Geospace Technologies Q2 revenue rises on energy solutions growth

Geospace Technologies

07/05/2026 21:56

Overview

U.S. sensing tech maker's fiscal Q2 revenue rose 10% yr/yr to $19.7 mln

Net loss widened to $11.1 mln from $9.8 mln a year earlier

The company announced a plan in April to cut workforce by 20%, targeting $12 mln in annualized cost savings

Outlook

Company expects moderate uptick in Smart Water segment orders in coming quarters

Company sees increased interest in ocean bottom node rentals for summer survey season

Company expects annualized cost savings of about $12 mln from recent restructuring actions

Result Drivers

SMART WATER DECLINE - Revenue in Smart Water segment fell due to lower demand for Hydroconn connectors as customers worked through elevated inventories from prior orders

ENERGY SOLUTIONS GROWTH - Energy Solutions segment revenue rose, driven by initial PRM contract revenue and final deliveries of Pioneer land wireless product, partly offset by lower demand for traditional seismic products

COST CUTTING - Co implemented a 20% workforce reduction and other cost-saving measures, expecting $12 mln in annualized savings, with $1.3 mln in restructuring charges in Q2 and Q3

Company press release: ID:nBwbX0xRca

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
$19.74 mln
Q2 Net Income
-$11.05 mln
Q2 Gross Profit
$694,000
Q2 Operating Expenses
$12.11 mln
Q2 Pretax Profit
-$11.06 mln


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)