everyone. morning, Good Rachel. Thanks,
intend multi-client an to financial stage I business paths our call, expectations on will and quarter and today's our and XSea. time but our recap for on markets in will the operational XXXX. momentum and fourth XXXX spend During into focus diversifying some results, of will E&P XXXX growth primarily on our imaging adjacent projects, Advisors programs, new OBS progress commercialization cover high-end for technology I in set
extend As guidance. not a we practice, do
I why around Q&A. XXXX. raise to some them we -- on XXXX feel However, be please will thoughts any topics up I are a in considerable there shaping see address, to additional you improvement share If could
of XXXX. pleased First, discuss the in the financials. let's but the with only the quarter for also every throughout I'm performance quarter, business, fourth not
asset-light market Although many, to our years has our has is recovery the flowing, select capital strategy, slow along X over with where off. the segments paid follow for efforts been last
the between, business comparable we the somewhere value. it. of in second the range production and quarter third that funds quarter opportunities niche end; market, low exceeding and our E&P dependent on significant surgically entirely to The a, be results fourth was coming shy b, of exceeding easily potentially would quarter driven modestly or quarter, by available. year-end the it the on stated amount less third geographic delivered range larger where a targeted optimization for earnings recovery the differentiated As technologies we select our our expected call in areas in We and cycle
last third Our year. $XX in quarter. in million $XX in that million range fourth quarter high $XX The represents the a and compared $XX million at side in coming revenue of XX% the million was second with quarter the fourth revenue quarter increase the on over of
of the high the adjusted quarter the last and quarter fourth EBITDA in X.Xx was range million adjusted of the on generated we Our $XX the EBITDA year. fourth for end provided
operations a during on in from item There stock Steve flows $X In was the XXXX million fourth charge XXXX. addition, in related to quarter the of soon. fourth will $XX of million million which net right compared with special appreciation of associated we quarter awards, of a $X positive cash the of use have quarter to XXXX fourth elaborate
In results, had we XD by sales terms well substantial driven reimaging our continued year-on-year of in improvements our strong as year full XXXX. new of as multi-client XD programs we programs launched
million bottom last XXXX, $XXX XXXX. of generated better comparison so a year. last full is compared in did revenues last XX% revenues EBITDA the continued $XX flow XXXX revenue million, our X to ocean the since that first In and better million This million we from year. in ended we up $XX of of consecutive revenues the operations cash a was $X from $XX Excluded quarters for million strong million E&P to recognize reported breakeven or our compared backlog sixfold are Technology bottom Net we year. was exclude last from compared adjusted year-over-year XXXX. to year $XX would ocean Adjusted at Our XX% In end of seismic increase Services we of any time up not million $XXX with & have the $XX sequentially quarter year. from what were EBITDA. million services, segment,
in shifts progress, on programs revenue data from they from shelf activity programs venture to quarter to transacted When our completed this library. occurs, the programs move in. the recognized backlog it's As in new work-in-progress
to expect less reduce, As meaningful library, we we forward. build backlog data becoming complete continue our a and to moving metric programs
in This to in drove expect quarter with good it for we strong programs, reminder, of as the build In X-year projects. quarter line first XXXX XXXX pipeline potentially XXXX. of a As increase consistent a launched backlog new X one sanctioned we to exceeding the revenues continued should level we and May first to our period we program translate off backlog June XXXX. which XXXX,
the softest that this for typically caution is are time us. still figuring of their first I customers typically the so out quarter However, year, our budgets
a direct beneficiaries positioned were data for Our is of round And exceptionally as spending. we year-end activity. diverse library well result, license upcoming
in Mediterranean across revenues new well Argentina, XD geographic were multi-client new XXXX. increase the sanctioned This venture in that and new A discoveries. programs revenues renewed of areas was XD as advance in This of increased data underwriting revenues the a to result in demonstrates clients' from the sales Caribbean. and a quarter, reimaging new rounds revenues venture revenue offshore to fourth Brazil to license of Mexico, data from XXX% last interest in evaluate increase to programs of programs majority and and Africa, the Nigeria, increased obtain revenue compared year. library diverse multi-client launched Multi-client and came from East continued Brazil, our XX% in quarter Mexico as programs
X,XXX sanctioned multi-client XXX,XXX XXXX, venture I'm new solid throughout square in positive the our reimaging program I'd in multi-client over kilometers XXXX, phase and data programs our capital quarter. in X our Mexico, offshore programs multi-client like library mature program detail new we Gabon, from square now had like continued proven, After of on revenues kilometers underwriting, XD offshore to the years, XD to multi-client kilometers. years to we XXX,XXX in and and new square reiterate investment one. quarter continued XD the is success X programs of year. In offshore data, new bringing we third that additional X X the We Panama expanding program Argentina. demand in come. over Campeche Picanha Brazil, and you to areas, We reimaging encourage And client long-term X XD programs to read these each activity, we venture details flowing. to for that XD where XD generating about launched just tremendous with our many demand multi-client would to little these have I third from of program excited, momentum years and growth programs multi-client programs, where sales finalized provided extension to Due the transcript another potential you we in any benefit very
group the ION's Our provides has remains services focus and imaging The both proprietary solving projects, a processing higher our better of programs which margins. portion challenges. imaging utilized dedicated capacity proprietary third-party work is fully multi-client sharp to toughest market, The some end of projects and the technologies the which keeps value, and we to in technology-driven high continued group, on geophysical on large multi-client with our with cutting-edge services skills take for programs. data of
production. in Inversion, investing geophysical already imaging wave-based increasing R&D reservoir continued in FWI, or industry-leading detailed develop optimize data-driven models an approach momentum images We is new Waveform more impact. It's on our understand Full an and that making XXXX, such reservoirs delivers as to better to which technology,
in imaging. an of other its additional XXX higher the For XXXX, barrels resolution XXX of barrels of of million Waveform example, oil field BP Inversion million fields attributed Atlantis Mexico in potential Full upside and to of Gulf oil in identification
are Recognized as on of the to imaging projects imaging. of last handful the leaders executing of FWI us only bottom ultra-high-end start year. multiple seismic in win one high-profile enabled ocean and We a and ocean proprietary nodal bottom imaging companies this forefront
investment, for management their host this of to and major governments, their completed round gas the role, Advisors to evaluation as exploration new host a license in assets contract their well potential to the as attract attract advise E&P companies the expanded oil In investment. group, In E&P is evaluated third advisory promote we distressed heightened blocks help technical this to which broadly Our maximum XXXX quarter. advisory globally the designed service in host focus world rejuvenation and fourth during initial to fields' competition offered of be private more province. firms, government equity oil governments
XXXX. push expanded work, anticipate revenues revenues of short the services we quarter consultancy revenues greater the of As of into to to indicated and X Xx result in that success-based still success-based range the out term the XXXX the revenues. expected last scope service the our in We we
segment, pursuing maximize our businesses, to We and they In our equipment the success are seismic optimization provide create. additional the for core share our acreage opportunities of this capability in technology governments software as operations we to we and maintained while adjacent and value excited their the markets.
targeting expanding competitive business segment Throughout example, devices For is robotics we XXXX, production and is defended core into and Marlin against successfully software military applications. the scientific, our offshore threats.
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vessel We Throughout the of integrates like route to assets, data asset emphasis improve of digitization to visualize successfully Marlin, XSea completed and The offshore deployments measure vessels and over have maritime an we traffic and a plans, bringing now year, between and complex real-time markets on cloud observed optimize we and increased avoid and fixed sources Marine variety other in in air conflicts and pursuing. decision-support XX schedules seismic performance. transparency system control enables the share that multiple are stakeholders rigor, activities.
hundreds release expenditure software by global quarter, remote permanent on We for are change their version supply E&P of for operations. and up the installations outpost long-term shrink-wrapped our with second centralizing millions vessel made vessel office-based the will offering companies. a oversight the E&P of These we pilot excellent During of worldwide operators offshore progress projects. E&P version the lining of most seismic a Marlin operational our signed opportunities in Marlin a with quarter supply both in for covering of customers' company first up remote dollars of operations and provide step of monitoring Marlin
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and ongoing wind of applicability of indicate applicable For the for is example, the results exhaustive for on Marlin's operation management. study and study Marlin The maintenance farm an farms. construction wind both completed we highly
partnerships to markets offering these Our adoption. engagement right accelerate to the our strategy and in its with includes enhance
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we're existing segment, revenues of able group the space. devices from seismic optimization of operations due new optimally engineering some Our group, doubled offshore which optimization in increase execute in our the in companies to customers year-over-year In consulting offset their technology offerings part and new outside selling services large incremental and projects, Marlin oil help delivers services deployments. the to revenues plan to to and E&P the decline selling
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In technology, which to area can to optimize our and to commercializing significant alternative configurations the diverters. conventional employed and positioning, SailWing, commercial trial is to fuel smaller towing are the faster SailWing into efficiency innovative flexible addition, array footprint. close with a towing, quarter, bulky met we be partners. potential had In we has are all Marine successful SailWing growth drag, be of an objectives, we field SailWing potential for ION. foil-based less safer tests and significantly moving improve fourth yielding their and through which now operations another source
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in environments, system, the field group, commercial new During fourth its in accuracy demonstrated robustness our trials we our ocean services leading nodal of order. introduced bottom integrated that GPS-deprived quarter, our seismic had In we first and successful our fully XSea, to XXXX. technology
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asset-like model moving services an to For stop acquisition to is similar example, providing Schlumberger decided to recently and ION's.
commercialization to for take to XSea there offerings approaches more market, commercializing XSea and possible successful us staying numerous while asset-light. evaluated makes broadly to are true smarter have believe alternative what to We our being paths
on to We two successfully in forward. more have market models participate this settled moving growing business
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our we of in the the first varies, we would the enabling data operations, hub Gator survey integrated of quarter control source of and imaging our position for believe each software. a timely survey external onboard delivery a deployment command enabling second Examples sim design control for with component commercial for engine the efficient data with components be availability efficient extremely efficient XXXX. tool in of some and processing While individual could in SailWing central of the be component
time, integrated approach in differentiated integrated its to change E&P right shift two more enhanced market economics, the term management a higher, the system for deliver ability service stream. image believe to to fully model, paradigm fully deliver in QHSE as in decisions. to a provider license We enabling over critical long delivery and the approaches value use second is is the and data our effective value-based sustainable in final will a manufacture today, The our the a these still We a performance pricing believe step for use most system shareholders. on such return royalty and reservoir
pricing While taking before thresholds. I'll return the market, long-term value-based on evaluate and will OBS that meet risk to over basis that, With our the then a it turn models, us our we route I'll case-by-case primary continue wrap and through up questions. to financials, to walk to Steve opportunities
