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].

Core Viewpoint - Dawson Geophysical Company reported a significant increase in demand for high-resolution seismic surveys, leading to a capital investment in new equipment to enhance operational efficiency and competitiveness in the market [2][3][7]. Financial Performance - For Q2 2025, the company reported fee revenues of $8.7 million, a 5% increase from $8.3 million in Q2 2024. Total revenue for the quarter was $9.9 million, down from $12.5 million in the same quarter last year [3][13]. - Gross margin improved to 13% in Q2 2025 from 1% in Q2 2024, attributed to enhanced operational efficiencies [3]. - The company incurred a net loss of $2.3 million or $0.08 per share in Q2 2025, compared to a net loss of $3.5 million or $0.12 per share in Q2 2024 [4][13]. - Year-to-date, the company reported a net loss of $1.4 million or $0.04 per share, a decline from a net income of $2.3 million or $0.07 per share in the same period of 2024 [5][13]. Operational Update - A large channel crew was deployed in April 2025, expected to maintain high utilization through the end of the year. The company is also improving its backlog with multiple jobs contracted for quick deployment of new equipment [3][5]. - The company anticipates that the new equipment will enhance both top-line and bottom-line results as it is deployed [3]. Capital Investment - On August 8, 2025, the company entered into an Equipment Purchase Agreement to acquire single point node channels for approximately $24.2 million, with deliveries scheduled from August 2025 to January 2026 [6][7]. - The payment structure includes an initial cash payment of $4.8 million, followed by additional payments upon delivery, with the remainder financed through promissory notes at an interest rate of 8.75% [7]. Liquidity Position - As of June 30, 2025, the company increased its cash position to $16.2 million and improved its working capital to $4.9 million, compared to $1.4 million and $4.6 million at the end of 2024 [8][16].