Earnings call transcript: Geodrill tops Q3 2026 estimates as revenue jumps 41%

Geodrill delivered stronger-than-anticipated Q3 2026 results, with earnings of $0.02 per share and revenue of $55.1 million, surpassing analysts' expectations. The stock rose 8.39% in pre-market trading following the revenue beat and improved margins. The company reported its second consecutive quarter with about $55 million in revenue, a rare occurrence due to the typically slow West African rainy season.

Revenue grew 41% year-over-year, while net income improved to $900,000 from a loss of $1.5 million a year earlier. Gross profit jumped to $10.2 million, and EBITDA doubled to $8.7 million. Geodrill attributed its success to gold prices, strong drilling demand, and a global rig shortage. The company's performance marked a turnaround after a challenging period, driven by higher utilization and better contract economics.

Investors welcomed the revenue beat, margin expansion, and return to profit, with the stock trading above its 52-week low and reflecting a 72% year-to-date gain.