Fri, Nov 22, 9:09 PM (118 days ago)
**Geospace Technologies Corporation (GEOS) - Summary of Financial Performance (Fiscal Year Ended September 30, 2024)** Geospace Technologies reported consolidated revenues of $135.6 million in FY 2024, an 8.9% increase from $124.5 million in FY 2023. This growth was driven by robust demand across all segments, particularly in Oil and Gas Markets, which contributed $77.5 million, up 4.7%, primarily from wireless product sales. Adjacent Markets revenue surged 13.4% to $55.6 million, bolstered by industrial products. However, the Emerging Markets segment incurred an operating loss of $6.2 million, reflecting a $2.8 million impairment charge. Net income turned negative at $(6.6) million, compared to $12.2 million the previous year, largely due to a $14.5 million loss from the sale of its Russian operations. Operating expenses rose by 9.1% to $45.5 million, influenced by increased R&D and marketing costs. Geospace maintains a strong liquidity position with $37.1 million in cash and no debt, supporting ongoing investments in R&D and potential acquisitions. The company anticipates continued growth in Adjacent Markets, particularly from new IoT products, while cautioning against volatility in the Oil and Gas segment. **Key Financial Metrics:** - Revenue: $135,598K - Net Income: $(6,578)K - Operating Expenses: $45,456K - Earnings Per Share: $(0.50) - Cash Position: $37,100K **Outlook:** Geospace aims to enhance its product offerings and expand its market presence while navigating economic uncertainties and competitive pressures.