POS

Plexus Holdings PLC

Energy First-pass screen £5.96m

220/1000 Overall fit

AI beneficiary 35% 10

Operating leverage 25% 35

Valuation 25% 25

Downside protection 15% 20

First-pass take

Pure O&G wellhead equipment with zero AI exposure; loss-making (£3.3m FY25) with material going-concern uncertainty; 92% customer concentration and geopolitical exposure (North Sea) create acute downside risks.

Flags

no-ai-exposureloss-makinggoing-concerncustomer-concentrationcyclicalmicro-capgeopolitical-risk