Pulse Seismic Inc. (“Pulse” or the “Company”) is pleased to announce the sale of a significant seismic data license, valued at $13.5 million.
On a preliminary basis, second quarter revenue to date approximates $17.2 million, including the license announced today. This brings year-to-date total licensing revenue to $40.0 million, reflecting an increase of 66% compared to the last three years average annual revenue.
“I am pleased to announce this seismic data license sale,” stated Neal Coleman, Pulse’s President and CEO. “The sale delivers a strong contribution to the Company’s financial performance, particularly in terms of EBITDA and shareholder free cash flow. Our favourable financial outlook is underpinned by the Company’s low-cost operating structure and strong EBITDA margin generation,” he added. “The Company’s year-to-date performance reflects the continued execution of our strategic vision and highlights the strength of our business model which continues to position us for sustained value creation for our stakeholders,” concluded Coleman.
The Company’s regular quarterly dividend was increased by 17% in the first quarter of 2025. This increase brings the annualized dividend to $0.07 per share, representing an estimated annual distribution to shareholders of approximately $3.6 million, based on the 50,755,057 common shares currently outstanding. Year-to-date, the Company has declared and paid total dividends of $0.2325 per share, including two regular quarterly dividends and a special dividend of $0.20 per share. The total return of capital to shareholders through dividends paid to date in 2025 is $11.8 million.
These figures are preliminary and have not yet been audited or reviewed by our auditors. The Company will release its second quarter 2025 financial results on July 22, 2025, after markets close.
Pulse’s data library provides extensive seismic coverage critical for today’s data focused exploration and development companies throughout Western Canada. Significant quarterly and annual fluctuations in data sales are intrinsic to the seismic data library business. The Company remains focused on maintaining a strong balance sheet, a low-cost structure and providing excellent customer care.