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17 September 2025
Nexteq plc
("Nexteq" or the "Group")
First Mass Production Purchase Order for Brazil
Significant milestone achieved in major new growth opportunity
Nexteq plc (AIM: NXQ), a leading technology solutions provider to customers in multiple markets, is delighted to announce that its Quixant brand, which serves the land-based gaming market, has secured its entrance into the Brazil market, with the first mass production purchase order from a Brazilian state video lottery operator.
This follows the Group's launch of a specifically engineered solution developed in anticipation of this new and rapidly emerging market opportunity, utilising the Group's market leading computer engineering capabilities.
The Brazilian gaming market, of which the state lottery forms a sub-set, represents a strategically significant opportunity for the Group, and this landmark purchase order is the first step in developing a series of opportunities through its innovative and market specific product range.
This first purchase order will supply into one of several states in Brazil that have now authorised state lottery operations, with Nexteq well positioned to capitalise on further early-stage growth opportunities in the Brazil state lottery through its strategic partnership in market, enabling bonded warehouse logistics, tax-efficient importation, and in-region customer support.
This mass production purchase order is expected to deliver revenues in FY26 based on current component lead times, providing increased confidence in FY26 expectations and delivery of the Group's three-year plan.
Duncan Faithfull, Chief Executive Officer of Nexteq Plc, commented:
"Securing our first mass production order in Brazil represents a significant milestone for Nexteq and our Quixant brand. Brazil is one of the most exciting growth markets in the global gaming industry, and this order demonstrates the strength of our technology, our market readiness, and our ability to support customers' specific needs as regulation evolves. We see this as the first of many opportunities in the region, and it underlines efforts made over several years of preparation.
The Board believes that this development represents a significant moment for Nexteq, positioning the Group to benefit from the long-term expansion of Brazil's gaming sector."
| Nexteq plc Carol Thompson, Non-Executive Chair Duncan Faithfull, Chief Executive Officer Matt Staight, Chief Financial Officer |
Tel: +44 (0)20 3597 6800 |
| Nominated Adviser and Broker: Cavendish Capital Markets Ltd Matt Goode / Teddy Whiley (Corporate Finance) Tim Redfern / Harriet Ward (Corporate Broking)
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Tel: +44 (0)20 7220 0500 |
| Financial PR: Alma Strategic Communications Hilary Buchanan / Emma Thompson |
Tel: +44 (0)20 3405 0205 |
About Nexteq
Nexteq (AIM: NXQ) is a strategic technology solutions provider to customers in selected industrial markets. Its innovative technology enables the manufacturers of global electronic equipment to outsource the design, development and supply of non-core aspects of their product offering. By outsourcing elements of their technology stack to Nexteq, customers can focus their product development effort on the most critical drivers of their business' success.
Our solutions are delivered through a global sales team and leverage the Group's electronic hardware, software, display and mechanical engineering expertise. Our Taiwan operation is at the heart of Asian supply networks and facilitates cost effective manufacturing and strategic supply chain management.
The Group operates in six countries and services over 500 customers across 47 countries.
Nexteq operates two distinct brands: Quixant, a specialised computer platforms provider, and Densitron, leaders in human machine interface technology, each with dedicated sales, account management and product innovation teams. Founded in 2005, and later floating on the London Stock Exchange's AIM stock market as Quixant plc, the Group rebranded to Nexteq in 2023.
Further information on Nexteq and its brands can be found at www.nexteqplc.com.
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