Start here if you're new
what it is
It sends crews to map underground rock for oil and gas companies.
how it gets paid
Last year Dawson Geophysical made $74M in revenue. 2-D and 3-D seismic acquisition was the main engine at $26M, or 35% of sales.
what just happened
Dawson lost $0.08 per share in the latest quarter, with TTM revenue at $23M.
At a glance
C++ balance sheet — some cracks in the foundation
35/100 earnings predictability — expect surprises
-$0.13 fy2024 eps est
$74M fy2024 rev est
2.3% operating margin
xvary composite: 26/100 — weak
What they do
It sends crews to map underground rock for oil and gas companies.
Dawson had 233 employees and one mid-size crew in the lower 48. That is a narrow machine, not a giant contractor. When you need 2-D, 3-D, or CCUS monitoring, leaving is painful because the work is specialized and the data has to be right. CCUS monitoring means checking underground carbon storage sites. That gives you a second lane when oil work slows.
How they make money
$74M
annual revenue
2-D and 3-D seismic acquisition
$26M
18.5%
multi-component surveys
$19M
18.5%
CCUS seismic monitoring
$11M
+10.0%
data processing
$11M
0.0%
multi-client data libraries
$7M
0.0%
The products that matter
acquires onshore seismic data
Onshore Seismic Data Acquisition
$64.3M trailing revenue
It is the current business. The catch is the -5.15% profit margin, which means this revenue base still does not clear into net income.
core revenue
monitors carbon storage sites
Seismic Monitoring for CCUS
$24M contract
The August 2025 award is big next to a $64.3M trailing base. If it turns into repeat work, you get a second revenue lane beyond traditional exploration spending.
turnaround option
Key numbers
$74M
FY2024 sales
That is the annual sales estimate. On a $1.78 stock, the market is pricing a very small slice of revenue.
$9M
long debt
Debt is only $9M. That is small versus $74M of sales, but it still matters when demand swings.
0.5
beta
This stock moves about half as much as the market. That is unusual for a tiny energy name.
233
employees
A 233-person company can wobble fast when one crew is idle.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $9M (6% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for DWSN right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Dawson lost $0.08 per share in the latest quarter, with TTM revenue at $23M.
Revenue was down 10.17% vs. prior year on a $23M TTM base. That is a small business, so one weak job hits harder.
$23M
revenue
$0.08
eps
n/a
n/a
the number that mattered
The $23M revenue base mattered most, because a $23M business can change fast on one contract.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
The top risk is too little revenue spread across too much fixed field cost. In a $64.3M business with a -5.15% margin, you do not need many weak jobs for the whole year to wobble.
med
Exploration budgets still call the tune
You are tied to customer spending on seismic work. Trailing revenue already fell 22.3% from last year, which shows what happens when activity slows.
If customers cut field work again, Dawson has no margin cushion to absorb it.
med
The turnaround still has not reached profitability
Net income over the last 12 months was -$3.31M and profit margin was -5.15%. That means every growth story on this page still has to pass through basic math first.
Another stretch of losses would keep valuation anchored to hope, not earnings.
med
The CCUS angle is promising but still thin
The $24M contract matters because it is large next to the current revenue base. It does not prove a durable market by itself.
If follow-on work does not show up, the diversification case shrinks back to one contract.
You own a stock where lumpy contracts, negative margins, and low predictability all stack in the same direction.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings date
Q4 and full-year 2025 earnings
Scheduled for March 11, 2026. You want to see whether revenue can hold closer to the $74M estimate and whether losses narrow from here.
margin
Net margin back toward zero
The stock does not need perfect margins. It does need to stop losing 5 cents on every revenue dollar.
contract flow
Follow-on CCUS work after the $24M award
One job proves Dawson can win it. A second one would say more about whether you are looking at a repeatable lane.
balance sheet
Cash pressure before the story improves
C++ balance sheet grade and 5/100 price stability tell you this is not a stock with much patience built in.
Analyst rankings
earnings predictability
35 / 100
Low predictability. In human-speak, analysts do not trust this business to print similar quarters in a row.
price stability
5 / 100
This stock moves like a thin small cap with an uncertain earnings base, because that is what it is.
balance sheet grade
C++
Below average balance sheet quality. You are not paying for safety here.
source: institutional data
Institutional activity
institutional ownership data for DWSN is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$2
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive