CALGARY, Alberta, July 28, 2026 (GLOBE NEWSWIRE) -- Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) (“Pulse” or the “Company”) reported 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.

Pulse’s Board of Directors declared a regular quarterly dividend of $0.01875 per common share. Based on Pulse’s 50,714,857 common shares outstanding as of July 28, 2026, the dividend totals approximately $951,000 and will be paid on August 25, 2026, to shareholders of record on August 11, 2026. The 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,” said 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,” Coleman said.

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. That raised 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 were $951,000, or $0.01875 per share. For the first half of 2026, total dividends declared and paid were $6.9 million, or $0.13625 per share, including two regular quarterly dividends and one special dividend.

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

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

EBITDA for the second quarter of 2026 was $2.0 million, or $0.04 per share on a basic and diluted basis, compared with $15.2 million, or $0.30 per share, in the same period of 2025. For the first half of 2026, EBITDA was $543,000, compared with $35.3 million in 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 manage periods of revenue fluctuations.

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

Net earnings for the second quarter of 2026 were $1.6 million, or $0.03 per share basic and diluted, compared with $9.6 million, or $0.19 per share, in the same period of 2025. For the first half of 2026, net earnings were $195,000, compared with $22.9 million, or $0.45 per share basic and diluted, a year earlier.

Trailing twelve-month EBITDA at the end of the first half of 2026 was $6.1 million, compared with $40.1 million in the same period of the prior year.

Outlook

Pulse said its business and financial outlook is affected by a range of historically volatile factors. Relevant industry indicators include land sales in Western Canada, drilling forecasts, commodity prices, M&A forecasts and infrastructure improvements. Because seismic library licensing tends to move with exploration budgets and transaction activity, these indicators matter to Pulse’s revenue visibility. The Company also cited ongoing federal energy and environmental policy constraints, infrastructure constraints, global geopolitical tensions, U.S.-Canada trade policy and instability in the Middle East as additional sources of risk and uncertainty.

Alberta land sales in the first half of 2026 reached $162.5 million, up 53% from $106 million in the prior year.

Drilling activity is outpacing early-year forecasts. The Canadian Association of Energy Contractors projected 5,709 wells for 2026, a 3% increase, and has since reported that year-to-date activity is very strong, supported by higher oil prices and improved policy sentiment.

Pipeline capacity is also expanding. The TMX pipeline expansion reached its full 890,000 bpd capacity by the second quarter of 2026, reflecting sustained demand for Canadian crude.

LNG exports continue to scale. LNG Canada has been operational for more than a year and reached full capacity through 2026, adding to Canadian energy exports.

M&A remains active. While 2026 forecasts of $15 billion are below the $31.2 billion seen in 2025, activity has already surpassed projections, with sources indicating continued momentum.

The Company said it faces inherent uncertainty in seismic data library sales visibility. However, Pulse said it is positioned to manage varying market conditions through a strong balance sheet with no debt, experienced management and a disciplined low-cost operating model. It said these factors, together with high EBITDA leverage to revenue growth and prudent capital management, support consistent shareholder returns through regular and special dividends.

Corporate Profile

Pulse is a market leader in the acquisition, marketing and licensing of 2D and 3D seismic data to the western Canadian energy sector. The Company owns the largest licensable seismic data library in Canada, consisting of approximately 65,310 square kilometres of 3D seismic and 829,207 kilometres of 2D seismic. The library extensively covers the Western Canada Sedimentary Basin, where most of Canada’s oil and natural gas exploration and development take place.

For further information, please contact Neal Coleman, President and CEO, or Pamela Wicks, Vice President Finance and CFO, at 403-237-5559 or toll-free at 1-877-460-5559, or by email at [email protected]. More information is available at www.pulseseismic.com.

This document contains forward-looking information or forward-looking statements within the meaning of applicable securities legislation. The Outlook section includes forward-looking information regarding the Company’s outlook for the year ahead, future operating costs and expected revenues, political, economic, regulatory and legal developments affecting the industry, capital resources, capital allocation strategy, dividend policy, oil and natural gas prices and trends, drilling activity, land sales activity, company capital budgets, future demand for seismic data, future seismic data sales, business and growth strategy, and other expectations, beliefs, plans, goals, objectives, assumptions and statements about possible future events, conditions, results and performance.

Pulse said forward-looking information involves inherent risks and uncertainties and that actual results may differ materially from those expressed or implied. The Company said it does not publish specific financial goals or provide guidance because of the inherently limited visibility of seismic revenue. Factors that could cause results to differ include uncertainty in the timing and volume of data sales, volatility in oil and natural gas prices, risks associated with the oil and natural gas industry, access to debt and equity capital, credit and liquidity risks, demand for seismic data, pricing of data library licence sales, cybersecurity, relicensing fees and partner copy sales, environmental, health and safety risks, government laws and regulations, competition, dependence on key personnel, loss of seismic data, intellectual property protection, new products and climate change.

Pulse said this list is not exhaustive and referred readers to its public filings on SEDAR+ at www.sedarplus.ca for additional information on risks and other factors that could affect its operations and financial results. The Company said the forward-looking information is provided as of the date of the document and that it does not undertake any obligation to update it publicly, except as required by law. The forward-looking information is provided for the limited purpose of enabling current and potential investors to evaluate an investment in Pulse.