secwatch.observer — SEC 8-K summary
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Issuer:     DAWSON GEOPHYSICAL CO (DWSN)
CIK:        0000799165
Form:       8-K
Filed at:   2024-08-12T23:59:59+00:00
Accession:  0001558370-24-011907
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dawson Geophysical Q2 revenue $12.5M, net loss $3.5M; crew count reduced to one
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- Revenue $12.5M, down 38% YoY from $20.2M; net loss $3.5M ($0.12/share) vs loss $4.4M ($0.18/share) in prior year.
- Negative Adjusted EBITDA of $2.3M vs negative $2.5M a year ago; year-to-date net income $2.3M ($0.07/share).
- Began Q2 with two crews, dropped to one in late May; expects two crews in Q3 and full deployment through mid-2025.
- Special cash dividend of $0.32/share paid May 6 for ~$9.9M; cash $11.2M, working capital $9M.
- Expects Canadian ops to resume in Q4; evaluating divestiture of under-utilized assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799165/000155837024011907/0001558370-24-011907-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799165/000155837024011907/dwsn-20240812x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-011907

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