Light Science Technologies CEO targets £1m healthcare revenue as defence opportunities grow

Light Science Technologies CEO targets £1m healthcare revenue as defence opportunities grow

Proactive

Tue, September 22, 2026 at 3:02 PM GMT+3

• LST.L 0.00%

Light Science Technologies Holdings PLC (AIM:LST, FRA:9FD) CEO Simon Deacon spoke with Proactive's Stephen Gunnion about the company's growing healthcare business, opportunities in defence, investment in production capabilities and its outlook for the rest of the year and into 2027.

Deacon discussed a repeat order from a healthcare devices customer that has taken the total contract value beyond £500,000, explaining that securing follow-on orders is central to the company's strategy as it builds relationships and expands into new markets. The progress has lifted revenue expectations: "Our expectations are more likely to be 1 million pounds worth of revenue within a 12 month cycle."

He also discussed opportunities in healthcare and defence, pointing to onshoring and UK investment in key infrastructure, with LSTH positioning itself to participate in defence investment.

Another focus has been diversifying the customer base. Deacon explained that one pest control client previously accounted for around 60% of annual revenue, a concentration expected to fall to around 25% as the division develops other clients and partnerships.

The interview also covered investment in automated optical inspection equipment with built-in AI, important as components shrink and the company expands further into healthcare, medical and defence, while also supporting efficiencies as larger contracts come through.

Across the wider group, Deacon highlighted 11 live passive fire protection installation projects, the recently completed Nottingham Trent University Smart Technology Center for agriculture, and another university project under way in Wales.

Looking ahead, Deacon said: "We will see growth for the year and build for 2027," adding that the company expects to finish the year strongly.

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00:00 Simon Deakin

And what we're seeing is that's already been achieved in a very short period of time of orders. And so our expectations are more likely to be a million pounds with the revenue within a 12-month cycle. So it's really pleasing to to keep growing in this sector and making sure that we provide the customer's needs.

00:28 Stephen

Hello, you're watching Proactive. I'm joined by Simon Deakon, the CEO of Light Science Technologies. Simon, good to speak with you.

00:36 Stephen

You've announced a repeat order from a healthcare devices customer taking the contract's total value beyond 500,000 pounds. How significant are follow on orders? Are you winning more business from existing or new clients?

00:52 Simon Deakin

Good morning, Stephen. Um it's it's really important to to have follow on orders. You know, we work hard with our our customer base and breaking into new markets like healthcare it is really important to us and is part of our strategy. So building up the confidence with the client. And we're really pleased to see the progression with this particular client because what's happened here is we were expecting our expectations um were for around half a million a year in revenue. And what we're seeing is that's already been achieved in a very short period of time of orders. And so our expectations are more likely to be a million pounds worth of revenue within a 12-month cycle. So it's really pleasing to to keep growing in this sector and making sure that we provide the customers' needs.

01:40 Stephen

Simon, what opportunities are you seeing in the defense and healthcare sectors?

01:48 Simon Deakin

Um we're seeing quite a lot of opportunity. Um onshoring is making a big difference for key infrastructure and assets um purchases here in the UK. and the defense side of of of things, you know, there's over, you know, around 300 billion going to be spent in the next four years. So it's really important to be part of that defense investment plan the government set up earlier on this year and we're really focusing and gearing for that.

02:16 Stephen

How diversified and de-risked is the CEM customer base now?

02:22 Simon Deakin

It's changed a lot Stephen. You know, we, you know, a few years ago we were heavily involved in one particular client in pest control, um which was taking up around 60% of our revenue um during a year. And and we'll see that reduced down to around 25% and it's been a real focus for the management within the division to bring that down and focus on other clients and partnerships moving forward. And they've really achieved that this this year. Um so I'm really pleased to see the progression of doing that. So the concentration level across the company is in really good shape.

02:57 Stephen

And Simon, can you give more detail on the automo automated optical inspection equipment? what's the rationale behind the investments and what benefit does it offer to production?

03:11 Simon Deakin

It's really important to have good solid test equipment. and as you can appreciate, we're moving more into healthcare, more into to medical and defense industries, and their expectations are are really high. Um so making sure we've got the quality of test equipment is important. And this particular piece of kit that we've ordered, um, you know, also has built-in AI. All the components now that we're acquiring are getting smaller and smaller to some points where you can't see them with the human eye, believe it or not in electronics. So it's really important to have the right equipment within the factory also to bring in efficiencies as we move forward and get larger contracts coming through.

04:06 Stephen

How scalable is the CEM model from this point? What would accelerate growth for the division?

04:12 Simon Deakin

Um what we're really focusing on is those new markets. Um we've got good capacity with the investment that we've made over the last few years in equipment and efficiencies. We've got capacity to take on larger contracts, um, um which gives our customers um really the breadth and depth when they come and visit us to to see that we've got that. So it's really important to show that having the right equipment, having the right facility and and building upon that. And and that's what we've been doing. So it's it's a really important part of our model moving into those new markets to continue the growth of the business. and I expect to see, you know, this to continue for years to come.

05:01 Stephen

The group's had quite a lot of activity in the past few months across all divisions. How's this looking for the rest of the year?

05:10 Simon Deakin

Um it's turning out well. You know, in the passive fire protection business with acquiring injector clad, we've got 11 installers out there with 11 live projects around the country. Um so they're really busy. So we're getting two channels of in passive fire from the material sales, but also our own installation program, um being an installer. So that's really working out well and progressing nicely. In Agtech, we've just completed and publicized the new Nottingham Trent University smart Technology Center for agriculture. and we're really pleased to launch that with them. and that's gone really well. and we've just started another project in Wales for another university. So really progressing well there. And obviously in the CEM, um you're seeing, you know, another gain in new markets and clients spending more money with us. So overall, our focus for the year is to close out strongly. We will see growth for the year and build for 2027. You know, it never stops. You're continuing running down that road, continuing growth, continue to focus on our client base and new markets and we expect to finish strong this year.

06:17 Stephen

Simon, I hope you'll continue to keep us updated with your progress. Thanks for your time today.

06:22 Simon Deakin

Thank you Stephen.

06:23 Stephen

Simon Deakon, the CEO of Light Science Technologies.