Geospace Technologies Reports 20% Drop in Nine-Month Revenue, Swings to Net Loss of $0.7 Million

Reuters
08/08
Geospace Technologies Reports 20% Drop in Nine-Month Revenue, Swings to Net Loss of $0.7 Million

Geospace Technologies Corp. $(GEOS)$ announced its financial results for the third quarter and nine-month period ended June 30, 2025. The company reported a slight decrease in revenue for the three-month period, with $24.8 million compared to $25.8 million in the same quarter of the previous year. However, the company achieved a net income of $0.8 million for the quarter, reversing a net loss of ($2.1) million recorded in the corresponding period of the prior year. For the nine-month period ended June 30, 2025, Geospace's revenue was $80.1 million, down from $100.2 million during the same period in the previous year. The company experienced a net loss of ($0.7) million for the nine months, a decline from a net income of $6.3 million in the year-ago period. In terms of business updates, the company's Energy Solutions team secured a significant contract to provide nearly 500km of the OptoSeis® Permanent Reservoir Monitoring system for a project off the coast of Rio de Janeiro, Brazil. Additionally, the team achieved its first sale of the newly launched Pioneer™ ultralight land node for seismic surveys to a Canadian firm, with delivery expected before the fiscal year ends. The company also completed the sale of assets related to its streamer recovery device product line to Seis Gear, Inc. in June 2025.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Geospace Technologies Corp. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250807892994) on August 07, 2025, and is solely responsible for the information contained therein.

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