Pulse Seismic Inc. Reports Q2 2026 Financial Results and Declares Regular Quarterly Dividend

Pulse Seismic Inc. (“Pulse” or the “Company”) is pleased to report its financial and operating results for the three and six months ended June 30, 2026. The unaudited condensed consolidated interim financial statements, accompanying notes and MD&A are being filed on SEDAR+ ( www.sedarplus.ca ) and will be available on Pulse’s website at www.pulseseismic.com .

Today, Pulse’s Board of Directors declared a regular quarterly dividend of $0.01875 per common share. The total of the dividend will be approximately $951,000 based on Pulse’s 50,714,857 common shares outstanding as of July 28, 2026, to be paid on August 25, 2026, to shareholders of record on August 11, 2026. This dividend is designated as an eligible dividend for Canadian income tax purposes. For non-resident shareholders, Pulse’s dividends are subject to Canadian withholding tax.

“The moderate pace of data licensing in early 2026 follows a year of significant data deployment and reflects the natural variability in our market,” stated Neal Coleman, Pulse's President and CEO. “Our extensive library of licensable seismic data continues to serve as a cornerstone for our clients' exploration and development strategies. The timing and volume of new licensing naturally reflects broader energy sector activity and investment cycles. Pulse remains focused on disciplined capital returns, including our quarterly dividend, complemented by strategic special dividends as determined by our Board,” concluded Coleman.

HIGHLIGHTS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026

The regular quarterly dividend was increased by 7% to $0.01875 per share in the second quarter of 2026. This results in an increase in the annual regular dividend from $0.07 per share to $0.075 per share. Total dividends declared and paid in the second quarter of 2026 was $951,000 ($0.01875 per share). For the first half of 2026, total dividends declared and paid was $6.9 million ($0.13625 per share). This includes two regular quarterly dividends and one special dividend.

At June 30, 2026, the Company had a cash balance of $8.4 million as well as $5.0 million of available liquidity on its credit facility.

Total revenue for the second quarter of 2026 was $3.6 million, as compared to $18.3 million for the same period in 2025. Total revenue for the first half of 2026 was $5.5 million, as compared to $41.1 million last year.

EBITDA (a) for the second quarter of 2026 was $2.0 million ($0.04 per share basic and diluted), compared to $15.2 million ($0.30 per share basic and diluted) for the same period in 2025. For the first half of 2026, EBITDA (a) was $543,000 as compared to $35.3 million for the same period last year. Despite lower activity levels during the first half of 2026, the Company generated positive EBITDA, reflecting its disciplined cost structure and ability to effectively manage periods of revenue fluctuations.

Shareholder free cash flow (a) was $2.5 million ($0.05 per share basic and diluted) in the second quarter of 2026, as compared to $11.7 million ($0.23 per share basic and diluted) for the same period in 2025. For the first half of 2026, shareholder free cash flow (a) was $1.1 million ($0.02 per share basic and diluted) compared to $27.2 million ($0.53 per share basic and diluted) for the same period in 2025.

In the second quarter of 2026, the Company generated net earnings of $1.6 million ($0.03 per share basic and diluted), as compared to $9.6 million ($0.19 per share basic and diluted) for the same period in 2025. For the first half of 2026, net earnings were $195,000 compared to $22.9 million ($0.45 per share basic and diluted) for the same period last year.