secwatch.observer — SEC 8-K summary
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Issuer:     DAWSON GEOPHYSICAL CO (DWSN)
CIK:        0000799165
Form:       8-K
Filed at:   2023-07-31T23:59:59+00:00
Accession:  0001104659-23-085509
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dawson Geophysical reports Q2 2023 revenue of $20.2M, net loss of $4.4M ($0.18 per share), narrower than prior year
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- Revenue $20.2M vs $4.8M YoY; net loss $4.4M ($0.18/sh) vs $7.6M ($0.30/sh) prior year.
- Negative EBITDA $2.5M versus $4.6M in Q2 2022; transaction costs of $685,000 excluded from adjusted net loss of $3.7M ($0.15/sh).
- Started Q2 with two mid-sized crews, dropped to one crew due to weather and delays; anticipate second crew mid-late Q3, full utilization by Q4.
- Acquired Breckenridge Geophysical assets in Q1; $9.9M convertible note to Wilks for ~5.8M shares pending shareholder approval.
- CEO cites carbon capture opportunities as growth momentum; several large projects expected in 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799165/000110465923085509/0001104659-23-085509-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799165/000110465923085509/tm2322328d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-085509

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer