DUG Technology (DUG) investor relations material

Executive summary

• Achieved record half-year revenue of $40.4 million, up 40% year-over-year, and normalised EBITDA of $13.6 million, up 161%, driven by strong Services and the ramp-up of the Malaysian EPIC contract.

• Services revenue rose 30% to $31.8 million, software revenue up 29% to $4.1 million, and HPCaaS revenue up 313% to $4.5 million, with the Services order book at $43.5 million as of December 31, 2025.

• Strong cash position at $20.7 million as of January 31, reflecting robust operating cash flow and customer receipts.

• Expanded global footprint with new offices in Abu Dhabi and Rio de Janeiro and launched new seismic projects in Equatorial Guinea.

• Net profit after tax was $1.0 million, reversing a $3.9 million loss in the prior year.

Financial highlights

• Revenue increased 40% to $40.4 million; normalised EBITDA rose 161% to $13.6 million with a 34% margin.

• Operating profit was $5.4 million, up from a $1.2 million loss prior year; net profit after tax was $1.0 million.

• Cash generated from operating activities was $7.4 million for the half.

• Net debt stood at $0.3 million at December 31, with asset financing debt at $14.6 million.

• Cash balance at $20.7 million as of January 31, up 26% from June 30.

Outlook and guidance

• Management expects continued growth in services, software, and HPC, underpinned by the Malaysian EPIC contract and a robust project pipeline.

• EBITDA margin expected to remain at or above 34% for the full year.

• Maintenance CapEx projected at $1–3 million, with total CapEx (including EPIC projects) around $14–16 million for the year.

• FY26-H2 will benefit from a full six months of EPIC contract revenue and margins.

• No plans to open additional offices in the near term.