FY25-H1 Results Presentation

• Elastic MP-FWI pilot projects underway, generating momentum
• Software revenue up 22%, driven by renewals and offshore wind
• Services order book grew to US$42.2M, signaling strong forward momentum
• Investing in global expansion, including new Middle East office

DUG Technology reported its FY25-H1 results, with revenue of US$28.7 million, down 4% on the prior corresponding period. Software revenue was up 22% on FY24-H1, driven by strong customer renewals, continued success licensing the processing & imaging toolkit, and growth in the offshore wind market. Services revenue fell 3% due to delayed awards after the elastic MP-FWI release, but the Services order book grew to US$42.2 million at 31 January 2025, up 19% from 30 September 2024, indicating strong forward momentum. The company continued to invest in its global expansion, including the hiring and training of a Middle East team and the opening of a new office in the region. Eight elastic MP-FWI pilot projects are underway, with early contract awards signaling rising market acceptance and revenue potential. DUG also made progress on its data centre infrastructure upgrades, giving 20% headroom in the Houston facility. Overall, DUG remains focused on driving growth through its cutting-edge technology, software offerings, and global footprint.

DUG expects its elastic MP-FWI technology and modern geoscience software to drive strong revenue growth in FY25-H2 and beyond. The company's order book of US$42.2 million as of 31 January 2025 provides good visibility on future revenue.

DUG is well-positioned for continued growth, with its proprietary elastic MP-FWI technology, modern geoscience software, and global expansion strategy. The company is focused on converting pilot projects into long-term contracts, growing its multi-client business, and leveraging its unique immersion cooling and edge computing capabilities to expand into new markets.