Geospace Technologies reported a disappointing first quarter of fiscal year 2026, with a revenue decline of 31% year-over-year and a net loss, highlighting challenges in both the Smart Water and Energy Solutions segments.

• Revenue for Q1 FY2026 was $25.6 million, down from $37.2 million in the prior year, reflecting significant market pressures.
• The Smart Water segment experienced a 21% revenue drop to $5.8 million due to decreased demand for specific products.
• Energy Solutions revenue fell 40% to $14.6 million, attributed to ongoing volatility in the oil and gas sector and lower demand for services.
• Despite the challenges, Geospace remains committed to strategic investments and long-term growth, focusing on operational discipline and customer service.
• The Intelligent Industrial segment is expected to benefit from a new subscription model and increased customer engagement post-acquisition of GeoVox Security.