DUG Technology Ltd
ASX:DUG
DUG Technology Ltd
DUG Technology Ltd. engages in the provision of software solutions for scientific data analysis. The company is headquartered in Perth, Western Australia. The company went IPO on 2020-08-12. The firm offers high-performance computing as a service (HPCaaS), scientific data analysis services, and software solutions for the global technology and resource sectors. Its services include data services, geoscience services, seismic processing, full waveform inversion (FWI), depth imaging, petrophysical processing and interpretation, quantitative interpretation and regional velocity models. The Company’s HPCaaS solutions include job scheduling, file system, monitoring system, maintenance and security. The company offers DUG Insight, a software package for scientific processing and visualization. The Company’s offerings are delivered to the client through DUG McCloud platform.
DUG Technology Ltd. engages in the provision of software solutions for scientific data analysis. The company is headquartered in Perth, Western Australia. The company went IPO on 2020-08-12. The firm offers high-performance computing as a service (HPCaaS), scientific data analysis services, and software solutions for the global technology and resource sectors. Its services include data services, geoscience services, seismic processing, full waveform inversion (FWI), depth imaging, petrophysical processing and interpretation, quantitative interpretation and regional velocity models. The Company’s HPCaaS solutions include job scheduling, file system, monitoring system, maintenance and security. The company offers DUG Insight, a software package for scientific processing and visualization. The Company’s offerings are delivered to the client through DUG McCloud platform.
Order Book Growth: DUG reported a record order book of $52 million, with $46 million added in the last 6 months, reflecting strong momentum from new project wins, particularly in Abu Dhabi and Brazil.
Revenue Dip: Revenue declined by 4% for the year, which management described as disappointing but largely expected, with softness mainly in services revenue.
Software Expansion: Software revenue grew 13% year-over-year despite some timing-related accounting impacts; management expects software growth to accelerate going forward.
EBITDA Pressure: EBITDA decreased, impacted by investments in staff, new offices, and pilot projects, but the second half saw a 30% EBITDA margin and stronger financial performance.
MP-FWI Technology: The company's elastic multiparameter FWI imaging technology is gaining industry-wide acceptance, now comprising more than half of recent awards and driving order book growth.
New Markets: New offices in Abu Dhabi and Brazil are contributing to sales and the pipeline, with Middle East opportunities described as potentially very large.
Emerging Products: First sales of DUG Nomad and DUG Cool were completed (though not yet material to results), and both are building promising pipelines.
Customer Diversification: Customer concentration has declined, with no single client now accounting for 20% or more of revenue.
