Quarterly ResultAug 7, 2026, 08:48 AM
Geospace Q3 Revenue $15.8M, Net Loss $9.7M; Wins $10.8M Navy Contract
AI Summary
Geospace Technologies reported a significant decline in Q3 2026 revenue to $15.8 million from $24.8 million year-over-year, resulting in a net loss of $9.7 million or $(0.75) per diluted share, compared to a net income of $0.8 million in the prior year. The company cited challenging market conditions, geopolitical uncertainty, and project timing for the revenue impact, along with inflation and raw material costs affecting margins. However, its subsidiary, Quantum Technology Sciences, LLC., secured a $10.8 million firm-fixed price contract from the U.S. Navy for a seismic acoustic detection and ranging system, expected to be completed by December 2027.
Key Highlights
- U.S. Navy awarded $10.8 million contract to Quantum Technology Sciences subsidiary.
- Q3 2026 revenue decreased to $15.8 million from $24.8 million year-over-year.
- Q3 2026 net loss was $9.7 million, or $(0.75) per diluted share.
- Nine-month 2026 revenue decreased to $61.1 million from $80.1 million year-over-year.
- Nine-month 2026 net loss was $30.5 million, or $(2.37) per diluted share.
- Smart Water segment Q3 revenue declined 56.1% to $4.6 million.
- Energy Solutions segment Q3 revenue declined 28% to $5.9 million.
- Cash and cash equivalents were $2.8 million as of June 30, 2026.
Price Impact
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