Geospace Technologies Corporation entered into a First Amended and Restated Credit Agreement with Woodforest National Bank providing a three-year revolving credit facility with maximum availability of $25.0 million. The facility continues and extends the company’s prior revolving loan and accrues interest at the company’s option of 30‑day Term SOFR + 2.75% or an Alternate Base Rate + 2.75%, with monthly interest payments required.
The agreement is secured by substantially all assets of the borrowers (with certain excluded property) and imposes financial covenants including a minimum consolidated tangible net worth of $85.0 million, minimum liquidity of $10.0 million, a minimum asset coverage ratio of 2.00 to 1.00, and a springing minimum interest coverage ratio of 1.50 to 1.00 tested quarterly under specified conditions.
Disciplined Growth Investors, Inc. filed an amended Schedule 13G reporting ownership of 1,244,769 shares of Geospace Technologies Corp common stock, representing 9.7% of the class. The filer states it has sole voting and sole dispositive power over all reported shares. The filing includes a certification that the holdings were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. The filing lists issuer and filer addresses and is signed by the filer's Chief Operating & Compliance Officer.
Geospace Technologies (GEOS) reported a modest quarterly net income of $0.76 million for the three months ended June 30, 2025, reversing a year-ago quarterly loss of $2.07 million. Quarterly revenue was $24.8 million, down 3.9% from the prior-year quarter, and nine-month revenue fell 20.0% to $80.1 million, driven by lower product and rental activity in the Energy Solutions segment.
Gross profit for the quarter was $7.5 million, down 11.6% year-over-year. Smart Water product sales grew (quarterly product revenue $10.5 million), while Energy Solutions saw a sharp decline in rental utilization and a 42.0% year-to-date revenue decline. The company recognized a $4.6 million gain on sale of property in June 2025. Cash, cash equivalents and short-term investments totaled $25.6 million at June 30, 2025; operating activities used $18.1 million in the nine months. Available borrowing under the revolving credit facility was $14.9 million with no outstanding borrowings.
Geospace Technologies Corporation filed a current report to note that it released its operating results for the third quarter of fiscal year 2025. On August 7, 2025, the company issued a press release detailing these results, which is included as Exhibit 99.1 to the report. The filing clarifies that this earnings information, provided under Item 2.02, is furnished rather than filed, meaning it is not subject to certain liability provisions of the Exchange Act nor automatically incorporated into other securities filings.