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Dawson Geophysical Company reports news about North American onshore seismic data acquisition services for oil and natural gas exploration and development customers, independent operators, major energy companies, and providers of multi-client data libraries. The company acquires and processes 2-D, 3-D, and multi-component seismic data in the continental United States and Canada, including work tied to land and land-to-water transition areas.
Recurring Dawson Geophysical developments include quarterly results, crew utilization, backlog, seismic survey demand, and capital spending on high-channel-count field equipment. Company updates also cover single node channel deployments, vibrator energy source capacity, CCUS seismic monitoring, and the use of seismic acquisition capabilities in carbon capture, geothermal, and critical rare-earth minerals applications.
Dawson Geophysical (NASDAQ:DWSN) reported strong first quarter 2026 results, driven by full deployment of new single node channels and high crew utilization.
Revenue was $36.7 million, up 128% year-over-year, with fee revenue of $32.5 million. Net income reached $7.7 million ($0.25 per share), and Adjusted EBITDA was $10.9 million, up 364%.
Gross margin1 improved to 40% from 28%. Cash was $1.4 million, working capital improved to $0.4 million, and the $4.5 million credit facility was undrawn. A $3 million 2026 capital budget includes the final $0.9 million payment for node purchases.
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.
Dawson Geophysical (NASDAQ: DWSN) will release preliminary, unaudited fourth quarter and year-end 2025 results after market close on Monday, March 30, 2026.
An investor conference call to review Q4 results is scheduled for Tuesday, March 31, 2026 at 9:00 a.m. Central Time, with live internet access and dial-in options.
Dawson Geophysical (NASDAQ: DWSN) reported unaudited Q3 2025 results for the quarter ended September 30, 2025. Fee revenues were $14.9M, up 220% year-over-year, with total reimbursable revenue of $7.8M versus $9.8M a year earlier. Gross margin improved to 15% from negative 37% a year ago. The company reported a net loss of $1.2M ($0.04 per share) versus a $5.6M loss in Q3 2024 and EBITDA of $0.2M versus negative $4.3M. Year-to-date EBITDA was $1.4M.
Operations: over 180,000 channels available; first single node deliveries in Aug–Oct with expanded deployments planned in Q4. Liquidity: YTD operating cash flow of $11.9M, cash of $5.1M at Sept 30, 2025, and a $5M revolving credit facility entered in Oct 2025.
Dawson Geophysical (NASDAQ: DWSN) reported its Q2 2025 financial results, highlighting a significant capital investment in new single node channels from Geospace Technologies. The company posted fee revenues of $8.7 million, up 5% year-over-year, with a gross margin improvement to 13% from 1% in Q2 2024.
The company reported a net loss of $2.3 million ($0.08 per share), improved from a $3.5 million loss in Q2 2024. Under the Equipment Purchase Agreement with GTC, Dawson will invest $24.2 million in new equipment, with deliveries scheduled between August 2025 and January 2026. The company's U.S. revenues increased over 200% quarter-over-quarter, with cash position strengthening to $16.2 million and working capital reaching $4.9 million.
Geospace Technologies (NASDAQ: GEOS) has secured a significant $24 million contract with Dawson Geophysical Company for the sale of Pioneer™, its ultralight seismic land node system. This marks the first major sale of the Pioneer™ technology, with deliveries scheduled to begin in Q3 2025.
The Pioneer™ system, weighing less than 0.5kg, is designed for autonomous land wireless seismic data acquisition, featuring up to 50 days of continuous recording and QuickDeploy functionality. The USA-manufactured device includes a proprietary 5Hz geophone for enhanced image quality, offering operational efficiency through reduced power consumption and lighter weight without compromising data quality.
Dawson Geophysical (NASDAQ: DWSN) reported its Q1 2025 financial results, showing mixed performance. Revenue decreased 49% to $16.1 million compared to $31.6 million in Q1 2024, with gross margin declining to 28% from 36%. However, the company maintained profitability with net income of $1 million ($0.03 per share) and Adjusted EBITDA of $2.3 million.
The company's Canadian operations showed strong performance with a 48% increase in fee revenue, generating $5.5 million in net income. Dawson expects improved utilization with one large channel crew operating through year-end. The Board approved a $6 million capital budget for 2025 for potential single node channel purchases. Cash position strengthened to $2.7 million with working capital reaching $6.7 million as of March 31, 2025.
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.