Q1 2023 Electromagnetic Geoservices ASA Earnings Presentation (Pre-Recorded) Transcript

May 26, 2023 / NTS GMT
Presentation (Pre-Recorded)
May 26, 2023 / NTS GMT

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Corporate Participants
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* Bjørn Petter Lindhom
Electromagnetic Geoservices ASA - CEO
* Anders Eimstad
Electromagnetic Geoservices ASA - CFO

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Bjørn Petter Lindhom - Electromagnetic Geoservices ASA - CEO

Welcome to the presentation of EMGS's first-quarter 2023 results. I'm here with our CFO, Anders Eimstad. Together, we will present these results. Please take note of our disclaimer.

This quarter is our eighth consecutive profitable quarter, which is the first for EMGS and another testimony to our flexible cost model. The revenue for the quarter came in at $5 million, almost all of which are late sales from our multi-client library in Norway. Our EBITDA was $3.1 million, and the adjusted EBITDA $2.4 million. The net income was $0.5 million.

There were no changes to our convertible bond loan during the quarter, and it remains at approximately $19.5 million. Our free cash at the end of the

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