Record revenue and strong growth across all markets

2024 was a landmark year for us. With revenue of NOK 200 million, we delivered the strongest financial results in the company's history, representing growth of almost 70 per cent on the previous year. The growth comes from all the markets we operate in: Norway, the United Kingdom, Ireland, Spain and the United States.

– We operate in a market with enormous potential, and we are still only at the beginning. Virtual fencing has long since established itself in Norwegian farming. Farmers find that the technology makes a real difference in their everyday lives. By no longer having to put up and maintain physical fences, large grazing areas can be managed in an entirely different way. At the same time, animals gain much greater freedom to move in the landscape. Operations become simpler, more efficient and therefore more profitable. This is universal across the whole world market, says CEO Joachim Kähler.

Technology reaching new applications

Growth is not only about more farmers, the technology is also being adopted in new contexts. In Sunnmøre, collar-equipped goats are helping to keep vegetation down at a ski resort. In Færder National Park on Tjøme, goats fitted with Nofence collars are doing the same work, keeping the natural area accessible for both visitors and local residents. These are examples of virtual fencing solving challenges well beyond traditional farming.

Investing for the future

Whilst revenue is at a record high, the accounts show a negative result of NOK 26 million in 2024. This is nonetheless a significant improvement from NOK 69 million in the red the previous year, and reflects a deliberate strategic choice to invest heavily in product development, new markets and key appointments within technology, product and management.

– Our goal is to help farmers around the world manage their livestock more efficiently and sustainably. We are building brick by brick, and we can see the outlines of something truly significant, says Kähler.

He points to the timing being right for an offensive approach.

– Getting animals out to pasture and being able to manage them effectively is essential for restoring soil fertility at scale. It is also essential for future food security. This is an area where we want to be a significant contributor.

Further growth in headcount is now being planned to meet demand.

– The reason for our growth is first and foremost that we have a solid product that is straightforward to use and makes an immediate difference for farmers working with grazing livestock. It also comes down in large part to the people behind the technology. Our team consists of professionals driven by a desire to create sustainable solutions and make a difference. That gives us both great drive and a competitive advantage, says Kähler.