After a quiet start to October, newsflow has picked up across several of our AIM holdings. The tone of this fortnight’s updates has been about execution and stability, with companies completing acquisitions, reaffirming forecasts, and strengthening their balance sheets. It’s a reminder that consistent delivery and financial discipline remain the hallmarks of quality on AIM.

CML Microsystems tidies up its balance sheet

CML Microsystems (CML) has drawn a line under its 2023 acquisition of MwT by settling the final US$2m deferred consideration in shares. The company issued 559,134 new shares, worth around £1.46m, to non-executive director Nathan Zommer, simplifying its capital structure and removing a lingering liability. It is a small but positive move that brings clarity and tidiness to the books.

With the earn-out now settled, CML can channel more energy into product development and client expansion. The move won’t transform near-term earnings, but it does improve transparency and reinforces confidence in management’s measured execution style.

HSS Hire resumes trading after clearing the decks

HSS Hire (HSS) is finally back on the market. After a short suspension tied to delayed annual accounts, the FCA has restored trading following the publication of its audited results. The administrative pause was frustrating, but the resumption marks a return to normal operations and a renewed focus on fundamentals rather than formality.

With financial reporting now back on schedule, HSS looks better positioned to rebuild trust among institutional investors. Execution over the next few quarters will be critical, but the combination of cleaner governance and operational focus gives the group a fighting chance of restoring momentum.

Oxford Metrics keeps things moving

Oxford Metrics (OMG) delivered a steady trading update showing both revenue growth and adjusted EBIT in line with market expectations. The company’s measured approach is paying off, with progress across both its Vicon motion capture and Yotta infrastructure analytics divisions. After a period of heavier investment, the return to profitable growth is a welcome signal that the strategy is working.

While the pace of growth may be modest, it is sustainable. The company’s consistent delivery and measured tone suggest confidence without overreach. For investors seeking exposure to dependable UK tech with a global edge, Oxford Metrics remains a quiet achiever.

1Spatial lands new contract and builds momentum

1Spatial (SPA) secured a £1m SaaS deal with UK Power Networks for its 1Streetworks software, underpinning its transition toward a more recurring revenue model. The 15-month contract expands its presence in UK utilities and showcases how its technology helps organisations manage and validate spatial data. This was followed by interim results that maintained full-year guidance and highlighted a growing software pipeline.

For shareholders, the story remains about scalability. The company’s technology addresses a clear market need, and the increasing stream of SaaS contracts is evidence that the strategy is resonating. Continued delivery on this path could pave the way for a re-rating closer to its software peers.

Serica Energy broadens its base

Serica Energy (SQZ) delivered a pair of contrasting updates this fortnight. It first reported production constraints at the Triton FPSO, which will keep output below earlier guidance. Shortly after, the company announced a deal to acquire BP’s 32% interest in the Culzean gas field, plus an adjacent licence, for an upfront payment of US$232m. The acquisition, subject to partner approval, would significantly extend Serica’s gas-weighted portfolio.

Investors will watch closely for integration costs and partner reactions, but the strategic logic is clear. The acquisition reinforces Serica’s position as one of the few AIM-listed producers with meaningful scale and diversification across the North Sea.

tinyBuild delays but stays on track

tinyBuild (TBLD) updated investors on its production slate, confirming a delay to its anticipated flagship title Kingmakers. The game will now enter early access later than planned, a development that initially dented sentiment. However, management reiterated that full-year performance should still meet expectations, reflecting disciplined cost management and careful cash control.

The company’s lean operating model and strong IP catalogue give it resilience through development cycles. If Kingmakers performs well and restores confidence, the shares could find renewed momentum. For now, it remains a case of cautious optimism and patience.