Geospace Technologies (GEOS) 10-Q 7 Aug 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 30, 2020	Jul. 31, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Title of 12(b) Security	Common Stock
Trading Symbol	GEOS
Security Exchange Name	NASDAQ
Entity Registrant Name	GEOSPACE TECHNOLOGIES CORP
Entity Central Index Key	0001001115
Current Fiscal Year End Date	--09-30
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,663,614
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity File Number	001-13601
Entity Tax Identification Number	76-0447780
Entity Incorporation, State or Country Code	TX
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
Document Quarterly Report	true
Document Transition Report	false

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Current assets:
Cash and cash equivalents	$ 26,669	$ 18,925
Trade accounts and financing receivables, net	14,619	27,426
Inventories	21,531	23,855
Property held for sale	603
Prepaid expenses and other current assets	1,426	1,008
Total current assets	64,848	71,214
Non-current inventories	13,581	21,524
Rental equipment, net	58,571	62,062
Property, plant and equipment, net	30,511	31,474
Goodwill	5,008	5,008
Other intangible assets, net	8,764	10,063
Deferred cost of revenue and other assets	8,108	663
Total assets	189,391	202,008
Current liabilities:
Accounts payable trade	2,394	4,051
Deferred revenue and other current liabilities	7,172	9,119
Total current liabilities	9,566	13,170
Contingent consideration	11,574	9,940
Non-current deferred revenue and other liabilities	3,785	51
Total liabilities	24,925	23,161
Commitments and contingencies (Note 13)
Stockholders’ equity:
Preferred stock, 1,000,000 shares authorized, no shares issued and outstanding
Common stock, $.01 par value, 20,000,000 shares authorized, 13,664,614 and 13,630,666 shares issued and outstanding	137	136
Additional paid-in capital	90,342	88,660
Retained earnings	90,430	105,808
Accumulated other comprehensive loss	(16,443)	(15,757)
Total stockholders’ equity	164,466	178,847
Total liabilities and stockholders’ equity	$ 189,391	$ 202,008

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2020	Sep. 30, 2019
Statement Of Financial Position [Abstract]
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	13,664,614	13,630,666
Common stock, shares outstanding	13,664,614	13,630,666

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue:
Products	$ 6,975	$ 12,153	$ 25,575	$ 34,457
Revenue, Product and Service [Extensible List]	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Rental	$ 15,728	$ 10,720	$ 40,740	$ 32,414
Total revenue	22,703	22,873	66,315	66,871
Cost of revenue:
Products	$ 8,660	$ 10,508	$ 28,285	$ 32,967
Revenue, Product and Service [Extensible List]	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Rental	$ 5,979	$ 4,775	$ 19,564	$ 12,873
Total cost of revenue	14,639	15,283	47,849	45,840
Gross profit	8,064	7,590	18,466	21,031
Operating expenses:
Selling, general and administrative	5,704	6,050	17,767	17,493
Research and development	4,014	4,246	12,535	11,315
Change in estimated fair value of contingent consideration	662		1,634
Bad debt expense	248	629	406	599
Total operating expenses	10,628	10,925	32,342	29,407
Loss from operations	(2,564)	(3,335)	(13,876)	(8,376)
Other income (expense):
Interest expense	(8)	(28)	(31)	(85)
Interest income	574	446	924	898
Foreign exchange gains (losses), net	307	(1)	283	185
Other, net	(21)	(54)	(78)	(183)
Total other income, net	852	363	1,098	815
Loss before income taxes	(1,712)	(2,972)	(12,778)	(7,561)
Income tax expense	573	700	2,600	1,257
Net loss	$ (2,285)	$ (3,672)	$ (15,378)	$ (8,818)
Loss per common share:
Basic	$ (0.17)	$ (0.27)	$ (1.14)	$ (0.66)
Diluted	$ (0.17)	$ (0.27)	$ (1.14)	$ (0.66)
Weighted average common shares outstanding:
Basic	13,545,340	13,405,504	13,517,387	13,381,789
Diluted	13,545,340	13,405,504	13,517,387	13,381,789

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (2,285)	$ (3,672)	$ (15,378)	$ (8,818)
Other comprehensive income (loss):
Change in unrealized gains (losses) on available-for-sale securities, net of tax		(1)		82
Foreign currency translation adjustments	(235)	157	(686)	177
Total other comprehensive income (loss)	(235)	156	(686)	259
Total comprehensive loss	$ (2,520)	$ (3,516)	$ (16,064)	$ (8,559)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning Balance at Sep. 30, 2018	$ 176,587	$ 136	$ 86,116	$ 105,954	$ (15,619)
Beginning Balance, Shares at Sep. 30, 2018		13,600,541
Net income (loss)	(5,853)			(5,853)
Other comprehensive income (loss)	(154)				(154)
Issuance of restricted stock, Shares		8,000
Forfeiture of restricted stock, Shares		(250)
Issuance of common stock pursuant to the exercise of stock options	215		215
Issuance of common stock pursuant to the exercise of stock options, Shares		24,500
Stock-based compensation	602		602
Ending Balance at Dec. 31, 2018	171,397	$ 136	86,933	100,101	(15,773)
Ending Balance, Shares at Dec. 31, 2018		13,632,791
Beginning Balance at Sep. 30, 2018	176,587	$ 136	86,116	105,954	(15,619)
Beginning Balance, Shares at Sep. 30, 2018		13,600,541
Net income (loss)	(8,818)
Other comprehensive income (loss)	259
Foreign currency translation adjustments	177
Ending Balance at Jun. 30, 2019	170,024	$ 136	88,112	97,136	(15,360)
Ending Balance, Shares at Jun. 30, 2019		13,632,041
Beginning Balance at Dec. 31, 2018	171,397	$ 136	86,933	100,101	(15,773)
Beginning Balance, Shares at Dec. 31, 2018		13,632,791
Net income (loss)	707			707
Other comprehensive income (loss)	257				257
Forfeiture of restricted stock, Shares		(1,000)
Issuance of common stock pursuant to the vesting of restricted stock units, Shares		500
Stock-based compensation	592		592
Ending Balance at Mar. 31, 2019	172,953	$ 136	87,525	100,808	(15,516)
Ending Balance, Shares at Mar. 31, 2019		13,632,291
Net income (loss)	(3,672)			(3,672)
Other comprehensive income (loss)	156				156
Foreign currency translation adjustments	157
Forfeiture of restricted stock, Shares		(250)
Stock-based compensation	587		587
Ending Balance at Jun. 30, 2019	170,024	$ 136	88,112	97,136	(15,360)
Ending Balance, Shares at Jun. 30, 2019		13,632,041
Beginning Balance at Sep. 30, 2019	$ 178,847	$ 136	88,660	105,808	(15,757)
Beginning Balance, Shares at Sep. 30, 2019	13,630,666	13,630,666
Net income (loss)	$ (9,282)			(9,282)
Foreign currency translation adjustments	566				566
Issuance of common stock pursuant to the vesting of restricted stock units	1	$ 1
Issuance of common stock pursuant to the vesting of restricted stock units, Shares		30,823
Stock-based compensation	590		590
Ending Balance at Dec. 31, 2019	170,722	$ 137	89,250	96,526	(15,191)
Ending Balance, Shares at Dec. 31, 2019		13,661,489
Beginning Balance at Sep. 30, 2019	$ 178,847	$ 136	88,660	105,808	(15,757)
Beginning Balance, Shares at Sep. 30, 2019	13,630,666	13,630,666
Net income (loss)	$ (13,093)
Ending Balance at Mar. 31, 2020	166,427	$ 137	89,783	92,715	(16,208)
Ending Balance, Shares at Mar. 31, 2020		13,664,989
Beginning Balance at Sep. 30, 2019	$ 178,847	$ 136	88,660	105,808	(15,757)
Beginning Balance, Shares at Sep. 30, 2019	13,630,666	13,630,666
Net income (loss)	$ (15,378)
Other comprehensive income (loss)	(686)
Foreign currency translation adjustments	(686)
Ending Balance at Jun. 30, 2020	$ 164,466	$ 137	90,342	90,430	(16,443)
Ending Balance, Shares at Jun. 30, 2020	13,664,614	13,664,614
Beginning Balance at Dec. 31, 2019	$ 170,722	$ 137	89,250	96,526	(15,191)
Beginning Balance, Shares at Dec. 31, 2019		13,661,489
Net income (loss)	(3,811)			(3,811)
Foreign currency translation adjustments	(1,017)				(1,017)
Issuance of common stock pursuant to the vesting of restricted stock units, Shares		3,500
Stock-based compensation	533		533
Ending Balance at Mar. 31, 2020	166,427	$ 137	89,783	92,715	(16,208)
Ending Balance, Shares at Mar. 31, 2020		13,664,989
Net income (loss)	(2,285)			(2,285)
Other comprehensive income (loss)	(235)
Foreign currency translation adjustments	(235)				(235)
Forfeiture of restricted stock, Shares		(375)
Stock-based compensation	559		559
Ending Balance at Jun. 30, 2020	$ 164,466	$ 137	$ 90,342	$ 90,430	$ (16,443)
Ending Balance, Shares at Jun. 30, 2020	13,664,614	13,664,614

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net loss	$ (15,378)	$ (8,818)
Adjustments to reconcile net loss to net cash provided by operating activities:
Deferred income tax expense (benefit)	195	(22)
Rental equipment depreciation	13,643	9,703
Property, plant and equipment depreciation	3,029	3,012
Amortization of intangible assets	1,299	1,228
Amortization of premiums on short-term investments		(9)
Stock-based compensation expense	1,682	1,781
Bad debt expense	406	599
Inventory obsolescence expense	2,853	3,013
Change in estimate of collectability of rental revenue	7,993
Change in estimated fair value of contingent consideration	1,634
Gross profit from sale of used rental equipment	(698)	(244)
Gain on disposal of property, plant and equipment	(151)	(90)
Realized loss on short-term investments		66
Effects of changes in operating assets and liabilities:
Trade accounts and other receivables	2,059	(82)
Inventories	898	(4,036)
Deferred cost of revenue and other assets	(8,178)	171
Accounts payable trade	(1,654)	601
Deferred revenue and other liabilities	2,811	(740)
Net cash provided by operating activities	12,443	6,133
Cash flows from investing activities:
Purchase of property, plant and equipment	(2,559)	(1,426)
Proceeds from the sale of property, plant and equipment	204	130
Investment in rental equipment	(5,448)	(28,728)
Proceeds from the sale of used rental equipment	3,258	3,388
Proceeds from the sale of short-term investments		25,606
Business acquisition		(1,819)
Payments for damages related to insurance claim		(650)
Proceeds from insurance claim		1,166
Net cash used in investing activities	(4,545)	(2,333)
Cash flows from financing activities:
Proceeds from the exercise of stock options		215
Net cash provided by financing activities		215
Effect of exchange rate changes on cash	(154)	(351)
Increase in cash and cash equivalents	7,744	3,664
Cash and cash equivalents, beginning of fiscal year	18,925	11,934
Cash and cash equivalents, end of fiscal period	26,669	15,598
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest	31	85
Cash paid for income taxes	2,454	1,249
Inventory transferred to rental equipment	$ 6,220	$ 1,810

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	1. Significant Accounting Policies Basis of Presentation The consolidated balance sheet of Geospace Technologies Corporation and its subsidiaries (the “Company”) at September 30, 2019 was derived from the Company’s audited consolidated financial statements at that date. The consolidated balance sheet at June 30, 2020 and the consolidated statements of operations, comprehensive loss, stockholders’ equity and cash flows for the three and nine months ended June 30, 2020 and 2019 were prepared by the Company without audit. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary to present fairly the consolidated financial position, results of operations and cash flows were made. All intercompany balances and transactions have been eliminated. The results of operations for the three and nine months ended June 30, 2020 are not necessarily indicative of the operating results for a full year or of future operations. Certain information and footnote disclosures normally included in financial statements presented in accordance with accounting principles generally accepted in the United States of America 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-K for the Company’s fiscal year ended September 30, 2019. Reclassifications Certain amounts previously presented in the consolidated financial statements have been reclassified to conform to the current year presentation. Such reclassifications had no effect on previously reported net loss, stockholders’ equity or cash flows. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“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 consolidated financial statements. The Company continually evaluates its estimates, including those related to bad debt reserves, inventory obsolescence reserves, self-insurance reserves, product warranty reserves, impairment of long-lived 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 differ from these estimates under different conditions or assumptions. 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 to be cash equivalents. At June 30, 2020, cash and cash equivalents included $6.0 million held by the Company’s foreign subsidiaries and branch offices. If the Company were to repatriate the cash held by its foreign subsidiaries, it could be required to accrue and pay taxes on any amount repatriated. The Tax and Jobs Act (“2017 Tax Act”) creates new taxes on certain foreign earnings and also requires entities to pay a one-time transition tax on undistributed earnings of their foreign subsidiaries which were previously tax deferred. The Company has determined it is not required to pay transition tax on the undistributed earnings of its foreign subsidiaries since it had no accumulated foreign earnings on a consolidated basis. Recently Adopted Accounting Pronouncements The guidance also requires disclosures to help investors and other financial statement users to better understand the amount, timing and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative requirements, providing additional information about the amounts recorded in the financial statements. The Company adopted this guidance on October 1, 2019 using the optional transition method, which allows it to initially apply the new guidance at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings. No adjustment to the opening balance of retained earnings was required upon adoption . As a lessor of rental equipment, the adoption of this guidance had a material impact on the Company’s con solidated financial statements as it is now required to write-off existing operating lease receivables as a reduction of lease income when collectability of an operating lease receivable becomes less than probable. In June 2018, the FASB issued guidance expanding the scope of ASC Topic 718, Compensation - Stock Compensation In August 2018, the FASB issued guidance requiring certain existing disclosure requirements in ASC Topic 820, Fair Value Measurements and Disclosures Recently Issued Accounting Pronouncements In January 2017, the FASB issued guidance simplifying the current two-step goodwill impairment test by eliminating Step 2 of the test. The guidance requires a one-step impairment test in which an entity compares the fair value of a reporting unit with its carrying amount and recognizes an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, if any. This guidance is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years, and should be applied on a prospective basis. Early adoption is permitted for the interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company will adopt this standard during the first quarter of its fiscal year ending September 30, 2021 and is currently evaluating the impact of this new guidance on its financial statements. In June 2016, the FASB issued guidance surrounding credit losses for financial instruments that replaces the incurred loss impairment methodology in generally accepted accounting principles. The new impairment model requires immediate recognition of estimated credit losses expected to occur for most financial assets and certain other financial instruments. For available-for-sale debt securities with unrealized losses, credit losses will be recognized as allowances rather than reductions in the amortized cost of the securities. As a small reporting company, the Company must adopt this standard no later than the first quarter of its fiscal year ending September 30, 2024. Early adoption is permitted. The standard’s provisions will be applied as a cumulative-effect adjustment to retained earnings as of the beginning of the first effective reporting period. The Company intends to adopt this standard during the first quarter of its fiscal year ending September 30, 2024 and is currently evaluating the impact of this new guidance on its consolidated financial statements.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Jun. 30, 2020
Revenue From Contract With Customer [Abstract]
Revenue Recognition	2. Revenue Recognition On October 1, 2018, the Company adopted ASC Topic 606, Revenue from Contracts with Customers Under the new standard, the Company recognizes revenue when performance of contractual obligations are satisfied, generally when control of the promised goods or services is transferred to its customers, in an amount that reflects the consideration it expects to be entitled to in exchange for those goods or services. 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 assesses collectability during the contract assessment phase. In situations where collectability of the sales price is not probable, the Company recognizes revenue when it determines that collectability is probable or non-refundable cash is received from its customers. Transfer of control generally occurs with shipment or delivery, depending on the terms of the underlying contract. The Company’s products are generally sold without any customer acceptance provisions, and the Company’s standard terms of sale do not allow customers to return products for credit. 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 six months or longer. The Company has determined that ASC 606 does not apply to rental contracts, which are within the scope of ASC Topic 842, Leases . The cumulative effect of the changes made to the Company’s consolidated balance sheet as of October 1, 2018 resulting from the adoption of ASC 606 the new standard was not material and did not impact beginning retained earnings. The impact on the timing of sales and services for the fiscal year ended September 30, 2019 resulting from the application of the new standard was not material. As permissible under the new standard, sales taxes and transaction-based taxes are excluded from revenue. The Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less. Additionally, the Company expenses costs incurred to obtain contracts when incurred because the amortization period would have been one year or less. These costs are recorded in selling, general and administrative expenses. At June 30, 2020 and September 30, 2019, the Company had deferred contract liabilities of $0.1 million and zero, respectively. The Company had no deferred contract costs at June 30, 2020 and September 30, 2019. The deferred contract liabilities are included in current liabilities on the Company’s consolidated balance sheet as a component of deferred revenue and other current liabilities. During the three and nine months ended June 30, 2020, the Company recognized no revenue or cost of revenue from deferred contract liabilities or deferred contract costs. During the three and nine months ended June 30, 2019, the Company recognized revenue of $42,000 and $0.1 million, respectively, from deferred contract liabilities and cost of revenue of $35,000 and $27,000, respectively, from deferred contract costs. During the second quarter of fiscal year 2020, the Company partially financed a $12.5 million product sale by entering into a $10.0 million promissory note with the customer. The note is for a three-year For each of the Company’s operating segments, the following table presents revenue only from the sale of products and the performance of services under contracts with customers (in thousands). Therefore, the table excludes all revenue earned from rental contracts. Three Months Ended Nine Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Oil and Gas Markets Traditional exploration product revenue $ 1,162 $ 2,129 $ 4,749 $ 8,116 Wireless exploration product revenue 453 1,381 1,336 1,835 Reservoir product revenue 187 421 704 2,303 Total revenue 1,802 3,931 6,789 12,254 Adjacent Markets Industrial product revenue 3,403 5,364 11,185 13,046 Imaging product revenue 1,682 2,847 7,044 9,012 Total revenue 5,085 8,211 18,229 22,058 Emerging Markets Revenue 88 11 557 145 Total $ 6,975 $ 12,153 $ 25,575 $ 34,457 See Note 14 for more information on the Company’s operating segments. 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 Nine Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Asia $ 925 $ 1,094 $ 2,200 $ 4,162 Canada 509 1,202 1,776 1,832 Europe 1,193 1,023 3,865 3,108 United States 4,087 7,521 16,868 22,396 Other 261 1,313 866 2,959 Total $ 6,975 $ 12,153 $ 25,575 $ 34,457 Revenue is attributable to countries based on the ultimate destination of the product sold, if known. If the ultimate destination is not known, revenue is attributable to countries based on the geographic location of the initial shipment.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Jun. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	3. Derivative Financial Instruments At June 30, 2020 and September 30, 2019, the Company’s Canadian subsidiary had CAD $3.8 million and CAD $9.3 million, respectively, of Canadian dollar denominated intercompany accounts payable owed to one of the Company’s U.S. subsidiaries. In order to mitigate its exposure to movements in foreign currency rates between the U.S. dollar and Canadian dollar, the Company routinely enters into foreign currency forward contracts to hedge a portion of its exposure to changes in the value of the Canadian dollar. At June 30, 2020 and September 30, 2019, the Company had short-term hedge contracts of CAD $2.0 million and CAD $7.0 million, respectively, with a United States bank to reduce the impact on cash flows from movements in the Canadian dollar/U.S. dollar currency exchange rate, but the contract has not been designated as a hedge for accounting purposes. The following table summarizes the gross fair value of all derivative instruments, which are not designated as hedging instruments and their location in the consolidated balance sheets (in thousands). Derivative Instrument Location June 30, 2020 September 30, 2019 Foreign Currency Forward Contracts Accrued Expenses and Other Current Liabilities $ 13 $ 4 The following table summarizes the Company’s realized gains (losses) on derivative instruments included in the consolidated statements of operations for the three and nine months ended June 30, 2020 and 2019 (in thousands): Three Months Ended Nine Months Ended Derivative Instrument Location June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Foreign Currency Forward Contracts Other Income (Expense) $ (89 ) $ (142 ) $ 176 $ 497

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	4. Fair Value of Financial Instruments The Company’s financial instruments generally include cash and cash equivalents, short-term investments, foreign currency forward contracts, trade and other receivables and accounts payable. Due to the short-term maturities of cash and cash equivalents, trade and other receivables and accounts payable, the carrying amounts of these financial instruments are deemed to approximate their fair value on the respective balance sheet dates. The valuation technique used to measure the fair value of the contingent consideration was derived from models utilizing market observable inputs. The Company measures short-term investments and derivatives at fair value on a recurring basis. The following tables present the fair value of the Company’s contingent consideration and foreign currency forward contracts by valuation hierarchy and input (in thousands): As of June 30, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable (Level 2) Significant Unobservable (Level 3) Totals Contingent Consideration $ — $ — $ (11,574 ) $ (11,574 ) Foreign Currency Forward Contract — (13 ) — (13 ) Total $ — $ (13 ) $ (11,574 ) $ (11,587 ) As of September 30, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable (Level 2) Significant Unobservable (Level 3) Totals Contingent Consideration $ — $ — $ (9,940 ) $ (9,940 ) Foreign Currency Forward Contract — (4 ) — $ (4 ) Total $ — $ (4 ) $ (9,940 ) $ (9,944 ) Assets and liabilities measured on a nonrecurring basis The measurements utilized to determine the implied fair value of the Company’s contingent consideration as of June 30, 2020 represented significant unobservable inputs (Level 3). The following table summarizes changes in the fair value of the Company’s Level 3 financial instruments for the nine months ended June 30, 2020: Balance at October 1, 2019 $ 9,940 Fair value adjustments — Balance at December 31, 2019 9,940 Fair value adjustments 972 Balance at March 31, 2020 10,912 Fair value adjustments 662 Balance at June 30, 2020 $ 11,574 Adjustments to the fair value of the contingent consideration are based on Monte Carlo simulations utilizing inputs which include market comparable information and management assessments regarding potential future scenarios. The Company believes its estimates and assumptions are reasonable, however, there is significant judgement involved.

Trade Accounts Receivable and F

Trade Accounts Receivable and Financing Receivables	9 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Trade Accounts Receivable and Financing Receivables	5. Trade Accounts Receivable and Financing Receivables Trade accounts receivable, net (excluding financing receivables) is reflected in the following table (in thousands): June 30, 2020 September 30, 2019 Trade accounts receivable $ 14,874 $ 25,144 Allowance for doubtful accounts (1,189 ) (951 ) Total $ 13,685 $ 24,193 The allowance for doubtful accounts represents the Company’s best estimate of probable credit losses. The Company determines the allowance based upon historical experience and a current review of its accounts receivable balances. Accounts receivable balances are charged off against the allowance whenever it is probable that the receivable balance will not be recoverable. The following table summarizes changes in the Company’s allowance for doubtful accounts for the nine months ended June 30, 2020: Balance at October 1, 2019 $ 951 Bad debt expense, net of recoveries 406 Write-offs (168 ) Balance at June 30, 2020 $ 1,189 Trade accounts receivable at June 30, 2020 and September 30, 2019 includes $8.3 million and $8.5 million, respectively, due from an international seismic marine customer that, as of June 30, 2020, rented a significant amount of marine nodal equipment from the Company. The Company has experienced cash collection difficulties with this customer throughout fiscal year 2019 and through the third quarter of fiscal year 2020 due to the customer’s inability to generate sufficient cash flows to pay its obligations in a timely manner. As a result of the customer’s failure to adhere to an agreed-upon payment plan, in late November 2019, the Company ceased recognizing revenue from this customer and expects to continue to do so until the customer demonstrates its ability to routinely service its debts owed to the Company in the ordinary course of business. At June 30, 2020, the total debt contractually owed by the customer to the Company is $14.0 million; however, the customer’s trade accounts receivable balance of $8.3 million on the Company’s balance sheet at June 30, 2020 excludes $5.7 million of unrecognized rental revenue and late payment penalties invoiced by the Company during the nine months ended June 30, 2020. During the nine months ended June 30, 2020, the Company received cash payments of $6.2 million from this customer, of which $3.6 million was recognized as revenue during the third quarter of fiscal year 2020. The Company has received cash payments in excess of $24 million from this customer since the beginning of fiscal year 2018. The Company has significant concerns about the customer’s ability to ultimately settle the debts owed to the Company because of (i) its distressed financial condition, (ii) the customer’s inability to generate sufficient cash flows to fund its past operations, (iii) the customer’s failure to make payments in accordance with its promises, (iv) the belief that the distressed state of the oil and gas exploration industry caused by the recent oversupply of crude oil on the world market will further compound the difficulties facing the customer and (v) the failure by the customer to present a plausible plan to overcome the difficulties it currently faces. During fiscal year 2020, the Company recorded a reversal of an operating lease receivable and rental revenue of $8.0 million to reduce the carrying value of an operating lease receivable owed by the customer to zero. On May 26, 2020 the Company entered into an agreement with the customer to transition $13 million of unpaid invoices and late fees into a 24-month term debt security. The debt is secured by a third in line lien on the assets owned by the customer and has an 8% interest rate with bi-annual interest and principal payments. Principal payments can be made either in cash or in-kind payments in the form of additional debt security. In-kind principal payments require a 10% premium of interest. Subsequent to June 30, 2020, the customer completed their reorganization plan and issued the debt security on July 15, 2020 with a July 14, 2022 maturity date. The customer is required to list the debt instrument on the Oslo Stock Exchange or Nordic ABM within six months. However, the actual marketability of the debt security is unknown at this time. Financing receivables are reflected in the following table (in thousands): June 30, 2020 September 30, 2019 Promissory notes $ 281 $ 780 Sales-type lease 658 2,692 Total financing receivables 939 3,472 Unearned income: Sales-type lease (5 ) (55 ) Total unearned income (5 ) (55 ) Total financing receivables, net of unearned income 934 3,417 Less current portion (934 ) (3,233 ) Non-current financing receivables $ — $ 184 Promissory notes receivable are generally collateralized by the products sold, and bear interest at rates ranging up to 7% per year. The promissory notes receivable (including the unrecognized $10.0 million promissory note receivable disclosed below) mature at various times through January 2023. The Company has, on occasion, extended or renewed notes receivable as they mature, but there is no obligation to do so. During the second quarter of fiscal year 2020, the Company partially financed a $12.5 million product sale by entering into a $10.0 million secured promissory note with a customer. The note has a three-year The Company entered into a sales-type lease in September 2017 resulting from the sale of rental equipment. The sales-type lease has a term of three years. Future minimum lease payments required under the lease at June 30, 2020 were $0.7 million, including $5,000 of unearned income. The final future minimum lease payment is due in September 2020. Interest income earned on the lease for the three months ended June 30, 2020 and 2019 was $10,000 and $0.1 million, respectively. Interest income earned on the lease for the nine months ended June 30, 2020 and 2019 was $38,000 and $0.1 million, respectively. The ownership of the equipment will transfer to the lessee at the end of the lease term.

Inventories

Inventories	9 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Inventories	6. Inventories Inventories consist of the following (in thousands): June 30, 2020 September 30, 2019 Finished goods $ 18,266 $ 17,967 Work in process 2,297 3,681 Raw materials 48,728 55,781 Obsolescence reserve (34,179 ) (32,050 ) 35,112 45,379 Less current portion (21,531 ) (23,855 ) Non-current portion $ 13,581 $ 21,524 Raw materials included semi-finished goods and component parts that totaled approximately $22.8 million and $25.2 million at June 30, 2020 and September 30, 2019, respectively.

Leases

Leases	9 Months Ended
	Jun. 30, 2020
Rental Equipment [Abstract]
Leases	7. Leases As Lessee The Company has elected not to record operating right-of-use assets or operating lease liabilities with a term of 12 months or less on its consolidated balance sheet. Such leases are expensed on a straight-line basis over the lease term. The Company has one operating right-of use asset related to a leased facility in Austin, Texas. The lease commenced in May 2019 and is for a two-year term. The operating right-of-use asset had a balance of $0.1 million as of June 30, 2020. Future minimum lease payments related to the operating lease as of June 30, 2020 were as follows (in thousands): For fiscal years ending September 30, 2020 (remainder) $ 42 2021 84 Future minimum lease payments 126 Less interest (3 ) Present value of future minimum lease payments $ 123 The discount rate used on the lease was 5%, which represented the Company’s incremental borrowing rate at the lease’s inception. Operating lease costs are recorded in a single expense in the consolidated statements of operations and allocated to the right-of-use asset and the related lease liability as amortization expense and interest expense, respectively. Right-of-use asset operating lease costs of $38,000 and $0.1 million, and short-term lease costs of $0.1 million and $0.2 million, both included as a component of total operating expenses, were recognized for the three and nine months ended June 30, 2020, respectively. Supplemental cash flow information related to the operating lease is a follows (in thousands): Nine Months Ended June 30, 2020 Cash paid for amounts included in the measurement of lease liability $ 123 Operating lease asset obtained in exchange for new lease liability 219 As Lessor The Company leases equipment to customers primarily for terms of six months or less. The majority of the Company’s rental revenue is generated from its marine-based wireless seismic data acquisition system. All of the Company’s leasing arrangements as lessor are classified as operating leases except for one sales-type lease. See Note 5 for more information on this lease. 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 longer probable and records a direct write-off of the lease receivable to rental revenue. As of June 30, 2020, the Company had lease receivables from customers, net of reserves, of $ 10.1 million . Rental revenue for the three and nine months ended June 30, 2020 was $15.7 million and $40.7 million, respectively. Rental revenue for the three and nine months ended June 30, 2019 was and $10.7 million and $32.4 million, respectively. At June 30, 2020, future minimum lease obligations due from the Company’s leasing customers (all in fiscal year 2020) were $7.2 million, which excludes future lease payments on leases in which collection is not deemed probable. Rental equipment consisted of the following (in thousands): June 30, 2020 September 30, 2019 Rental equipment, primarily wireless recording equipment $ 115,099 $ 107,645 Accumulated depreciation and impairment (56,528 ) (45,583 ) $ 58,571 $ 62,062

Property Held for Sale

Property Held for Sale	9 Months Ended
	Jun. 30, 2020
Discontinued Operations And Disposal Groups [Abstract]
Property Held for Sale	8. Property Held for Sale The Company owns a property located in Bogot á

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	9. Goodwill and Other Intangible Assets The Company’s consolidated goodwill and other intangible assets consisted of the following (in thousands): Weighted- Average Remaining Useful Lives (in years) June 30, 2020 September 30, 2019 Goodwill $ 5,008 $ 5,008 Other intangible assets: Developed technology 16.2 5,918 5,918 Customer relationships 2.2 3,900 3,900 Trade names 3.2 1,930 1,930 Non-compete agreements 2.2 170 170 Total other intangible assets 9.3 11,918 11,918 Accumulated amortization (3,154 ) (1,855 ) $ 8,764 $ 10,063 At June 30, 2020, the Company determined there were no triggering events requiring an assessment of its goodwill and other intangible assets, as of, or during its fiscal quarter ended June 30, 2020. Other intangible assets amortization expense for each of the three and nine months ended June 30, 2020 was $0.4 million and $1.3 million, respectively. Other intangible assets amortization expense for the three and nine months ended June 30, 2019 was $0.4 million and $1.2 million, respectively. As of June 30, 2020, future estimated amortization expense of other intangible assets is as follows (in thousands): For fiscal years ending September 30, 2020 (remainder) $ 433 2021 1,732 2022 1,624 2023 714 2024 342 Thereafter 3,919 $ 8,764

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Jun. 30, 2020
Stockholders Equity Note [Abstract]
Accumulated Other Comprehensive Loss	10. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss consisted of the following (in thousands): Nine Months Ended June 30, 2020 Balance at October 1, 2019 $ (15,757 ) Foreign currency translation adjustments (686 ) Balance at June 30, 2020 $ (16,443 ) Nine Months Ended June 30, 2019 Balance at October 1, 2018 $ (15,619 ) Changes in unrealized gain on available-for-sale securities, net of tax 82 Foreign currency translation adjustments 177 Balance at June 30, 2019 $ (15,360 )

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	11. Stock-Based Compensation During the nine months ended June 30, 2020, the Company issued 162,250 restricted stock units (“RSUs”) under its 2014 Long Term Incentive Plan, as amended (the “Plan”). The RSUs issued include both time-based and performance-based vesting provisions. The weighted average grant date fair value of each RSU was $14.58 per unit. The grant date fair value of the RSUs was $2.4 million, which will be charged to expense over the next four years as the restrictions lapse. Compensation expense for RSUs was determined based on the closing market price of the Company’s stock on the date of grant applied to the total number of units that are anticipated to fully vest. Each RSU represents a contingent right to receive one share of the Company’s common stock upon vesting. As of June 30, 2020, the Company had unrecognized compensation expense of $3.2 million relating to RSUs that is expected to be recognized over a weighted average period of 2.9 years. As of June 30, 2020, the Company had $1.2 million of unrecognized compensation expense related to restricted stock awards (“RSAs”) that is expected to be recognized over a weighted average period of 1.4 years. As of June 30, 2020, there were 264,375 RSUs, 119,274 RSAs and 103,100 nonqualified stock options outstanding.

Loss Per Common Share

Loss Per Common Share	9 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Loss Per Common Share	12. Loss Per Common Share The following table summarizes the calculation of net loss and weighted average common shares and common equivalent shares outstanding for purposes of the computation of loss per share (in thousands, except share and per share data): Three Months Ended Nine Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Net loss $ (2,285 ) $ (3,672 ) $ (15,378 ) $ (8,818 ) Less: Loss allocable to unvested restricted stock — (12 ) — — Loss attributable to common shareholders for diluted earnings per share $ (2,285 ) $ (3,684 ) $ (15,378 ) $ (8,818 ) Weighted average number of common share equivalents: Common shares used in basic loss per share 13,545,340 13,405,504 13,517,387 13,381,789 Common share equivalents outstanding related to stock options and RSUs — — — — Total weighted average common shares and common share equivalents used in diluted loss per share 13,545,340 13,405,504 13,517,387 13,381,789 Loss per share: Basic $ (0.17 ) $ (0.27 ) $ (1.14 ) $ (0.66 ) Diluted $ (0.17 ) $ (0.27 ) $ (1.14 ) $ (0.66 ) For the calculation of diluted loss per share for the three and nine months ended June 30, 2020, 103,100 stock options and 264,375 non-vested RSUs were excluded in the calculation of weighted average shares outstanding since their impact on diluted loss per share was antidilutive. For the calculation of diluted loss per share for the three and nine months ended June 30, 2019, 163,800 stock options and 161,300 non-vested RSUs, respectively, were excluded in the calculation of weighted average shares outstanding since their impact on diluted loss per share was antidilutive.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	13. Commitments and Contingencies Contingent Consideration In connection with its acquisitions of Quantum Technology Sciences, Inc. (“Quantum”) and the OptoSeis ® The Company recorded an initial contingent earn-out liability of $7.7 million in connection with its July 2018 acquisition of Quantum. Contingent payments, if any, may be paid in the form of cash or Company stock and will be derived from eligible revenue generated during a four-year The Company recorded an initial contingent earn-out liability of $ 4.3 million in connection with its November 2018 acquisition of all the intellectual property and related assets of the OptoSeis ® fiber optic sensing technology. Contingent cash payments, if any, will be derived from eligible revenue generated during a five-and-a-half year earn-out period ending in May 2024 . The maximum amount of contingent payments is $ 23.2 million over the five-and-a-half year earn-out period. At September 30, 2019, the Company recorded a $ 0.8 million adjustment to increase the initial earn-out liability to an estimated value of $ 5.1 million. During the nine months ended June 30, 2020 , the Company recorded net adjustment s of $ million to in crease the earn-out liability to an estimated value of $ million. The Company reviews and assesses the fair value of its contingent earn-out liabilities on a quarterly basis. Operating Leases The Company leases office space and certain equipment for terms of two years or less. For the remaining three months of fiscal year 2020 and for fiscal year 2021, future minimum lease obligations for the Company’s operating right-of-use asset and other short-term leases were $0.1 million and $0.1 million, respectively. 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 these pending matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

Segment Information

Segment Information	9 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Information	14. Segment Information The Company reports and evaluates financial information for three operating segments: Oil and Gas Markets, Adjacent Markets and Emerging Markets. The Oil and Gas Markets segment products include wireless seismic data acquisition systems, reservoir characterization products and services, and traditional seismic exploration products such as geophones, hydrophones, leader wire, connectors, cables, marine streamer retrieval and steering devices and various other seismic products. The Adjacent Markets segment products include imaging equipment, water meter products, offshore cables, and seismic sensors used for vibration monitoring and geotechnical applications such as mine safety applications and earthquake detection. The Emerging Markets segment was added in conjunction with the Company’s acquisition of Quantum, which designs and markets seismic products targeted at the border and perimeter security markets. The following table summarizes the Company’s segment information (in thousands): Three Months Ended Nine Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Revenue: Oil and Gas Markets $ 17,509 $ 14,449 $ 47,452 $ 44,122 Adjacent Markets 5,106 8,234 18,306 22,128 Emerging Markets 88 11 557 145 Corporate — 179 — 476 Total $ 22,703 $ 22,873 $ 66,315 $ 66,871 Income (loss) from operations: Oil and Gas Markets $ 1,496 $ (280 ) $ (1,088 ) $ 451 Adjacent Markets 605 1,717 2,670 4,350 Emerging Markets (1,170 ) (1,388 ) (5,035 ) (3,760 ) Corporate (3,495 ) (3,384 ) (10,423 ) (9,417 ) Total $ (2,564 ) $ (3,335 ) $ (13,876 ) $ (8,376 )

Income Taxes

Income Taxes	9 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	15. Income Taxes Consolidated income tax expense for the three months ended June 30, 2020 and 2019 was $0.6 million and $0.7 million, respectively. This decrease in income tax expense was primarily the result of a decrease in rental revenue earned in foreign jurisdictions requiring tax withholding. Consolidated income tax expense for the nine months ended June 30, 2020 and 2019 was $2.6 million and $1.3 million, respectively. This increase in income tax expense was primarily the result of an increase in rental revenue earned in foreign jurisdictions requiring tax withholding . The Company is currently unable to record any tax benefits from the tax losses it incurs in the U.S ., Canada and Russian Federation due to the uncertainty surrounding its ability to utilize such losses in the future to offset taxable income.

Risks and Uncertainties

Risks and Uncertainties	9 Months Ended
	Jun. 30, 2020
Risks And Uncertainties [Abstract]
Risks and Uncertainties	16. Risks and Uncertainties Concentration of Credit Risk The Company’s revenue for the nine months ended June 30, 2020 includes $34.9 million from three customers which are affiliated with a common parent company. As of June 30, 2020, trade accounts receivables due from these customers was $10.4 million. COVID-19 Pandemic The present COVID-19 pandemic, has spread across the globe and is impacting worldwide economic activity, including the global demand for oil and natural gas. The COVID-19 pandemic poses the risk that the Company or its employees, contractors, suppliers and customers may be prevented from conducting business activities for an indefinite period of time, including due to the spread of the disease within these groups or restrictions that may be requested or mandated by governmental authorities, including quarantines of certain geographic areas, restrictions on travel and other restrictions that prohibit employees from going to work, both around the world as well as in certain jurisdictions in the United States. The Company has experienced a reduction in demand for certain products, cancellation of rental contracts and difficulty with field employees and salespeople traveling domestically and abroad to conduct the Company’s business. Subsequent to the end of the Company’s third fiscal quarter ended June 30, 2020, the Company has taken cost reducing steps (reduction of force) to adjust operating and manufacturing expenses in response to the reduction in sales as an effect of the COVID-19 pandemic. The continued spread of COVID–19 and the related mitigation measures may disrupt the Company’s supply chain potentially resulting in a significant decrease in business from its customers and/or cause its customers to be unable to meet existing payment or other obligations to the Company. If COVID–19 continues to spread or the response to contain COVID–19 pandemic is unsuccessful, the Company could experience a material adverse effect on its business, financial condition, results of operations and liquidity. Decrease in 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 products. Conversely, in periods when these energy commodity prices deteriorate, capital spending budgets of oil and natural gas operators tend to contract and the demand for our products generally weakens. 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 our control, such as the impact of the global COVID-19 pandemic. 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, 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 OPEC to set and maintain production levels and prices of foreign imports. Sustained low oil prices or the failure of oil prices to rise in the future and the resulting downturns or lack of growth in the energy industry and energy‑related business, could have a negative impact on the Company’s results of operations and financial condition. In light of the recent sharp decline in oil prices, oil and gas exploration and production companies are expected to experience a significant reduction in cash flows, which could result in reductions in their capital spending budgets for oil and gas exploration-focused activities, including seismic data acquisition activities. Demand for the Company’s seismic products targeted at customers in our Oil and Gas Markets segment, which segment has historically accounted for the majority of the Company’s revenue, could significantly diminish during fiscal year 2020 or beyond as a result of significant uncertainty in the outlook for oil and gas exploration. Specifically, the Company expects these challenging industry conditions to result in decreased demand for its marine wireless nodal products and its land-based seismic products, as the demand for such products, has been, and will likely continue to be, vulnerable to downturns in the economy and the oil and gas industry in general. In addition to the negative effects of slowdowns in the United States economy, slowing economic growth in growing economies like those in China and India could lead to a decline in demand for crude oil and natural gas. Slowdowns in economic activity would likely reduce worldwide demand for energy and result in an extended period of lower crude oil and natural gas prices. Any material changes in oil and gas prices or other market trends that adversely impact seismic exploration activity would likely affect the demand for the Company’s products and could materially and adversely affect its results of operations and liquidity. Generally, imbalances in the supply and demand for oil and gas will affect oil and gas prices and, in such circumstances, demand for our oil and gas products may be adversely affected when world supplies exceed demand.

Revision

Revision	9 Months Ended
	Jun. 30, 2020
Prior Period Adjustment [Abstract]
Revision	17. Revision Prior to the issuance of the Company’s consolidated financial statements for the third quarter ended June 30, 2020, the Company concluded that its previously issued consolidated financial statements for the first quarter ended December 31, 2019 and second quarter ended March 31, 2020 contained accounting errors with respect to the application of ASC 842 (Leases) and the reserve against an operating lease receivable. In the first quarter ended December 31, 2019, the Company determined the collection of future operating lease revenue from a customer was less than probable and ceased recognizing additional rental revenue while the existing operating lease receivable was deemed by the Company to be collectible. In the second quarter ended March 31, 2020, the Company recorded a reserve against the operating lease receivable to bad debt expense due to a subsequent determination that collection of the receivable had become less than probable. In accordance with the guidance of ASC 842, when collectability of the rental payments is not deemed probable then lease revenue is limited to cash received with an off-setting adjustment through rental revenue for any existing operating lease receivables and recording a reserve against operating lease receivables as an increase to bad debt expense is not permitted. As such, the outstanding operating lease receivable should have been reversed against rental revenue in the first quarter ended December 31, 2019 rather than recognized as bad debt expense in the second quarter ended March 31, 2020. The Company has revised its unaudited consolidated balance sheet at December 31, 2019, its unaudited statements of operations for the three months ended December 31, 2019, and its unaudited statements of operations for the three and six months ended March 31, 2020 to correct the identified errors. The Company concluded that these financial statements should be revised because of the accounting errors with respect to its application of ASC 842. The revision had no net impact on cash flows from operating activities for the three months ended December 31, 2019 and for the three and six months ended March 31, 2020. The impact of the correction of the errors on our unaudited consolidated balance sheet at December 31, 2019 was as follows (in thousands): As of December 31, 2019 As Reported Adjustment Revised Current assets: Cash and cash equivalents $ 10,141 $ — $ 10,141 Trade accounts and financing receivables, net 35,198 (7,993 ) 27,205 Inventories 23,907 — 23,907 Property held for sale 691 — 691 Prepaid expenses and other current assets 1,971 — 1,971 Total current assets 71,908 (7,993 ) 63,915 Non-current inventories 19,223 — 19,223 Rental equipment, net 66,985 — 66,985 Property, plant and equipment, net 31,615 — 31,615 Goodwill 5,008 — 5,008 Other intangible assets, net 9,630 — 9,630 Deferred cost of revenue and other assets 807 — 807 Total assets $ 205,176 (7,993 ) $ 197,183 Total liabilities $ 26,461 $ — $ 26,461 Stockholders’ equity: Preferred stock — — — Common stock 137 — 137 Additional paid-in capital 89,250 — 89,250 Retained earnings 104,519 (7,993 ) 96,526 Accumulated other comprehensive loss (15,191 ) — (15,191 ) Total stockholders’ equity 178,715 (7,993 ) 170,722 Total liabilities and stockholders’ equity $ 205,176 $ (7,993 ) $ 197,183 The impact of the correction of the error on our unaudited consolidated statement of operations for the three months ended December 31, 2019 was as follows (in thousands): Three Months Ended December 31, 2019 As Reported Adjustment Revised Revenue: Products $ 9,083 $ — $ 9,083 Rental 16,615 (7,993 ) 8,622 Total revenue 25,698 (7,993 ) 17,705 Cost of revenue 15,208 — 15,208 Gross profit 10,490 (7,993 ) 2,497 Total operating expenses 10,320 — 10,320 Income (loss) from operations 170 (7,993 ) (7,823 ) Other income (expense), net (39 ) — (39 ) Income (loss) before income taxes 131 (7,993 ) (7,862 ) Income tax expense 1,420 — 1,420 Net loss $ (1,289 ) $ (7,993 ) $ (9,282 ) Loss per common share: Basic $ (0.10 ) $ (0.59 ) $ (0.69 ) Diluted $ (0.10 ) $ (0.59 ) $ (0.69 ) The impact of the correction of the error on our unaudited consolidated statements of operations for the three and six months ended March 31, 2020 was as follows (in thousands): Three Months Ended March 31, 2020 Six Months Ended March 31, 2020 As Reported Adjustment Revised As Reported Adjustment Revised Revenue: Products $ 9,517 $ — $ 9,517 $ 18,600 $ — $ 18,600 Rental 16,390 — 16,390 33,005 (7,993 ) 25,012 Total revenue 25,907 — 25,907 51,605 (7,993 ) 43,612 Cost of revenue 18,002 — 18,002 33,210 — 33,210 Gross profit 7,905 — 7,905 18,395 (7,993 ) 10,402 Operating expenses: Selling, general and administrative 6,066 — 6,066 12,063 — 12,063 Research and development 4,225 — 4,225 8,521 — 8,521 Change in estimated fair value of contingent consideration 972 — 972 972 — 972 Bad debt expense 8,124 (7,993 ) 131 8,151 (7,993 ) 158 Total operating expenses 19,387 (7,993 ) 11,394 29,707 (7,993 ) 21,714 Loss from operations (11,482 ) 7,993 (3,489 ) (11,312 ) — (11,312 ) Other income, net 285 — 285 246 — 246 Loss before income taxes (11,197 ) 7,993 (3,204 ) (11,066 ) — (11,066 ) Income tax expense 607 — 607 2,027 — 2,027 Net loss $ (11,804 ) $ 7,993 $ (3,811 ) $ (13,093 ) $ — $ (13,093 ) Loss per common share: Basic $ (0.87 ) $ 0.59 $ (0.28 ) $ (0.97 ) $ — $ (0.97 ) Diluted $ (0.87 ) $ 0.59 $ (0.28 ) $ (0.97 ) $ — $ (0.97 )

Subsequent Events

Subsequent Events	9 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events In July 2020, the Company initiated a program to reduce operating costs in light of the decrease in demand for products in its Oil and Gas Markets and Adjacent Markets segments. The majority of the cost reductions will be realized through a reduction of over 100 employees, primarily from the Company’s Houston area workforce. In connection with the workforce reductions, the Company will incur approximately $0.8 million of termination costs in the fourth quarter of fiscal year 2020. The termination costs will be included as a component of both cost of revenue and operating expenses in the Company’s consolidated statement of operations.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated balance sheet of Geospace Technologies Corporation and its subsidiaries (the “Company”) at September 30, 2019 was derived from the Company’s audited consolidated financial statements at that date. The consolidated balance sheet at June 30, 2020 and the consolidated statements of operations, comprehensive loss, stockholders’ equity and cash flows for the three and nine months ended June 30, 2020 and 2019 were prepared by the Company without audit. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary to present fairly the consolidated financial position, results of operations and cash flows were made. All intercompany balances and transactions have been eliminated. The results of operations for the three and nine months ended June 30, 2020 are not necessarily indicative of the operating results for a full year or of future operations. Certain information and footnote disclosures normally included in financial statements presented in accordance with accounting principles generally accepted in the United States of America 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-K for the Company’s fiscal year ended September 30, 2019.
Reclassifications	Reclassifications Certain amounts previously presented in the consolidated financial statements have been reclassified to conform to the current year presentation. Such reclassifications had no effect on previously reported net loss, stockholders’ equity or cash flows.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“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 consolidated financial statements. The Company continually evaluates its estimates, including those related to bad debt reserves, inventory obsolescence reserves, self-insurance reserves, product warranty reserves, impairment of long-lived 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 differ from these estimates under different conditions or assumptions.
Cash and Cash Equivalents	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 to be cash equivalents. At June 30, 2020, cash and cash equivalents included $6.0 million held by the Company’s foreign subsidiaries and branch offices. If the Company were to repatriate the cash held by its foreign subsidiaries, it could be required to accrue and pay taxes on any amount repatriated. The Tax and Jobs Act (“2017 Tax Act”) creates new taxes on certain foreign earnings and also requires entities to pay a one-time transition tax on undistributed earnings of their foreign subsidiaries which were previously tax deferred. The Company has determined it is not required to pay transition tax on the undistributed earnings of its foreign subsidiaries since it had no accumulated foreign earnings on a consolidated basis.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements The guidance also requires disclosures to help investors and other financial statement users to better understand the amount, timing and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative requirements, providing additional information about the amounts recorded in the financial statements. The Company adopted this guidance on October 1, 2019 using the optional transition method, which allows it to initially apply the new guidance at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings. No adjustment to the opening balance of retained earnings was required upon adoption . As a lessor of rental equipment, the adoption of this guidance had a material impact on the Company’s con solidated financial statements as it is now required to write-off existing operating lease receivables as a reduction of lease income when collectability of an operating lease receivable becomes less than probable. In June 2018, the FASB issued guidance expanding the scope of ASC Topic 718, Compensation - Stock Compensation In August 2018, the FASB issued guidance requiring certain existing disclosure requirements in ASC Topic 820, Fair Value Measurements and Disclosures
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In January 2017, the FASB issued guidance simplifying the current two-step goodwill impairment test by eliminating Step 2 of the test. The guidance requires a one-step impairment test in which an entity compares the fair value of a reporting unit with its carrying amount and recognizes an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, if any. This guidance is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years, and should be applied on a prospective basis. Early adoption is permitted for the interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company will adopt this standard during the first quarter of its fiscal year ending September 30, 2021 and is currently evaluating the impact of this new guidance on its financial statements. In June 2016, the FASB issued guidance surrounding credit losses for financial instruments that replaces the incurred loss impairment methodology in generally accepted accounting principles. The new impairment model requires immediate recognition of estimated credit losses expected to occur for most financial assets and certain other financial instruments. For available-for-sale debt securities with unrealized losses, credit losses will be recognized as allowances rather than reductions in the amortized cost of the securities. As a small reporting company, the Company must adopt this standard no later than the first quarter of its fiscal year ending September 30, 2024. Early adoption is permitted. The standard’s provisions will be applied as a cumulative-effect adjustment to retained earnings as of the beginning of the first effective reporting period. The Company intends to adopt this standard during the first quarter of its fiscal year ending September 30, 2024 and is currently evaluating the impact of this new guidance on its consolidated financial statements.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Jun. 30, 2020
Revenue From Contract With Customer [Abstract]
Summary of Revenue from the Sale of Products and Performance of Services Under Contracts with Customers Excludes All Revenue Earned from Rental Contracts by Operating Segments	For each of the Company’s operating segments, the following table presents revenue only from the sale of products and the performance of services under contracts with customers (in thousands). Therefore, the table excludes all revenue earned from rental contracts. Three Months Ended Nine Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Oil and Gas Markets Traditional exploration product revenue $ 1,162 $ 2,129 $ 4,749 $ 8,116 Wireless exploration product revenue 453 1,381 1,336 1,835 Reservoir product revenue 187 421 704 2,303 Total revenue 1,802 3,931 6,789 12,254 Adjacent Markets Industrial product revenue 3,403 5,364 11,185 13,046 Imaging product revenue 1,682 2,847 7,044 9,012 Total revenue 5,085 8,211 18,229 22,058 Emerging Markets Revenue 88 11 557 145 Total $ 6,975 $ 12,153 $ 25,575 $ 34,457
Summary of Revenue from the Sale of Products and Services Under Contracts with Customers Excludes All Revenue Earned from Rental Contracts by Geographic Areas	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 Nine Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Asia $ 925 $ 1,094 $ 2,200 $ 4,162 Canada 509 1,202 1,776 1,832 Europe 1,193 1,023 3,865 3,108 United States 4,087 7,521 16,868 22,396 Other 261 1,313 866 2,959 Total $ 6,975 $ 12,153 $ 25,575 $ 34,457

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Jun. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Gross Fair Value of all Derivative Instruments	The following table summarizes the gross fair value of all derivative instruments, which are not designated as hedging instruments and their location in the consolidated balance sheets (in thousands). Derivative Instrument Location June 30, 2020 September 30, 2019 Foreign Currency Forward Contracts Accrued Expenses and Other Current Liabilities $ 13 $ 4
Company's Derivatives on Consolidated Financial Statements of Operations	The following table summarizes the Company’s realized gains (losses) on derivative instruments included in the consolidated statements of operations for the three and nine months ended June 30, 2020 and 2019 (in thousands): Three Months Ended Nine Months Ended Derivative Instrument Location June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Foreign Currency Forward Contracts Other Income (Expense) $ (89 ) $ (142 ) $ 176 $ 497

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Company's Contingent Consideration And Foreign Currency Forward Contracts	The following tables present the fair value of the Company’s contingent consideration and foreign currency forward contracts by valuation hierarchy and input (in thousands): As of June 30, 2020 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable (Level 2) Significant Unobservable (Level 3) Totals Contingent Consideration $ — $ — $ (11,574 ) $ (11,574 ) Foreign Currency Forward Contract — (13 ) — (13 ) Total $ — $ (13 ) $ (11,574 ) $ (11,587 ) As of September 30, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable (Level 2) Significant Unobservable (Level 3) Totals Contingent Consideration $ — $ — $ (9,940 ) $ (9,940 ) Foreign Currency Forward Contract — (4 ) — $ (4 ) Total $ — $ (4 ) $ (9,940 ) $ (9,944 )
Changes in Fair Value of Company Level 3 Financial Instruments	The following table summarizes changes in the fair value of the Company’s Level 3 financial instruments for the nine months ended June 30, 2020: Balance at October 1, 2019 $ 9,940 Fair value adjustments — Balance at December 31, 2019 9,940 Fair value adjustments 972 Balance at March 31, 2020 10,912 Fair value adjustments 662 Balance at June 30, 2020 $ 11,574

Trade Accounts Receivable and_2

Trade Accounts Receivable and Financing Receivables (Tables)	9 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Trade Accounts Receivable, Net	Trade accounts receivable, net (excluding financing receivables) is reflected in the following table (in thousands): June 30, 2020 September 30, 2019 Trade accounts receivable $ 14,874 $ 25,144 Allowance for doubtful accounts (1,189 ) (951 ) Total $ 13,685 $ 24,193
Summary of Allowance for Doubtful Accounts	The following table summarizes changes in the Company’s allowance for doubtful accounts for the nine months ended June 30, 2020: Balance at October 1, 2019 $ 951 Bad debt expense, net of recoveries 406 Write-offs (168 ) Balance at June 30, 2020 $ 1,189
Financing Receivables	Financing receivables are reflected in the following table (in thousands): June 30, 2020 September 30, 2019 Promissory notes $ 281 $ 780 Sales-type lease 658 2,692 Total financing receivables 939 3,472 Unearned income: Sales-type lease (5 ) (55 ) Total unearned income (5 ) (55 ) Total financing receivables, net of unearned income 934 3,417 Less current portion (934 ) (3,233 ) Non-current financing receivables $ — $ 184

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories consist of the following (in thousands): June 30, 2020 September 30, 2019 Finished goods $ 18,266 $ 17,967 Work in process 2,297 3,681 Raw materials 48,728 55,781 Obsolescence reserve (34,179 ) (32,050 ) 35,112 45,379 Less current portion (21,531 ) (23,855 ) Non-current portion $ 13,581 $ 21,524

Leases (Tables)

Leases (Tables)	9 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Future Minimum Lease Payments Related to Operating Lease	Future minimum lease payments related to the operating lease as of June 30, 2020 were as follows (in thousands): For fiscal years ending September 30, 2020 (remainder) $ 42 2021 84 Future minimum lease payments 126 Less interest (3 ) Present value of future minimum lease payments $ 123
Supplemental Cash Flow Information Related to Operating Lease	Supplemental cash flow information related to the operating lease is a follows (in thousands): Nine Months Ended June 30, 2020 Cash paid for amounts included in the measurement of lease liability $ 123 Operating lease asset obtained in exchange for new lease liability 219
Rental Equipment	Rental equipment consisted of the following (in thousands): June 30, 2020 September 30, 2019 Rental equipment, primarily wireless recording equipment $ 115,099 $ 107,645 Accumulated depreciation and impairment (56,528 ) (45,583 ) $ 58,571 $ 62,062

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Other Intangible Assets	The Company’s consolidated goodwill and other intangible assets consisted of the following (in thousands): Weighted- Average Remaining Useful Lives (in years) June 30, 2020 September 30, 2019 Goodwill $ 5,008 $ 5,008 Other intangible assets: Developed technology 16.2 5,918 5,918 Customer relationships 2.2 3,900 3,900 Trade names 3.2 1,930 1,930 Non-compete agreements 2.2 170 170 Total other intangible assets 9.3 11,918 11,918 Accumulated amortization (3,154 ) (1,855 ) $ 8,764 $ 10,063
Future Estimated Amortization Expense of Other intangible Assets	As of June 30, 2020, future estimated amortization expense of other intangible assets is as follows (in thousands): For fiscal years ending September 30, 2020 (remainder) $ 433 2021 1,732 2022 1,624 2023 714 2024 342 Thereafter 3,919 $ 8,764

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Jun. 30, 2020
Stockholders Equity Note [Abstract]
Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss consisted of the following (in thousands): Nine Months Ended June 30, 2020 Balance at October 1, 2019 $ (15,757 ) Foreign currency translation adjustments (686 ) Balance at June 30, 2020 $ (16,443 ) Nine Months Ended June 30, 2019 Balance at October 1, 2018 $ (15,619 ) Changes in unrealized gain on available-for-sale securities, net of tax 82 Foreign currency translation adjustments 177 Balance at June 30, 2019 $ (15,360 )

Loss Per Common Share (Tables)

Loss Per Common Share (Tables)	9 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Calculation of Net Loss and Weighted Average Common Shares and Common Equivalent Shares Outstanding for Computation of Loss Per Share	The following table summarizes the calculation of net loss and weighted average common shares and common equivalent shares outstanding for purposes of the computation of loss per share (in thousands, except share and per share data): Three Months Ended Nine Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Net loss $ (2,285 ) $ (3,672 ) $ (15,378 ) $ (8,818 ) Less: Loss allocable to unvested restricted stock — (12 ) — — Loss attributable to common shareholders for diluted earnings per share $ (2,285 ) $ (3,684 ) $ (15,378 ) $ (8,818 ) Weighted average number of common share equivalents: Common shares used in basic loss per share 13,545,340 13,405,504 13,517,387 13,381,789 Common share equivalents outstanding related to stock options and RSUs — — — — Total weighted average common shares and common share equivalents used in diluted loss per share 13,545,340 13,405,504 13,517,387 13,381,789 Loss per share: Basic $ (0.17 ) $ (0.27 ) $ (1.14 ) $ (0.66 ) Diluted $ (0.17 ) $ (0.27 ) $ (1.14 ) $ (0.66 )

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Summary of Company's Segment Information	The following table summarizes the Company’s segment information (in thousands): Three Months Ended Nine Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 Revenue: Oil and Gas Markets $ 17,509 $ 14,449 $ 47,452 $ 44,122 Adjacent Markets 5,106 8,234 18,306 22,128 Emerging Markets 88 11 557 145 Corporate — 179 — 476 Total $ 22,703 $ 22,873 $ 66,315 $ 66,871 Income (loss) from operations: Oil and Gas Markets $ 1,496 $ (280 ) $ (1,088 ) $ 451 Adjacent Markets 605 1,717 2,670 4,350 Emerging Markets (1,170 ) (1,388 ) (5,035 ) (3,760 ) Corporate (3,495 ) (3,384 ) (10,423 ) (9,417 ) Total $ (2,564 ) $ (3,335 ) $ (13,876 ) $ (8,376 )

Revision (Tables)

Revision (Tables)	9 Months Ended
	Jun. 30, 2020
Prior Period Adjustment [Abstract]
Impact of Correction of Errors on Unaudited Consolidated Balance Sheet and Statements of Operations	The impact of the correction of the errors on our unaudited consolidated balance sheet at December 31, 2019 was as follows (in thousands): As of December 31, 2019 As Reported Adjustment Revised Current assets: Cash and cash equivalents $ 10,141 $ — $ 10,141 Trade accounts and financing receivables, net 35,198 (7,993 ) 27,205 Inventories 23,907 — 23,907 Property held for sale 691 — 691 Prepaid expenses and other current assets 1,971 — 1,971 Total current assets 71,908 (7,993 ) 63,915 Non-current inventories 19,223 — 19,223 Rental equipment, net 66,985 — 66,985 Property, plant and equipment, net 31,615 — 31,615 Goodwill 5,008 — 5,008 Other intangible assets, net 9,630 — 9,630 Deferred cost of revenue and other assets 807 — 807 Total assets $ 205,176 (7,993 ) $ 197,183 Total liabilities $ 26,461 $ — $ 26,461 Stockholders’ equity: Preferred stock — — — Common stock 137 — 137 Additional paid-in capital 89,250 — 89,250 Retained earnings 104,519 (7,993 ) 96,526 Accumulated other comprehensive loss (15,191 ) — (15,191 ) Total stockholders’ equity 178,715 (7,993 ) 170,722 Total liabilities and stockholders’ equity $ 205,176 $ (7,993 ) $ 197,183 The impact of the correction of the error on our unaudited consolidated statement of operations for the three months ended December 31, 2019 was as follows (in thousands): Three Months Ended December 31, 2019 As Reported Adjustment Revised Revenue: Products $ 9,083 $ — $ 9,083 Rental 16,615 (7,993 ) 8,622 Total revenue 25,698 (7,993 ) 17,705 Cost of revenue 15,208 — 15,208 Gross profit 10,490 (7,993 ) 2,497 Total operating expenses 10,320 — 10,320 Income (loss) from operations 170 (7,993 ) (7,823 ) Other income (expense), net (39 ) — (39 ) Income (loss) before income taxes 131 (7,993 ) (7,862 ) Income tax expense 1,420 — 1,420 Net loss $ (1,289 ) $ (7,993 ) $ (9,282 ) Loss per common share: Basic $ (0.10 ) $ (0.59 ) $ (0.69 ) Diluted $ (0.10 ) $ (0.59 ) $ (0.69 ) The impact of the correction of the error on our unaudited consolidated statements of operations for the three and six months ended March 31, 2020 was as follows (in thousands): Three Months Ended March 31, 2020 Six Months Ended March 31, 2020 As Reported Adjustment Revised As Reported Adjustment Revised Revenue: Products $ 9,517 $ — $ 9,517 $ 18,600 $ — $ 18,600 Rental 16,390 — 16,390 33,005 (7,993 ) 25,012 Total revenue 25,907 — 25,907 51,605 (7,993 ) 43,612 Cost of revenue 18,002 — 18,002 33,210 — 33,210 Gross profit 7,905 — 7,905 18,395 (7,993 ) 10,402 Operating expenses: Selling, general and administrative 6,066 — 6,066 12,063 — 12,063 Research and development 4,225 — 4,225 8,521 — 8,521 Change in estimated fair value of contingent consideration 972 — 972 972 — 972 Bad debt expense 8,124 (7,993 ) 131 8,151 (7,993 ) 158 Total operating expenses 19,387 (7,993 ) 11,394 29,707 (7,993 ) 21,714 Loss from operations (11,482 ) 7,993 (3,489 ) (11,312 ) — (11,312 ) Other income, net 285 — 285 246 — 246 Loss before income taxes (11,197 ) 7,993 (3,204 ) (11,066 ) — (11,066 ) Income tax expense 607 — 607 2,027 — 2,027 Net loss $ (11,804 ) $ 7,993 $ (3,811 ) $ (13,093 ) $ — $ (13,093 ) Loss per common share: Basic $ (0.87 ) $ 0.59 $ (0.28 ) $ (0.97 ) $ — $ (0.97 ) Diluted $ (0.87 ) $ 0.59 $ (0.28 ) $ (0.97 ) $ — $ (0.97 )

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Details)	9 Months Ended
	Jun. 30, 2020USD ($)
Accounting Policies [Abstract]
Cash and cash equivalents held by foreign subsidiaries and branch offices	$ 6,000,000
Transition tax on undistributed earnings of foreign subsidiaries	0
Accumulated foreign earnings	$ 0

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($)	3 Months Ended				6 Months Ended	9 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2019
Disaggregation Of Revenue [Line Items]
Deferred contract liabilities	$ 100,000					$ 100,000		$ 0
Deferred contract costs	0					0		0
Revenue	6,975,000	$ 9,517,000	$ 9,083,000	$ 12,153,000	$ 18,600,000	25,575,000	$ 34,457,000
Cost of revenue recognized from deferred contract cost	0			35,000		0	27,000
Value of notes with customer	939,000					939,000		$ 3,472,000
Cost of revenue	14,639,000	18,002,000	$ 15,208,000	15,283,000	33,210,000	47,849,000	45,840,000
Product
Disaggregation Of Revenue [Line Items]
Revenue		0
Partially financed product sale		12,500,000
Cost of revenue		0
Payments received from customer						$ 3,800,000
Secured Promissory Note
Disaggregation Of Revenue [Line Items]
Value of notes with customer		$ 10,000,000			$ 10,000,000
Term of the notes		3 years
Monthly principal and interest payments		$ 300,000
Frequency of payments		monthly				monthly
Deferred Contract Liability
Disaggregation Of Revenue [Line Items]
Revenue	$ 0			$ 42,000		$ 0	$ 100,000

Revenue Recognition - Summary o

Revenue Recognition - Summary of Revenue from the Sale of Products and Performance of Services Under Contracts with Customers Excludes All Revenue Earned from Rental Contracts by Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019
Disaggregation Of Revenue [Line Items]
Total revenue	$ 6,975	$ 9,517	$ 9,083	$ 12,153	$ 18,600	$ 25,575	$ 34,457
Operating Segments
Disaggregation Of Revenue [Line Items]
Total revenue	6,975			12,153		25,575	34,457
Operating Segments | Oil and Gas Markets
Disaggregation Of Revenue [Line Items]
Total revenue	1,802			3,931		6,789	12,254
Operating Segments | Oil and Gas Markets | Traditional Exploration Product Revenue
Disaggregation Of Revenue [Line Items]
Total revenue	1,162			2,129		4,749	8,116
Operating Segments | Oil and Gas Markets | Wireless Exploration Product Revenue
Disaggregation Of Revenue [Line Items]
Total revenue	453			1,381		1,336	1,835
Operating Segments | Oil and Gas Markets | Reservoir Product Revenue
Disaggregation Of Revenue [Line Items]
Total revenue	187			421		704	2,303
Operating Segments | Adjacent Markets
Disaggregation Of Revenue [Line Items]
Total revenue	5,085			8,211		18,229	22,058
Operating Segments | Adjacent Markets | Industrial Product Revenue
Disaggregation Of Revenue [Line Items]
Total revenue	3,403			5,364		11,185	13,046
Operating Segments | Adjacent Markets | Imaging Product Revenue
Disaggregation Of Revenue [Line Items]
Total revenue	1,682			2,847		7,044	9,012
Operating Segments | Emerging Markets
Disaggregation Of Revenue [Line Items]
Total revenue	$ 88			$ 11		$ 557	$ 145

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Revenue from the Sale of Products and Services Under Contracts with Customers Excludes All Revenue Earned from Rental Contracts by Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019
Disaggregation Of Revenue [Line Items]
Total revenue	$ 6,975	$ 9,517	$ 9,083	$ 12,153	$ 18,600	$ 25,575	$ 34,457
Operating Segments
Disaggregation Of Revenue [Line Items]
Total revenue	6,975			12,153		25,575	34,457
Operating Segments | Asia
Disaggregation Of Revenue [Line Items]
Total revenue	925			1,094		2,200	4,162
Operating Segments | Canada
Disaggregation Of Revenue [Line Items]
Total revenue	509			1,202		1,776	1,832
Operating Segments | Europe
Disaggregation Of Revenue [Line Items]
Total revenue	1,193			1,023		3,865	3,108
Operating Segments | United States
Disaggregation Of Revenue [Line Items]
Total revenue	4,087			7,521		16,868	22,396
Operating Segments | Other
Disaggregation Of Revenue [Line Items]
Total revenue	$ 261			$ 1,313		$ 866	$ 2,959

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Details) - CAD ($) $ in Millions	9 Months Ended	12 Months Ended
	Jun. 30, 2020	Sep. 30, 2019
Canadian Dollar Forward Contract
Derivative [Line Items]
Foreign currency forward contract to hedge	$ 2	$ 7
Canadian Subsidiary
Derivative [Line Items]
Denominated intercompany accounts payable	$ 3.8	$ 9.3

Derivative Financial Instrume_4

Derivative Financial Instruments - Gross Fair Value of all Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Foreign Currency Forward Contracts | Accrued Expenses and Other Current Liabilities
Derivatives Fair Value [Line Items]
Derivatives Liabilities	$ 13	$ 4

Derivative Financial Instrume_5

Derivative Financial Instruments - Company's Derivatives on Consolidated Financial Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Foreign Currency Forward Contracts | Other Income (Expense)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amount of (Loss) Gain Recognized in Income	$ (89)	$ (142)	$ 176	$ 497

Fair Value of Company's Conting

Fair Value of Company's Contingent Earn-Out Liability and Foreign Currency Forward Contracts (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent Consideration	$ (11,574)	$ (9,940)
Total	(11,587)	(9,944)
Significant Other Observable (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	(13)	(4)
Significant Unobservable (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent Consideration	(11,574)	(9,940)
Total	(11,574)	(9,940)
Foreign Currency Forward Contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Foreign Currency Forward Contract	(13)	(4)
Foreign Currency Forward Contracts | Significant Other Observable (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Foreign Currency Forward Contract	$ (13)	$ (4)

Changes in Fair Value of Compan

Changes in Fair Value of Company Level 3 Financial Instruments (Details) - Nonrecurring - Significant Unobservable (Level 3) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Balance	$ 10,912	$ 9,940	$ 9,940
Fair value adjustments	662	972
Balance	$ 11,574	$ 10,912	$ 9,940

Trade Accounts Receivable and_3

Trade Accounts Receivable and Financing Receivables - Trade Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Current trade accounts receivable
Trade accounts receivable	$ 14,874	$ 25,144
Allowance for doubtful accounts	(1,189)	(951)
Total	$ 13,685	$ 24,193

Trade Accounts Receivable and_4

Trade Accounts Receivable and Financing Receivables - Summary of Allowance for Doubtful Accounts (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2020USD ($)
Receivables [Abstract]
Balance at October 1, 2019	$ 951
Bad debt expense, net of recoveries	406
Write-offs	(168)
Balance at June 30, 2020	$ 1,189

Trade Accounts Receivable and_5

Trade Accounts Receivable and Financing Receivables - Additional Information (Details) - USD ($)	May 26, 2020	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2020	Sep. 30, 2018	Sep. 30, 2019
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable		$ 14,874,000			$ 14,874,000				$ 25,144,000
Value of notes with customer		$ 939,000			$ 939,000				3,472,000
Promissory notes receivable maturity month and year					2023-01
Term of sales-type lease		3 years			3 years
Future minimum lease payments		$ 700,000			$ 700,000
Future minimum lease payments of unearned income		5,000			5,000
Interest income earned on lease		$ 10,000		$ 100,000	$ 38,000	$ 100,000
Manufactured Rental Equipment
Accounts Notes And Loans Receivable [Line Items]
Promissory notes receivable maximum interest rate		7.00%			7.00%
Product
Accounts Notes And Loans Receivable [Line Items]
Partially financed product sale			$ 12,500,000
Secured Promissory Note
Accounts Notes And Loans Receivable [Line Items]
Interest rate of the notes			7.00%
Frequency of payments			monthly		monthly
Value of notes with customer			$ 10,000,000
Term of the notes			3 years
Monthly principal and interest payments			$ 300,000
Marketable Debt Securities
Accounts Notes And Loans Receivable [Line Items]
Transition of unpaid invoices and late fee into debt securities	$ 13,000
Term of debt securities	24 months
Interest rate of the notes	8.00%
Frequency of payments					bi-annual interest and principal payments
Premium interest rate for paid in kind payments					10.00%
Maturity date of debt securities					Jul. 14, 2022
Scenario Forecast
Accounts Notes And Loans Receivable [Line Items]
Reversal of operating lease receivable and rental revenue							$ 8,000,000
Single Customer
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable		$ 14,000,000			$ 14,000,000
Unrecognized rental revenue and late payment penalties					5,700,000
Proceeds from contract customers					6,200,000
Revenue recognized		3,600,000
Received cash payment in excess								$ 24,000,000
Single Customer | Trade Accounts Receivable
Accounts Notes And Loans Receivable [Line Items]
Accounts receivable		$ 8,300,000			$ 8,300,000				$ 8,500,000

Trade Accounts Receivable and_6

Trade Accounts Receivable and Financing Receivables - Financing Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Accounts Notes And Loans Receivable [Line Items]
Total financing receivables	$ 939	$ 3,472
Total unearned income	(5)	(55)
Total financing receivables, net of unearned income	934	3,417
Less current portion	(934)	(3,233)
Non-current financing receivables		184
Promissory Notes
Accounts Notes And Loans Receivable [Line Items]
Total financing receivables	281	780
Sales Type Lease
Accounts Notes And Loans Receivable [Line Items]
Total financing receivables	658	2,692
Total unearned income	$ (5)	$ (55)

Inventories - Inventories (Deta

Inventories - Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Inventory Disclosure [Abstract]
Finished goods	$ 18,266		$ 17,967
Work in process	2,297		3,681
Raw materials	48,728		55,781
Obsolescence reserve	(34,179)		(32,050)
Total	35,112		45,379
Less current portion	(21,531)	$ (23,907)	(23,855)
Non-current portion	$ 13,581	$ 19,223	$ 21,524

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2020	Sep. 30, 2019
Inventory Disclosure [Abstract]
Raw materials included semi-finished goods and component parts	$ 22.8	$ 25.2

Leases - Additional Information

Leases - Additional Information (Details) - USD ($)	3 Months Ended				6 Months Ended	9 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019
Leases [Line Items]
Operating lease, right-of-use asset	$ 100,000					$ 100,000
Lessee operating lease, discount rate	5.00%					5.00%
Right-of-use asset, operating lease costs	$ 38,000					$ 100,000
Short-term lease costs	100,000					200,000
Rental revenue	15,728,000	$ 16,390,000	$ 8,622,000	$ 10,720,000	$ 25,012,000	40,740,000	$ 32,414,000
Future minimum lease payments to be received	7,200,000					7,200,000
Lease receivables from customers, net of reserves	$ 10,100,000					$ 10,100,000
Maximum
Leases [Line Items]
Lease term	6 months					6 months

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments Related to Operating Lease (Details) $ in Thousands	Jun. 30, 2020USD ($)
Leases [Abstract]
2020 (remainder)	$ 42
2021	84
Future minimum lease payments	126
Less interest	(3)
Present value of future minimum lease payments	$ 123

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information Related to Operating Lease (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2020USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liability	$ 123
Operating lease asset obtained in exchange for new lease liability	$ 219

Leases - Rental Equipment (Deta

Leases - Rental Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Leases [Abstract]
Rental equipment, primarily wireless recording equipment	$ 115,099		$ 107,645
Accumulated depreciation and impairment	(56,528)		(45,583)
Rental equipment, net	$ 58,571	$ 66,985	$ 62,062

Property Held for Sale - Additi

Property Held for Sale - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Discontinued Operations And Disposal Groups [Abstract]
Carrying value of property reclassified to property held for sale	$ 603	$ 691

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Goodwill And Other Intangible Assets [Line Items]
Goodwill	$ 5,008	$ 5,008	$ 5,008
Total other intangible assets	11,918		11,918
Accumulated amortization	(3,154)		(1,855)
Other intangible assets, net	$ 8,764	$ 9,630	10,063
Weighted-Average Remaining Useful Lives (in years)	9 years 3 months 18 days
Developed Technology
Goodwill And Other Intangible Assets [Line Items]
Total other intangible assets	$ 5,918		5,918
Weighted-Average Remaining Useful Lives (in years)	16 years 2 months 12 days
Customer Relationships
Goodwill And Other Intangible Assets [Line Items]
Total other intangible assets	$ 3,900		3,900
Weighted-Average Remaining Useful Lives (in years)	2 years 2 months 12 days
Trade Names
Goodwill And Other Intangible Assets [Line Items]
Total other intangible assets	$ 1,930		1,930
Weighted-Average Remaining Useful Lives (in years)	3 years 2 months 12 days
Non-compete Agreements
Goodwill And Other Intangible Assets [Line Items]
Total other intangible assets	$ 170		$ 170
Weighted-Average Remaining Useful Lives (in years)	2 years 2 months 12 days

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 400	$ 400	$ 1,299	$ 1,228

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Future Estimated Amortization Expense Of Other intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
2020 (remainder)	$ 433
2021	1,732
2022	1,624
2023	714
2024	342
Thereafter	3,919
Other intangible assets, net	$ 8,764	$ 9,630	$ 10,063

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Beginning Balance	$ 166,427	$ 170,722	$ 178,847	$ 172,953	$ 178,847	$ 176,587
Changes in unrealized gain on available-for-sale securities, net of tax				(1)		82
Foreign currency translation adjustments	(235)	(1,017)	566	157	(686)	177
Ending Balance	164,466	166,427	170,722	170,024	164,466	170,024
Accumulated Other Comprehensive Loss
Beginning Balance	(16,208)	(15,191)	(15,757)	(15,516)	(15,757)	(15,619)
Foreign currency translation adjustments	(235)	(1,017)	566
Ending Balance	$ (16,443)	$ (16,208)	$ (15,191)	$ (15,360)	$ (16,443)	$ (15,360)

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Nonqualified stock options unvested and outstanding	103,100
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share unvested and outstanding	264,375
Restricted Stock Units (RSUs) | 2014 Long Term Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued	162,250
Weighted average grant date fair value of the restricted stock | $ / shares	$ 14.58
Grant date fair value of restricted stock | $	$ 2.4
Restricted stock restriction period	4 years
Restricted stock units vesting rights	Each RSU represents a contingent right to receive one share of the Company’s common stock upon vesting.
Unrecognized compensation expense | $	$ 3.2
Expected period for recognition of unrecognized compensation expense	2 years 10 months 24 days
Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense | $	$ 1.2
Expected period for recognition of unrecognized compensation expense	1 year 4 months 24 days
Share unvested and outstanding	119,274

Loss Per Common Share - Calcula

Loss Per Common Share - Calculation of Net Loss and Weighted Average Common Shares and Common Equivalent Shares Outstanding for Computation of Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						6 Months Ended	9 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net loss	$ (2,285)	$ (3,811)	$ (9,282)	$ (3,672)	$ 707	$ (5,853)	$ (13,093)	$ (15,378)	$ (8,818)
Less: Loss allocable to unvested restricted stock				(12)
Loss attributable to common shareholders for diluted earnings per share	$ (2,285)			$ (3,684)				$ (15,378)	$ (8,818)
Weighted average number of common share equivalents:
Common shares used in basic loss per share	13,545,340			13,405,504				13,517,387	13,381,789
Total weighted average common shares and common share equivalents used in diluted loss per share	13,545,340			13,405,504				13,517,387	13,381,789
Loss per share:
Basic	$ (0.17)	$ (0.28)	$ (0.69)	$ (0.27)			$ (0.97)	$ (1.14)	$ (0.66)
Diluted	$ (0.17)	$ (0.28)	$ (0.69)	$ (0.27)			$ (0.97)	$ (1.14)	$ (0.66)

Loss Per Common Share - Additio

Loss Per Common Share - Additional Information (Details) - shares	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Number of stock excluded from calculation of weighted average shares outstanding	103,100	163,800	103,100	163,800
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Number of stock excluded from calculation of weighted average shares outstanding	264,375	161,300	264,375	161,300

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	Nov. 13, 2018	Jul. 27, 2018	Jun. 30, 2020	Mar. 31, 2020	Mar. 31, 2020	Jun. 30, 2020	Sep. 30, 2019	Apr. 30, 2020
Commitments And Contingencies [Line Items]
Contingent earn-out liability			$ 11,574,000			$ 11,574,000	$ 9,940,000
Adjustment to initial contingent earn-out liability			662,000	$ 972,000	$ 972,000	1,634,000
Future minimum lease obligations, remainder of fiscal year 2020			42,000			42,000
Office Space and Certain Equipment
Commitments And Contingencies [Line Items]
Future minimum lease obligations, remainder of fiscal year 2020			100,000			100,000
Future minimum lease obligations, fiscal year 2021			$ 100,000			$ 100,000
Maximum | Office Space and Certain Equipment
Commitments And Contingencies [Line Items]
Operating lease term			2 years			2 years
Quantum
Commitments And Contingencies [Line Items]
Contingent earn-out liability		$ 7,700,000
Contingent payments earn-out period		4 years
Contingent payments earn-out period ending month and year		2022-07
Contingent payments maximum earn-out amount		$ 23,500,000
Adjustment to initial contingent earn-out liability						$ 1,400,000	(2,900,000)
Estimated fair value of earn-out liability			$ 6,200,000			6,200,000	4,800,000
Quantum | U.S. Customs and Border Protection U.S. Border Patrol
Commitments And Contingencies [Line Items]
Awarded contract amount								$ 10,000,000
OptoSeis? Fiber Optic Sensing Technology Business
Commitments And Contingencies [Line Items]
Contingent earn-out liability	$ 4,300,000
Contingent payments earn-out period	5 years 6 months
Contingent payments earn-out period ending month and year	2024-05
Contingent payments maximum earn-out amount	$ 23,200,000
Adjustment to initial contingent earn-out liability						(300,000)	800,000
Estimated fair value of earn-out liability			$ 5,400,000			$ 5,400,000	$ 5,100,000

Segment Information - Additiona

Segment Information - Additional Information (Details)	9 Months Ended
	Jun. 30, 2020Segment
Segment Reporting [Abstract]
Number of operating segments	3

Segment Information - Summary o

Segment Information - Summary of Company's Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Revenue	$ 22,703	$ 25,907	$ 17,705	$ 22,873	$ 43,612	$ 66,315	$ 66,871
Income (loss) from operations	(2,564)	$ (3,489)	$ (7,823)	(3,335)	$ (11,312)	(13,876)	(8,376)
Operating Segments | Oil and Gas Markets
Segment Reporting Information [Line Items]
Revenue	17,509			14,449		47,452	44,122
Income (loss) from operations	1,496			(280)		(1,088)	451
Operating Segments | Adjacent Markets
Segment Reporting Information [Line Items]
Revenue	5,106			8,234		18,306	22,128
Income (loss) from operations	605			1,717		2,670	4,350
Operating Segments | Emerging Markets
Segment Reporting Information [Line Items]
Revenue	88			11		557	145
Income (loss) from operations	(1,170)			(1,388)		(5,035)	(3,760)
Corporate
Segment Reporting Information [Line Items]
Revenue				179			476
Income (loss) from operations	$ (3,495)			$ (3,384)		$ (10,423)	$ (9,417)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income tax expense	$ 573	$ 607	$ 1,420	$ 700	$ 2,027	$ 2,600	$ 1,257

Risks and Uncertainties - Addit

Risks and Uncertainties - Additional Information (Details) $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2020USD ($)Customer	Jun. 30, 2019USD ($)	Sep. 30, 2019USD ($)
Concentration Risk [Line Items]
Number of customers affiliated with common parent | Customer						3
Revenue	$ 22,703	$ 25,907	$ 17,705	$ 22,873	$ 43,612	$ 66,315	$ 66,871
Trade accounts receivables	13,685					13,685		$ 24,193
Sales Revenue | Customer Concentration Risk | Three Customers Affiliated with Common Parent
Concentration Risk [Line Items]
Revenue						34,900
Accounts Receivable | Credit Concentration Risk | Three Customers Affiliated with Common Parent
Concentration Risk [Line Items]
Trade accounts receivables	$ 10,400					$ 10,400

Revision - Impact of Correction

Revision - Impact of Correction of Errors on Unaudited Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018
Current assets:
Cash and cash equivalents	$ 26,669		$ 10,141	$ 18,925
Trade accounts and financing receivables, net	14,619		27,205	27,426
Inventories	21,531		23,907	23,855
Property held for sale	603		691
Prepaid expenses and other current assets	1,426		1,971	1,008
Total current assets	64,848		63,915	71,214
Non-current inventories	13,581		19,223	21,524
Rental equipment, net	58,571		66,985	62,062
Property, plant and equipment, net	30,511		31,615	31,474
Goodwill	5,008		5,008	5,008
Other intangible assets, net	8,764		9,630	10,063
Deferred cost of revenue and other assets	8,108		807	663
Total assets	189,391		197,183	202,008
Total liabilities	24,925		26,461	23,161
Stockholders’ equity:
Preferred stock, 1,000,000 shares authorized, no shares issued and outstanding
Common stock, $.01 par value, 20,000,000 shares authorized, 13,664,614 and 13,630,666 shares issued and outstanding	137		137	136
Additional paid-in capital	90,342		89,250	88,660
Retained earnings	90,430		96,526	105,808
Accumulated other comprehensive loss	(16,443)		(15,191)	(15,757)
Total stockholders’ equity	164,466	$ 166,427	170,722	178,847	$ 170,024	$ 172,953	$ 171,397	$ 176,587
Total liabilities and stockholders’ equity	$ 189,391		197,183	$ 202,008
As Reported
Current assets:
Cash and cash equivalents			10,141
Trade accounts and financing receivables, net			35,198
Inventories			23,907
Property held for sale			691
Prepaid expenses and other current assets			1,971
Total current assets			71,908
Non-current inventories			19,223
Rental equipment, net			66,985
Property, plant and equipment, net			31,615
Goodwill			5,008
Other intangible assets, net			9,630
Deferred cost of revenue and other assets			807
Total assets			205,176
Total liabilities			26,461
Stockholders’ equity:
Preferred stock, 1,000,000 shares authorized, no shares issued and outstanding
Common stock, $.01 par value, 20,000,000 shares authorized, 13,664,614 and 13,630,666 shares issued and outstanding			137
Additional paid-in capital			89,250
Retained earnings			104,519
Accumulated other comprehensive loss			(15,191)
Total stockholders’ equity			178,715
Total liabilities and stockholders’ equity			205,176
Adjustment
Current assets:
Trade accounts and financing receivables, net			(7,993)
Total current assets			(7,993)
Total assets			(7,993)
Stockholders’ equity:
Preferred stock, 1,000,000 shares authorized, no shares issued and outstanding
Retained earnings			(7,993)
Total stockholders’ equity			(7,993)
Total liabilities and stockholders’ equity			$ (7,993)

Revision - Impact of Correcti_2

Revision - Impact of Correction of Errors on Unaudited Consolidated Statement of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						6 Months Ended	9 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019
Revenue:
Products	$ 6,975	$ 9,517	$ 9,083	$ 12,153			$ 18,600	$ 25,575	$ 34,457
Revenue, Product and Service [Extensible List]	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember			us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember
Rental	$ 15,728	$ 16,390	$ 8,622	$ 10,720			$ 25,012	$ 40,740	$ 32,414
Total revenue	22,703	25,907	17,705	22,873			43,612	66,315	66,871
Cost of revenue	14,639	18,002	15,208	15,283			33,210	47,849	45,840
Gross profit	8,064	7,905	2,497	7,590			10,402	18,466	21,031
Operating expenses:
Selling, general and administrative	5,704	6,066		6,050			12,063	17,767	17,493
Research and development	4,014	4,225		4,246			8,521	12,535	11,315
Change in estimated fair value of contingent consideration	662	972					972	1,634
Bad debt expense	248	131		629			158	406	599
Total operating expenses	10,628	11,394	10,320	10,925			21,714	32,342	29,407
Loss from operations	(2,564)	(3,489)	(7,823)	(3,335)			(11,312)	(13,876)	(8,376)
Other income (expense), net	852	285	(39)	363			246	1,098	815
Loss before income taxes	(1,712)	(3,204)	(7,862)	(2,972)			(11,066)	(12,778)	(7,561)
Income tax expense	573	607	1,420	700			2,027	2,600	1,257
Net loss	$ (2,285)	$ (3,811)	$ (9,282)	$ (3,672)	$ 707	$ (5,853)	$ (13,093)	$ (15,378)	$ (8,818)
Loss per common share:
Basic	$ (0.17)	$ (0.28)	$ (0.69)	$ (0.27)			$ (0.97)	$ (1.14)	$ (0.66)
Diluted	$ (0.17)	$ (0.28)	$ (0.69)	$ (0.27)			$ (0.97)	$ (1.14)	$ (0.66)
As Reported
Revenue:
Products		$ 9,517	$ 9,083				$ 18,600
Revenue, Product and Service [Extensible List]		us-gaap:ProductMember	us-gaap:ProductMember				us-gaap:ProductMember
Rental		$ 16,390	$ 16,615				$ 33,005
Total revenue		25,907	25,698				51,605
Cost of revenue		18,002	15,208				33,210
Gross profit		7,905	10,490				18,395
Operating expenses:
Selling, general and administrative		6,066					12,063
Research and development		4,225					8,521
Change in estimated fair value of contingent consideration		972					972
Bad debt expense		8,124					8,151
Total operating expenses		19,387	10,320				29,707
Loss from operations		(11,482)	170				(11,312)
Other income (expense), net		285	(39)				246
Loss before income taxes		(11,197)	131				(11,066)
Income tax expense		607	1,420				2,027
Net loss		$ (11,804)	$ (1,289)				$ (13,093)
Loss per common share:
Basic		$ (0.87)	$ (0.10)				$ (0.97)
Diluted		$ (0.87)	$ (0.10)				$ (0.97)
Adjustment
Revenue:
Revenue, Product and Service [Extensible List]		us-gaap:ProductMember	us-gaap:ProductMember				us-gaap:ProductMember
Rental			$ (7,993)				$ (7,993)
Total revenue			(7,993)				(7,993)
Gross profit			(7,993)				(7,993)
Operating expenses:
Bad debt expense		$ (7,993)					(7,993)
Total operating expenses		(7,993)					$ (7,993)
Loss from operations		7,993	(7,993)
Loss before income taxes		7,993	(7,993)
Net loss		$ 7,993	$ (7,993)
Loss per common share:
Basic		$ 0.59	$ (0.59)
Diluted		$ 0.59	$ (0.59)

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ in Millions	1 Months Ended	3 Months Ended
	Jul. 31, 2020Employee	Sep. 30, 2020USD ($)
Scenario Forecast
Subsequent Event [Line Items]
Termination costs | $		$ 0.8
Subsequent Event
Subsequent Event [Line Items]
Number of employees reduced in cost reduction | Employee	100