Dawson Geophysical Q2 loss narrows to $7.7M; revenues up but no US crew activity

DAWSON GEOPHYSICAL CO

2022-Q2 EPS reported -$0.42 revenue$19,280,000

Revenues $921K, up from $193K YoY; net loss $7.68M ($0.32/sh) vs $9.02M ($0.38) in Q2 2021.
Negative EBITDA improved to $5.23M from $5.67M; cash and short-term investments $29.9M, down 35% YoY.
No crew operated in US during Q2; small crew deployed in early Aug 2022; Canada expected earlier start with up to three crews through Q1 2023.
Six-month revenues $19.3M (+61%); net loss $10.1M ($0.42/sh) vs $14.2M ($0.61).
Capital budget $5M for 2022; only $95K spent in H1; CEO sees modest demand increase and high oil price environment.

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