Pulse Seismic (PSD) Q3 2026 earnings summary

Executive summary

• Q3 2026 revenue was $17.308M, net earnings $11.354M, EBITDA $14.747M and shareholder free cash flow (SFCF) $11.485M; Q3 2025 recorded a net loss and $0.571M SFCF.

• Strong Q3 licensing activity, disciplined costs and a debt-free balance sheet supported results; industry indicators pointed to potential seismic-data demand.

• The data-library licensing model has low incremental costs, while annual sales fluctuate with customer activity and corporate transactions.

Financial highlights

• Q3 revenue was $17.308M versus $3.416M in Q3 2025; 9M revenue was $22.765M versus $44.491M.

• Q3 net earnings were $11.354M, or $0.22/share, versus a $1.500M loss, or $0.03/share; 9M earnings were $11.549M versus $21.440M.

• Q3 EBITDA was $14.747M, or $0.29/share, versus $0.744M; 9M EBITDA was $15.290M versus $36.030M.

• Q3 SFCF was $11.485M, or $0.23/share, versus $0.571M; 9M SFCF was $12.545M versus $27.723M.

• Operating cash flow was $1.286M in Q3 versus $1.271M; 9M cash used was $3.050M versus $30.429M provided in 9M 2025.

Outlook and guidance

• Improving policy certainty, infrastructure expansion, stronger upstream activity and global capital interest support a more favorable Western Canada exploration and development environment.

• E&P activity and production expansion can support seismic-data demand for drilling, development planning and reserves estimation; potential sales drivers include LNG projects and M&A-related relicensing.

• Revenue visibility remains inherently poor; no specific financial goals or guidance are issued. Increased sales are expected to carry minimal incremental costs under the low-cost model.