Pason Systems Inc
TSX:PSI

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Pason Systems Inc
TSX:PSI
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Price: 12.26 CAD -0.16% Market Closed
Market Cap: 956.8m CAD

Pason Systems Inc
Investor Relations

Pason Systems, Inc. engages in the design and production of instrumentation and data management systems for drilling rigs. The company is headquartered in Calgary, Alberta. The firm's three strategic business units include The North American (Canada and the United States) and International (Latin America, including Mexico, Offshore, the Eastern Hemisphere, and the Middle East) business units, all of which offer technology services to the oil and gas industry, and the Solar and Energy Storage business unit, which provides technology services to solar and energy storage developers. The firm's solutions include data acquisition, wellsite reporting, automation, remote communications, Web-based information management, and data analytics enable collaboration between the drilling rig and the office. The company offers end-to-end data management solutions enabling secure access to critical drilling operations information and decision making in real time.

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PSI
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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 7, 2025
AI Summary
Q3 2025

Revenue: Pason reported Q3 2025 consolidated revenue of $101 million, showing resilience despite a decline in industry drilling activity.

Profitability: Adjusted EBITDA was $38.5 million (38.1% of revenue), and net income was $12.5 million, down from the prior year due to lower activity and higher expenses.

Segment Performance: North American Drilling revenue fell 7% year-over-year on a 9% industry decline; Completions segment revenue grew 17% despite a 27% industry activity drop; International revenue fell 18%.

Cash Flow & Returns: Free cash flow rose to $18.7 million; $13.1 million was returned to shareholders in Q3 via dividends and buybacks.

Capital Spending: 2025 capex expected between $55–60 million, with similar plans for 2026; focus remains on growth investments in Completions and technology upgrades.

Outlook: Management sees a path to doubling revenue over 5–7 years through technology adoption, data products, and international expansion, but notes that near-term conditions remain challenging.

Key Financials
Revenue
$101 million
Adjusted EBITDA
$38.5 million
Adjusted EBITDA Margin
38.1%
Net Income
$12.5 million
EPS
$0.16
Free Cash Flow
$18.7 million
Cash and Short-Term Investments
$75.6 million
Net Capital Expenditures
$10.7 million
Shareholder Returns (Q3 2025)
$13.1 million
Quarterly Dividend per Share
$0.13
Revenue per Industry Day
$1,071
Completions Segment Revenue
$14.6 million
International Drilling Segment Revenue
$12.5 million
Solar and Energy Storage Segment Revenue
$5.1 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Jon Faber C.F.A., CPA, CBV
President, CEO & Non-Independent Director
No Bio Available
Ms. Celine Boston
Chief Financial Officer
No Bio Available
Mr. Bryce McLean
Vice President of Operations
No Bio Available
Mr. Lars Olesen
Vice President of Product & Technology
No Bio Available
Ms. Natalie Fenez
VP of Legal & Corporate Secretary
No Bio Available
Ms. Heather Hantos
Vice President of Human Resources
No Bio Available
Mr. Timur Kuru
President & GM of United States
No Bio Available
Mr. Ben Thomas
Director of Support Services - United States Business Unit
No Bio Available

Contacts

Address
ALBERTA
Calgary
6130 3 St SE
Contacts
+14033013401.0
www.pason.com