Geodrill Q2 2026 revenue rises 10% to US$55.1 million as demand for gold drilling lifts activity

Reuters2026/08/09 22:29

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For Q2 2026, revenue rose 10% to US$ 55.1 million, driven by stronger demand for drilling services amid robust gold-led exploration spending.
Gross profit fell to US$ 8.8 million from US$ 11.9 million; margin narrowed to 16% from 24% on higher wages, inflation, cedi strength.
West Africa and Egypt generated all gross profit; profitability weakened as drilling shifted toward more core meters versus reverse circulation meters.
Chile posted a significant gross loss as cost of sales exceeded revenue, tied to onboarding delays and operational issues that reduced drilling time.
EBITDA dropped to US$ 7.9 million from US$ 13.9 million; the quarter swung to a net loss of US$ 193,000 from US$ 5.3 million profit.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Geodrill Ltd. published the original content used to generate this news brief on August 09, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Geodrill Q2 2026 revenue rises 10% to US$55.1 million as demand for gold drilling lifts activity

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