Geospace Technologies Subsidiary Quantum Lands $10.8 Million Sole Source Federal Contract

HOUSTON--(BUSINESS WIRE)--Geospace Technologies (NASDAQ: GEOS) today announced that its subsidiary Quantum Technology Sciences secured a firm-fixed-price contract with the U.S. Naval Surface Warfare Center Crane Division, Crane, Indiana. The contract is a Small Business Innovative Research Phase III sole-source award for the Company’s Seismic Acoustic Detection and Ranging Underwater System. The estimated value of this initial contract is $10,843,003 through the end of fiscal year 2027.

Geospace will provide an application of the company’s proprietary acoustic sensor and analytics based on the underlying SADAR^® system by deploying passive seismic-acoustic phased array systems.

About Geospace Technologies

Geospace Technologies is a global technology and instrumentation manufacturer specializing in advanced sensing, IOT and highly ruggedized products, which serve smart water, energy exploration, industrial, government and commercial customers worldwide. The Company’s products blend engineering expertise with advanced analytic software to optimize energy exploration, enhance national and homeland security, empower water utility and property managers, and streamline electronic printing solutions. With more than four decades of excellence, the Company’s more than 400 employees across the world are dedicated to engineering and technical quality. Geospace is traded on the U.S. NASDAQ stock exchange under the ticker symbol GEOS. For more information, visit www.geospace.com.