Q3 & 9 Months 2024 Results: Viridien Delivering on Cash Generation and Financial Roadmap

Paris (France), October 31st, 2024, 17h45 CET

Viridien, a leading geoscience company, has announced their Q3 and 9-month results for 2024, showing impressive growth in revenue, adjusted EBITDA, and net cash-flow. This positive performance is a testament to the company’s strategic vision and technological innovation.

Key Highlights:

Revenue for Q3 was $246 million, bringing the total for the first 9 months of the year to $778 million. While there was a slight decrease in revenue compared to the previous year, the company’s focus on new business growth and technology leadership has paved the way for future success.

Adjusted EBITDA for Q3 increased by 7% to $98 million, with a total of $298 million for the first 9 months. This improvement in profitability is a result of Viridien’s strong performance in geoscience, which has seen a record high order book thanks to its best-in-class imaging technology and high-performance computing power.

Net cash-flow also showed significant improvement, reaching $10 million for Q3 and $34 million for the first 9 months of 2024. This is a stark contrast to the same period in 2023, where the company reported a negative cash flow of $15 million.

Sophie Zurquiyah, Chief Executive Officer of Viridien, expressed her satisfaction with the company’s performance, stating that the results demonstrate the strength of their strategic vision. She highlighted the success of geoscience in particular, crediting its clear differentiation and technological innovation for the positive outcomes.

Overall, Viridien’s Q3 and 9-month results show that they are on track to hit their full-year targets, with a focus on cash generation and financial stability.

How will this affect me?

As a stakeholder in Viridien, you can expect to see positive outcomes from the company’s strong financial performance. The increase in revenue, profitability, and cash flow bodes well for future dividends and overall shareholder value. Additionally, the company’s focus on technology leadership and new business growth indicates a promising outlook for long-term investment returns.

How will this affect the world?

Viridien’s success in geoscience and technological innovation not only benefits the company and its stakeholders but also has broader implications for the world. The company’s advancements in imaging technology and high-performance computing can enhance our understanding of the earth’s resources and contribute to sustainable environmental practices. By pushing the boundaries of geoscience, Viridien is playing a crucial role in shaping the future of our planet.

Conclusion:

Viridien’s Q3 and 9-month results for 2024 demonstrate the company’s commitment to financial excellence and innovation. With a focus on cash generation, technology leadership, and new business growth, Viridien is paving the way for future success in geoscience. As stakeholders, we can expect positive outcomes from the company’s strong performance, while the world stands to benefit from their advancements in imaging technology and environmental stewardship.