DAWSON GEOPHYSICAL CO

For the period ended Dec 31, 2025. Filed Mar 31, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Mar 31, 2026

DWSN$1.66+3.7%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

(amounts in thousands)


· · Year Ended December 31, ·
· · 2025 · · 2024
Cash flows from operating activities:
Net loss	$(1,941)	$(4,119)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	5,670	5,736
Non-cash operating lease cost	925	1,137
Non-cash compensation	130	473
Deferred income tax expense	—	1
Bad debt expense	177	—
Gain on disposal of assets	(439)	(409)
Other	11	(11)
Change in operating assets and liabilities:
Decrease in accounts receivable	830	2,543
(Increase) decrease in prepaid expenses and other assets	(1,903)	5,653
Increase (decrease) in accounts payable	6,140	(128)
Decrease in accrued liabilities	(422)	(1,244)
Decrease in operating lease liabilities	(1,108)	(1,239)
Increase (decrease) in deferred revenue	5,907	(10,259)

Net cash provided by (used in) operating activities	13,977	(1,866)

Cash flows from investing activities:
Capital expenditures, net of non-cash capital expenditures summarized below	(6,831)	(1,865)
Proceeds from disposal of assets	468	533
Proceeds from insurance claim	—	332
Proceeds from maturity of short-term investments	—	265
Acquisition of short-term investments	(370)	—

Net cash used in investing activities	(6,733)	(735)

Cash flows from financing activities:
Principal payments on notes payable	(2,666)	(947)
Principal payments on finance leases	(934)	(680)
Borrowings on line of credit (related party)	3,500	—
Repayments on line of credit (related party)	(3,500)	—
Tax withholdings related to stock based compensation awards	(48)	(76)
Other	(35)	—
Dividends paid	—	(9,860)

Net cash used in financing activities	(3,683)	(11,563)

Effect of exchange rate changes on cash and cash equivalents and restricted cash	(39)	(223)

Net increase (decrease) in cash and cash equivalents and restricted cash	3,522	(14,387)

Cash and cash equivalents and restricted cash at beginning of period	1,385	15,772

Cash and cash equivalents at end of period	$4,907	$1,385

Supplemental cash flow information:
Cash paid for interest	$429	$159
Cash paid for income taxes	$9	$59
Cash received for income taxes	$70	$17

Non-cash operating, investing and financing activities:
Increase (decrease) in accrued purchases of property and equipment	$—	$(332)
Finance leases incurred	$1,116	$1,326
Increase in right-of-use assets and operating lease liabilities	$909	$977
Financed equipment purchases	$15,450	$—
Financed insurance premiums	$2,036	$204

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.