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Visual21 Nov 2025
Data center suppliers
Geodrill (GEO) investor relations material
Geodrill Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Q3 2025 revenue increased 14% year-over-year to GHS 39 million ($39.0M), driven by South American expansion and strong West African demand.
Gross profit declined to GHS 2.4 million ($2.4M) from GHS 8.4 million ($8.4M) in Q3 2024, reflecting operational challenges and cost absorption from expansion.
EBITDA was GHS 4.3 million ($4.3M, 11% margin), down from GHS 7.6 million ($7.6M, 22% margin) in Q3 2024; net loss of GHS 1.5 million ($1.5M) compared to net income of GHS 2.6 million ($2.6M) last year.
Multi-year, multi-rig contracts and an active bidding pipeline support future growth and resilience.
Achieved 7.8 million man-hours without lost time injury, reflecting strong safety performance.
Financial highlights
Q3 2025 revenue: GHS 39 million ($38.97M) vs. GHS 34.1 million ($34.09M) in Q3 2024; nine-month revenue: $138.07M vs. $109.94M year-over-year.
Gross profit: GHS 2.4 million ($2.36M, 6% margin) vs. GHS 8.4 million ($8.35M, 24% margin) in Q3 2024.
EBITDA: GHS 4.3 million ($4.26M, 11% margin) vs. GHS 7.6 million ($7.63M, 22% margin) in Q3 2024.
Net loss: GHS 1.5 million ($1.51M, GHS 0.03/share) vs. net income of GHS 2.6 million ($2.61M, $0.06/share) in Q3 2024.
Favorable impacts included a GHS 100,000 ($0.1M) credit recovery, GHS 800,000 ($0.8M) FX gain, and GHS 1.8 million ($1.8M) gain on equity investments.
Outlook and guidance
Q4 expected to show improvements in Ghana, Côte d'Ivoire, Senegal, Egypt, and South America as operational challenges subside and new projects ramp up.
Utilization rates are trending upward, expected to reach 75% in Q4 and potentially above 80% in Q1 and Q2 next year.
Management anticipates margin recovery and improved returns as upfront costs in South America are absorbed and rigs become fully operational.
Drilling services demand remains strong, supported by high gold and copper prices.
Active bidding pipeline and new contracts in advanced stages indicate continued growth opportunities.
South America: Path to sustained profitability
Ghana cedi and wage inflation mitigation plans
Capital allocation for growing cash balance
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Frequently asked questions
Geodrill Limited is an exploration drilling company that provides a range of drilling services primarily to mining companies. The company's service offerings include reverse circulation, diamond core, air-core, deep directional Navi drilling, water borehole, and underground drilling. Geodrill operates a modern fleet of approximately 90 drill rigs across Africa and South America, covering countries such as Ghana, Côte d'Ivoire, Mali, Egypt, Peru, and Chile. Geodrill is headquartered in Douglas, Isle of Man, and its shares are listed on the Toronto Stock Exchange.
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