Welcome to our dedicated page for Geospace Technologies news (Ticker: GEOS), a resource for investors and traders seeking the latest updates and insights on Geospace Technologies stock.
Geospace Technologies Corp (GEOS) designs cutting-edge seismic solutions for energy exploration and geophysical monitoring. This page aggregates official news and press releases from the Houston-based innovator, known for its cableless nodal systems and global manufacturing footprint.
Key Resource for Industry Stakeholders: Access timely updates on GEOS's technological advancements, financial performance, and strategic initiatives. Investors and analysts will find essential information about seismic instrumentation developments, reservoir monitoring innovations, and international project deployments.
Comprehensive Coverage Includes: Quarterly earnings announcements, new product launches, major equipment contracts, and executive leadership updates. Content reflects GEOS's work in both land and marine environments across oil, gas, and renewable energy sectors.
Stay Informed: Bookmark this page for verified updates directly from Geospace Technologies and trusted financial news sources. Check regularly for insights into seismic technology trends and the company's evolving market position.
Geospace Technologies Corporation (NASDAQ: GEOS) announced that its subsidiary, Quantum Technology Sciences, Inc., secured a $1.5 million contract from the Defense Advanced Projects Research Agency (DARPA). This contract, under the Phase II Small Business Innovative Research program, aims to enhance SADAR® capabilities for monitoring energy sources using innovative seismic-acoustic technologies. The project seeks to improve surveillance in challenging land-water transition zones, utilizing passive technologies for persistent monitoring without detection. Geospace's extensive experience in seismic data acquisition will bolster this initiative.
Geospace Technologies Corporation (NASDAQ: GEOS) reported Q1 2023 revenue of $31.1 million, a significant increase from $18.0 million in Q1 2022. The net loss narrowed to $0.1 million or $(0.01) per diluted share, compared to a net loss of $6.8 million or $(0.52) per share a year ago. Notably, this marks the highest quarterly revenue since 2014, largely driven by the Oil and Gas segment, which contributed 65% of total revenue. Management anticipates continued growth with a focus on operational efficiency and capitalizing on market demand for their products.
Geospace Technologies (NASDAQ: GEOS) announced the release of its first quarter 2023 financial results on February 8, 2023, after market close. A conference call will follow on February 9, 2023, at 10:00 a.m. Eastern Time. Investors can join via phone; U.S. participants can call 800-274-8461, while international callers can reach 203-518-9843. The company specializes in vibration sensing and ruggedized products for energy, industrial, and governmental sectors, boasting over 500 employees globally. Access to a replay of the call will be available for 60 days on their Investor Relations page.
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