Geospace Earnings Reports

Geospace Technologies Corporation reported a revenue of $18.0 million for the second quarter ended March 31, 2025, a decrease from $24.3 million in the comparable year-ago quarter. The company experienced a net loss of $9.8 million, or $(0.77) per diluted share, for the quarter, compared to a net loss of $4.3 million, or $(0.32) per diluted share, in the prior year.

Geospace Technologies reported a decrease in revenue to $37.2 million compared to the previous year's $50.0 million. However, the company achieved a net income of $8.4 million, or $0.65 per diluted share.

Geospace Technologies reported a net loss of $12.9 million on revenue of $35.4 million for the fourth quarter ended September 30, 2024. Excluding non-cash charges, adjusted net income was $4.4 million. The Adjacent Markets segment experienced strong growth, driven by Hydroconn sales.

Geospace Technologies reported a net loss of $2.1 million for the third quarter of 2024, with revenue of $25.9 million. The Oil & Gas Markets segment was negatively impacted by gaps in OBX rental contracts, while the Adjacent Markets segment achieved record revenue. The company is also progressing with its stock repurchase program and announced a leadership transition plan.

Geospace Technologies reported a decrease in revenue and a net loss for the second quarter of 2024, primarily due to lower utilization of ocean bottom nodes in the Oil and Gas Markets segment. However, the Adjacent Markets segment performed well, and the company maintains a strong balance sheet with significant cash reserves.

Geospace Technologies reported a profitable fourth quarter with revenue of $29.3 million and net income of $4.4 million, or $0.33 per diluted share. The company's full fiscal year revenue reached $124.5 million, the largest since 2014, with a net income of $12.2 million.

Geospace Technologies reported a strong third quarter with a 58% increase in revenue to $32.7 million and a net income of $3.2 million, driven by increased demand in the Oil and Gas and Adjacent Markets segments. The company's OBX ocean bottom node rental fleet is near full utilization, and the Adjacent Markets segment achieved record quarterly revenue. Geospace also strengthened its balance sheet, increasing cash and cash equivalents to $27.3 million.

Geospace Technologies reported a strong second quarter for fiscal year 2023, with revenue reaching $31.4 million, the highest in almost 9 years, and a net income of $4.7 million, driven primarily by OBX ocean bottom node rentals and Adjacent Markets segment growth.

Geospace Technologies Corporation reported a significant increase in revenue for the first quarter ended December 31, 2022, reaching $31.1 million compared to $18.0 million in the same period last year. The net loss 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. The revenue reported for the first quarter marks the highest quarterly revenue the Company has recorded since 2014.

Geospace Technologies experienced a 33% increase in revenue compared to the same quarter last year, driven by strong demand for OBX ocean bottom nodes and specialty geophone sensors. However, the company still reported a net loss of $8.0 million, or ($0.62) per diluted share.

Geospace Technologies reported a decrease in revenue and a net loss for the third quarter of fiscal year 2022, with revenue at $20.7 million compared to $23.1 million in the same quarter last year, and a net loss of $6.6 million, or $(0.51) per diluted share.

Geospace Technologies reported revenue of $24.7 million for the second quarter ended March 31, 2022, compared to $23.9 million for the same period last year. The net loss narrowed to $1.5 million, or $(0.11) per diluted share, from a net loss of $7.2 million, or ($0.53) per diluted share, in the prior year quarter.

Geospace Technologies reported a net loss of $6.8 million on revenue of $18.0 million for the first quarter ended December 31, 2021. The decrease in revenue is primarily attributed to challenges in the Oil and Gas Markets segment and the near completion of a contract in the Emerging Markets segment. The Adjacent Markets segment experienced an 18% increase in revenue.

Geospace Technologies reported a decrease in revenue and a net loss for the fourth quarter of 2020, primarily due to the negative impacts of COVID-19 on its business segments. Revenue was $21.5 million, with a net loss of $3.9 million, or ($0.29) per diluted share.

Geospace Technologies reported a net loss of $2.3 million, or $0.17 per diluted share, on revenue of $22.7 million for its third quarter ended June 30, 2020. This compares to a net loss of $3.7 million, or $0.27 per diluted share, on revenues of $22.9 million for the third quarter of the prior year.

Geospace Technologies reported a net loss of $11.8 million, or $0.87 per diluted share, on revenue of $25.9 million for its second quarter ended March 31, 2020. This compares with net income of $0.7 million, or $0.05 per diluted share, on revenues of $26.1 million for the second quarter of the prior year. The company's revenue was primarily fueled by ongoing demand for its ocean-bottom marine nodal recording systems.

Geospace Technologies reported a narrowed net loss of $1.3 million on revenue of $25.7 million for the first quarter ended December 31, 2019. Revenue increased by 44% compared to the first quarter of the prior year, driven by increased demand for ocean-bottom marine nodal recording systems.