If you look at this page and click on technical explanation
it becomes a bit clearer.
Essentially it is a two stage process as far as I can figure out. Initial cooling of the air take place by standard evaporative cooling inside a membrane honeycomb structure separated into wet side and dry side. Some of the dry side air returns into the wet side and because it is already at a lower temperature it further cools the dry side air.
Hence the amount of air eventually emerging as dry cool air is maybe 50% of the air entering the dry side with that air plus the original "wet air" exhausted out the top.
As with all evaporative coolers though, the diagrams in the brochures start with hot dry air (RH 20%), compared to what you might actually get, which appears to be 60-70% in say New York, Florida etc.
So somewhere like Riyadh ( RH of <20% in the really hot months) it would appear to be good, but lots of other places - e.g. Dubai on the Gulf coast - not so good as RH is generally around 60%. It looks like anything higher than 35C and 30% RH won't get you below 20C outlet air. however each system and location is different and if it just lowers the inlet air into a standard AC machine by 10 to 15C then it might be worth it.
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