NXT Energy Solutions Inc. (T:SFD)
Business Focus: Oil Related - Surveying & Mapping Services
| Sector: Energy | Industry: Oil Related Services and Equipment |
| Company Contact | |
| Address: | 3320 17 Ave SW Suite 302 CALGARY AB T3E 0B4 |
| Tel: | N/A |
| Website: | www.nxtenergy.com |
| IR: | See website |
| Key People | ||
| Bruce G. Wilcox Interim Chief Executive Officer, Director | Eugene Woychyshyn Chief Financial Officer, Vice President - Finance | Thomas E. Valentine Company Secretary, Independent Director |
| Business Overview |
| NXT Energy Solutions Inc. is a Canada-based company technology company. The Company offers a geophysical service to the upstream oil and gas industry using its gravity-based Stress Field Detection (SFD) remote-sensing survey system. Its proprietary Stress Field Detection (SFD)survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method, which can be used both onshore and offshore to remotely identify traps and reservoirs with hydrocarbon and geothermal exploration potential. The SFD survey system enables its clients to focus their exploration decisions concerning land commitments, data acquisition expenditures, and prospect prioritization on areas with the potential. SFD is an airborne tool that provides information on areas conducive to fluid entrapment in the sedimentary column. The SFD survey is complementary to existing geophysical methods, particularly seismic programs. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, NXT Energy Solutions Inc. revenues increased from C$0K to C$2.1M. Net loss decreased 19% to C$5.5M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Lower net loss reflects Salaries, benefits and consulting charge decrease of 10% to C$1.5M (expense), Business development decrease of 53% to C$91K (expense). |
| Employees: | 11 as of Dec 31, 2023 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $17.23M as of Dec 31, 2023 |
| Annual revenue (TTM): | $2.15M as of Dec 31, 2023 |
| EBITDA (TTM): | -$3.52M as of Dec 31, 2023 |
| Net annual income (TTM): | -$5.45M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$4.83M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $4.37M as of Dec 31, 2023 |
| Shares outstanding: | 78,121,746 as of Apr 4, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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