Note 19 - Segment Geographic Information

12 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

19. 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,
	2023			2022
Revenue:
Oil and Gas Markets	$	73,993		$	49,141
Adjacent Markets		49,039			39,171
Emerging Markets		1,234			711
Corporate		243			230
Total		124,509			89,253
Income (loss) from operations:
Oil and Gas Markets		15,759			(7,539	)
Adjacent Markets		11,490			6,021
Emerging Markets		(4,003	)		(9,128	)
Corporate		(11,918	)		(12,490	)
Total		11,328			(23,136	)
Depreciation and amortization expenses:
Oil and Gas Markets		14,428			16,947
Adjacent Markets		703			743
Emerging Markets		565			1,068
Corporate		542			802
Total		16,238			19,560
Impairment, inventory obsolescence and stock-based compensation expenses:
Oil and Gas Markets		2,329			3,612
Adjacent Markets		656			932
Emerging Markets		52			4,423
Corporate		566			727
Total		3,603			9,694
Interest income:
Oil and Gas Markets		352			850
Adjacent Markets		—			—
Emerging Markets		—			—
Corporate		187			126
Total		539			976
Interest expense:
Oil and Gas Markets		105			65
Adjacent Markets		—			—
Emerging Markets		—			—
Corporate		29			—
Total		134			65

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” loss 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,
	2023		2022
United States	$	118,017	$	82,332
Canada		1,924		1,615
Russian Federation		1,850		1,922
United Kingdom		2,718		3,384
	$	124,509	$	89,253

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

	YEAR ENDED SEPTEMBER 30,
	2023		2022
Asia (including Russian Federation)	$	26,685	$	13,823
Canada		2,703		1,225
Europe		20,826		28,381
South America		8,166		7,547
United States		62,611		35,171
Other		3,518		3,106
	$	124,509	$	89,253

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 assets were as follows (in thousands):

	AS OF SEPTEMBER 30,
	2023		2022
United States	$	75,321	$	71,742
Canada		575		1,459
Colombia		442		449
Russian Federation		543		1,010
United Kingdom		383		422
China		—		13
	$	77,264	$	75,095