---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-015735"
form_type: "8-K"
ticker: "GEOS"
cik: "0001001115"
company_name: "GEOSPACE TECHNOLOGIES CORP"
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T04:37:32.811533+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Geospace Q2 revenue down 23% to $24.3M, net loss $4.3M; appoints COO, $5M buyback

## Summary
- Q2 FY2024 revenue $24.3M (down 23% YoY); net loss $4.3M ($0.32/sh) vs net income $4.6M ($0.35/sh) a year ago.
- Oil & Gas segment revenue $10.8M (down 41% YoY) on lower OBX rental utilization; Adjacent Markets $12.2M (down 4%).
- H1 FY2024 net income $8.4M ($0.62/sh) on revenue $74.3M; cash/short-term investments $51.2M, no debt.
- Appointed Richard Kelley (former Sercel President) as EVP and COO effective April 29, 2024; initial base salary $335K.
- Board authorized up to $5M stock repurchase program with no time limit; funded from existing cash or operations.

## SEC filing metadata
- accession: 0001437749-24-015735
- form_type: 8-K
- ticker: GEOS
- cik: 0001001115
- company_name: GEOSPACE TECHNOLOGIES CORP
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1001115/000143774924015735/0001437749-24-015735-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1001115/000143774924015735/geos20240509_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-015735
- JSON: https://secwatch.observer/filing/0001437749-24-015735.json
- Plain text: https://secwatch.observer/filing/0001437749-24-015735.txt

## Key facts
- Earnings Releases
  GEOSPACE TECHNOLOGIES CORP reported second quarter ended March 31, 2024 results: revenue $24.3 million, net income Net loss of $4.3 million, or ($0.32) per diluted share, EPS ($0.32) per diluted share.
  - Period: second quarter ended March 31, 2024
  - Revenue: $24.3 million
  - Net income: Net loss of $4.3 million, or ($0.32) per diluted share
  - EPS: ($0.32) per diluted share
  - Result: reported results
  source text: Geospace Technologies Corporation (NASDAQ: GEOS) (the “Company”) today announced results for its second quarter ended March 31, 2024. For the three-months ended March 31, 2024, Geospace reported revenue of $24.3 million, compared to revenue of $31.4 million for the comparable year-ago quarter. Net loss for the three-months ended March 31, 2024 was $4.3 million, or ($0.32) per diluted share, compared to net income of $4.6 million, or $0.35 per diluted share, for the quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1001115/000143774924015735/0001437749-24-015735-index.htm
- Earnings Releases
  GEOSPACE TECHNOLOGIES CORP reported six-months ended March 31, 2024 results: revenue $74.3 million, net income Net income of $8.4 million, or $0.62 per diluted share, EPS $0.62 per diluted share.
  - Period: six-months ended March 31, 2024
  - Revenue: $74.3 million
  - Net income: Net income of $8.4 million, or $0.62 per diluted share
  - EPS: $0.62 per diluted share
  - Result: reported results
  source text: For the six-months ended March 31, 2024, Geospace reported revenue of $74.3 million compared to revenue of $62.5 million for the comparable year-ago period. Net income for the six-months ended March 31, 2024 was $8.4 million, or $0.62 per diluted share, compared to net income of $4.5 million, or $0.35 per diluted share, for the six-months ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1001115/000143774924015735/0001437749-24-015735-index.htm
- Executive change
  Richard Kelley was appointed as Executive Vice President and Chief Operating Officer at GEOSPACE TECHNOLOGIES CORP.
  - Action: appointed
  - Role: Executive Vice President and Chief Operating Officer
  source text: On April 29, 2024, the Company appointed Richard Kelley as its Executive Vice President and Chief Operating Officer (“COO").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1001115/000143774924015735/0001437749-24-015735-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.