Note 7 - Property, Plant and Equipment

9 Months Ended

Jun. 30, 2025

Property, Plant and Equipment Disclosure [Text Block]

7. Property, Plant and Equipment

In June 2025, the Company sold its property located at 4318 Northfield Lane in Houston, Texas. The 17.3-acre property served as additional parking for the Company's main campus and contained legacy structures used to support its manufacturing and warehousing operations. The property had been classified as assets held on the Company's consolidated balance sheets since September 30, 2024. The Company recognized a gain on disposal of property of $4.6 million during the second quarter of fiscal year 2025. The gain is included as a component of income (loss) from operations on the Company's consolidated statements of operations.

	*June 30, 2025*			*September 30, 2024*
Land and land improvements	$	2,872		$	4,869
Building and building improvements		24,012			21,312
Machinery and equipment		50,065			49,860
Furniture and fixtures		1,276			1,470
Tools and molds		3,683			3,628
Construction in progress		1,900			392
Transportation equipment		41			75
		83,849			81,606
Accumulated depreciation and impairment		(61,660	)		(60,523	)
	$	22,189		$	21,083

Property, plant and equipment depreciation expense for the three and nine months ended June 30, 2025 was $0.9 million and $2.7 million, respectively. Property, plant and equipment depreciation expense for the three and nine months ended June 30, 2024 was $0.9 million and $2.6 million, respectively.

GEOSPACE TECHNOLOGIES CORP 10-Q