olivLaw · US equity research
Geospace Technologies Corporation GEOS
Measuring & Controlling Devices, NEC · SIC 3829 · Vertical: Measuring & Controlling Devices, NEC (SIC 3829)
Geospace Technologies makes seismic instruments for the oil and gas industry, connectors and valves for smart water management, and security systems for government customers. The company is diversifying away from energy, but its latest results show that both energy and water are under pressure. Revenue for the first nine months of fiscal 2026 was 61.1 million USD, and the net loss was 30.5 million USD.
At the close of 04 Nov 2026, Geospace Technologies Corporation (GEOS) stock was 3.94 USD (−3.43% on the day), with market capitalisation 51.0 m USD, beta 1.60, 52-week range 3.94–28.41 USD. Latest reported quarter (Q3 2026): revenue of 15.8 m USD (−36.4% YoY), net income of -9.7 m USD (−1,377.4% YoY), diluted EPS -0.75 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 28.8
- oversold (≤ 30)
- Bollinger (20, 2)
- 4.00 – 4.86
- below the lower band · %B -0.07 · band width 19.5%
- SMA 50 / 200
- 4.81 / 8.22
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.20 / -0.18
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −17.1% | −1.1% | −16.0 pp | — |
| 3 months | −46.4% | −0.5% | −45.9 pp | — |
| 6 months | −57.8% | +4.4% | −62.2 pp | — |
| Year to date | −76.7% | +12.3% | −89.0 pp | — |
| 1 year | −84.8% | +13.5% | −98.4 pp | −30.9% |
| 3 years | −66.4% | +76.4% | −142.8 pp | +16.9% |
| 5 years | −58.1% | +63.7% | −121.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 35.4 m | 37.2 m | 18.0 m | 24.8 m | 30.7 m | 25.6 m | 19.7 m | 15.8 m |
| Cost of revenue | 19.5 m | 17.1 m | 16.3 m | 17.3 m | 27.3 m | 22.9 m | 19.0 m | 15.3 m |
| Gross profit | 15.9 m | 20.1 m | 1.7 m | 7.5 m | 3.5 m | 2.7 m | 694.0 k | 496.0 k |
| Research & development | 4.8 m | 4.9 m | 5.2 m | 4.2 m | 4.5 m | 4.5 m | 4.8 m | 3.9 m |
| SG&A | 7.2 m | 7.4 m | 6.8 m | 7.5 m | 8.1 m | 8.3 m | 7.4 m | 6.7 m |
| Operating income | 1.2 m | 7.8 m | -10.3 m | 369.0 k | -9.2 m | -10.2 m | -11.4 m | -10.1 m |
| Depreciation & amortisation | — | 2.8 m | 2.5 m | 2.4 m | 2.5 m | 2.6 m | 2.7 m | 2.6 m |
| Interest expense | 43.0 k | 44.0 k | 43.0 k | 44.0 k | 38.0 k | -37.0 k | 35.0 k | 40.0 k |
| Pre-tax income | -12.9 m | 8.5 m | -9.9 m | 828.0 k | -8.7 m | -9.7 m | -11.1 m | -9.7 m |
| Income tax | 5.0 k | 113.0 k | -126.0 k | 68.0 k | 333.0 k | 81.0 k | -12.0 k | -1.0 k |
| Net income | -12.9 m | 8.4 m | -9.8 m | 760.0 k | -9.1 m | -9.8 m | -11.0 m | -9.7 m |
| Diluted EPS | -1.04 ≈ | 0.65 | -0.77 | 0.06 | -0.71 ≈ | -0.76 | -0.86 | -0.75 |
| Operating cash flow | -1.6 m | -11.5 m | -1.9 m ≈ | -4.7 m ≈ | -4.1 m | -15.1 m | -1.6 m ≈ | -10.7 m ≈ |
| Capex | 280.0 k | 3.2 m | 1.2 m ≈ | 1.4 m ≈ | 2.1 m | 2.5 m | 535.0 k ≈ | 306.0 k ≈ |
| Share repurchases | 3.4 m | 197.0 k | 418.0 k ≈ | 0 ≈ | 0 | 0 | 0 ≈ | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 75.7 m | 95.8 m | 87.8 m | 94.9 m | 89.3 m | 124.5 m | 135.6 m | 110.8 m |
| Revenue YoY | +2.7% | +26.5% | −8.3% | +8.0% | −5.9% | +39.5% | +8.9% | −18.3% |
| Net income | -19.2 m | -146.0 k | -19.2 m | -14.1 m | -22.9 m | 12.2 m | -6.6 m | -9.7 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | −153.9% | unavailable |
| Diluted EPS | -1.45 | -0.01 | -1.42 | -1.05 | -1.76 | 0.92 | -0.50 | -0.76 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | −154.3% | unavailable |
| net % | -25.4% | -0.2% | -21.9% | -14.8% | -25.6% | 9.8% | -4.9% | -8.8% |
| Free cash flow | -12.1 m | 3.7 m | 15.2 m | -10.4 m | -11.2 m | 11.6 m | -12.9 m | -30.2 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 30 Sept 2025
- Cash
- 26.3 m USD
- Financial debt
- 0 USD
- Net debt
- -26.3 m USD
- Equity
- 125.5 m USD
- Total assets
- 153.0 m USD
- Debt / equity
- 0.00x
- Current ratio
- 3.62x
- ROE
- -7.5%
- ROA
- -6.4%
- FCF margin
- -27.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 87.8 m | 94.9 m | 89.3 m | 124.5 m | 135.6 m | 110.8 m | SEC (XBRL)· 21 Nov 2025verified |
| Cost of revenue | 64.4 m | 78.6 m | 71.2 m | 72.8 m | 83.0 m | 77.9 m | SEC (XBRL)· 21 Nov 2025verified |
| Gross profit | 23.4 m | 16.3 m | 18.0 m | 51.7 m | 52.6 m | 32.9 m | SEC (XBRL)· 21 Nov 2025verified |
| Research & development | 16.6 m | 14.8 m | 18.1 m | 15.9 m | 16.3 m | 18.9 m | SEC (XBRL)· 21 Nov 2025verified |
| SG&A | 23.1 m | 21.9 m | 23.5 m | 26.0 m | 26.6 m | 29.8 m | SEC (XBRL)· 21 Nov 2025verified |
| Operating income | -18.0 m | -16.9 m | -23.1 m | 11.3 m | 7.1 m | -11.3 m | SEC (XBRL)· 21 Nov 2025verified |
| Depreciation & amortisation | 23.7 m | 20.8 m | 19.6 m | 16.2 m | 14.8 m | 10.1 m | SEC (XBRL)· 21 Nov 2025verified |
| EBITDA | 5.7 m ≈ | 3.9 m ≈ | -3.6 m ≈ | 27.6 m ≈ | 21.9 m ≈ | -1.1 m ≈ | SEC (XBRL)· 21 Nov 2025derived |
| Interest expense | 38.0 k | — | 65.0 k | 134.0 k | 187.0 k | 169.0 k | SEC (XBRL)· 21 Nov 2025verified |
| Pre-tax income | -16.6 m | -13.5 m | -22.7 m | 12.6 m | -6.5 m | -9.3 m | SEC (XBRL)· 21 Nov 2025verified |
| Income tax | 2.6 m | 578.0 k | 173.0 k | 363.0 k | 114.0 k | 388.0 k | SEC (XBRL)· 21 Nov 2025verified |
| Net income | -19.2 m | -14.1 m | -22.9 m | 12.2 m | -6.6 m | -9.7 m | SEC (XBRL)· 21 Nov 2025verified |
| Diluted EPS | -1.42 | -1.05 | -1.76 | 0.92 | -0.50 | -0.76 | SEC (XBRL)· 21 Nov 2025verified |
| Weighted average diluted shares | 13.5 m | 13.4 m | 13.0 m | 13.2 m | 13.2 m | 12.8 m | SEC (XBRL)· 21 Nov 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 32.7 m | 14.1 m | 16.1 m | 18.8 m | 6.9 m | 26.3 m | SEC (XBRL)· 21 Nov 2025verified |
| Receivables | 13.6 m | 12.2 m | 12.7 m | 20.2 m | 14.6 m | 12.7 m | SEC (XBRL)· 21 Nov 2025verified |
| Inventories | 16.9 m | 16.2 m | 20.0 m | 18.4 m | 26.2 m | 30.9 m | SEC (XBRL)· 21 Nov 2025verified |
| Current assets | 64.9 m | 60.0 m | 60.0 m | 75.8 m | 89.4 m | 88.5 m | SEC (XBRL)· 21 Nov 2025verified |
| Property, plant & equipment, net | 29.9 m | 30.0 m | 26.6 m | 24.0 m | 23.2 m | 23.2 m | SEC (XBRL)· 21 Nov 2025verified |
| Goodwill | 4.3 m | 5.1 m | 736.0 k | 736.0 k | 736.0 k | 1.3 m | SEC (XBRL)· 21 Nov 2025verified |
| Intangibles (excl. goodwill) | 8.3 m | 7.3 m | 5.6 m | 4.8 m | 1.6 m | 5.2 m | SEC (XBRL)· 21 Nov 2025verified |
| Total assets | 186.8 m | 163.9 m | 135.1 m | 153.0 m | 152.2 m | 153.0 m | SEC (XBRL)· 21 Nov 2025verified |
| Accounts payable | 1.6 m | 6.4 m | 5.6 m | 6.7 m | 8.0 m | 10.4 m | SEC (XBRL)· 21 Nov 2025verified |
| Long-term debt | — | — | 0 | 0 | 0 | 0 | SEC (XBRL)· 21 Nov 2025verified |
| Current liabilities | 10.3 m | 15.2 m | 12.6 m | 19.8 m | 17.2 m | 24.4 m | SEC (XBRL)· 21 Nov 2025verified |
| Total liabilities | 25.9 m | 21.5 m | 13.4 m | 20.3 m | 17.6 m | 27.5 m | SEC (XBRL)· 21 Nov 2025verified |
| Equity | 161.0 m † | 142.5 m † | 121.6 m † | 132.7 m † | 134.6 m † | 125.5 m † | SEC (XBRL)· 21 Nov 2025verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 18.1 m | -7.2 m | -10.0 m | 15.6 m | -9.1 m | -22.2 m | SEC (XBRL)· 21 Nov 2025verified |
| Capex | 2.9 m | 3.2 m | 1.1 m | 4.0 m | 3.9 m | 8.0 m | SEC (XBRL)· 21 Nov 2025verified |
| Free cash flow | 15.2 m ≈ | -10.4 m ≈ | -11.2 m ≈ | 11.6 m ≈ | -12.9 m ≈ | -30.2 m ≈ | SEC (XBRL)· 21 Nov 2025derived |
| Investing cash flow | -4.1 m | -3.3 m | 14.1 m | -11.9 m | 3.8 m | 42.7 m | SEC (XBRL)· 21 Nov 2025verified |
| Financing cash flow | -78.0 k | -8.2 m | -1.7 m | -525.0 k | -6.4 m | -1.0 m | SEC (XBRL)· 21 Nov 2025verified |
| Share repurchases | — | 6.8 m | 695.0 k | 0 | 6.4 m | 615.0 k | SEC (XBRL)· 21 Nov 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 50.0% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 51.0 m USD
Key indicators
Coverage and freshness
Score by group
50% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the base of the ratio is not positive
- Peers: EV/EBITDAunavailable · the base of the ratio is not positive
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 50.0% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -37.1% | 0 (on a fixed band) | 21% |
| Net margin · Quality | -43.1% | 13 (vs peers) | 13% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 7.5% | 62 (on a fixed band) | 17% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -539.6x | 0 (on a fixed band) | 13% |
| Current ratio · Balance sheet | 2.4x | 100 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -72.4% | 0 (on a fixed band) | 17% |
| Shareholder yield (distributions) · Returns | 0.0% | 0 (on a fixed band) | 13% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet40/100 · 2/3 factors with a value
- Growth· partial62/100 · 1/2 factors with a value
- Quality5/100 · 2/3 factors with a value
- Returns· partial0/100 · 1/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
GEOSPACE TECHNOLOGIES CORP (GEOS). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 110.8 m USD in 2025; YoY growth -18.3%; net margin -43.1%; ROE -34.4%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (score weight coverage: 50.0% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 2.4x
What contradicts it
- ROIC: -37.1%
- Net margin: -43.1%
- Interest coverage: -539.6x
- FCF yield: -72.4%
- Shareholder yield (distributions): 0.0%
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Measuring & Controlling Devices, NEC (SIC 3829) · same industry (4-digit SIC) · compared with 9 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| TMOThermo Fisher Scientific Inc. | 261.6 bn | 37.3 | 13.4% | 14.9% | +3.9% | +20% / +42% |
| ROKRockwell Automation, Inc. | 49.3 bn | 41.6 | 34.5% | 13.4% | +0.9% | +12% / +61% |
| TRMBTrimble Inc. | 12.4 bn | — | -2.9% | -4.1% | −2.6% | −33% / +17% |
| ONTOOnto Innovation Inc. | 9.1 bn | 69.4 | 6.8% | 11.8% | unavailable | +29% / +31% |
| MIRMirion Technologies, Inc. | 336.9 m | 159.4 | 1.6% | 2.7% | +7.5% | −31% / +101% |
| OWLTOwlet, Inc. | 132.4 m | — | — | -7.7% | +35.4% | −66% / −10% |
| GEOSGeospace Technologies Corp | 51.0 m | — | -34.4% | -43.1% | −18.3% | −85% / −66% |
| BCHTBirchtech Corp. | 28.9 m | — | -134.4% | -21.7% | +1.3% | −75% / −78% |
| QSIQuantum-Si Incorporated | — | — | -49.1% | -6,138.3% | −20.3% | −9% / −20% |
| NIKINiki BioSolutions, Inc. | — | — | -6.2% | — | −66.7% | −87% / −90% |
1- and 3-year price returns: for GEOS from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Geospace Technologies makes seismic instruments for the oil and gas industry, connectors and valves for smart water management, and security systems for government customers. The company is diversifying away from energy, but its latest results show that both energy and water are under pressure. Revenue for the first nine months of fiscal 2026 was 61.1 million USD, and the net loss was 30.5 million USD.
SWOT
Strengths
- The company has a balance sheet with no long-term debt and a long history in ruggedized engineering 1. Its water and security products give it a more diversified revenue base than energy alone 1.
- Hydroconn products are well integrated into utilities' automated meter reading systems, and the company recently released a new connector version 13.
- The Heartbeat Detector technology has been validated by U.S. national laboratories, which could help sales to government agencies 1.
Weaknesses
- Revenue is highly volatile, and profitability depends on a few large seismic equipment contracts 1.
- Gross margins have fallen due to price competition and raw material costs, and the net loss has widened in recent quarters 13.
- Project delays and scope changes have reduced energy segment revenue, which makes forecasting difficult 3.
Opportunities
- If federal water infrastructure funding turns into orders, the Smart Water segment could recover 1.
- Security contracts such as the one with the U.S. Navy could open further demand for Quantum systems 3.
- New connector and valve versions could expand the company's share of the metering market if utilities adopt them 3.
Threats
- A further fall in oil prices could cut customer budgets in energy and directly reduce revenue 1.
- Low-cost Chinese competitors and tariffs could compress margins and weaken product competitiveness 1.
- Geopolitical conflicts in Russia, Ukraine and the Middle East could disrupt supply chains and customer demand 13.
Risks
- Dependence on the energy markethigh
Demand for seismic equipment depends on oil and gas operators' investment, which falls when prices fall 1.
- Recurring net losseshigh
The company has reported net losses in the recent period, which could limit investment capacity if the trend continues 3.
- Tariffs and trade restrictionsmedium
Raw materials from China are subject to tariffs, and changes in trade policy could raise costs and reduce competitiveness 1.
- Geopolitical exposuremedium
Revenue from outside the U.S. is a large share of the total, and conflicts and sanctions could affect deliveries and collections 1.
- Project delayslow
Production delays and scope changes could postpone expected revenue, especially for the PRM contract 3.
Investment thesis
What would need to be true (bull case)
- If the Smart Water segment recovers after the drop in Hydroconn demand and utilities adopt the new products, revenue could become more stable 13.
- Government security contracts and federal water funding could provide more predictable revenue than the energy market 13.
- A balance sheet with no long-term debt gives the company flexibility to get through weak periods without restructuring 1.
What would break the thesis
- If demand stays weak in both energy and water at the same time, losses could continue and limit investment capacity 3.
- Price competition and tariff costs could keep margins under pressure even if revenue improves slightly 13.
- Revenue depends on a few large contracts, and delays or scope changes could quickly weaken quarterly results 3.
What to watch
- Delivery of the PRM contract and Energy Solutions revenue trendQ3 fiscal 2027
- Recovery of Hydroconn connector demand in Smart Waternext quarterly report
- Execution of the U.S. Navy contract through the Quantum subsidiaryDecember 2027
- Trend in net loss and gross margins in the next annual reportnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Geospace designs and manufactures technology for three segments: Smart Water, Energy Solutions and Intelligent Industrial. Its seismic products are sold to the energy industry to locate and monitor hydrocarbon reservoirs, but the company also sells Hydroconn connectors, remote shutoff valves, IoT platforms and detection systems for security. In fiscal 2025, revenue from customers outside the U.S. was approximately 37% of the total 1. The company says non-energy products have grown to nearly half of revenue 1.
The stated strategy focuses on research and development, acquisitions outside the energy industry and a balance sheet with no long-term debt 1. In August 2025 the company acquired Geovox, which owns the Heartbeat Detector technology, for 1.7 million USD in cash plus contingent earn-out payments of up to 3.3 million USD over four years 1.
Customers differ by segment: municipalities and utilities buy meter cables and connectors, seismic contractors buy acquisition equipment, and government agencies buy perimeter security systems 1. Diversification is meant to reduce reliance on any single customer type 1.
Segments
Smart Water
The segment includes Hydroconn connectors for automated meter reading and Aquana products, meaning remote shutoff valves and an IoT platform for properties. Product revenue reached 35.8 million USD in fiscal 2025 1, but fell to 4.6 million USD in the third quarter of fiscal 2026 due to lower demand for the Hydroconn Series III connector 3.
Energy Solutions
This is the segment with the highest cyclical risk. Total revenue was 50.7 million USD in fiscal 2025, down from the prior year, due to lower sales of ocean bottom nodes 1. Third-quarter fiscal 2026 revenue was 5.9 million USD, and a PRM contract is expected to be delivered in the third quarter of fiscal 2027 3.
Intelligent Industrial
The segment covers industrial sensors, imaging equipment and contract manufacturing, plus the Quantum security line. Revenue was 24.0 million USD in fiscal 2025 1. A 10.8 million USD contract with the U.S. Navy, obtained through the Quantum subsidiary, is expected to be completed by December 2027 3.
Market context
The energy market depends on oil prices and operators' capital budgets, and demand for seismic equipment falls quickly when those budgets shrink 1. The water market benefits from federal programs such as the Water Infrastructure Finance Act, which provides 7.5 billion USD for water infrastructure projects 1. The government security market is smaller but steadier, with contracts usually awarded by public agencies.
In the short term, quarterly results show weak demand in several markets at once. The company cited geopolitical uncertainty, project timing, sales volumes and customer access to capital as factors affecting revenue 3.
Trends
- Modernization of water meteringmixed
Municipalities and utilities are moving to automated meter reading. Sales of Hydroconn AMR connectors grew strongly over the last decade 1, but demand has recently declined 3.
- Federal funding for water infrastructuretailwind
U.S. federal programs could support demand for smart water technology if projects receive funding on schedule 1.
- Energy investment cycleheadwind
Oil and gas operators' investment depends on oil prices. When prices fall, demand for seismic equipment falls, and the company has already seen this effect 1.
- Tariffs and trade restrictionsheadwind
Tariffs on raw materials from China have raised production costs, and uncertainty about trade policy remains high 1.
Competitive position
In Smart Water, competitors include Mueller, Sensus and Badger for valve and meter combinations, and Water Hero, Moen and Watercop for property products 1. In energy, Sercel, Dynamic Technologies and INOVA are the main rivals for seismic equipment, and Chinese manufacturers offer lower-cost products 1.
In security, competition comes from large integrators such as Boeing, Lockheed Martin and Elbit Systems, and from fiber-optic sensor suppliers. For human-presence detection the main rival is Ensco with its MicroSearch system 1. The company argues its products are more flexible, but its competitors have far larger financial and technical resources 1.
- Sercel
A division of Viridien and the main competitor in seismic equipment, including wireless and ocean bottom systems 1.
- Mueller
Competitor in AMI/AMR valve and meter systems for the utility market 1.
- BoeingBA
Large integrator of perimeter security systems that can include similar sensor technologies 1.
- Ensco
Provider of the MicroSearch system, a direct rival of Heartbeat Detector in human-presence detection 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report03 Nov 2026Material agreement · Termination of a material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Quarterly report07 Aug 2026
- Current report07 Aug 2026Results of operations · Financial statements and exhibits
- Quarterly report08 May 2026
- Current report07 May 2026Results of operations · Financial statements and exhibits
- Current report06 Apr 2026Exit or disposal costs · Financial statements and exhibits
- Quarterly report12 Feb 2026
- Current report05 Feb 2026Shareholder vote
- Current report04 Feb 2026Results of operations · Financial statements and exhibits
- Proxy statement23 Dec 2025
Sources
- [1] Form 10-K, fiscal year ended 2025-09-30 · SEC / Geospace Technologies Corporation · 21 Nov 2025
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Geospace Technologies Corporation · 07 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Geospace Technologies Corporation · 07 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.