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DUG Technology (DUG) investor relations material
DUG Technology H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Industry-leading Elastic Multi-Parameter Full Waveform Inversion (EMPFWI/eMP-FWI) technology drove over 75 project wins, with a record $52 million order book, up 58% from December and 42% from June.
New offices in Abu Dhabi and Brazil are fully operational, significantly contributing to the order book and global expansion, including a major 4D project win in Brazil.
Software business achieved 13% annual growth, marking the largest increase in three years, despite timing issues.
Emerging businesses Doug Nomad and Doug Cool made initial sales, with strong pipelines and ongoing investment.
Expanded global presence and industry recognition are driving momentum and diversification in key energy hubs.
Financial highlights
Order book reached $52 million, with $46 million added in the last six months, and FY25 revenue grew 4% to $62.6 million.
EBITDA was $15.4 million (25% margin), with H2 margin at 30%; services revenue was $51.9 million, down 5% YoY, and software revenue grew 13% to $8.3 million.
HPCaaS revenue declined 29% YoY to $2.4 million.
Net debt reduced to $3.9 million, with total asset financing at $20.4 million and repayments ongoing.
Net loss after tax was $4.4 million, compared to a profit of $3.3 million in FY24.
Outlook and guidance
Strong order book and recent project awards provide confidence and momentum entering FY26, with pipeline at record levels.
Software growth expected to accelerate, with timing issues in FY25 masking underlying strength.
Abu Dhabi and Brazil offices forecast to contribute $15 million or more in revenue, with Middle East potential for larger projects.
Most of the order book expected to convert to revenue within 6-12 months, with MPFWI projects typically completed in under six months.
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