Geospace Technologies Announces The Sale Of OBX-750E Seabed Ocean Bottom Wireless Seismic Data Acquisition Nodes To SAExploration; Value Of The Agreement Is Estimated At $10.5M
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Geospace Technologies Corporation (NASDAQ:GEOS) has sold OBX-750E seabed ocean bottom wireless seismic data acquisition nodes to SAExploration for an estimated $10.5 million. This sale follows SAExploration's decision to exercise an option in their rental agreement.
August 27, 2024 | 9:24 pm
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Geospace Technologies has secured a $10.5 million deal with SAExploration for the sale of OBX-750E nodes, indicating a positive revenue impact.
The sale of OBX-750E nodes to SAExploration for $10.5 million is a significant revenue event for Geospace Technologies. This transaction not only reflects a successful conversion of a rental agreement into a sale but also enhances the company's financial position. The deal is likely to positively influence GEOS's stock price in the short term due to the substantial revenue addition.
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