Desert Control (DSRT) H1 2026 earnings summary

Executive summary

• Maintained disciplined focus on the American Southwest, prioritizing scalable markets and operational efficiency.

• Achieved commercial milestones with Berkeley and Woodland Hills Country Clubs, establishing recurring revenue base in the golf segment.

• Expanded R&D and piloting activity, with 42 pilots year-to-date and promising results in new crop types.

• Strengthened leadership team and board with key hires and appointments.

Financial highlights

• Total revenue and other income for 1H 2026 was NOK 0.7 million, down from NOK 1.7 million in 1H 2025, reflecting a transition to outcome-based revenue recognition.

• EBITDA was negative NOK 35.1 million, compared to negative NOK 30.9 million in 1H 2025.

• Net loss for the period was NOK 37.1 million, an improvement from NOK 41.3 million loss in 1H 2025.

• Cash and cash equivalents at 30 June 2026 were NOK 17.9 million, down from NOK 24.8 million at 30 June 2025.

• Equity ratio decreased to 87% from 94% at year-end 2025.

Outlook and guidance

• Focused on converting record pilot activity into commercial contracts in agriculture and golf.

• Continued investment in production capacity and R&D to support scaling and market expansion.

• Supporting Middle East partners as market conditions allow.

• Ongoing research collaborations to expand understanding and addressable market for LNC.