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Dawson Geophysical Q4 Earnings Call Highlights
Yahoo Finance· 2026-03-31 15:20
Dawson Geophysical logo Dawson Geophysical (NASDAQ:DWSN) reported higher fourth-quarter revenue and a return to quarterly profitability as increased crew utilization in the U.S. and Canada helped lift margins, while the company continued to invest in new single-node seismic equipment aimed at improving operational efficiency. Fourth-quarter results improve on higher activity For the fourth quarter ended Dec. 31, 2025, Dawson reported fee revenues of $22.9 million, up 67% from $13.8 million in the prior ...
Dawson(DWSN) - 2025 Q4 - Earnings Call Transcript
2026-03-31 15:02
Dawson Geophysical Company (NasdaqGS:DWSN) Q4 2025 Earnings call March 31, 2026 10:00 AM ET Company Participants Ian Shaw - CFO John Daniel - Founder Tony Clark - President and CEO Operator Good day, and welcome to the Dawson Geophysical fourth quarter 2025 earnings conference call. Statements made by management during this call with respect to forecast estimates or other expectations regarding future events, or which provide any information other than historical facts may constitute forward-looking stateme ...
Dawson(DWSN) - 2025 Q4 - Earnings Call Transcript
2026-03-31 15:00
Dawson Geophysical Company (NasdaqGS:DWSN) Q4 2025 Earnings call March 31, 2026 10:00 AM ET Speaker2Good day, and welcome to the Dawson Geophysical fourth quarter 2025 earnings conference call. Statements made by management during this call with respect to forecast estimates or other expectations regarding future events, or which provide any information other than historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forw ...
DAWSON GEOPHYSICAL REPORTS FOURTH QUARTER and YEAR END 2025 RESULTS
Prnewswire· 2026-03-30 23:02
Management Comment Tony Clark, Dawson's President and CEO, commented, "I am proud of the continued progress the Dawson team made during 2025, generating $14.0 million of cash from our operations, and reinvesting a portion of that into new single node channels to strengthen our foundation for profitability in our future. We are continually monitoring our cost structure and reduced our general and administrative expenses by 9% year-over-year. Specifically, we implemented an AI software process in the mapping ...
Dawson(DWSN) - 2025 Q4 - Annual Results
2026-03-30 22:44
Exhibit 99.1 NEWS RELEASE Dawson Geophysical Company 508 W. Wall, Suite 800 Midland, TX 79701 Company contact: Tony Clark, CEO and President Ian Shaw, Chief Financial Officer (800) 332-9766 www.dawson3d.com DAWSON GEOPHYSICAL REPORTS FOURTH QUARTER and YEAR END 2025 RESULTS MIDLAND, Texas, March 30, 2026/PR Newswire/Dawson Geophysical Company (NASDAQ: DWSN) (the "Company") today reported unaudited financial results for its fourth quarter and fiscal year ended December 31, 2025. Fourth quarter 2025 Highlight ...
Dawson Geophysical to Issue Fourth Quarter and Year End 2025 Results and Hold Investor Conference Call
Prnewswire· 2026-03-27 20:00
<!doctype html> <!-- For structured data --> <!-- For language declaration --> Dawson Geophysical to Issue Fourth Quarter and Year End 2025 Results and Hold Investor Conference Call <!-- Additional Authorable Meta tags --> Accessibility StatementSkip NavigationMIDLAND, Texas, March 27, 2026 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ: DWSN) announced today that it plans to publicly release preliminary and unaudited financial results for its year-end 2025 and the quarter ended December 31, 2025, the C ...
Dawson(DWSN) - 2025 Q3 - Quarterly Report
2025-11-13 21:21
Revenue Growth - Acquisition revenues for Q3 2025 increased 217.6% to $14.8 million compared to $4.7 million in Q3 2024, primarily due to increased crew utilization [94] - Canadian acquisition revenues for Q3 2025 rose to $166,000 from $11,000 in Q3 2024, with a 53.9% increase to $13.0 million for the first nine months of 2025 compared to $8.5 million in the same period of 2024 [95] - Total revenues for Q3 2025 were $22.7 million, up from $14.4 million in Q3 2024, despite a $2.0 million decrease in reimbursable revenues [96] Operating Costs and Expenses - Total operating costs for Q3 2025 were $23.9 million, an 18.6% increase from Q3 2024, while operating expenses for the first nine months of 2025 decreased 17.8% to $51.2 million [102] - General and administrative expenses decreased 19.8% to $2.1 million in Q3 2025 compared to $2.6 million in Q3 2024, reflecting cost reduction initiatives [100] Equipment and Capital Expenditures - The company entered into an equipment purchase agreement for new single point node channels for approximately $24.2 million, with $4.8 million paid upon execution and $18.2 million financed through promissory notes [90] - As of September 30, 2025, the company had taken delivery of $10.4 million of equipment and issued two promissory notes totaling approximately $7.5 million [91] - Capital expenditures for the nine months ended September 30, 2025, totaled $12.6 million, primarily for new node channels and maintenance capital requirements [113] Cash Flow and Financing Activities - For the nine months ended September 30, 2025, net cash provided by operating activities was $11.9 million, an increase from $3.6 million for the same period in 2024, primarily due to an increase in deferred revenue [110] - Net cash used in investing activities increased to $5.7 million for the nine months ended September 30, 2025, compared to $0.9 million for the same period in 2024, driven by a rise in capital expenditures to $6.1 million from $1.6 million [111] - Net cash used in financing activities was $2.5 million for the nine months ended September 30, 2025, down from $11.4 million in the same period of 2024, which included $9.9 million in dividends paid [112] Debt and Interest Expenses - Interest expenses for Q3 2025 were $71,000, up from $35,000 in Q3 2024, primarily due to additional debt from capital leases and new equipment notes [103] - The company executed Geospace Notes totaling approximately $7.5 million, with a fixed interest rate of 8.75% and monthly payments of about $239,000 [121] - The company has finance leases totaling $2.5 million as of September 30, 2025, with interest rates ranging from 4.86% to 8.74% [123] Tax and Market Risk - The effective tax rate for Q3 2025 was -0.9%, compared to 0.6% for Q3 2024, influenced by net operating loss carryovers and adjustments to deferred tax assets [104] - No material change in market risk profile during the three months ended September 30, 2025 [131] - Company is exposed to credit risk and interest rate changes due to financial instruments used in business operations [132] - No hedge arrangements or derivative financial instruments have been entered into by the company [132] - Business operations in Canada expose the company to foreign currency exchange rate risk [132] Future Outlook - The company expects to ramp up seasonal operations in Canada and has multiple small channel crew jobs contracted for Q4 2025, anticipating revenue growth quarter-over-quarter [92] - The company believes its capital resources will be adequate to meet current operational needs and fund future capital requirements, depending on future operating performance [126] - The maximum borrowing limit under the Revolving Credit Note is $5,035,032, with a 13% interest rate, payable in 36 monthly installments [117] Dividends - The company declared a special cash dividend of $0.32 per share, totaling approximately $9.9 million, paid on May 6, 2024 [115]
Dawson(DWSN) - 2025 Q3 - Quarterly Results
2025-11-12 21:19
Financial Performance - For Q3 2025, Dawson Geophysical reported fee revenues of $14.9 million, a 220% increase from $4.7 million in Q3 2024[5] - Gross margin for Q3 2025 was 15%, compared to negative 37% in Q3 2024, attributed to increased fee revenue and operational efficiencies[5] - The company incurred a net loss of $1.2 million or $0.04 per share in Q3 2025, an improvement from a net loss of $5.6 million or $0.18 per share in Q3 2024[6] - Year-to-date, the net loss for 2025 was $2.5 million or $0.08 per share, compared to a net loss of $3.3 million or $0.11 per share in 2024[7] - EBITDA for Q3 2025 was $0.2 million, a significant improvement from negative EBITDA of $4.3 million in Q3 2024[6] - EBITDA for the nine months ended September 30, 2025, was $1,397,000, compared to $932,000 for the same period in 2024, indicating a year-over-year increase of 50%[18] - The company reported a comprehensive loss of $(1,224,000) for the three months ended September 30, 2025, compared to a comprehensive loss of $(5,588,000) in the same period of 2024[22] Cash Flow and Assets - The company generated $11.9 million in cash flows from operations year-to-date, increasing cash balance to $5.1 million as of September 30, 2025[9] - Total assets increased to $40,575,000 as of September 30, 2025, up from $30,870,000 on December 31, 2024, representing a growth of 31.5%[16] - Total current liabilities rose to $16,535,000 as of September 30, 2025, compared to $9,930,000 on December 31, 2024, an increase of 66.5%[16] - Net cash used in operating activities for the three months ended September 30, 2025, was $(4,736,000), compared to $(4,231,000) in the same period of 2024[18] - The accumulated deficit increased to $(140,129,000) as of September 30, 2025, from $(137,619,000) at the end of 2024[16] Operational Developments - Dawson Geophysical has over 180,000 channels of legacy and new equipment available, with plans for increased deployment of new single node channels[3] - The Canadian segment acquired several passive monitoring surveys in Q3 2025, with positive customer feedback on new equipment[4] - The company expects revenue to continue increasing quarter-over-quarter due to multiple small channel crew jobs contracted in Q4 2025[8] - Dawson plans to capitalize on the potential of new equipment with the first large channel crew deployment in Q4 2025[5] - Operating revenues for the three months ended September 30, 2025, totaled $22,746,000, a significant increase from $14,421,000 in the same period of 2024, reflecting a growth of 57.5%[20] - Fee revenue for the three months ended September 30, 2025, was $14,942,000, compared to $4,663,000 in the same period of 2024, marking an increase of 220%[22] Expenses - General and administrative expenses for the three months ended September 30, 2025, were $2,110,000, up from $2,630,000 in the same period of 2024[20]
DAWSON GEOPHYSICAL REPORTS THIRD QUARTER 2025 RESULTS
Prnewswire· 2025-11-12 21:05
Core Viewpoint - Dawson Geophysical Company reported significant growth in its third-quarter financial results, driven by the deployment of new single node channels and increased demand for its services, leading to a substantial rise in fee revenues and improved operational efficiencies [4][5][6]. Financial Performance - For the third quarter ended September 30, 2025, the company reported fee revenues of $14.9 million, a 220% increase from $4.7 million in the same quarter of 2024 [4]. - Total revenue for the quarter included reimbursable revenue of $7.8 million, compared to $9.8 million in the prior year [4]. - The gross margin improved to 15% from a negative 37% year-over-year, attributed to increased fee revenue and operational efficiencies [4]. - The net loss for the quarter was $1.2 million, or $0.04 per share, compared to a net loss of $5.6 million, or $0.18 per share, in the same quarter of 2024 [5]. Year-to-Date Results - Year-to-date, the company incurred a net loss of $2.5 million, or $0.08 per share, compared to a net loss of $3.3 million, or $0.11 per share, in 2024 [6]. - EBITDA for the nine months ended September 30, 2025, was $1.4 million, up from $0.9 million in the same period of 2024 [6]. Operations Update - The company has over 180,000 channels of legacy and new equipment available for service, with ongoing efforts in passive seismic monitoring showing positive activity [2][3]. - In the U.S., a large channel crew is scheduled to complete its current job in mid-November and will immediately start another project using the new single node channels [6]. - Seasonal operations in Canada resumed in October, with expectations for a successful winter season [6]. Capital Budget and Liquidity - Year-to-date, the company generated $11.9 million in cash flows from operations, increasing its cash balance to $5.1 million as of September 30, 2025, compared to $1.4 million at the end of 2024 [7]. - In October 2025, the company entered into a revolving credit facility with a maximum commitment of $5 million, which is expected to support its cash flow requirements and debt obligations [7]. Industry Position - Dawson Geophysical Company is recognized as a leading provider of onshore seismic data acquisition services in North America, catering to major oil and gas companies as well as independent operators [8]. - The company is actively involved in Carbon Capture Utilization and Storage (CCUS) seismic monitoring, with plans to acquire more base surveys in the future [9].
Dawson(DWSN) - 2025 Q2 - Quarterly Report
2025-08-13 20:29
[Part I. FINANCIAL INFORMATION](index=3&type=section&id=Part%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Unaudited Q2 2025 financials show increased assets and operating cash flow, with a net loss for the period [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets reached **$45.7 million** by June 30, 2025, driven by cash and contract assets, and liabilities increased Condensed Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | June 30, 2025 | December 31, 2024 | Change | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Cash and cash equivalents | $16,228 | $1,385 | +$14,843 | | Accounts receivable, net | $3,524 | $9,970 | -$6,446 | | Contract assets | $7,454 | $391 | +$7,063 | | Total current assets | $31,428 | $14,541 | +$16,887 | | Property and equipment, net | $11,330 | $12,979 | -$1,649 | | **Total assets** | **$45,684** | **$30,870** | **+$14,814** | | **Liabilities & Equity** | | | | | Deferred revenue | $17,935 | $1,570 | +$16,365 | | Total current liabilities | $26,545 | $9,930 | +$16,615 | | Total liabilities | $29,271 | $13,589 | +$15,682 | | Total stockholders' equity | $16,413 | $17,281 | -$868 | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20(Loss)%20Income) Q2 2025 net loss was **$2.3 million**, an improvement, but YTD net loss was **$1.4 million** from reduced revenues Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | YTD 2025 | YTD 2024 | | :--- | :--- | :--- | :--- | :--- | | Total Operating Revenues | $9,851 | $12,512 | $25,929 | $44,096 | | (Loss) Income from Operations | $(2,371) | $(3,769) | $(1,337) | $2,033 | | Net (Loss) Income | $(2,349) | $(3,546) | $(1,357) | $2,300 | | Basic (Loss) Income per Share | $(0.08) | $(0.12) | $(0.04) | $0.07 | [Condensed Consolidated Statements of Cash Flows](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations significantly increased to **$16.6 million** for H1 2025, primarily due to deferred revenue Cash Flow Summary for the Six Months Ended June 30 (in thousands) | Cash Flow Category | 2025 | 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $16,627 | $7,790 | | Net cash used in investing activities | $(305) | $(1,254) | | Net cash used in financing activities | $(1,497) | $(11,053) | | **Net increase (decrease) in cash** | **$14,843** | **$(4,614)** | | Cash at beginning of period | $1,385 | $15,772 | | **Cash at end of period** | **$16,228** | **$11,158** | [Notes to Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, segment operations, and a **$24.2 million** equipment purchase from GTC - The company operates as a provider of North American onshore seismic data acquisition services for major and independent oil and gas companies[18](index=18&type=chunk) - Revenue is recognized as services are performed, generally based on square miles of data recorded compared to the total anticipated for the contract[31](index=31&type=chunk) - On **August 8, 2025**, the company entered into an agreement to purchase seismic equipment from GTC, Inc. for an aggregate price of approximately **$24.2 million**. The purchase is financed through a combination of cash and **three 36-month promissory notes** at an **8.75% interest rate**[73](index=73&type=chunk)[74](index=74&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses decreased Q2 and H1 2025 revenues, a **$24.2 million** equipment investment, and improved liquidity - The company made a significant capital investment by agreeing to purchase new single point node channels from GTC for approximately **$24.2 million** to meet increased demand for high-resolution surveys[79](index=79&type=chunk)[80](index=80&type=chunk) Revenue by Segment (in thousands) | Segment & Period | Fee Revenue 2025 | Fee Revenue 2024 | % Change | | :--- | :--- | :--- | :--- | | **U.S. Operations** | | | | | Q2 | $8,404 | $8,321 | +1.0% | | YTD | $11,130 | $26,608 | -58.2% | | **Canada Operations** | | | | | Q2 | $331 | $5 | N/A | | YTD | $12,864 | $8,456 | +52.1% | - Net cash from operating activities increased to **$16.6 million** for the first six months of 2025, up from **$7.8 million** in the same period of 2024, mainly due to an increase in deferred revenue[100](index=100&type=chunk) - The company's **$5 million revolving credit facility** with Dominion Bank was terminated on **May 2, 2024**, upon the release of the collateral deposit[48](index=48&type=chunk)[108](index=108&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=28&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) No material change in market risk profile for Q2 2025, with risks from credit, interest rates, and foreign currency - There has been no material change in the company's market risk profile during the **three months ended June 30, 2025**[118](index=118&type=chunk) - Primary market risks arise from credit risk concentration, interest rate changes, and foreign currency exchange risk related to Canadian business[119](index=119&type=chunk) [Controls and Procedures](index=30&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of June 30, 2025, with no material changes - The President and Chief Executive Officer and the Chief Financial Officer concluded that as of **June 30, 2025**, the company's disclosure controls and procedures were effective in all material respects[120](index=120&type=chunk) - No material changes to the company's internal control over financial reporting occurred during the **three and six months ended June 30, 2025**[121](index=121&type=chunk) [Part II. OTHER INFORMATION](index=31&type=section&id=Part%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=31&type=section&id=Item%201.%20Legal%20Proceedings) Management expects no material adverse effect from ongoing legal proceedings on the company's financial condition - The company refers to Note 7 of the financial statements for discussion of legal proceedings, stating that management believes the resolution of pending actions will not have a material adverse effect[55](index=55&type=chunk)[124](index=124&type=chunk) [Risk Factors](index=31&type=section&id=Item%201A.%20Risk%20Factors) No material changes to significant risk factors since the Annual Report on Form 10-K for December 31, 2024 - No material changes in significant risk factors have occurred since the company's Annual Report on Form 10-K for the year ended **December 31, 2024**[125](index=125&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=31&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered sales of equity securities or use of proceeds reported during the period - None[126](index=126&type=chunk) [Exhibits](index=32&type=section&id=Item%206.%20Exhibits) Key exhibits include the Equipment Purchase Agreement with GTC, Inc. and related financing documents - Key exhibits filed include the Equipment Purchase Agreement with GTC, Inc. dated **August 8, 2025**, and related financing documents[130](index=130&type=chunk)