GEODRILL REPORTS 2025 FOURTH QUARTER AND YEAR END FINANCIAL RESULTS

Executive Summary

• Geodrill reported record FY 2025 revenue of US$184.9 M, a 29% increase year‑over‑year, driven by strong drilling demand in West Africa and expanding operations.
• Despite higher revenue, the company posted a net loss of $(1.9) M for the year (loss per share $(0.03)) due to an $8.4 M tax charge and margin pressures; EBITDA was US$35.2 M (19% of revenue).
• Management highlighted a robust pipeline of new contracts worth ~US$150 M, fleet expansion to 100 rigs, and geographic growth into Egypt, South America (Chile) and Saudi Arabia, underpinning confidence in FY 2026 outlook.

Key Details

• Revenue: $184.9 M (FY 2025) vs. $143.1 M (FY 2024); Q4 2025 $46.8 M vs. Q4 2024 $33.1 M.
• Gross Profit: $33.4 M (FY 2025) vs. $34.7 M (FY 2024); margin fell to 18% from 24%.
• EBITDA: $35.2 M FY 2025 (19% margin) up from $31.1 M FY 2024 (22% margin).
• Net Income/Loss: $(1.9) M FY 2025 (loss per share $(0.03)); prior year profit $9.1 M. Loss driven by $8.4 M tax expense incurred in Q4 2025.
• Cash Position: Year‑end cash of $7.8 M (excluding right‑of‑use liabilities).
• Share Repurchases: 91,700 shares repurchased during FY 2025; additional 55,800 shares after year‑end.
• Fleet Size: 100 rigs at fiscal year end, including an increase in Chilean fleet to 18 rigs (from 8).
• Contract Wins: $150 M of long‑term contracts newly secured for the next three years.
• Geographic Footprint: Continued presence in Ghana, Côte d’Ivoire, Senegal; expansion activities in Egypt, South America (Chile focus), and plans to enter Saudi Arabia.
• Outlook FY 2026: Anticipates sustained high rig utilization supported by strong gold and copper prices; expects incremental revenue visibility from new tenders and contract awards.

Notable Quotes

• “Geodrill delivered its strongest revenue performance to date… we remain confident in the underlying strength of our operations.” – Greg Borsk, CFO
• “With demand strengthening across all our key regions… we are confident in our ability to translate these opportunities into meaningful value creation.” – Dave Harper, President & CEO