Geospace Technologies Q2 Revenue $19.7M; Net Loss $(0.86) EPS
Geospace Technologies reported a slight increase in Q2 2026 revenue to $19.7 million, up from $18.0 million in the comparable prior-year quarter. However, the company's net loss widened to $11.1 million, or $(0.86) per diluted share, compared to a net loss of $9.8 million in Q2 2025. For the six-month period, revenue decreased to $45.3 million from $55.2 million, and net loss significantly increased to $20.8 million from $1.4 million in the prior year. The company is undergoing a transformation strategy, including a 20% workforce reduction and other cost-cutting measures expected to generate $12 million in annualized savings, while facing near-term pressures in its Smart Water segment and lower ocean bottom node fleet utilization.
Key Highlights
- Q2 2026 revenue increased to $19.7 million from $18.0 million in Q2 2025.
- Q2 2026 net loss widened to $11.1 million, or $(0.86) per diluted share, from $9.8 million, or $(0.77) per diluted share, in Q2 2025.
- Six-month 2026 revenue decreased to $45.3 million from $55.2 million in the prior year period.
- Six-month 2026 net loss was $20.8 million, or $(1.62) per diluted share, compared to $1.4 million, or $(0.11) per diluted share, in the prior year period.
- Implemented a 20% workforce reduction and other cost-cutting measures, expecting $12 million in annualized savings.
- Smart Water segment revenue decreased 60.6% to $3.7 million in Q2 2026 due to inventory normalization.
- Energy Solutions segment revenue increased 272.1% to $9.6 million in Q2 2026, driven by PRM contract and Pioneer sales.
- Intelligent Industrial segment revenue increased 7.1% to $6.3 million in Q2 2026, with first Heartbeat Detector revenue.
- Cash and cash equivalents stood at $13.4 million as of March 31, 2026, with $25.0 million available under credit agreement.