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Highlights
- Net income rose to $7.5 million, up from $0.4 million in Q1 2024
- Adjusted EBITDA increased to $21.8 million with margin growth to 36.7%
- Operating cash flow decreased to $5.8 million due to working capital timing shifts
AKITA Drilling Ltd. (TSX: AKT.A) released its financial results for the first quarter ended March 31, 2025, reporting net income of $8.6 million—more than triple the $2.6 million recorded in the same quarter of 2024. The company attributes this improvement to continued elevated utilization rates and increased drilling activity in both its Canadian and U.S. operations.
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