Geospace Technologies Earnings Call Transcripts
Fiscal Year 2026
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Q2 revenue rose year-over-year but net loss widened, with Smart Water segment revenue down sharply. Cost-saving measures and new contract wins, including PRM, support long-term growth, while market headwinds and inventory overhang persist.
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Q1 2026 revenue fell 31% year-over-year to $25.6 million, with a net loss of $9.8 million amid inflation, tariffs, and supply chain pressures. All segments saw revenue declines, but new contracts, acquisitions, and a recurring revenue model are expected to support future growth.
Fiscal Year 2025
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Q4 revenue fell year-over-year, but net loss improved; full-year revenue declined with a wider net loss. Smart water segment saw double-digit annual growth, while energy solutions faced headwinds but secured major contracts. Margin pressures from tariffs and manufacturing inefficiencies are expected to ease.
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Q3 revenue was $24.8M with a return to profitability, driven by Smart Water growth and a major $80M+ PRM contract win. The company expanded its security portfolio with the Heartbeat Detector acquisition and maintains strong liquidity and backlog for future growth.
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Q2 revenue fell 26% year-over-year to $18 million, with a net loss of $9.8 million, as energy solutions and industrial segments faced headwinds, but smart water posted record growth. Strong cash, no debt, and a robust backlog support optimism for the second half.
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First quarter revenue was $37.2 million with net income of $8.4 million, reflecting a profitable start despite a year-over-year decline. Smart Water segment saw strong growth, while Energy Solutions and Intelligent Industrial faced lower demand. Liquidity remains strong and the company completed a $7 million stock repurchase.
Fiscal Year 2024
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Fiscal 2024 revenue hit a 10-year high at $135.6M, but non-cash charges led to a net loss; adjusted net income was $10.7M. Strong growth in smart water and industrial products offset oil and gas softness. Zero debt and robust liquidity position maintained.
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Q3 saw a net loss due to oil and gas volatility, but nine-month results remained profitable with strong liquidity and record adjacent market revenue. Aquana and IoT products are driving growth, while the oil and gas segment faces ongoing unpredictability.