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Argeo
Argeo (ARGEO) investor relations material
Argeo has been delisted
Argeo Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2025 earnings summary15 May, 2025
Executive summary
Revenue rose to USD 11.5 million in Q1 2025, up from USD 9.5 million year-over-year, mainly due to a contract in Namibia.
Net loss was USD 4.2 million, compared to a profit of USD 1.9 million in Q1 2024, but improved from a USD 8.5 million loss in Q4 2024.
Major contract wins included preferred supplier status for a four-year ROV/AUV support vessel contract in South America, with key projects completed in Namibia and Suriname.
CEO transition: Trond Crantz stepped down, Odd Erik Rudshaug is interim CEO, and a search for a new CEO is ongoing.
Safety performance was strong with zero recordable incidents or lost time injuries in over 210,000 exposure hours.
Financial highlights
EBITDA was negative USD 0.2 million, down from positive USD 2.9 million in Q1 2024, but improved from -USD 5.7 million in Q4 2024.
Backlog at quarter-end was USD 14 million, expected to rise to USD 164 million upon formalizing a South American contract.
Cash at quarter-end was USD 4.1 million, up from USD 0.8 million at year-end 2024, aided by a USD 13.3 million share issue.
Tender volume at quarter-end was USD 197 million.
Cost of sales increased to USD 10.2 million from USD 5.3 million year-over-year, reflecting higher vessel activity.
Outlook and guidance
Oil & gas will be the primary revenue stream in 2025 due to delays in marine minerals and wind energy projects.
Market uncertainty is expected to persist in 2025 due to geopolitical and economic factors, especially in renewables and marine minerals.
A steady pipeline is expected into 2026, with a focus on securing long-term contracts and frame agreements.
Sales from the Suriname multi-client project are expected to begin in 2025.
Operational performance is solid, with active bidding and project discussions ongoing for the remainder of the year.
Explain the impact of policy reversals on offshore wind.
What distribution channels are being explored for sensors?
How does Argeo ensure human rights in its operations?
Reason for South America contract signing delay
Details on planned organizational modifications
Mitigation strategy for wind/minerals delays
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Latest events from Argeo
- Revenue up 1037% YoY, backlog at $45M, and major contracts drive strong Q2 growth.ARGEO
Q2 202423 Jan 2026 - Record revenue up 336% YoY to USD 23M, strong backlog, and robust offshore market outlook.ARGEOQ3 202412 Jan 2026
- Q4 revenue surged, losses narrowed, and strong backlog and contracts support 2025 growth.ARGEOQ4 202426 Dec 2025
- Argeo posts 561% revenue growth in H1 2024, fueled by innovation and major project wins.ARGEOPareto Securities' 31st annual Energy Conference Presentation13 Jun 2025
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