Loading...
•
Sep 30, 2024
Geospace Q4 2024 Earnings Report
Geospace Technologies Faced Net Loss Due to Non-Cash Charges but Showed Strength in Adjacent Markets in Q4 2024.
Key Takeaways
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 $12.9 million for Q4 2024, but adjusted net income was $4.4 million excluding non-cash charges.
Company revenue for Q4 2024 was $35.4 million compared to $29.3 million for the same period last year.
Adjacent Markets segment saw a 65% increase in revenue, driven by strong sales of Hydroconn and initial sales of Aquana products.
The company divested its Russian legal entity, resulting in a non-cash charge of $14.5 million.
Geospace
Geospace
Forward Guidance
Geospace Technologies will report financial information using three new business segments: Smart Water, Energy Solutions, and Intelligent Industrial, beginning in early February.