Quarterly ResultMay 14, 2026, 04:20 PM
Dawson Geophysical Q1 Revenue +128% to $36.7M; Net Income $7.7M
AI Summary
Dawson Geophysical Company reported strong preliminary and unaudited financial results for the first quarter ended March 31, 2026. The company saw significant growth in revenue and net income, driven by high utilization of its new single node channels and additional crews. Management expressed optimism about capitalizing on current market opportunities and improving operational efficiencies.
Key Highlights
- Recognized fee revenue of $32.5 million, an 113% increase over Q1 2025.
- Total revenues for Q1 2026 were $36.7 million, a 128% increase from Q1 2025.
- Net income reached $7.7 million, or $0.25 per share, for Q1 2026.
- Generated Adjusted EBITDA of $10.9 million, a 364% increase over Q1 2025.
- Gross margin for Q1 2026 was 40%, up from 28% in Q1 2025.
- Cash position was $1.4 million as of March 31, 2026.
- Working capital improved to $0.4 million from a $5 million deficit at Dec 31, 2025.
- Board approved a capital budget of $3 million for 2026.