secwatch.observer — SEC 8-K summary
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Issuer:     DAWSON GEOPHYSICAL CO (DWSN)
CIK:        0000799165
Form:       8-K
Filed at:   2025-05-13T23:59:59+00:00
Accession:  0001558370-25-007577
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799165/000155837025007577/0001558370-25-007577-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799165/000155837025007577/dwsn-20250513x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-25-007577

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