Brief: Pulse Seismic Inc Signs $17.0 Million Seismic Data Licensing Agreement

Pulse Seismic

29/05/2021 02:23

May 28 (Reuters) - Pulse Seismic Inc  PSD.TO :
    * . SIGNS $17.0 MILLION SEISMIC DATA LICENSING AGREEMENT
    * COMPANY WILL IMMEDIATELY DELIVER A PORTION OF DATA AND
WILL
RECOGNIZE REVENUE OF $7.3 MILLION
    * PULSE SEISMIC-REMAINDER OF DATA MUST BE SELECTED BY
CUSTOMER BY
APRIL 15, 2022, TIME BALANCE OF $9.7 MILLION LICENSING FEES WILL
BE RECOGNIZED AS REVENUE
    * Q1 2021 DATA SALES OF $4.7 MILLION AND ANOTHER $12.5
MILLION OF
DATA SALES IN Q2
    * DEAL OF THIS MAGNITUDE WILL BE HIGHLY POSITIVE FOR CO'S
CASH
EBITDA
    * TRANSACTION-BASED SALES ARE INHERENTLY UNPREDICTABLE AND
CONTRIBUTE TO FLUCTUATING NATURE OF PULSE'S QUARTERLY AND ANNUAL
RESULTS

Source text for Eikon:  ID:nGNX53H4RT 
Further company coverage:  PSD.TO 

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