SciDevL (SDV) Q1 2025 TU earnings summary

Executive summary

• Revenue for Q1 FY25 reached $26.1m, a 21% increase year-over-year, with strong contributions from both Chemical Services and Water Technologies.

• Underlying EBITDA was $2.7m, up 286% compared to Q1 FY24, and operating cash flow was positive at $1.4m.

• Cash and cash equivalents at quarter-end were $10.2m, up from $9.4m at June 30, 2024.

• Gross margin for the period was 29%, driven by proprietary chemistry sales in US Oilfield and domestic mining.

Financial highlights

• Revenue of $26.1m, up 21% year-over-year; cash receipts from customers matched revenue.

• Underlying EBITDA of $2.7m, a 286% increase year-over-year.

• Positive operating cash flow of $1.4m for the quarter.

• Cash and cash equivalents at quarter-end were $10.2m, with $6.1m in inventory.

• Gross margin was 29% for the quarter.

Outlook and guidance

• Management expects continued growth across all business units, with momentum from Q1 anticipated to carry through FY25.

• Slight seasonal downturn expected in Q2 FY25 before activity picks up in January.

• Ongoing expansion in US Oil & Gas and international mining markets, leveraging proprietary technologies.

• Strong domestic pipeline in Water Technologies and positive progress in US & European PFAS markets.