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Geospace Q2 2025 Earnings Report
Geospace Technologies Corporation reported a decrease in revenue and a net loss for the second quarter and six-month period ended March 31, 2025, compared to the previous year.
Key Takeaways
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.
Second quarter revenue decreased to $18.0 million from $24.3 million in the prior year.
Net loss for the second quarter was $9.8 million, or $(0.77) per diluted share, compared to a net loss of $4.3 million, or $(0.32) per diluted share, in the same period last year.
Smart Water segment achieved record performance with revenue of $9.5 million, an increase of 47.8% year-over-year.
Energy Solutions segment revenue significantly decreased by 76.5% to $2.6 million due to lower utilization of marine ocean bottom node rental fleet and collectability concerns.
Geospace
Geospace
Geospace Revenue by Segment
Revenue by Segment
Smart Water Revenue
CapyFin.comEnergy Solutions Revenue
CapyFin.comIntelligent Industrial Revenue
CapyFin.comCorporate Revenue
CapyFin.com Forward Guidance
Geospace Technologies Corporation expresses optimism for future periods, citing strong performance in the Smart Water segment, a solid balance sheet, and strategic diversification into high-margin markets, despite ongoing uncertainties in the Energy Solutions and Intelligent Industrial segments.
Positive Outlook
- Hydroconn® universal connectors achieved their highest first six-months revenue ever, indicating continued growth.
- A recently announced Mariner contract and ongoing PRM studies reinforce market interest in the company's technology.
- Current backlog places the company in a strong position for the second half of the year.
- The company maintains a strong balance sheet with no debt and $19.8 million in cash and short-term investments.
- Continued pursuit of growth through acquisition with immediately accretive additions to topline revenue.
Challenges Ahead
- Ongoing uncertainty in the Energy Solutions segment due to global trade concerns, tariffs, and decreasing oil prices.
- Impact of external factors on project decisions for customers, leading to delayed and canceled opportunities.
- Intelligent Industrial segment negatively impacted by tariff concerns, especially for EXILE products.
- Lower utilization for marine ocean bottom node rental fleet impacting Energy Solutions revenue.
- Concerns of collectability of receivables from a rental customer, leading to a reversal of $2.2 million against rental revenue.
Revenue & Expenses
Visualization of income flow from segment revenue to net income