Geospace Technologies Corp
NASDAQ:GEOS
Geospace Technologies Corp
Geospace Technologies Corp. designs and manufactures instruments and equipment used in the oil and gas industry for acquisition and processing of seismic data. The company is headquartered in Houston, Texas and currently employs 649 full-time employees. The Company’s segments include Oil and Gas Markets, Adjacent Markets and Emerging Markets. The Oil and Gas Markets segment products include wireless seismic data acquisition systems, reservoir characterization products and services, and traditional seismic exploration products such as geophones, hydrophones, leader wire, connectors, cables, marine streamer retrieval and steering devices and various other seismic products. The Adjacent Markets segment products include imaging equipment, water meter products, offshore cables, and seismic sensors used for vibration monitoring and geotechnical applications such as mine safety applications and earthquake detection. The Emerging Markets segment provides seismic products targeted at the border and perimeter security markets.
Geospace Technologies Corp. designs and manufactures instruments and equipment used in the oil and gas industry for acquisition and processing of seismic data. The company is headquartered in Houston, Texas and currently employs 649 full-time employees. The Company’s segments include Oil and Gas Markets, Adjacent Markets and Emerging Markets. The Oil and Gas Markets segment products include wireless seismic data acquisition systems, reservoir characterization products and services, and traditional seismic exploration products such as geophones, hydrophones, leader wire, connectors, cables, marine streamer retrieval and steering devices and various other seismic products. The Adjacent Markets segment products include imaging equipment, water meter products, offshore cables, and seismic sensors used for vibration monitoring and geotechnical applications such as mine safety applications and earthquake detection. The Emerging Markets segment provides seismic products targeted at the border and perimeter security markets.
Revenue Drop: Geospace reported Q1 revenue of $25.6 million, down sharply from $37.2 million the previous year.
Net Loss: The company posted a net loss of $9.8 million, compared to net income of $8.4 million in Q1 last year.
Segment Weakness: All business segments (Smart Water, Energy Solutions, Intelligent Industrial) saw year-over-year revenue declines, driven by lower demand and challenging market conditions.
Major Contract: The $90 million Petrobras PRM contract will be recognized over several quarters starting Q3, with goods delivery expected by Q1 2027.
GeoVox Ramp: The newly acquired GeoVox Security began shipping heartbeat detection units in Q1, and management expects demand to grow in 2026.
Market Challenges: Inflation, tariffs, and supply chain issues pressured margins and increased costs, but the company is focused on operational discipline and strategic investment.
