Geospace reports FY2024 net loss $6.6M on non-cash charges; revenue up 9% to $135.6M

GEOSPACE TECHNOLOGIES CORP

2024-FY EPS reported -$0.50 revenue$135,598,000

FY2024 adj. net income $10.7M vs $12.2M prior year; Q4 adj. net income flat at $4.4M.
Q4 non-cash charges: $14.5M from Russian entity divestiture, $2.8M intangible impairment.
Hydroconn smart water cables set record annual revenue; Adjacent Markets segment Q4 sales up 65% YoY.
Oil & Gas segment FY revenue $77.5M (+5% YoY) led by OBX node sales; rental fleet utilization down.
CEO Rick Wheeler retiring after ~30 years; President Rich Kelley continues as CEO; board seat retained.

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