GeoSpace Technologies Q1 2025 Earnings: $1.5M Net Income

TL;DR

**GeoSpace Q1 2025: $1.5M profit, $0.01 EPS. Assets $20M, Liabilities $14.3M.**

AI Summary

GeoSpace Technologies Corp. reported its Q1 2025 results for the period ending December 31, 2024. The company had total assets of $20,000,000 and total liabilities of $14,315,262. Net income for the quarter was $1,516,365, with earnings per share of $0.01.

Why It Matters

This filing provides a snapshot of GeoSpace Technologies' financial health and performance for the first quarter of fiscal year 2025, impacting investor decisions.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediately apparent significant negative financial events.

Key Numbers

• $20.0M — Total Assets (As of December 31, 2024)
• $14.3M — Total Liabilities (As of December 31, 2024)
• $1.5M — Net Income (For the quarter ended December 31, 2024)
• $0.01 — Earnings Per Share (For the quarter ended December 31, 2024)

Key Players & Entities

• GEOSPACE TECHNOLOGIES CORP (company) — Filer
• 2024-12-31 (date) — End of reporting period
• $20,000,000 (dollar_amount) — Total assets
• $14,315,262 (dollar_amount) — Total liabilities
• $1,516,365 (dollar_amount) — Net income
• $0.01 (dollar_amount) — Earnings per share

FAQ

Key Financial Figures

• $0.01 — had 12,776,752 shares of common stock, $0.01 par value, per share outstanding. Tabl

Filing Documents

• geos20241231_10q.htm (10-Q) — 860KB
• ex_752298.htm (EX-31.1) — 13KB
• ex_752299.htm (EX-31.2) — 13KB
• ex_752300.htm (EX-32.1) — 4KB
• ex_752301.htm (EX-32.2) — 6KB
• ex_772345.htm (EX-10.1) — 39KB
• 0001437749-25-003000.txt ( ) — 5130KB
• geos-20241231.xsd (EX-101.SCH) — 49KB
• geos-20241231_cal.xml (EX-101.CAL) — 44KB
• geos-20241231_def.xml (EX-101.DEF) — 359KB
• geos-20241231_lab.xml (EX-101.LAB) — 295KB
• geos-20241231_pre.xml (EX-101.PRE) — 380KB
• geos20241231_10q_htm.xml (XML) — 684KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 3

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 14

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 20

Controls and Procedures

Item 4. Controls and Procedures 21

OTHER INFORMATION

PART II. OTHER INFORMATION

Risk Factors

Item 1A. Risk Factors 22

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22

Exhibits

Item 6. Exhibits 22 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 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 (Note 11) 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 The accompanying notes are an integra

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (unaudited) 1. Significant Accounting Policies Basis of Presentation The consolidated balance sheet of Geospace Technologies Corporation and its subsidiaries (the "Company") at September 30, 2024 , was derived from the Company's audited consolidated financial statements at that date. The consolidated balance sheet at December 31, 2024 and the consolidated statements of operations, comprehensive income, stockholders' equity and cash flows for the three months ended December 31, 2024 and 2023 were prepared by the Company without audit. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary to present fairly the consolidated financial position, results of operations and cash flows were made. All significant intercompany balances and transactions have been eliminated. The results of operations for the three months ended December 31, 2024 , are not necessarily indicative of the operating results for a full year or of future operations. Certain information and footnote disclosures normally included in financial statements presented in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") were omitted pursuant to the rules of the Securities and Exchange Commission. The accompanying consolidated financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company's Annual Report on Form 10 -K for the Company's fiscal year ended September 30, 2024 . Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the use of estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company considers many factors in selecting appropriate operational and financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financi