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Pason Systems Inc. (T:PSI)

Business Focus: Oil Related Services and Equipment

Sector:  Energy Industry:  Oil Related Services and Equipment
See Regulatory Filings on SEDAR
Company Contact
Address: 6130 3 St SE
Tel: N/A
IR: See website
Key People
Jon Faber
President, Chief Executive Officer, Director
Russell Smith
Vice President - International
Celine Boston
Chief Financial Officer
David Elliott
Interim Chief Financial Officer
Fiona Mueller-thode
President, Verdazo Analytics Inc
Reid Wuntke
President, Energy Toolbase Software Inc
Bryce McLean
Vice President - Operations
Natalie Fenez
Vice President - Legal , Corporate Secretary
Kevin Boston
Vice President - Commercial
Lars Olesen
Vice President - Product & Technology
Business Overview
Pason Systems Inc. is a Canada-based global provider of instrumentation and data management systems for drilling rigs. The Company's geographical segments include Canada, the United States, and International. The International segment includes Latin America, Offshore, the Eastern Hemisphere, and the Middle East. The Company's solutions include data acquisition, wellsite reporting, remote communications, and Web-based information management, and enable collaboration between the rig and the office. The Company's products include Pason Service, Automatic Driller, Choke Control, Electronic Drilling Recorder (EDR), Gas Analyzer, Hazardous Gas Alarm System and DataHub, among others. The Company's rig site products include Rig Communications, Rig Display and SideKick, among others. The Company's data analysis includes DataHub, Directional System, Drilling Guidance System (DGS), Live Rig View (LRV) and LRV Mobile (LRV), among others.
Financial Overview
For the six months ended 30 June 2021, Pason SystemsInc. revenues decreased 15% to C$86.1M. Net incomedecreased 23% to C$9.6M. Revenues reflect a decrease indemand for the Company's products and services due tounfavorable market conditions. Net income also reflectsDerecognition of onerous lease decrease from C$5.8M(income) to C$0K, Stock-based compensation (recovery) expeincrease from C$1.7M to C$4.8M (expense).
Employees: 678 as of Dec 31, 2019
Reporting Currency: Canadian Dollars
Enterprise value: $676.14M as of Jun 30, 2021
Annual revenue (TTM): $141.97M as of Jun 30, 2021
EBITDA (TTM): $26.60M as of Jun 30, 2021
Net annual income (TTM): $3.76M as of Jun 30, 2021
Free cash flow (TTM): -$0.20M as of Jun 30, 2021
Net Debt Last Fiscal Year: N/A
Shares outstanding: 82,775,041 as of Jun 30, 2021
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization