Latest news with #GeospaceTechnologiesCorporation
Yahoo
2 days ago
- Business
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Geospace Technologies Corporation (GEOS) Acquires Heartbeat Detector Technology; Announces $24 Million Agreement for Initial Pioneer Ultralight Seismic Land Node Sales
Geospace Technologies Corporation (NASDAQ:GEOS) is included in our list of the 13 Hot Oil Stocks to Buy Now. A row of massive oil rigs in a desert landscape, against a setting sun. On August 4, 2025, Geospace Technologies Corporation (NASDAQ:GEOS) bought 100% of the Heartbeat Detector technology from GeoVox Security, Inc., which is a security solution developed by the U.S. Department of Energy's Oak Ridge National Laboratory. The portable device, which has already been deployed in more than a dozen countries to curtail human trafficking, illegal border crossings, and prison escapes, delivers results in under 10 seconds with 99% accuracy. With plans to expand its market reach, Geospace is expected to offer it through a subscription model. Furthermore, on August 11, Geospace Technologies Corporation (NASDAQ:GEOS) announced a $24 million agreement for the first major sales of the Pioneer ultralight seismic land node. Pioneer, which is designed and built in the U.S., delivers high-quality seismic data in a package that weighs less than 0.5 kg. Scheduled for delivery in Q3 2025, it offers operational efficiency and deployment speed. For decades, the company has remained an innovative solutions provider in the oil and gas industry's search for more energy reserves. Serving the energy exploration, security and surveillance, and industrial IoT markets, Geospace Technologies Corporation (NASDAQ:GEOS) provides technology solutions for enhanced situational awareness. It is included in our list of the hot stocks to buy. While we acknowledge the potential of GEOS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and 7 Best Potash Stocks to Buy According to Analysts. Disclosure: None.
Yahoo
4 days ago
- Business
- Yahoo
Geospace Stock Falls Post Q3 Earnings Despite Smart Water Growth
Shares of Geospace Technologies Corporation GEOS have lost 21.9% since the company reported its earnings for the quarter ended June 30, 2025, against the S&P 500 Index's 0.5% gain over the same period. Over the past month, however, the stock rebounded, gaining 24.4% compared with the S&P 500's 2.1% rise. GEOS' Financial Performance Snapshot For the third quarter of fiscal 2025, Geospace reported revenues of $24.8 million, down 3.9% from $25.9 million a year earlier. Net income stood at $0.8 million, or $0.06 per diluted share, against a net loss of $2.1 million, or $0.16 per share, in the prior-year quarter. Segmentally, Smart Water revenue climbed 6.1% to $10.5 million from $9.9 million, driven by higher demand for Hydroconn connectors. Energy Solutions revenue fell 13.6% to $8.1 million from $9.4 million on lower utilization and sales of marine ocean bottom node rental fleet, while Intelligent Industrial revenue dipped 5.4% to $6.1 million from $6.5 million due to reduced demand for imaging products and the absence of a completed government contract that had benefited last year's results. For the nine months ended June 30, 2025, overall revenue dropped 20% to $80.1 million from $100.2 million, with a net loss of $0.7 million against a profit of $6.3 million in the year-ago period. Geospace's Other Key Business Metrics Gross profit for the quarter was $7.5 million, down 11.6% from $8.5 million last year, as rental revenue slid significantly due to lower utilization of marine ocean bottom nodes. Operating expenses increased 7.9% year over year to $11.8 million from $10.9 million, driven by higher personnel and sales and marketing costs. The company recorded a $4.6 million gain on the sale of idle property adjacent to its facility, bolstering profitability. Smart Water continued its upward trajectory, setting a nine-month revenue record of $27.3 million, up 32.7% from the comparable fiscal 2024 period, fueled by demand for Hydroconn connectors. Conversely, Energy Solutions' nine-month revenue plunged 42% due to weak marine node demand, though it booked its first sale of the new Pioneer ultralight land node. Intelligent Industrial saw a 7.6% revenue drop over nine months, impacted by reduced defense and imaging product demand, partially offset by higher contract manufacturing activity. Cash and short-term investments totaled $25.6 million at the quarter-end compared with $37.1 million as of Sept. 30, 2024, with no outstanding borrowings under its $15 million credit facility. Working capital stood at $74.5 million. Geospace Technologies Corporation Price, Consensus and EPS Surprise Geospace Technologies Corporation price-consensus-eps-surprise-chart | Geospace Technologies Corporation Quote GEOS' Management Commentary CEO Richard 'Rich' Kelley highlighted strategic achievements, including winning a major contract to supply and install nearly 500 kilometers of the OptoSeis Permanent Reservoir Monitoring (PRM) system for Petrobras' Mero Field in Brazil. This $80 million-plus equipment portion of the contract is expected to be fulfilled over 16–18 months, with revenue recognition beginning after milestone agreements are finalized. Kelley also noted the first sale of the Pioneer ultra-light land seismic node, the sale of the streamer recovery device product line, and continued strength in Smart Water driven by Hydroconn connectors. Management underscored the Smart Water segment's record nine-month revenue and its growth potential, especially with the launch of AquaLink, an IoT endpoint for multiunit water monitoring. The Energy Solutions team's recent wins are expected to improve Houston facility utilization and operational efficiency. Factors Influencing Geospace's Headline Numbers The quarter's results reflected mixed segmental dynamics. Robust Smart Water growth was offset by pronounced declines in Energy Solutions and Intelligent Industrial revenues. The Petrobras PRM contract, while strategically significant, did not contribute to the current quarter's numbers. Gains from asset sales, particularly the $9.2 million property disposal, provided a one-time lift to earnings. Operating cost pressures stemmed from workforce and marketing investments aimed at supporting new product launches and expanding market presence. GEOS' Guidance Geospace did not provide specific revenue or earnings guidance for the remainder of fiscal 2025. Management expressed optimism about sustaining profitability through diversification, strategic acquisitions and backlog strength, but acknowledged ongoing headwinds in ocean bottom node markets and the timing uncertainties for certain government security projects. Geospace's Other Developments During the quarter, Geospace sold its streamer recovery device product line to Seis Gear, divesting non-core assets to streamline operations. The acquisition of Heartbeat Detector from Oak Ridge National Laboratory marked a strategic expansion into the security technology market, with potential applications across borders and correctional facilities. Additionally, the company enhanced its Smart Water product portfolio with the launch of AquaLink, an IoT-enabled multi-device water monitoring solution targeting multiunit properties. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Geospace Technologies Corporation (GEOS) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
14-05-2025
- Business
- Yahoo
Why Geospace Technologies (GEOS) Is Falling This Week
We recently published a list of Energy Stocks that are Losing This Week. In this article, we are going to take a look at where Geospace Technologies Corporation (NASDAQ:GEOS) stands against other energy stocks that are declining this week. The energy sector was among the largest beneficiaries of the truce between the United States and China this week, resulting in the West Texas Intermediate (WTI) crude oil price rallying aggressively to cross the $63 mark, up from a multi-year low of $57.13 it hit last week. However, despite the gains, oil's upside potential remains limited due to an abundant supply following a decision by OPEC+ to further increase output in June. Moreover, prices still remain below the $65 break-even mark for most producers operating in the prolific Permian Basin in the US, forcing them to potentially stop drilling and cut jobs. Additionally, despite Beijing cutting its levies on American goods to 10% for a 90-day period, it is unlikely that the agreement will do much to increase its import of US energy. China's import of American energy commodities was effectively gone as soon as Beijing put an initial 10% tariff on crude oil and 15% on LNG and coal in early February, so these commodities will remain uncompetitive in the country even at the lower 10% tariff for the next 90 days. According to commodity analysts Kpler, no American crude oil is scheduled to arrive at Chinese ports this month, while only three cargoes were unloaded in April. The imports of American LNG have also suffered a similar fate, with Kpler showing no cargoes since February. Aerial view of an oil rig in the sea waters, reflecting the company's involvement in the oil and gas markets. To collect data for this article, we have referred to several stock screeners to find energy stocks that have fallen the most between May 6 to May 13, 2025. The following are the Energy Stocks that Lost the Most This Week. The stocks are ranked according to their share price decline during this period. At Insider Monkey, we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (). Share Price Decline Between May 6 – May. 13: 7.08% Geospace Technologies Corporation (NASDAQ:GEOS) is a global technology and instrumentation manufacturer specializing in vibration sensing and highly ruggedized products that serve energy, industrial, government, and commercial customers worldwide. Geospace Technologies Corporation (NASDAQ:GEOS) had a tough Q2 2025, reporting a revenue of $18 million, compared to revenue of $24.3 million in the same period last year. The company's net loss also increased from $4.3 million in Q2 2024 to $9.88 million in the second quarter of this year. Despite the loss, Geospace Technologies Corporation (NASDAQ:GEOS) achieved a record Q2 revenue of $9.5 million in its Smart Water segment, up from $6.4 million in the year-ago period. Overall, GEOS ranks 4th on our list of the energy stocks that lost the most this week. While we acknowledge the potential of energy companies, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than GEOS but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-02-2025
- Business
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Geospace Technologies (NASDAQ:GEOS) investors are sitting on a loss of 33% if they invested a year ago
The simplest way to benefit from a rising market is to buy an index fund. Active investors aim to buy stocks that vastly outperform the market - but in the process, they risk under-performance. Unfortunately the Geospace Technologies Corporation (NASDAQ:GEOS) share price slid 33% over twelve months. That falls noticeably short of the market return of around 19%. On the bright side, the stock is actually up 20% in the last three years. Furthermore, it's down 21% in about a quarter. That's not much fun for holders. This could be related to the recent financial results - you can catch up on the most recent data by reading our company report. With that in mind, it's worth seeing if the company's underlying fundamentals have been the driver of long term performance, or if there are some discrepancies. View our latest analysis for Geospace Technologies Because Geospace Technologies made a loss in the last twelve months, we think the market is probably more focussed on revenue and revenue growth, at least for now. Generally speaking, companies without profits are expected to grow revenue every year, and at a good clip. Some companies are willing to postpone profitability to grow revenue faster, but in that case one would hope for good top-line growth to make up for the lack of earnings. In just one year Geospace Technologies saw its revenue fall by 14%. That's not what investors generally want to see. The stock price has languished lately, falling 33% in a year. What would you expect when revenue is falling, and it doesn't make a profit? We think most holders must believe revenue growth will improve, or else costs will decline. You can see below how earnings and revenue have changed over time (discover the exact values by clicking on the image). You can see how its balance sheet has strengthened (or weakened) over time in this free interactive graphic. Geospace Technologies shareholders are down 33% for the year, but the market itself is up 19%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Regrettably, last year's performance caps off a bad run, with the shareholders facing a total loss of 5% per year over five years. We realise that Baron Rothschild has said investors should "buy when there is blood on the streets", but we caution that investors should first be sure they are buying a high quality business. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. For example, we've discovered 1 warning sign for Geospace Technologies that you should be aware of before investing here. If you are like me, then you will not want to miss this free list of undervalued small caps that insiders are buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on American exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Yahoo
05-02-2025
- Business
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Geospace Technologies Reports Profitable First Quarter for Fiscal Year 2025
HOUSTON, February 05, 2025--(BUSINESS WIRE)--Geospace Technologies Corporation (NASDAQ: GEOS) ("the "Company") today announced results for its first quarter ended December 31, 2024. For the three-months ended December 31, 2024, Geospace reported revenue of $37.2 million compared to revenue of $50.0 million for the comparable year-ago quarter. Net income for the three-months ended December 31, 2024, was $8.4 million, or $0.65 per diluted share, compared to $12.7 million, or $0.94 per diluted share, for the quarter ended December 31, 2024. Management's Comments Richard J. ("Rich") Kelley, President and CEO of Geospace Technologies said, "Our companywide focus on driving profitability through strategic decisions continues to yield positive results. We just completed another profitable quarter after two consecutive years of profitability, excluding non-cash charges in the prior quarter. As an organization, we have embraced the realignment of our business segments to better reflect our long-term vision and market opportunities. This quarter represents our first reporting period using our new business segments: Smart Water, Energy Solutions and Intelligent Industrial. To provide greater insight into the revenue reported using these new segments, we extracted from the former Adjacent Markets segment our water solutions of Hydroconn® connectors and the Aquana brand offerings to form the Smart Water segment. Additionally, the remaining businesses under the former Adjacent Markets segment are combined with our previous Emerging Markets segment to form the Intelligent Industrial segment. The former Oil & Gas segment is almost unchanged and has now become our Energy Solutions segment. Historically for our water-related offerings, the first quarter of the fiscal year usually results in less revenue due in part to seasonality of utility-related deployments as well as the municipal government budget cycle, which typically begins in October. Positively, revenue reported from the Smart Water segment shows an increase of 72% from the same period last year. We see significant future potential in the municipal and multi-family markets for our water management solutions and intend to grow both organically and through potential acquisition to realize our long-term vision for this vertical. Our Energy Solutions segment achieved a notable milestone in this quarter including a $17 million sale of shallow water OBX-750E nodes to an international seismic contractor. Looking ahead to the remainder of the year, we anticipate there may be variability in quarterly revenue due to on-going market conditions in the Energy Solutions segment. Our Intelligent Industrial segment maintained consistent revenue through a combination of our imaging solutions, advanced sensor products, specialized contract manufacturing services and security and surveillance applications. We are pleased to begin the fiscal year with a strong quarter yielding net income for our shareholders. We continue to evaluate options associated with potential acquisitions and other growth strategies and seek more ways in which we will increase value in the future." Smart Water Segment First quarter revenue from the Company's Smart Water segment totaled $7.3 million for the three months ended December 31, 2024. This compares to $4.2 million in revenue for the same period a year ago, an increase of 72%. The increase in revenue is due to higher demand for the Company's Hydroconn® cable and connector products. Energy Solutions Segment The Energy Solutions segment revenue totaled $24.3 million for the three months ended December 31, 2024. This compares to $39.9 million in revenue for the same period a year ago, a decrease of 39%. Revenue for the three months ended December 31, 2024 included a $17 million OBX marine wireless product sale. However, in comparison, revenue for the first quarter of the prior year included a $30 million sale of our Mariner™ shallow water ocean bottom nodes. Additionally, the reduction in revenue for the first quarter of fiscal year 2025 was due to lower utilization of the OBX rental fleet. Intelligent Industrial Segment Revenue from the Company's Intelligent Industrial segment totaled $5.6 million for the three-month period ended December 31, 2024. This compared with $5.8 million from the same year ago period, a decrease of 4%. The decrease in revenue for the three months ended December 31, 2024, was primarily due to lower demand for our imaging products. The decrease was partially offset by an increase in demand for our industrial sensor products. Balance Sheet and Liquidity As of December 31, 2024, the Company had $22.1 million in cash, cash equivalents and short-term investments, and had $40.6 million in current trade accounts and financing receivables, which includes $16 million from a non-cash sale of used rental equipment during the quarter. The Company has maintained additional borrowing availability of $12 million under its bank credit agreement with no borrowings outstanding and owns unencumbered property and real estate in both domestic and international locations. In fiscal year 2025, management anticipates a capital expenditure budget of $6 million and does not anticipate significant increases to the rental fleet given current market conditions. The Company completed its $7 million stock repurchase program early in the second quarter of fiscal year 2025. During the three-month period ended December 31, 2024, the Company purchased $0.2 million of treasury stock pursuant to the stock repurchase program. Through the program, the Company purchased roughly 716,000 shares at an average price of $9.72 per share. Conference Call Information Geospace Technologies will host a conference call to review its first quarter fiscal year 2025 financial results on February 6, 2025, at 10:00 a.m. Eastern Time (9 a.m. Central). Participants can access the call at (800)274-8461 (US) or (203)518-9814 (International). Please reference the conference ID: GEOSQ125 prior to the start of the conference call. A replay will be available for approximately 60 days and may be accessed through the Investor Relations tab of our website at About Geospace Technologies Geospace Technologies is a global technology and instrumentation manufacturer specializing in advanced sensing, IOT and highly ruggedized products, which serve smart water, energy exploration, industrial, government and commercial customers worldwide. The Company's products blend engineering expertise with advanced analytic software to optimize energy exploration, enhance national and homeland security, empower water utility and property managers, and streamline electronic printing solutions. With more than four decades of excellence, the Company's more than 450 employees across the world are dedicated to engineering and technical quality. Geospace is traded on the U.S. NASDAQ stock exchange under the ticker symbol GEOS and has been added to the Russell 2000®, Russell 3000®, and Russell Micro-cap®. For more information, visit Forward Looking Statements This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as "may", "will", "should", "could", "intend", "expect", "plan", "budget", "forecast", "anticipate", "believe", "estimate", "predict", "potential", "continue", "evaluating" or similar words. Statements that contain these words should be read carefully because they discuss future expectations, contain projections of our future results of operations or of our financial position or state other forward-looking information. Examples of forward- looking statements include, statements regarding our expected operating results and expected demand for our products in various segments and our expected capital expenditures. These forward-looking statements reflect our current judgment about future events and trends based on currently available information. However, there will likely be events in the future that we are not able to predict or control. The factors listed under the caption "Risk Factors" in our most recent Annual Report on Form 10-K which is on file with the Securities and Exchange Commission, as well as other cautionary language in such Annual Report, any subsequent Quarterly Report on Form 10- Q, or in our other periodic reports, provide examples of risks, uncertainties and events that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements. Such examples include, but are not limited to, the failure of the Quantum or OptoSeis® or Aquana technology transactions to yield positive operating results and decreases in commodity price levels which could reduce demand for our products, the failure of our products to achieve market acceptance (despite substantial investment by us) our sensitivity to short term backlog, delayed or cancelled customer orders, product obsolescence resulting from poor industry conditions or new technologies, bad debt write-offs associated with customer accounts, inability to collect on promissory notes, lack of further orders for our OBX rental equipment, failure of our Quantum products to be adopted by the border and perimeter security market, or a decrease in such market due to governmental changes, and infringement or failure to protect intellectual property. The occurrence of the events described in these risk factors and elsewhere in our most recent Annual Report on Form 10-K or in our other periodic reports could have a material adverse effect on our business, results of operations and financial position, and actual events and results of operations may vary materially from our current expectations. We assume no obligation to revise or update any forward- looking statement, whether written or oral, that we may make from time to time, whether as a result of new information, future developments or otherwise, except as required by applicable securities laws and regulations. GEOSPACE TECHNOLOGIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except share and per share amounts) (unaudited) Three Months Ended December 31, 2024 December 31, 2023 Revenue: Products $ 32,645 $ 43,714 Rental 4,578 6,318 Total revenue 37,223 50,032 Cost of revenue: Products 14,269 23,842 Rental 2,805 3,954 Total cost of revenue 17,074 27,796 Gross profit 20,149 22,236 Operating expenses: Selling, general and administrative 7,420 5,826 Research and development 4,894 3,602 Provision for recovery of credit losses — (29 ) Total operating expenses 12,314 9,399 Income from operations 7,835 12,837 Other income (expense): Interest expense (44 ) (56 ) Interest income 745 235 Foreign currency transaction gains (losses), net (14 ) (163 ) Other, net (33 ) (74 ) Total other income (loss), net 654 (58 ) Income before income taxes 8,489 12,779 Income tax expense 113 100 Net income $ 8,376 $ 12,679 Income per common share: Basic $ 0.66 $ 0.96 Diluted $ 0.65 $ 0.94 Weighted average common shares outstanding: Basic 12,753,378 13,251,360 Diluted 12,877,387 13,460,516 GEOSPACE TECHNOLOGIES CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands except share amounts) (unaudited) December 31, 2024 September 30, 2024 ASSETS Current assets: Cash and cash equivalents $ 1,410 $ 6,895 Short-term investments 20,655 30,227 Trade accounts and financing receivables, net 40,645 21,868 Inventories, net 27,921 26,222 Assets held for sale 1,841 1,841 Prepaid expenses and other current assets 2,613 2,313 Total current assets 95,085 89,366 Non-current inventories, net 18,742 18,031 Rental equipment, net 12,480 14,186 Property, plant and equipment, net 23,358 21,083 Non-current trade accounts and financing receivables 7,264 6,375 Operating right-of-use assets 400 464 Goodwill 736 736 Other intangible assets, net 1,611 1,649 Other non-current assets 263 304 Total assets $ 159,939 $ 152,194 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable trade $ 7,312 $ 8,003 Operating lease liabilities 130 173 Other current liabilities 9,446 9,021 Total current liabilities 16,888 17,197 Non-current operating lease liabilities 309 339 Deferred tax liabilities, net 32 34 Total liabilities 17,229 17,570 Commitments and contingencies Stockholders' equity: Preferred stock, 1,000,000 shares authorized, no shares issued and outstanding — — Common Stock, $.01 par value, 20,000,000 shares authorized; 14,315,262 and 14,206,082 shares issued, respectively; and 12,798,897 and 12,709,381 shares outstanding, respectively 143 142 Additional paid-in capital 97,690 97,342 Retained earnings 63,658 55,282 Accumulated other comprehensive loss (4,699 ) (4,257 ) Treasury stock, at cost, 1,516,365 and 1,496,701 shares, respectively (14,082 ) (13,885 ) Total stockholders' equity 142,710 134,624 Total liabilities and stockholders' equity $ 159,939 $ 152,194 GEOSPACE TECHNOLOGIES CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) Three Months Ended December 31, 2024 December 31, 2023 Cash flows from operating activities: Net income $ 8,376 $ 12,679 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Deferred income tax expense — 8 Rental equipment depreciation 1,884 3,313 Property, plant and equipment depreciation 867 822 Amortization of intangible assets 37 109 Amortization of premiums (accretion of discounts) on short-term investments (104 ) (115 ) Stock-based compensation expense 349 406 Provision for recovery of credit losses — (29 ) Inventory obsolescence expense 506 20 Gross profit from sale of rental equipment (15,978 ) (19,350 ) Gain on disposal of property, plant and equipment (86 ) — Realized gain on investments (10 ) — Effects of changes in operating assets and liabilities: Trade accounts and financing receivables (3,622 ) 8,001 Inventories (2,988 ) (4,059 ) Other assets (196 ) 179 Accounts payable trade (690 ) (478 ) Other liabilities 146 1,146 Net cash provided by (used in) operating activities (11,509 ) 2,652 Cash flows from investing activities: Purchase of property, plant and equipment (3,199 ) (779 ) Proceeds from the sale of property, plant and equipment 89 — Investment in rental equipment (373 ) (2,558 ) Proceeds from the sale of rental equipment 65 597 Proceeds from the sale of short-term investments 9,660 — Payments received on note receivable related to sale of subsidiary 45 — Net cash provided by (used in) investing activities 6,287 (2,740 ) Cash flows from financing activities: Purchase of treasury stock (197 ) — Net cash used in financing activities (197 ) — Effect of exchange rate changes on cash (66 ) 192 Increase (decrease) in cash and cash equivalents (5,485 ) 104 Cash and cash equivalents, beginning of period 6,895 18,803 Cash and cash equivalents, end of period $ 1,410 $ 18,907 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for income taxes $ 113 $ — Accounts and financing receivables related to sale of rental equipment 16,112 30,048 Inventory transferred to rental equipment 36 593 GEOSPACE TECHNOLOGIES CORPORATION AND SUBSIDIARIES SUMMARY OF SEGMENT REVENUE AND OPERATING INCOME (LOSS) (in thousands) (unaudited) Three Months Ended December 31, 2024 December 31, 2023 Revenue: Smart Water $ 7,288 $ 4,234 Energy Solutions 24,282 39,911 Intelligent Industrial 5,577 5,813 Corporate 76 74 Total $ 37,223 $ 50,032 Income (loss) from operations: Smart Water $ 370 $ 1,095 Energy Solutions 13,282 15,068 Intelligent Industrial (940 ) (191 ) Corporate (4,877 ) (3,135 ) Total $ 7,835 $ 12,837 View source version on Contacts MEDIA CONTACT: Caroline Kempf, ckempf@ 713.986.8710
