CALGARY, Alberta, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) (“Pulse” or the “Company”) is pleased to report its financial and operating results for the year ended December 31, 2025. The audited consolidated financial statements, accompanying notes and MD&A are being filed on SEDAR+ (www.sedarplus.ca) and will be available on Pulse’s website at www.pulseseismic.com. Pulse’s Board of Directors today approved a quarterly dividend of $0.0175 per share and additionally declared ...

Core Viewpoint - Pulse Seismic Inc. reported strong financial results for the third quarter and the first nine months of 2025, highlighting significant revenue growth and shareholder returns through dividends [1][9]. Financial Performance - Total revenue for Q3 2025 was $3.4 million, up from $2.7 million in Q3 2024, marking a year-over-year increase of approximately 25.9% [4][5]. - For the nine months ended September 30, 2025, total revenue reached $44.5 million, compared to $17.8 million for the same period in 2024, reflecting an increase of 150.6% [4][5]. - Shareholder free cash flow for Q3 2025 was $571,000 ($0.01 per share), down from $1.1 million ($0.02 per share) in Q3 2024 [4][5]. - Year-to-date shareholder free cash flow was $27.7 million ($0.55 per share) for the nine months ended September 30, 2025, an increase from $10.0 million ($0.19 per share) in 2024 [4][5]. - EBITDA for Q3 2025 was $744,000 ($0.01 per share), down from $1.1 million ($0.02 per share) in Q3 2024 [4][5]. - Year-to-date EBITDA was $36.0 million ($0.71 per share) for the nine months ended September 30, 2025, compared to $11.7 million ($0.23 per share) in 2024, indicating a significant increase [4][5]. Dividends and Shareholder Returns - The Board of Directors declared a regular quarterly dividend of $0.0175 per common share, totaling approximately $888,000, to be paid on November 20, 2025 [2]. - In Q3 2025, the company also declared a special dividend of $0.20 per common share, totaling $11.0 million [4][5]. - For the nine months ended September 30, 2025, total dividends declared amounted to $22.9 million, including regular and special dividends [4][5]. Capital Management - The company renewed its Normal Course Issuer Bid (NCIB) on February 24, 2025, purchasing and canceling 80,600 shares at an average price of $2.43 per share, costing approximately $197,000 [4][5]. - As of September 30, 2025, the company had a cash balance of $16.1 million and $5.0 million of available liquidity on its revolving demand credit facility [4][5]. Industry Outlook - The seismic data library business is characterized by significant volatility in annual sales levels, influenced by factors such as land sales, drilling forecasts, and commodity prices [10][11]. - Alberta land sales were approximately $197.2 million in Q3 2025, representing just over 65% of the amount for the same period in 2024 [11]. - The commodity price environment has weakened, leading producers to lower capital expenditure guidance [12]. - M&A activity has increased, providing opportunities for producers to consolidate assets and reduce costs [13]. - New infrastructure developments, such as the TMX pipeline expansion, are expected to enhance drilling activity and export capacity [14].

Core Insights - Pulse Seismic Inc. reported strong financial results for the first half of 2025, with significant increases in revenue and shareholder free cash flow, driven by traditional data sales and energy sector M&A activity [3][11]. Financial Performance - Total revenue for Q2 2025 was $18.3 million, a substantial increase from $6.3 million in Q2 2024. For the first half of 2025, revenue reached $41.1 million, compared to $15.1 million in the same period of 2024, reflecting a 171% increase year-over-year [6][7]. - EBITDA for Q2 2025 was $15.2 million, up from $4.4 million in Q2 2024. For the first half of 2025, EBITDA totaled $35.3 million, compared to $10.6 million in the same period of 2024 [6][7]. - Net earnings for Q2 2025 were $9.6 million ($0.19 per share), compared to $1.3 million ($0.03 per share) in Q2 2024. For the first half of 2025, net earnings were $22.9 million ($0.45 per share), compared to $4.0 million ($0.08 per share) in the same period of 2024 [6][7]. Shareholder Returns - The Board of Directors declared a regular quarterly dividend of $0.0175 per share and a special dividend of $0.20 per share, totaling approximately $11.0 million based on shares outstanding [2][3]. - The company distributed 84% of its free cash flow in 2025 as dividends, with special dividends totaling $0.80 declared over the last 24 months [3][6]. Capital Management - The company had a cash balance of $25.9 million and $5.0 million in available liquidity as of June 30, 2025 [6][8]. - Working capital increased to $24.2 million, with a working capital ratio of 4.8:1, indicating strong liquidity [8]. Market Position - Pulse Seismic holds the largest licensable seismic data library in Canada, covering approximately 65,310 square kilometers of 3D seismic and 829,207 kilometers of 2D seismic [16]. - The company benefits from a strong position in the energy sector, particularly in Western Canada, where it provides essential subsurface information for exploration and production companies [3][16]. Industry Outlook - The company anticipates continued strong M&A activity in the energy sector, with drilling forecasts indicating a potential increase in wells drilled in 2025 [12][11]. - However, the company acknowledges challenges in forecasting future revenue due to the inherent volatility in the seismic data library business and external market conditions [12][14].

Core Viewpoint - Pulse Seismic Inc. reported strong financial results for the first half of 2025, with significant revenue growth and a focus on returning capital to shareholders through dividends [3][11]. Financial Performance - Total revenue for Q2 2025 was $18.3 million, a substantial increase from $6.3 million in Q2 2024. For the first half of 2025, revenue reached $41.1 million, compared to $15.1 million in the same period of 2024, reflecting a 171% increase year-over-year [6][7]. - EBITDA for Q2 2025 was $15.2 million, up from $4.4 million in Q2 2024. For the first half of 2025, EBITDA totaled $35.3 million, compared to $10.6 million in the same period of 2024 [6][7]. - Net earnings for Q2 2025 were $9.6 million ($0.19 per share), compared to $1.3 million ($0.03 per share) in Q2 2024. For the first half of 2025, net earnings were $22.9 million ($0.45 per share), compared to $4.0 million ($0.08 per share) in the same period of 2024 [6][7]. Shareholder Returns - The Board declared a regular quarterly dividend of $0.0175 per share and a special dividend of $0.20 per share, totaling approximately $11.0 million based on shares outstanding [2][3]. - The company distributed 84% of its free cash flow in 2025 as dividends, with special dividends totaling $0.80 declared over the last 24 months [3][6]. Operational Highlights - The company has a cash balance of $25.9 million and $5.0 million in available liquidity as of June 30, 2025 [6][11]. - The seismic data library consists of approximately 65,310 square kilometers of 3D seismic and 829,207 kilometers of 2D seismic, covering the Western Canada Sedimentary Basin [16]. Market Outlook - The company anticipates continued strong M&A activity in the energy sector, despite challenges in forecasting future revenue due to market fluctuations [12][15]. - Industry trends such as land sales, drilling forecasts, and commodity prices are expected to influence future performance [12][14].