Filing Flows › Dawson Geophysical (DWSN) › Q4 2025
Dawson Geophysical (DWSN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 31, 2026
Dawson Geophysical (DWSN) reported revenue of $26.9M for the fourth quarter 2025 (Q4 2025), +72% from a year earlier and +18% from the quarter before. Operating margin was 3.1%, net earnings $569K (2.1% of revenue).
Dawson Geophysical, Q4 2025: revenue $26.9M (+72% year over year), operating margin 3.1%, net earnings $569K, operating cash flow $2.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $26.9M | +18% | +72% |
| Operating profit | $845K | — | — |
| Net earnings | $569K | — | — |
| Operating cash flow | $2.1M | — | — |
| Free cash flow | $1.4M | — | — |
What changed
Revenue was $26.9M in Q4 2025, up 72% year over year and up 18% from the previous quarter. Fee Revenue was the largest line at 85% of revenue.
Operating profit was $845K, a 3.1% margin (up 8.5 points year over year). Total costs grew 58% against revenue growth of 72%. The fastest-growing cost line was Cost of revenue (+73%). Net earnings were $569K. The effective tax rate was 0.0%.
Operating cash flow was $2.1M, 367% of net earnings. Non-cash charges added back $1.9M of depreciation and amortization and $43K of share-based compensation. Working capital and other items used $402K. Capital expenditures of $714K left free cash flow of $1.4M.
Questions
What was Dawson Geophysical's revenue in the fourth quarter 2025?
Dawson Geophysical (DWSN) reported revenue of $26.9M for the fourth quarter 2025 (Q4 2025), +72% from a year earlier and +18% from the quarter before.
Was Dawson Geophysical profitable in the fourth quarter 2025?
Operating profit was $845K (3.1% of revenue) and net earnings $569K.
Source: Dawson Geophysical 10-K on SEC EDGAR.