DWSN - Mergers and acquisitions

MIDLAND, Texas, May 14, 2026 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company") today reported unaudited financial results for its first quarter ended March 31, 2026. First quarter 2026 HighlightsRecognized fee revenue of $32.5 million, an 113% increase over the first quarter of 2025Net income of $7.7 million, $0.25 per shareGenerated Adjusted EBITDA of $10.9 million, an 364% increase over the first quarter of 2025Adjusted EBITDA is a non-GAAP measure. See "Supplemental Non-GAAP Financial Measures" below for our definition and reconciliation of Adjusted EBITDA.Management CommentTony Clark, Dawson's President and CEO, commented, "We received our final delivery of the sin

MIDLAND, Texas, March 30, 2026 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company") today reported unaudited financial results for its fourth quarter and fiscal year ended December 31, 2025. Fourth quarter 2025 HighlightsRecognized Fee revenue of $22.9 million, a 67% increase over the fourth quarter of 2024Net income of $0.6 million, $0.02 per shareGenerated Adjusted EBITDA of $3.3 million in the fourth quarter, up 248% compared to fourth quarter of 2024Successful initial deployments of new single node channels in the fieldFull-Year 2025 HighlightsIncreased Fee revenue 16% year-over-year to $61.9 millionNet loss of $1.9 million, $0.06 per share, compared to $4.1 million i

MIDLAND, Texas, Nov. 12, 2025 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company") today reported unaudited financial results for its third quarter ended September 30, 2025. Management Comment Tony Clark, Dawson's President and CEO, commented, "We received our first delivery of our new single node channels in mid-August and immediately deployed the new equipment on a small channel crew with promising results. Due to the high demand from our customers for this equipment, we have accelerated our delivery timeline and received two additional equipment deliveries, at the end of September and October. We expect that the increase in our channel count will allow us to continue

MIDLAND, Texas, Aug. 12, 2025 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company") today reported unaudited financial results for its second quarter ended June 30, 2025. Management Comment Tony Clark, Dawson's President and CEO, commented, "Due to the observed increase in demand for large integrated high-resolution, high channel count surveys and improvement to our backlog, we made the decision to make a significant capital investment to purchase new single node channels from a wholly-owned subsidiary of Geospace Technologies. These new channels are a small, lightweight, single-component, autonomous land wireless seismic data acquisition solution. Each sub-1-pound wirele

$24 Million Contract Represents the First Significant Sale of Pioneer™ Geospace Technologies Corporation (NASDAQ:GEOS) ("Geospace") and Dawson Geophysical Company (NASDAQ:DWSN) ("Dawson") today jointly announced the first major sale of the Geospace Pioneer™, ultralight seismic land node, to Dawson a geophysical services provider. Based on current contract terms the estimated value of the agreement is expected to reach approximately $24 million. The delivery of Pioneer will begin in the third quarter of the calendar year 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250811908696/en/ "In our industry, Geospace set the sta

MIDLAND, Texas, May 13, 2025 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company") today reported unaudited financial results for its first quarter ended March 31, 2025. Management Comment Tony Clark, Dawson's President and CEO, commented, "We continue to improve our backlog for the remainder of the year, and expect to have one large channel crew highly utilized from the beginning of April through the end of the year. We continue to test new single node channels from multiple vendors in the field with promising results, with our pilot program in Canada significantly improving our teams' efficiency and margins. As our backlog improves, we plan to reinvest our profits in ne

MIDLAND, Texas, March 28, 2025 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company") today reported unaudited financial results for its fourth quarter and fiscal year ended December 31, 2024. Management Comment Tony Clark, Dawson's President and CEO, commented, "I am proud of the progress the Dawson team made during 2024, generating $2 million of adjusted EBITDA, the Company's first positive annual adjusted EBITDA since 2020. We significantly adjusted our cost structure improving our gross margin1 from 16% in 2023 to 21% in 2024, and reduced our general and administrative expenses by 25% year-over-year. We took our first steps to returning this company to profitability in

MIDLAND, Texas, Nov. 12, 2024 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company") today reported unaudited financial results for its third quarter ended September 30, 2024. Management Comment Tony Clark, Dawson's President and CEO, commented, "We began the quarter with one crew operating in the United States, and had two small channel crews operating later in the quarter. We currently have one crew operating and a second large channel crew scheduled to deploy in mid-November, which will utilize the majority of our channels in the United States. Our seasonal operations in Canada resumed in October, and we expect increased revenues and profitability from Canada through th

MIDLAND, Texas, Aug. 12, 2024 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company") today reported unaudited financial results for its second quarter ended June 30, 2024. Management Comment Tony Clark, Dawson's President and CEO, commented, "We began the quarter with two crews operating in the United States, and dropped to one crew in late May. We reacted quickly to the softness in our calendar and reduced headcount to one crew to conserve our cash flows during this time. We have strategically adjusted our bidding and marketing process to improve our utilization throughout the year going forward. We expect to ramp up our activity later in the third quarter of this year im

MIDLAND, Texas, May 13, 2024 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company") today reported unaudited financial results for its first quarter ended March 31, 2024. Management Comment Tony Clark, Dawson's President and CEO, commented, "Our new management team completed our first full quarter, delivered solid financial results, and I am confident that the Dawson team is positioned to continue to build on these results going forward. We took steps in the right direction to execute our goals of improving margins on our seismic acquisition services, reducing general and administrative expenses, and improving our operating cash flows in the first quarter. We plan on conti

MIDLAND, Texas, April 1, 2024 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company") today reported unaudited financial results for its fourth quarter and fiscal year ended December 31, 2023. Management Comment Tony Clark, Dawson's President and CEO, commented, "I appreciate the opportunity presented to me, and our team, to bring Dawson back to profitability. The current management team is focused on improving margins on our seismic acquisition services, reducing general and administrative expenses, and improving operating cash flows. We have adjusted our bidding process to better account for our cost structure, implemented measures to improve tracking of revenues and expe

MIDLAND, Texas, July 31, 2023 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company") today reported unaudited financial results for its second quarter ended June 30, 2023. Financial and operational results include the business and assets the Company acquired from Breckenridge Geophysical, LLC ("Breckenridge") in the first quarter. As previously announced, on March 24, 2023, the Company entered into an Asset Purchase Agreement (the "Purchase Agreement") with Wilks Brothers, LLC ("Wilks") and Breckenridge. Pursuant to the Purchase Agreement and upon the terms and subject to the conditions generally described in our Form 8-K filed with the SEC on March 24, 2023, the Company co

MIDLAND, Texas, May 15, 2023 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company") today reported unaudited financial results for its first quarter ended March 31, 2023. Financial and operational results include the business and assets the Company acquired from Breckenridge Geophysical, LLC ("Breckenridge") in the first quarter. As previously announced, on March 24, 2023, the Company entered into an Asset Purchase Agreement (the "Purchase Agreement") with Wilks Brothers, LLC ("Wilks") and Breckenridge. Pursuant to the Purchase Agreement and upon the terms and subject to the conditions generally described in our Form 8-K filed with the SEC on March 24, 2023, the Company com

MIDLAND, Texas, March 24, 2023 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company" or "Dawson") today announced that it has entered into an asset purchase agreement with Wilks Brothers, LLC and Breckenridge Geophysical, LLC ("Breckenridge"), pursuant to which the Company purchased substantially all of the Breckenridge assets related to seismic data acquisition services other than its multi-client data library. The transaction is effective immediately and Dawson extended offers of employment to relevant employees of Breckenridge to continue supporting the acquired assets and business. The parties plan to begin integration of the acquired assets and business into Dawson's o

MIDLAND, Texas, March 13, 2023 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company") today reported unaudited financial results for its fourth quarter and fiscal year ended December 31, 2022. For the fourth quarter ended December 31, 2022, the Company reported revenues of $14,662,000, an increase of approximately 35% compared to $10,840,000 for the comparable quarter ended December 31, 2021. For the fourth quarter of 2022, the Company narrowed its net loss to $2,779,000 or $0.12 loss per common share compared to a net loss of $6,981,000 or $0.30 loss per common share for the fourth quarter of 2021. The Company narrowed its EBITDA loss to $500,000 for the quarter ended Dece

MIDLAND, Texas, Nov. 10, 2022 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company") today reported unaudited financial results for its third quarter ended September 30, 2022. For the quarter ended September 30, 2022, the Company reported revenues of $3,538,000, an increase of approximately 85% compared to $1,914,000 for the comparable quarter ended September 30, 2021. For the third quarter of 2022, the Company reported a net loss of $7,603,000 or $0.32 loss per common share compared to a net loss of $7,865,000 or $0.33 loss per common share for the third quarter of 2021. The Company reported negative EBITDA of $5,332,000 for the quarter ended September 30, 2022 compared to

MIDLAND, Texas, Aug. 12, 2022 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company") today reported unaudited financial results for its second quarter ended June 30, 2022. For the quarter ended June 30, 2022, the Company reported revenues of $921,000, a slight increase compared to $193,000 for the comparable quarter ended June 30, 2021. For the second quarter of 2022, the Company reported a net loss of $7,678,000 or $0.32 loss per common share compared to a net loss of $9,017,000 or $0.38 loss per common share for the second quarter of 2021. The Company reported negative EBITDA of $5,231,000 for the quarter ended June 30, 2022 compared to negative EBITDA of $5,667,000 for t

MIDLAND, Texas, March 8, 2022 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) (the "Company") today reported unaudited financial results for its fourth quarter and full year ended December 31, 2021. For the fourth quarter ended December 31, 2021, the Company reported revenues of $10,840,000, an increase of approximately 22.0% compared to $8,884,000 for the quarter ended December 31, 2020. For the fourth quarter of 2021, the Company reported a net loss of $6,981,000, or $0.30 loss per share of common stock, compared to a net loss of $7,849,000, or $0.33 loss per share of common stock, for the quarter ended December 31, 2020. The Company reported negative EBITDA of $4,266,000 for the

MIDLAND, Texas, Jan. 18, 2022 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) ("Dawson" or the "Company") announced today the successful completion of the previously announced tender offer (the "Offer") by WB Acquisitions Inc. ("Merger Sub"), a subsidiary of Wilks Brothers, LLC ("Wilks"), for all of the outstanding common stock of the Company (the "Shares"). The Offer expired at the end of the day on January 14, 2022. Merger Sub was advised by American Stock Transfer & Trust Company, LLC, in its capacity as depositary for the Offer, that, as of the expiration of the Offer, a total of 15,285,001 Shares (excluding any Shares tendered pursuant to guaranteed delivery procedures that wer

MIDLAND, Texas, Nov. 16, 2021 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) ("Dawson" or the "Company") today released the following letter to shareholders concerning the pending tender offer by Wilks Brothers, LLC issued by Stephen C. Jumper, President and Chief Executive Officer on behalf of the Dawson Board of Directors. November 16, 2021 Fellow Dawson Shareholders: As previously disclosed, the Company announced a transaction with Wilks Brothers, LLC ("Wilks") on October 25, 2021.  The transaction involves a tender offer by a Wilks subsidiary to purchase outstanding Dawson common shares at $2.34 per share and a follow-on merger.  The tender offer commenced on November 1, 2021 a

FORT WORTH, Texas, Nov. 1, 2021 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) ("Dawson") and Wilks Brothers, LLC ("Wilks"), today announced that WB Acquisitions Inc., a wholly-owned subsidiary of Wilks, has commenced the previously announced tender offer for all of the outstanding shares of common stock of Dawson at a price of $2.34 per share, net to the seller in cash without interest thereon and less any applicable withholding taxes (the "Offer"). On October 25, 2021, Dawson announced that Dawson and Wilks had signed a definitive merger agreement pursuant to which the tender offer would be made. Dawson's board of directors by unanimous vote approved the terms of the merger agre

MIDLAND, Texas, Oct. 25, 2021 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ:DWSN) ("Dawson" or the "Company") and Wilks Brothers, LLC ("Wilks") today announced that they have entered into a definitive merger agreement (the "Merger Agreement") pursuant to which a subsidiary of Wilks will commence on or before November 1, 2021 a tender offer to acquire all of the Company's outstanding common shares for $2.34 per share in cash (the "Offer"). Subject to the closing of the Offer, the merger agreement also contemplates that Wilks will acquire any Dawson shares that are not tendered into the Offer at the same price per share through a second-step merger, which will be completed as soon as prac

MIDLAND, Texas, April 8, 2021 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ: DWSN) (the "Company") announced today that its Board of Directors has adopted a Rights Plan designed to protect Company shareholders from coercive or unfair takeover techniques and to help ensure that the Company's shareholders are not deprived of the opportunity to realize the full and fair value of their investment, particularly given current market conditions. The Rights Plan is not designed to prevent any action that the Board of Directors determines to be in the best interest of the Company and its shareholders. The Rights Plan, dated as of April 8, 2021, has a limited duration and will expire on April 7,

MIDLAND, Texas, March 11, 2021 /PRNewswire/ -- Dawson Geophysical Company (NASDAQ: DWSN) (the "Company") today reported unaudited financial results for its fourth quarter and full year ended December 31, 2020. For the fourth quarter ended December 31, 2020, the Company reported revenues of $8,884,000, a decrease of approximately 74% compared to $33,557,000 for the quarter ended December 31, 2019. For the fourth quarter of 2020, the Company reported a net loss of $7,849,000, or $0.33 loss per share of common stock, compared to a net loss of $5,828,000, or $0.25 loss per share of common stock, for the quarter ended December 31, 2019. The Company reported negative EBITDA of $4,151,000 for the q