EMGS reports third quarter 2025 results

Core Insights - EMGS reported revenues of USD 0.1 million for Q3 2025, a significant decrease from USD 1.1 million in Q3 2024 [1] - The adjusted EBITDA for the company was negative USD 6.3 million, worsening from negative USD 5.9 million in the same quarter of the previous year [1] Financial Performance - Free cash increased by USD 0.2 million during the quarter, reaching a total of USD 3.7 million [2] - The OSCV Siem Day transaction was terminated post-quarter without any liabilities or payments for either party [2] - The Atlantic Guardian was demobilized and redelivered to its owner after the quarter ended [2] Operational Status - As of the reporting date, EMGS has no vessels under charter or in operation, limiting its ability to generate new acquisition revenues [2] - The company currently has no acquisition backlog and low visibility regarding potential new contracts [2] Future Outlook - EMGS is likely to depend on securing additional financing to continue operations beyond the near term [3] - There are no guarantees regarding the company's ability to secure new financing, which may be highly dilutive to existing shareholders [3] Company Overview - EMGS is a leader in the marine electromagnetic market, utilizing proprietary technology to assist oil and gas companies in offshore hydrocarbon exploration [4] - The company's services enhance exploration efficiency and reduce risks and costs associated with finding hydrocarbons [4] - EMGS is also exploring early-stage initiatives to position itself in the marine mineral deposits market [4]