secwatch.observer — SEC 8-K summary
======================================

Issuer:     GEOSPACE TECHNOLOGIES CORP (GEOS)
CIK:        0001001115
Form:       8-K
Filed at:   2024-02-07T23:59:59+00:00
Accession:  0001437749-24-003391
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Geospace Q1 revenue $50M (+60% YoY), net income $12.7M vs loss; Mariner sale drove results
--------------------------------------------------------------------------------

- Revenue $50.0M, highest in nearly ten years, up 60% from $31.1M a year ago.
- Net income $12.7M ($0.94 diluted EPS) vs net loss of $0.1M ($0.01 loss) in Q1 FY2023.
- Oil & Gas segment revenue $39.9M (+98% YoY) driven by $30M purchase of Mariner ocean bottom node.
- Adjacent Markets segment $9.8M (-9% YoY); Emerging Markets $0.2M with $1.8M backlog.
- Cash and equivalents $34.0M; no borrowings; capital expenditure budget $7.0M for FY2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1001115/000143774924003391/0001437749-24-003391-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1001115/000143774924003391/geos20240207_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-003391

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer