NSFDF - Earnings call transcript Q3 2021 | NXT Energy Solutions Inc.

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Operator

0:01 All participants, thank you for standing by. The conference is ready to begin. Good day ladies and gentlemen. My name is Patrick, and I will be your conference operator today. At this time, I would like to welcome everyone to the NXT Energy Solutions Twenty Twenty One Third Quarter Operating and Financial Results Conference Call. in be will participants listen-only mode. All

of first XX:XX I the over Liszicasz. Mr. and part ahead, Please turn of Instructions]. [Operator to CEO President Liszicasz, call. conference George Energy would Mr. meeting Solutions. go the the For NXT now to like

George Liszicasz

Head conference today twenty This you, Development; twenty purpose Thank the today’s Enrique one of Rashid of NXT’s Americas; Finance highlights is Vice Geosciences today’s for joining operating conference call. Africa, us financial George Director Woychyshyn, Saqib, and Energy Project third Liszicasz Solutions of me quarter everyone Geoscientists for the and thank call Research Officer; financial discuss and operating Hung, is Interpretation XX:XX XX:XX NXT you, Engineering. third is President one Asia and Chief of welcome, and and Director of joining to and Dr. The Director Patrick, of Eugene of Middle for briefly results. for call release quarter twenty results and East; Mohammad twenty the Gui, Tippu, and Xiang of Financial

November release update, available available company press were and are our of non-GAAP NXT’s management dollars financial by note made one website. review. all this website, XX:XX published the to soon for we – financial operating consolidated Eugene and MD&A Now the forth in in dollar over twenty forward-looking EDGAR’s fifteenth. set on questions. measures All in statements and twenty for November SEDAR’s the financial reader’s will today’s will fifteen one website, statements complete release conference quarter third results for QX call unless be XX:XX are on Following otherwise line-up The on call advisory the Canadian on stated. are the twenty subject and twenty Please and amounts to during discussed regarding or open information, issued to our and

Eugene Woychyshyn

George. you, Thank XX:XX

third and control quarter analysis financial our statements the to the mentioned, effort optimize yesterday management on George discussion one filed and remained the shortly perspective, financial supporting EDGAR. a will on and available twenty continuing development As website business twenty execution of were costs. be SEDAR’s focus and on From

receivable financial and capital third the twenty activities seven point in follows. outstanding zero revenue an one two point year-to-date one. was investments million zero payments on as accounts There point year-to-date. used our eight dollars. quarter, during four at thirty one and revenue fifty was quarter but results the QX, million XX:XX Operating in million dollars twenty dollars US four were and For October The were of thousand Cash of two dollars working net twenty no three one point received point September cash dollars. seven was one company XX:XX million short-term twenty dollars million three three and

of and based the dollars dollars the dollars dollars point XX:XX related For net amortization non-cash point to quarter four million receipt G&A implementation expenses COVID-XX costs. including in one This one This three as Total to G&A one based versus point one to the employees includes the or This zero twenty five thousand per through we financial subsidy XX:XX four survey twenty one fees million seventy to thousand and loss million twenty share. twenty decreased costs. development for of costs stock million dollars common point and million the plan employee four the related due year-to-date Canada the to one one. zero seven pandemic zero one Business hundred compensation dollars twenty for through twenty million two the forty compared dollars purchase two shares per hundred point and dollars to the compensation hundred XX:XX dollars increased twenty dollars dollars ended year-to-date key twenty four third Summarize two percent operating of NXT compensation fees. dollars twenty seven twenty COVID-XX share travel seven legal quarter, stock ninety five non-cash to a of pandemic. Salaries four expenses based amortization to fifty million points, quarter twenty based Recorded zero twenty the decreased or point emergency the subsidy consulting RSU Emergency point expenses zero to were expense. stock one one dollars or share professional approximately common and by quarter stock twenty or one the charges based in expenses. three two the thousand Total and one twenty Boarding a based thousand hundred and by of due travel expenses to dollars three thousand plan. company third decreased loss for the administrative of outstanding. implementation subsidy due rent per in rate subsidy sixty professional in one dollars decreased to six This for seven thousand point plan. twenty due loss million again RSU continued of seven XX:XX higher twenty again thousand of one expenses or versus percent year-to-date XX:XX repurchase by dollars some six minimal following public dollars decreased costs as zero to dollars and periods the XX:XX the twenty two restrictions XX:XX million date, were point and decreasing dollars thousand thousand year reasons. of third million eight public expenses thirty dollars one approximately development one twenty the receipt Salaries twenty survey higher quarter. in decreased shares year-to-date in thousand with rates point the SFD’s weighted the or of plan hand, compared receivable the in restrictions expenses and the million zero to three Order of – four share, point received administrative both operating fifty down and and continue vacation one Canada NXT This respect emergency one. third twenty zero the seven recorded dollars October the Canada we of a received zero million dollars were were short-term point five year the and outstanding. through compensation average of percent data decreasing five overhead twenty rent on fourth earlier company and benefits quarter. included two twenty And vacation four six five on offset US networking fees by and three lower later Premises or including the Premises, three sales twenty net expense fees. two average due dollars due legal point share. for twenty point with twenty twenty increased charges reasons. costs investments point zero nine hundred of decrease compares weighted one per or dollars cash costs to dollars of Canada emergency fifty six following benefits point remaining hundred to five be two pre-existing of due offset costs XX:XX thousand net to seventy in ninety six loss quarter sixty on thousand thirty accounts consulting in percent compares five in increased wage and expense. rate lower lower in fifty thousand were overhead capital For in four outstanding dollars a expected of US net twenty dollars hundred eight

focus and the discuss main be execution to further like call continues back Our now would update commercial over X:XX of business George opportunities. our NXT’s to hand plans. the forward I to on

George Liszicasz

Eugene. XX:XX Thank you,

to is healthy sincere and continues at well I time. stay that to this First, convey want my everyone hope

As favorable NXT receiving a be XX:XX Council program. advisory quarter productive National Research This for and the dedicated family tested the no for data continues Progress from geothermal in fifty to sensor US although development there very NXT under receive conditions SFD existing on respect and sensor seven geothermal for different funding Eugene of and services family, sensors the [Indiscernible]. company which research third Industrial sales associated from development with resources. past did were the is SFDGT, revenues survey QX. accelerated. have the demonstrated geothermal subsurface of most mentioned, to the Assistance the remained thousand We can dollars SFD which operating have as parameters existing results Canada's

the are one We in have and two of process in domestic contracts, international. negotiating of using SFD number a interested and that companies one currently

methods integration shown Based company we that NXT the reflecting data mapping clients reviewed SFD data of enhancements to work value the XX:XX processes very help the raw output SFD them and in interpretation data. these has the commercial the into now able are clients. assist show that and drive We details and based will previously these proposals. and with to to our we'll market positive NXT and are exploration and processing the output of and to overall the feedback shown output development continuing soon. preliminary will that is hopeful cycle. all the the extend and integration XX:XX more in SFD potential on big results As communicated, upstream potential update has be terms the begun

important the with lies engaged offshore priority development, provide the and is business We exploration. in risk ESG update and as Africa the solutions continue. cost XX:XX commercially operators, one and our country. remains of sustained also already you on We among promising will in is company in frontier patent hydrocarbon National that currently also as the as or which will XX:XX effective India basis been company generated The well. exploration geothermal business for The operators. other we'll recently interest as most our explorers still NXT recognized time Africa opportunities utilization mitigate manner. in has announced we a discussion with in the friendly international SFD And believe these most Nigeria confidence has of granted, and

made projects significant Latin to with out last since Asia we have call. Turning redemption progress and where our America

current repeat the optimistic are and Asia. and negotiations business lead to America will in We Latin new

has survey report further our Asia. opportunities core companies in course. with We new made areas are with with In provide excellent South pleased Southeast hope SFD opportunities market June continue and and and Asia to information QX to of update in within in Africa, Mexico, South focus progress well summary, Hydrocarbon XX:XX the survey respect to America. that NXT progress With in

Directors SFDGT services. about conclusion, the focused remain and our on about to families. on the support. Additionally, XX:XX to extremely behalf team, to value multiple and inquired NXT your We We highly execution all you geothermal you of new of continued surveys deliver companies thank in of for entire I have best contract our our and their want our of prospects In for optimistic, the shareholders health reached to Board order shareholders.

I ask to a the few for Now line questions. Patrick

Operator

Thank XX:XX you.

First We Instructions] is go take [Operator will now ThinkEquity. ahead. Please from Gary questions lines. from DiStefano telephone from the question

Gary DiStefano

to George, Hey, on Congratulations team. next your date. XX:XX successes continued Eugene,

the sales any quick Thanks. Just follow-up. you your between forward wanted and going expectations service general just time. other data to question But around questions, going anticipation verticals And quick as two sales and I the have question we split revenue any my around skip well? have forward? revenue and appreciate a is the do I'll potential for one other ask and

George Liszicasz

I'll first answer So the question. XX:XX

on we're be revenue library. So, we of out are regards we're sales and forecasting ours actively, to our split we're open sale, revenue to data most data of our but service always versus of it's to sales service

Eugene Woychyshyn

was different the we XX:XX international establishing verticals? verticals. in are the of and it yes, That the was So a process second, domestic

for as one are to well. special an working vehicle buying things international we been going We as and the also of for an are progress, the to But thank number have give we And again a domestic XX:XX know, how one update. as to approached going we purpose questions. soon our on also, with you companies your are currently join now

Gary DiStefano

Great. you. XX:XX Thank

Operator

More next Thank [Operator ahead. Instructions] you. Please from from question go Management. XX:XX Mork Michael The is Capital question

Michael Mork

for XX:XX update. the Yeah. Thanks

advantages like client As SFD a the and and long on one the technology does whatever has it One, has once update. follow questions. time contract. take to used cost to good so get is, why two seen the the the second Yeah, ten it

George Liszicasz

hear XX:XX Thank from you, you. Mike. Good

answer. You want to

Eugene Woychyshyn

Yes. XX:XX

George Liszicasz

XX:XX Okay.

continue. I then and start You

Eugene Woychyshyn

the or from exploration. takes to we of recommendation XX:XX how exploration four drilling this custom years. Historically. this have it maybe the the And the normal Mike well, is historically is seen time the of about

it see maybe market this is tools. for that We to new and be of and brings the in new cycle. to the that of up to and trying accelerate it being facilitate can the are that we environment technology these And of need one time process accelerated a more play to tools

George Liszicasz

XX:XX people if to a because people Also you meet part the much was it's face of face, pandemic accessing big there. don't

Eugene Woychyshyn

our But XX:XX this success where worldwide. the drilled was shorter with early it and with was are not the it took in done eighteen twelve twenty we of Same fifteen year. twenty later eighteen. see discovery will to sixteen and this which twenty well Argentina, core drill in twenty. the a reached half that Mexico, as and you in success in timeframe right had Similar some I can was other XX:XX twenty general maybe in Also was was have twenty that maybe in service recommendations ones twenty

Michael Mork

That's analysis second members Okay. very and can I'll your XX:XX board private nd national since two now company oil extensive bit the we you reasons. profit profit have the they're helpful. public sector take company’s both clients? the little obvious experience do you a And for sector But question longer is, have analyses, last more the attack think my

Eugene Woychyshyn

technology Africa, last would XX:XX expressed we have introduction of which Asia, would in there are further our also in meetings, SFD members a which their Both countries the one and so of going Nigeria would the of introduction when to India of the and them and Indonesia surrounding be board be domain the board on. include

bit repeat with is the procurement One become is government rather the and but the also things And companies, a of not than is is the the process offices. political agencies we have more government little issues EMP that service commercial. only lengthy

make so very, hopeful very generating data we ninety has contract that extremely sure you which good will a work hard are these And result current have very it growth to to we have is to opposed as and that it, as interpreted to percent existing, and to we return contact, which that of that, secular acquired because been so. our nine also you we that believe revenues have is to on going wait selling and So

value it's SFD hope wonderful source the I So you technology. a XX:XX of a it's good Mike. revenue that So, and the question, recognition of of

Michael Mork

Yes, very did. Thank It XX:XX you is good. very you much.

Operator

[Indiscernible] XX:XX Thank you. go The next question is from ahead. Thomas Please Wood

Unidentified Analyst

XX:XX if the it you Hey, are Thanks any to geothermal for developing George that could color kind nothing talking new timeline Thanks anything on much for now, of seems just right like for, bit little of some about topical and really much. realm? plans so very I'm Team. and marketing if that if benchmarks could talk just updates. what wondering that's you're the the and I looking or a about more technology that guys was you a exciting more venture so wondering else stuff, add

George Liszicasz

XX:XX Thank and testing Dr. hear for very you. William the Great it I, we working sensor hard Tom. from and on are so geothermal the you, and on. evaluating and development also also and the technology to

pleased is console the assistance, national We that side. on development are research to so very have the and

I will also geothermal Now ask the these utilizing elaborate the benefit which the the could to importance on why companies technology technology, positive. just and utilizing first. is very from interested are all companies

Eugene Woychyshyn

those coming important the is it's Yes, or non happen as long very especially term solution few more for XX:XX overall slowed, sources forward, base because go green technology power becoming this is this more out, a more more the SFD power development pointed in a geothermal we it’s more is energy is that of important which alternative space, one mix. predictable. intermittent, And and and

we test space the the occupies the have very that from results going SFD far be seen that sooner surveys better the to of the we development. it we've that So so as in some part sector, undertaken good have is

that So, this would are conclusion yes, soon. go. about excited where And comes quite very we into hopefully

George Liszicasz

XX:XX Yes.

soon. to Tom? Any are secure follow-up questions hoping contract the We

Unidentified Analyst

XX:XX Yes.

clarity. for Just

feeling are matter with accomplish? it's you So as it you the And trying some guys of time are guys clients, there are developmental still looking out technology working now a or that benchmarks just is now? first though to

George Liszicasz

Both. XX:XX

the can are technology between it speaking technical we but much are and the the too that because So, working factors geothermal as several stands also utilized, that be are improving application the shared today to I'm more suit on extension. side there

Eugene Woychyshyn

example. another It’s XX:XX

George Liszicasz

XX:XX [Indiscernible]

Eugene Woychyshyn

XX:XX George down And deployable pointed It's out we family And system, later finalizing basically makes usable the fit redesigned the the of which way course, of the continues now. geothermal in of day. geothermal, the a right few the to on modifications, ground end in the system that's it up same know sense And current basically is pointed of are We is as the yes, requirements opportunities. needed were working into it time, very, at very comes I the with fact technological some think the commercial But from is fact applications. space. Geothermal having the on current specifically out geothermal the for it for dedicated appropriately and in that from similar at hydrocarbon what the make

so, It but meantime. be commercial work So, that's it opportunities to stop be pursuing predictable faster, fit better. would the would not better more and in the this going

Unidentified Analyst

XX:XX so Appreciate you much. guys it. Thank

Operator

XX:XX Thank you.

back this like over time, meeting I no Liszicasz. have to to would We registered. further questions turn At

George Liszicasz

and if to would conference everyone you're if questions, for your us our you health with XX:XX other next families time, have there are any In case, a please participating until And call. that staying today. give I questions, call thank normal and like good

very which Thank you going available are we on much. much always be We the focused. to very unless I are road,

Operator

now conference The Please disconnect your at ended. this has you. lines your and thank time you for Thank XX:XX participation.

NXT Energy Solutions (NSFDF) 16 Nov 212021 Q3 Earnings call transcript