Compounding Quietly: thinkRF Builds Depth, Discipline, and Global Reach in H1 2026

thinkRF — All-in-one spectrum intelligence and network analytics • thinkRF.com

A First Half Defined by Quality of Execution

After a breakout 2025 defined by velocity, H1 2026 was defined by depth: deeper customer relationships, deeper platform capabilities, and a more durable business model. thinkRF strengthened its financial foundation, renewed and expanded national-scale deployments, advanced its most senior international engagements to date, and pushed SXM decisively into the era of AI-driven spectrum intelligence.

Underlying all of it is a larger transformation that thinkRF is leading. For decades, the industry has practiced spectrum monitoring: periodic, manual, and reactive. thinkRF is establishing a fundamentally different discipline, spectrum intelligence: continuous, autonomous, AI-driven understanding of the RF environment at national scale. H1 2026 is when that shift moved from vision to demonstrated, in-the-field reality.

“The spectrum intelligence market doesn’t reward speed alone. It rewards trust, staying power, and the ability to operate at national scale year after year. H1 proved that the era of passive spectrum monitoring is giving way to true spectrum intelligence.” Tarek Helaly, CEO

Financial Strength and Revenue Quality

thinkRF’s platform-led, recurring-revenue model continued to deliver:

• Revenue growth YoY, with EBITDA ahead of plan: growth delivered profitably, reflecting disciplined cost management and a deliberate emphasis on revenue quality over volume
• Strengthening cash position, increasing strategic flexibility and independence
• 72% recurring revenue, with long-term deployments, renewals, and subscriptions now the dominant revenue engine
• 78.5% gross margins, underscoring the scalability of the SXM platform

This is the profile of a business built to compound: capital-efficient, predictable, and funding its own expansion

Commercial Execution: Renewals, Expansions, and New Frontiers

H1 proved that customers who deploy SXM stay, expand, and deepen.

• National-scale renewal with Canada’s federal regulator. Innovation, Science and Economic Development Canada (ISED) renewed its nationwide SXM deployment, extending a multi-year relationship and reaffirming SXM’s role as trusted infrastructure for a leading national regulator; renewals of this kind are the strongest validation a platform company can earn.
• Land and expand in action. An existing government customer advanced into a second phase of deployment, while new trial engagements began with organizations evaluating spectrum intelligence capabilities for defence applications.
• New use cases entering the field. A new deployment commenced using SXMGO for drive-test-based cellular coverage validation, opening an additional commercial lane in mobile survey applications.
• Gulf market entry accelerates. H1 saw thinkRF’s most intensive and senior-level engagement to date across the Gulf, one of the world’s most sophisticated spectrum management markets: in-person executive engagements with national regulators across the GCC, with structured evaluations, pilot frameworks, and delivered proposals now in motion.

Sovereign Capability: Defence and National Security

thinkRF broadened its positioning within Canada’s defence and national security ecosystem, advancing engagements with federal defence, security, and innovation stakeholders and beginning active trials in defence applications. SXM is emerging as a sovereign Canadian capability for electromagnetic situational awareness at a time when spectrum dominance is increasingly a matter of national resilience.

AI at the Core: From Spectrum Monitoring to Spectrum Intelligence

The first half delivered the clearest demonstration yet of SXM’s defining thesis: the RF environment has become too complex for human-speed analysis, and the future belongs to platforms that can see, understand, and act autonomously.

SXM’s multi-layer AI/ML analytics framework moved to the center of the platform’s differentiation:

• Blind signal detection and classification, identifying and characterizing emitters without prior knowledge of the environment
• Multi-sensor data fusion across distributed nodes, building a coherent, wide-area picture of the RF landscape
• Automated operational intelligence, converting raw spectrum data into actionable insight without manual intervention

This framework is no longer a roadmap. In a single national deployment, SXM’s intelligence engine processed over 1.6 million signal records, autonomously identifying and characterizing thousands of emitters and surfacing actionable threats with high attribution accuracy. This is machine-scale spectrum intelligence, operating in the field today.

Market Recognition and Visibility

thinkRF’s profile continued to rise:

• Strong engagement at Mobile World Congress in Barcelona and the European Spectrum Management Conference in Brussels as Networking Partner, hosting live technology demonstrations for regulators, policymakers, and operators
• Named a finalist for the Network Data & Intelligence Innovation Award at FutureNet World in London, recognition of thinkRF’s leadership in AI-driven network intelligence
• Featured thought leadership on spectrum intelligence as an emerging category, reinforcing thinkRF’s role in defining the market it leads
• Invited panelist at innovation and defence forums, including the 6G Global Summit and the Canadian Telecom Summit, strengthening ties with defence primes and government stakeholders

Looking Ahead

thinkRF enters H2 2026 with a pipeline that is larger and more strategic, with multiple national-scale opportunities advancing across the Middle East, Europe, the Caribbean, and North America.

The story of 2025 was momentum. The story of 2026 is durability: building the financial discipline, sovereign credibility, and AI-driven platform depth that turn a fast-growing company into a lasting one, and establishing spectrum intelligence as the standard the industry will be measured against. £

ABOUT thinkRF

thinkRF is redefining how the world understands and manages wireless spectrum. Its Spectrum eXperience Management (SXM) platform delivers continuous, real-time spectrum intelligence, providing unprecedented visibility into today’s increasingly complex wireless environments. Trusted by regulators, telecom operators, and security organizations worldwide. For more information, visit thinkrf.com