Pulse Seismic Inc. (TSX: PSD, OTCQX: PLSDF) is making waves in the seismic data industry after announcing a $9.8 million (CAD $13.5 million) seismic data license sale, a move that’s set to boost its revenue for the second quarter of 2025. The Calgary-based company, which specializes in seismic data for energy exploration in Western Canada, has also provided an early look at its financial performance for the year so far.
The seismic data license sale is a notable transaction for Pulse, which owns the largest licensable seismic data library in Canada. This deal is part of a broader trend Pulse is seeing in 2025: increased demand from exploration and development companies that rely on high-quality seismic data to guide their decisions in the Western Canada Sedimentary Basin.
With this latest transaction, Pulse’s preliminary revenue for the second quarter now stands at about $12.5 million (CAD $17.2 million). Year-to-date, the company has generated $29.1 million (CAD $40.0 million) in licensing revenue, a 66% jump compared to the average annual revenue over the past three years. These figures, while still subject to audit, suggest that Pulse’s business model is resonating with customers in a market where data-driven decisions are more important than ever.
Pulse’s strong financial performance has translated into tangible benefits for shareholders. Earlier this year, the company increased its regular quarterly dividend by 17%, bringing the annualized payout to $0.05 (CAD $0.07) per share. With roughly 50.8 million shares outstanding, that’s an annual distribution of about $2.6 million (CAD $3.6 million).
So far in 2025, Pulse has declared and paid total dividends of $0.17 (CAD 0.2325) per share, including two regular quarterly dividends and a special dividend of $0.15 (CAD 0.20) per share. In total, shareholders have received $8.6 million (CAD 11.8 million) in dividends this year.
Seismic data sales can fluctuate significantly from quarter to quarter, a reality Pulse acknowledges. The company’s approach has been to maintain a strong balance sheet and a low-cost operating structure, which helps it weather the ups and downs of the industry. This focus on efficiency and customer service has allowed Pulse to continue generating strong EBITDA margins and free cash flow, even as the market evolves.
Pulse’s President and CEO, Neal Coleman, commented that the latest license sale is a testament to the company’s ongoing execution of its strategy and the strength of its business model. He pointed out that Pulse’s financial outlook remains favorable, supported by its operating discipline and the essential nature of its data for the energy sector.
Pulse’s data library now includes approximately 65,310 square kilometers of 3D seismic data and 829,207 kilometers of 2D seismic data, making it a crucial resource for companies operating in one of the world’s most active oil and gas regions. As exploration and development activities continue to require more sophisticated data, Pulse’s role as a provider of high-quality seismic information looks set to remain central to the industry.
