- Pulse Seismic Inc. (PLSDF, Financial) reported a significant increase in Q1 2025 revenue to $22.8 million, up from $8.8 million in Q1 2024.
- The company's regular quarterly dividend increased by 17% to $0.0175 per share.
- Strong financial performance with EBITDA of $20.0 million and net earnings of $13.4 million for Q1 2025.
Pulse Seismic Inc. (PLSDF) has announced strong financial results for Q1 2025, reporting a total revenue of $22.8 million, a substantial rise from the $8.8 million achieved in the same quarter of the previous year. This quarter's revenue represents approximately 97% of the total revenue recorded for the entire year of 2024.
In a strategic move to return value to shareholders, the company increased its regular quarterly dividend by 17% to $0.0175 per share, effectively raising the annual dividend from $0.06 to $0.07 per share. This decision reflects the company's robust financial health and commitment to rewarding investors.
Key financial metrics for Q1 2025 include an EBITDA of $20.0 million and net earnings of $13.4 million ($0.26 per share). The company ended the quarter with $14.3 million in cash and $14.2 million in working capital, illustrating a strong balance sheet and liquidity position.
During the first quarter, Pulse also renewed its Normal Course Issuer Bid (NCIB) and purchased and cancelled 43,300 shares at an average price of $2.43 per share, amounting to a total cost of approximately $106,000. The strategic repurchase underscores the company's focus on enhancing shareholder value.
As the owner of the largest licensable seismic data library in Canada, Pulse Seismic Inc. continues to lead the market with its extensive seismic data coverage, encompassing 65,310 square kilometres of 3D seismic and 829,207 kilometres of 2D seismic data. This expansive library supports the Canadian oil and gas industry's exploration and development activities.
