Geospace Technologies's Q1 revenue falls

Reuters
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Geospace Technologies's Q1 revenue falls

Overview

  • Technology manufacturer's Q1 revenue fell 31% yr/yr, with a net loss reported

  • Smart Water segment revenue declined 21% due to seasonal demand decrease

  • Energy Solutions segment revenue dropped 40%, impacted by lower OBX fleet utilization

Outlook

  • Geospace expects strong long-term demand in Smart Water due to infrastructure needs

  • Company anticipates growth in Intelligent Industrial segment with subscription model

Result Drivers

  • SEASONAL DEMAND - Smart Water segment revenue decreased due to typical seasonal deployment schedules and municipal budget cycles

  • OBX UTILIZATION - Energy Solutions segment revenue impacted by lower utilization of OBX rental fleet

  • CONTRACT MANUFACTURING - Intelligent Industrial segment offset lower sensor demand with increased contract manufacturing services

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Revenue

$25.59 mln

Q1 EPS

-$0.76

Q1 Net Income

-$9.77 mln

Q1 Operating Expenses

$12.94 mln

Q1 Pretax Profit

-$9.68 mln

Press Release: ID:nBw2Bb8jba

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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