Articles from Geospace Technologies Corporation

Geospace Technologies Corporation (NASDAQGEOS) (“the “Company") today announced a net loss of $6.6 million after fourth quarter non-cash charges of $17.3 million on revenue of $135.6 million, for its fiscal year ended September 30, 2024. This compares with net income of $12.2 million on revenue of $124.5 million for the comparable year-ago period. Excluding the non-cash charges, fiscal year 2024 adjusted net income is $10.7 million. This compares with adjusted net income of $12.2 million for the comparable year-ago period.

Geospace Technologies Corporation (NASDAQGEOS) (the “Company”) announces today that beginning in the fiscal year 2025 it will operate under three new business segments: Smart Water, Energy Solutions and Intelligent Industrial. The business segment realignment and name changes take place in an effort to more accurately reflect the Company’s on-going diversification efforts. The three new segments replace Oil and Gas Markets, Adjacent Markets and Emerging Markets, which were adopted in 2018 following several diversification-oriented acquisitions. Financial reporting on these new business segments will be represented in the first quarter of fiscal year 2025 reports.

Geospace Technologies Corporation (NASDAQGEOS) today announced a 240-day rental contract with a worldwide leading geophysical solution provider who will rent OBX-750E, shallow water seabed wireless seismic data acquisition nodes. Based on current contract terms, the minimum value of the agreement is $11.9 million. The delivery of OBX nodes will occur in Geospace’s fourth quarter of fiscal year 2024.

Geospace Technologies Corporation (NASDAQGEOS) today announced the sale of OBX-750E seabed ocean bottom wireless seismic data acquisition nodes to SAExploration, an international marine geophysical services provider. Based on current contract terms, the value of the agreement is estimated at $10.5 million. SAExploration exercised an option in the Company’s rental agreement to purchase the OBX-750E nodes under this contract.

Geospace Technologies Corporation (NASDAQGEOS) (the “Company”) today announced results for its third quarter ended June 30, 2024. For the three-months ended June 30, 2024, Geospace reported revenue of $25.9 million, compared to revenue of $32.7 million for the comparable year-ago quarter. Net loss for the three-months ended June 30, 2024 was $2.1 million, or ($0.16) per diluted share, compared to net income of $3.2 million, or $0.24 per diluted share, for the quarter ended June 30, 2023.

Geospace Technologies Corporation (NASDAQGEOS) (the “Company”) today announced that as part of the annual reconstitution of the Russell stock indexes, the Company will be added to the Russell 2000®, Russell 3000®, and Russell Micro-Cap® Index which will be effective on July 1, 2024.

Geospace Technologies Corporation (NASDAQGEOS) (the “Company”) today announced results for its second quarter ended March 31, 2024. For the three-months ended March 31, 2024, Geospace reported revenue of $24.3 million, compared to revenue of $31.4 million for the comparable year-ago quarter. Net loss for the three-months ended March 31, 2024 was $4.3 million, or ($0.32) per diluted share, compared to net income of $4.6 million, or $0.35 per diluted share, for the quarter ended March 31, 2023.

Geospace Technologies Corporation (NASDAQGEOS) announces the new product release of an all-in-one, ultralight weight, land-based, wireless seismic data acquisition solution called the Pioneer™.

Geospace Technologies Corporation (NASDAQGEOS) today announced a $30 million contract with an international marine geophysical services provider for the purchase of the Company’s latest shallow water ocean bottom nodes known as Mariner™. This contract replaces the approximately $20 million contract announced in June 2023. Delivery of the Mariner products is complete, and revenue will be recognized in the first quarter of the fiscal year 2024.

Geospace Technologies Corporation (NASDAQGEOS) today announced the addition of Stephen C. Jumper, former Chairman of the Board, President and CEO of seismic data acquisition provider Dawson Geophysical, to its Board of Directors effective December 21, 2023.

Geospace Technologies Corporation (NASDAQGEOS) (“the “Company") today announced net income of $12.2 million, or $0.92 per diluted share, on revenue of $124.5 million for its fiscal year ended September 30, 2023. This compares with a net loss of $22.9 million, or ($1.76) per diluted share, on revenue of $89.3 million for the comparable year-ago period.

Geospace Technologies Corporation (NASDAQGEOS) today announced a $5.7 million contract with an international seismic contractor to deliver a significant number of specialized geophones designed for vibration monitoring in rugged environments.

Geospace Technologies Corporation (NASDAQGEOS) today announced a rental contract with Walker Marine Geophysical, a high resolution land and marine seismographic surveyor provider who will rent 3,000 of the new product, Mariner®, shallow water seabed wireless seismic data acquisition nodes. Based on current contract terms, the minimum value of the agreement is $3.2 million. The delivery of Mariners will occur in Geospace’s third quarter of fiscal year 2024.

Geospace Technologies Corporation (NASDAQGEOS) (the “Company”) today announced results for its third quarter ended June 30, 2023. For the three-months ended June 30, 2023, Geospace reported revenue of $32.7 million, a 58% increase compared to revenue of $20.7 million for the comparable year-ago quarter. Net income for the three-months ended June 30, 2023 was $3.2 million, or $0.24 per diluted share, compared to a net loss of $6.6 million, or ($0.51) per diluted share, for the quarter ended June 30, 2022.

Geospace Technologies Corporation (NASDAQGEOS) today announced an extended duration rental contract with an international marine geophysical services provider who will rent the new product, Mariner®, shallow water seabed wireless seismic data acquisition nodes. Based on current contract terms, including potential options, the estimated value of the agreement is expected to reach $20 million. The delivery of Mariners will occur in Geospace’s first quarter of fiscal year 2024.

Geospace Technologies Corporation (NASDAQGEOS) (the “Company”) today announced results for its second quarter ended March 31, 2023. For the three-months ended March 31, 2023, Geospace reported revenue of $31.4 million compared to revenue of $24.7 million for the comparable year-ago quarter. Net income for the three-months ended March 31, 2023 was $4.7 million, or $0.35 per diluted share, compared to a net loss of $1.5 million, or ($0.11) per diluted share, for the quarter ended March 31, 2022.

Geospace Technologies Corporation (NASDAQGEOS) today announced its subsidiary Quantum Technology Sciences, Inc. signed a $1.5 million contract with the Defense Advanced Projects Research Agency (DARPA).

Geospace Technologies Corporation (NASDAQGEOS) (the “Company”) today announced results for its first quarter ended December 2022. For the three-months ended December 31, 2022, Geospace reported revenue of $31.1 million compared to revenue of $18.0 million for the comparable year-ago quarter. Net loss for the three-months ended December 31, 2022 narrowed to $0.1 million, or $(0.01) per diluted share, compared to a net loss of $6.8 million, or ($0.52) per diluted share, for the quarter ended December 31, 2021.

Geospace Technologies Corporation (NASDAQGEOS) today announced a rental contract with an international marine geophysical services provider who will rent OBX shallow water ocean bottom wireless seismic data acquisition nodes. Based on current contract terms, the value of the agreement is estimated at $9 million.

Geospace Technologies Corporation (NASDAQGEOS) today announced an extended duration rental contract with an international marine geophysical services provider who will rent OBX deep water ocean bottom wireless seismic data acquisition nodes. Based on current contract terms, the value of the agreement is estimated at $7.3 million.