- 2026 third-quarter results
- Solid cash generation and continued deleveraging
- Further evidence of commercial recovery
Viridien, an advanced technology, digital and Earth data company, has announced its third quarter results.
- Net Cash Flow of $35m in Q3, bringing 9M 2026 to $67m vs $62m in 9M 2025, supported by GEO’s performance and working-capital normalization
- Net debt (excluding IFRS 16) of $656m at end-September, down -18% year on year. A further partial early redemption of the euro-denominated tranche, making use of the 10% redemption provision included in the bond documentation, has been announced for November, reinforcing the Group’s deleveraging trajectory
- Geoscience returned to growth, with revenue of $112m, up +3% year on year and +17% sequentially, reflecting strong execution and backlog conversion. Commercial momentum remains healthy, supported by sustained customer engagement
- Earth Data revenue of $69m, down -49% year on year, reflecting a challenging comparison with Q3 2025, which benefited from exceptional transfer fees. Commercial momentum continues to build across frontier basins, while year-to-date E&P performance provides a supportive backdrop for Q4 revenue
- Sensing & Monitoring revenue of $57m, down -18% year on year, still negatively impacted by the ongoing conflict in the Middle East. An operational review is underway to further strengthen the business and position it to capture growth opportunities as market conditions recover
- Segment adjusted EBITDAs of $100m, down -40% year on year, largely due to the significant contribution from the exceptional transfer fees in Q3 2025
- FY 2026 Net Cash Flow objective of $100m reiterated
Henning Berg, CEO of Viridien: 'While market conditions remain uneven across our businesses, I am particularly pleased with Geoscience’s performance, which returned to growth as strong execution translated backlog into revenue. Solid cash generation over the period and continued deleveraging also underline our focus on further strengthening the Group’s financial position. Overall, sector sentiment continues to improve. Looking ahead, stronger customer engagement and sustained tendering activity reinforce our confidence in a more supportive market environment in Q4, with further momentum expected into 2027.'
Source: Viridien
