Geodrill CEO Dave Harper told the LD Micro conference that the mineral exploration driller, which runs more than 100 rigs across five countries on two continents, is benefiting from strong gold and copper drilling demand while working to restore margins. Harper said the company has grown organically by reinvesting profits into rigs, with revenue compounding at 15% a year from 2014 to 2025 versus 9% growth in its fleet, and each added rig contributing roughly $2.2 million to revenue on average. An oil shock tied to the Iran situation raised diesel and operating costs that contracts did not cover, squeezing gross margins, so Geodrill is raising prices on new work and repricing underperforming contracts to restore its historical EBITDA margin of approximately 20%. Second-quarter revenue hit a record $55 million, up 10% year over year, with gross profit of $9 million at a 16% margin and EBITDA of $8 million, up 35% sequentially. As of June, the company had $12 million of debt and $11 million of cash.
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XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/21/2026 | 4,141.17 |
| Change that session | +0.39% |
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