Ankündigung • Jun 02
Electromagnetic Geoservices Asa Announces Vangen Will Not Stand for Election of Board of Directors Electromagnetic Geoservices ASA at its annual general meeting scheduled for June 24, 2026, announced that Mr. Vangen has informed the Nomination Committee that he will not stand for re-election. Ankündigung • Apr 29
P-2 Riggs Capital, Inc completed the acquisition of EM Business from Electromagnetic Geoservices ASA (OB:EMGS). P-2 Riggs Capital, Inc signed a non-binding term sheet to acquire EM Business from Electromagnetic Geoservices ASA (OB:EMGS) for $2.5 million on March 9, 2026. P-2 Riggs Capital, Inc entered into a binding transaction agreement to acquire EM Business from Electromagnetic Geoservices ASA (OB:EMGS) for $2.5 million on March 31, 2026. Under the terms of the transaction, $1 million is paid on closing and $1.5 million is a conditional earn-out subject to certain future conditions being met. Additionally, through the Transaction certain future liabilities which would otherwise accrue to EMGS will be taken over by NewCo and will consequently reduce EMGS' total liabilities post-closing of the Transaction. As part of the transaction EMGS will acquire EMGS' business operations and assets, including hardware, IPR, contractual positions and all of the Company's employees (EM Business) and EMGS will transfer its business operations and assets to one of its existing subsidiaries (NewCo), and then transfer ownership of NewCo to the buyer. EMGS's historical liabilities, including the convertible bond issue EMGS03, will not be transferred to NewCo. As part of the Transaction, NewCo will take over all rights to the name Electromagnetic Geoservices and EMGS. Consequently, the Company will in due course change its own name in accordance with the Agreement. The majority of the consideration to be paid to EMGS on closing of the Transaction will be used to settle certain pre-existing obligations related to the transferred employee group.
The buyer will conduct a legal, operational, and financial due diligence review of the EM Business. Completion of the transaction is subject to several conditions, including obtaining required consents and waivers from bondholders of EMGS. It is not expected that completion of the transaction will be subject to a general meeting vote by the shareholders of EMGS due to the time-sensitive nature of the transaction.
P-2 Riggs Capital, Inc completed the acquisition of EM Business from Electromagnetic Geoservices ASA (OB:EMGS) on April 29, 2026. Ankündigung • Mar 10
An undisclosed buyer signed a non-binding term sheet to acquire EM Business from Electromagnetic Geoservices ASA (OB:EMGS). An undisclosed buyer signed a non-binding term sheet to acquire EM Business from Electromagnetic Geoservices ASA (OB:EMGS) on March 9, 2026. As part of the transaction EMGS will acquire EMGS' business operations and assets, including hardware, IPR,
contractual positions and all of the Company's employees (EM Business) and EMGS will transfer its business operations and assets to one of its existing subsidiaries (NewCo), and then transfer ownership of NewCo to the buyer. EMGS's historical liabilities, including the convertible bond issue EMGS03, will not be transferred to NewCo.
The buyer will conduct a legal, operational, and financial due diligence review of the EM Business. Completion of the transaction is subject to several conditions, including obtaining required consents and waivers from bondholders of EMGS. It is not expected that completion of the transaction will be subject to a general meeting vote by the shareholders of EMGS due to the time-sensitive nature of the transaction. Reported Earnings • Feb 15
Full year 2025 earnings released: US$0.11 loss per share (vs US$0.022 profit in FY 2024) Full year 2025 results: US$0.11 loss per share (down from US$0.022 profit in FY 2024). Revenue: US$23.6m (down 4.6% from FY 2024). Net loss: US$14.3m (down US$17.1m from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has fallen by 60% per year, which means it is performing significantly worse than earnings. Ankündigung • Jan 12
Electromagnetic Geoservices ASA, Annual General Meeting, Jun 24, 2026 Electromagnetic Geoservices ASA, Annual General Meeting, Jun 24, 2026. Reported Earnings • Nov 07
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: US$66.0k (down 94% from 3Q 2024). Net loss: US$6.48m (loss widened 28% from 3Q 2024). Buy Or Sell Opportunity • Nov 06
Now 75% undervalued after recent price drop Over the last 90 days, the stock has fallen 88% to kr0.25. The fair value is estimated to be kr0.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.3% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to kr1.11, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 7x in the Energy Services industry in Norway. Total loss to shareholders of 38% over the past three years. New Risk • Aug 14
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Market cap is less than US$100m (kr209.6m market cap, or US$20.6m). Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr1.60, the stock trades at a trailing P/E ratio of 2.8x. Average trailing P/E is 7x in the Energy Services industry in Norway. Total loss to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr2.03, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 7x in the Energy Services industry in Norway. Total returns to shareholders of 1.5% over the past three years. Ankündigung • Jun 20
Electromagnetic Geoservices ASA Elects Board of Directors Electromagnetic Geoservices ASA at the Annual general meeting held on June 19, 2025, elected the new board of directors of the company, each of them for a service period of one year: Kenneth Ross (Chairman); Stig Tore Vangen; Glenn Pettersen; Marianne Engelsen Hals; Sasha Siem. New Risk • May 14
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 37% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (37% accrual ratio). Minor Risks High level of debt (342% net debt to equity). Share price has been volatile over the past 3 months (10.0% average weekly change). Market cap is less than US$100m (kr225.3m market cap, or US$21.9m). Valuation Update With 7 Day Price Move • May 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to kr1.80, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 7x in the Energy Services industry in Norway. Total returns to shareholders of 9.1% over the past three years. Reported Earnings • Apr 28
Full year 2024 earnings released: EPS: US$0.022 (vs US$0.062 loss in FY 2023) Full year 2024 results: EPS: US$0.022 (up from US$0.062 loss in FY 2023). Revenue: US$24.7m (up 210% from FY 2023). Net income: US$2.82m (up US$11.0m from FY 2023). Profit margin: 11% (up from net loss in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 83 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to kr1.70, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 8x in the Energy Services industry in Norway. Total loss to shareholders of 6.9% over the past three years. Buy Or Sell Opportunity • Mar 26
Now 20% undervalued Over the last 90 days, the stock has risen 6.2% to kr2.07. The fair value is estimated to be kr2.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 28% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Feb 27
Now 22% undervalued Over the last 90 days, the stock has risen 2.9% to kr2.10. The fair value is estimated to be kr2.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 28% over the last 3 years. Meanwhile, the company has become profitable. Buy Or Sell Opportunity • Feb 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.8% to kr2.16. The fair value is estimated to be kr2.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 28% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Feb 11
Full year 2024 earnings released: EPS: US$0.022 (vs US$0.062 loss in FY 2023) Full year 2024 results: EPS: US$0.022 (up from US$0.062 loss in FY 2023). Revenue: US$24.7m (up 210% from FY 2023). Net income: US$2.82m (up US$11.0m from FY 2023). Profit margin: 11% (up from net loss in FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. New Risk • Feb 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Norwegian stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$4.6m). Earnings have declined by 6.8% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (kr301.2m market cap, or US$26.9m). Ankündigung • Jan 01
Electromagnetic Geoservices ASA, Annual General Meeting, Jun 19, 2025 Electromagnetic Geoservices ASA, Annual General Meeting, Jun 19, 2025. Board Change • Dec 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Independent Director Beatriz de Molina was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. New Risk • Nov 08
New major risk - Negative shareholders equity The company has negative equity. Total equity: -US$4.6m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$4.6m). Earnings have declined by 6.8% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr265.9m market cap, or US$24.4m). Reported Earnings • Aug 22
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: US$13.8m (up US$13.6m from 2Q 2023). Net income: US$3.65m (up US$6.82m from 2Q 2023). Profit margin: 27% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. New Risk • Jul 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Norwegian stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Negative equity (-US$3.2m). Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Revenue is less than US$5m (US$3.2m revenue). Market cap is less than US$100m (kr369.3m market cap, or US$33.5m). Ankündigung • Jul 09
Electromagnetic Geoservices ASA Provides Revenue Guidance for the Second Quarter 2024 Electromagnetic Geoservices ASA provided revenue guidance for the second quarter 2024. The company expected to record approximately USD 13.3 million in multi-client revenues for the second quarter of 2024. Reported Earnings • May 10
First quarter 2024 earnings released: US$0.029 loss per share (vs US$0.003 profit in 1Q 2023) First quarter 2024 results: US$0.029 loss per share (down from US$0.003 profit in 1Q 2023). Revenue: US$239.0k (down 95% from 1Q 2023). Net loss: US$3.84m (down US$4.29m from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 11% per year. Reported Earnings • Apr 22
Full year 2023 earnings released: US$0.062 loss per share (vs US$0.085 profit in FY 2022) Full year 2023 results: US$0.062 loss per share (down from US$0.085 profit in FY 2022). Revenue: US$7.99m (down 77% from FY 2022). Net loss: US$8.18m (down 173% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 15
Full year 2023 earnings released: US$0.062 loss per share (vs US$0.085 profit in FY 2022) Full year 2023 results: US$0.062 loss per share (down from US$0.085 profit in FY 2022). Revenue: US$7.99m (down 77% from FY 2022). Net loss: US$8.18m (down 173% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Ankündigung • Jan 09
Electromagnetic Geoservices ASA Provides Multi-Client Revenue Guidance for the Fourth Quarter of 2023 Electromagnetic Geoservices ASA provided multi-client revenue guidance for the third quarter of 2022. The company expects to record approximately USD 0.8 million in multi-client revenues for the fourth quarter of 2023. Buying Opportunity • Dec 29
Now 22% undervalued Over the last 90 days, the stock is up 12%. The fair value is estimated to be kr3.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.1% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to kr2.63, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 9x in the Energy Services industry in Norway. Total returns to shareholders of 102% over the past three years. Reported Earnings • Nov 09
Third quarter 2023 earnings released: US$0.014 loss per share (vs US$0.006 profit in 3Q 2022) Third quarter 2023 results: US$0.014 loss per share (down from US$0.006 profit in 3Q 2022). Revenue: US$1.63m (down 75% from 3Q 2022). Net loss: US$1.79m (down 332% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth. New Risk • Aug 17
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.8x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.8x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.4% average weekly change). Profit margins are more than 30% lower than last year (18% net profit margin). Market cap is less than US$100m (kr340.5m market cap, or US$32.2m). Reported Earnings • Aug 17
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: US$194.0k (down 97% from 2Q 2022). Net loss: US$3.17m (down 271% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 55% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr2.98, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 11x in the Energy Services industry in Norway. Total returns to shareholders of 269% over the past three years. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to kr3.15, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 11x in the Energy Services industry in Norway. Total returns to shareholders of 226% over the past three years. Reported Earnings • May 28
First quarter 2023 earnings released First quarter 2023 results: Revenue: US$5.02m (down 19% from 1Q 2022). Net income: US$451.0k (down 73% from 1Q 2022). Profit margin: 9.0% (down from 26% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has increased by 73% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 21
Full year 2022 earnings released: EPS: US$0.085 (vs US$0.038 in FY 2021) Full year 2022 results: EPS: US$0.085 (up from US$0.038 in FY 2021). Revenue: US$35.0m (up 21% from FY 2021). Net income: US$11.2m (up 127% from FY 2021). Profit margin: 32% (up from 17% in FY 2021). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 73% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Apr 11
Now 21% undervalued Over the last 90 days, the stock is up 108%. The fair value is estimated to be kr4.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 47% over the last 3 years. Earnings per share has grown by 16%. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to kr3.29, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 14x in the Energy Services industry in Norway. Total returns to shareholders of 447% over the past three years. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to kr3.40, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 13x in the Energy Services industry in Norway. Total returns to shareholders of 317% over the past three years. Buying Opportunity • Mar 10
Now 22% undervalued Over the last 90 days, the stock is up 95%. The fair value is estimated to be kr4.29, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 47% over the last 3 years. Earnings per share has grown by 16%. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to kr3.16, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 11x in the Energy Services industry in Norway. Total returns to shareholders of 143% over the past three years. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to kr3.45, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 8x in the Energy Services industry in Norway. Total returns to shareholders of 67% over the past three years. Buying Opportunity • Feb 09
Now 24% undervalued Over the last 90 days, the stock is up 77%. The fair value is estimated to be kr4.12, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 47% over the last 3 years. Earnings per share has grown by 16%. Reported Earnings • Feb 07
Full year 2022 earnings released: EPS: US$0.085 (vs US$0.038 in FY 2021) Full year 2022 results: EPS: US$0.085 (up from US$0.038 in FY 2021). Revenue: US$35.0m (up 21% from FY 2021). Net income: US$11.2m (up 127% from FY 2021). Profit margin: 32% (up from 17% in FY 2021). Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 13% per year. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment improved over the past week After last week's 17% share price gain to kr1.99, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 9x in the Energy Services industry in Norway. Total returns to shareholders of 4.7% over the past three years. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. Independent Director Mimi Berdal was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: US$0.006 (vs US$0.036 in 3Q 2021) Third quarter 2022 results: EPS: US$0.006 (down from US$0.036 in 3Q 2021). Revenue: US$6.63m (down 48% from 3Q 2021). Net income: US$772.0k (down 83% from 3Q 2021). Profit margin: 12% (down from 37% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 18% share price decline to kr1.70, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 10x in the Energy Services industry in Norway. Total loss to shareholders of 21% over the past three years. Reported Earnings • Aug 19
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: US$6.92m (down 27% from 2Q 2021). Net income: US$1.85m (down 30% from 2Q 2021). Profit margin: 27% (down from 28% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.