Company: DWSN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001104659-25-111340
Chunk: 1

Company: DAWSON GEOPHYSICAL CO
Filing Date: 2025-11-13
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)

​​​​​​​​​    September 30, ​December 31, ​​2025​2024​Assets​​​​​​​Current assets:​​​​​​​Cash and cash equivalents​$5,081​$1,385​Accounts receivable, net ​​2,171​ 9,970​Prepaid expenses and other current assets​​5,934​​3,186​Total current assets​ 13,186​ 14,541​​​​​​​​​Property and equipment​​250,374​​238,064​Less accumulated depreciation​​(226,553)​​(225,085)​Property and equipment, net​​23,821​​12,979​​​​​​​​​Operating lease right-of-use assets​​3,209​​3,002​​​​​​​​​Intangibles, net​​359​​348​​​​​​​​​Total assets​$40,575​$30,870​​​​​​​​​Liabilities and Stockholders' Equity​​​​​​​Current liabilities:​​​​​​​Accounts payable​$5,698​$3,381​Accrued liabilities:​ ​​ ​​Payroll costs and other taxes​ 1,403​​2,014​Other​ 1,052​​830​Deferred revenue​ 3,709​​1,570​Current maturities of notes payable and finance leases​ 3,598​​1,010​Current maturities of operating lease liabilities​​1,075​​1,125​Total current liabilities​ 16,535​ 9,930​​​​​​​​​Long-term liabilities:​ ​​ ​​Notes payable and finance leases, net of current maturities​ 6,545​​1,512​Operating lease liabilities, net of current maturities​​2,290​​2,131​Deferred tax liabilities, net​​16​​16​Total long-term liabilities​ 8,851​ 3,659​​​​​​​​​Commitments and contingencies (Note 8)​​​​​​​​​​​​​​​Stockholders’ equity:​​​​​​​Preferred stock-par value $1.00 per share; 4,000,000 shares authorized, none outstanding​ —​ —​