secwatch.observer — SEC 8-K summary
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Issuer:     GEOSPACE TECHNOLOGIES CORP (GEOS)
CIK:        0001001115
Form:       8-K
Filed at:   2024-11-21T23:59:59+00:00
Accession:  0001437749-24-035981
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1001115/000143774924035981/0001437749-24-035981-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1001115/000143774924035981/geos20241121_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-035981

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