Calnex Solutions plc, a provider of test and measurement solutions for the telecommunications and cloud computing markets, has announced its unaudited results for the six months ended 30 September 2023. The company reported a decline in revenue of 38% to £7.8 million compared to the same period last year. The performance was impacted by the wider economic environment and the deferral of investment in the telecommunications market. Despite the decline in revenue, Calnex maintained a gross margin of 74% and implemented cost controls while continuing key product development and customer engagement. The company reported an underlying EBITDA loss of £0.4 million and a loss before tax of £0.6 million. The closing cash position was £13.5 million, enabling the company to exploit growth opportunities across key sectors. Calnex expects to close the year in line with current market expectations and is confident in a return to growth in the 12 months to March 2025 through the development of new products and expansion into growing sectors. The company's CEO, Tommy Cook, stated that while the results for the first half are disappointing, Calnex is well positioned to weather the current conditions and return to growth in the future.