Singapore, July 07, 2026 (GLOBE NEWSWIRE) -- iOThree Limited ("iO3" or the "Company") (Nasdaq: IOTR), a pioneering provider of digital solutions for the maritime industry, today issued the following letter from the Company's chairman and chief executive officer to its shareholders.

Dear Fellow Shareholders,

I am pleased to report our results for FY2026, underscoring the progress we have made and the strengthening foundations of our business.  We delivered topline growth of 40.0% and gross profit growth of 68.4%, outcomes that speak to the resilience of our business model, the trust our customers place in us, and the dedication of our people across the organisation.

Total revenue for the year ended March 31, 2026 (“FY2026”) stood at US$14.7 million, compared to US$10.5 million in FY2025. The growth in revenue was mainly driven by our Edge computing infrastructure and other Digital segment, while revenue generated from our satellite connectivity solution segment remained steady compared to last financial year. Gross profit grew from US$1.9 million to US$3.2 million on the back of revenue increase and better gross profit margins. Overall gross profit margin improved from 17.8% to 21.4%, on the back of better economy of scale as we expanded our business in digitalization and other solutions.

However, as a result of higher general and administrative expenses attributable to higher staff headcount for business expansion, listing and compliance related expenses, we recorded a net loss of US$1.2 million in this financial year. Excluding one-off listing expenses, our net loss would be lower at US$0.6 million.

Our edge compute services and SaaS services segment remain our most significant revenue contributor. Vessel operators are increasingly choosing to run computing power directly on board rather than through the cloud, a shift driven by growing concerns around data security and ownership. This change in mindset is fundamentally reshaping how the industry adopts maritime technology, and it plays directly to our strengths. We recognised this shift early and moved deliberately in this space. Today, that conviction has translated into a meaningful head start over our peers.

Despite absorbing one-off costs associated with our public listing, the Group delivered an improved operating margin. This was achieved through greater operational scale, higher productivity across our teams and continued cost discipline. These results give us genuine confidence that the business is on solid footing and well-positioned for what lies ahead.

A Favourable Industry Backdrop

The broader industry environment remains supportive. Demand for digital solutions across the marine sector continues to grow — driven in part by regulatory requirements, but more broadly by a growing industry-wide recognition that technology can meaningfully improve vessel safety, crew welfare, environmental responsibility, and operational efficiency. The ongoing decline in satellite communication costs added further momentum, lowering barriers to digital adoption across fleets of all sizes.

We continue to see healthy demand across Asia, with Singapore and Taiwan being particularly active markets for us. We expect this momentum to continue into FY2027, underpinned by favourable industry developments and rising digital adoption.

In Singapore specifically, the upcoming Maritime Master Plan, targeted for formalisation by 2027, sets out a clear national agenda to strengthen the country's standing as a global maritime hub, with a focused emphasis on innovation, artificial intelligence and workforce development. This is an encouraging backdrop for us, signalling both growing vessel traffic and increasing appetite for the digital services we provide.

Building The Products Our Customers Need

On the product front, progress is well underway across several areas. Our AI-powered analytics platform, focused on multi-fuel optimisation and carbon reporting, continues to develop and reflects our commitment to practical, outcomes-driven innovation for the maritime sector. We also expect to launch our shipboard digital bulletin board service in the third quarter of 2026. These investments in product development are central to how we differentiate ourselves from competition in our space.

We are also stepping up our marketing and customer acquisition efforts to capitalise on rising demand for maritime technologies across Asia. Through active participation in events such as Asia Pacific Maritime 2026, we connect directly with shipowners, ship managers and other industry players in the region and develop meaningful strategic partnerships for both business development and product innovation. Our collaboration with deep-tech company Seadronix, combining real-time visual recognition, risk detection, and intelligent decision support, has already opened up a range of new opportunities this year, and we expect that pipeline to continue growing.

Geographic expansion remains a deliberate part of our growth strategy. Our move into Japan is gathering pace, with hiring and groundwork already underway. We expect our Japan office to be operational by early Q4 2026. This is a milestone that will bring us closer to customers in one of the world's most significant maritime markets.

Managing Challenges

We remain mindful of the headwinds ahead. While geopolitical uncertainty continues to pose risks, the Group has not experienced any direct impact to date. We are monitoring developments closely and remain ready to respond with agility and discipline, managing risks prudently while acting proactively on opportunities that may emerge from a changing environment.

Talent acquisition also remains a priority. In a niche and growing market with a limited talent pool, we are working hard to attract and retain the right people. Alongside direct recruitment, we are exploring targeted outsourcing where it makes operational sense.

The current global memory shortage is also affecting our supplies on access to Servers. This supply is affecting our deliveries to our clients and has resulted in softer performance in Q2. Our teams are working hard to look for alternatives and are positive we would find a solution soon to mitigate the supply crunch.

Appreciation and Looking Ahead

Finally, I want to express my sincere gratitude to all of you, our shareholders and our Board, for the trust you place in iO3. To our customers, thank you for your continued partnership. And to our employees, your commitment and expertise are the foundation of everything we have achieved so far.

Eng Chye Koh
Chief Executive Officer and Chairman
iOThree Limited

ABOUT iO3

iO3 is a leading provider of Maritime Digital technologies, offering a comprehensive range of solutions and services to optimize vessel operations, enhance safety, and strengthen cyber resilience. Committed to driving digital innovation in the maritime industry, iO3 empowers shipowners to adapt to evolving market demands and leverage advanced technologies to protect their vessels, operations, and crew in an increasingly connected world. For further information, visit www.io3.sg and https://www.linkedin.com/company/io3-pte-ltd .

Forward-Looking Statements

Certain statements in this release constitute forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements, expressed or implied, in this release are based only on information currently available to the Company and speak only as of the date on which they are made. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions in this release. Except as otherwise required by applicable law, the Company disclaims any duty to publicly update any forward-looking statement to reflect events or circumstances after the date of this release. These statements are subject to uncertainties and risks, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”). Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov .

For further information, please contact:
iOThree Limited

Investor Relations: [email protected]