GEOSPACE TECHNOLOGIES CORP (GEOS) SEC Filings

Geospace Technologies Corporation reported significantly weaker results for the quarter ended June 30, 2026. Total revenue was $15.8 million, down from $24.8 million a year earlier, mainly from lower Hydroconn® Smart Water sales and reduced Energy Solutions activity. Gross profit declined to $0.5 million from $7.5 million, and the company posted a net loss of $9.7 million, or $(0.75) per share, versus earnings of $0.06 per share in the prior-year quarter.

For the first nine months of fiscal 2026, revenue fell to $61.1 million from $80.1 million and the net loss widened to $30.5 million. Operating cash outflow was $27.3 million, reducing cash and cash equivalents to $2.8 million (plus $2.0 million restricted) and stockholders’ equity to $95.7 million. Management highlights approximately $98 million of unsatisfied performance obligations, largely from a long-term PRM contract that generated $11.4 million in deferred contract liabilities, and access to an undrawn $25 million revolving credit facility. A workforce reduction of about 20% is expected to yield roughly $10 million of annualized cash savings.

Geospace Technologies reported weak results for the third quarter of fiscal 2026 ended June 30. Revenue fell to $15.8 million from $24.8 million, and the company swung to a net loss of $9.7 million, or $(0.75) per diluted share, from net income of $0.8 million, or $0.06 per share, a year earlier. For the first nine months, revenue declined to $61.1 million from $80.1 million, with net loss widening to $30.5 million, or $(2.37) per share.

All operating segments saw lower sales. Smart Water revenue dropped 56.1% year over year in the quarter to $4.6 million, mainly from reduced demand for Hydroconn connectors, despite the launch of the new Series V connector. Energy Solutions revenue decreased to $5.9 million and Intelligent Industrial to $5.2 million, reflecting softer demand for seismic equipment, industrial sensors and contract manufacturing.

Operating activities used $27.3 million of cash over nine months, reducing cash and cash equivalents to $2,833 thousand at June 30, 2026, though working capital remained $40.6 million and the company stayed in compliance with loan covenants and retained full access to its credit facility. Offsetting weaker results, subsidiary Quantum Technology Sciences secured a $10.8 million firm-fixed price contract from the U.S. Navy, expected to run through December 2027, and a Department of Homeland Security maintenance contract was extended.

Vanguard Capital Management filed an amended ownership report for Geospace Technologies Corp common stock. Vanguard reports beneficial ownership of 596,679 shares, representing 4.61% of the outstanding common stock, which is now classified as ownership of 5 percent or less of the class.

Vanguard has sole voting power over 81,612 shares and sole dispositive power over 596,679 shares, with no shared voting or dispositive power. The position reflects securities held across various Vanguard-affiliated entities and managed funds, where Vanguard exercises dispositive and/or voting authority, and no other single person’s interest exceeds 5%.

Disciplined Growth Investors, Inc. reports beneficial ownership of 1,101,426 shares of Geospace Technologies Corp common stock, representing 8.5% of the class as of 03/31/2026. The filing states the fund holds sole voting power and sole dispositive power over all 1,101,426 shares. This amendment to the Schedule 13G/A updates the ownership disclosure and is signed by the filer’s Chief Operating & Compliance Officer on 05/15/2026.

Geospace Technologies reported weaker results for the quarter ended March 31, 2026, posting a net loss of $11.0 million, or $0.86 per share. Quarterly revenue rose to $19.7 million from $18.0 million, driven by Energy Solutions, including $3.6 million of initial revenue on a permanent reservoir monitoring (PRM) contract.

For the six-month period, revenue fell to $45.3 million from $55.2 million, and net loss widened sharply to $20.8 million from $1.4 million, mainly due to prior-year high-margin ocean-bottom node sales and a steep decline in Smart Water sales. Cash and cash equivalents decreased to $13.4 million from $26.3 million, though the company has no debt and a $25 million undrawn credit facility. Geospace implemented a workforce reduction of about 20%, targeting approximately $10 million in annualized cash savings, and expects around $35 million from its PRM customer by the end of the calendar year.

Geospace Technologies reported a wider loss for its second quarter ended March 31, 2026. Quarterly revenue edged up to $19.7 million from $18.0 million, but net loss deepened to $11.1 million, or $(0.86) per diluted share, from a loss of $9.8 million, or $(0.77).

For the first six months of fiscal 2026, revenue fell to $45.3 million from $55.2 million, while net loss expanded sharply to $20.8 million from $1.4 million. Smart Water revenue dropped 60.6% in the quarter as customers worked down elevated Hydroconn inventories, while Energy Solutions quarterly revenue rose 272.1% on Permanent Reservoir Monitoring activity and Pioneer deliveries. Intelligent Industrial revenue grew modestly by 7.1% in the quarter.

The company is cutting costs through a voluntary early retirement program and a workforce reduction of about 20%, targeting roughly $12 million in annualized savings and expecting about $1.3 million in restructuring charges across the second and third quarters. Geospace used $16.7 million of operating cash over six months but ended March 31, 2026 with $13.4 million in cash and $25.0 million of undrawn credit availability.

Geospace Technologies Corp reports that Vanguard Capital Management beneficially owned 658,123 shares of Common Stock, representing 5.10% of the class as of 03/31/2026. The filer reports sole dispositive power over 658,123 shares and sole voting power over 81,091 shares. The filing states the position reflects holdings across Vanguard Capital Management LLC and affiliated business divisions, including securities held by Vanguard funds and managed accounts.

Geospace Technologies Corporation is implementing an organizational change plan that includes a Voluntary Early Retirement program and a Reduction in Force that together will reduce its global workforce by approximately 20%. These actions, alongside other cost-containment measures, are expected to generate about $10 million of annualized cash savings.

In connection with the workforce reduction, Geospace expects to record approximately $0.6 million of termination costs in its second fiscal quarter and about $0.7 million of additional costs in its third fiscal quarter ending June 30, 2026, mainly for employee transition, severance, and benefits.

Geospace Technologies Corp ownership disclosure: The Vanguard Group amended its Schedule 13G to report beneficial ownership of 0 shares (0%) of Common Stock. The amendment notes an internal realignment effective January 12, 2026 under SEC Release No. 34-39538, with certain Vanguard subsidiaries reporting separately.