2025 third-quarter results Strong performance driving Net Cash Flow generation

Rhea-AI Summary

Viridien (NYSE:CGG) reported strong Q3 2025 results. Segment revenue reached $313m (+27% YoY) and segment adjusted EBITDAs hit $167m (+70% YoY), supporting a quarter Net Cash Flow of $53m and $62m year-to-date at Sept. 30, 2025. IFRS net income was $41m vs -$10m a year earlier. The group executed partial bond redemptions in early October (USD $25m, EUR €20m ~ $23m) and obtained two €5m Bpifrance loans in July 2025, actions expected to save about $4.5m annually in interest. Full-year 2025 Net Cash Flow target of $100m is reiterated.

Positive

• Segment revenue $313m in Q3 2025, +27% YoY
• Segment adjusted EBITDAs $167m in Q3 2025, +70% YoY
• Q3 Net Cash Flow $53m; 9M Net Cash Flow $62m (+83% YoY)
• IFRS Net Income $41m in Q3 2025 vs -$10m in Q3 2024
• Partial bond redemptions ($25m USD, €20m EUR) to save ~$4.5m annually

Negative

• Consolidated 9M 2025 IFRS revenue down 3% to $758m
• Change in working capital -$36m in Q3 2025 weighed on cash
• Cash reduced to $227m at Sept. 30, 2025, -25% year‑on‑year
• Net cost of financial debt -$27m in Q3 2025

Insights

Corporate finance analyst

Strong operational margin expansion and materially higher cash generation; active liability management supports deleveraging goal.

Q3 performance shows clear operational leverage: Segment revenue reached $313m and segment adjusted EBITDAs were $167m, a +70% year‑on‑year rise that pushed the segment margin to 53% from 40%. Consolidated IFRS revenue rose to $266m and IFRS EBITDAs to $120m, while consolidated net income turned positive to $41m.

Cash dynamics and balance sheet actions materially matter. Q3 Net Cash Flow was $53m, with $62m year‑to‑date toward a reiterated full‑year target of $100m. The group executed partial bond redemptions of $25m (USD) and $23m (EUR) and obtained two unsecured loans of €5m each; these actions are quantified to save about $4.5m per year in interest. Available liquidity includes a $125m undrawn RCF and total liquidity of $327m as of Sept. 30, 2025.

Dependencies, risks and watchpoints are explicit and measurable. Working capital remains a drag, with a -$36m change in Q3 and ongoing collections efforts noted for a major receivable from PEMEX. Cash capex fell to -$54m in Q3, supporting free cash, but gross debt remains significant at $1,204m with net debt at $977m

Near‑term items to monitor: receipt timing of overdue receivables, further bond buybacks or refinancing, and delivery against the $100m Net Cash Flow target by year end (2025). These are concrete, reportable milestones that will confirm whether the margin and cash improvements sustainably translate into deleveraging.

Paris (France), October 30, 2025

2025 third-quarter results
Strong performance driving Net Cash Flow generation

• Segment revenue of $313m in Q3 2025, up +27% year-on-year, with all business lines contributing positively
  
  
• Segment adjusted EBITDAs of $167m in Q3 2025, up a massive +70% year-on-year, representing a 53% margin (vs 40% in Q3 2024), supported by strong Earth Data contribution and solid Geoscience profitability
  
  
• Net Cash Flow generation of $53m in the quarter, $62m year-to-date at end-September
  
  
• Active liability management with partial bond redemptions in early October ($25m on the USD tranche,$23m on the EUR one)
  
  
• Full-year 2025 Net Cash Flow target of $100m reiterated
  
  

Sophie Zurquiyah, Chair and CEO of Viridien: “Viridien delivered a strong third quarter, contributing to solid Net Cash Flow generation. Our main focus on major offshore projects and close collaboration with leading energy companies continue to drive our performance. More than ever, Viridien offers unique, high-value solutions for exploration and production, making us a strategic partner, less affected by market fluctuations. With a Net Cash Flow of $62 million at the end of September, we are confidently progressing toward our full-year target of $100 million and have initiated approximately $50 million in bond buybacks.”

(in millions of $)1	Q3 2025	Q3 2024	Change (%)	9M 2025	9M 2024	Change (%)
Segment figures
Revenue	313	246	+27%	888	778	+14%
Adjusted EBITDAs	167	98	+70%	417	298	+40%
IFRS figures
Revenue	266	219	+22%	758	785	-3%
EBITDAs	120	71	+70%	287	301	-5%
Operating Income	77	23	+236%	149	95	+57%
Net Income	41	-10	n.a.	19	22	-10%
Net Cash Flow	53	10	+426%	62	34	+83%
Net Debt (incl. IFRS16)	977	1 003	-3%	977	1 003	-3%

KEY HIGHLIGHTS PER BUSINESS LINE²

Data, Digital and Energy Transition (DDE)

Segment revenue at $244 m in Q3 2025, up +31% year-on-year, with strong Earth Data late sales.

Geoscience (GEO)

• Revenue at $108 m (+5%)
• Activity remains strong, fueled by large OBN projects offshore Brazil and in the US Gulf, with additional support from the Middle East

Earth Data (EDA)

• Revenue at $136 m (+63%), fueled by market appetite for high-end data and recent M&A transactions
• Good progress on the Megabar Extension Phase 1 project in Brazil. Overall EDA capex reduced thanks to a higher share of projects developed in partnership

Segment adjusted EBITDAs at $167 m, up +70% year-on-year, with a margin lifted to 70% vs 58% in Q3 2024 given the massive flow through of EDA’s late sales. EDA Cash EBITDA at $73 m vs -$13 m in Q3 2024.

Sensing and Monitoring (SMO)

Segment revenue at $69 m in Q3 2025, +16% increase year-on-year. Activity remains largely driven by the Land segment, with a mix of flagship high-productivity surveys ongoing in North America and medium-to-small crews ensuring business resilience across South America, the Middle East, and Asia.

Segment adjusted EBITDAs at $4 m, compared to $1 m in Q3 2024. Profitability benefited from the higher level of activity and a more streamlined cost structure resulting from the restructuring plan. Note that adverse foreign exchange effects from the depreciation of the U.S. dollar negatively impacted performance by approximately $3 million, as SMO bears most of its cost base in euros.

Segment adjusted operating income at -$2 m vs -$7m in Q3 2024. At constant exchange rates versus last year, operating income would have reached $1m, consistent with the objective of the past 24-month restructuring plan to reduce SMO’s break-even point to a run-rate of around $270m in annual revenue.

CONSOLIDATED IFRS FIGURES³

Profit & Loss

Consolidated IFRS revenue for Q3 2025 came in at $266m, up +22% year-on-year. EBITDAs stood at $120m, up +70%.

IFRS Net Income reached $41m, vs -$10m in Q3 2024, after accounting notably for -$43 m of leases and D&A,
-$27m net cost of financial debt, and -$9m of income taxes.

(in millions of $)	Q3 2025	Q3 2024	Change (%)	9M 2025	9M 2024	Change (%)
€/$ exchange rate	1.16	1.09	+7%	1.11	1.09	+2%
Revenue	266	219	+22%	758	785	-3%
EBITDAs	120	71	+70%	287	301	-5%
Operating income	77	23	+236%	149	95	+57%
Equity from investment	0	1	n.s.	-1	1	n.a.
Net cost of financial debt	-27	-24	+12%	-79	-74	+8%
Other financial income (loss)	-1	0	n.a.	-35	-1	n.s.
Income taxes	-9	-9	+4%	-16	-14	+15%
Net Income (loss) from continuing operations	41	-9	n.a.	17	7	+145%
Net Income (loss) from discontinued operations	1	-1	n.a.	3	15	-83%
Consolidated Net Income (loss)	41	-10	n.a.	19	22	-10%

Cash Flow and Net debt

Net Cash Flow of $53m generated in Q3 2025, bringing the cumulative figure at end-September to $62m. Performance was driven by Segment EBITDAs and disciplined capex, while the change in working capital continues to weigh on cash generation. The Group continues, in particular, to work actively on collecting overdue receivables from the Mexican National Oil Company, PEMEX.

(in millions of $)	Q3 2025	Q3 2024	Change (%)	9M 2025	9M 2024	Change (%)
Segment EBITDAs	167	98	+70%	417	294	+42%
Income tax paid	-6	2	n.a.	-14	-10	+39%
Change in working capital & provisions	-36	22	n.a.	-82	18	n.a.
Other cash items	0	0	n.a.	-1	0	n.a.
Cash from Operating Activity	125	122	+3%	320	302	+6%
Total capex	-54	-90	-40%	-173	-205	-16%
Acquisitions and proceeds of assets	1	0	n.s.	2	1	+206%
Cash from Investing Activity	-53	-90	-41%	-171	-204	-16%
Paid cost of debt	-1	1	n.a.	-41	-42	-2%
Lease repayment	-18	-16	+12%	-44	-43	+2%
Other financing activities	0	0	n.s.	-1	-1	+13%
Cash from Financing Activity	-19	-15	+28%	-86	-86	+0%
Discontinued operations acquisitions	-1	-7	-93%	-1	22	n.a.
Net Cash Flow	53	10	+426%	62	34	+83%
Refinancing costs paid (fees + call premium)	0	0	n.a.	-42	0	n.a.
Repayment and issuance of debt	9	-12	n.a.	-104	-12	x9
Forex and other	3	3	+3%	8	-8	n.a.
Net increase (decrease) in Cash	65	2	x36	-75	15	n.a.

Viridien continues to actively manage its liabilities in line with its commitments to deleverage the Group and optimize financing costs. In this context:

• In July 2025, the Group obtained two unsecured loans of €5m each from Bpifrance, the French public investment bank. These loans have a 4-year maturity and carry attractive annual interest rates of around 4.6%, roughly half the cost of existing debt;
• In early October 2025, the Group executed a partial bond redemption at 103, as provided for under the bond documentation, using available cash to repurchase $25m of its USD-denominated tranche and €20m ($23m) of its EUR-denominated one. This transaction will generate annual interest savings of approximately $4.5m going forward.

Both initiatives will further enhance the Group’s future Net Cash Flow and support its ongoing deleveraging trajectory. As of end-September 2025, Viridien maintained a strong liquidity position, including a $125m RCF⁴.

(in millions of $)	Sept. 30, 2025	Dec. 31, 2024	Change (%)	Sept. 30, 2024	Change (%)
Liquidity	327	392	-17%	442	-26%
Cash	227	302	-25%	342	-34%
Undrawn RCF	100	90	+11%	100	0%
Gross Debt	1,204	1,223	-2%	1,345	-10%
Bonds	9885	1,049	-6%	1,143	-14%
Other borrowings	42	31	+35%	31	+34%
Accrued interests	48	18	+160%	43	+11%
Lease liabilities	126	125	+1%	127	-1%
Net Debt	977	921	+6%	1,003	-3%

OUTLOOK

Oil prices remain volatile, and short-term fluctuations could prompt some arbitrage or rescheduling of E&P investments should prices temporarily soften. However, exploration and seismic activities are expected to remain resilient, with potential spending cuts more likely to affect other parts of the value chain.

Exploration and seismic are supported by structurally positive fundamentals, as E&P operators increasingly recognize the risks to production sustainability in a context of accelerating field depletion and the need to secure long-term resource supply.

Building on its strong value proposition, extensive high-quality data library, solid track record, and robust backlog, Viridien looks ahead with confidence in its ability to sustain strong cash generation and advance its deleveraging objectives, starting with the delivery of its $100 million Net Cash Flow target in 2025.

***

Q3 2025 conference call details

The press release and presentation will be made available on www.viridiengroup.com at 5:45 p.m. (CET).

An English-language conference call is scheduled today at 6:00 p.m. (CET).

Participants must register for the conference call by clicking here to receive a dial-in number and PIN code. Participants may also join the live webcast by clicking here.

A replay of the conference call will also be available, for a period of 12 months, on the Company's website www.viridiengroup.com.

Status of the statutory auditors’ procedures

The Board of Directors met on October 30, 2025, and closed the consolidated financial statements as of September 30, 2025. Please note that the figures and information published in this press release have not been audited nor subject to any limited review by Viridien’s statutory auditors.

Next financial information

2025 full-year results: February 26, 2026 (after market close)

About Viridien

Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resources, digital, energy transition and infrastructure challenges. Viridien employs around 3,200 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).

Disclaimer

Certain information included in this press release is not historical data but forward-looking statements. These forward-looking statements are based on current beliefs and assumptions, including, but not limited to, assumptions about current and future business strategies and the environment in which Viridien operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results or performance, or the results or other events, to be materially different from those expressed or implied in such forward-looking statements. These risks and uncertainties include those discussed or identified in Chapter 2 "Risk Management and Internal Control" of the Universal Registration Document dated March 6, 2025, filed with the French Financial Markets Authority (AMF) under number D. 25-0075 and available on the Group's website (www.viridiengroup.com) and on the AMF website (www.amffrance.org). These forward-looking statements and information are not guarantees of future performance. Forward-looking statements speak only as of the date of this press release. This press release does not contain or constitute an offer of securities or an invitation or inducement to invest in securities in France, the United States, or any other area.

Investors contact

VP Investor Relations and Corporate Finance
Alexandre Leroy
alexandre.leroy@viridiengroup.com
+33 6 85 18 44 31

APPENDICES

Quarterly financial statements are unaudited and not subject to any review.

Key Segment P&L figures

(in millions of $)	Q3 2025	Q3 2024	Change (%)	9M 2025	9M 2024	Change (%)
€/$ exchange rate	1.16	1.09	+7%	1.11	1.09	+2%
Segment Revenue	313	246	+27%	888	778	+14%
DDE	244	187	+31%	639	548	+17%
Geoscience	108	103	+5%	334	296	+13%
Earth Data	136	83	+63%	306	252	+21%
SMO	69	59	+16%	249	230	+8%
Land	31	28	+9%	139	102	+36%
Marine	21	13	+65%	67	88	-24%
Other	17	18	-6%	43	40	+8%
Segment EBITDAs	167	98	+70%	417	294	+42%
Adjusted Segment EBITDAs	167	98	+70%	417	298	+40%
DDE	170	108	+58%	408	307	+33%
SMO	4	1	+466%	30	17	+78%
Corporate and other	-7	-10	-29%	-22	-26	-16%
Segment Operating Income	93	27	+246%	179	80	+124%
Adjusted Segment Operating Income	93	27	+245%	179	84	+113%
DDE	103	44	+137%	190	117	+62%
SMO	-2	-7	-70%	13	-7	n.a.
Corporate and other	-8	-10	-13%	-24	-27	-10%
EDA Cash EBITDA	73	-13	n.a.	112	31	+260%

Other KPIs

(in millions of $)	Q3 2025	Q3 2024	Change (%)	9M 2025	9M 2024	Change (%)
Geoscience backlog	290	245	+19%	290	245	+19%
Total capex	54	90	-40%	173	205	-16%
Earth Data library net book value	534	499	+7%	534	499	+7%

Definition of Alternative Performance Indicators (API)

In its communications, Viridien includes Alternative Performance Indicators, the main ones being Segment Revenue, Segment EBITDAs, Adjusted Segment EBITDAs, and EDA Cash EBITDA. Their definitions are set out in the 2024 Universal Registration Document filed with the French Financial Markets Authority (AMF) and are reiterated below:

• Segment revenue: Segment revenue is prepared in accordance with internal management reporting with Earth Data prefunding revenues recorded based upon percentage of completion.
  
  
• Segment EBITDAs: Segment EBITDAs is defined as earnings before interest, tax, income from equity affiliates, depreciation, amortization net of amortization costs capitalized to Earth Data surveys, and cost of share-based compensation for employees and senior executives. The cost of share-based compensation includes the cost of stock options and allotments of performance shares. Segment EBITDAs is calculated based on internal management reporting, in which prefunding revenue from Earth Data surveys is recognized using the percentage of completion method.
  
  
• Adjusted segment EBITDAs: Adjusted segment EBITDAs is Segment EBITDAs adjusted for non-recurring charges and gains.
  
  
• EDA Cash EBITDA: EDA Cash EBITDA is defined as EDA (Earth Data) adjusted segment EBITDAs less investment in EDA surveys for the period, excluding inactivity compensation fees related to the vessel capacity agreement signed between Viridien and Shearwater. This indicator is used exclusively for the EDA activity.
  
  

Reconciliation of API with the condensed interim consolidated financial statements

The table below outlines the accounting adjustments made in accordance with IFRS 15⁶ requirements. Over the period, these adjustments primarily relate to major survey projects conducted by Earth Data in the US Gulf and Norway.

(in millions of $)	Q3 2025			9M 2025
	Segment	IFRS 15 adjustments	IFRS	Segment	IFRS 15 adjustments	IFRS
Revenue	313	-46	266	888	-130	758
EBITDAs	167	-46	120	417	-130	287
Adjustments	0			0
Adjusted EBITDAs	167	-46	120	417	-130	287

Interim Consolidated Statement of Operations

(in millions of $, except per share data)	9M 2025	9M 2024
Operating revenues	758.1	784.8
Other income from ordinary activities	0.2	0.1
Total income from ordinary activities	758.2	784.9
Cost of operations	(520.8)	(587.1)
Gross profit	237.4	197.8
Research and development expenses - net	(9.1)	(15.2)
Marketing and selling expenses	(25.6)	(28.6)
General and administrative expenses	(54.9)	(55.9)
Other revenues (expenses) - net	0.9	(3.6)
Operating Income (loss)	148.7	94.6
Cost of financial debt - gross	(83.5)	(82.3)
Income from cash and cash equivalents	4.0	8.7
Cost of financial debt - net	(79.5)	(73.6)
Other financial income (loss)	(34.9)	(0.9)
Income (loss) before income taxes and share of income (loss) from companies accounted for under the equity method	34.3	20.1
Income taxes	(16.3)	(14.2)
Income (loss) before share of income (loss) from companies accounted for under the equity method	18.0	6.0
Net income (loss) from companies accounted for under the equity method	(1.1)	0.9
Net income (loss) from continuing operations	16.8	6.9
Net income (loss) from discontinued operations	2.5	14.7
Consolidated net income (loss)	19.3	21.6
Attributable to:
Owners of Viridien SA	18.5	21.2
Non-controlling interests	0.8	0.4
Net income (loss) per share
Basic	2.59	2.97
Diluted	2.57	2.95
Net income (loss) from continuing operations per share
Basic	2.23	0.91
Diluted	2.22	0.91
Net income (loss) from discontinued operations per share
Basic	0.35	2.06
Diluted	0.35	2.05

Interim Consolidated Statement of Financial Position

(in millions of $)	Sept. 30, 2025	Dec. 31, 2024
ASSETS
Cash and cash equivalents	226.6	301.7
Trade accounts and notes receivable, net	328.5	339.9
Inventories and work-in-progress, net	162.1	163.3
Income tax assets	13.9	22.9
Other current assets, net	70.5	74.0
Assets held for sale, net	28.6	24.5
Total current assets	830.1	926.2
Deferred tax assets	39.8	43.6
Other non-current assets, net	8.9	8.9
Investments and other financial assets, net	29.8	25.7
Investments in companies under the equity method	0.0	1.1
Property, plant and equipment, net	218.5	220.6
Intangible assets, net	614.3	535.4
Goodwill, net	1,092.0	1,082.8
Total non-current assets	2,003.4	1,918.1
TOTAL ASSETS	2,833.5	2,844.3
LIABILITIES AND EQUITY
Financial debt – current portion	104.6	56.9
Trade accounts and notes payables	52.7	120.9
Accrued payroll costs	91.6	84.5
Income taxes payable	9.1	20.4
Advance billings to customers	13.5	19.2
Provisions — current portion	14.4	19.7
Other current financial liabilities	0.0	0.5
Other current liabilities	286.4	182.5
Liabilities associated with non-current assets held for sale	1.7	2.4
Total current liabilities	574.0	507.0
Deferred tax liabilities	10.8	18.4
Provisions - non-current portion	34.7	28.8
Financial debt – non-current portion	1,099.3	1,165.6
Other non-current financial liabilities	0.0	0.0
Other non-current liabilities	2.2	1.7
Total non-current liabilities	1,146.9	1,214.5
Common stock: 11,199,944 shares authorized and 7,180,449 shares with a nominal value of €1.00 outstanding at September 30, 2025	8.7	8.7
Additional paid-in capital	118.7	118.7
Retained earnings	1,056.2	1,036.5
Other Reserves	(0.8)	55.2
Treasury shares	(20.1)	(20.1)
Cumulative income and expense recognized directly in equity	(1.7)	(1.1)
Cumulative translation adjustment	(86.4)	(113.3)
Equity attributable to owners of Viridien S.A.	1,074.7	1,084.7
Non-controlling interests	37.9	38.1
Total equity	1,112.7	1,122.8
TOTAL LIABILITIES AND EQUITY	2,833.5	2,844.3

Interim Consolidated Statement of Cash Flows

(in millions of $)		9M 2025	9M 2024
OPERATING ACTIVITIES
Consolidated net income (loss)		19.3	21.6
Less: Net income (loss) from discontinued operations		(2.5)	(14.7)
Net income (loss) from continuing operations		16.8	6.9
Depreciation, amortization and impairment		64.3	71.8
Earth Data surveys impairment and amortization		83.2	144.0
Depreciation and amortization capitalized in Earth Data surveys		(12.1)	(11.6)
Variance on provisions		(5.5)	0.2
Share-based compensation expenses		3.3	2.2
Net (gain) loss on disposal of fixed and financial assets		(1.3)	0.1
Share of (income) loss in companies recognized under equity method		1.1	(0.9)
Other non-cash items		30.3	(2.5)
Net cash-flow including net cost of financial debt and income tax		180.2	210.2
Less: Cost of financial debt		79.5	73.6
Less: Income tax expense (gain)		16.3	14.2
Net cash-flow excluding net cost of financial debt and income tax		276.0	297.9
Income tax paid		(14.0)	(10.0)
Net cash-flow before changes in working capital		261.9	287.9
Changes in working capital		58.1	10.0
- change in trade accounts and notes receivable		122.5	(2.3)
- change in inventories and work-in-progress		16.7	7.0
- change in other current assets		(2.4)	14.9
- change in trade accounts and notes payable		(64.9)	10.6
- change in other current liabilities		(12.8)	(20.2)
- change in current financial items		(0.9)	0.0
Net cash-flow from operating activities		320.1	297.8
INVESTING ACTIVITIES
Total capital expenditures (including variation of fixed assets suppliers, excluding Earth Data surveys)		(26.7)	(24.3)
Investment in Earth Data surveys, net cash		(146.0)	(180.1)
Proceeds from disposals of tangible and intangible assets		1.0	1.1
Proceeds from divestment of activities and sale of financial assets		1.0	0.0
Dividends received from investments in companies under the equity method		0.0	0.5
Variation in loans granted		(0.0)	0.0
Variation in other non-current financial assets		4.1	(2.1)
Net cash-flow from investing activities		(166.6)	(205.0)

FINANCING ACTIVITIES
Repayment of long-term debt		(1,075.8)	(12.2)
Total issuance of long-term debt		955.6	0.1
Call premium		(21.9)	0.0
Refinancing transaction costs paid		(3.7)	0.0
Lease repayments		(44.1)	(43.4)
Interests paid		(41.4)	(42.2)
Dividends paid and share capital reimbursements:
- to owners of Viridien		0.0	0.0
- to non-controlling interests of integrated companies		(1.4)	(3.8)
Net cash-flow from financing activities		(232.8)	(101.6)
Effects of exchange rates on cash		4.4	1.1
Net cash flows incurred by discontinued operations		(0.2)	22.4
Net increase (decrease) in cash and cash equivalents		(75.1)	14.7
Cash and cash equivalents at beginning of year		301.7	327.0
Cash and cash equivalents at end of period		226.6	341.7

---

¹ Quarterly financial statements are unaudited and not subject to any review
² Please refer to the “Definitions of Alternative Performance Indicators” in the appendices for explanations of the terms used in this section
³ The reconciliation of alternative performance indicators to the condensed interim consolidated financial statements is provided in the appendices, along with their definitions
⁴ $125m RCF of which $25m ancillary guarantee facility (used for $15m) and $100m fully undrawn
⁵ Including a $64m negative foreign exchange impact compared to December 31, 2024
⁶ IFRS 15 requires that Earth Data prefunding revenues be recognized only upon delivery of the final processed data, that is, when the performance obligation is fulfilled. As a result, revenue and margin recognition for ongoing surveys is deferred. Viridien’s segment reporting, however, continues to apply the percentage-of-completion method previously used before the adoption of IFRS 15, for recognizing Earth Data prefunding revenues and associated margins

Attachment

• Viridien - Q3 2025 results

FAQ

What were Viridien (CGG) Q3 2025 revenue and adjusted EBITDAs?

Segment revenue was $313m (+27% YoY) and segment adjusted EBITDAs were $167m (+70% YoY) in Q3 2025.

How much Net Cash Flow did CGG generate in Q3 2025 and year‑to‑date?

CGG generated $53m Net Cash Flow in Q3 2025 and $62m at Sept. 30, 2025 year‑to‑date.

Did Viridien (CGG) change its 2025 cash target after Q3 results?

No; the company reiterated its full‑year 2025 Net Cash Flow target of $100m.

What liability management actions did CGG take after Q3 2025?

In early October 2025 CGG repurchased $25m of its USD tranche and €20m (~$23m) of its EUR tranche and secured two €5m Bpifrance loans in July 2025.

How did Q3 2025 results affect CGG profitability metrics?

IFRS net income was $41m in Q3 2025 versus a $10m loss in Q3 2024; segment margin and EBITDAs increased materially.

What cash pressures or risks did CGG report in Q3 2025?

Working capital changes (-$36m in Q3) weighed on cash and reported cash fell to $227m at Sept. 30, 2025; the group is also collecting overdue receivables from PEMEX.