DUG Technology (DUG) Q1 2025 TU earnings summary

Executive summary

• Q1 FY25 revenue reached US$14.0 million, up 9% year-over-year, with EBITDA at US$2.6 million, down 28% due to investments and sales mix.

• Services pipeline doubled since June 2022, driven by Middle East expansion and new technology offerings.

• Successful A$30.0 million capital raise in October 2024 to fund growth initiatives.

Financial highlights

• Services revenue grew 10% to US$11.9 million; Software up 29% to US$1.6 million; HPC declined 42% to US$0.5 million, all compared to Q1 FY24.

• EBITDA margin for Q1 FY25 was 19%, reflecting lower revenue and ongoing investments.

• Operating cash outflow was US$0.7 million, with total cash at US$4.2 million and net debt (excl. leases) at US$22.5 million as of 30 September 2024.

Outlook and guidance

• Capital raised will accelerate growth in data centre infrastructure, Middle East expansion, and DUG Nomad projects.

• Services order book at US$35.4 million as of 30 September 2024, with US$12.9 million in new projects awarded during the quarter.