Pulse Seismic (PSD) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue totaled $5.5MM, with EBITDA at $543,000 and shareholder free cash flow at $1.1MM.

• Q2 2026 saw a significant slowdown in data licensing revenue, reflecting natural market variability after a strong prior year.

• The company maintains a high EBITDA margin, averaging 76% over the last five years (2021–2025).

• Regular quarterly dividends were increased and paid, with a special dividend also distributed in Q2 2026.

• The seismic data library remains the largest in Canada, with 65,310 sq. km of 3D and 829,207 km of 2D seismic data.

Financial highlights

• Q2 2026 revenue was $5.5MM; EBITDA: $543,000; shareholder free cash flow: $1.1MM.

• Q2 2026 revenue was down from $18.3MM in Q2 2025; H1 2026 revenue was $5.5MM, down from $41.1MM year-over-year.

• Working capital at quarter-end was $10.6MM; cash balance at June 30, 2026 was $8.4MM, with $5.0MM available on the credit facility.

• Over $178.7MM paid in dividends and $53.1MM in share repurchases since 2003.

• Regular quarterly dividend increased by 7% to $0.01875 per share; total H1 2026 dividends declared and paid were $6.9MM.

Outlook and guidance

• Positioned for volatility in commodity prices and annual revenue fluctuations.

• New pipeline capacity in 2024–2025 and LNG Canada reaching full capacity are supporting higher commodity prices and production.

• Alberta land sales rose 53% year-over-year to $162.5MM in H1 2026; drilling activity is exceeding forecasts.

• M&A activity remains robust, surpassing 2026 projections despite lower forecasted totals.

• Anticipates transaction-based data sales from industry M&A activity and licensing to new energy sectors.