GeoSpace Technologies Corp. Files 2024 10-K
Ticker: GEOS · Form: 10-K · Filed: 2024-11-22T00:00:00.000Z
Sentiment: neutral
Topics: 10-K, annual-report, financials
TL;DR
GEOS 2024 10-K is in. Full financials out.
AI Summary
GeoSpace Technologies Corp. filed its 10-K for the fiscal year ending September 30, 2024. The company reported revenue from contracts with customers, excluding assessed taxes, and provided financial data for its product and rental segments. Specific financial figures and comparative data for prior periods are detailed within the filing.
Why It Matters
This filing provides investors and analysts with a comprehensive overview of GeoSpace Technologies Corp.'s financial performance and operational status for the fiscal year 2024, crucial for investment decisions.
Risk Assessment
Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.
Key Numbers
- 14,206,082 — Revenue (For the fiscal year ended September 30, 2024.)
- 14,030,481 — Revenue (For the fiscal year ended September 30, 2023.)
- 1,496,701 — Product Revenue (For the fiscal year ended September 30, 2024.)
- 841,992 — Product Revenue (For the fiscal year ended September 30, 2023.)
- 12,709,381 — Rental Revenue (For the fiscal year ended September 30, 2024.)
- 13,188,489 — Rental Revenue (For the fiscal year ended September 30, 2023.)
Key Players & Entities
- GEOSPACE TECHNOLOGIES CORP (company) — Filer
- 7007 PINEMONT DR. (location) — Business Address
- HOUSTON (location) — City
- TX (location) — State
- 77040 (location) — ZIP Code
- OYO GEOSPACE CORP (company) — Former Company Name
- 19950919 (date) — Date of Name Change
- 20240930 (date) — Fiscal Year End
- 20241122 (date) — Filing Date
FAQ
What was GeoSpace Technologies Corp.'s total revenue for the fiscal year ended September 30, 2024?
GeoSpace Technologies Corp.'s total revenue for the fiscal year ended September 30, 2024, was $14,206,082.
How does the 2024 revenue compare to the 2023 revenue?
Revenue increased from $14,030,481 in fiscal year 2023 to $14,206,082 in fiscal year 2024.
What were the key segments contributing to revenue in fiscal year 2024?
The key segments were Product revenue of $1,496,701 and Rental revenue of $12,709,381 for fiscal year 2024.
When did GeoSpace Technologies Corp. change its name from OYO GEOSPACE CORP?
The company changed its name from OYO GEOSPACE CORP on September 19, 1995.
What is the company's primary business classification according to the SIC code?
The company's Standard Industrial Classification (SIC) code is 3829, which pertains to Measuring & Controlling Devices, NEC.
Filing Stats: 4,316 words · 17 min read · ~14 pages · Grade level 16.2 · Accepted 2024-11-22 16:08:11
Key Financial Figures
- $13.19 — illion (based upon the closing price of $13.19 on March 31, 2024, as reported by The N
Filing Documents
- geos20240930_10k.htm (10-K) — 1593KB
- ex_740997.htm (EX-10.5) — 77KB
- ex_740998.htm (EX-19.1) — 29KB
- ex_721897.htm (EX-21.1) — 3KB
- ex_721898.htm (EX-23.1) — 2KB
- ex_721899.htm (EX-31.1) — 11KB
- ex_721900.htm (EX-31.2) — 11KB
- ex_721901.htm (EX-32.1) — 6KB
- ex_721902.htm (EX-32.2) — 6KB
- ex_740999.htm (EX-97.1) — 32KB
- a01.jpg (GRAPHIC) — 9KB
- 0001437749-24-036050.txt ( ) — 9909KB
- geos-20240930.xsd (EX-101.SCH) — 90KB
- geos-20240930_cal.xml (EX-101.CAL) — 91KB
- geos-20240930_def.xml (EX-101.DEF) — 655KB
- geos-20240930_lab.xml (EX-101.LAB) — 525KB
- geos-20240930_pre.xml (EX-101.PRE) — 705KB
- geos20240930_10k_htm.xml (XML) — 1579KB
Business
Item 1. Business Business Overview Unless otherwise specified, the discussion in this Annual Report on Form 10-K refers to Geospace Technologies Corporation and its subsidiaries. We principally design and manufacture seismic instruments and equipment. These seismic products are marketed to the oil and gas industry and used to locate, characterize and monitor hydrocarbon producing reservoirs. More recently, we've begun marketing our seismic products for energy transition applications such as carbon storage, geothermal and mining. We also market our seismic products to other industries for vibration monitoring, border and perimeter security and various geotechnical applications. We design and manufacture other products of a non-seismic nature, including water meter products, imaging equipment, offshore cables, remote shutoff water valves and Internet of Things ("IoT") platform. Additionally, we provide contract manufacturing services, which leverage our capabilities and manufacturing resources. We report and categorize our customers and products into three different segments: Oil and Gas Markets, Adjacent Markets and Emerging Markets. In recent years, the revenue contribution from our Adjacent Markets segment has grown to represent nearly half of our total revenue. This revenue growth in this segment is largely attributable to the rise in water utility modernization which includes our waterproof meter connector cable series of products. Demand for our seismic products targeted at customers in our Oil and Gas Markets segment has been, and will likely continue to be, vulnerable to downturns in the economy and the oil and gas industry in general. For more information, please refer to the risks discussed under the heading "Risk Factors." Segment and Geographical Information We report and evaluate financial information for our three business segments: Oil and Gas Markets, Adjacent Markets and Emerging Markets. For a discussion of the products sold and markets serve