Geospace Technologies Corp 2026年季度报告

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company”in Rule 12b-2 of the Exchange Act. PageNumberPART I. FINANCIAL INFORMATIONItem 1. Financial Statements3Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations14Item 3. Quantitative and Qualitative Disclosures about Market Risk19Item 4. Controls and Procedures20PART II. OTHER INFORMATIONItem 6. Exhibits212 (in thousands, except share and per share amounts)(unaudited) GEOSPACE TECHNOLOGIES CORPORATION AND SUBSIDIARIESNOTES 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”) atSeptember 30, 2025, was derived fromthe Company’s audited consolidated financial statements at that date. The consolidated balance sheet atDecember 31, 2025 and the consolidated statements ofoperations, comprehensive income (loss), stockholders’ equity and cash flows for thethree months ended December 31, 2025 and 2024 were prepared by theCompany without audit. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary to present fairly the Certain information and footnote disclosures normally included in financial statements presented in accordance with accounting principles generallyaccepted in the United States of America ("U.S. GAAP") were omitted pursuant to the rules of the Securities and Exchange Commission. The accompanying 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 inthe financial statements and accompanying notes. The Company considers many factors in selecting appropriate operational and financial accounting policiesand controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. The Company continuallyevaluates its estimates, including those related to revenue recognition, credit loss, collectability of rental revenue, inventory obsolescence reserves, self-insurance reserves, product warranty reserves, useful lives of long-lived assets, impairment of long-lived assets, impairment of goodwill and other intangible Reclassifications Certain amounts previously reported in the consolidated financial statements have been reclassified to conform to the current year presentation.Suchreclassifications had no effect on our previously reported net loss, stockholders' equity or cash flows. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original or remaining maturity at the time of purchase of three months or less tobe cash equivalents.At December 31, 2025 and September 30, 2025, cash and cash equivalents included $0.8millionheld by the Company’s foreign Concentration of Credit Risk The Company sells products to customers throughout the United States and various foreign countries. The Company’s normal credit terms for tradereceivables are 30 days. In certain situations, credit terms may be extended to 60 days or longer. The Company performs ongoing credit evaluations of itscustomers and generally does not require collateral for its trade receivables. Additionally, the Company provides long-term financing in the form of promissorynotes and sales-type leases when competitive conditions require such financing. In such cases, the Company may require collateral. Allowances are recognized The Company had trade accounts and financing receivables from fourcustomers of $15.0million, $7.7million, $5.9million and $1.2 million,respectively at December 31, 2025. The Company recognized revenue from these four customers of $10.6million, $21,000,$0.2 millionand $2.8million,respectively, for the three months ended December 31, 2025.The Company recognized revenue from these four customers of zero, $44,000, $18.7millionand$2.8million, respectively, for the three months ended December 31, 2024.These receivables and revenue are related to the Company's Energy Solutions Impairment of Long-lived Assets The Company's long-lived assets are reviewed for impairment whenever an event or circumstance indicates that the carrying amount of an asset orgroup of assets may not be recoverable. The impairment review, if necessary, includes a comparison of the expected future cash flows (undiscounted andwi