Business
Viridien : 2026 Q1 Quarterly Results Presentation (viridien 2026 Q1 Quarterly Results Presentation)
Viridien : 2026 Q1 Quarterly Results Presentation (viridien 2026 Q1 Quarterly Results
About this update from Viridien
FINANCIAL RESULTS Q1 2026 May 5, 2026 viridiengroup.com Q1 2026: Solid cash generation in a soft market Q1 2026 performance Seg. Revenues $214m Seg. adj. EBITDAs $76m Net Cash Flow $26m Key takeaways Solid cash generation driven by disciplined management Further deleveraging with $41m of additional bond repayments Revenues impacted by a slow start to the year and Middle East conflict Profitability aligned with revenues FY guidance reiterated $100m of Net Cash Flow generation, with a seasonal profile similar to 2025 2 Q1 2026 3 3 Key business highlights GEOSCIENCE Decreasing external revenues on delayed project approvals Q1 2025 Q1 2026 External Segment revenue Internal production Segment revenue ($M) 98 110 44 32 Backlog ($M) Dec. 31, 2025 Mar. 31, 2025 Mar. 31, 2026 Jun. 30, 2026 231 256 329 Total production / employee ($k) 357 388 Mar. 31, 2025 Mar. 31, 2026 4 GEOSCIENCE A global leader in industrial HPC, with a privileged, long-lasting relationship with Nvidia Viridien's HPC infrastructure A strategic collaboration with Nvidia A worldwide leader amongst industrial players ~700 petaflops of computing power 2 main data centers powering 20+ imaging centers 6 dedicated client data centers A fully optimized setup Technology agnostic (Nvidia, AMD, Intel) Multi-generation GPUs and CPUs, tailored per project Algorithms constantly optimized for each architecture Since 2007: Nvidia GPUs used for seismic imaging › Early adopter of GPU computing for scientific applications Since 2024: strategic collaboration › Early access and co-development on next-gen AI GPUs › Co-optimization of our core imaging algorithms (incl. FWI) › Priority access to chip allocations Driving superior performance and cost efficiency in imaging 5 EARTH DATA Cash EBITDA(1) Q1 2025 Q1 2026 Q1 2026 Segment revenue ($M) 15 54 104 Slow start, but activity expected to build through the year Library net book value (at end-March 2026 - IFRS) $498m Split by age 15% 7% Work in progressUp to 1 year old 14% 64% Up to 2 years oldUp to 3 years old Split by geography 7% Europe & Africa 18% 26% North America (1) Earth Data Cash EBITDA = Earth Data adjusted segment EBITDAs - Earth Data capex 49% South AmericaOther 6 EARTH DATA Expanding our footprint in high-potential emerging basins Guyana Exclusive shallow-water position for new multi-client surveys 25,000 km² of exclusive area for new 3D multi-...