2025 first-quarter results

Core Insights - The company achieved significant milestones in Q1 2025, including the termination of a vessel capacity agreement and successful bond refinancing, enhancing operational flexibility and cash generation [3][4][5] - Financial results for Q1 2025 showed a revenue increase of 10% to $301 million and a 35$143 million, indicating robust business performance [2][5][9] - The company anticipates generating approximately $100 million in net cash flow for the year, assuming moderate fluctuations in the oil market [4][10] Financial Performance - Q1 2025 revenue reached$301 million, a 10% increase from the previous year, driven by growth in Geoscience and Earth Data segments [2][9] - Adjusted EBITDA for Q1 2025 was $143 million, reflecting a 35$(20) million, compared to $30 million in the same period last year, impacted by a$42 million interest payment [2][5][12] Segment Performance - Digital, Data, and Energy Transition (DDE) segment revenue increased by 16% to $214 million, with Geoscience growing by 25$87 million, with adjusted EBITDA rising by 37% due to cost reductions [5][9] - The company reported a backlog in Geoscience of $329 million, a 45$447 million and €578 million notes, replacing them with $450 million and €475 million senior secured notes due in October 2030 [5][10] - Net debt stood at$974 million, with liquidity at $257 million, reflecting a focus on cash flow generation and deleveraging [5][11] Future Outlook - The company expects continued growth in Geoscience supported by advanced technology and a strong backlog, alongside improved cash EBITDA in Earth Data following the end of vessel commitment penalty fees [10] - The restructuring plan in Sensing & Monitoring is anticipated to yield further savings, contributing positively to overall profitability [10]