Dawson Geophysical Q3 2024: Debt and Equity Shifts

TL;DR

Dawson Geophysical's Q3 shows $30.8M current debt, $30.9M total debt. Equity accounts also shifted.

AI Summary

Dawson Geophysical Co. reported its Q3 2024 results, ending September 30, 2024. The company's financial statements show significant changes in long-term debt and capital lease obligations, with current long-term debt at $30.81 million and total long-term debt at $30.91 million. Key equity accounts like Additional Paid-In Capital and Retained Earnings also saw movements during the period.

Why It Matters

Changes in long-term debt and equity can indicate the company's financial health and its ability to fund operations or expansion, impacting investor confidence.

Risk Assessment

Risk Level: medium — Fluctuations in debt and equity can signal financial leverage and operational changes that warrant closer examination.

Key Numbers

• $30.91B — Total Long-Term Debt (Represents the company's total outstanding long-term debt obligations as of Q3 2024.)
• $30.81B — Current Long-Term Debt (Indicates the portion of long-term debt due within the next year as of Q3 2024.)

Key Players & Entities

• Dawson Geophysical Co. (company) — Filer of the 10-Q report
• 30906777 (dollar_amount) — Total long-term debt and capital lease obligations as of September 30, 2024
• 30812329 (dollar_amount) — Current portion of long-term debt and capital lease obligations as of September 30, 2024
• 20240930 (date) — End of the reporting period (Q3 2024)
• 20241113 (date) — Filing date of the 10-Q

FAQ

Key Financial Figures

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

Filing Documents

• dwsn-20240930x10q.htm (10-Q) — 1886KB
• dwsn-20240930xex31d1.htm (EX-31.1) — 14KB
• dwsn-20240930xex31d2.htm (EX-31.2) — 15KB
• dwsn-20240930xex32d1.htm (EX-32.1) — 7KB
• dwsn-20240930xex32d2.htm (EX-32.2) — 7KB
• 0001558370-24-015542.txt ( ) — 7837KB
• dwsn-20240930.xsd (EX-101.SCH) — 39KB
• dwsn-20240930_cal.xml (EX-101.CAL) — 59KB
• dwsn-20240930_def.xml (EX-101.DEF) — 194KB
• dwsn-20240930_lab.xml (EX-101.LAB) — 356KB
• dwsn-20240930_pre.xml (EX-101.PRE) — 270KB
• dwsn-20240930x10q_htm.xml (XML) — 1645KB

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION 3

Financial Statements

Item 1. Financial Statements 3 Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 (unaudited) 3 Condensed Consolidated Statements of Operations and Comprehensive Income/Loss for the Three and Nine Months Ended September 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 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 22

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) September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 6,980 $ 10,772 Restricted cash — 5,000 Short-term investments — 265 Accounts receivable, net 2,788 12,735 Prepaid expenses and other current assets 3,411 8,654 Total current assets 13,179 37,426 Property and equipment, net 14,284 16,508 Right-of-use assets 2,348 3,208 Intangibles, net 370 377 Total assets $ 30,181 $ 57,519 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 3,424 $ 3,883 Accrued liabilities: Payroll costs and other taxes 1,954 3,415 Other 992 709 Deferred revenue 691 11,829 Current maturities of notes payable and finance leases 704 1,380 Current maturities of operating lease liabilities 1,005 1,202 Total current liabilities 8,770 22,418 Long-term liabilities: Notes payable and finance leases, net of current maturities 1,531 1,289 Operating lease liabilities, net of current maturities 1,621 2,363 Deferred tax liabilities, net 15 15 Total long-term liabilities 3,167 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 September 30, 2024 and December 31, 2023, respectively 309 308 Additional paid-in capital 156,905 156,678 Accumulated deficit ( 136,817 ) ( 123,640 ) Accumulated other comprehensive loss, net ( 2,153 ) ( 1,912 ) Total stockholders' equity 18,244 31,434 Total liabilities and stockholders' equity $ 30,181 $ 57,519 See accompanying notes to the condensed cons

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