A firm-fixed-price contract is an agreement where a buyer and a seller agree on one nonchanging price for goods or services, so the seller is paid that amount regardless of its actual costs. Think of hiring a contractor to build a deck for a set fee: the contractor bears the risk if materials or labor cost more than expected, while the buyer gets price certainty. For investors, these contracts mean predictable revenue but higher exposure of the seller’s profit margin to cost overruns and efficiency, affecting earnings stability and cash flow forecasts.
small business innovative researchregulatory
A federal program that awards competitive, non-dilutive grants and contracts to small businesses to fund early-stage research and development with commercial potential. Think of it like a government-sponsored seed check that helps a small company turn a technical idea into a working prototype; for investors, participation can signal third-party validation of technology, provide milestone-backed funding, and reduce a company’s need to raise equity during early development.
sole-source awardregulatory
A sole-source award is a contract given to a single supplier without a competitive bidding process, usually because that supplier is uniquely qualified, holds a patented product, or an urgent need makes competition impractical. For investors, it signals a direct, often predictable revenue stream but also concentration risk and potential oversight, similar to a customer choosing one specialist instead of shopping around.
phased array systemstechnical
Phased array systems are collections of many small antennas or transducers whose signals are electronically timed to steer or shape a beam without moving parts. They are used in radar, wireless communications, and medical imaging to aim energy precisely and switch directions quickly, like a crowd of people coordinating to point flashlights in a chosen direction. For investors, they matter because they enable higher performance, faster scanning, and greater flexibility in hardware products and services across several industries.
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HOUSTON--(BUSINESS WIRE)--
Geospace Technologies (NASDAQ: GEOS) today announced that its subsidiary Quantum Technology Sciences secured a firm-fixed-price contract with the U.S. Naval Surface Warfare Center Crane Division, Crane, Indiana.The contract is a Small Business Innovative Research Phase III sole-source award for the Company’s Seismic Acoustic Detection and Ranging Underwater System.The estimated value of this initial contract is $10,843,003 through the end of fiscal year 2027.
Geospace will provide an application of the company’s proprietary acoustic sensor and analytics based on the underlying SADAR® system by deploying passive seismic-acoustic phased array systems.
About Geospace Technologies
Geospace Technologies is a global technology and instrumentation manufacturer specializing in advanced sensing, IOT and highly ruggedized products, which serve smart water, energy exploration, industrial, government and commercial customers worldwide. The Company’s products blend engineering expertise with advanced analytic software to optimize energy exploration, enhance national and homeland security, empower water utility and property managers, and streamline electronic printing solutions. With more than four decades of excellence, the Company’s more than 400 employees across the world are dedicated to engineering and technical quality. Geospace is traded on the U.S. NASDAQ stock exchange under the ticker symbol GEOS. For more information, visit www.geospace.com.
