McCoy Global (MCB) Planet MicroCap Showcase: TORONTO 2025 summary

Key business highlights

• Smart products now account for nearly 60% of sales, driving growth despite declining rig activity.

• Revenue growth is attributed to strong adoption of next-generation technologies, outperforming peers by 42% over the past year.

• The company maintains a clean balance sheet with $6.6 million in cash and over $12 million in available credit.

• Operations span North America and the Eastern Hemisphere, with recent expansion into a larger Dubai facility.

• Customers include major multinationals and regional players, with products shipped to 50 countries annually.

Technology and product development

• Transitioned from legacy hydraulic equipment to smart, software-driven products over the past four years.

• Invested $30 million since 2017 in technology roadmap, including acquisitions and product development.

• Smart technologies have seen initial market success, especially in West Texas, despite declining rig counts.

• The smarTR package has been commercialized and is in early stages of market adoption.

• New smart hydraulic casing running tools are positioned for upcoming contract opportunities in the Middle East.

Market outlook and growth opportunities

• Despite weak oil prices and lower rig counts, growth is expected from global diversification and new technology adoption.

• Large $11 million smarTR order shipped in the U.S.; full adoption expected by 2026.

• Middle East contracts for over 100 rigs will require hydraulic tools, creating a significant sales opportunity in 2025.

• Saudi Aramco contracts in 2027 are expected to further drive demand for hydraulic tools.

• Global market opportunity estimated at 800 rigs for smarTR packages, each valued at $1.2–$1.5 million.