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Electromagnetic Geoservices (EMGS) investor relations material

Electromagnetic Geoservices Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary12 Aug, 2025

Executive summary

  • Q2 2025 revenue was $9.6 million, mainly from Indian proprietary contracts, with the Atlantic Guardian completing two surveys in India and beginning a multi-client campaign in Norway.

  • Net income for Q2 2025 was $0.5 million, down from $3.7 million in Q2 2024.

  • The company is reviewing its operational model and working to close the Siem Day vessel acquisition.

  • Vessel utilization was 44% during the quarter, with one vessel on charter and 24% of the period spent in global transit.

  • Continued progress on the Siem Day transaction and CMD transaction, with efforts ongoing to close.

Financial highlights

  • Q2 2025 revenue: $9.6 million, with $9.4 million from contracts and $0.2 million from late sales.

  • EBITDA: $2.8 million; adjusted EBITDA: $2.1 million.

  • Operating profit for Q2 2025 was $1.2 million, down from $5.1 million in Q2 2024.

  • Operational cost base: $7.5 million, down from $8 million in Q1.

  • Free cash decreased by $2.5 million to $3.5 million at quarter end.

Outlook and guidance

  • Multi-client campaign in Norway expected to complete within Q3 2025, targeting APA licensing round awards in January 2026, with $3.5 million secured prefunding.

  • The company is optimizing its operational model to reduce costs during idle periods and align spending with market demand.

  • Good potential for future late sales from pre-funded surveys.

  • Efforts continue to finalize the Siem Day vessel transaction.

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Frequently asked questions

Electromagnetic Geoservices ASA provides geophysical services to the offshore oil and gas exploration industry. The company specializes in electromagnetic (EM) surveying technology, specifically Controlled-Source Electromagnetic (CSEM) and magnetotelluric (MT) methods, to map and analyze subsurface resistivity. This data aids in identifying and assessing offshore hydrocarbon reservoirs. EMGS offers services ranging from survey design and data acquisition to processing, modeling, and interpretation of EM data. The company is headquartered in Oslo, Norway, and its shares are listed on the Oslo Stock Exchange.

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