Windar Photonics – interims, how strong a base now “to restructure and grow the business”?

A results announcement on the last day before the deadline would see the shares suspended tends to mean the results aren’t good, though at Windar Photonics (WPHO) such a timeline is actually an improvement from ‘2025 results not announced until August 2026 and at an attempted ‘no one watching o’clock’!’. What though of its latest results, with the shares currently responding more than 3% lower towards 4.5p?

Windar Photonics – 2025 results not announced until August 2026 and at an attempted ‘no one watching o’clock’!

Results for the 2025 calendar year announced on 26th August 2026… and at an attempted ‘no one watching o’clock’ 4:55pm. Now why don’t I think these are going to be good!

Windar Photonics (#WPHO) – “pleased to announce” just £0.245m ‘retail offer’ of £5.12m fundraise was “significantly over-subscribed”!

Windar Photonics – “pleased to announce” retail offer. Er, really?!…

Windar Photonics (WPHO) has announced an “up to” £0.2 million “retail offer” as it “values its retail shareholder base”. However, it follows an after-hours yesterday “placing and direct subscription have conditionally raised gross proceeds of approximately £4.055 million”. So at least not much dilution from a last-quoted 26.5p share price then?

Windar Photonics (#WPHO) – “up to £200,000” ‘retail offer’ at just 5p per share with warrants

Windar Photonics – after “Potential Accounting Irregularities and Suspension”, could it get still worse?…

Last week a “Potential Accounting Irregularities and Suspension” announcement from Windar Photonics (WPHO) stated that “the revenue currently being questioned totalled €1.2m in FY 2024 and €1.6m in FY 2025” and there’s now a “Trading Update” including CEO Andreas Berg Nielson stating “whilst recognising the current challenges facing Windar, in my opinion these are outweighed by the significant commercial opportunities available to the company. Based on customer feedback, I have every confidence in Windar’s technology offering and its ability to provide tangible value for our customers. Moreover, the team and I are committed to commercialising these opportunities”. So better news then?

BREAKING: Windar Photonics – “Potential Accounting Irregularities and Suspension”… and nearly all the money’s gone!…

Most recently on Windar Photonics (WPHO), I concluded ‘I question how “strong” really the balance sheet is now. That was with “full year results will be announced in May 2026”. With it now 3rd June but we still awaiting those results, at this juncture and still a near £27 million market capitalisation, natch still avoid/sell’. Hopefully that and my prior warnings were heeded as it’s at 10:30am today “Potential Accounting Irregularities and Suspension”!

Windar Photonics – new CEO and share options, so at a decent premium to the current share price?…

Describing itself as a “technology group that has developed a LiDAR-assisted monitoring and optimisation solution across multiple wind turbine platforms”, Windar Photonics (WPHO) has announced a new CEO has commenced and “has been granted options over 2,554,191 ordinary shares”. What about this, with the shares currently at 27.25p compared to above 60p as recently as November?

Windar Photonics – emphasising “backed by a strong balance sheet”, why a new “share subscription facility” then?

‘LiDAR wind sensor and software’ company Windar Photonics (WPHO) has issued a trading update emphasising it “has had its strongest ever first quarter in terms of new test order activity… expects to deliver revenue of at least €7.8m in FY 2026, representing growth of at least 22% over the prior year, with adjusted EBITDA of at least €0.5m… a strong balance sheet with net cash of €4.4m as at 31 December 2025”. What about a currently up to 31p share price in response?

Windar Photonics (#WPHO) – argues positive trading momentum, agreement for an “up to £20 million… share subscription facility”

Windar Photonics – after argued “during 2025 Windar made significant progress”, now CEO to “step down… with immediate effect”?!

Wind turbine platforms monitoring and optimisation technology company Windar Photonics (WPHO) has issued a “Directorate change”-titled announcement including that “Non-Executive Chairman, David Lis, has been appointed Interim Executive Chairman and will lead the search to find a new Chief Executive Officer. On a permanent basis, Søren Belmar, Chief Financial Officer, will expand his role to also now become Chief Operating Officer” and “as previously announced, during 2025 Windar made significant progress… accordingly, the board believes there will be no change to the trading position of the business, and remains confident in the company’s strong growth prospects going into 2026”. So what about a currently down to 45p share price?

Windar Photonics (#WPHO) – “Jørgen Korsgaard Jensen will step down from the board and his role as Chief Executive Officer with immediate effect”

Windar Photonics – I having previously questioned its “On Track to Deliver for FY25”, what of now a “Trading Statement”?…

Most recently on wind turbines monitoring and optimisation technology company Windar Photonics (WPHO), in September with the shares up to 63p I wrote ‘interims emphasising “On Track to Deliver for FY25”, but is it really?’, concluding still a risk versus reward avoid/sell. The shares most recently closed at 43.5p and what about now a “Trading Statement”?

Windar Photonics (#WPHO) – emphasises trading improvement but “short of our expectations due to a delay in finalising an order in China with a significant gross value”

Windar Photonics – interims emphasising “On Track to Deliver for FY25”, but is it really?…

Wind turbines sensors and related software company Windar Photonics (WPHO) has announced its results for the first half of the 2025 calendar year headlined “Demand Broadening and On Track to Deliver for FY25” and what of the shares currently slightly up in response at 63p?

Windar Photonics – how “well placed to deliver a significant increase in revenues” and what about the bottom-line?…

Wind turbines monitoring and optimisation technology company Windar Photonics (WPHO) has issued an “AGM Statement” including that it, “supported by a solid forward orderbook and a growing pipeline of opportunities… is well placed to deliver a significant increase in revenues during 2025 compared to 2024”. However, with revenues being vanity, what about the bottom-line financials from the valuation at a current 57p share price?

Windar Photonics (#WPHO) – order book and opportunities pipeline mean “well placed to deliver a significant increase in revenues during 2025 compared to 2024”

Windar Photonics – results emphasise “expected step change in revenue growth”… but it’s already not to be as significant a change as expected!

‘Light Detection and Ranging (LiDAR) optimisation systems for use on electricity generating wind turbines’ company Windar Photonics (WPHO) states that it “is pleased to announce the issue and posting of its results for the 12 months ended 31 December 2024”. However, how ‘pleasing’ really is the announcement, as results only just being announced before the shares suspension deadline don’t tend to be ‘pleasing’ for shareholders?

Windar Photonics – “Update on Expectations”, why was this never likely to be good news?…

Windar Photonics (WPHO) has issued an “Update on Expectations”-titled announcement and why did I immediately think it isn’t going to be good news?

Windar Photonics (#WPHO) – product delivery “did not meet the requirements under IAS to be recognised within 2024” trading warning