[8-K] GEOSPACE TECHNOLOGIES CORP Reports Material Event

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%.

Rhea-AI Filing Summary

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.

Insights

Equity analyst

Geospace is cutting 20% of staff to target $10M annual cost savings, with modest near-term charges.

Geospace Technologies is undertaking a sizable restructuring, combining a Voluntary Early Retirement plan with a Reduction in Force that will trim roughly 20% of its global workforce. Management expects these steps, plus other cost controls, to yield about $10 million in annualized cash savings.

The company anticipates near-term pre-tax charges of $0.6 million in its second fiscal quarter and $0.7 million in its third fiscal quarter ending June 30, 2026. These costs relate mainly to severance, transition, and benefits. The long-term effect will depend on how the smaller workforce supports revenue and operations once these changes are fully implemented.

8-K Event Classification

2 items: 2.05, 9.01

2 items

Item 2.05 Costs Associated with Exit or Disposal Activities Financial

The company committed to an exit plan involving layoffs, facility closures, or restructuring charges.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Annualized cash savings: $10 million Workforce reduction: 20% of global workforce Termination costs Q2: $0.6 million +1 more

4 metrics

Annualized cash savings $10 million Expected from organizational change plan and cost-containment measures

Workforce reduction 20% of global workforce Result of Voluntary Early Retirement plan and Reduction in Force

Termination costs Q2 $0.6 million Expected in second fiscal quarter

Restructuring costs Q3 $0.7 million Expected in third fiscal quarter ending June 30, 2026

Key Terms

Voluntary Early Retirement plan, Reduction in Force, annualized cash savings, termination costs

4 terms

Voluntary Early Retirement plan financial

"included a Voluntary Early Retirement plan available to eligible qualifying employees"

Reduction in Force financial

"as well as a Reduction in Force. This organizational change plan"

A reduction in force is an organized cutback in a company's workforce—commonly known as layoffs—intended to lower costs or reshape operations. Like trimming a household budget or pruning a garden, it can improve long-term financial health but often brings one-time costs, reduced capacity, and morale or execution risks that can affect revenue, expenses, and the company’s stock performance. Investors watch these moves for signals about future profitability and operational stability.

annualized cash savings financial

"measures are expected to produce approximately $10 million of annualized cash savings"

termination costs financial

"the Company expects to incur $0.6 million of termination costs in its second fiscal quarter"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What restructuring did Geospace Technologies (GEOS) announce in this 8-K?

Geospace Technologies announced an organizational change plan combining a Voluntary Early Retirement program with a Reduction in Force. Together, these actions will cut its global workforce by about 20%, aiming to streamline operations and improve the company’s long-term cost structure and profitability.

How much in annual cost savings does Geospace Technologies (GEOS) expect from the workforce reduction?

Geospace Technologies expects approximately $10 million of annualized cash savings from the workforce reduction and related cost-containment measures. These savings are intended to improve ongoing profitability after the restructuring, following initial severance and transition expenses recognized over upcoming fiscal quarters.

What near-term charges will Geospace Technologies (GEOS) record for this restructuring?

Geospace Technologies expects about $0.6 million of termination costs in its second fiscal quarter and $0.7 million in its third fiscal quarter. These charges primarily cover employee transition expenses, severance payments, and employee benefits tied directly to the announced workforce reduction initiatives.

How many employees are affected by Geospace Technologies’ (GEOS) organizational change plan?

The plan will reduce Geospace Technologies’ global workforce by approximately 20%. The company described this cut as the result of a Voluntary Early Retirement plan for eligible employees combined with a Reduction in Force aimed at improving efficiency and aligning its cost base with business needs.

When will Geospace Technologies (GEOS) recognize most restructuring costs mentioned in the filing?

Geospace Technologies expects to incur $0.6 million of termination costs in its second fiscal quarter and $0.7 million in its third fiscal quarter ending June 30, 2026. These periods will capture most transition, severance, and benefit expenses linked to the workforce reduction.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/06/2026 - 04:47 PM Learn about SEC filing dates

false 0001001115 0001001115 2026-04-02 2026-04-02

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 2, 2026

GEOSPACE TECHNOLOGIES CORPORATION

(Exact name of Registrant as Specified in Its Charter)

Texas	001-13601	76-0447780
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
7007 Pinemont, Houston, Texas		77040
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: (713) 986-4444

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock		GEOS		The NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.05. Costs Associated with Exit or Disposal Activities

Geospace Technologies Corporation (the "Company") executive management has been evaluating opportunities to operate more efficiently and profitably by optimizing the Company's cost structure. At the end of the second quarter of fiscal year 2026, the Company’s executive management implemented an organizational change plan, which included a Voluntary Early Retirement plan available to eligible qualifying employees as well as a Reduction in Force. This organizational change plan will result in approximately 20% reduction in the global workforce, and together with cost-containment measures are expected to produce approximately $10 million of annualized cash savings.

In connection with the workforce reduction, the Company expects to incur $0.6 million of termination costs in its second fiscal quarter and incur $0.7 million of costs in its third fiscal quarter ending June 30, 2026.  These charges primarily relate to employee transition, severance payments, and employee benefits

Item 9.01. Financial Statements and Exhibits

Exhibit 104 Cover Page Interactive Data (embedded within the Inline XBRL document).         

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	GEOSPACE TECHNOLOGIES CORPORATION
Date: April 6, 2026
	By:	/s/ Robert L. Curda
		Robert L. Curda
		Executive Vice President, Chief Financial Officer & Secretary

Filing Exhibits & Attachments

4 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 11.2 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 15.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.3 KB