Tantalus Systems Holding Inc. (TGMPF)
Based in Burnaby, Canada, Tantalus Systems Holding Inc. is a technology company specializing in smart grid solutions for clients throughout Canada and the United States. Its operations are structured into two key segments. The Connected Devices and Infrastructure division supplies essential hardware components. This includes advanced computing modules for integration into diverse devices like meters, sensors, and streetlights, along with automation equipment. It also provides multi-relay load control switches and a suite of communication infrastructure tools, such as base stations and repeaters, which together establish an industrial Internet-of-Things (IoT) smart grid. The Utility Software Applications and Services segment delivers a broad spectrum of software and support. Offerings range from software licenses, hosting, and software-as-a-service (SaaS) subscriptions, to comprehensive professional services covering project management, deployment, installation, and engineering support. This segment additionally provides ongoing post-contract technical assistance and annual software maintenance. Tantalus further enhances utility operations with AI-enabled data analytics applications and specialized professional services. Its product portfolio features TRUConnect AMI, an industrial IoT network providing asset visibility, command, and control; TRUFlex Load+DER Management system for regulating residential and commercial loads; TRUGrid Automation, an analytics suite designed to detect data anomalies; TRUSync Grid Data Management for streamlining utility data automation; and TRUSense Gateway solutions.
Industry: Electrical Equipment & Parts
Tantalus Systems Holding Inc.
OTC:TGMPFIndustrials · Electrical Equipment & Parts
+2.35%$3.05
Mkt Cap$176.44M
Float45.59M
O/S57.85M
Inst Own-
SI0.6%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$55.06M
Net Income-$1.01M
Total Assets$43.11M
Free Cash Flow$4.03M
Debt & Equity
Debt 53%
Equity 47%
Total Debt$8.47M
Total Equity$7.49M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in TGMPF's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$43.11M
Liabilities$35.62M
Accounts Receivable$9.85M
Accounts Payable$11.61M
Inventory$7.94M
PP&E (Net)$2.62M
Goodwill$3.44M
Intangible Assets$4.67M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Revenue | $55.06M | $44.31M | $42.15M | $39.6M | $32.17M | $34.8M | $41.59M | $40.41M | $32.33M |
| YoY Growth | 24.3% | 5.1% | 6.4% | 23.1% | -7.5% | -16.3% | 2.9% | 25.0% | - |
| Cost of Revenue | $26.65M | $20.29M | $20.29M | $20.71M | $17.82M | $19.62M | $23.2M | $22.49M | $16.63M |
| Gross Profit | $28.41M | $24.02M | $21.86M | $18.9M | $14.35M | $15.17M | $18.38M | $17.92M | $15.7M |
| Gross Margin | 51.6% | 54.2% | 51.9% | 47.7% | 44.6% | 43.6% | 44.2% | 44.3% | 48.6% |
| Research and Development | $7M | $7M | $7.91M | $7.27M | $5.38M | $4.15M | $5.95M | $6.29M | $4.85M |
| Selling, General, and Administrative | $20.54M | $16.53M | $14.4M | $15.12M | $13.62M | $10.16M | $11.36M | $11.9M | $10.13M |
| Other | $360K | $1.75M | $1.83M | $2.2M | $1.59M | $1.78M | $916K | $443K | $17.51M |
| Total Operating Expenses | $27.9M | $25.28M | $24.15M | $24.59M | $20.59M | $16.08M | $18.23M | $18.64M | $32.5M |
| Operating Income (EBIT) | $511K | -$1.26M | -$2.29M | -$5.69M | -$6.24M | -$911K | $552K | -$641K | $368K |
| Operating Margin | 0.9% | -2.8% | -5.4% | -14.4% | -19.4% | -2.6% | 1.3% | -1.6% | 1.1% |
| Interest Expense | $1.19M | $1.59M | $0 | $0 | $0 | $746K | $0 | $0 | $0 |
| Interest Income | $97K | $0 | $1.36M | $946K | $530K | $0 | $6K | $0 | $661K |
| Other Income (Expense) | -$1.41M | -$1.35M | $612K | -$387K | -$737K | $2.48M | -$1.15M | -$829K | -$17.82M |
| Income Before Tax (EBT) | -$895K | -$2.62M | -$1.67M | -$6.08M | -$6.98M | $1.57M | -$596K | -$1.47M | -$17.46M |
| Income Tax Expense | $114K | $12K | $11K | -$882K | $41K | $8K | $0 | $0 | $0 |
| Net Income | -$1.01M | -$2.63M | -$1.69M | -$5.2M | -$7.02M | $1.56M | -$79K | -$80K | -$17.46M |
| Net Income Margin | -1.8% | -5.9% | -4.0% | -13.1% | -21.8% | 4.5% | -0.2% | -0.2% | -54.0% |
| Supplementary Data | |||||||||
| EPS | -0.02 | -0.05 | -0.04 | -0.12 | -0.17 | 0.74 | -0.52 | -0.53 | -1.10 |
| Diluted EPS | -0.02 | -0.05 | -0.04 | -0.12 | -0.17 | 0.04 | -0.52 | -0.53 | -1.10 |
| Weighted Average OS | 51.20M | 50.85M | 44.60M | 44.50M | 40.31M | 2.12M | 152,439 | 152,439 | 15.84M |
| EBITDA | $2.21M | $723K | $1.59M | -$3.23M | -$4.9M | $4.12M | $773K | $683K | $1.41M |
| EBITDA Margin | 4.0% | 1.6% | 3.8% | -8.2% | -15.2% | 11.8% | 1.9% | 1.7% | 4.3% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and Cash Equivalents | $12.6M | $13.22M | $5.15M | $5.85M | $14.2M | $4.65M | $398K | $465K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $12.6M | $13.22M | $5.15M | $5.85M | $14.2M | $4.65M | $398K | $465K |
| Accounts Receivable | $9.85M | $10.01M | $7.87M | $9.04M | $5.4M | $10.1M | $6K | $4K |
| Inventory | $7.94M | $4.83M | $6.63M | $5.69M | $5.69M | $4.59M | $5.04M | $5.47M |
| Other Current Assets | $2M | $1.83M | $2.14M | $673K | $1.14M | $1.38M | $1.52M | $13K |
| Total Current Assets | $32.39M | $29.89M | $21.8M | $22.79M | $26.43M | $20.72M | $404K | $482K |
| Long-Term Assets | ||||||||
| Property, Plant & Equipment Net | $2.62M | $2.77M | $3.34M | $4.14M | $4.44M | $2.43M | $2.63M | $2.65M |
| Goodwill | $3.44M | $3.45M | $3.45M | $3.45M | $0 | $0 | $0 | $0 |
| Intangible Assets | $4.67M | $5.44M | $6.21M | $6.98M | $160K | $375K | $759K | $1.15M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Assets | $10.72M | $11.66M | $13M | $14.57M | $4.6M | $2.81M | $3.39M | $3.8M |
| Other Assets | $0 | $0 | $0 | $0 | $160K | $0 | -$3.39M | -$3.8M |
| Total Assets | $43.11M | $41.55M | $34.8M | $37.36M | $31.03M | $23.53M | $404K | $482K |
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $11.61M | $7.99M | $7.8M | $8.5M | $5.37M | $7.13M | $0 | $0 |
| Short-Term Debt | $1.6M | $5.21M | $8.5M | $9.2M | $8.1M | $8.08M | $8.2M | $8.04M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $8.21M | $6.05M | $4.18M | $4.62M | $3.15M | $0 | -$14.16M | -$15.51M |
| Other Current Liabilities | $378K | -$1K | $2.98M | $4.18M | $1.68M | $10.05M | $5.98M | $7.51M |
| Total Current Liabilities | $28.95M | $27.74M | $27.27M | $29.5M | $20.95M | $25.26M | $24K | $47K |
| Long-Term Liabilities | ||||||||
| Long-Term Debt | $5.16M | $5.37M | $2.87M | $1.16M | $3.28M | $582K | $902K | $1.37M |
| Long-Term Unearned Revenue | $0 | $103K | $0 | $504K | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $537K | $0 | $217K | $0 | $0 | -$582K | $0 | $0 |
| Total Long-Term Liabilities | $6.67M | $6.87M | $5.21M | $4.28M | $3.28M | $582K | $902K | $1.37M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | -$902K | -$1.37M |
| Total Liabilities | $35.62M | $34.61M | $32.48M | $33.78M | $24.24M | $25.84M | $24K | $47K |
| Stockholders' Equity | ||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $95.43M | $94.58M | $88.14M | $88.14M | $86.93M | $71.48M | $535K | $508K |
| Retained Earnings | -$132.57M | -$131.82M | -$129.2M | -$127.51M | -$122.31M | -$115.29M | -$163K | -$80K |
| Comprehensive Income & Other | $44.63M | $44.18M | $43.37M | $42.95M | $42.17M | $41.51M | $8K | $8K |
| Other Stockholders' Equity | $44.63M | $44.18M | $43.37M | $42.95M | $42.17M | $41.51M | $8K | $8K |
| Total Equity | $7.49M | $6.94M | $2.32M | $3.58M | $6.79M | -$2.31M | $380K | $435K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $43.11M | $41.55M | $34.8M | $37.36M | $31.03M | $23.53M | $404K | $482K |
| Supplementary Data | ||||||||
| Total Debt | $8.47M | $12.82M | $14.37M | $13.84M | $12.11M | $9.39M | $9.1M | $9.41M |
| Net Debt | -$4.13M | -$399K | $9.21M | $7.99M | -$2.1M | $4.74M | $8.7M | $8.95M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Operating Activities | |||||||||
| Net Income | -$992K | -$2.63M | -$1.69M | -$5.2M | -$7.02M | $1.56M | -$79K | -$80K | -$17.46M |
| Depreciation & Amortization | $1.7M | $1.75M | $1.83M | $1.9M | $1.55M | $1.81M | $851K | $764K | $1.04M |
| Deferred Income Tax | $0 | $0 | $0 | -$1.12M | -$402K | -$5.64M | -$1.72M | $0 | $0 |
| Stock-Based Compensation | $1.19M | $596K | $423K | $773K | $462K | $303K | $458K | $924K | $45K |
| Changes in Working Capital: | |||||||||
| Accounts Receivable | $143K | -$2.14M | $1.2M | -$3.03M | $3.55M | -$4.08M | -$1K | $472K | -$430K |
| Inventory | -$3.18M | $1.8M | -$961K | $4K | -$1.1M | $447K | $437K | -$2.26M | -$328K |
| Accounts Payable | $2.87M | $1.81M | $1.26M | $1.44M | -$3.39M | $0 | -$437K | $0 | $0 |
| Other Working Capital | $2.45M | $3.31M | -$695K | $1.13M | $698K | -$812K | -$5K | -$356K | -$86K |
| Total Working Capital Change | $2.3M | $2.97M | $804K | -$462K | -$235K | -$4.44M | -$6K | -$2.14M | -$843K |
| Other Non-Cash Items | $607K | -$55K | -$2.22M | $708K | $1.63M | $7.32M | $3.7M | $2.36M | $16.68M |
| Net Cash from Operating | $4.8M | $2.64M | -$840K | -$3.4M | -$4.01M | $911K | $3.2M | $1.82M | -$536K |
| Investing Activities | |||||||||
| Capital Expenditures | -$766K | -$409K | -$269K | -$177K | -$530K | -$899K | -$832K | -$372K | -$111K |
| Acquisitions | $0 | $0 | $0 | -$5.69M | $342K | $0 | $0 | $0 | $169K |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $45K | -$263K | -$190K | -$180K |
| Net Cash from Investing | -$766K | -$409K | -$269K | -$5.86M | -$188K | -$854K | -$1.09M | -$563K | -$122K |
| Financing Activities | |||||||||
| Debt Repaid | $4.93M | -$3.34M | -$2.67M | -$1.73M | $586K | - | - | - | - |
| Common Stock Issuance | $369K | $7.3M | $0 | $14K | $16.28M | $0 | $0 | $522K | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$582 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$702K | $42K | -$631K | -$659K | -$1.95M | -$658K | -$449K | -$560K | -$394K |
| Net Cash from Financing | -$4.65M | $5.86M | $404K | $1.07M | $13.75M | -$774K | -$449K | -$560K | -$394K |
| Forex Effect | $4K | -$20K | $8K | -$166K | $10K | -$3K | $70K | -$111K | $16K |
| Net Change in Cash | -$616K | $8.07M | -$697K | -$8.35M | $9.56M | -$720K | $1.73M | $588K | -$1.04M |
| Supplementary Data | |||||||||
| Operating Cash Flow | $4.8M | $2.64M | -$840K | -$3.4M | -$4.01M | $1.45M | $3.2M | $1.82M | -$536K |
| Capital Expenditure | -$766K | -$409K | -$269K | -$177K | -$530K | -$899K | -$832K | -$372K | -$111K |
| Free Cash Flow | $4.03M | $2.23M | -$1.11M | -$3.58M | -$4.54M | $547K | -$917K | -$429K | -$647K |
| Cash at Beginning | $13.21M | $5.15M | $5.85M | $14.2M | $4.65M | $5.37M | $3.64M | $3.05M | $4.09M |
| Cash at End | $12.6M | $13.22M | $5.15M | $5.85M | $14.2M | $4.65M | $5.37M | $3.64M | $3.05M |