Dawson Geophysical ( (DWSN) ) has released its Q4 earnings. Here is a breakdown of the information Dawson Geophysical presented to its investors.
Dawson Geophysical Company is a leading provider of onshore seismic data acquisition services, operating across the continental United States and Canada, primarily serving the oil and gas industry. In its latest earnings report, Dawson Geophysical announced a positive adjusted EBITDA of $2 million for 2024, marking the first positive annual adjusted EBITDA since 2020. The company improved its gross margin from 16% in 2023 to 21% in 2024 and reduced general and administrative expenses by 25% year-over-year. Despite a 23% decrease in annual revenue to $74.2 million, the company reduced its net loss to $4.1 million from $12.1 million in the previous year. Dawson Geophysical highlighted its strong backlog of projects for 2025, which is more than 150% of the revenues for the comparable period in 2024. The company also emphasized its competitive advantage in larger seismic jobs due to its high channel count and quantity of vibrator energy source units. Looking ahead, Dawson Geophysical is optimistic about building on the foundation laid in 2024, expecting continued improvement in operating results and cash flows in 2025.