In US most companies are still using the traditional methods including plug and perf (PNP) because it

employs the high pump rates commonly believed to be necessary for the big fracturing jobs.

Pinpoint fracturing on coiled tubing (CT) was introduced in 2006 using high-velocity sand jetting to
perforate casing. Fluid and proppant were then pumped down the annulus between the CT and the
casing to fracture each single “cluster” at a time. This pinpoint method offered more control over
fracture location and placement than PNP.

NCS focuses on pinpoint stimulation mechanism which doesn’t have much acceptance in the US.
High business volume from Canada implying currency risk, regulations etc.

Financial:

Losses in currency exchange

Depreciation not in sync with asset reduction

Breakup of revenue from services

The pricing model- whether its is a bundled product offering with servicing facility or individual
products also on a retail level for B2B.