Dawson(US:DWSN) Prnewswireยท2025-11-12 21:05Core 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].