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Geodrill Limited (TSE:GEO) swung to a net loss of roughly $200,000 in the second quarter of 2026 even as revenue climbed 10% to a record $55.1 million, with gross margin falling to 16% from 24% a year earlier as operating losses in Chile and rising input costs compressed profitability.
EBITDA margin dropped to 14% from 28% in the same period. Margin collapse behind the record top line Gross profit totaled $8.8 million in the quarter ended June 30. EBITDA came in at $7.9 million.
A year earlier, the company reported net income of $5.4 million.
CEO Dave Harper said Chile delivered the weakest revenue growth of any operating region and that startup challenges there contributed to its negative performance.
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