GEOSPACE TECHNOLOGIES CORP

Listed Company

GEOSCIK 0001001115NasdaqAcceleratedSmaller ReportingMeasuring & Controlling Devices, NecTexasFY ends Sep 30

Period

FY 2025

Revenue

$110.80M

Net Income

$-9.72M

Total Assets

$153.04M

Equity

$125.51M

Shares Out

12.89M

Op. Cash Flow

$-22.23M

Business

GEOSPACE TECHNOLOGIES CORP designs and manufactures advanced technology solutions for smart water management, energy exploration and industrial/IoT applications. It offers seismic equipment and services, Hydroconn® connector cables, remote shutoff water valves, IoT platforms, wireless and ocean-bottom seismic nodes, fiber optic reservoir monitoring systems (OptoSeis®), industrial sensors, imaging products, security/surveillance systems (SADAR®, Heartbeat Detector®) and contract manufacturing services. The company organizes its operations into three segments: Smart Water, Energy Solutions and Intelligent Industrial. Its products are sold worldwide to utilities, seismic contractors, oil and gas companies, government agencies and industrial customers through direct sales and specialized resellers.

Summary from filing dated 2025-11-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Total revenue	111	136	125	89	76
Total cost of revenue	78	83	73	71	79
Gross profit	33	53	52	18	16
Selling, general and administrative	30	27	26	23	22
Research and development	19	16	16	18	15
Other intangible asset impairment	0	3	0	—	—
Provision for (recovery of) credit losses	66,000	−110,000	−138,000	292,000	—
Total operating expenses	49	45	42	41	—
Income (loss) from operations	−11	7	11	−23	−17
Loss on sale of subsidiary	0	−15	0	—	—
Interest expense	−169,000	−187,000	−134,000	—	—
Interest income	3	2	539,000	976,000	1
Foreign currency transaction losses, net	−275,000	−270,000	994,000	−397,000	−41,000
Other, net	−145,000	−143,000	−158,000	−61,000	—
Total other income (expense), net	2	−14	1	453,000	3
Loss before income taxes	−9	−6	13	−23	−13
Income tax expense	388,000	114,000	363,000	173,000	578,000
Net loss	−10	−7	12	−23	−14
Basic (in dollars per share)	−0.76	−0.5	0.93	−1.76	−1.05
Diluted (in dollars per share)	−0.76	−0.5	0.92	−1.76	−1.05
Basic (in shares)	13	13	13	13	13
Diluted (in shares)	13	13	13	13	13

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and cash equivalents	26	7	19	16	14
Short-term investments	0	30	15	894,000	9
Trade accounts and financing receivables, net	28	22	21	21	17
Inventories, net	31	26	18	20	16
Assets held for sale	0	2	0	—	—
Prepaid expenses and other current assets	3	2	2	2	2
Total current assets	89	89	76	60	60
Non-current inventories, net	17	18	25	13	18
Rental equipment, net	8	14	22	28	39
Property, plant and equipment, net	23	21	24	27	30
Non-current trade accounts and financing receivables, net	8	6	0	—	—
Operating right-of-use assets	915,000	464,000	714,000	957,000	1
Goodwill	1	736,000	736,000	736,000	5
Other intangible assets, net	5	2	5	6	7
Other non-current assets	542,000	304,000	486,000	506,000	457,000
Total assets	153	152	153	135	164
Accounts payable trade	10	8	7	6	6
Operating lease liabilities	420,000	173,000	257,000	241,000	225,000
Other current liabilities	14	9	13	7	8
Total current liabilities	24	17	20	13	15
Contingent consideration	3	0	—	—	5
Non-current operating lease liabilities	554,000	339,000	512,000	769,000	1
Deferred tax liabilities, net	4,000	34,000	16,000	13,000	31,000
Total liabilities	28	18	20	13	21
Commitments and contingencies (See Note 19)	—	—	—	—	—
Preferred stock, 1,000,000 shares authorized, no shares issued and outstanding	0	0	0	0	—
Common stock, $.01 par value, 20,000,000 shares authorized, 14,378,962 and 14,206,082 shares issued, respectively; and 12,820,702 and 12,709,381 shares outstanding, respectively	144,000	142,000	140,000	139,000	137,000
Additional paid-in capital	99	97	96	95	93
Retained earnings	46	55	62	50	73
Accumulated other comprehensive loss	−5	−4	−18	−15	−16
Treasury stock, at cost, 1,558,260 and 1,496,701 shares, respectively	−15	−14	−8	−8	−7
Total stockholders equity	126	135	133	122	142
Total liabilities and stockholders equity	153	152	153	135	164

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Deferred income tax expense (benefit)	−31,000	18,000	3,000	−17,000	—
Rental equipment depreciation	6	11	12	14	—
Property, plant and equipment depreciation	4	4	4	4	—
Amortization of intangible assets	200,000	400,000	800,000	2	2
Accretion of discounts on short-term investments	−171,000	−566,000	−144,000	96,000	—
Stock-based compensation expense	2	1	1	2	2
Inventory obsolescence expense	3	600,000	2	3	—
Gross profit from sale of rental equipment	−16	−31	−4	−11	−7
(Gain) loss on disposal of property, plant and equipment	−5	16,000	—	—	—
Realized gain on investments	−9,000	0	—	—	—
Trade accounts and notes receivable	−4	7	−6	2	—
Inventories	−8	−11	−11	−2	−8
Other assets	−1	−199,000	442,000	349,000	5
Accounts payable trade	2	3	41,000	−786,000	5
Other liabilities	5	−3	5	−683,000	−5
Net cash used in operating activities	−22	−9	16	−10	−7
Purchase of property, plant and equipment	−8	−4	−4	−1	−3
Investment in rental equipment	−1	−8	−10	−5	−2
Proceeds from the sale of property, plant and equipment	9	9,000	4	54,000	16,000
Proceeds from the sale of rental equipment	14	32	11	12	11
Purchase of short-term investments	0	−32	−25	−450,000	−13
Proceeds from the sale of short-term investments	30	17	11	9	3
Payment for business acquisition	−2	0	—	—	—
Payments received on note receivable related to sale of subsidiary	253,000	0	—	—	—
Cash disposed from sale of subsidiary	0	−1	0	—	—
Net cash provided by investing activities	43	4	−12	14	−3
Debt issuance costs	−398,000	0	−350,000	−211,000	—
Purchase of treasury stock	−615,000	−6	0	−695,000	−7
Net cash used in financing activities	−1	−6	−525,000	−2	−8
Increase (decrease) in cash and cash equivalents	19	−12	3	2	−19
Effect of exchange rate changes on cash	−4,000	−264,000	−457,000	−358,000	96,000

Filings

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