Geospace Technologies Corporation (GEOS) Earnings Call Transcript & Summary

Hello, and welcome to the Annual Meeting of Stockholders of Geospace Technologies Corporation. Please note that today's meeting is being recorded. It is now my pleasure to turn today's meeting over to Steve Jumper, Chairman of the Board. Mr. Jumper, the floor is yours.

Well, thank you, Megan. Good morning. I am Steve Jumper, Chairman of the Board of Geospace Technologies Corporation. On behalf of myself and the other members of the Board of Directors, I welcome you to the 2026 Annual Meeting of Stockholders. We are pleased to have each of you join us in this meeting. If you have joined this call, you have either joined as a stockholder or a guest. Only stockholders who have signed in as stockholders may vote during our meeting. Those who have signed into the meeting as guests may listen but may not vote. If you joined as a stockholder, you are required to enter a control number. If you are a stockholder and joined as a guest, and as a stockholder, you may -- you want to vote, you will need to leave the meeting and sign in again as a stockholder and provide your control number as the meeting notice describes. Any votes that any stockholder cast prior to the meeting will not be changed unless the stockholder has logged in as a stockholder and votes during the meeting. Stockholders who have signed in as stockholders must click the Vote tab on your screen if you desire to change your vote or cast a vote for any matter. Before we begin the business portion of the meeting, I would like to recognize several individuals. First, I would like to introduce to you the other members of our Board of Directors who are joining us today. They are Ms. Margaret Ashworth; Dr. Thomas Davis; Mr. Edgar Giesinger, Jr.; Mr. Richard Kelley, Mr. Richard Miles; Mr. Walter Wheeler. The executives of the Geospace joining us today are Mr. Richard Kelley, our Chief Executive Officer; Mr. Robert Curda, our Chief Financial Officer; and Mr. Todd Bushey, our Chief Technology Officer. Finally, I would like to introduce Leah Zeitzu with Computershare Trust Company, our transfer agent and registrar, who will act as judge of election for the meeting. Leah will handle any inquiries that stockholders may have about their respective votes. The Geospace Technologies Corporation Annual Meeting of Stockholders is now called to order. I will act as Chairman of the meeting, and Mr. Robert Curda will act as Secretary of the meeting. This is the Annual Meeting of Stockholders of Geospace Technologies Corporation and as such, is a forum for dialogue between the stockholders and management of the company about matters related to the business of the company. As stated before, stockholders may vote or change their vote during this meeting by clicking the link Vote tab on your screen. Your virtual vote will cancel out any prior ballot or proxy that you may have previously voted. An affidavit of mailing executed to Computershare Trust Company was delivered to the company, which states that Computershare Trust Company caused to be mailed on or about December 26, 2025, to each of the record holders of the company's common stock as of the close of business, December 11, 2025, either a proxy statement, the annual report to stockholders, a pre-addressed proxy card and return envelope relating to this annual meeting or a notice of Internet availability of proxy materials. The Secretary of the meeting will cause this affidavit, together with a copy of the proxy statement to be filed with the minutes of this meeting. Leah Zeitzu of Computershare Trust Company will act as a judge of election for this annual meeting. Leah will handle any inquiries that stockholders may have about their respective votes. Prior to the meeting, she executed an oath of judge of election and presented the oath to the Secretary. The Secretary of the meeting will file the oath with the minutes of this meeting. A list of stockholders of the company entitled to notice of and to vote at this annual meeting, along with their addresses and number of shares held, has been on file at the principal executive offices of the company, open to examination by any stockholder during the ordinary course of business hours for at least 10 days. This list may also be accessed by shareholders (sic) [ stockholders ] by clicking on the Document tab. The judge of election will now report as to whether the presence of a quorum can be determined from the proxy submitted prior to the meeting and from the stockholders virtually present. Leah?

Mr. Chairman, a quorum is present. I have set forth the calculations of the quorum in the certificate of proxy inspection and tabulation.

Thank you. The Secretary of the meeting will file the certificate of proxy inspection and tabulation executed by the Judge of Election with the minutes of this meeting. Notice of this meeting has been properly sent and a quorum of the shares is present in person or by proxy. This annual meeting is, therefore, duly constituted and ready for the transaction of business. The first item of business is to elect three directors to hold office as Class I directors until the 2029 Annual Meeting of Stockholders or until his or her successor is duly elected and qualified. The Nominating and Corporate Governance Committee of the Board of Directors has nominated Dr. Thomas Davis, Richard Miles and Walter Wheeler to be elected as Class I directors. The second item of business is to ratify the appointment by the Audit Committee of the Board of Directors of RSM US LLP, independent accountants as our auditors for the year ending September 30, 2026. The third item of business is to vote on a nonbinding advisory resolution regarding the compensation of Geospace Technologies Corporation's named executive officers. We will now proceed to the vote. If you voted previously, you do not need to vote again unless you wish to change your vote. As a reminder, submission of a ballot revokes any prior ballot or proxy you may have submitted. If you have sent in proxies or voted via telephone or Internet and do not want to change your vote, you do not need to take any further action. The judge of election will now count the vote. [Voting]

Have all the ballots been counted?

Yes, Mr. Chairman.

Since all the stockholders and proxies entitled and desiring to vote have done so, I declare the polls closed. Will the judge of election please report on the preliminary results of the votes for the proposals presented?

Yes. On Proposal 1, each of the three director nominees standing for election have received the affirmative vote of a majority of the votes cast for election as directors of the company and are therefore reelected. On Proposal 2, a majority of the shares present in person or represented by proxy at the meeting and entitled to vote were voted in favor of the ratification of the appointment of RSM US LLP, independent public accountants as the company's auditors for the fiscal year ended September 30, 2026, and therefore, the proposal 2 has passed. And on Proposal 3, a majority of the shares present in person or represented by proxy at the meeting and entitled to vote were voted in favor of the nonbinding advisory resolution regarding the compensation of the company's named executive officers as disclosed in the proxy statement, and therefore, the proposal 3 has passed. I have set forth the results of my tabulation of the voting in the Certificate of Judge of Election.

Well, thank you, Leah. The Secretary of the meeting will file the Certificate of Judge of Election with the minutes of the meeting. This concludes our formal agenda for today. There being no further business to come before the meeting, the meeting is now adjourned. I will turn it back to you, Megan. Megan?

That does conclude today's call. Thank you for joining. You may now disconnect.