DAWSON GEOPHYSICAL CO

For the period ended Dec 31, 2024. Filed Apr 2, 2025.

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.

FY2024 · Filed Apr 2, 2025

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, ·
· 2024 · 2023
Cash flows from operating activities:
Net loss	$(4,119)	$(12,147)

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	5,736	8,492
Non-cash operating lease cost	1,137	1,094
Non-cash compensation	473	—
Deferred income tax expense (benefit)	1	(121)
Bad debt expense	—	68
Gain on disposal of assets	(409)	(23)
Other	(11)	—
Change in operating assets and liabilities:
Decrease (increase) in accounts receivable	2,543	(5,802)
Decrease in employee retention credit receivable	—	3,035
Decrease in prepaid expenses and other assets	5,653	1,902
(Decrease) increase in accounts payable	(128)	138
(Decrease) increase in accrued liabilities	(1,244)	906
Decrease in operating lease liabilities	(1,239)	(1,177)
(Decrease) increase in deferred revenue	(10,259)	4,449

Net cash (used in) provided by operating activities	(1,866)	814

Cash flows from investing activities:
Capital expenditures, net of non-cash capital expenditures summarized below	(1,865)	(3,721)
Proceeds from disposal of assets	533	217
Proceeds from insurance claim	332	—
Proceeds from maturity of short-term investments	265	—
Acquisition of short-term investments	—	(1,000)

Net cash used in investing activities	(735)	(4,504)

Cash flows from financing activities:
Principal payments on notes payable	(947)	(896)
Principal payments on finance leases	(680)	(253)
Tax withholdings related to stock based compensation awards	(76)	—
Dividends paid	(9,860)	—
Breckenridge cash distributions prior to acquisition	—	(3,055)

Net cash used in financing activities	(11,563)	(4,204)

Effect of exchange rate changes on cash and cash equivalents and restricted cash	(223)	63

Net decrease in cash and cash equivalents and restricted cash	(14,387)	(7,831)

Cash and cash equivalents and restricted cash at beginning of period	15,772	23,603

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

Supplemental cash flow information:
Cash paid for interest	$159	$98
Cash paid for income taxes	$59	$—
Cash received for income taxes	$17	$9

Non-cash operating, investing and financing activities:
Decrease in accrued purchases of property and equipment	$(332)	$(272)
Finance leases incurred	$1,326	$1,730
Increase in right-of-use assets and operating lease liabilities	$977	$283
Financed insurance premiums	$204	$1,602
Deemed distribution of Breckenridge net assets not acquired	$—	$2,329
Acquisition of Breckenridge net assets	$—	$(1,335)

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.