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 declined year-over-year, with a net loss narrowing from the prior year. Smart water showed strong annual growth, while energy solutions faced headwinds from market volatility and tariffs. Strategic wins and acquisitions support future growth, with a strong backlog entering next year.
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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 sharply year-over-year, with a widened net loss, mainly due to energy segment weakness. Smart water achieved record growth, led by Hydrocon connectors, while Aquana remains a small but promising contributor. Strong balance sheet and 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.