Desert Control Released its Q3 2024 Report on 15 November 2024 and Provides Access to Company Update Webcast Materials
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(Note: the transcript includes a complete Q&A recap with written answers to all questions of the extensive Q&A session and includes both the questions that time allowed cover in the webcast plus all additional submitted questions).
DSRT Q3 and YTD 2024: Company Update Summary
Desert Control continued its positive momentum in the third quarter of 2024, achieving milestones in market expansion and pilot progress, as well as generating its first licensing revenues from the Middle East. The company has year to date more than doubled deployed LNC volume, revenue, and pipeline value compared to the same period in 2023. Based on the current development of pilots and sales pipeline supported by groundbreaking technological advances, the company anticipates multiple complete golf courses fully deployed in 2025, several phase 2 deployments in high-value agriculture in the United States, and growing revenue streams from the Middle East.
The past quarter saw strong results from pilots in agriculture and landscaping, supporting negotiations for larger commercial projects in the United States. Growing traction in the Middle East further strengthens the foundation for growth under the royalty-based licensed operator model. Further, the post-quarter event of securing commitment for the first full-scale golf course deployment under a new outcome-based business model marks an important milestone.
Operational Highlights:
Solid Pilot Results Strengthen Validation and Support Negotiations for Larger Contracts in the United States
First Licensing Royalties from the Middle East
R&D and Technology Advancements Strengthen Delivery Capabilities for Current and Future Pipeline
Financial Highlights:
In the first nine months of 2024, Desert Control reached a record number of installations, increased LNC deployment volumes, and more than doubled LNC revenue compared to the previous year. These achievements highlight enhanced operational efficiency driven by the new prototype LNC production system, streamlined integration with irrigation systems, and insights gained from pilots and prior projects.
The growth in project volume and LNC deployment, combined with improved EBITDA figures, underscores the enhanced efficiency of operations. The ability to handle larger volumes at a reduced cost base positions Desert Control to maintain healthy margins as the company scales up.
Outlook:
With solid progress in the U.S. and Middle East, Desert Control is positioned to transition pilot projects into larger contracts and expand LNC adoption in the year ahead. The upcoming readiness of the next-generation LNC production system, solid R&D progress to expand LNC's impact on soil health, and strengthened partnerships will further strengthen the company's foundation and accelerate progress in bringing economical, scalable, and sustainable solutions for soil health and water conservation to global markets. Looking ahead, 2025 is set to be another year of significant breakthroughs for Desert Control.
Q3 Report 2024:
Cautionary Note:
Disclaimer related to forward-looking statements.
This release contains forward-looking information and statements relating to the business, performance, and items that may be interpreted to impact the results of Desert Control and/or the industry and markets in which Desert Control operates.
Forward-looking statements are statements that are not historical facts and may be identified by words such as "aims," "anticipates," "believes," "estimates," "expects," "foresees," "intends," "plans," "predicts," "projects," "targets," and similar expressions. Such forward-looking statements are based on current expectations, estimates, and projections, reflect current views concerning future events, and are subject to risks, uncertainties, and assumptions, and may be subject to change without notice. Forward-looking statements are not guarantees of any future performance, and risks, uncertainties, and other important factors could cause the actual business, performance, results, or the industry and markets in which Desert Control operates to differ materially from the statements expressed or implied in this release by such forward-looking statements.
No representation is made that any of these forward-looking statements or forecasts will come to pass or that any forecasted performance, capacities, or results will be achieved, and you are cautioned not to place any undue reliance on any forward-looking statements.
For more information, please contact:
Ole Kristian Sivertsen
President and Group CEO
Email: [email protected]
Mobile (NOR): +47 957 77 777
Mobile (USA): +1 650 643 6136
Leonard Chaparian
Chief Financial Officer
Email: [email protected]
Mobile (NOR): +47 90 66 55 40
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