Norway · Delayed Price · Currency is NOK Desert Control AS Earnings Call Transcripts
Fiscal Year 2026
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A focused strategy on California and Arizona has driven rapid commercial adoption, with new production units and strong partnerships accelerating growth. Financial guidance targets breakeven by early 2028, supported by a robust pipeline and expanding customer base in high-value, water-scarce markets.
Fiscal Year 2025
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Organizational restructuring and expanded U.S. operations have positioned the company for growth, with strong pilot results in golf and agriculture and increased delivery capacity expected in 2026. Financial discipline is maintained, but adoption depends on water costs and regulatory trends.
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Q3 saw strengthened capital through a NOK 75 million rights issue, U.S. R&D relocation, and expanded pilots in California and the Middle East. Revenue remains modest but is expected to grow as validation milestones are met, with strong water savings demonstrated in turf applications.
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Q2 2025 saw operational challenges in major U.S. projects, but these have been addressed, and the company remains focused on growth in core U.S. and Middle East markets. Revenue declined due to contract structure, but cost control extended the financial runway into Q4 2025.
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Q1 2025 saw revenue growth, major customer wins, and operational scaling, especially in the U.S. and Middle East. Production capacity is the main constraint, with a strong pipeline and new rebates driving adoption. Financial runway extends into late Q3 2025.
Fiscal Year 2024
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LNC revenues and volumes more than doubled in 2024, with a tenfold increase projected for 2025, driven by major technology breakthroughs and strong commercial traction in the US and Middle East. Financial position remains robust, with NOK 64 million in cash and no debt.
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Secured first full-scale US golf course contract and first Middle East royalties, doubling LNC revenue and volume year-over-year. Next-gen production system and strong partnerships position for scalable growth in 2025, with a robust financial runway and expanding opportunity pipeline.
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Technological breakthroughs and record installations drove doubled revenue and improved EBITDA in H1 2024. Strong pilot pipeline and regulatory progress in the U.S. and Middle East set the stage for larger contracts and commercial deployments in 2025.