Note 20 - Segment Information

12 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

20. Segment and Geographic Information

The Company reports and evaluates financial information for three operating business segments: Oil and Gas Markets, Adjacent Markets and Emerging Markets. The Oil and Gas Markets segment’s products include wireless seismic data acquisition systems, reservoir characterization products and services, and traditional seismic exploration products such as geophones, hydrophones, leader wire, connectors, cables, marine streamer retrieval and steering devices and various other seismic products. The Adjacent Markets segment’s products include imaging equipment, water meter products, remote shut-off valves and IoT platform, as well as seismic sensors used for vibration monitoring and geotechnical applications such as mine safety applications and earthquake detection. The Emerging Markets segment designs and markets seismic products targeted at the border and perimeter security markets.

The following tables summarize the Company’s segment information:

	YEAR ENDED SEPTEMBER 30,
	2024			2023
Revenue:
Oil and Gas Markets	$	77,455		$	73,993
Adjacent Markets		55,625			49,039
Emerging Markets		2,222			1,234
Corporate		296			243
	135,598			124,509
Income (loss) from operations:
Oil and Gas Markets		13,134			15,759
Adjacent Markets		14,152			11,490
Emerging Markets		(6,193	)		(4,003	)
Corporate		(13,976	)		(11,918	)
	7,117			11,328
Depreciation and amortization expenses:
Oil and Gas Markets		13,243			14,428
Adjacent Markets		860			703
Emerging Markets		275			565
Corporate		388			542
	14,766			16,238
Impairment, inventory obsolescence and stock-based compensation expenses:
Oil and Gas Markets		993			2,329
Adjacent Markets		221			656
Emerging Markets		2,798			52
Corporate		642			566
	4,654			3,603
Interest income:
Oil and Gas Markets		315			352
Adjacent Markets		—			—
Emerging Markets		—			—
Corporate		1,243			187
	1,558			539
Interest expense:
Oil and Gas Markets		17			105
Adjacent Markets		—			—
Emerging Markets		—			—
Corporate		170			29
	187			134

The Company’s manufacturing operations for its business segments are combined. Therefore, the Company does not segregate and report separate balance sheet accounts for each of its segments and, therefore, no such segment balance sheet information is presented in the table above.

“Corporate” expense from operations primarily consists of the Company’s Houston headquarters general and administrative expenses.

The Company generates revenue from product sales, product rentals and services from its subsidiaries located in the United States, Canada, Colombia, the Russian Federation and the United Kingdom. Revenue generated by the Company’s subsidiaries is as follows (in thousands):

	YEAR ENDED SEPTEMBER 30,
	2024		2023
United States	$	127,488	$	118,017
Canada		1,777		1,924
Russian Federation		3,487		1,850
United Kingdom		2,846		2,718
	$	135,598	$	124,509

A summary of revenue by geographic area is as follows (in thousands):

	YEAR ENDED SEPTEMBER 30,
	2024		2023
Asia (including Russian Federation)	$	51,103	$	26,685
Canada		2,015		2,703
Europe		13,817		20,826
Mexico		1,959		1,792
South America		2,798		8,166
United States		63,061		62,611
Other		845		1,726
	$	135,598	$	124,509

Revenue is attributed to countries based on the ultimate destination of the product sold, if known. If the ultimate destination is not known, revenue is attributed to countries based on the geographic location of the initial shipment.

Long-lived asset balances are as follows (in thousands):

	AS OF SEPTEMBER 30,
	2024		2023
United States	$	61,487	$	75,321
Canada		414		575
Colombia		399		442
Russian Federation		—		543
United Kingdom		528		383
	$	62,828	$	77,264