Viridien Touts Financial Rebirth on Strong Profits and New Leadership

PARIS, FRANCE – February 26, 2026 – Viridien, the Paris-based geoscience technology firm, today announced robust 2025 annual results that showcase a company hitting its stride after a multi-year strategic transformation. The firm reported significant growth in profitability and cash flow, enabling substantial debt reduction and setting a confident tone for the future with the appointment of a new chief executive.

The results mark a high point in the "asset-light" strategy initiated in 2018, which saw the company, formerly known as CGG, pivot away from capital-intensive data acquisition to focus on its core strengths in advanced technology, digital solutions, and Earth data analysis. For the full year 2025, Viridien posted segment revenue of $1.165 billion, a 4% increase year-over-year, driven by strong demand in its Geoscience and Earth Data divisions.

A Financial Turnaround Realized

The headline revenue figure belies a more dramatic improvement in profitability. Viridien's segment adjusted EBITDAs surged by 21% to $551 million, boosting the company's margin to an impressive 47%, up from 41% in 2024. This operational efficiency translated directly to the bottom line, with IFRS Net Income climbing 40% to $71 million.

This performance stands out in a complex oil and gas services market. While major competitors like SLB and Baker Hughes showed revenue growth, Viridien's significant margin expansion and net income surge highlight the success of its disciplined, efficiency-focused model.

The most tangible result of this profitability is a torrent of cash. The company generated a net cash flow of $107 million, handily beating its own guidance of $100 million and nearly doubling the $56 million generated in 2024. As promised, this cash was immediately deployed to strengthen the balance sheet. Net debt (excluding IFRS 16 lease liabilities) was reduced to $753 million.

"2025 was a pivotal year in advancing the asset-light strategy and financial transformation we initiated in 2018," said Sophie Zurquiyah, Chair and CEO of Viridien. "Leveraging our proven competitive edge as an advanced technology and digital expert, we delivered very strong operational performance and generated substantial cash, fully allocated to debt reduction."

The 'Asset-Light' Blueprint for Success

The strong 2025 results are a validation of the strategic overhaul launched nearly eight years ago. By exiting the volatile and capital-heavy business of owning and operating seismic acquisition fleets, Viridien has created a more resilient and flexible business model. This focuses on high-value, knowledge-based services in geoscience analysis, data processing, and high-performance computing (HPC).

The company's Data, Digital and Energy Transition (DDE) division was the primary growth engine, with segment revenue climbing 8% to $850 million. The Geoscience business within that division grew 10%, while the Earth Data segment, which manages and licenses a vast library of subsurface data, grew 6%. The company noted its computing power increased by 33% to 690 petaflops, underscoring its commitment to technological leadership.

However, understanding Viridien's full financial picture requires a look beyond the segment numbers. The company's consolidated IFRS revenue actually declined 12% to $1.071 billion. This apparent contradiction is due to the IFRS 15 accounting standard, which dictates that revenue from multi-client data surveys can only be recognized upon final delivery. This created a $94 million negative accounting adjustment for 2025, a stark contrast to a positive adjustment in 2024. Company management emphasizes that segment results, which recognize revenue as work is performed, provide a clearer view of underlying business trends.

The company's debt management has also been a key part of the strategy. In 2025, Viridien used its strong cash flow to repay $97 million of its outstanding bonds, on top of refinancing its debt structure earlier in the year to secure more favorable terms and establish a $125 million revolving credit facility, which remains largely undrawn.

Charting the Future with New Leadership

With its financial footing now secure, Viridien is also turning a new page in its leadership. The company announced that Sophie Zurquiyah, the architect of the successful turnaround, will transition from CEO to the role of non-executive Chair of the Board, effective June 3, 2026. The move is designed to ensure strategic continuity and leverage her experience to guide the company's long-term vision.

Stepping into the CEO role will be Henning Berg, a seasoned industry veteran with 27 years of experience at oilfield services giant SLB. At SLB, Berg held numerous senior global leadership roles, including President of Drilling & Measurements. His extensive operational, commercial, and technological experience across the globe is seen as a strong fit for Viridien's next phase of growth. Berg will join the company on March 3, 2026, as Chief Operating Officer to ensure a smooth and structured transition before taking the helm.

Navigating a Selective Exploration Boom

Looking ahead, Viridien is positioning itself to capitalize on what it sees as an emerging upcycle in energy exploration. While broad market trends are subject to price volatility, the company believes a structural need for new energy supplies will drive investment in frontier discoveries and complex offshore deepwater developments.

This is not a return to the boom-and-bust cycles of the past, but rather a more selective, technology-driven push for resources. This is precisely the environment where Viridien's expertise in processing complex seismic data and its massive high-performance computing infrastructure offer a distinct competitive advantage. The company's work on large-scale Ocean Bottom Node (OBN) projects in core basins and its expansion in areas like Brazil’s Equatorial Margin and the U.S. Gulf of Mexico place it at the center of this trend.

Reflecting its confidence, Viridien has set its 2026 guidance for net cash flow at another $100 million, which it again pledges to dedicate to deleveraging. This disciplined approach, combined with its technological prowess and a refreshed leadership team, positions the company to build on the success of its transformation and navigate the future of the evolving global energy landscape.