Ion Geophysical (IOGPQ) 10-Q 12 Aug 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Aug. 09, 2021
Document Information [Line Items]
Entity Central Index Key	0000866609
Entity Registrant Name	ION GEOPHYSICAL CORP
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	1-12691
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-2286646
Entity Address, Address Line One	2105 CityWest Blvd. Suite 100
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77042-2855
City Area Code	281
Local Phone Number	933-3339
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	IO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		29,637,478

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 26,731	$ 37,486
Accounts receivable, net	10,531	8,045
Unbilled receivables	7,127	11,262
Inventories, net	10,783	11,267
Prepaid expenses and other current assets	7,243	7,116
Total current assets	62,415	75,176
Property, plant and equipment, net	8,131	9,511
Multi-client data library, net	55,145	50,914
Goodwill	19,898	19,565
Right-of-use assets	31,594	35,501
Other assets	2,079	2,926
Total assets	179,262	193,593
Current liabilities:
Current maturities of long-term debt	26,976	143,731
Accounts payable	24,971	33,418
Accrued expenses	20,151	16,363
Accrued multi-client data library royalties	20,341	21,359
Deferred revenue	1,840	3,648
Current maturities of operating lease liabilities	8,360	7,570
Total current liabilities	102,639	226,089
Long-term debt, net of current maturities	106,861	0
Operating lease liabilities, net of current maturities	34,289	38,372
Other long-term liabilities	202	222
Total liabilities	243,991	264,683
Deficit:
Common stock, $0.01 par value; authorized 100,000,000 shares; outstanding 28,577,886 and 14,333,101 shares at June 30, 2021 and December 31, 2020, respectively.	285	143
Additional paid-in capital	995,323	958,584
Accumulated deficit	(1,042,265)	(1,011,516)
Accumulated other comprehensive loss	(19,398)	(19,913)
Total stockholders’ deficit	(66,055)	(72,702)
Noncontrolling interests	1,326	1,612
Total deficit	(64,729)	(71,090)
Total liabilities and deficit	$ 179,262	$ 193,593

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares outstanding (in shares)	28,577,886	14,333,101

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021		Jun. 30, 2020		Jun. 30, 2021		Jun. 30, 2020
Net revenues	$ 19,714		$ 22,731		$ 33,750		$ 79,145
Impairment of multi-client data library	0		0		0		1,167
Gross profit	3,638		4,584		4,497		32,928
Operating expenses:
Research, development and engineering	3,382		3,036		6,329		7,044
Marketing and sales	3,179		1,219		5,938		6,077
General, administrative and other operating expenses	4,458		5,801		9,845		14,803
Impairment of goodwill	0		0		0		4,150
Total operating expenses	11,019		10,056		22,112		32,074
Income (loss) from operations	(7,381)		(5,472)		(17,615)		854
Interest expense, net	(3,299)		(3,414)		(6,561)		(6,635)
Other income (expense), net	(4,070)	[1]	6,771	[1]	(4,677)	[2]	7,200	[2]
Income (loss) before income taxes	(14,750)		(2,115)		(28,853)		1,419
Income tax expense	8,776		3,052		1,927		8,926
Net loss	(23,526)		(5,167)		(30,780)		(7,507)
Less: Net income (loss) attributable to noncontrolling interests	(60)		(52)		31		25
Net loss attributable to ION	$ (23,586)		$ (5,219)		$ (30,749)		$ (7,482)
Net loss per share:
Basic and Diluted (in dollars per share)	$ (0.90)		$ (0.37)		$ (1.47)		$ (0.53)
Weighted average number of common shares outstanding:
Basic and Diluted (in shares)	26,198		14,241		20,967		14,236
Service [Member]
Net revenues	$ 12,366		$ 15,547		$ 19,830		$ 63,032
Cost of services and products	11,223		13,267		20,493		35,542
Product [Member]
Net revenues	7,348		7,184		13,920		16,113
Cost of services and products	$ 4,853		$ 4,880		$ 8,760		$ 9,508
[1]	Includes loss on restructuring transactions of $4.7 million for the three and six months ended June 30, 2021 resulting from the exchange of the Company's Old Notes for New Notes.
[2]	Includes amortization of government relief funding of $6.9 million for the three and six months ended June 30, 2020.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net loss	$ (23,526)	$ (5,167)	$ (30,780)	$ (7,507)
Other comprehensive loss, net of taxes, as appropriate:
Foreign currency translation adjustments	177	(734)	515	(2,515)
Comprehensive net loss	(23,349)	(5,901)	(30,265)	(10,022)
Comprehensive (income) loss attributable to noncontrolling interests	(249)	(52)	(21)	25
Comprehensive net loss attributable to ION	$ (23,598)	$ (5,953)	$ (30,286)	$ (9,997)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net loss		$ (30,780)	$ (7,507)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization (other than multi-client library)		2,380	1,848
Amortization of multi-client data library		8,719	12,701
Impairment of multi-client data library		0	1,167
Impairment of goodwill		0	4,150
Stock-based compensation expense		779	1,094
Amortization of government relief funding		0	(6,923)
Provision for expected credit losses		498	0
Write-down of excess and obsolete inventory		0	0
Loss on restructuring transactions		4,696	0
Deferred income taxes		0	338
Change in operating assets and liabilities:
Accounts receivable		(2,955)	18,678
Unbilled receivables		4,151	(2,080)
Inventories		339	179
Accounts payable, accrued expenses and accrued royalties		(7,891)	(6,930)
Deferred revenue		(1,813)	(466)
Other assets and liabilities		2,569	102
Net cash provided by (used in) operating activities		(19,308)	16,351
Cash flows from investing activities:
Investment in multi-client data library		(12,643)	(14,596)
Purchase of property, plant and equipment		(767)	(697)
Net cash used in investing activities		(13,410)	(15,293)
Cash flows from financing activities:
Borrowings under revolving line of credit		0	27,000
Repayments under revolving line of credit		(2,750)	(4,500)
Proceeds from the rights offering	[1]	41,836	0
Payments on notes payable and long-term debt	[2]	(18,576)	(1,527)
Costs associated with debt issuance	[3]	(7,696)	0
Net proceeds from the registered direct offering		9,802	0
Receipt of Paycheck Protection Program loan		0	6,923
Other financing activities		(575)	5
Net cash provided by financing activities		22,041	27,901
Effect of change in foreign currency exchange rates on cash, cash equivalents and restricted cash		(78)	538
Net increase (decrease) in cash, cash equivalents and restricted cash		(10,755)	29,497
Cash, cash equivalents and restricted cash at beginning of period		39,813	33,118
Cash, cash equivalents and restricted cash at end of period (see Footnote 12)		$ 29,058	$ 62,615
[1]	Represents $30.1 million in New Notes and $11.7 million of ION common stock issued in connection with the Rights Offering described in the footnotes.
[2]	Consists primarily of $17.1 million payment for the Old Notes resulting from the Exchange Offer.
[3]	Represents transaction costs incurred in connection with the Restructuring Transactions.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Deficit (Unaudited) - USD ($) $ in Thousands	Restructuring Transactions [Member]Common Stock [Member]	Restructuring Transactions [Member]Additional Paid-in Capital [Member]	Restructuring Transactions [Member]Retained Earnings [Member]	Restructuring Transactions [Member]AOCI Attributable to Parent [Member]	Restructuring Transactions [Member]Noncontrolling Interest [Member]	Restructuring Transactions [Member]	Registered Direct Offering [Member]Common Stock [Member]	Registered Direct Offering [Member]Additional Paid-in Capital [Member]	Registered Direct Offering [Member]Retained Earnings [Member]	Registered Direct Offering [Member]AOCI Attributable to Parent [Member]	Registered Direct Offering [Member]Noncontrolling Interest [Member]	Registered Direct Offering [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2019													14,224,787
Balance at Dec. 31, 2019													$ 142	$ 956,647	$ (974,291)	$ (19,318)	$ 2,188	$ (34,632)
Net loss													0	0	(7,482)	0	(25)	(7,507)
Translation adjustment													0	0	0	(2,515)	(555)	(3,070)
Stock-based compensation expense													$ 0	1,094	0	0	0	1,094
Vesting of restricted stock units/awards (in shares)													17,089
Vesting of restricted stock units/awards													$ 0	0	0	0	0	0
Vested restricted stock cancelled for employee minimum income taxes (in shares)													(1,047)
Vested restricted stock cancelled for employee minimum income taxes													$ 0	(10)	0	0	0	(10)
Exercise of stock options (in shares)													5,000
Exercise of stock options													$ 0	15	0	0	0	15
Balance (in shares) at Jun. 30, 2020													14,245,829
Balance at Jun. 30, 2020													$ 142	957,746	(981,773)	(21,833)	1,608	(44,110)
Balance (in shares) at Mar. 31, 2020													14,240,126
Balance at Mar. 31, 2020													$ 142	957,254	(976,554)	(21,099)	1,654	(38,603)
Net loss													0	0	(5,219)	0	52	(5,167)
Translation adjustment													0	0	0	(734)	(98)	(832)
Stock-based compensation expense													$ 0	477	0	0	0	477
Vesting of restricted stock units/awards (in shares)													1,000
Vesting of restricted stock units/awards													$ 0	0	0	0	0	0
Vested restricted stock cancelled for employee minimum income taxes (in shares)													(297)
Vested restricted stock cancelled for employee minimum income taxes													$ 0	0	0	0	0	0
Exercise of stock options (in shares)													5,000
Exercise of stock options													$ 0	15	0	0	0	15
Balance (in shares) at Jun. 30, 2020													14,245,829
Balance at Jun. 30, 2020													$ 142	957,746	(981,773)	(21,833)	1,608	(44,110)
Balance (in shares) at Dec. 31, 2020													14,333,101
Balance at Dec. 31, 2020													$ 143	958,584	(1,011,516)	(19,913)	1,612	(71,090)
Net loss													0	0	(30,749)	0	(31)	(30,780)
Translation adjustment													0	0	0	515	52	567
Stock-based compensation expense													$ 0	780	0	0	0	780
Vesting of restricted stock units/awards (in shares)													473,204
Vesting of restricted stock units/awards													$ 5	(5)	0	0	0	0
Vested restricted stock cancelled for employee minimum income taxes (in shares)													(123,682)
Vested restricted stock cancelled for employee minimum income taxes													$ (2)	(266)	0	0	0	(268)
Stocks issued (in shares)	10,905,262						2,990,001
Stocks issued	$ 109	$ 26,458	$ 0	$ 0	$ 0	$ 26,567	$ 30	$ 9,772	$ 0	$ 0	$ 0	$ 9,802
Dividend payment to noncontrolling interest													$ 0	0	0	0	(307)	(307)
Balance (in shares) at Jun. 30, 2021													28,577,886
Balance at Jun. 30, 2021													$ 285	995,323	(1,042,265)	(19,398)	1,326	(64,729)
Balance (in shares) at Mar. 31, 2021													17,344,187
Balance at Mar. 31, 2021													$ 173	968,633	(1,018,679)	(19,575)	1,077	(68,371)
Net loss													0	0	(23,586)	0	60	(23,526)
Translation adjustment													0	0	0	177	189	366
Stock-based compensation expense													$ 0	494	0	0	0	494
Vesting of restricted stock units/awards (in shares)													448,839
Vesting of restricted stock units/awards													$ 4	(4)	0	0	0	0
Vested restricted stock cancelled for employee minimum income taxes (in shares)													(120,402)
Vested restricted stock cancelled for employee minimum income taxes													$ (1)	(258)	0	0	0	(259)
Stocks issued (in shares)	10,905,262
Stocks issued	$ 109	$ 26,458	$ 0	$ 0	$ 0	$ 26,567
Balance (in shares) at Jun. 30, 2021													28,577,886
Balance at Jun. 30, 2021													$ 285	$ 995,323	$ (1,042,265)	$ (19,398)	$ 1,326	$ (64,729)

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	( 1 Summary of Significant Accounting Policies Basis of Presentation The condensed consolidated balance sheet of ION Geophysical Corporation and its subsidiaries (collectively referred to as the “Company” or “ION,” unless the context otherwise requires) at December 31, 2020 June 30, 2021 three six June 30, 2021 2020 six June 30, 2021 2020 not The Company’s condensed consolidated financial statements reflect a non-redeemable noncontrolling interest in a majority-owned affiliate which is reported as a separate component of equity in “Noncontrolling interest” in the condensed consolidated balance sheets. Net (income) loss attributable to noncontrolling interest is stated separately in the condensed consolidated statements of operations. The activity for this noncontrolling interest relates to proprietary processing projects in Brazil. Certain reclassifications were made to previously reported amounts in the condensed consolidated financial statements and notes thereto; particularly, the presentation of revenue by geographic area to make previously reported amounts consistent with current period presentation. These condensed consolidated financial statements have been prepared using accounting principles generally accepted in the United States (“GAAP”) for interim financial information and the instructions to Form 10 X 10 December 31, 2020 Going Concern On April 20, 2021, four December 2025 second first 2021 second twelve The Company continually evaluates conditions in the capital markets and will continue to explore additional funding opportunities through private or public equity transactions, debt financing or other capital sources such as the sale of non-strategic assets to meet its ongoing cash needs. In addition, the Company is implementing a significant cost reduction program, building on the over $40 million eliminated last year, in an effort to right-size its business. These additional cost initiatives are targeting between $15 million to $20 million of annualized savings through a combination of both short-term and long-term reductions. In addition to maintaining the Company's ongoing cost discipline, it will continue to identify opportunities for government relief such as employee retention credits. For further details, refer to Footnote 5, Government Relief Funding If the Company is unable to raise additional funds through equity issuances, further debt financing arrangements, sales of assets or through other means of preserving cash through cost reduction initiatives, the Company's liquidity and operations would be significantly impacted. Old Notes Restructuring On April 20, 2021, 2025 March 10, 2021 As described in more detail in Footnote 4 "Long-term Debt", may may may In the Exchange Offer, approximately $113.5 million, or approximately 94.1%, of the $120.6 million outstanding Old Notes were accepted and exchanged for (i) $84.7 million aggregate principal amount of its New Notes, (ii) 6.1 million shares of Common Stock, including 1.5 million shares issued as the early participation payment and 4.6 million shares issued as stock consideration in lieu of the New Notes and (iii) $20.7 million paid in cash, including $3.6 million of accrued and unpaid interest that became due on the Old Notes as part of the exchange. The Company has accepted for exchange all such Old Notes validly tendered and not April 12, 2021. $35.0 In the concurrent Rights Offering, an aggregate amount of $41.8 million of rights (including over-subscription) was validly exercised by the holders of Common Stock, apportioned as $30.1 million in New Notes and $11.7 million in Common Stock allocated in 4.6 million shares. All over-subscription rights were exercised without proration as the $50.0 million limit on proceeds was not In total, $116.2 million in aggregate principal amount of New Notes and 10.9 million shares of Common Stock were issued. The Company received approximately $14 million in net proceeds from the transactions after deducting noteholder obligations, estimated transaction fees and accrued and unpaid interest paid on the Old Notes. After the Restructuring Transactions, $7.1 million of Old Notes remain outstanding and are due along with unpaid interest on December 15, 2021. The Restructuring Transactions resulted in amendment to the Old Notes Indenture (as defined in Footnote 4, "Long-term Debt") April 20, 2021. second 4 "Long-term Debt - Old Notes" COVID- 19 The COVID- 19 second 2020. 2020, 19 2020. 25%. second 2020. During 2021, $70 July 2021. 19 In January 2021, The Company expects continued portfolio rationalization and high grading as E&P companies seek to find the best return on investment opportunities to meet oil and gas demand in the next decade. Near-term, due to the impact of the COVID- 19 19 ION continues to work closely with its clients to understand their budgets and spending priorities and to scale its business appropriately. The Company partially mitigated the impact of the current macroeconomic environment by fully benefiting from the structural changes and associated cost reductions totaling approximately $40 million through salary cuts, reduced capital expenditures, renegotiation of the Company's leases and application for various government assistance programs, among others. In addition, the Company is implementing a further cost reduction program targeting between $15 $20 Significant Accounting Policies The Company’s significant accounting policies are disclosed in Footnote 1 “Summary of Significant Accounting Policies” 10 December 31, 2020 no six June 30, 2021 . Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates are made at discrete points in time based on relevant market information. These estimates may not Recent Accounting Pronouncement In August 2020, No. 2020 06, Debt — Debt with Conversion and Other Options (Subtopic 470 20 815 40 two three 470 202 470 20 815 153 815 404 December 15, 2021, December 15, 2023, December 15, 2020. January 1, 2021. Footnote 4, "Long-term Debt - New Notes"

Note 2 - Segment Information

Note 2 - Segment Information	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	( 2 Segment Information The Company evaluates and reviews its results of operations based on two 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations” The segments represent components of the Company for which separate financial information is available that is utilized on a regular basis by the Chief Operating Decision Maker in determining how to allocate resources and evaluate performance. The Company measures segment operating results based on income (loss) from operations. A summary of segment information follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net revenues: E&P Technology & Services: New Venture $ 3,882 $ 4,686 $ 4,969 $ 6,127 Data Library 5,393 6,867 7,877 46,998 Total multi-client revenues 9,275 11,553 12,846 53,125 Imaging and Reservoir Services 2,429 3,673 6,094 8,615 Total $ 11,704 $ 15,226 $ 18,940 $ 61,740 Operations Optimization: Optimization Software & Services $ 3,370 $ 3,377 $ 6,214 $ 7,804 Devices 4,640 4,128 8,596 9,601 Total $ 8,010 $ 7,505 $ 14,810 $ 17,405 Total net revenues $ 19,714 $ 22,731 $ 33,750 $ 79,145 Gross profit (loss): E&P Technology & Services $ 1,018 $ 2,264 $ (589 ) $ 25,994 (c) Operations Optimization 2,620 2,320 5,086 6,934 Total gross profit $ 3,638 $ 4,584 $ 4,497 $ 32,928 Gross margin: E&P Technology & Services 9 % 15 % (3 )% 42 % Operations Optimization 33 % 31 % 34 % 40 % Total gross margin 18 % 20 % 13 % 42 % Income (loss) from operations: E&P Technology & Services $ (2,691 ) $ 442 $ (7,544 ) $ 18,394 (c) Operations Optimization 244 (474 ) (576 ) (3,733 ) (d) Support and other (4,934 ) (5,440 ) (9,495 ) (13,807 ) Income (loss) from operations (7,381 ) (5,472 ) (17,615 ) 854 Interest expense, net (3,299 ) (3,414 ) (6,561 ) (6,635 ) Other income (expense), net (4,070 ) (a) 6,771 (b) (4,677 ) (a) 7,200 (b) Income (loss) before income taxes $ (14,750 ) $ (2,115 ) $ (28,853 ) $ 1,419 (a) Includes loss on restructuring transactions of $4.7 million for the three six June 30, 2021 (b) Includes amortization of government relief funding of $6.9 million for the three six June 30, 2020 (c) Includes impairment of multi-client data library of $1.2 million for the six June 30, 2020 (d) Includes impairment of goodwill of $4.2 million for the six June 30, 2020 Intersegment sales are insignificant for all periods presented.

Note 3 - Revenue from Contracts

Note 3 - Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	( 3 Revenue from Contracts with Customers The Company derives revenue from the (i) sale or license of multi-client and proprietary data, imaging and reservoir services within its E&P Technologies & Services segment; (ii) sale, license and repair of seismic data acquisition systems and other equipment; and (iii) sale or license of seismic command and control software systems and software solutions for operations management within its Operations Optimization segment. All E&P Technology & Services’ revenues and the services component of Optimization Software & Services’ revenues under Operations Optimization segment are classified as service revenues. All other revenues are classified as product revenues. The Company uses a five not one not one Revenue by Geographic Area The following table is a summary of net revenues by geographic area (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Europe $ 6,599 $ 4,684 $ 10,965 $ 12,156 Africa 6,479 4,117 8,251 16,358 Asia Pacific 3,437 2,631 5,638 10,393 Latin America 1,072 7,992 4,575 28,053 North America 934 2,204 2,141 6,092 Middle East 704 942 1,432 1,896 Other 489 161 748 4,197 Total $ 19,714 $ 22,731 $ 33,750 $ 79,145 Product revenues are allocated to geographic locations on the basis of the ultimate destination of the equipment, if known. If the ultimate destination of such equipment is not See Footnote 2 “Segment Information” three six June 30, 2021 2020 Unbilled Receivables Unbilled receivables balances relate to revenues recognized on multi-client surveys, imaging and reservoir services and devices equipment repairs on a proportionate basis, and on licensing of multi-client data for which invoices have not June 30, December 31, 2021 2020 New Venture $ 5,396 $ 9,158 Imaging and Reservoir Services 1,604 680 Devices 127 1,424 Total $ 7,127 $ 11,262 The changes in unbilled receivables are as follows (in thousands): Unbilled receivables at December 31, 2020 $ 11,262 Recognition of unbilled receivables (a) 30,111 Revenues billed to customers (a) (34,246 ) Unbilled receivables at June 30, 2021 $ 7,127 (a) Deferred Revenue Billing practices are governed by the terms of each contract based upon achievement of milestones or pre-agreed schedules. Billing does not not June 30, December 31, 2021 2020 New Venture $ 500 $ 2,169 Imaging and Reservoir Services 316 665 Optimization Software & Services 946 766 Devices 78 48 Total $ 1,840 $ 3,648 The changes in deferred revenues were as follows (in thousands): Deferred revenue at December 31, 2020 $ 3,648 Cash collected in excess of revenue recognized 1,831 Recognition of deferred revenue (3,639 ) Deferred revenue at June 30, 2021 $ 1,840 The Company expects to recognize a majority of deferred revenue within the next twelve Credit Risks For each of the six June 30, 2021 2020 one 10% At June 30, 2021 June 30, 2020 The Company routinely evaluates the financial stability and creditworthiness of its customers. The Company has a corporate credit policy that is intended to minimize the risk of financial loss due to a customer’s inability to pay. Credit coverage decisions for customers are based on references, payment histories, financial and other data. The Company utilizes a third not Concentration of Foreign Sales Risk The majority of the Company’s foreign sales are denominated in U.S. dollars. For the six June 30, 2021 2020

Note 4 - Long-term Debt

Note 4 - Long-term Debt	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Long-term Debt [Text Block]	( 4 Long-term Debt The following table is a summary of long-term debt (in thousands): June 30, December 31, 2021 2020 New notes (maturing December 15, 2025) $ 116,193 $ — Old notes (maturing December 15, 2021) 7,097 120,569 Revolving credit facility (maturing August 16, 2023) 19,750 22,500 Equipment finance leases (see Footnote 11) 129 734 Other debt — 905 Costs associated with issuances of debt (9,332 ) (977 ) Total 133,837 143,731 Current maturities of long-term debt (26,976 ) (143,731 ) Long-term debt, net of current maturities $ 106,861 $ — Old Notes The Old Notes were senior secured second April 20, 2021 1 "Summary of Significant Accounting Policies - Old Notes Restructuring" June 30, 2021 December 15, 2021. The April 2016 On April 20, 2021, April 28, 2016, second At June 30, 2021 New Notes The $116.2 million aggregate principal amount outstanding New Notes are governed by the Indenture (the "New Notes Indenture") dated as of April 20, 2021, Old Notes second December 15, 2025. June 15 December 15, June 15, 2021. one 1 "Summary of Significant Accounting Policies - Old Notes Restructuring." The New Notes are senior obligations of ION; secured on a second Revolving Credit Facility not Each guarantee of the New Notes are senior obligations of each Guarantor; secured on a second first The New Notes Indenture contains covenants that, among other things, limit the Company's ability, and the ability of ION's restricted subsidiaries, to incur additional debt or issue certain preferred stock; make certain investments or pay dividends or distributions on ION's capital stock, purchase or redeem or retire capital stock, or make other restricted payments; sell assets, including capital stock of ION's restricted subsidiaries; restrict dividends or other payments by restricted subsidiaries; create liens; create unrestricted subsidiaries; enter into transactions with affiliates; and merge or consolidate with another company. These covenants are subject to a number of important limitations and exceptions that are described in the New Notes Indenture. At June 30, 2021 Holders of New Notes may $1,000 may may 30 may may On or after the day that is the eighteen may third The New Notes will be redeemable, in whole or in part, at ION's option at any time prior to December 15, 2023, December 15, 2023, If a Change of Control (as described in the New Notes Indenture) occurs, holders of the New Notes may Upon certain asset sales, the Company may The Company issued one 50.1% Following a default or event of default under the New Notes Indenture, the Series A Preferred Stock will be entitled to vote with the Common Stock of the Company as a single class and having voting power equal to the number of shares of Common Stock issuable upon the conversion of the New Notes. In addition, at all times when the Common Stock is entitled to vote, the Series A Preferred Stock will be entitled to vote with the Common Stock as a single class and having voting powers equal to the number of shares of Common Stock issuable upon the conversion of the New Notes for any transaction (a) modifying, amending, supplementing, or waiving any provision of ION’s organizational documents or (b) entering into any merger, consolidation, sale of all or substantially all of ION’s assets, or other business combination transactions. The holder of the Series A Preferred Stock has the right to appoint two 2 June 2021. The one not not not not may On April 20, 2021, first first second second The Intercreditor Agreement superseded and replaced the second April 28, 2016, first first first second second third third third Derivative Liabilities Associated with the New Notes On April 20, 2021, not zero Loss on Extinguishment of Old Notes As discussed in more detail in Footnote 1 "Summary of Significant Accounting Policies - Old Notes Restructuring" April 20, 2021, In accordance with ASC Topic No. 470, Debt Modifications and Extinguishments 470 $4.7 Revolving Credit Facility On April 20, 2021, August 22, 2014 ( August 4, 2015, April 28, 2016 August 16, 2018, The maximum interest rate in the Credit Facility is 3% per annum for domestic rate loans and 4% per annum for LIBOR rate loans with a minimum interest rate of 2% for domestic rate loans and 3% for LIBOR rate loans based on a leverage ratio for the preceding four August 16, 2023. five The maximum amount available under the Credit Facility is the lesser of $50.0 million or a monthly borrowing base. The borrowing base under the Credit Facility will increase or decrease monthly using a formula based on certain eligible receivables, eligible inventory and other amounts, including a percentage of the net orderly liquidation value of the Borrowers’ multi-client data library ( not June 30, 2021 ty and the undrawn remaining borrowing base capacity was million. To maintain the minimum excess borrowing availability threshold of $6.25 million (as described further above and below), the Company repaid $0.4 million of the outstanding indebtedness under the Credit Facility in July 2021 . The obligations of Borrowers under the Credit Facility are secured by a first first The Credit Facility contains covenants that, among other things, limit or prohibit the Borrowers, subject to certain exceptions and qualifications, from incurring additional indebtedness in excess of permitted indebtedness (including finance lease obligations), repurchasing equity, paying dividends or distributions, granting or incurring additional liens on the Borrowers’ properties, pledging shares of the Borrowers’ subsidiaries, entering into certain merger transactions, entering into transactions with the Company’s affiliates, making certain sales or other dispositions of the Borrowers’ assets, making certain investments, acquiring other businesses and entering into sale-leaseback transactions with respect to the Borrowers’ property. The Credit Facility contains customary event of default provisions (including a “change of control” event affecting ION Geophysical Corporation), the occurrence of which could lead to an acceleration of the Company's obligations under the Credit Facility. The Credit Facility requires that the Borrowers maintain a minimum fixed charge coverage ratio of 1.1 to 1.0 two five At June 30, 2021 A summary of future principal obligations under long-term debt and equipment capital lease obligations follows (in thousands): Years Ending June 30, Notes Other Financing (1) Total 2022 $ 7,097 $ 19,879 $ 26,976 2023 — — — 2024 — — — 2025 — — — Thereafter 116,193 — 116,193 Total $ 123,290 $ 19,879 $ 143,169 ( 1 August 16, 2023.

Note 5 - Government Relief Fund

Note 5 - Government Relief Funding	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Short-term Debt [Text Block]	( 5 Government Relief Funding Paycheck Protection Program On April 11, 2020, two June 16, 2021, The Company recognized the Note of $6.9 million as a deferred income liability during 2020 six June 30, 2020, April 2020 June 2020. Employee Retention Credit The Taxpayer Certainty and Disaster Tax Relief Act of 2020, December 27, 2020, December 31, 2021. 70% December 31, 2020 December 31, 2021. of $3.2 six June 30, 2021 , $1.6 million of which has been received during the second 2021 third 2021. second 2021 fourth 2021 first 2022 .

Note 6 - Net Loss Per Common Sh

Note 6 - Net Loss Per Common Share	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	( 6 Net Loss per Common Share Basic net loss per share is computed by dividing net loss attributable to ION by the weighted average number of common shares outstanding during the period. In computing diluted net income per share, basic net income per share is adjusted based on the assumption that dilutive restricted stock and restricted stock unit awards have vested and outstanding dilutive stock options have been exercised and the aggregate proceeds were used to reacquire common stock using the average price of such common stock for the period. The total number of shares issuable pursuant to outstanding stock options at June 30, 2021 2020 June 30, 2021 2020

Note 7 - Income Taxes

Note 7 - Income Taxes	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 7 Income Taxes The Company maintains a valuation allowance for substantially all of its deferred tax assets. A valuation allowance is established or maintained when it is “more likely than not” not not not twelve June 30, 2021, The tax provision for the six June 30, 2021 three six June 30, 2021 2020 six June 30, 2021 2020 six June 30, 2020 In response to the global pandemic related to COVID- 19, March 27, 2020. 163 six June 30, 2021 2020 no 19 At June 30, 2021 not twelve At June 30, 2021 2017 2016

Note 8 - Litigation

Note 8 - Litigation	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	( 8 Litigation In July 2018, December 9, 2019, March 2020 $4.5 2020 19 not 19 September 1, 2021. not August 12, 2021. The Company has been named in various other lawsuits or threatened actions that are incidental to its ordinary business. Litigation is inherently unpredictable. Any claims against the Company, whether meritorious or not, not

Note 9 - Details of Selected Ba

Note 9 - Details of Selected Balance Sheet Accounts	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Supplemental Balance Sheet Disclosures [Text Block]	( 9 Details of Selected Balance Sheet Accounts Accounts Receivable A summary of accounts receivable follows (in thousands): June 30, December 31, 2021 2020 Accounts receivable, principally trade $ 11,778 $ 10,458 Less: allowance for expected credit losses (1,247 ) (2,413 ) Accounts receivable, net $ 10,531 $ 8,045 Inventories A summary of inventories follows (in thousands): June 30, December 31, 2021 2020 Raw materials and purchased subassemblies $ 17,807 $ 18,638 Work-in-process 1,841 1,218 Finished goods 3,977 4,417 Less: reserve for excess and obsolete inventories (12,842 ) (13,006 ) Inventories, net $ 10,783 $ 11,267 The Company's inventories relate to its Operations Optimization segment. No six June 30, 2021 2020 Property, Plant and Equipment June 30, December 31, 2021 2020 Buildings $ 15,690 $ 15,675 Machinery and equipment 122,170 120,949 Seismic rental equipment 2,200 2,003 Furniture and fixtures 3,180 3,172 Other (a) 29,808 30,287 Total 173,048 172,086 Less: accumulated depreciation (128,364 ) (126,022 ) Less: impairment of long-lived assets (36,553 ) (36,553 ) Property, plant, equipment and seismic rental equipment, net $ 8,131 $ 9,511 (a) Total depreciation expense, including amortization of assets recorded under equipment finance leases, for the six June 30, 2021 2020 No six June 30, 2021 2020 Multi-client Data Library June 30, December 31, 2021 2020 Gross costs of multi-client data creation $ 1,034,708 $ 1,021,758 Less: accumulated amortization (847,419 ) (838,700 ) Less: impairments to multi-client data library (132,144 ) (132,144 ) Multi-client data library, net $ 55,145 $ 50,914 Total amortization expense for the six June 30, 2021 2020 2D six June 30, 2021 2020 zero Goodwill E&P Technology & Services Optimization Software & Services Total Balance at January 1, 2020 $ 2,943 $ 20,642 $ 23,585 Impairment of goodwill — (4,150 ) (4,150 ) Impact of foreign currency translation adjustments — 130 130 Balance at December 31, 2020 2,943 16,622 19,565 Impact of foreign currency translation adjustments — 333 333 Balance at June 30, 2021 $ 2,943 $ 16,955 $ 19,898 The Company, following the qualitative consideration, assessed the relevant events and circumstances in evaluating whether it is more likely than not first 2020, 19 March 31, 2020 not The Company, following the quantitative consideration, compared the fair value of each reporting unit against its carrying value. If the carrying value of the reporting unit exceeds the fair value, an impairment loss shall be recognized in an amount equal to that excess. The fair value of each reporting unit at March 31, 2020 may As a result of this assessment, the Company recorded an impairment charge of $4.2 million for the six June 30, 2020 six June 30, 2021 six June 30, 2021 2020

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity and Stock-based Compensation	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	( 10 Stockholders' Equity and Stock-based Compensation Registered Direct Offering On February 16, 2021, The Registered Direct Offering was made pursuant to a Registration Statement ( No. 333 234606 3, November 8, 2019, December 19, 2019, December 23, 2019. Stock-Based Compensation The total number of shares issued or reserved for future issuance under outstanding stock options at June 30, 2021 2020 June 30, 2021 2020 June 30, 2021 2020 six June 30, 2021 Restricted Stock Stock Appreciation Stock Options and Units Awards Rights Outstanding at January 1, 2021 533,320 732,707 754,582 Increase in shares authorized — 23,533 — Granted — 966,000 — Stock options and SARs exercised/restricted stock and unit awards vested — (473,204 ) (5,000 ) Cancelled/forfeited (125,353 ) (66,944 ) (86,991 ) Outstanding at June 30, 2021 407,967 1,182,092 662,591 Stock-based compensation expense recognized for the six June 30, 2021 2020 six June 30, 2021 2020 zero SARs awards are considered liability awards as they are ultimately settled in cash. As such, these amounts are incrementally accrued in the liability section of the condensed consolidated balance sheets over the service period. All of the Company’s currently outstanding SARs awards achieve vesting through both a market condition and a service condition. SARs awards that are fully vested under both conditions are measured at intrinsic value (i.e. the difference between the market price on the last day of the quarter and the strike price of the awards times the number of awards vested and outstanding) and marked to market each quarter until settled. SARs awards that are not June 30, 2021 December 31, 2020 Risk-free interest rates 0.7 % Expected lives (in years) 5.31 Expected dividend yield — % Expected volatility 94.7 % At-The-Market Equity Offering Program On April 26, 2021, may Public Equity Offering In July 2021, 1 may 1 not

Note 11 - Lease Obligations

Note 11 - Lease Obligations	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Lessee, Finance and Operating Leases [Text Block]	( 11 Lease Obligations The Company leases offices, processing centers, warehouse spaces and, to a lesser extent, certain equipment. These leases have remaining terms of 1 year to 10 years, some of which have options to extend for up to 10 years and/or options to terminate within 1 year. The options to renew are not not In January 2020, September 30, 2023 June 30, 2029 July 2020, October 2023 February 2024 July 2020 March 2021. In May 2020, three December 2025. Total operating lease expense, including short-term lease expense was $4.7 million and $5.3 million for the six June 30, 2021 2020 Equipment Finance Leases The Company has entered into equipment finance leases that are due in installments for the purpose of financing the purchase of computer equipment through August 2021.

Note 12 - Supplemental Cash Flo

Note 12 - Supplemental Cash Flow Information and Non-cash Activity	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	( 12 Supplemental Cash Flow Information and Non-Cash Activity Supplemental disclosure of cash flow information follows (in thousands): Six Months Ended June 30, 2021 2020 Cash paid during the period for: Interest $ 5,884 $ 6,048 Income taxes 1,824 5,448 Non-cash items from investing and financing activities: Exchange of Old Notes for ION common stock 11,755 — Restructuring transaction costs in accounts payable 902 — The following table is a reconciliation of cash, cash equivalents, and restricted cash to the condensed consolidated balance sheets: June 30, 2021 2020 (In thousands) Cash and cash equivalents $ 26,731 $ 62,540 Restricted cash included in prepaid expenses and other current assets 2,327 (d) 75 Total cash, cash equivalents, and restricted cash shown in consolidated statements of cash flows $ 29,058 $ 62,615 (a) third 2020,

Note 13 - Fair Value of Financi

Note 13 - Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 13 Fair Value of Financial Instruments Authoritative guidance on fair value measurements defines fair value, establishes a framework for measuring fair value and stipulates the related disclosure requirements. The Company follows a three three Level 1—Quoted Level 2—Other Level 3—Significant no Due to their highly liquid nature, the amount of the Company’s other financial instruments, including cash and cash equivalents, restricted cash, accounts and unbilled receivables, accounts payable and accrued multi-client data library royalties, represent their approximate fair value. The carrying amounts of the Company’s Old Notes at June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 June 30, 2021 June 30, 2021 1 2, 2 3. 2 The carrying amount of any borrowings outstanding under the Credit Facility approximate fair value, as the interest rate is variable and reflective of market rates. Fair value measurements are applied with respect to non-financial assets and liabilities on a non-recurring basis (e.g. when possible indicators of impairment exist), which would consist of measurements of goodwill, multi-client data library and property, plant and equipment. The fair value of these assets is determined based on valuation techniques using the best information available and may

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The condensed consolidated balance sheet of ION Geophysical Corporation and its subsidiaries (collectively referred to as the “Company” or “ION,” unless the context otherwise requires) at December 31, 2020 June 30, 2021 three six June 30, 2021 2020 six June 30, 2021 2020 not The Company’s condensed consolidated financial statements reflect a non-redeemable noncontrolling interest in a majority-owned affiliate which is reported as a separate component of equity in “Noncontrolling interest” in the condensed consolidated balance sheets. Net (income) loss attributable to noncontrolling interest is stated separately in the condensed consolidated statements of operations. The activity for this noncontrolling interest relates to proprietary processing projects in Brazil. Certain reclassifications were made to previously reported amounts in the condensed consolidated financial statements and notes thereto; particularly, the presentation of revenue by geographic area to make previously reported amounts consistent with current period presentation. These condensed consolidated financial statements have been prepared using accounting principles generally accepted in the United States (“GAAP”) for interim financial information and the instructions to Form 10 X 10 December 31, 2020
Going Concern [Policy Text Block]	Going Concern On April 20, 2021, four December 2025 second first 2021 second twelve The Company continually evaluates conditions in the capital markets and will continue to explore additional funding opportunities through private or public equity transactions, debt financing or other capital sources such as the sale of non-strategic assets to meet its ongoing cash needs. In addition, the Company is implementing a significant cost reduction program, building on the over $40 million eliminated last year, in an effort to right-size its business. These additional cost initiatives are targeting between $15 million to $20 million of annualized savings through a combination of both short-term and long-term reductions. In addition to maintaining the Company's ongoing cost discipline, it will continue to identify opportunities for government relief such as employee retention credits. For further details, refer to Footnote 5, Government Relief Funding If the Company is unable to raise additional funds through equity issuances, further debt financing arrangements, sales of assets or through other means of preserving cash through cost reduction initiatives, the Company's liquidity and operations would be significantly impacted.
Debt, Policy [Policy Text Block]	Old Notes Restructuring On April 20, 2021, 2025 March 10, 2021 As described in more detail in Footnote 4 "Long-term Debt", may may may In the Exchange Offer, approximately $113.5 million, or approximately 94.1%, of the $120.6 million outstanding Old Notes were accepted and exchanged for (i) $84.7 million aggregate principal amount of its New Notes, (ii) 6.1 million shares of Common Stock, including 1.5 million shares issued as the early participation payment and 4.6 million shares issued as stock consideration in lieu of the New Notes and (iii) $20.7 million paid in cash, including $3.6 million of accrued and unpaid interest that became due on the Old Notes as part of the exchange. The Company has accepted for exchange all such Old Notes validly tendered and not April 12, 2021. $35.0 In the concurrent Rights Offering, an aggregate amount of $41.8 million of rights (including over-subscription) was validly exercised by the holders of Common Stock, apportioned as $30.1 million in New Notes and $11.7 million in Common Stock allocated in 4.6 million shares. All over-subscription rights were exercised without proration as the $50.0 million limit on proceeds was not In total, $116.2 million in aggregate principal amount of New Notes and 10.9 million shares of Common Stock were issued. The Company received approximately $14 million in net proceeds from the transactions after deducting noteholder obligations, estimated transaction fees and accrued and unpaid interest paid on the Old Notes. After the Restructuring Transactions, $7.1 million of Old Notes remain outstanding and are due along with unpaid interest on December 15, 2021. The Restructuring Transactions resulted in amendment to the Old Notes Indenture (as defined in Footnote 4, "Long-term Debt") April 20, 2021. second 4 "Long-term Debt - Old Notes"
COVID-19 Pandemic [Policy Text Block]	COVID- 19 The COVID- 19 second 2020. 2020, 19 2020. 25%. second 2020. During 2021, $70 July 2021. 19 In January 2021, The Company expects continued portfolio rationalization and high grading as E&P companies seek to find the best return on investment opportunities to meet oil and gas demand in the next decade. Near-term, due to the impact of the COVID- 19 19 ION continues to work closely with its clients to understand their budgets and spending priorities and to scale its business appropriately. The Company partially mitigated the impact of the current macroeconomic environment by fully benefiting from the structural changes and associated cost reductions totaling approximately $40 million through salary cuts, reduced capital expenditures, renegotiation of the Company's leases and application for various government assistance programs, among others. In addition, the Company is implementing a further cost reduction program targeting between $15 $20
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates are made at discrete points in time based on relevant market information. These estimates may not
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncement In August 2020, No. 2020 06, Debt — Debt with Conversion and Other Options (Subtopic 470 20 815 40 two three 470 202 470 20 815 153 815 404 December 15, 2021, December 15, 2023, December 15, 2020. January 1, 2021. Footnote 4, "Long-term Debt - New Notes"

Note 2 - Segment Information (T

Note 2 - Segment Information (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net revenues: E&P Technology & Services: New Venture $ 3,882 $ 4,686 $ 4,969 $ 6,127 Data Library 5,393 6,867 7,877 46,998 Total multi-client revenues 9,275 11,553 12,846 53,125 Imaging and Reservoir Services 2,429 3,673 6,094 8,615 Total $ 11,704 $ 15,226 $ 18,940 $ 61,740 Operations Optimization: Optimization Software & Services $ 3,370 $ 3,377 $ 6,214 $ 7,804 Devices 4,640 4,128 8,596 9,601 Total $ 8,010 $ 7,505 $ 14,810 $ 17,405 Total net revenues $ 19,714 $ 22,731 $ 33,750 $ 79,145 Gross profit (loss): E&P Technology & Services $ 1,018 $ 2,264 $ (589 ) $ 25,994 (c) Operations Optimization 2,620 2,320 5,086 6,934 Total gross profit $ 3,638 $ 4,584 $ 4,497 $ 32,928 Gross margin: E&P Technology & Services 9 % 15 % (3 )% 42 % Operations Optimization 33 % 31 % 34 % 40 % Total gross margin 18 % 20 % 13 % 42 % Income (loss) from operations: E&P Technology & Services $ (2,691 ) $ 442 $ (7,544 ) $ 18,394 (c) Operations Optimization 244 (474 ) (576 ) (3,733 ) (d) Support and other (4,934 ) (5,440 ) (9,495 ) (13,807 ) Income (loss) from operations (7,381 ) (5,472 ) (17,615 ) 854 Interest expense, net (3,299 ) (3,414 ) (6,561 ) (6,635 ) Other income (expense), net (4,070 ) (a) 6,771 (b) (4,677 ) (a) 7,200 (b) Income (loss) before income taxes $ (14,750 ) $ (2,115 ) $ (28,853 ) $ 1,419

Note 3 - Revenue from Contrac_2

Note 3 - Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Europe $ 6,599 $ 4,684 $ 10,965 $ 12,156 Africa 6,479 4,117 8,251 16,358 Asia Pacific 3,437 2,631 5,638 10,393 Latin America 1,072 7,992 4,575 28,053 North America 934 2,204 2,141 6,092 Middle East 704 942 1,432 1,896 Other 489 161 748 4,197 Total $ 19,714 $ 22,731 $ 33,750 $ 79,145
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	June 30, December 31, 2021 2020 New Venture $ 5,396 $ 9,158 Imaging and Reservoir Services 1,604 680 Devices 127 1,424 Total $ 7,127 $ 11,262 Unbilled receivables at December 31, 2020 $ 11,262 Recognition of unbilled receivables (a) 30,111 Revenues billed to customers (a) (34,246 ) Unbilled receivables at June 30, 2021 $ 7,127 June 30, December 31, 2021 2020 New Venture $ 500 $ 2,169 Imaging and Reservoir Services 316 665 Optimization Software & Services 946 766 Devices 78 48 Total $ 1,840 $ 3,648 Deferred revenue at December 31, 2020 $ 3,648 Cash collected in excess of revenue recognized 1,831 Recognition of deferred revenue (3,639 ) Deferred revenue at June 30, 2021 $ 1,840

Note 4 - Long-term Debt (Tables

Note 4 - Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Debt [Table Text Block]	June 30, December 31, 2021 2020 New notes (maturing December 15, 2025) $ 116,193 $ — Old notes (maturing December 15, 2021) 7,097 120,569 Revolving credit facility (maturing August 16, 2023) 19,750 22,500 Equipment finance leases (see Footnote 11) 129 734 Other debt — 905 Costs associated with issuances of debt (9,332 ) (977 ) Total 133,837 143,731 Current maturities of long-term debt (26,976 ) (143,731 ) Long-term debt, net of current maturities $ 106,861 $ —
Schedule of Maturities of Long-term Debt and Capital Lease Obligations [Table Text Block]	Years Ending June 30, Notes Other Financing (1) Total 2022 $ 7,097 $ 19,879 $ 26,976 2023 — — — 2024 — — — 2025 — — — Thereafter 116,193 — 116,193 Total $ 123,290 $ 19,879 $ 143,169

Note 9 - Details of Selected _2

Note 9 - Details of Selected Balance Sheet Accounts (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	June 30, December 31, 2021 2020 Accounts receivable, principally trade $ 11,778 $ 10,458 Less: allowance for expected credit losses (1,247 ) (2,413 ) Accounts receivable, net $ 10,531 $ 8,045
Schedule of Inventory, Current [Table Text Block]	June 30, December 31, 2021 2020 Raw materials and purchased subassemblies $ 17,807 $ 18,638 Work-in-process 1,841 1,218 Finished goods 3,977 4,417 Less: reserve for excess and obsolete inventories (12,842 ) (13,006 ) Inventories, net $ 10,783 $ 11,267
Property, Plant and Equipment [Table Text Block]	June 30, December 31, 2021 2020 Buildings $ 15,690 $ 15,675 Machinery and equipment 122,170 120,949 Seismic rental equipment 2,200 2,003 Furniture and fixtures 3,180 3,172 Other (a) 29,808 30,287 Total 173,048 172,086 Less: accumulated depreciation (128,364 ) (126,022 ) Less: impairment of long-lived assets (36,553 ) (36,553 ) Property, plant, equipment and seismic rental equipment, net $ 8,131 $ 9,511
Schedule of Multi-client Data Library [Table Text Block]	June 30, December 31, 2021 2020 Gross costs of multi-client data creation $ 1,034,708 $ 1,021,758 Less: accumulated amortization (847,419 ) (838,700 ) Less: impairments to multi-client data library (132,144 ) (132,144 ) Multi-client data library, net $ 55,145 $ 50,914
Schedule of Goodwill [Table Text Block]	E&P Technology & Services Optimization Software & Services Total Balance at January 1, 2020 $ 2,943 $ 20,642 $ 23,585 Impairment of goodwill — (4,150 ) (4,150 ) Impact of foreign currency translation adjustments — 130 130 Balance at December 31, 2020 2,943 16,622 19,565 Impact of foreign currency translation adjustments — 333 333 Balance at June 30, 2021 $ 2,943 $ 16,955 $ 19,898

Note 10 - Stockholders' Equit_2

Note 10 - Stockholders' Equity and Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Restricted Stock Stock Appreciation Stock Options and Units Awards Rights Outstanding at January 1, 2021 533,320 732,707 754,582 Increase in shares authorized — 23,533 — Granted — 966,000 — Stock options and SARs exercised/restricted stock and unit awards vested — (473,204 ) (5,000 ) Cancelled/forfeited (125,353 ) (66,944 ) (86,991 ) Outstanding at June 30, 2021 407,967 1,182,092 662,591
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Risk-free interest rates 0.7 % Expected lives (in years) 5.31 Expected dividend yield — % Expected volatility 94.7 %

Note 12 - Supplemental Cash F_2

Note 12 - Supplemental Cash Flow Information and Non-cash Activity (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Six Months Ended June 30, 2021 2020 Cash paid during the period for: Interest $ 5,884 $ 6,048 Income taxes 1,824 5,448 Non-cash items from investing and financing activities: Exchange of Old Notes for ION common stock 11,755 — Restructuring transaction costs in accounts payable 902 —
Schedule of Cash and Cash Equivalents [Table Text Block]	June 30, 2021 2020 (In thousands) Cash and cash equivalents $ 26,731 $ 62,540 Restricted cash included in prepaid expenses and other current assets 2,327 (d) 75 Total cash, cash equivalents, and restricted cash shown in consolidated statements of cash flows $ 29,058 $ 62,615

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Details Textual)	Apr. 20, 2021USD ($)$ / sharesshares	Jun. 30, 2021USD ($)$ / shares	Jun. 30, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)$ / shares	Dec. 30, 2020USD ($)
Restructuring Plan, Cost Eliminated					$ 40,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares	$ 0.01	$ 0.01			$ 0.01
Debt Conversion, Converted Instrument, Amount		$ 11,755,000	$ 0
Stock Issued During Period, Shares, New Issues (in shares) | shares	10,900,000
Proceeds from Restructuring Transactions	$ 14,000,000
Long-term Debt, Total		$ 133,837,000			$ 143,731,000
Loss Contingency, Decrease in Expense From Scaling Down Operations						$ 40,000,000
Exchange Offer [Member]
Debt Conversion, Original Debt, Amount	113,500,000
Debt Conversion, Converted Instrument, Amount	$ 84,700,000
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares	6,100,000
Exchange Offer, Early Participation [Member]
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares	1,500,000
Exchange Offer, Stock in Lieu of Notes [Member]
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares	4,600,000
Rights Offering [Member]
Rights Offering, Common Stock Amount Per Right (in shares) | shares	1.08
Shares Issued, Price Per Share (in dollars per share) | $ / shares	$ 2.57
Rights Offering, Value of Rights Issued	$ 41,800,000
Stock Issued During Period, Value, New Issues	$ 11,700,000
Stock Issued During Period, Shares, New Issues (in shares) | shares	4,600,000
Rights Offering, Maximum Offering Without Proration	$ 50,000,000
Rights Offering [Member] | Backstop Parties [Member]
Stock Issued During Period, Value, New Issues	$ 200,000
Debt Instrument, Maximum Backstop Fee Percent of the Backstop Commitment Amount	5.00%
INOVA Geophysical Equipment Limited [Member]
Equity Method Investment, Ownership Percentage		49.00%
Forecast [Member] | Minimum [Member]
Restructuring Plan, Cost Eliminated				$ 15,000,000
Forecast [Member] | Maximum [Member]
Restructuring Plan, Cost Eliminated				$ 20,000,000
Second Lien Notes [Member] | Senior Notes [Member]
Debt Instrument, Term (Year)	4 years
Debt Instrument, Percent of Note Holders Supporting Restructuring	94.10%
Long-term Debt, Gross	$ 120,600,000	$ 116,193,000			0
Repayments of Long-term Debt, Total	20,700,000
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total	$ 3,600,000
Debt Instrument, Repurchase Offer, Percentage of Proceeds in Excess of 35 Million	50.00%
Debt Instrument, Repurchase Offer, Value	$ 3,400,000
Long-term Debt, Total	$ 7,100,000	7,100,000			120,600,000
New Second Lien Notes [Member] | Senior Notes [Member]
Debt Instrument, Interest Rate, Stated Percentage	8.00%
Rights Offering, Principal Amount of Debt Instrument Per Right	$ 2.78
Rights Offering, Debt Instrument, Purchase Price, Percentage of Principal	100.00%
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares	$ 3
Debt Instrument, Convertible, Number of Equity Instruments	38,700,000
Debt Instrument, Convertible, Number of Additional Equity Instruments (in shares) | shares	6,500,000
Long-term Debt, Gross	$ 116,200,000	7,097,000			$ 120,569,000
Debt Instrument, Face Amount	116,200,000
Long-term Debt, Total		$ 116,200,000
New Second Lien Notes [Member] | Senior Notes [Member] | Rights Offering [Member]
Proceeds from Issuance of Long-term Debt, Total	30,100,000
New Second Lien Notes [Member] | Senior Notes [Member] | Rights Offering [Member] | Backstop Parties [Member]
Debt Instrument, Face Amount	$ 1,500,000

Note 2 - Segment Information (D

Note 2 - Segment Information (Details Textual) $ in Thousands	Apr. 20, 2021USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Number of Operating Segments				2
Gain (Loss) on Extinguishment of Debt, Total				$ (4,696)	$ 0
Multi-client Data Library Impairment Charges		$ 0	$ 0	0	1,167
Goodwill, Impairment Loss		0	0	0	4,150	$ 4,150
Other Income [Member] | Payroll Protection Program Term Note [Member]
Government Relief Funding, Amortization			$ 6,900		$ 6,900
Other Income [Member] | Exchange Offer [Member]
Gain (Loss) on Extinguishment of Debt, Total	$ (4,700)	$ (4,700)		$ (4,700)

Note 2 - Segment Information -

Note 2 - Segment Information - Summary of Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended				6 Months Ended
		Jun. 30, 2021		Jun. 30, 2020		Jun. 30, 2021		Jun. 30, 2020
Net revenues		$ 19,714		$ 22,731		$ 33,750		$ 79,145
Gross profit (loss)		$ 3,638		$ 4,584		$ 4,497		$ 32,928
Gross margin		18.00%		20.00%		13.00%		42.00%
Loss from operations		$ (7,381)		$ (5,472)		$ (17,615)		$ 854
Interest expense, net		(3,299)		(3,414)		(6,561)		(6,635)
Other income (expense), net		(4,070)	[1]	6,771	[1]	(4,677)	[2]	7,200	[2]
Income (loss) before income taxes		(14,750)		(2,115)		(28,853)		1,419
Operating Segments [Member] | E and P Technology and Services [Member]
Net revenues		11,704		15,226		18,940		61,740
Gross profit (loss)		$ 1,018		$ 2,264		$ (589)	[3]	$ 25,994	[3]
Gross margin		9.00%		15.00%		(3.00%)		42.00%
Loss from operations		$ (2,691)		$ 442		$ (7,544)	[3]	$ 18,394	[3]
Operating Segments [Member] | E and P Technology and Services [Member] | New Venture [Member]
Net revenues		3,882		4,686		4,969		6,127
Operating Segments [Member] | E and P Technology and Services [Member] | Data Library [Member]
Net revenues		5,393		6,867		7,877		46,998
Operating Segments [Member] | E and P Technology and Services [Member] | Multi-client [Member]
Net revenues		9,275		11,553		12,846		53,125
Operating Segments [Member] | E and P Technology and Services [Member] | Imaging and Resevoir Services [Member]
Net revenues		2,429		3,673		6,094		8,615
Operating Segments [Member] | Operations Optimization [Member]
Net revenues		8,010		7,505		14,810		17,405
Gross profit (loss)		$ 2,620		$ 2,320		$ 5,086		$ 6,934
Gross margin		33.00%		31.00%		34.00%		40.00%
Loss from operations	[4]	$ 244		$ (474)		$ (576)		$ (3,733)
Operating Segments [Member] | Operations Optimization [Member] | Optimization Software and Services [Member]
Net revenues		3,370		3,377		6,214		7,804
Operating Segments [Member] | Operations Optimization [Member] | Devices [Member]
Net revenues		4,640		4,128		8,596		9,601
Segment Reconciling Items [Member]
Loss from operations		$ (4,934)		$ (5,440)		$ (9,495)		$ (13,807)
[1]	Includes loss on restructuring transactions of $4.7 million for the three and six months ended June 30, 2021 resulting from the exchange of the Company's Old Notes for New Notes.
[2]	Includes amortization of government relief funding of $6.9 million for the three and six months ended June 30, 2020.
[3]	Includes impairment of multi-client data library of $1.2 million for the six months ended June 30, 2020.
[4]	Includes impairment of goodwill of $4.2 million for the six months ended June 30, 2020.

Note 3 - Revenue from Contrac_3

Note 3 - Revenue from Contracts with Customers (Details Textual) - Customer Concentration Risk [Member]	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Revenue from Contract with Customer Benchmark [Member]
Number of Major Customers	1	1
Revenue from Contract with Customer Benchmark [Member] | Non-US [Member]
Concentration Risk, Percentage	94.00%	92.00%
Accounts Receivable [Member]
Number of Major Customers	2	2
Accounts Receivable [Member] | Two Customers [Member]
Concentration Risk, Percentage	53.00%	33.00%

Note 3 - Revenue from Contrac_4

Note 3 - Revenue from Contracts with Customers - Summary of Net Revenues by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net revenues	$ 19,714	$ 22,731	$ 33,750	$ 79,145
Europe [Member]
Net revenues	6,599	4,684	10,965	12,156
Africa [Member]
Net revenues	6,479	4,117	8,251	16,358
Asia Pacific [Member]
Net revenues	3,437	2,631	5,638	10,393
Latin America [Member]
Net revenues	1,072	7,992	4,575	28,053
North America [Member]
Net revenues	934	2,204	2,141	6,092
Middle East [Member]
Net revenues	704	942	1,432	1,896
Other [Member]
Net revenues	$ 489	$ 161	$ 748	$ 4,197

Note 3 - Revenue from Contrac_5

Note 3 - Revenue from Contracts with Customers - Summary of Unbilled Receivables and Deferred Revenue (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Unbilled receivables	$ 7,127
Unbilled receivables	11,262
Recognition of unbilled receivables (a)	30,111	[1]
Revenues billed to customers (a)	(34,246)	[1]
Deferred revenue	1,840
Deferred revenue	3,648
Cash collected in excess of revenue recognized	1,831
Recognition of deferred revenue	(3,639)	[2]
New Venture [Member]
Unbilled receivables	5,396
Unbilled receivables	9,158
Deferred revenue	500
Deferred revenue	2,169
Imaging and Resevoir Services [Member]
Unbilled receivables	1,604
Unbilled receivables	680
Deferred revenue	316
Deferred revenue	665
Devices [Member]
Unbilled receivables	127
Unbilled receivables	1,424
Deferred revenue	78
Deferred revenue	48
Optimization Software and Services [Member]
Deferred revenue	946
Deferred revenue	$ 766
[1]	Includes all gross revenue recognition and related billing activity of the Company. As a matter of process, all net revenue recognized is initially reflected as an unbilled receivable and subsequently billed to customers, as applicable, including net revenue for all of software and a portion of devices within the Operations Optimization segment, although they are billed at the time of recognition.
[2]	The majority of deferred revenue recognized relates to Company’s Ventures group.

Note 4 - Long-term Debt (Detail

Note 4 - Long-term Debt (Details Textual) $ / shares in Units, $ in Thousands		Jul. 19, 2021USD ($)	Apr. 20, 2021USD ($)$ / sharesshares	Aug. 16, 2018USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Long-term Debt, Total					$ 133,837	$ 133,837		$ 143,731
Stock Issued During Period, Shares, New Issues (in shares) | shares			10,900,000
Debt Conversion, Converted Instrument, Amount						11,755	$ 0
Repayments of Other Long-term Debt	[1]					18,576	1,527
Gain (Loss) on Extinguishment of Debt, Total						(4,696)	$ 0
Series A Preferred Stock [Member] | New Notes Trustee [Member]
Stock Issued During Period, Shares, New Issues (in shares) | shares			1
Preferred Stock, Liquidation Preference Per Share (in dollars per share) | $ / shares			$ 1
Preferred Stock, Convertible, Percentage of Debt Instrument Converted			75.00%
Convertible Preferred Stock, Conversion Price (in dollars per share) | $ / shares			$ 1
Line of Credit [Member] | Revolving Credit Facility [Member]
Long-term Debt, Gross	[2]				19,750	19,750		22,500
Line of Credit [Member] | Revolving Credit Facility [Member] | PNC Bank, National Association [Member]
Debt Instrument, Covenant, Minimum Excess Borrowing Availability for Five Consecutive Business Days				$ 6,250
Debt Instrument, Covenant, Minimum Excess Borrowing Availability on Any Given Business Day				5,000
Line of Credit Facility, Maximum Borrowing Capacity				50,000
Debt Instrument, Covenant, Maximum Borrowing Base Percentage of Net Orderly Liquidation Value, Multi-client Data Library				$ 28,500
Long-term Line of Credit, Total					19,800	19,800
Line of Credit Facility, Remaining Borrowing Capacity					6,100	6,100
Debt Instrument, Covenant, Minimum Fixed Cover Charge Ratio				1.1
Line of Credit, Current					19,800	19,800
Line of Credit [Member] | Revolving Credit Facility [Member] | PNC Bank, National Association [Member] | Subsidiary Borrowers [Member]
Debt Instrument, Percentage of Ownership Interest in Subsidiaries Subject to First Priority Security Interest				100.00%
Line of Credit [Member] | Revolving Credit Facility [Member] | PNC Bank, National Association [Member] | ION International Holdings L.P. [Member]
Debt Instrument, Percentage of Ownership Interest in Subsidiaries Subject to First Priority Security Interest				65.00%
Line of Credit [Member] | Revolving Credit Facility [Member] | PNC Bank, National Association [Member] | Subsequent Event [Member]
Repayments of Debt		$ 400
Line of Credit [Member] | Revolving Credit Facility [Member] | PNC Bank, National Association [Member] | GX Geoscience Corporation, S. De R.L. De C.V. [Member]
Line of Credit Facility, Maximum Borrowing Capacity					5,000	5,000
Debt Instrument, Covenant, Borrowing Base, Maximum Eligible Billed Receivables				$ 5,000
Line of Credit [Member] | Revolving Credit Facility [Member] | PNC Bank, National Association [Member] | Maximum [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate				3.00%
Line of Credit [Member] | Revolving Credit Facility [Member] | PNC Bank, National Association [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate				4.00%
Line of Credit [Member] | Revolving Credit Facility [Member] | PNC Bank, National Association [Member] | Minimum [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate				2.00%
Line of Credit [Member] | Revolving Credit Facility [Member] | PNC Bank, National Association [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate				3.00%
Second Lien Notes [Member] | Senior Notes [Member]
Long-term Debt, Total			$ 7,100		7,100	7,100		120,600
Long-term Debt, Gross			120,600		116,193	116,193		0
New Second Lien Notes [Member] | Senior Notes [Member]
Long-term Debt, Total					116,200	116,200
Long-term Debt, Gross			$ 116,200		7,097	7,097		$ 120,569
Debt Instrument, Interest Rate, Stated Percentage			8.00%
Debt Instrument, Convertible, Number of Shares to be Issued Per $1000 (in shares) | shares			333
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares			$ 3
Debt Instrument, Convertible, Number of Equity Instruments			38,700,000
Debt Instrument, Convertible, Number of Additional Equity Instruments (in shares) | shares			6,500,000
Debt Instrument, Convertible, Optional Conversion Period After Issue Date (Month)			18 months
Debt Instrument, Convertible, Threshold Trading Days			20
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger			175.00%
Debt Instrument, Covenant, Sale of Certain Assets, Percentage of Proceeds to Repurchase Debt			100.00%
New Second Lien Notes [Member] | Senior Notes [Member] | Debt Instrument, Redemption, Period One [Member]
Debt Instrument, Redemption Price, Percentage			100.00%
New Second Lien Notes [Member] | Senior Notes [Member] | Debt Instrument, Redemption, Period Two [Member]
Debt Instrument, Redemption Price, Percentage			100.00%
New Second Lien Notes [Member] | Senior Notes [Member] | Debt Instrument, Redemption, Period Three [Member]
Debt Instrument, Redemption Price, Percentage			101.00%
Old Notes [Member]
Repayments of Other Long-term Debt			$ 17,100
Exchange Offer [Member]
Debt Conversion, Original Debt, Amount			113,500
Debt Conversion, Converted Instrument, Amount			84,700
Extinguishment of Debt, Early Tender Payment			$ 4,000
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares			6,100,000
Write off of Deferred Debt Issuance Cost			$ 700
Exchange Offer [Member] | Other Income [Member]
Gain (Loss) on Extinguishment of Debt, Total			(4,700)		$ (4,700)	$ (4,700)
Debt Conversion Into Cash and Common Stock [Member]
Debt Conversion, Converted Instrument, Amount			$ 15,700
Exchange Offer, Early Participation [Member]
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares			1,500,000
[1]	Consists primarily of $17.1 million payment for the Old Notes resulting from the Exchange Offer.
[2]	The maturity of the revolving credit facility will accelerate if the Company is unable to repay or extend the maturity of the Existing Second Lien Notes (see detailed discussion below in "Revolving Credit Facility").

Note 4 - Long-term Debt - Summa

Note 4 - Long-term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands		Jun. 30, 2021	Apr. 20, 2021	Dec. 31, 2020
Equipment finance leases (see Footnote 11)		$ 129		$ 734
Costs associated with issuances of debt		(9,332)		(977)
Total, notes		133,837		143,731
Current maturities of long-term debt		(26,976)		(143,731)
Long-term debt, net of current maturities		106,861		0
Senior Notes [Member] | Second Lien Notes [Member]
Long-term debt		116,193	$ 120,600	0
Total, notes		7,100	7,100	120,600
Senior Notes [Member] | New Second Lien Notes [Member]
Long-term debt		7,097	$ 116,200	120,569
Total, notes		116,200
Line of Credit [Member] | Revolving Credit Facility [Member]
Long-term debt	[1]	19,750		22,500
Other Debt [Member]
Long-term debt		$ 0		$ 905
[1]	The maturity of the revolving credit facility will accelerate if the Company is unable to repay or extend the maturity of the Existing Second Lien Notes (see detailed discussion below in "Revolving Credit Facility").

Note 4 - Long-term Debt - Long-

Note 4 - Long-term Debt - Long-term Debt and Capital Lease Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
2022	$ 26,976
2023	0
2024	0
2025	0
Thereafter	116,193
Total, notes	133,837	$ 143,731
Total	143,169
Old and New Notes [Member]
2022, notes	7,097
2023, notes	0
2024, notes	0
2025, notes	0
Thereafter, notes	116,193
Total, notes	123,290
Credit Facility and Finance Lease [Member]
2022	19,879
2023	0
2024	0
2025	0
Thereafter	0
Total	$ 19,879

Note 5 - Government Relief Fu_2

Note 5 - Government Relief Funding (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Apr. 11, 2020
Employee Retention Tax Credit			$ 3.2
Employee Retention Tax Credit, Amount Received	$ 1.6
Employee Retention Tax Credit, Amount Expected to Be Refunded	$ 1.6		$ 1.6
Payroll Protection Program Term Note [Member]
Debt Instrument, Face Amount					$ 6.9
Debt Instrument, Interest Rate, Stated Percentage					1.00%
Payroll Protection Program Term Note [Member] | Other Income [Member]
Government Relief Funding, Amortization		$ 6.9		$ 6.9

Note 6 - Net Loss Per Common _2

Note 6 - Net Loss Per Common Share (Details Textual) - shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	407,967	647,483
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	1,182,092	873,371

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Deferred Tax Assets, Valuation Allowance, Total		$ 2,200		$ 2,200
Income Tax Expense (Benefit), Total	$ 8,776	$ 3,052	$ 1,927	$ 8,926
Unrecognized Tax Benefits, Ending Balance	400		400
Foreign Tax Authority [Member]
Deferred Tax Assets, Valuation Allowance, Total	$ 7,700		$ 7,700
Open Tax Year			2016 2017 2018 2019 2020 2021
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Open Tax Year			2017 2018 2019 2020 2021

Note 8 - Litigation (Details Te

Note 8 - Litigation (Details Textual) $ in Millions	Jul. 31, 2018USD ($)
DGH Appeal [Member] | Pending Litigation [Member]
Loss Contingency, Estimate of Possible Loss	$ 4.5

Note 9 - Details of Selected _3

Note 9 - Details of Selected Balance Sheet Accounts (Details Textual) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Mar. 31, 2020
Depreciation Expense, Including Finance Lease, Right-of-Use Asset, Amortization			$ 2,400	$ 1,800
Tangible Asset Impairment Charges, Total			0	0
Amortization of Multi-client Library			8,719	12,701
Multi-client Data Library Impairment Charges	$ 0	$ 0	0	1,167
Goodwill, Impairment Loss	$ 0	$ 0	0	4,150	$ 4,150
Operations Optimization [Member]
Goodwill, Impairment Loss			0	4,200	4,150
E and P Technology and Services [Member]
Goodwill, Impairment Loss			$ 0	$ 0	$ 0
Measurement Input, Discount Rate [Member]
Goodwill, Measurement Input						0.19

Note 9 - Details of Selected _4

Note 9 - Details of Selected Balance Sheet Accounts - Summary of Accounts Receivable (Details) - USD ($) $ in Thousands		Jun. 30, 2021	Dec. 31, 2020
Accounts receivable, principally trade		$ 11,778	$ 10,458
Less: allowance for expected credit losses	[1]	(1,247)	(2,413)
Accounts receivable, net		$ 10,531	$ 8,045
[1]	Allowance for expected credit losses primarily relates to two customers with outstanding receivable balance determined to be uncollectible in the fourth quarter of 2020.

Note 9 - Details of Selected _5

Note 9 - Details of Selected Balance Sheet Accounts - Summary of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Raw materials and purchased subassemblies	$ 17,807	$ 18,638
Work-in-process	1,841	1,218
Finished goods	3,977	4,417
Less: reserve for excess and obsolete inventories	(12,842)	(13,006)
Inventories, net	$ 10,783	$ 11,267

Note 9 - Details of Selected _6

Note 9 - Details of Selected Balance Sheet Accounts - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands		Jun. 30, 2021	Dec. 31, 2020
Property, plant, equipment and seismic rental equipment, gross		$ 173,048	$ 172,086
Less: accumulated depreciation		128,364	126,022
Less: impairment of long-lived assets		36,553	36,553
Property, plant, equipment and seismic rental equipment, net		8,131	9,511
Building [Member]
Property, plant, equipment and seismic rental equipment, gross		15,690	15,675
Machinery and Equipment [Member]
Property, plant, equipment and seismic rental equipment, gross		122,170	120,949
Seismic Rental Equipment [Member]
Property, plant, equipment and seismic rental equipment, gross		2,200	2,003
Furniture and Fixtures [Member]
Property, plant, equipment and seismic rental equipment, gross		3,180	3,172
Property, Plant and Equipment, Other Types [Member]
Property, plant, equipment and seismic rental equipment, gross	[1]	$ 29,808	$ 30,287
[1]	Consists primarily of cable-based ocean bottom acquisition technologies that were fully impaired.

Note 9 - Details of Selected _7

Note 9 - Details of Selected Balance Sheet Accounts - Multi-client Library Costs and Accumulated Amortization (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Gross costs of multi-client data creation	$ 1,034,708	$ 1,021,758
Less: accumulated amortization	(847,419)	(838,700)
Less: impairments to multi-client data library	(132,144)	(132,144)
Multi-client data library, net	$ 55,145	$ 50,914

Note 9 - Details of Selected _8

Note 9 - Details of Selected Balance Sheet Accounts - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Balance			$ 19,565	$ 23,585	$ 23,585
Impairment of goodwill	$ 0	$ 0	0	(4,150)	(4,150)
Impact of foreign currency translation adjustments			333		130
Balance	19,898		19,898		19,565
E and P Technology and Services [Member]
Balance			2,943	2,943	2,943
Impairment of goodwill			0	0	0
Impact of foreign currency translation adjustments			0		0
Balance	2,943		2,943		2,943
Operations Optimization [Member]
Balance			16,622	20,642	20,642
Impairment of goodwill			0	$ (4,200)	(4,150)
Impact of foreign currency translation adjustments			333		130
Balance	$ 16,955		$ 16,955		$ 16,622

Note 10 - Stockholders' Equit_3

Note 10 - Stockholders' Equity and Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Apr. 20, 2021	Feb. 16, 2021	Jun. 30, 2021	Jun. 30, 2020	Apr. 26, 2021	Dec. 31, 2020
Stock Issued During Period, Shares, New Issues (in shares)	10,900,000
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01		$ 0.01			$ 0.01
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)			407,967	647,483
Share-based Payment Arrangement, Expense			$ 800	$ 1,100
Restricted Stock and Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares)			1,182,092	873,371		732,707
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares)			662,591	906,850		754,582
Share-based Payment Arrangement, Expense			$ 0	$ (1,000)
The Securities Purchase Agreement [Member]
Stock Issued During Period, Shares, New Issues (in shares)		2,990,001
Common Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.01
Shares Issued, Price Per Share (in dollars per share)		$ 3.50
Proceeds from Issuance of Common Stock, Gross		$ 10,500
At-the-market Program [Member]
Equity Offering Program, Maximum Sale Amount					$ 10,000
Common Stock, Capital Shares Reserved for Future Issuance (in shares)			0

Note 10 - Stockholders' Equit_4

Note 10 - Stockholders' Equity and Stock-based Compensation - Restricted Stock and Restricted Stock Units Activity (Details) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2021
Balance (in shares)	647,483	407,967
Share-based Payment Arrangement, Option [Member]
Balance (in shares)		533,320
Options Granted (in shares)		0
Options Exercises (in shares)		0
Options Cancelled/forfeited (in shares)		(125,353)
Balance (in shares)		407,967
Restricted Stock and Restricted Stock Units [Member]
Balance (in shares)		732,707
Equity instruments other than options, authorized (in shares)		23,533
Equity instruments other than options, granted (in shares)		966,000
Equity instruments other than options, vested (in shares)		(473,204)
Equity instruments other than options, cancelled/forfeited (in shares)		(66,944)
Balance (in shares)	873,371	1,182,092
Stock Appreciation Rights (SARs) [Member]
Balance (in shares)		754,582
Options Granted (in shares)		0
Options Exercises (in shares)		(5,000)
Options Cancelled/forfeited (in shares)		(86,991)
Balance (in shares)	906,850	662,591

Note 10 - Stockholders' Equit_5

Note 10 - Stockholders' Equity and Stock-based Compensation - Valuation Assumptions (Details) - Stock Appreciation Rights (SARs) [Member]	6 Months Ended
	Jun. 30, 2021
Risk-free interest rates	0.70%
Expected lives (in years) (Year)	5 years 3 months 21 days
Expected dividend yield	0.00%
Expected volatility	94.70%

Note 11 - Lease Obligations (De

Note 11 - Lease Obligations (Details Textual) - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	May 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Renewal Term (Year)		10 years
Lessee, Lease, Termination Period (Year)		1 year
Operating Lease, Expense		$ 4.7	$ 5.3
Houston Data Center Lease [Member]
Leases, Lessee, Rent Expense Relief	$ 4
Minimum [Member]
Lessee, Lease, Remaining Lease Term (Year)		1 year
Maximum [Member]
Lessee, Lease, Remaining Lease Term (Year)		10 years
Lessee, Finance Lease, Interest Rate, Percent		8.70%

Note 12 - Supplemental Cash F_3

Note 12 - Supplemental Cash Flow Information and Non-cash Activity - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash paid during the period for:
Interest	$ 5,884	$ 6,048
Income taxes	1,824	5,448
Non-cash items from investing and financing activities:
Exchange of Old Notes for ION common stock	11,755	0
Restructuring transaction costs in accounts payable	$ 902	$ 0

Note 12 - Supplemental Cash F_4

Note 12 - Supplemental Cash Flow Information and Non-cash Activity - Reconciliation of Cash, Cash Equivalent, and Restricted Cash (Details) - USD ($) $ in Thousands		Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Cash and cash equivalents		$ 26,731	$ 37,486	$ 62,540
Total cash, cash equivalents, and restricted cash shown in consolidated statements of cash flows		29,058	$ 39,813	62,615	$ 33,118
Prepaid Expenses and Other Current Assets [Member]
Restricted cash	[1]	$ 2,327		$ 75
[1]	Relates to letters of credit issued during third quarter 2020, primarily in connection with the Houston office lease deposit.

Note 13 - Fair Value of Finan_2

Note 13 - Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2021	Apr. 20, 2021	Dec. 31, 2020
Long-term Debt, Total	$ 133,837		$ 143,731
Second Lien Notes [Member] | Senior Notes [Member]
Long-term Debt, Total	7,100	$ 7,100	120,600
Long-term Debt, Fair Value	7,200		$ 106,300
New Second Lien Notes [Member] | Senior Notes [Member]
Long-term Debt, Total	116,200
Long-term Debt, Fair Value	$ 119,400