Geospace Technologies designs and manufactures sensor-based technology products across three segments: Smart Water, Energy Solutions, and Intelligent Industrial. Smart Water, roughly 32% of FY25 revenue, is built around Hydroconn — a waterproof connector cable used in Automated Meter Reading and Advanced Metering Infrastructure systems that has become the industry-standard connector for water utilities. Geospace sells Hydroconn through water meter OEM partners and directly to utilities. The segment also includes Aquana, an IoT-enabled remote shutoff valve and leak detection system sold to utilities and multifamily property owners. Energy Solutions, roughly 46% of FY25 revenue, sells seismic data acquisition systems to oil and gas seismic contractors, including land-based wireless nodal systems, ocean bottom nodal systems (which Geospace also rents to contractors), and OptoSeis fiber optic Permanent Reservoir Monitoring systems that are permanently installed on the seabed of producing oil fields. PRM is a large-contract business; a Petrobras contract is expected to generate over $80M in equipment revenue. Intelligent Industrial, the remaining roughly 22% of revenue, includes industrial sensors, contract manufacturing, imaging equipment, and a growing security portfolio — notably SADAR (a seismic perimeter detection system) and the Heartbeat Detector, which identifies humans hidden in vehicles and is sold primarily to U.S. government agencies. Geospace's stated goal is to reduce reliance on the cyclical Energy Solutions segment by growing Smart Water organically and through tuck-in acquisitions, while building recurring revenue streams in its security products.