Dawson Geophysical Q2 2024 Update: Assets & Liabilities Detailed

TL;DR

Dawson Geophysical's 10-Q shows $309M assets vs $30.8M liabilities as of 6/30/24.

AI Summary

Dawson Geophysical Co. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $309.07 million and total liabilities of $30.81 million as of June 30, 2024. The filing also references an Asset Purchase Agreement dated September 13, 2023.

Why It Matters

This filing provides a snapshot of Dawson Geophysical's financial health, detailing its asset and liability structure as of mid-2024, which is crucial for investors and creditors to assess financial stability.

Risk Assessment

Risk Level: medium — The filing provides detailed financial figures, but without comparative periods or management's discussion and analysis, a full risk assessment is limited.

Key Numbers

• $309.07M — Total Assets (As of June 30, 2024)
• $30.81M — Total Liabilities (As of June 30, 2024)

Key Players & Entities

• Dawson Geophysical Co. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240813 (date) — Filing date
• 30906777 (dollar_amount) — Total assets as of June 30, 2024
• 30812329 (dollar_amount) — Total liabilities as of June 30, 2024
• 2023-09-13 (date) — Date of Asset Purchase Agreement

FAQ

Key Financial Figures

• $0.01 — stered Trading Symbol Common Stock, $0.01 par value The NASDAQ Stock Market D

Filing Documents

• dwsn-20240630x10q.htm (10-Q) — 1821KB
• dwsn-20240630xex31d1.htm (EX-31.1) — 14KB
• dwsn-20240630xex31d2.htm (EX-31.2) — 15KB
• dwsn-20240630xex32d1.htm (EX-32.1) — 7KB
• dwsn-20240630xex32d2.htm (EX-32.2) — 7KB
• 0001558370-24-012071.txt ( ) — 7716KB
• dwsn-20240630.xsd (EX-101.SCH) — 38KB
• dwsn-20240630_cal.xml (EX-101.CAL) — 60KB
• dwsn-20240630_def.xml (EX-101.DEF) — 198KB
• dwsn-20240630_lab.xml (EX-101.LAB) — 357KB
• dwsn-20240630_pre.xml (EX-101.PRE) — 271KB
• dwsn-20240630x10q_htm.xml (XML) — 1628KB

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION 3

Financial Statements

Item 1. Financial Statements 3 Condensed Consolidated Balance Sheets at June 30, 2024 and December 31, 2023 (unaudited) 3 Condensed Consolidated Statements of Operations and Comprehensive Income/Loss for the Three and Six Months Ended June 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 (unaudited) 6 Notes to Condensed Consolidated Financial Statements (unaudited) 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 16

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 21

Controls and Procedures

Item 4. Controls and Procedures 21

OTHER INFORMATION

Part II. OTHER INFORMATION 23

Legal Proceedings

Item 1. Legal Proceedings 23

Risk Factors

Item 1A. Risk Factors 23

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 23

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 23

Other Information

Item 5. Other Information 23

Exhibits

Item 6. Exhibits 24

Signatures

Signatures 25 2 Table of Contents

FINANCIAL INFORMATIO N

PART I. FINANCIAL INFORMATIO N

FINANCIAL STATEMENT S (UNAUDITED)

ITEM 1. FINANCIAL STATEMENT S (UNAUDITED) DAWSON GEOPHYSICAL COMPANY CONDENSED CONSOLIDATED BALANCE SHEET S (unaudited and amounts in thousands, except share data) June 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 11,158 $ 10,772 Restricted cash — 5,000 Short-term investments 265 265 Accounts receivable, net 4,424 12,735 Prepaid expenses and other current assets 7,079 8,654 Total current assets 22,926 37,426 Property and equipment, net 15,082 16,508 Right-of-use assets 2,620 3,208 Intangibles, net 365 377 Total assets $ 40,993 $ 57,519 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 3,400 $ 3,883 Accrued liabilities: Payroll costs and other taxes 2,249 3,415 Other 759 709 Deferred revenue 5,709 11,829 Current maturities of notes payable and finance leases 740 1,380 Current maturities of operating lease liabilities 1,064 1,202 Total current liabilities 13,921 22,418 Long-term liabilities: Notes payable and finance leases, net of current maturities 1,408 1,289 Operating lease liabilities, net of current maturities 1,862 2,363 Deferred tax liabilities, net 15 15 Total long-term liabilities 3,285 3,667 Commitments and contingencies — — Stockholders' equity: Preferred stock-par value $ 1.00 per share; 4,000,000 shares authorized, none outstanding — — Common stock-par value $ 0.01 per share; 35,000,000 shares authorized, 30,906,777 and 30,812,329 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 309 308 Additional paid-in capital 156,860 156,678 Accumulated deficit ( 131,200 ) ( 123,640 ) Accumulated other comprehensive loss, net ( 2,182 ) ( 1,912 ) Total stockholders' equity 23,787 31,434 Total liabilities and stockholders' equity $ 40,993 $ 57,519 See accompanying notes to the condensed consoli

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