Geodrill (GEO) Q2 2025 earnings summary

Executive summary

• Achieved record quarterly revenue of $50.4 million in Q2 2025, surpassing previous highs and entering the $50 million range for the first time.

• Delivered record EBITDA of $13.9 million (28% of revenue), a 31% increase from Q2 2024.

• Net income rose to $5.3 million ($0.11 per share), up from $4.8 million ($0.10 per share) in Q2 2024.

• Total shareholder equity exceeded $130 million, reflecting strong operational and financial momentum.

• Expanded rig fleet to 99, including 5 new rigs in Chile for a major contract.

Financial highlights

• Q2 2025 revenue was $50.4 million, up 22% year-over-year from $41.2 million in Q2 2024.

• Gross profit for Q2 2025 was $11.9 million (24% margin), down from $12.7 million (31% margin) in Q2 2024.

• EBITDA for Q2 2025 was $13.9 million (28% margin), up from $10.7 million (26% margin) in Q2 2024.

• Net income for Q2 2025 was $5.3 million, up from $4.8 million in Q2 2024; EPS was $0.11 vs $0.10.

• Reported a $1.6 million gain from listed equity investments in Q2 2025.

Outlook and guidance

• Industry outlook remains strong with high confidence, supported by robust gold and copper prices.

• Bidding pipeline is healthy, with full utilization of new rigs in South America expected by late September or early October.

• Management is comfortable with analyst forecasts for the year and expects to maintain around 100 rigs by year-end.

• Decision on potential dividend to be revisited in Q4, with current focus on reinvesting cash flow into growth.