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  • Nov 20, 2024

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    • 6:57PM ET on Wednesday Nov 20, 2024 by Dow Jones
      Companies Mentioned: AXE

      Revenue of $3.3 million was recorded in the nine months ended September 30, 2024 compared to $0.2 million for the nine months ended September 30, 2023. Revenue for the nine months ended September 30, 2024 included $2.85 million services revenue related to the RF XL Pilot and $0.3 million in services revenue related to the potash drying project. Revenue was recognized for the RF XL Pilot as all milestones were completed under contract for one oil-sands producer and the other oil-sands producer terminated its contract triggering revenue recognition of previously received milestone payments.
    • 6:56PM ET on Wednesday Nov 20, 2024 by Dow Jones
      Companies Mentioned: AXE

      Revenue of $3.3 million was recorded in the nine months ended September 30, 2024 compared to $0.2 million for the nine months ended September 30, 2023. Revenue for the nine months ended September 30, 2024 included $2.85 million services revenue related to the RF XL Pilot and $0.3 million in services revenue related to the potash drying project. Revenue was recognized for the RF XL Pilot as all milestones were completed under contract for one oil-sands producer and the other oil-sands producer terminated its contract triggering revenue recognition of previously received milestone payments.

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