Economia
2025 third-quarter results Strong performance driving Net Cash Flow generation
Paris (France), October 30, 2025
2025 third-quarter results
Strong performance driving Net Cash Flow generation
Sophie Zurquiyah, Chair and CEO of Viridien: “Viridien delivered a strong third quarter, contributing to solid Net Cash Flow generation. Our main focus on major offshore projects and close collaboration with leading energy companies continue to drive our performance. More than ever, Viridien offers unique, high-value solutions for exploration and production, making us a strategic partner, less affected by market fluctuations. With a Net Cash Flow of $62 million at the end of September, we are confidently progressing toward our full-year target of $100 million and have initiated approximately $50 million in bond buybacks.”
KEY HIGHLIGHTS PER BUSINESS LINE
Data, Digital and Energy Transition (DDE)
Segment revenue at $244 m in Q3 2025, up +31% year-on-year, with strong Earth Data late sales.
Geoscience (GEO)
Earth Data (EDA)
Segment adjusted EBITDAs at $167 m, up +70% year-on-year, with a margin lifted to 70% vs 58% in Q3 2024 given the massive flow through of EDA’s late sales. EDA Cash EBITDA at $73 m vs -$13 m in Q3 2024.
Sensing and Monitoring (SMO)
Segment revenue at $69 m in Q3 2025, +16% increase year-on-year. Activity remains largely driven by the Land segment, with a mix of flagship high-productivity surveys ongoing in North America and medium-to-small crews ensuring business resilience across South America, the Middle East, and Asia.
Segment adjusted EBITDAs at $4 m, compared to $1 m in Q3 2024. Profitability benefited from the higher level of activity and a more streamlined cost structure resulting from the restructuring plan. Note that adverse foreign exchange effects from the depreciation of the U.S. dollar negatively impacted performance by approximately $3 million, as SMO bears most of its cost base in euros.
Segment adjusted operating income at -$2 m vs -$7m in Q3 2024. At constant exchange rates versus last year, operating income would have reached $1m, consistent with the objective of the past 24-month restructuring plan to reduce SMO’s break-even point to a run-rate of around $270m in annual revenue.
CONSOLIDATED IFRS FIGURES
Profit & Loss
Consolidated IFRS revenue for Q3 2025 came in at $266m, up +22% year-on-year. EBITDAs stood at $120m, up +70%.
IFRS Net Income reached $41m, vs -$10m in Q3 2024, after accounting notably for -$43 m of leases and D&A,
-$27m net cost of financial debt, and -$9m of income taxes.
Cash Flow and Net debt
Net Cash Flow of $53m generated in Q3 2025, bringing the cumulative figure at end-September to $62m. Performance was driven by Segment EBITDAs and disciplined capex, while the change in working capital continues to weigh on cash generation. The Group continues, in particular, to work actively on collecting overdue receivables from the Mexican National Oil Company, PEMEX.
Viridien continues to actively manage its liabilities in line with its commitments to deleverage the Group and optimize financing costs. In this context:
Both initiatives will further enhance the Group’s future Net Cash Flow and support its ongoing deleveraging trajectory. As of end-September 2025, Viridien maintained a strong liquidity position, including a $125m RCF .
OUTLOOK
Oil prices remain volatile, and short-term fluctuations could prompt some arbitrage or rescheduling of E&P investments should prices temporarily soften. However, exploration and seismic activities are expected to remain resilient, with potential spending cuts more likely to affect other parts of the value chain.
Exploration and seismic are supported by structurally positive fundamentals, as E&P operators increasingly recognize the risks to production sustainability in a context of accelerating field depletion and the need to secure long-term resource supply.
Building on its strong value proposition, extensive high-quality data library, solid track record, and robust backlog, Viridien looks ahead with confidence in its ability to sustain strong cash generation and advance its deleveraging objectives, starting with the delivery of its $100 million Net Cash Flow target in 2025.
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Q3 2025 conference call details
The press release and presentation will be made available on www.viridiengroup.com at 5:45 p.m. (CET).
An English-language conference call is scheduled today at 6:00 p.m. (CET).
Participants must register for the conference call by clicking here to receive a dial-in number and PIN code. Participants may also join the live webcast by clicking here.
A replay of the conference call will also be available, for a period of 12 months, on the Company's website www.viridiengroup.com.
Status of the statutory auditors’ procedures
The Board of Directors met on October 30, 2025, and closed the consolidated financial statements as of September 30, 2025. Please note that the figures and information published in this press release have not been audited nor subject to any limited review by Viridien’s statutory auditors.
Next financial information
2025 full-year results: February 26, 2026 (after market close)
About Viridien
Viridien ( www.viridiengroup.com ) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resources, digital, energy transition and infrastructure challenges. Viridien employs around 3,200 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).
Disclaimer
Certain information included in this press release is not historical data but forward-looking statements. These forward-looking statements are based on current beliefs and assumptions, including, but not limited to, assumptions about current and future business strategies and the environment in which Viridien operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results or performance, or the results or other events, to be materially different from those expressed or implied in such forward-looking statements. These risks and uncertainties include those discussed or identified in Chapter 2 "Risk Management and Internal Control" of the Universal Registration Document dated March 6, 2025, filed with the French Financial Markets Authority (AMF) under number D. 25-0075 and available on the Group's website (www.viridiengroup.com) and on the AMF website (www.amffrance.org). These forward-looking statements and information are not guarantees of future performance. Forward-looking statements speak only as of the date of this press release. This press release does not contain or constitute an offer of securities or an invitation or inducement to invest in securities in France, the United States, or any other area.
Investors contact
VP Investor Relations and Corporate Finance
Alexandre Leroy
alexandre.leroy@viridiengroup.com
+33 6 85 18 44 31
APPENDICES
Quarterly financial statements are unaudited and not subject to any review.
Key Segment P&L figures
Other KPIs
Definition of Alternative Performance Indicators (API)
In its communications, Viridien includes Alternative Performance Indicators, the main ones being Segment Revenue, Segment EBITDAs, Adjusted Segment EBITDAs, and EDA Cash EBITDA. Their definitions are set out in the 2024 Universal Registration Document filed with the French Financial Markets Authority (AMF) and are reiterated below:
Reconciliation of API with the condensed interim consolidated financial statements
The table below outlines the accounting adjustments made in accordance with IFRS 15 requirements. Over the period, these adjustments primarily relate to major survey projects conducted by Earth Data in the US Gulf and Norway.
Interim Consolidated Statement of Operations
Interim Consolidated Statement of Financial Position
Interim Consolidated Statement of Cash Flows
Quarterly financial statements are unaudited and not subject to any review
Please refer to the “Definitions of Alternative Performance Indicators” in the appendices for explanations of the terms used in this section
The reconciliation of alternative performance indicators to the condensed interim consolidated financial statements is provided in the appendices, along with their definitions
$125m RCF of which $25m ancillary guarantee facility (used for $15m) and $100m fully undrawn
Including a $64m negative foreign exchange impact compared to December 31, 2024
IFRS 15 requires that Earth Data prefunding revenues be recognized only upon delivery of the final processed data, that is, when the performance obligation is fulfilled. As a result, revenue and margin recognition for ongoing surveys is deferred. Viridien’s segment reporting, however, continues to apply the percentage-of-completion method previously used before the adoption of IFRS 15, for recognizing Earth Data prefunding revenues and associated margins
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