Filing Flows › Dawson Geophysical (DWSN) › Q3 2025
Dawson Geophysical (DWSN) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 13, 2025
Dawson Geophysical (DWSN) reported revenue of $22.7M for the third quarter 2025 (Q3 2025), +58% from a year earlier and +131% from the quarter before. Operating margin was -5.2%, net loss $1.2M (5.1% of revenue).
Dawson Geophysical, Q3 2025: revenue $22.7M (+58% year over year), operating margin -5.2%, net loss $1.2M, operating cash flow −$4.7M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $22.7M | +131% | +58% |
| Operating profit | −$1.2M | — | — |
| Net earnings | −$1.2M | — | — |
| Operating cash flow | −$4.7M | -132% | — |
What changed
Revenue was $22.7M in Q3 2025, up 58% year over year and up 131% from the previous quarter. Fee Revenue was the largest line at 66% of revenue. Fee Revenue added $10.3M year over year (up 220%), 123% of the total change. Reimbursable Revenue declined 20%.
Operating costs exceeded revenue by $1.2M, an operating margin of -5.2%. Total costs grew 19% against revenue growth of 58%. The fastest-growing cost line was Cost of revenue (+27%). The quarter ended with a net loss of $1.2M, narrower than the previous quarter's $2.3M loss.
Operating cash flow was −$4.7M. Non-cash charges added back $1.3M of depreciation and amortization. Working capital and other items used $4.9M. Capital expenditures of $5.4M exceeded it, leaving free cash flow of −$10.2M.
Questions
What was Dawson Geophysical's revenue in the third quarter 2025?
Dawson Geophysical (DWSN) reported revenue of $22.7M for the third quarter 2025 (Q3 2025), +58% from a year earlier and +131% from the quarter before.
Was Dawson Geophysical profitable in the third quarter 2025?
Operating loss was $1.2M (-5.2% of revenue) and net loss $1.2M.
Source: Dawson Geophysical 10-Q on SEC EDGAR.