Geospace Technologies (GEOS) 10-Q 10 May 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Mar. 31, 2024	Apr. 30, 2024
Document Information [Line Items]
Entity Central Index Key	0001001115
Entity Registrant Name	GEOSPACE TECHNOLOGIES CORP
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-13601
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	76-0447780
Entity Address, Address Line One	7007 Pinemont
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77040
City Area Code	713
Local Phone Number	986-4444
Title of 12(b) Security	Common Stock
Trading Symbol	GEOS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,362,090

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Current assets:
Cash and cash equivalents	$ 20,762	$ 18,803
Short-term investments	30,448	14,921
Trade accounts and note receivable, net	15,330	21,373
Inventories, net	23,932	18,430
Prepaid expenses and other current assets	1,611	2,251
Total current assets	92,083	75,778
Non-current inventories, net	18,141	24,888
Rental equipment, net	15,077	21,587
Property, plant and equipment, net	24,552	24,048
Non-current trade accounts receivable	1,510	0
Operating right-of-use assets	590	714
Goodwill	736	736
Other intangible assets, net	4,601	4,805
Other non-current assets	408	486
Total assets	157,698	153,042
Current liabilities:
Accounts payable trade	4,955	6,659
Operating lease liabilities	257	257
Other current liabilities	9,863	12,882
Total current liabilities	15,075	19,798
Non-current operating lease liabilities	397	512
Deferred tax liabilities, net	32	16
Total liabilities	15,504	20,326
Commitments and contingencies (Note 11)
Stockholders’ equity:
Preferred stock, 1,000,000 shares authorized, no shares issued and outstanding	0	0
Common Stock, $.01 par value, 20,000,000 shares authorized; 14,204,082 and 14,030,481 shares issued, respectively; and 13,362,090 and 13,188,489 shares outstanding, respectively	142	140
Additional paid-in capital	96,800	96,040
Retained earnings	70,212	61,860
Accumulated other comprehensive loss	(17,460)	(17,824)
Treasury stock, at cost, 841,992 shares	(7,500)	(7,500)
Total stockholders’ equity	142,194	132,716
Total liabilities and stockholders’ equity	$ 157,698	$ 153,042

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2024	Sep. 30, 2023
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	20,000,000	20,000,000
Common stock, issued (in shares)	14,204,082	14,030,481
Common stock, outstanding (in shares)	13,362,090	13,188,489
Treasury stock, shares (in shares)	841,992	841,992

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Revenue:
Total revenue	$ 24,270,000	$ 31,370,000	$ 74,302,000	$ 62,479,000
Cost of revenue:
Total cost of revenue	18,389,000	18,421,000	46,185,000	38,996,000
Gross profit	5,881,000	12,949,000	28,117,000	23,483,000
Operating expenses:
Selling, general and administrative	6,546,000	6,387,000	12,372,000	12,822,000
Research and development	3,863,000	3,483,000	7,465,000	7,741,000
Provision for credit losses	(22,000)	17,000	(51,000)	137,000
Total operating expenses	10,387,000	9,887,000	19,786,000	20,700,000
Income (loss) from operations	(4,506,000)	4,377,000	8,331,000	4,098,000
Other income (expense):
Interest expense	(44,000)	(39,000)	(100,000)	(78,000)
Interest income	247,000	127,000	482,000	283,000
Foreign currency transaction gains (losses), net	(20,000)	185,000	(183,000)	292,000
Other, net	7,000	6,000	(67,000)	(6,000)
Total other income, net	190,000	279,000	132,000	491,000
Income (loss) before income taxes	(4,316,000)	4,656,000	8,463,000	4,589,000
Income tax expense	11,000	19,000	111,000	49,000
Net income (loss)	$ (4,327,000)	$ 4,637,000	$ 8,352,000	$ 4,540,000
Income (loss) per common share:
Basic (in dollars per share)	$ (0.32)	$ 0.35	$ 0.63	$ 0.35
Diluted (in dollars per share)	$ (0.32)	$ 0.35	$ 0.62	$ 0.35
Weighted average common shares outstanding:
Basic (in shares)	13,343,793	13,156,715	13,297,324	13,111,866
Diluted (in shares)	13,343,793	13,156,715	13,471,775	13,111,866
Satellite Property [Member]
Operating expenses:
Gain on disposal of property	$ 0	$ 1,315,000	$ 0	$ 1,315,000
Product [Member]
Revenue:
Total revenue	19,497,000	17,701,000	63,211,000	37,249,000
Cost of revenue:
Total cost of revenue	14,995,000	13,196,000	38,837,000	28,561,000
Rental [Member]
Revenue:
Total revenue	4,773,000	13,669,000	11,091,000	25,230,000
Cost of revenue:
Total cost of revenue	$ 3,394,000	$ 5,225,000	$ 7,348,000	$ 10,435,000

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Net income	$ (4,327)	$ 4,637	$ 8,352	$ 4,540
Other comprehensive income (loss):
Change in unrealized gains on available-for-sale securities, net of tax	(20)	7	(5)	15
Foreign currency translation adjustments	(122)	(1,348)	369	(1,342)
Total other comprehensive income (loss)	(142)	(1,341)	364	(1,327)
Total comprehensive income (loss)	$ (4,469)	$ 3,296	$ 8,716	$ 3,213

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock Outstanding [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock, Common [Member]	Total
Balance (in shares) at Sep. 30, 2022	13,021,241
Balance at Sep. 30, 2022		$ 139	$ 94,667	$ 49,654	$ (15,313)	$ (7,500)	$ 121,647
Net income		0	0	(97)	0	0	(97)
Other comprehensive income (loss)		0	0	0	14	0	14
Issuance of common stock pursuant to the vesting of restricted stock units (in shares)	109,748
Issuance of common stock pursuant to the vesting of restricted stock units		1	0	0	0	0	1
Stock-based compensation		0	370	0	0	0	370
Balance (in shares) at Dec. 31, 2022	13,130,989
Balance at Dec. 31, 2022		140	95,037	49,557	(15,299)	(7,500)	121,935
Balance (in shares) at Sep. 30, 2022	13,021,241
Balance at Sep. 30, 2022		139	94,667	49,654	(15,313)	(7,500)	121,647
Net income							4,540
Other comprehensive income (loss)							(1,327)
Balance (in shares) at Mar. 31, 2023	13,171,489
Balance at Mar. 31, 2023		140	95,343	54,194	(16,640)	(7,500)	125,537
Balance (in shares) at Dec. 31, 2022	13,130,989
Balance at Dec. 31, 2022		140	95,037	49,557	(15,299)	(7,500)	121,935
Net income		0	0	4,637	0	0	4,637
Other comprehensive income (loss)		0	0	0	(1,341)	0	(1,341)
Issuance of common stock pursuant to the vesting of restricted stock units (in shares)	40,500
Issuance of common stock pursuant to the vesting of restricted stock units		0	0	0	0	0	0
Stock-based compensation		0	306	0	0	0	306
Balance (in shares) at Mar. 31, 2023	13,171,489
Balance at Mar. 31, 2023		140	95,343	54,194	(16,640)	(7,500)	125,537
Balance (in shares) at Sep. 30, 2023	13,188,489
Balance at Sep. 30, 2023		140	96,040	61,860	(17,824)	(7,500)	132,716
Net income		0	0	12,679	0	0	12,679
Other comprehensive income (loss)		0	0	0	506	0	506
Issuance of common stock pursuant to the vesting of restricted stock units (in shares)	128,601
Issuance of common stock pursuant to the vesting of restricted stock units		2	(2)	0	0	0	0
Stock-based compensation		0	406	0	0	0	406
Balance (in shares) at Dec. 31, 2023	13,317,090
Balance at Dec. 31, 2023		142	96,444	74,539	(17,318)	(7,500)	146,307
Balance (in shares) at Sep. 30, 2023	13,188,489
Balance at Sep. 30, 2023		140	96,040	61,860	(17,824)	(7,500)	132,716
Net income							8,352
Other comprehensive income (loss)							364
Balance (in shares) at Mar. 31, 2024	13,362,090
Balance at Mar. 31, 2024		142	96,800	70,212	(17,460)	(7,500)	142,194
Balance (in shares) at Dec. 31, 2023	13,317,090
Balance at Dec. 31, 2023		142	96,444	74,539	(17,318)	(7,500)	146,307
Net income		0	0	(4,327)	0	0	(4,327)
Other comprehensive income (loss)		0	0	0	(142)	0	(142)
Issuance of common stock pursuant to the vesting of restricted stock units (in shares)	45,000
Issuance of common stock pursuant to the vesting of restricted stock units		0	0	0	0	0	0
Stock-based compensation		0	356	0	0	0	356
Balance (in shares) at Mar. 31, 2024	13,362,090
Balance at Mar. 31, 2024		$ 142	$ 96,800	$ 70,212	$ (17,460)	$ (7,500)	$ 142,194

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income	$ 8,352	$ 4,540
Adjustments to reconcile net income to net cash used in operating activities:
Deferred income tax expense	15	0
Rental equipment depreciation	6,026	6,442
Property, plant and equipment depreciation	1,682	1,896
Amortization of intangible assets	204	430
Amortization of premiums (accretion of discounts) on short-term investments	(234)	1
Stock-based compensation expense	762	676
Provision for credit losses	(51)	137
Inventory obsolescence expense	110	1,836
Gross profit from sale of rental equipment	(20,553)	(3,925)
Effects of changes in operating assets and liabilities:
Trade accounts and note receivable	5,963	(8,352)
Inventories	(5,566)	(7,882)
Other assets	873	1,702
Accounts payable trade	(684)	(574)
Other liabilities	(3,180)	(226)
Net cash used in operating activities	(6,271)	(5,078)
Cash flows from investing activities:
Purchase of property, plant and equipment	(3,166)	(1,126)
Proceeds from the sale of property, plant and equipment	2	4,221
Investment in rental equipment	(3,949)	(635)
Proceeds from the sale of rental equipment	30,502	8,794
Purchases of short-term investments	(19,293)	0
Proceeds from the sale of short-term investments	4,000	900
Net cash provided by investing activities	8,096	12,154
Cash flows from financing activities:
Payments on contingent consideration	0	(175)
Effect of exchange rate changes on cash	134	(205)
Increase in cash and cash equivalents	1,959	6,696
Cash and cash equivalents, beginning of period	18,803	16,109
Cash and cash equivalents, end of period	20,762	22,805
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for income taxes	0	26
Inventory transferred to rental equipment	5,352	82
Satellite Property [Member]
Adjustments to reconcile net income to net cash used in operating activities:
Loss (gain) on disposal of property and equipment	0	(1,315)
Equipment [Member]
Adjustments to reconcile net income to net cash used in operating activities:
Loss (gain) on disposal of property and equipment	$ 10	$ (464)

Note 1 - Significant Accounting

Note 1 - Significant Accounting Policies	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Basis of Presentation The consolidated balance sheet of Geospace Technologies Corporation and its subsidiaries (the “Company”) at September 30, 2023 March 31, 2024 three six March 31, 2024 2023 three six March 31, 2024 not Certain information and footnote disclosures normally included in financial statements presented in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") were omitted pursuant to the rules of the Securities and Exchange Commission. The accompanying consolidated financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10 September 30, 2023 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 in the financial statements and accompanying notes. The Company considers many factors in selecting appropriate operational and financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. The Company continually evaluates 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 assets and deferred income tax assets. The Company bases its estimates on historical experience and various other factors that are believed to be reasonable under the circumstances. While management believes current estimates are reasonable and appropriate, actual results may 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 March 31, 2024 may 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 or group of assets may not March 31, 2024 no may not Recently Adopted Accounting Pronouncements In June 2016, October 1, 2023. not Recently Issued Accounting Pronouncements In November 2023, December 15, 2023, December 15, 2024. All other new accounting pronouncements that have been issued, but not not

Note 2 - Revenue Recognition

Note 2 - Revenue Recognition	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	2. In accordance with ASC Topic 606, Revenue from Contracts with Customers 606” The Company primarily derives product revenue from the sale of its manufactured products. Revenue from these product sales, including the sale of used rental equipment, is recognized when obligations under the terms of a contract are satisfied, control is transferred and collectability of the sales price is probable. The Company records deferred revenue when customer funds are received prior to shipment or delivery or performance has not not not not Revenue from engineering services is recognized as services are rendered over the duration of a project, or as billed on a per hour basis. Field service revenue is recognized when services are rendered and is generally priced on a per day rate. The Company also generates revenue from short-term rentals under operating leases of its manufactured products. Rental revenue is recognized as earned over the rental period if collectability of the rent is reasonably assured. Rentals of the Company’s equipment generally range from daily rentals to minimum rental periods of up to one 606 not 842, Leases As permissible under ASC 606, not one one The Company has elected to treat shipping and handling activities in a sales transaction after the customer obtains control of the goods as a fulfillment cost and not At March 31, 2024 September 30, 2023 three six March 31, 2024 three six March 31, 2024 three six March 31, 2023 March 31, 2024 one For each of the Company’s operating segments, the following table presents revenue (in thousands) only from the sale of products and the performance of services under contracts with customers. Therefore, the table excludes all revenue earned from rental contracts. Three Months Ended Six Months Ended March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 Oil and Gas Markets Traditional exploration product revenue $ 3,472 $ 3,296 $ 5,234 $ 6,051 Wireless exploration product revenue 2,679 1,411 34,548 7,170 Reservoir product revenue 41 132 114 287 Total revenue 6,192 4,839 39,896 13,508 Adjacent Markets Industrial product revenue 9,023 9,642 15,466 17,572 Imaging product revenue 3,169 3,029 6,502 5,885 Total revenue 12,192 12,671 21,968 23,457 Emerging Markets Revenue 1,113 191 1,347 284 Total $ 19,497 $ 17,701 $ 63,211 $ 37,249 See Note 12 For each of the geographic areas where the Company operates, the following table presents revenue (in thousands) from the sale of products and services under contracts with customers. The table excludes all revenue earned from rental contracts: Three Months Ended Six Months Ended March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 Asia (including Russian Federation) $ 3,672 $ 1,443 $ 35,888 $ 7,977 Canada 1,002 333 2,228 1,094 Europe 1,507 1,792 2,885 2,926 United States 12,831 13,479 21,249 24,070 Other 485 654 961 1,182 Total $ 19,497 $ 17,701 $ 63,211 $ 37,249 Revenue is attributable to countries based on the ultimate destination of the product sold, if known. If the ultimate destination is not

Note 3 - Short-term Investments

Note 3 - Short-term Investments	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	3. The Company classifies its short-term investments as available-for-sale securities. Available-for-sale securities are carried at fair market value with net unrealized gains and losses reported as a component of accumulated other comprehensive loss in stockholders’ equity. The Company’s short-term investments were composed of the following (in thousands): As of March 31, 2024 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Short-term investments: Corporate bonds $ 21,937 $ — $ (14 ) $ 21,923 U.S. treasury securities and securities of U.S. government-sponsored agency 8,526 — (1 ) 8,525 Total $ 30,463 $ — $ (15 ) $ 30,448 As of September 30, 2023 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Short-term investments: Corporate bonds $ 11,310 $ — $ (15 ) $ 11,295 U.S. treasury securities and securities of U.S. government-sponsored agency 3,622 4 — 3,626 Total $ 14,932 $ 4 $ (15 ) $ 14,921 The Company had no securities in a material unrealized loss position at March 31, 2024 September 30, 2023 not not six March 31, 2024 2023

Note 4 - Fair Value of Financia

Note 4 - Fair Value of Financial Instruments	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	4. The Company’s financial instruments generally include cash and cash equivalents, short-term investments, trade accounts and notes receivable and accounts payable. Due to the short-term maturities of cash and cash equivalents, trade accounts and notes receivable and accounts payable, the carrying amounts of these financial instruments are deemed to approximate their fair value on the respective balance sheet dates. The Company measures its short-term investments at fair value on a recurring basis. The following tables present the fair value of the Company’s short-term investments and contingent consideration by valuation hierarchy and input (in thousands): As of March 31, 2024 Quoted Prices in Significant Active Markets for Other Significant Identical Assets Observable Unobservable (Level 1) (Level 2) (Level 3) Totals Short-term investments: Corporate bonds $ — $ 21,923 $ — $ 21,923 U.S. treasury securities and securities of U.S. government-sponsored agency 8,525 8,525 Total assets $ — $ 30,448 $ — $ 30,448 As of September 30, 2023 Quoted Prices in Significant Active Markets for Other Significant Identical Assets Observable Unobservable (Level 1) (Level 2) (Level 3) Totals Short-term investments: Corporate bonds $ — $ 11,295 $ — $ 11,295 U.S. treasury securities and securities of U.S. government-sponsored agency — 3,626 — 3,626 Total assets $ — $ 14,921 $ — $ 14,921

Note 5 - Trade Accounts and Not

Note 5 - Trade Accounts and Notes Receivable	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	5. Trade accounts receivable, net (excluding notes receivable) are reflected in the following table (in thousands): March 31, 2024 September 30, 2023 Trade accounts receivable $ 16,907 $ 20,282 Allowance for credit losses (67 ) (125 ) Total 16,840 20,157 Less current portion (15,330 ) (20,157 ) Non-current trade accounts receivable $ 1,510 $ — Trade accounts receivable at March 31, 2024 December 2025. not Allowance for credit losses related to trade accounts receivable are reflected in the following table (in thousands): Three Months Ended Six Months Ended March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 Allowance for credit losses: Beginning of period 92 689 125 591 Provision for credit losses 12 98 55 384 Recoveries (34 ) (81 ) (106 ) (247 ) Write-offs — — (7 ) (6 ) Currency translation (3 ) — — (16 ) End of period $ 67 $ 706 $ 67 $ 706 The Company had one September 30, 2023 January 2024.

Note 6 - Inventories

Note 6 - Inventories	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	6. Inventories consist of the following (in thousands): March 31, 2024 September 30, 2023 Finished goods $ 19,078 $ 18,555 Work in process 6,089 11,992 Raw materials 26,165 26,832 Obsolescence reserve (net realizable value adjustment) (9,259 ) (14,061 ) 42,073 43,318 Less current portion 23,932 18,430 Non-current portion $ 18,141 $ 24,888 Inventory obsolescence expense for the three six March 31, 2024 three six March 31, 2023 March 31, 2024 September 30, 2023

Note 7 -Rental Equipment

Note 7 -Rental Equipment	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Leases Disclosure [Text Block]	7. The Company leases equipment to customers which generally range from daily rentals to minimum rental periods of up to one The Company regularly evaluates the collectability of its lease receivables on a lease-by-lease basis. The evaluation primarily consists of reviewing past due account balances and other factors such as the credit quality of the customer, historical trends of the customer and current economic conditions. The Company suspends revenue recognition when the collectability of amounts due are no March 31, 2024 Rental revenue related to leased equipment for the three six March 31, 2024 three six March 31, 2023 Future minimum lease obligations due from the Company’s leasing customers on operating leases executed as of March 31, 2024 12 Rental equipment consisted of the following (in thousands): March 31, 2024 September 30, 2023 Rental equipment, primarily wireless recording equipment $ 76,909 $ 82,926 Accumulated depreciation (61,832 ) (61,339 ) $ 15,077 $ 21,587

Note 8 - Long-term Debt

Note 8 - Long-term Debt	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	8. The Company had no long-term debt outstanding at March 31, 2024 September 30, 2023 On July 26, 2023, May 6, 2022, no 1.00, 1.00, July 2025. March 31, 2024 March 31, 2024 March 31, 2024 September 30, 2023

Note 9 - Stock-based Compensati

Note 9 - Stock-based Compensation	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	9. During the six March 31, 2024 2014 four one As of March 31, 2024 March 31, 2024

Note 10 - Earnings (Loss) Per C

Note 10 - Earnings (Loss) Per Common Share	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	10. The following table summarizes the calculation of net earnings (loss) and weighted average common shares and common equivalent shares outstanding for purposes of the computation of earnings (loss) per share (in thousands, except share and per share data): Three Months Ended Six Months Ended March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 Net income (loss) $ (4,327 ) $ 4,637 $ 8,352 $ 4,540 Less: Income allocable to unvested restricted stock — — — — Income (loss) attributable to common shareholders for diluted earnings (loss) per share $ (4,327 ) $ 4,637 $ 8,352 $ 4,540 Weighted average number of common share equivalents: Common shares used in basic earnings (loss) per share 13,343,793 13,156,715 13,297,324 13,111,866 Common share equivalents outstanding related to RSUs — — 174,451 — Total weighted average common shares and common share equivalents used in diluted earnings (loss) per share 13,343,793 13,156,715 13,471,775 13,111,866 Earnings (loss) per share: Basic $ (0.32 ) $ 0.35 $ 0.63 $ 0.35 Diluted $ (0.32 ) $ 0.35 $ 0.62 $ 0.35 For the calculation of diluted earnings (loss) per share for the three March 31, 2024 2023, six March 31, 2024 2023

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	11. Contingent Compensation Costs In connection with the acquisition of Aquana, LLC (“Aquana”) in July 2021, six no first four six no Legal Proceedings The Company is involved in various pending legal actions in the ordinary course of its business. Management is unable to predict the ultimate outcome of these actions, because of the inherent uncertainty of such actions. However, management believes that the most probable, ultimate resolution of current pending matters will not

Note 12 - Segment Information

Note 12 - Segment Information	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	12. The Company reports and evaluates financial information for three The following table summarizes the Company’s segment information (in thousands): Three Months Ended Six Months Ended March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 Revenue: Oil and Gas Markets $ 10,847 $ 18,419 $ 50,756 $ 38,567 Adjacent Markets 12,235 12,708 22,050 23,530 Emerging Markets 1,113 191 1,347 284 Corporate 75 52 149 98 Total $ 24,270 $ 31,370 $ 74,302 $ 62,479 Income (loss) from operations: Oil and Gas Markets $ (3,135 ) $ 4,176 $ 11,428 $ 6,582 Adjacent Markets 2,796 3,055 4,830 4,802 Emerging Markets (651 ) (1,007 ) (1,276 ) (2,220 ) Corporate (3,516 ) (1,847 ) (6,651 ) (5,066 ) Total $ (4,506 ) $ 4,377 $ 8,331 $ 4,098

Note 13 - Income Taxes

Note 13 - Income Taxes	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	13. Consolidated income tax expense for the three six March 31, 2024 three six March 31, 2023

Note 14 - Risks and Uncertainti

Note 14 - Risks and Uncertainties	6 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Unusual Risks and Uncertainties [Table Text Block]	14. Concentration of Credit Risk As of March 31, 2024 three March 31, 2024 six March 31, 2024 COVID- 19 The ongoing COVID- 19 19 COVID–19 19 Oil Commodity Price Levels Demand for many of the Company’s products and the profitability of its operations depend primarily on the level of worldwide oil and gas exploration activity. Prevailing oil and gas prices, with an emphasis on crude oil prices, and market expectations regarding potential changes in such prices significantly affect the level of worldwide oil and gas exploration activity. During periods of improved energy commodity prices, the capital spending budgets of oil and natural gas operators tend to expand, which results in increased demand for our customers services leading to increased demand in the Company’s products. Conversely, in periods when these energy commodity prices deteriorate, capital spending budgets of oil and natural gas operators tend to contract causing demand for the Company’s products to weaken. Historically, the markets for oil and gas have been volatile and are subject to wide fluctuations in response to changes in the supply of and demand for oil and gas, market uncertainty and a variety of additional factors that are beyond its control. These factors include the level of consumer demand, regional and international economic conditions, weather conditions, domestic and foreign governmental regulations (including those related to climate change), price and availability of alternative fuels, political conditions, the war between Russia and Ukraine, instability and hostilities in the Middle East and other significant oil-producing regions, increases and decreases in the supply of oil and gas, the effect of worldwide energy conservation measures and the ability of the Organization of Petroleum Exporting Countries ("OPEC') to set and maintain production levels and prices of foreign imports. Crude oil prices have stabilized over the past 18 may Generally, imbalances in the supply and demand for oil and gas will affect oil and gas prices and, in such circumstances, demand for the Company’s oil and gas products may Armed Conflict Between Russia and Ukraine A portion of the Company's oil and gas product manufacturing is conducted through its wholly-owned subsidiary Geospace Technologies Eurasia LLC ("GTE"), which is based in the Russian Federation. In February 2022, 2023 first six 2024. may may The Company is actively monitoring the situation in Ukraine and Russia and assessing its impact on its business, including GTE. The net carrying value of GTE on the Company's consolidated balance sheet at March 31, 2024 may 2023 first six 2024. no

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		OTHER
Rule 10b5-1 Arrangement Terminated [Flag]	false
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The consolidated balance sheet of Geospace Technologies Corporation and its subsidiaries (the “Company”) at September 30, 2023 March 31, 2024 three six March 31, 2024 2023 three six March 31, 2024 not Certain information and footnote disclosures normally included in financial statements presented in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") were omitted pursuant to the rules of the Securities and Exchange Commission. The accompanying consolidated financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10 September 30, 2023
Use of Estimates, Policy [Policy Text Block]	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 in the financial statements and accompanying notes. The Company considers many factors in selecting appropriate operational and financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. The Company continually evaluates 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 assets and deferred income tax assets. The Company bases its estimates on historical experience and various other factors that are believed to be reasonable under the circumstances. While management believes current estimates are reasonable and appropriate, actual results may
Cash and Cash Equivalents, Policy [Policy Text Block]	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 March 31, 2024 may
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	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 or group of assets may not March 31, 2024 no may not
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements In June 2016, October 1, 2023. not Recently Issued Accounting Pronouncements In November 2023, December 15, 2023, December 15, 2024. All other new accounting pronouncements that have been issued, but not not

Note 2 - Revenue Recognition (T

Note 2 - Revenue Recognition (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended Six Months Ended March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 Oil and Gas Markets Traditional exploration product revenue $ 3,472 $ 3,296 $ 5,234 $ 6,051 Wireless exploration product revenue 2,679 1,411 34,548 7,170 Reservoir product revenue 41 132 114 287 Total revenue 6,192 4,839 39,896 13,508 Adjacent Markets Industrial product revenue 9,023 9,642 15,466 17,572 Imaging product revenue 3,169 3,029 6,502 5,885 Total revenue 12,192 12,671 21,968 23,457 Emerging Markets Revenue 1,113 191 1,347 284 Total $ 19,497 $ 17,701 $ 63,211 $ 37,249
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended Six Months Ended March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 Asia (including Russian Federation) $ 3,672 $ 1,443 $ 35,888 $ 7,977 Canada 1,002 333 2,228 1,094 Europe 1,507 1,792 2,885 2,926 United States 12,831 13,479 21,249 24,070 Other 485 654 961 1,182 Total $ 19,497 $ 17,701 $ 63,211 $ 37,249

Note 3 - Short-term Investmen_2

Note 3 - Short-term Investments (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]	As of March 31, 2024 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Short-term investments: Corporate bonds $ 21,937 $ — $ (14 ) $ 21,923 U.S. treasury securities and securities of U.S. government-sponsored agency 8,526 — (1 ) 8,525 Total $ 30,463 $ — $ (15 ) $ 30,448 As of September 30, 2023 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value Short-term investments: Corporate bonds $ 11,310 $ — $ (15 ) $ 11,295 U.S. treasury securities and securities of U.S. government-sponsored agency 3,622 4 — 3,626 Total $ 14,932 $ 4 $ (15 ) $ 14,921

Note 4 - Fair Value of Financ_2

Note 4 - Fair Value of Financial Instruments (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	As of March 31, 2024 Quoted Prices in Significant Active Markets for Other Significant Identical Assets Observable Unobservable (Level 1) (Level 2) (Level 3) Totals Short-term investments: Corporate bonds $ — $ 21,923 $ — $ 21,923 U.S. treasury securities and securities of U.S. government-sponsored agency 8,525 8,525 Total assets $ — $ 30,448 $ — $ 30,448 As of September 30, 2023 Quoted Prices in Significant Active Markets for Other Significant Identical Assets Observable Unobservable (Level 1) (Level 2) (Level 3) Totals Short-term investments: Corporate bonds $ — $ 11,295 $ — $ 11,295 U.S. treasury securities and securities of U.S. government-sponsored agency — 3,626 — 3,626 Total assets $ — $ 14,921 $ — $ 14,921

Note 5 - Trade Accounts and N_2

Note 5 - Trade Accounts and Notes Receivable (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Accounts Receivable [Table Text Block]	March 31, 2024 September 30, 2023 Trade accounts receivable $ 16,907 $ 20,282 Allowance for credit losses (67 ) (125 ) Total 16,840 20,157 Less current portion (15,330 ) (20,157 ) Non-current trade accounts receivable $ 1,510 $ —
Accounts Receivable, Allowance for Credit Loss [Table Text Block]	Three Months Ended Six Months Ended March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 Allowance for credit losses: Beginning of period 92 689 125 591 Provision for credit losses 12 98 55 384 Recoveries (34 ) (81 ) (106 ) (247 ) Write-offs — — (7 ) (6 ) Currency translation (3 ) — — (16 ) End of period $ 67 $ 706 $ 67 $ 706

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Inventory, Current and Noncurrent [Table Text Block]	March 31, 2024 September 30, 2023 Finished goods $ 19,078 $ 18,555 Work in process 6,089 11,992 Raw materials 26,165 26,832 Obsolescence reserve (net realizable value adjustment) (9,259 ) (14,061 ) 42,073 43,318 Less current portion 23,932 18,430 Non-current portion $ 18,141 $ 24,888

Note 7 -Rental Equipment (Table

Note 7 -Rental Equipment (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Table Text Block]	March 31, 2024 September 30, 2023 Rental equipment, primarily wireless recording equipment $ 76,909 $ 82,926 Accumulated depreciation (61,832 ) (61,339 ) $ 15,077 $ 21,587

Note 10 - Earnings (Loss) Per_2

Note 10 - Earnings (Loss) Per Common Share (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 Net income (loss) $ (4,327 ) $ 4,637 $ 8,352 $ 4,540 Less: Income allocable to unvested restricted stock — — — — Income (loss) attributable to common shareholders for diluted earnings (loss) per share $ (4,327 ) $ 4,637 $ 8,352 $ 4,540 Weighted average number of common share equivalents: Common shares used in basic earnings (loss) per share 13,343,793 13,156,715 13,297,324 13,111,866 Common share equivalents outstanding related to RSUs — — 174,451 — Total weighted average common shares and common share equivalents used in diluted earnings (loss) per share 13,343,793 13,156,715 13,471,775 13,111,866 Earnings (loss) per share: Basic $ (0.32 ) $ 0.35 $ 0.63 $ 0.35 Diluted $ (0.32 ) $ 0.35 $ 0.62 $ 0.35

Note 12 - Segment Information (

Note 12 - Segment Information (Tables)	6 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Six Months Ended March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 Revenue: Oil and Gas Markets $ 10,847 $ 18,419 $ 50,756 $ 38,567 Adjacent Markets 12,235 12,708 22,050 23,530 Emerging Markets 1,113 191 1,347 284 Corporate 75 52 149 98 Total $ 24,270 $ 31,370 $ 74,302 $ 62,479 Income (loss) from operations: Oil and Gas Markets $ (3,135 ) $ 4,176 $ 11,428 $ 6,582 Adjacent Markets 2,796 3,055 4,830 4,802 Emerging Markets (651 ) (1,007 ) (1,276 ) (2,220 ) Corporate (3,516 ) (1,847 ) (6,651 ) (5,066 ) Total $ (4,506 ) $ 4,377 $ 8,331 $ 4,098

Note 1 - Significant Accounti_2

Note 1 - Significant Accounting Policies (Details Textual) - Subsidiaries [Member] $ in Millions	Mar. 31, 2024 USD ($)
Non-US [Member]
Cash Equivalents, at Carrying Value	$ 3.3
RUSSIAN FEDERATION
Cash Equivalents, at Carrying Value	$ 2

Note 2 - Revenue Recognition (D

Note 2 - Revenue Recognition (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023
Contract with Customer, Liability, Current	$ 300		$ 300		$ 700
Capitalized Contract Cost, Net, Current	0		0		$ 0
Contract with Customer, Liability, Revenue Recognized, Including Balance	700	$ 0	700	$ 0
Contract with Customer, Liability, Cost of Revenue Recognized	$ 0	$ 0	$ 0	$ 0

Note 2 - Revenue Recognition -

Note 2 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Total revenue	$ 24,270	$ 31,370	$ 74,302	$ 62,479
Product [Member]
Total revenue	19,497	17,701	63,211	37,249
Operating Segments [Member] | Oil and Gas Markets [Member]
Total revenue	10,847	18,419	50,756	38,567
Operating Segments [Member] | Oil and Gas Markets [Member] | Traditional Exploration Product Revenue [Member]
Total revenue	3,472	3,296	5,234	6,051
Operating Segments [Member] | Oil and Gas Markets [Member] | Wireless Exploration Product Revenue [Member]
Total revenue	2,679	1,411	34,548	7,170
Operating Segments [Member] | Oil and Gas Markets [Member] | Reservoir Product Revenue [Member]
Total revenue	41	132	114	287
Operating Segments [Member] | Oil and Gas Markets [Member] | Product [Member]
Total revenue	6,192	4,839	39,896	13,508
Operating Segments [Member] | Adjacent Markets [Member]
Total revenue	12,235	12,708	22,050	23,530
Operating Segments [Member] | Adjacent Markets [Member] | Product [Member]
Total revenue	12,192	12,671	21,968	23,457
Operating Segments [Member] | Adjacent Markets [Member] | Industrial Product [Member]
Total revenue	9,023	9,642	15,466	17,572
Operating Segments [Member] | Adjacent Markets [Member] | Imaging Products [Member]
Total revenue	3,169	3,029	6,502	5,885
Operating Segments [Member] | Emerging Markets [Member]
Total revenue	1,113	191	1,347	284
Operating Segments [Member] | Emerging Markets [Member] | Product [Member]
Total revenue	$ 1,113	$ 191	$ 1,347	$ 284

Note 2 - Revenue Recognition _2

Note 2 - Revenue Recognition - Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Total revenue	$ 24,270	$ 31,370	$ 74,302	$ 62,479
Product [Member]
Total revenue	19,497	17,701	63,211	37,249
Asia [Member] | Product [Member]
Total revenue	3,672	1,443	35,888	7,977
CANADA | Product [Member]
Total revenue	1,002	333	2,228	1,094
Europe [Member] | Product [Member]
Total revenue	1,507	1,792	2,885	2,926
UNITED STATES | Product [Member]
Total revenue	12,831	13,479	21,249	24,070
Other [Member] | Product [Member]
Total revenue	$ 485	$ 654	$ 961	$ 1,182

Note 3 - Short-term Investmen_3

Note 3 - Short-term Investments (Details Textual) Pure in Thousands, $ in Thousands	6 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2023
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	0		0
Debt Securities, Realized Gain (Loss)	$ 0	$ 0

Note 3 - Short-term Investmen_4

Note 3 - Short-term Investments - Summary of Short-term Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Investments, amortized cost	$ 30,463	$ 14,932
Investments, unrealized gains	0	4
Investments, unrealized losses	(15)	(15)
Investments, fair value	30,448	14,921
Corporate Debt Securities [Member]
Investments, amortized cost	21,937	11,310
Investments, unrealized gains	0	0
Investments, unrealized losses	(14)	(15)
Investments, fair value	21,923	11,295
US Treasury and Government Short-Term Debt Securities [Member]
Investments, amortized cost	8,526	3,622
Investments, unrealized gains	0	4
Investments, unrealized losses	(1)	0
Investments, fair value	$ 8,525	$ 3,626

Note 4 - Fair Value of Financ_3

Note 4 - Fair Value of Financial Instruments - Fair Value by Hierarchy (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Total assets	$ 30,448	$ 14,921
Fair Value, Inputs, Level 1 [Member]
Total assets	0	0
Fair Value, Inputs, Level 2 [Member]
Total assets	30,448	14,921
Fair Value, Inputs, Level 3 [Member]
Total assets	0	0
Corporate Debt Securities [Member]
Short term investment	21,923	11,295
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Short term investment	0	0
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Short term investment	21,923	11,295
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Short term investment	0	0
US Treasury and Government Short-Term Debt Securities [Member]
Short term investment	8,525	3,626
US Treasury and Government Short-Term Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Short term investment		0
US Treasury and Government Short-Term Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Short term investment	$ 8,525	3,626
US Treasury and Government Short-Term Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Short term investment		$ 0

Note 5 - Trade Accounts and N_3

Note 5 - Trade Accounts and Notes Receivable (Details Textual) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Accounts Receivable, after Allowance for Credit Loss, Noncurrent	$ 1,510	$ 0
Trade Accounts for Sale of Product [Member]
Accounts Receivable, after Allowance for Credit Loss, Noncurrent	$ 1,500
Promissory Note for Sale of Product [Member]
Financing Receivable, before Allowance for Credit Loss		$ 1,200

Note 5 - Trade Accounts and N_4

Note 5 - Trade Accounts and Notes Receivable - Schedule of Trade Accounts and Notes Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022
Trade accounts receivable	$ 16,907		$ 20,282
Allowance for credit losses	(67)	$ (92)	(125)	$ (706)	$ (689)	$ (591)
Total	16,840		20,157
Less current portion	(15,330)		(20,157)
Accounts Receivable, after Allowance for Credit Loss, Noncurrent	$ 1,510		$ 0

Note 5 - Trade Accounts and N_5

Note 5 - Trade Accounts and Notes Receivable - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Beginning of period	$ 92	$ 689	$ 125	$ 591
Provision for credit losses	12	98	55	384
Recoveries	(34)	(81)	(106)	(247)
Write-offs	0	0	(7)	(6)
Currency translation	(3)	0	0	(16)
End of period	$ 67	$ 706	$ 67	$ 706

Note 6 - Inventories (Details T

Note 6 - Inventories (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023
Inventory Write-down	$ 100	$ 500	$ 110	$ 1,836
Inventory, Raw Materials, Gross	26,165		26,165		$ 26,832
Semi-finished Goods and Component Parts [Member]
Inventory, Raw Materials, Gross	$ 8,100		$ 8,100		$ 10,600

Note 6 - Inventories - Schedule

Note 6 - Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Finished goods	$ 19,078	$ 18,555
Work in process	6,089	11,992
Raw materials	26,165	26,832
Obsolescence reserve (net realizable value adjustment)	(9,259)	(14,061)
Inventory, Current and Noncurrent	42,073	43,318
Less current portion	23,932	18,430
Non-current portion	$ 18,141	$ 24,888

Note 7 -Rental Equipment (Detai

Note 7 -Rental Equipment (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023
Accounts Receivable, after Allowance for Credit Loss, Current	$ 15,330		$ 15,330		$ 20,157
Lease Receivable [Member]
Accounts Receivable, after Allowance for Credit Loss, Current	2,800		2,800
Operating Lease, Lease Income	4,700	$ 13,600	10,900	$ 25,100
Lessor, Operating Lease, Payment to be Received, Next Rolling 12 Months	$ 4,900		$ 4,900
Maximum [Member] | Equipment [Member]
Lessor, Operating Lease, Term of Contract (Year)	1 year		1 year

Note 7 - Rental Equipment - Ren

Note 7 - Rental Equipment - Rental Equipment (Details) - Equipment [Member] - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Rental equipment, primarily wireless recording equipment	$ 76,909	$ 82,926
Accumulated depreciation	(61,832)	(61,339)
Property, Plant, and Equipment, Lessor Asset under Operating Lease, after Accumulated Depreciation	$ 15,077	$ 21,587

Note 8 - Long-term Debt (Detail

Note 8 - Long-term Debt (Details Textual) - USD ($) $ in Thousands	Jul. 26, 2023	Mar. 31, 2024	Sep. 30, 2023
Long-Term Debt		$ 0	$ 0
Line of Credit [Member] | Woodforest National Bank [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 15,000
Line of Credit Facility, Borrowing Base as Percent of Certain Accounts Receivable	80%
Line of Credit Facility, Borrowing Base As Percent of Eligible Foreign Insured Accounts	90%
Line of Credit Facility, Borrowing Base as Percent of Eligible Inventory	25%
Line of Credit Facility, Borrowing Base as Percent of Forced Liquidation Value of Certain Inventory	50%
Debt Instrument, Basis Spread on Variable Rate	3.25%
Debt Instrument, Covenant, Minimum Consolidated Tangible Net Worth	$ 100,000
Debt Instrument, Covenant, Minimum Liquidity	$ 5,000
Line of Credit Facility, Current Borrowing Capacity		11,300
Long-Term Line of Credit		0	$ 0
Line of Credit [Member] | Woodforest National Bank [Member] | Minimum [Member]
Current Ratio	2
Interest Coverage Ratio	1.5
Letter of Credit [Member] | Woodforest National Bank [Member]
Long-Term Line of Credit		$ 100

Note 9 - Stock-based Compensa_2

Note 9 - Stock-based Compensation (Details Textual) - Restricted Stock Units (RSUs) [Member] $ / shares in Units, $ in Millions	6 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares	213,200
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ / shares	$ 12.23
Share Based Compensation Arrangement By Share Based Payment Award, Equity Instruments Other Than Options, Grants In Period, Grant Date Fair Value | $	$ 2.6
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year)	4 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number (in shares) | shares	400,020
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $	$ 2.9
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	2 years 9 months 18 days

Note 10 - Earnings (Loss) Per_3

Note 10 - Earnings (Loss) Per Common Share (Details Textual) - shares	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	400,020	394,924	225,569	394,924

Note 10 - Earnings (Loss) Per_4

Note 10 - Earnings (Loss) Per Common Share - Computation of Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2024	Mar. 31, 2023
Net income	$ (4,327)	$ 12,679	$ 4,637	$ (97)	$ 8,352	$ 4,540
Less: Income allocable to unvested restricted stock	0		0		0	0
Income (loss) attributable to common shareholders for diluted earnings (loss) per share	$ (4,327)		$ 4,637		$ 8,352	$ 4,540
Common shares used in basic earnings (loss) per share (in shares)	13,343,793		13,156,715		13,297,324	13,111,866
Common share equivalents outstanding related to RSUs (in shares)	0		0		174,451	0
Total weighted average common shares and common share equivalents used in diluted earnings (loss) per share (in shares)	13,343,793		13,156,715		13,471,775	13,111,866
Basic (in dollars per share)	$ (0.32)		$ 0.35		$ 0.63	$ 0.35
Diluted (in dollars per share)	$ (0.32)		$ 0.35		$ 0.62	$ 0.35

Note 11 - Commitments and Con_2

Note 11 - Commitments and Contingencies (Details Textual) - Aquana, LLC [Member] - USD ($) $ in Thousands	1 Months Ended
	Jul. 31, 2021	Mar. 31, 2024
Business Combination, Contingent Consideration, Earn Out Period (Year)	6 years
Business Combination, Required Continued Employment of Key Employees, Period (Year)	4 years
Business Combination, Contingent Consideration, Liability, Total		$ 0

Note 12 - Segment Information_2

Note 12 - Segment Information (Details Textual)	6 Months Ended
	Mar. 31, 2024
Number of Operating Segments	3

Note 12 - Segment Information -

Note 12 - Segment Information - Summary of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Revenue from Contract with Customer, Excluding Assessed Tax	$ 24,270	$ 31,370	$ 74,302	$ 62,479
Income (loss) from operations	(4,506)	4,377	8,331	4,098
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	75	52	149	98
Income (loss) from operations	(3,516)	(1,847)	(6,651)	(5,066)
Oil and Gas Markets [Member] | Operating Segments [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	10,847	18,419	50,756	38,567
Income (loss) from operations	(3,135)	4,176	11,428	6,582
Adjacent Markets [Member] | Operating Segments [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	12,235	12,708	22,050	23,530
Income (loss) from operations	2,796	3,055	4,830	4,802
Emerging Markets [Member] | Operating Segments [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	1,113	191	1,347	284
Income (loss) from operations	$ (651)	$ (1,007)	$ (1,276)	$ (2,220)

Note 13 - Income Taxes (Details

Note 13 - Income Taxes (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Tax Expense (Benefit)	$ 11,000	$ 19,000	$ 111,000	$ 49,000

Note 14 - Risks and Uncertain_2

Note 14 - Risks and Uncertainties (Details Textual) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)
Revenue from Contract with Customer, Excluding Assessed Tax	$ 24,270	$ 31,370	$ 74,302	$ 62,479
Geospace Technologies Eurasia LLC (GTE) [Member]
Imported Product for Resale			1,700		$ 3,800
Equity, Attributable to Noncontrolling Interest	5,500		5,500
Cash	2,000		2,000
Geospace Technologies Eurasia LLC (GTE) [Member] | Geographic Distribution, Domestic [Member]
Revenue from Contract with Customer, Excluding Assessed Tax			$ 1,500		$ 1,800
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Number of Major Customers			2
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer One [Member]
Accounts and Financing Receivable, after Allowance for Credit Loss	4,000		$ 4,000
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer Two [Member]
Accounts and Financing Receivable, after Allowance for Credit Loss	$ 2,200		$ 2,200
Customer Concentration Risk [Member] | Revenue from Contract with Customer Benchmark [Member]
Number of Major Customers	2		2
Customer Concentration Risk [Member] | Revenue from Contract with Customer Benchmark [Member] | Customer One [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 2,300		$ 33,700
Customer Concentration Risk [Member] | Revenue from Contract with Customer Benchmark [Member] | Customer Two [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 3,200		$ 6,700