DAWSON GEOPHYSICAL REPORTS FOURTH QUARTER and YEAR END 2025 RESULTS
Rhea-AI Summary
Dawson Geophysical (NASDAQ: DWSN) reported Q4 2025 and full-year results on March 30, 2026. Q4 fee revenue was $22.9M (up 67% YoY) and Q4 net income was $0.6M ($0.02/share). FY 2025 fee revenue rose 16% to $61.9M; FY revenue was $75.6M. FY net loss narrowed to $1.9M ($0.06/share) from $4.1M. Adjusted EBITDA was $3.3M in Q4 and $4.7M for FY (139% YoY). Operating cash flow was $14.0M and free cash flow $7.2M. Company invested in new single node channels and approved a $3M 2026 capital budget.
Positive
- Fee revenue +16% year-over-year in 2025 to $61.9M
- Operating cash flow of $14.0M in 2025
- Adjusted EBITDA +139% year-over-year to $4.7M
- Q4 fee revenue +67% YoY to $22.9M
- Resumed and expanded Canadian operations entering 2026
Negative
- Net loss of $1.9M for FY 2025
- Cash balance only $4.9M at December 31, 2025
- Reimbursable revenue declined from $20.7M to $13.7M year-over-year
Market Reaction – DWSN
Following this news, DWSN has gained 23.11%, reflecting a significant positive market reaction. Argus tracked a peak move of +16.3% during the session. Our momentum scanner has triggered 18 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $3.25. This price movement has added approximately $19M to the company's valuation. Trading volume is above average at 1.8x the average, suggesting increased trading activity.
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Key Figures
Market Reality Check
Peers on Argus
DWSN fell 18.77% while peers showed mixed moves: some down (e.g., NCSM -13.6%, RCON -11.13%, SND -10.45%) and others up (DTI +3.49%, LSE +2.16%). Only one peer (LSE) appeared in the momentum scanner, moving down, reinforcing a stock-specific reaction.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 12 | Earnings results | Positive | -2.4% | Q3 2025 earnings with strong fee revenue and margin improvement but price fell. |
The last reported earnings event with clear operational improvement was followed by a negative price reaction, similar to the current selloff despite stronger Q4 and full-year 2025 metrics.
This announcement reports Q4 and full-year 2025 results showing higher fee revenue, improved Adjusted EBITDA, and better net loss metrics versus 2024. In the prior key event on Nov 12, 2025, Dawson reported Q3 2025 earnings with fee revenues up sharply year-over-year, gross margin improvement from negative to 15%, and EBITDA turning positive. Despite these improvements, the stock declined 2.43% after that release. Today’s sharper decline of 18.77% continues a pattern where improved fundamentals have not been matched by positive price reaction.
Market Pulse Summary
The stock is surging +23.1% following this news. A strong positive reaction aligns with the clear year-over-year improvements in fee revenue, Adjusted EBITDA, and net loss metrics reported for Q4 and full-year 2025. Historical data show Q3 2025 earnings also featured improving margins and EBITDA but were followed by a modest -2.43% move, so a larger upside response would mark a departure from that pattern. Investors would still need to weigh execution on 2026 utilization and capital plans when assessing durability.
Key Terms
adjusted ebitda financial
free-cash-flow financial
non-gaap financial
gross margin financial
revolving credit facility financial
AI-generated analysis. Not financial advice.
Fourth quarter 2025 Highlights
- Recognized Fee revenue of
$22.9 million 67% increase over the fourth quarter of 2024 - Net income of
$0.6 million $0.02 - Generated Adjusted EBITDA of
$3.3 million 248% compared to fourth quarter of 2024 - Successful initial deployments of new single node channels in the field
Full-Year 2025 Highlights
- Increased Fee revenue
16% year-over-year to$61.9 million - Net loss of
$1.9 million $0.06 $4.1 million $0.13 - Generated operating cash flow of
$14.0 million $7.2 million - Generated Adjusted EBITDA of
$4.7 million 139% increase year-over-year - Significant purchase of new single node channels to invest in future profitability
Adjusted EBITDA and Free-cash-flow are non-GAAP measures. See "Supplemental Non-GAAP Financial and Other Measures" below for our definitions and reconciliations of Adjusted EBITDA and Free-cash-flow.
Management Comment
Tony Clark, Dawson's President and CEO, commented, "I am proud of the continued progress the Dawson team made during 2025, generating
We believe that we have a significant competitive advantage for larger seismic jobs due to our high channel count and our quantity of vibrator energy source units and have observed significant demand for our new equipment from our customers. We have expanded our customer base to include more unconventional exploration such as carbon capture, geothermal, and critical rare-earth minerals as well as other usages of seismic acquisition capabilities.
We believe that the Dawson team has shown continuous improvement over the past two years, which is evidenced by the continued improvement in our profitability metrics. We expect that improvement to continue into 2026."
Fourth Quarter and Year-End Results
For the fourth quarter ended December 31, 2025, the Company reported revenues of
We generated net income of
For the year ended December 31, 2025, the Company reported revenues of
For the year ended December 31, 2025, we generated a net loss of
Operations Update
The Company had one large channel crew and three smaller channel crews operating in the fourth quarter in
Capital Budget and Liquidity
In 2025, we generated
The Company's Board of Directors approved a capital budget of
About Dawson
Dawson Geophysical Company is a leading provider of North American onshore seismic data acquisition services with operations throughout the continental
Non-GAAP Financial Measures
In an effort to provide investors with additional information regarding the Company's preliminary and unaudited results as determined by generally accepted accounting principles ("GAAP"), the Company has included in this press release information about the Company's Adjusted EBITDA and Free-cash-flow, non-GAAP financial measures as defined by Regulation G promulgated by the
- the financial performance of its assets without regard to financing methods, capital structures, taxes or historical cost basis;
- its operating performance over time in relation to other companies that own similar assets and that the Company believes calculate Adjusted EBITDA in a similar manner; and
- the ability of the Company's assets to generate cash sufficient for the Company to pay potential interest costs.
The Company also understands that such data are used by investors to assess the Company's performance. However, the terms Adjusted EBITDA and Free-cash-flow are not defined under GAAP, and Adjusted EBITDA is not a measure of operating income or operating performance presented in accordance with GAAP. When assessing the Company's operating performance, investors and others should not consider this data in isolation or as a substitute for net income (loss), cash flow from operating activities or other cash flow data calculated in accordance with GAAP. In addition, the Company's Adjusted EBITDA or Free-cash-flow may not be comparable to Adjusted EBITDA or Free-cash-flow or similarly titled measures utilized by other companies since other companies may not calculate Adjusted EBITDA or Free-cash-flow in the same manner as the Company. Further, the results presented by Adjusted EBITDA or Free-cash-flow cannot be achieved without incurring the costs that the measure excludes: interest, taxes, and depreciation and amortization. A reconciliation of the Company's Adjusted EBITDA to its net loss is presented in the table following the text of this press release.
Discussions with Controlling Stockholder
As of December 31, 2025, Wilks Brothers, LLC ("Wilks") and its affiliates control approximately
There is no guarantee that we will enter into a definitive agreement with any such parties regarding any such transaction. The terms of any potential agreement between us and Wilks, and/or any of its affiliates, would be contingent on certain conditions, including completion of due diligence and the negotiation of definitive transaction documents. Our Board of Directors has formed a special committee of independent directors (the "Special Committee"), which has retained independent legal and financial advisors, to evaluate, negotiate and make recommendations to the Board regarding any such transaction with Wilks and/or its affiliates, including whether to pursue or decline to pursue any proposed transaction.
Forward-Looking Statements
In accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, the Company cautions that all statements other than statements of historical fact contained in this press release are forward-looking statements, including without limitation statements regarding our forecasts, estimates or other expectations regarding future events, operations or financial results, and regarding technological advancements and our financial position, business strategy, and plans and objectives of our management including statements under "Management Comment" for future operations; statements regarding our expectations regarding liquidity; statements regarding the anticipated benefits of our purchased single node channels; and statements regarding any potential transaction(s) with our controlling stockholder and any of its affiliates. In some cases, you can identify forward-looking statements by terms such as "aim," "may," "will," "should," "expects," "plans," "anticipates," "continues," "could," "intends," "goals," "target," "projects," "contemplates," "believes," "estimates," "predicts" or "potential" or the negative of these terms or other similar expressions. Such forward‑looking statements are based on the beliefs of our management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward‑looking statements as a result of certain factors. These factors include, but are not limited to, risks relating to the Company's ability to execute its business strategies and plans for growth; the efficacy of the purchased single node channels; the failure to operationalize the acquired equipment in a timely manner or at all; risks associated with the Company's ability to finance the transaction contemplated by the Purchase Agreement; risks relating to any potential transaction(s) with our controlling stockholder and any of its affiliates, the impact on our stock price of such potential transaction(s), our ability to consummate any such transaction, and our ability to achieve the anticipated benefits of any such potential transaction(s); our status as a controlled public company, which exempts us from certain corporate governance requirements; the limited market for our common stock; the impact of general economic, industry, market or political conditions, including tariffs; dependence upon energy industry spending; changes in exploration and production spending by our customers and changes in the level of oil and natural gas exploration and development; the results of operations and financial condition of our customers, particularly during extended periods of low prices for crude oil and natural gas; the volatility of oil and natural gas prices and markets; changes in economic conditions; surplus in the supply of oil and the ability of the Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, to agree on and comply with supply limitations; the potential for contract delays; reductions or cancellations of service contracts; limited number of customers; credit risk related to our customers; reduced utilization; high fixed costs of operations and high capital requirements; industry competition; external factors affecting the Company's crews such as weather interruptions and inability to obtain land access rights of way; whether the Company enters into turnkey or day rate contracts; crew productivity; risks that the Company's cash reserves, liquidity or capital resources may be insufficient; risks associated with the identification of suitable acquisition candidates and the successful, efficient execution of acquisition transactions, the integration of any such acquisition candidates, the value of those acquisitions to our customers and shareholders, and the financing of such acquisitions; risks related to our indebtedness and compliance with covenants contained in our revolving credit note; the Company's ability to execute its business strategies and plans for growth; the failure to operationalize the new single node channels in a timely manner or at all; disruptions in the global economy, including the Russian-Ukrainian conflict, the
DAWSON GEOPHYSICAL COMPANY | |||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS | |||||||||||
(unaudited and amounts in thousands, except share and per share data) | |||||||||||
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||
(unaudited) | |||||||||||
Operating revenues | |||||||||||
Fee revenue | $ | 22,940 | $ | 13,752 | $ | 61,876 | $ | 53,479 | |||
Reimbursable revenue | 4,010 | 1,885 | 13,749 | 20,675 | |||||||
26,950 | 15,637 | 75,625 | 74,154 | ||||||||
Operating costs: | |||||||||||
Fee operating expenses | 17,644 | 10,634 | 48,860 | 42,346 | |||||||
Reimbursable operating expenses | 4,010 | 1,885 | 13,749 | 20,675 | |||||||
Operating expenses | 21,654 | 12,519 | 62,609 | 63,021 | |||||||
General and administrative | 2,575 | 2,599 | 9,010 | 9,946 | |||||||
Depreciation and amortization | 1,876 | 1,353 | 5,670 | 5,736 | |||||||
26,105 | 16,471 | 77,289 | 78,703 | ||||||||
Income (loss) from operations | 845 | (834) | (1,664) | (4,549) | |||||||
Other income (expense): | |||||||||||
Interest income | 19 | 18 | 117 | 308 | |||||||
Interest expense | (331) | (39) | (536) | (159) | |||||||
Other income (expense), net | 36 | 24 | 148 | 288 | |||||||
Income (loss) before income tax | 569 | (831) | (1,935) | (4,112) | |||||||
Income tax benefit (expense): | — | 29 | (6) | (7) | |||||||
Net Income (loss) | 569 | (802) | (1,941) | (4,119) | |||||||
Other comprehensive income (loss): | |||||||||||
Net unrealized income (loss) on foreign exchange | 10 | (330) | 386 | (571) | |||||||
Comprehensive income (loss) | $ | 579 | $ | (1,132) | $ | (1,555) | $ | (4,690) | |||
Basic income (loss) per share of common stock | $ | 0.02 | $ | (0.03) | $ | (0.06) | $ | (0.13) | |||
Diluted income (loss) per share of common stock | $ | 0.02 | $ | (0.03) | $ | (0.06) | $ | (0.13) | |||
Weighted average equivalent common shares | 31,047,910 | 30,983,437 | 31,016,792 | 30,879,855 | |||||||
Weighted average equivalent common shares | 31,047,910 | 30,983,437 | 31,016,792 | 30,879,855 | |||||||
DAWSON GEOPHYSICAL COMPANY | |||||||
CONSOLIDATED BALANCE SHEETS | |||||||
(unaudited and amounts in thousands, except share data) | |||||||
December 31, | December 31, | ||||||
2025 | 2024 | ||||||
Assets | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 4,907 | $ | 1,385 | |||
Short-term investments | 370 | — | |||||
Accounts receivable, net of allowance for credit losses of | |||||||
at December 31, 2025 and 2024 | 9,389 | 9,970 | |||||
Prepaid expenses and other current assets | 7,169 | 3,186 | |||||
Total current assets | 21,835 | 14,541 | |||||
Property and equipment | 254,017 | 238,064 | |||||
Less accumulated depreciation | (223,242) | (225,085) | |||||
Property and equipment, net | 30,775 | 12,979 | |||||
Operating lease right-of-use assets | 3,036 | 3,002 | |||||
Intangibles, net | 364 | 348 | |||||
Total assets | $ | 56,010 | $ | 30,870 | |||
Liabilities and Stockholders' Equity | |||||||
Current liabilities: | |||||||
Accounts payable | $ | 9,578 | $ | 3,381 | |||
Accrued liabilities: | |||||||
Payroll costs and other taxes | 1,474 | 2,014 | |||||
Other | 994 | 830 | |||||
Deferred revenue | 7,477 | 1,570 | |||||
Current maturities of notes payable and finance leases | 6,232 | 1,010 | |||||
Current maturities of operating lease liabilities | 1,082 | 1,125 | |||||
Total current liabilities | 26,837 | 9,930 | |||||
Long-term liabilities: | |||||||
Notes payable and finance leases, net of current maturities | 11,324 | 1,512 | |||||
Operating lease liabilities, net of current maturities | 2,024 | 2,131 | |||||
Deferred tax liabilities, net | 17 | 16 | |||||
Total long-term liabilities | 13,365 | 3,659 | |||||
Commitments and contingencies (Note 16) | |||||||
Stockholders' equity: | |||||||
Preferred stock-par value | — | — | |||||
Common stock-par value | |||||||
31,052,840 and 30,983,437 shares issued and outstanding at December 31, 2025 | |||||||
and December 31, 2024, respectively | 311 | 310 | |||||
Additional paid-in capital | 157,154 | 157,073 | |||||
Accumulated deficit | (139,560) | (137,619) | |||||
Accumulated other comprehensive loss, net | (2,097) | (2,483) | |||||
Total stockholders' equity | 15,808 | 17,281 | |||||
Total liabilities and stockholders' equity | $ | 56,010 | $ | 30,870 | |||
DAWSON GEOPHYSICAL COMPANY | |||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
(unaudited and amounts in thousands) | |||||||
Year Ended December 31, | |||||||
2025 | 2024 | ||||||
Cash flows from operating activities: | |||||||
Net loss | $ | (1,941) | $ | (4,119) | |||
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||||||
Depreciation and amortization | 5,670 | 5,736 | |||||
Non-cash operating lease cost | 925 | 1,137 | |||||
Non-cash compensation | 130 | 473 | |||||
Deferred income tax expense | — | 1 | |||||
Bad debt expense | 177 | — | |||||
Gain on disposal of assets | (439) | (409) | |||||
Other | 11 | (11) | |||||
Change in operating assets and liabilities: | |||||||
Decrease in accounts receivable | 830 | 2,543 | |||||
(Increase) decrease in prepaid expenses and other assets | (1,903) | 5,653 | |||||
Increase (decrease) in accounts payable | 6,140 | (128) | |||||
Decrease in accrued liabilities | (422) | (1,244) | |||||
Decrease in operating lease liabilities | (1,108) | (1,239) | |||||
Increase (decrease) in deferred revenue | 5,907 | (10,259) | |||||
Net cash provided by (used in) operating activities | 13,977 | (1,866) | |||||
Cash flows from investing activities: | |||||||
Capital expenditures, net of non-cash capital expenditures summarized below | (6,831) | (1,865) | |||||
Proceeds from disposal of assets | 468 | 533 | |||||
Proceeds from insurance claim | — | 332 | |||||
Proceeds from maturity of short-term investments | — | 265 | |||||
Acquisition of short-term investments | (370) | — | |||||
Net cash used in investing activities | (6,733) | (735) | |||||
Cash flows from financing activities: | |||||||
Principal payments on notes payable | (2,666) | (947) | |||||
Principal payments on finance leases | (934) | (680) | |||||
Borrowings on line of credit (related party) | 3,500 | — | |||||
Repayments on line of credit (related party) | (3,500) | — | |||||
Tax withholdings related to stock based compensation awards | (48) | (76) | |||||
Other | (35) | — | |||||
Dividends paid | — | (9,860) | |||||
Net cash used in financing activities | (3,683) | (11,563) | |||||
Effect of exchange rate changes on cash and cash equivalents and restricted cash | (39) | (223) | |||||
Net increase (decrease) in cash and cash equivalents and restricted cash | 3,522 | (14,387) | |||||
Cash and cash equivalents and restricted cash at beginning of period | 1,385 | 15,772 | |||||
Cash and cash equivalents at end of period | $ | 4,907 | $ | 1,385 | |||
Supplemental cash flow information: | |||||||
Cash paid for interest | $ | 429 | $ | 159 | |||
Cash paid for income taxes | $ | 9 | $ | 59 | |||
Cash received for income taxes | $ | 70 | $ | 17 | |||
Non-cash operating, investing and financing activities: | |||||||
Increase (decrease) in accrued purchases of property and equipment | $ | — | $ | (332) | |||
Finance leases incurred | $ | 1,116 | $ | 1,326 | |||
Increase in right-of-use assets and operating lease liabilities | $ | 909 | $ | 977 | |||
Financed equipment purchases | $ | 15,450 | $ | — | |||
Financed insurance premiums | $ | 2,036 | $ | 204 | |||
Calculation of free-cash-flow | |||||||
Net cash provided by (used in) operations | $ | 13,977 | $ | (1,866) | |||
Less: Net cash used in investing activities | (6,733) | (735) | |||||
Free-cash-flow | $ | 7,244 | $ | (2,601) | |||
Reconciliation of EBITDA to Net (Loss) Income | |||||||||||||||||
(amounts in thousands) | |||||||||||||||||
Three Months Ended December 31, | |||||||||||||||||
2025 US | 2025 CA | 2025 Consol. | 2024 US | 2024 CA | 2024 Consol. | ||||||||||||
Net income (loss) | $ | 1,701 | $ | (1,132) | $ | 569 | $ | (355) | $ | (447) | $ | (802) | |||||
Depreciation and amortization | 1,641 | 235 | 1,876 | 1,141 | 212 | 1,353 | |||||||||||
Interest expense (income), net | 301 | 11 | 312 | 11 | 10 | 21 | |||||||||||
Income tax benefit | — | — | — | (29) | — | (29) | |||||||||||
EBITDA | 3,643 | (886) | 2,757 | 768 | (225) | 543 | |||||||||||
Strategic transaction costs | 528 | — | 528 | — | — | — | |||||||||||
Severance expense | — | — | — | 400 | — | 400 | |||||||||||
Adjusted EBITDA | $ | 4,171 | $ | (886) | $ | 3,285 | $ | 1,168 | $ | (225) | $ | 943 | |||||
Year Ended December 31, | |||||||||||||||||
2025 US | 2025 CA | 2025 Consol. | 2024 US | 2024 CA | 2024 Consol. | ||||||||||||
Net (loss) income | $ | (4,082) | $ | 2,141 | $ | (1,941) | $ | (4,907) | $ | 788 | $ | (4,119) | |||||
Depreciation and amortization | 4,859 | 811 | 5,670 | 4,752 | 984 | 5,736 | |||||||||||
Interest expense (income), net | 395 | 24 | 419 | (146) | (3) | (149) | |||||||||||
Income tax expense | 6 | — | 6 | 7 | — | 7 | |||||||||||
EBITDA | 1,178 | 2,976 | 4,154 | (294) | 1,769 | 1,475 | |||||||||||
Strategic transaction costs | 528 | — | 528 | — | — | — | |||||||||||
Severance expense | — | — | — | 486 | — | 486 | |||||||||||
Adjusted EBITDA | $ | 1,706 | $ | 2,976 | $ | 4,682 | $ | 192 | $ | 1,769 | $ | 1,961 | |||||
Reconciliation of EBITDA to Net Cash Provided By (Used in) Operating Activities | |||||||||||||||||
(amounts in thousands) | |||||||||||||||||
Three Months Ended December 31, | |||||||||||||||||
2025 US | 2025 CA | 2025 Consol. | 2024 US | 2024 CA | 2024 Consol. | ||||||||||||
Net cash provided by (used in) operating activities | $ | 3,450 | $ | (1,364) | $ | 2,086 | $ | (2,788) | $ | (2,637) | $ | (5,425) | |||||
Changes in working capital and other items | 365 | 536 | 901 | 3,954 | 2,469 | 6,423 | |||||||||||
Non-cash adjustments to net income (loss) | (172) | (58) | (230) | (398) | (57) | (455) | |||||||||||
EBITDA | 3,643 | (886) | 2,757 | 768 | (225) | 543 | |||||||||||
Strategic transaction costs | 528 | — | 528 | — | — | — | |||||||||||
Severance expense | — | — | — | 400 | — | 400 | |||||||||||
Adjusted EBITDA | $ | 4,171 | $ | (886) | $ | 3,285 | $ | 1,168 | $ | (225) | $ | 943 | |||||
Year Ended December 31, | |||||||||||||||||
2025 US | 2025 CA | 2025 Consol. | 2024 US | 2024 CA | 2024 Consol. | ||||||||||||
Net cash provided by (used in) operating activities | $ | 7,694 | $ | 6,283 | $ | 13,977 | $ | (2,821) | $ | 955 | $ | (1,866) | |||||
Changes in working capital and other items | (5,512) | (3,079) | (8,591) | 3,928 | 1,023 | 4,951 | |||||||||||
Non-cash adjustments to net (loss) income | (1,004) | (228) | (1,232) | (1,401) | (209) | (1,610) | |||||||||||
EBITDA | 1,178 | 2,976 | 4,154 | (294) | 1,769 | 1,475 | |||||||||||
Strategic transaction costs | 528 | — | 528 | — | — | — | |||||||||||
Severance expense | — | — | — | 486 | — | 486 | |||||||||||
Adjusted EBITDA | $ | 1,706 | $ | 2,976 | $ | 4,682 | $ | 192 | $ | 1,769 | $ | 1,961 | |||||
Statements of Operations by operating segment for the three and twelve months ended December 31, 2025 and 2024. | |||||||||||||||||
Three Months Ended December 31, 2025 | Year Ended December 31, 2025 | ||||||||||||||||
Canada Operations | Consolidated | Canada Operations | Consolidated | ||||||||||||||
Operating revenues | |||||||||||||||||
Fee revenue | $ | 20,444 | $ | 2,496 | $ | 22,940 | $ | 46,350 | $ | 15,526 | $ | 61,876 | |||||
Reimbursable revenue | 3,995 | 15 | 4,010 | 13,484 | 265 | 13,749 | |||||||||||
24,439 | 2,511 | 26,950 | 59,834 | 15,791 | 75,625 | ||||||||||||
Operating costs: | |||||||||||||||||
Fee operating expenses | 14,662 | 2,982 | 17,644 | 37,748 | 11,112 | 48,860 | |||||||||||
Reimbursable operating expenses | 3,995 | 15 | 4,010 | 13,484 | 265 | 13,749 | |||||||||||
Operating expenses | 18,657 | 2,997 | 21,654 | 51,232 | 11,377 | 62,609 | |||||||||||
General and administrative | 2,173 | 402 | 2,575 | 7,565 | 1,445 | 9,010 | |||||||||||
Depreciation and amortization | 1,641 | 235 | 1,876 | 4,859 | 811 | 5,670 | |||||||||||
22,471 | 3,634 | 26,105 | 63,656 | 13,633 | 77,289 | ||||||||||||
Income (loss) from operations | 1,968 | (1,123) | 845 | (3,822) | 2,158 | (1,664) | |||||||||||
Other income (expense): | |||||||||||||||||
Interest income | 17 | 2 | 19 | 92 | 25 | 117 | |||||||||||
Interest expense | (318) | (13) | (331) | (487) | (49) | (536) | |||||||||||
Other income (expense), net | 34 | 2 | 36 | 141 | 7 | 148 | |||||||||||
Income (loss) before income tax | 1,701 | (1,132) | 569 | (4,076) | 2,141 | (1,935) | |||||||||||
Current | — | — | — | (6) | — | (6) | |||||||||||
Deferred | — | — | — | — | — | — | |||||||||||
Income tax expense | — | — | — | (6) | — | (6) | |||||||||||
Net income (loss) | $ | 1,701 | $ | (1,132) | $ | 569 | $ | (4,082) | $ | 2,141 | $ | (1,941) | |||||
Adjusted EBITDA | $ | 4,171 | $ | (886) | $ | 3,285 | $ | 1,706 | $ | 2,976 | $ | 4,682 | |||||
Three Months Ended December 31, 2024 | Year Ended December 31, 2024 | ||||||||||||||||
Canada Operations | Consolidated | Canada Operations | Consolidated | ||||||||||||||
Operating revenues | |||||||||||||||||
Fee revenue | $ | 9,488 | $ | 4,264 | $ | 13,752 | $ | 40,748 | $ | 12,731 | $ | 53,479 | |||||
Reimbursable revenue | 1,728 | 157 | 1,885 | 20,481 | 194 | 20,675 | |||||||||||
11,216 | 4,421 | 15,637 | 61,229 | 12,925 | 74,154 | ||||||||||||
Operating costs: | |||||||||||||||||
Fee operating expenses | 6,604 | 4,030 | 10,634 | 32,797 | 9,549 | 42,346 | |||||||||||
Reimbursable operating expenses | 1,728 | 157 | 1,885 | 20,481 | 194 | 20,675 | |||||||||||
Operating expenses | 8,332 | 4,187 | 12,519 | 53,278 | 9,743 | 63,021 | |||||||||||
General and administrative | 2,126 | 473 | 2,599 | 8,542 | 1,404 | 9,946 | |||||||||||
Depreciation and amortization | 1,141 | 212 | 1,353 | 4,752 | 984 | 5,736 | |||||||||||
11,599 | 4,872 | 16,471 | 66,572 | 12,131 | 78,703 | ||||||||||||
(Loss) income from operations | (383) | (451) | (834) | (5,343) | 794 | (4,549) | |||||||||||
Other income (expense): | |||||||||||||||||
Interest income | 14 | 4 | 18 | 260 | 48 | 308 | |||||||||||
Interest expense | (25) | (14) | (39) | (114) | (45) | (159) | |||||||||||
Other income (expense), net | 10 | 14 | 24 | 297 | (9) | 288 | |||||||||||
(Loss) income before income tax | (384) | (447) | (831) | (4,900) | 788 | (4,112) | |||||||||||
Income tax benefit (expense) | 29 | — | 29 | (7) | — | (7) | |||||||||||
Net (loss) income | $ | (355) | $ | (447) | $ | (802) | $ | (4,907) | $ | 788 | $ | (4,119) | |||||
Adjusted EBITDA | $ | 1,168 | $ | (225) | $ | 943 | $ | 192 | $ | 1,769 | $ | 1,961 | |||||
____________________ | |
1 | Defined as fee revenues less fee operating expenses, divided by fee revenues |
View original content:https://www.prnewswire.com/news-releases/dawson-geophysical-reports-fourth-quarter-and-year-end-2025-results-302729223.html
SOURCE Dawson Geophysical Company
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