Sean K
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DUG - DUG Technology
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Dona Ferentes
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and a swan dive.. ...1H24 out and sold down 25 per cent to sub $2 at opening
bk1
Follow the money
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At reporting time, buyer beware...
Dona Ferentes
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Small Cap Syndrome
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I thought datacentre operators were all the rage. Look at NXT go.
Dona Ferentes
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Highlights
• DUG delivered a strong financial performance over the six month period, compared with H1 FY23.
o Revenue of US$30.0 million, up 23%
▪ Services business revenue increased by 28%
▪ Software business revenue increased by 9%
o EBITDA of US$7.1 million, up 3%. This EBITDA result includes US$2.3 million spent on third party compute. Additional compute is necessary until the previously announced compute upgrades are fully operational (expected to be complete by late April). Once complete, this upgrade effectively doubles DUG’s compute capacity.
o Net Profit after tax of US$1.3 million compared to US$1.9 million.
• Operating cash inflow of US$6.2 million, up from an inflow of US$3.0 million in H1 FY23
• Cash on hand of US$11.7 million with net cash of US$1.1 million, including new asset financing facilities at reporting date.
• Services order book of US$40.5 million at 31 December 2023 up 45% on 30 June 2023.
• Operating cash flows are expected to strengthen further in H2 FY24.
.
sold off to as low as $1.80 but coming back up.
.
DUG Managing Director, Matt Lamont said:
"This result demonstrates further strengthening of our business, driven by increased momentum in the Oil & Gas exploration & production sector. Our Services wins grew strongly by 64% on H1 FY23, whilst delivering record high revenues for the period.
The Company recorded EBITDA of US$ 7.1m. For the first time we incurred third party compute costs; these costs are expected to cease when the compute upgrade is complete. It has been significantly more expensive to purchase third party compute than it is for DUG to provide its own.
The balance sheet is stronger following positive operating cash generation for the period, operating profit and employee loan funded share repayments. We expect this to strengthen further. Debt levels are low and include new financing facilities to fund growth capex.
The outlook for our Services business continues to strengthen, evidenced by the signing of US$40.6 of million new Services work in the reported period. We have discussed previously the potential of our unique MP-FWI algorithm to disrupt the seismic processing and imaging market. It is pleasing to note that after offering services based on MP-FWI for two years, we believe DUG still has a unique offering and we continue to see the momentum building behind this game changing technology. The sales of Services based on MP-FWI are the sole reason for the compute upgrades.
We are very pleased to have opened a new office. A Geophysical Manager to co-ordinate the Middle East business development and operations has moved with his family to Abu Dhabi. We expect to add a key technical geophysicist to his team shortly."
• DUG delivered a strong financial performance over the six month period, compared with H1 FY23.
o Revenue of US$30.0 million, up 23%
▪ Services business revenue increased by 28%
▪ Software business revenue increased by 9%
o EBITDA of US$7.1 million, up 3%. This EBITDA result includes US$2.3 million spent on third party compute. Additional compute is necessary until the previously announced compute upgrades are fully operational (expected to be complete by late April). Once complete, this upgrade effectively doubles DUG’s compute capacity.
o Net Profit after tax of US$1.3 million compared to US$1.9 million.
• Operating cash inflow of US$6.2 million, up from an inflow of US$3.0 million in H1 FY23
• Cash on hand of US$11.7 million with net cash of US$1.1 million, including new asset financing facilities at reporting date.
• Services order book of US$40.5 million at 31 December 2023 up 45% on 30 June 2023.
• Operating cash flows are expected to strengthen further in H2 FY24.
.
sold off to as low as $1.80 but coming back up.
.
DUG Managing Director, Matt Lamont said:
"This result demonstrates further strengthening of our business, driven by increased momentum in the Oil & Gas exploration & production sector. Our Services wins grew strongly by 64% on H1 FY23, whilst delivering record high revenues for the period.
The Company recorded EBITDA of US$ 7.1m. For the first time we incurred third party compute costs; these costs are expected to cease when the compute upgrade is complete. It has been significantly more expensive to purchase third party compute than it is for DUG to provide its own.
The balance sheet is stronger following positive operating cash generation for the period, operating profit and employee loan funded share repayments. We expect this to strengthen further. Debt levels are low and include new financing facilities to fund growth capex.
The outlook for our Services business continues to strengthen, evidenced by the signing of US$40.6 of million new Services work in the reported period. We have discussed previously the potential of our unique MP-FWI algorithm to disrupt the seismic processing and imaging market. It is pleasing to note that after offering services based on MP-FWI for two years, we believe DUG still has a unique offering and we continue to see the momentum building behind this game changing technology. The sales of Services based on MP-FWI are the sole reason for the compute upgrades.
We are very pleased to have opened a new office. A Geophysical Manager to co-ordinate the Middle East business development and operations has moved with his family to Abu Dhabi. We expect to add a key technical geophysicist to his team shortly."
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Dona Ferentes
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but there, that didn't hurt a bit. From as low as $1.80, DUG recovered to close to where it was, three days before.
weak hands, strong hands.
CY24 comp.@debtfree
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Dona Ferentes
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April comp update... @debtfree
No business announcements or developments for March.
Market price holding to a 40 per cent rise in CY24, but a bit of a sideways action since Jan gains, with one large fund Perennial dropping holding 2 per cent to 8.7%
And included in All Ordinaries – on March 18, 2024
No business announcements or developments for March.
Market price holding to a 40 per cent rise in CY24, but a bit of a sideways action since Jan gains, with one large fund Perennial dropping holding 2 per cent to 8.7%
And included in All Ordinaries – on March 18, 2024
Sean K
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Should this have a $360m MC? Made US$7m in H1.
Still running higher.
Still running higher.
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Datacentres are in demand. DUG making new highs, MAQ near new highs, NXT, GMG also going higher.
(heh, heh and they're going to need lots of copper wire, cooling systems and electricity)
(heh, heh and they're going to need lots of copper wire, cooling systems and electricity)
Dona Ferentes
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@debtfree - May narrative for CY24 comp entry
Director added to holdings on-market , early April
Update to market - 01 May
Highlights
• Total revenue in Q3 FY24 was US$17.6 million, an increase of 39% on Q3 FY23.
• EBITDA for Q3 FY24 of US$4.6 million, an increase of 24% on Q3 FY23. EBITDA includes third-party compute costs of US$2.6 million.
• Operating cash inflows for Q3 FY24 of US$6.4 million, a US$1.5 million increase on Q3FY23.
• Total cash held at 31 March 2024 was US$15.0 million with net cash (excluding AASB 16 leases) at 31 March 2024 of US$5.4 million.
• US$13.6 million in new Services projects awarded during the quarter, lifting the total Services order book at 31 March 2024 to US$43.1 million, a 6% increase on 31 December 2023.
.
well received, then profit taking (?) on the recent update
Director added to holdings on-market , early April
Update to market - 01 May
Highlights
• Total revenue in Q3 FY24 was US$17.6 million, an increase of 39% on Q3 FY23.
• EBITDA for Q3 FY24 of US$4.6 million, an increase of 24% on Q3 FY23. EBITDA includes third-party compute costs of US$2.6 million.
• Operating cash inflows for Q3 FY24 of US$6.4 million, a US$1.5 million increase on Q3FY23.
• Total cash held at 31 March 2024 was US$15.0 million with net cash (excluding AASB 16 leases) at 31 March 2024 of US$5.4 million.
• US$13.6 million in new Services projects awarded during the quarter, lifting the total Services order book at 31 March 2024 to US$43.1 million, a 6% increase on 31 December 2023.
.
well received, then profit taking (?) on the recent update
Dona Ferentes
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ring that bell, Sean ?!?!
Dona Ferentes
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June narrative for CY24 comp .. @debtfree
Since Update to market - 01 May there's been scant news ...
..a director sold $120k on 07 May
..Perennial took holding from 10 per cent to 11 per cent ( ish )
looks like the initially "well received, then profit taking (?)" notion has continued for the last 4 weeks.
Dona Ferentes
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selloff seems to have stabilised... $2.49
.
New compute delivered and finance arrangements concluded
As a result of the RAM upgrades to its existing machines, the purchase of the 600 Intel® Xeon® CPU Max Series machines and the new AMD machines, DUG is no longer incurring third-party compute costs.
DUG has received credit approval to finance the 1,500 new machines under the existing Master Lease Agreement with First National Capital LLC1
.
The key terms of the Lease Facility are as follows:
• Funding of US$20.9 million provided
• Monthly repayments totalling US$0.65 million over a 36-month term
• A deposit of US$1.3 million is paid in advance at commencement of the financing, applied to the final two repayments
• A final additional balloon payment calculated as 10% - 15% of the initial cost of the funded assets
• Following the final repayment, DUG retains title to the assets.
Managing Director Dr Matthew Lamont said: “I am pleased to see our HPC capabilities grow in response to the demand we see moving forward. These are good times!”
.
@debtfree ..July comp
.
New compute delivered and finance arrangements concluded
As a result of the RAM upgrades to its existing machines, the purchase of the 600 Intel® Xeon® CPU Max Series machines and the new AMD machines, DUG is no longer incurring third-party compute costs.
DUG has received credit approval to finance the 1,500 new machines under the existing Master Lease Agreement with First National Capital LLC1
.
The key terms of the Lease Facility are as follows:
• Funding of US$20.9 million provided
• Monthly repayments totalling US$0.65 million over a 36-month term
• A deposit of US$1.3 million is paid in advance at commencement of the financing, applied to the final two repayments
• A final additional balloon payment calculated as 10% - 15% of the initial cost of the funded assets
• Following the final repayment, DUG retains title to the assets.
Managing Director Dr Matthew Lamont said: “I am pleased to see our HPC capabilities grow in response to the demand we see moving forward. These are good times!”
.
@debtfree ..July comp
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Fantastic, especially given how hard it is to actually get your hands on processors at the moment.
Will be interested in the next business update to see if there is continued strength in middle eastern demand.
Will be interested in the next business update to see if there is continued strength in middle eastern demand.
Dona Ferentes
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clawing its way back .. $2.68
... up 41 per cent for CY24
missed that
, @debtfreeand Quarterly will be out soon
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I really enjoyed the Webinar today. Will paste the link here when its provided.
It seems that they have a solid growth strategy, and was interesting to hear all the questions from notable research analyst at fairly large firms.
It seems that they have a solid growth strategy, and was interesting to hear all the questions from notable research analyst at fairly large firms.
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Dona Ferentes
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for August comment ... @debtfree
DUG trading sideways for a while .. $2.65.
there was an investor presentation out late July, recapping the various segments. Relating to having a major sign-up today,, thanks @BossMan. some info on DUG Cool:
DUG has been delivering innovative, immersion-cooling solutions for over a decade and is now commercialising this elegantly simple, scalable and safe cooling solution.
o Low Power Usage Effectiveness (low is good)
o Reduce water usage by over 25%
o Reduce power usage by over 50%
o Increase compute density with over 50 kW per rack
o 85% less embodied CO2
o 85% less synthetic refrigerants
DUG trading sideways for a while .. $2.65.
there was an investor presentation out late July, recapping the various segments. Relating to having a major sign-up today,
, thanks @BossMan. some info on DUG Cool:DUG Cool:
Industrial immersion cooling, at scale
Industrial immersion cooling, at scale
DUG has been delivering innovative, immersion-cooling solutions for over a decade and is now commercialising this elegantly simple, scalable and safe cooling solution.
o Low Power Usage Effectiveness (low is good)
o Reduce water usage by over 25%
o Reduce power usage by over 50%
o Increase compute density with over 50 kW per rack
o 85% less embodied CO2
o 85% less synthetic refrigerants
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Rally into results released Thursday next week I can only assume. Up 15% in the last 5 days. I really liked there last webinar and there were a lot of research analyst from Wilson and boutique investment funds asking questions at the end.
Wonder if we are seeing some big money?
Wonder if we are seeing some big money?
