I just attended the EVS investor call for their Q1 FY23 results and my notes are below. Unfortunately I missed the first 5 minutes of the call.

There were some good questions with people in particular digging into the (small amount) growth in the water segment and the value of the SA Water deal and expansion in number of sites at Water Corp. Unfortunately they didn't really shed any further light on specifics but said they were really happy with how it was progressing in line with their “Land, Expand and Scale” strategy.

Q1 Earnings call notes:

Very happy with the results.

Churn low at 2.3%, when it does happen due to construction projects finishing up (still good relationship with the builder/construction companies) and government spending reduction.

Water

Added second Australian water utility, SA Water, for SeweX. On top of existing customer Water Corp.

Only one site/catchment currently but great opportunity to expand. In line with “Land, Expand and Scale” strategy

Utilities like to start with one site/catchment as a trial and see how they can use it before rolling out to other sites.

Water Corp has expanded the number of sites using SeweX but they wouldn’t say how many specifically.

From a technology standpoint, continuing to add new features.

Outlook: 

Q1 strongest start EVS has ever had to a year. Demand only getting stronger.

Validation on the SewX opportunity via acquisition of Water Corp and SA Water. Actively talking to many other water utilities in Australia. Unique product in the market.

New RGM (Regional General Manager) for Europe, to focus and drive sales in that region.

Pathway to profitability on track.

Philippines office going well and able to attract skilled and quality employees.

Continuing to look at supply chain improvements. Signed new 3rd party contract manufacturers. Adding on capability and de-risking.

Transitioning to an adjusted EBITDA profitable position in FY23. Fully funded to reach profitability, don’t see any need to raise further capital.

Did not answer a question in the chat box on reaching statuatory profitability.

SGS partnership focused on Omnis product.

SGS active in so many segments around the world but starting focus on mining, industrial and oil & gas.

Philippine office not a “cost reduction” strategy, but “cost efficiency” way to grow at a lower marginal cost.

Putting like minded people in one environment. A centre of excellence.