Electromagnetic Geoservices ('EMGS'), the marine EM market leader, has reported its fourth quarter 2024 results.
Summary:
- The Company recorded revenues of USD 9.7 million, up from USD 1.1 million in the fourth quarter of 2023.
- Adjusted EBITDA (including capitalised multi-client expenses and vessel and office lease expenses) of USD 7.9 million, up from negative USD 1.7 million in the fourth quarter of 2023.
- Free cash decreased with USD 4.1 million during the quarter, to USD 9.1 million.
