Shares of Leeds-based transport technology provider Tracsis plc rose as much as 11% on Wednesday after it published a trading update for the six months ended January 31, 2026, and revealed a North American contract win.

Tracsis said trading was in line with market expectations for the full-year.

“H1 FY26 revenue expected to be c.£39m (H1 FY25: £36.3m) and adjusted EBITDA expected to be c.£5.0m (H1 FY25: £3.8m),” said Tracsis.

The group said it has signed a new multi-year contract with a “shortline freight railroad in North America to deploy its Train Dispatch software product.”

Tracsis said: “Building on the previously announced first implementation of the product with a US commuter rail operator, this contract provides further validation of the competitiveness of our Train Dispatch offering in North America.

“Implementation work is underway and will contribute project revenue that underpins the Board’s expectations for FY26. Full deployment is expected during FY27, after which the Group will receive recurring support and maintenance licence revenue.”

Tracsis CEO David Frost said: “The Group delivered a first half performance in line with our expectations, showing a significant improvement over H1 FY25. I am pleased with how we are delivering on commitments while making progress in executing our strategy to deliver scalable, long-term growth.

“The new contract win in North America is an important strategic milestone. Tracsis’ Train Dispatch product has been operating successfully since its first deployment in September 2024 and this win, with a different type of operator, provides further validation of the product and addressable demand in the North American market.

“International diversification is a core component of our growth strategy and we continue to progress a Train Dispatch pipeline in North America, where there is demand for new technology providers although procurement processes can be protracted.

“Tracsis remains well placed to benefit from long-term structural trends in our end markets. The Railways Bill introduced in November 2025 reinforces the UK government’s strategic plans for UK Rail and provides further confidence that our portfolio aligns with the future of the sector.

“Supported by a robust balance sheet and healthy cash generation, we remain focused on executing our growth transformation strategy, prioritising growth in higher-margin software licence and transactional revenues. As part of this, we continue to review the alignment of our portfolio and explore targeted acquisition opportunities that further strengthen our strategic position.”