Advanced Analytics Detection Product Adds to the Company’s Security Portfolio

Geospace Technologies Corporation (NASDAQ: GEOS) today announced the acquisition of Heartbeat Detector®, a heartbeat detection security technology developed by the United States Department of Energy’s Oak Ridge National Laboratory (ORNL). Effective July 31, 2025, Geospace acquired 100 percent of the outstanding shares from GeoVox Security, Inc., the company who first licensed and commercialized the technology from ORNL. Heartbeat Detector® uses a proprietary algorithm developed by ORNL researchers to reveal individuals attempting to hide in vehicles at security checkpoints by detecting a beating heart.

Used in more than a dozen countries to address human trafficking and prison security, the Heartbeat Detector® is a small, portable device that uses proprietary sensors to rapidly identify people hidden in vehicles, providing a modern, user-friendly interface in as little as 10 seconds. The product, which relies on GS-ONE LF single-element geophones manufactured by Geospace, has been proven 99% effective by Oak Ridge, Sandia and Thunder Mountain national laboratories.

Domestically, the Heartbeat Detector® is used extensively by departments of corrections and prison systems. Globally, the product has been leveraged for border crossings and prisons in Lithuania, Slovenia, Ukraine, Hong Kong, Czech Republic, Spain, France and Germany. The estimated market size for global prison facilities is 10,000 locations. There are more than 300 manned border checkpoint crossings in the United States and more than double that in Europe based on EU estimates.

“Our sensing products have a history in border and perimeter security applications. With this acquisition, we are responding to market demand for an accurate, simple, portable technology to combat human trafficking, illegal border crossings, entrance and exit from critical facilities, and prison breaks. The Heartbeat Detector® will align well with our current perimeter security and surveillance offerings in the Intelligent Industrial business segment,” said Rich Kelley, CEO of Geospace Technologies. “As part of our long-term growth plan, we have sought out immediately accretive acquisitions to our newly established business segments. We intend to offer the Heartbeat Detector® on a subscription basis to enable the customer base to streamline acquisition through lower upfront costs. This recurring revenue business model is becoming increasingly important in the strategic growth strategy of our company.”

“It is deeply gratifying to see success in this partnership to commercialize ORNL’s heartbeat detection technology,” said Jen Caldwell, director of technology transfer at Oak Ridge National Labs. “We strive to develop innovations of lasting market value that make significant contributions in a wide range of applications including safety and security. This heartbeat detection technology has more than achieved this objective, and we look forward to future successes with our partner Geospace, who shares our mission to tackle tough scientific challenges.”

“Having achieved this sale agreement with Geospace maintains the vision my father had when he licensed the heartbeat detection algorithm from ORNL more than 25 years ago,” said Andrew White, GeoVox president and son of former Texas Governor Mark White. “This transition into the capable business model of Geospace will further my father’s legacy as the company advances this safety and security technology to the next level.”

About Geospace Technologies

Geospace Technologies is a global technology and instrumentation manufacturer specializing in vibration sensing and highly ruggedized products which serve energy, industrial, government and commercial customers worldwide. The Company’s products blend engineering expertise with advanced analytic software to optimize energy exploration, enhance national and homeland security, empower water utility and property managers, and streamline electronic printing solutions. With more than four decades of operational excellence, the Company’s more than 600 employees across the world are dedicated to engineering and technical quality. Geospace is traded on the U.S. NASDAQ stock exchange under the ticker symbol GEOS. For more information, visit www.geospace.com.

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