Dawson Geophysical Q1 revenue $16.1M (-49% YoY); net income $1M, Adj. EBITDA $2.3M

DAWSON GEOPHYSICAL CO

2025-Q1 EPS reported $0.03 revenue$16,078,000

Revenue of $16.1M, down 49% from $31.6M in Q1 2024. Gross margin 28% vs 36%.
Net income $1M ($0.03 EPS); Adjusted EBITDA $2.3M vs $7.6M in prior year.
Canada operations revenue up 48%, generated $5.5M net income and $5.7M Adjusted EBITDA.
Capital budget of $6M for 2025; cash $2.7M, working capital $6.7M at March 31, 2025.
Backlog improving; one large channel crew highly utilized through year; expect Q2 revenue increase.

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