Geospace Q2 revenue rose to $19.7 million; net loss widened to $11.1 million
Geospace Technologies reported fiscal second-quarter 2026 revenue of $19.7 million, up from $18.0 million a year earlier, but its net loss widened to $11.1 million, or $(0.86) per diluted share, from $9.8 million, or $(0.77). The company also said it will cut about 20% of its workforce, with expected annualized savings of roughly $12 million and about $1.3 million in restructuring charges.
Key points
- Q2 revenue $19.7 million vs. $18.0 million a year earlier; Smart Water revenue fell to $3.7 million from $9.5 million
- Six-month net loss $20.8 million, or $(1.62) per diluted share, vs. $1.4 million, or $(0.11), a year earlier; six-month revenue $45.3 million vs. $55.2 million
- Workforce reduction of approximately 20% with a voluntary early retirement program; roughly $12 million annualized savings and about $1.3 million in restructuring charges expected in the second and third quarters of fiscal 2026
- Cash and cash equivalents of $13.4 million at March 31, 2026, with $25.0 million of undrawn bank borrowing availability
The filing
Written by AI on Nov 9, 2026, 8:29 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.