Company: DWSN
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001558370-25-007774
Chunk: 1

Company: DAWSON GEOPHYSICAL CO
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1F
Chunk 1
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ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)

DAWSON GEOPHYSICAL COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited and amounts in thousands, except share data)

​​​​​​​​​    March 31, ​December 31, ​​2025​2024​Assets​​​​​​​Current assets:​​​​​​​Cash and cash equivalents​$2,665​$1,385​Accounts receivable, net ​​11,031​ 9,970​Prepaid expenses and other current assets​​4,770​​3,186​Total current assets​ 18,466​ 14,541​​​​​​​​​Property and equipment​​236,132​​238,064​Less accumulated depreciation​​(224,420)​​(225,085)​Property and equipment, net​​11,712​​12,979​​​​​​​​​Operating lease right-of-use assets​​2,752​​3,002​​​​​​​​​Intangibles, net​​347​​348​​​​​​​​​Total assets​$33,277​$30,870​​​​​​​​​Liabilities and Stockholders' Equity​​​​​​​Current liabilities:​​​​​​​Accounts payable​$3,895​$3,381​Accrued liabilities:​ ​​ ​​Payroll costs and other taxes​ 1,647​​2,014​Other​ 1,088​​830​Deferred revenue​ 1,723​​1,570​Current maturities of notes payable and finance leases​ 2,310​​1,010​Current maturities of operating lease liabilities​​1,146​​1,125​Total current liabilities​ 11,809​ 9,930​​​​​​​​​Long-term liabilities:​ ​​ ​​Notes payable and finance leases, net of current maturities​ 1,327​​1,512​Operating lease liabilities, net of current maturities​​1,838​​2,131​Deferred tax liabilities, net​​16​​16​Total long-term liabilities​ 3,181​ 3,659​​​​​​​​​Commitments and contingencies​​—​​—​​​​​​​​​Stockholders’ equity:​​​​​​​Preferred stock-par value $1.00 per share; 4,000,000 shares authorized, none outstanding​ —​ —​Common stock-par value