Every 10-Q that Dawson Geophysical Company New (DWSN) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow DWSN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full DWSN filings page.
Dawson Geophysical Company reported sharply higher activity for the quarter and six months ended June 30, 2026. Total revenues were $17.9 million in Q2 2026 versus $9.9 million a year earlier, and $54.6 million for the first half versus $25.9 million in 2025.
The company recorded a Q2 2026 net loss of $3.4 million, but generated net income of $4.2 million for the first six months, compared with a $1.4 million loss in the prior-year period. First-half Adjusted EBITDA rose to $11.5 million from $1.2 million. Results include $2.4 million of strategic transaction expenses related to discussions with controlling stockholder Wilks Brothers and its affiliates.
Cash and cash equivalents were $5.8 million with a working capital deficit of $2.9 million. The company has $14.7 million outstanding under Geospace equipment notes at 8.75% and access to an undrawn related-party revolving credit facility with $4.1 million available. Management highlights new single-node recording equipment and a 70,000-channel high-density seismic test project as key operational developments.
Dawson Geophysical Company reported a sharp turnaround in Q1 2026, with operating revenues rising to $36.7 million from $16.1 million a year earlier. Net income increased to $7.7 million, compared with $1.0 million in Q1 2025, driven mainly by much higher U.S. crew utilization after investing in new single node channels.
Fee revenue grew to $32.5 million, while Adjusted EBITDA improved to $10.9 million from $2.3 million. Cash from operations was a modest outflow of $0.5 million as accounts receivable nearly doubled, and the company carried $16.1 million of Geospace equipment notes at an 8.75% interest rate.
Dawson Geophysical Company reported stronger operational momentum in the quarter ended September 30, 2025. Revenue rose to $22.7 million from $14.4 million a year ago as U.S. crew utilization improved, narrowing the net loss to $1.15 million from $5.62 million. For the first nine months, revenue was $48.7 million versus $58.5 million last year, with a year‑to‑date net loss of $2.51 million.
The company is upgrading capacity with a $24.2 million purchase of single point node channels from Geospace, financed partly through 36‑month notes at 8.75%. As of September 30, Dawson had taken $10.4 million of deliveries and issued $7.5 million of notes, with two additional $3.5 million notes executed on October 28 and November 3. A new related‑party revolving credit note provides up to $5.04 million at 13%, secured by vibrator vehicles.
Cash from operations reached $11.9 million year‑to‑date. Cash was $5.1 million, and total assets were $40.6 million. Shares outstanding were 31,047,801 as of November 10, 2025.
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%.