Dawson Geophysic SEC Filings

Dawson Geophysical Company (DWSN) furnished an 8‑K announcing a press release with preliminary, unaudited financial results for its third quarter ended September 30, 2025. The disclosure was made under Item 2.02 (Results of Operations and Financial Condition) and is furnished, not filed, under the Exchange Act. The company included customary forward‑looking statements cautionary language and attached the press release as Exhibit 99.1.

Dawson Geophysical Company entered into a new Revolving Credit Note with Equify Financial, allowing the company and its subsidiary to borrow up to $5,035,032 at a fixed 13% interest rate. The facility runs until November 20, 2028 and requires thirty-six monthly principal payments of $139,862, starting December 20, 2025, with interest due on the outstanding balance. The maximum borrowing limit reduces by $139,862 on each monthly payment date.

The obligations are secured by a lien on the company’s vibrator energy source vehicles. Borrowers may prepay up to 75% of the outstanding principal and accrued interest at any time without a prepayment fee. Equify is affiliated with controlling shareholders Dan and Farris Wilks; the transaction was reviewed and approved by the company’s Audit Committee.

Dawson Geophysical (DWSN) reported an insider equity grant. The company’s EVP & Chief Operating Officer filed a Form 4 showing an acquisition of 100,000 shares of common stock on 10/27/2025 at a stated price of $0, tied to restricted stock units.

The filing notes these are restricted stock units (RSUs), each representing the right to receive one share, vesting in three equal annual installments beginning in October 2026. Following the transaction, the officer beneficially owned 108,500 shares, held directly.

Dawson Geophysical (DWSN) disclosed a Form 4 showing CEO & President William Anthony Clark received 150,000 shares as a restricted stock unit grant on 10/27/2025 at a price of $0 under the Amended and Restated 2016 Stock and Performance Incentive Plan. The RSUs will vest in three equal annual installments beginning in October 2026.

Following this award, Clark beneficially owns 151,850 shares, held directly.

William Anthony Clark, identified as CEO & President of Dawson Geophysical Company (DWSN), reported a purchase of company common stock on 09/09/2025. The filing shows an acquisition of 550 shares at a price of $1.59 per share. Following this transaction, Mr. Clark beneficially owned 1,850 shares of Dawson Geophysical common stock. This submission is a Form 4 statement of changes in beneficial ownership filed under Section 16.

William Anthony Clark, CEO & President of Dawson Geophysical Company (DWSN), reported an insider purchase. On 08/20/2025 he acquired 500 shares of the company's common stock at a price of $1.40 per share, bringing his total beneficial ownership to 1,300 shares. The Form 4 was signed on 08/21/2025 and indicates the transaction was a direct acquisition.

Ray Mays, EVP & Chief Operating Officer of Dawson Geophysical Company (DWSN), reported a series of open-market purchases of the issuer's common stock. The Form 4 shows purchases executed on August 15 and August 18 totaling 4,050 shares acquired, increasing his reported beneficial ownership to 8,500 shares held directly. The filings list weighted-average purchase prices of $1.29, $1.28, $1.38, $1.39, and $1.40 for the individual transactions and note the reported prices are weighted averages. The reporting person certifies availability of further breakdowns on request. The disclosure is a routine insider acquisition by an executive and documents the updated direct ownership position.

Insider purchases increased stake in Dawson Geophysical Co. (DWSN). Chief Financial Officer Ian M. Shaw reported two open-market purchases: 5,000 shares on 08/15/2025 at a weighted average price of $1.28 and 5,000 shares on 08/18/2025 at a weighted average price of $1.35, bringing his total beneficial ownership to 20,000 common shares. The filing notes the reported prices are weighted averages and that the reporting person will provide purchase-by-purchase details on request. The transactions were reported on a single Form 4 filed by one reporting person.

Dawson Geophysical Company reported mixed second-quarter results driven by lower activity in early 2025 and a notable increase in deferred revenue backlog. Total revenue for the three months ended June 30, 2025 was $9.9 million (down from $12.5 million a year earlier) and revenue for the six months was $25.9 million (down from $44.1 million). The company recorded a net loss of $2.3 million for the quarter and a net loss of $1.4 million for the six months. EBITDA for the six months was $1.2 million.

Liquidity strengthened: cash and cash equivalents rose to $16.2 million and working capital was positive $4.9 million. Contract assets increased to $7.5 million and deferred revenue grew to $17.9 million, reflecting new projects with large third-party reimbursables. Subsequent to period-end, Dawson Operating entered an Equipment Purchase Agreement to acquire single point node channels for ~$24.2 million, funded by ~$4.8 million cash, ~$1.2 million payable on final delivery and ~$18.2 million financed via three 36-month promissory notes at 8.75%.