Welcome to our dedicated page for Dawson Geophysic news (Ticker: DWSN), a resource for investors and traders seeking the latest updates and insights on Dawson Geophysic stock.
Dawson Geophysical (DWSN) delivers essential onshore seismic data services to energy companies across North America. This dedicated news hub provides investors and industry professionals with timely updates on corporate developments, technological advancements, and operational milestones.
Access authoritative coverage of DWSN's seismic acquisition projects, including 2-D/3-D survey updates and emerging CCUS monitoring applications. Our curated news collection features earnings reports, partnership announcements, and leadership updates directly impacting the energy services sector.
Key updates include:
- Quarterly financial performance and strategic initiatives
- Innovations in seismic imaging and data processing
- Major contract awards and client partnerships
- Operational expansions and technology deployments
Bookmark this page for streamlined access to Dawson Geophysical's evolving market position. Monitor how DWSN's specialized seismic solutions address energy exploration challenges and environmental monitoring needs.
Dawson Geophysical (NASDAQ: DWSN) reported its Q4 and fiscal year 2024 results, marking significant progress with its first positive annual adjusted EBITDA of $2 million since 2020. The company improved its gross margin from 16% in 2023 to 21% in 2024 and reduced G&A expenses by 25% year-over-year.
Q4 2024 revenues were $15.6 million, down 36% from $24.3 million in Q4 2023, with a net loss of $0.8 million ($0.03 per share). For full-year 2024, revenues decreased 23% to $74.2 million, with a net loss of $4.1 million ($0.13 per share), improved from a $12.1 million loss in 2023.
The company reports a strong backlog for H1 2025, exceeding 150% of comparable 2024 revenues. The Board approved a $6 million capital budget for 2025, with cash standing at $1.4 million and positive working capital of $4.6 million. Dawson is testing new single node channels with promising results, particularly in their Canadian operations.
Dawson Geophysical reported Q3 2024 financial results with revenues of $14.4 million, down 37% from $23 million in Q3 2023. The company posted a net loss of $5.6 million ($0.18 per share) compared to a $5.2 million loss in Q3 2023. For the nine months ended September 30, 2024, net loss was $3.3 million. The company operated with one crew in the US early in Q3, adding two small channel crews later. Operations in Canada resumed in October with expectations of increased revenues through Q1 2025. The Board approved a $6 million capital budget for new single node channels to improve efficiency. As of September 30, 2024, cash position stood at $7 million with positive working capital of $4.4 million.
Dawson Geophysical Company (NASDAQ: DWSN) reported its Q2 2024 financial results. The company experienced a 38% decrease in revenues to $12.5 million compared to $20.2 million in Q2 2023. Despite this, the net loss narrowed to $3.5 million ($0.12 per share) from $4.4 million ($0.18 per share) year-over-year. Year-to-date, DWSN achieved a net income of $2.3 million ($0.07 per share), a significant improvement from a $4.8 million loss in the same period of 2023.
The company reduced operations to one crew in late May but expects to ramp up to two crews later in Q3 2024. DWSN's cost reduction initiatives led to a 37% decrease in general and administrative expenses year-to-date. As of June 30, 2024, the company had $11.2 million in cash and $9 million in positive working capital.
Dawson Geophysical Company (NASDAQ: DWSN) reported its unaudited financial results for Q1 2024, ending March 31. The company achieved revenues of $31.6 million, a 7% increase from $29.4 million in Q1 2023, with a gross margin rising to 35% from 25%. Net income reached $5.8 million, or $0.19 per share, compared to a prior EBITDA of $2.2 million in Q1 2023. The company achieved positive EBITDA of $7.6 million. General and administrative expenses were reduced by 22% from Q4 2023. Operationally, high crew utilization contributed to improved margins. The company declared a special cash dividend of $0.32 per share, totaling $9.9 million. As of March 31, the company had $16.5 million in cash and restricted cash and $11.3 million in positive working capital. Significant developments include the release of a $5 million collateral deposit and closure of the associated revolving credit facility.
Dawson Geophysical Company (NASDAQ: DWSN) announced an immediate asset purchase agreement with Wilks Brothers, LLC and Breckenridge Geophysical, LLC. This acquisition focuses on seismic data acquisition services, excluding the multi-client data library, and involves 7,000,000 shares of Dawson common stock as consideration. Of these, 1,188,235 shares were issued at closing, while the remaining shares will convert later upon shareholder approval. The CEO expressed optimism about operational efficiencies and synergies from integrating Breckenridge's experienced team and resources into Dawson's operations.
