#United States #financial results #The Woodlands #MIND Technology #Seamap

MIND Technology, Inc. Reports Fiscal 2026 Second Quarter Results

MIND Technology, Inc. (NASDAQ: MIND) has recently released its financial results for the second quarter ended July 31, 2025, marking a significant rebound in performance compared to previous quarters. With revenues reaching approximately $13.6 million, MIND displayed an impressive growth trend, up from $7.9 million in the first quarter and surpassing last year's $10 million reported in the same quarter.

This quarter, MIND reported an operational income of about $2.7 million, a strong recovery from a previous loss of $658,000 in the first quarter of FY2026 and showcasing an increase from $1.4 million in Q2 of FY2025. The net income stood at $1.9 million, contrasting with the net loss of $970,000 from the preceding quarter, and showcasing growth from $798,000 year-on-year. Per share, this translates to earnings of $0.24 for Q2 FY2026, significantly up from the previous losses per share reported in earlier periods.

Another critical metric, Adjusted EBITDA, climbed to approximately $3.1 million from a negative Adjusted EBITDA of $179,000 reported earlier this fiscal year and increased from $1.8 million during the same time in FY2025. This metric, which helps in assessing the operational performance without including irregular expenses, indicates a positive shift in the financial health of MIND Technology, aiding investor confidence.

In terms of product offerings, the Seamap segment showed remarkable performance, with revenues driven by system sales and strong contributions from after-market services. For the first half of the fiscal year, after-market related services contributed to around 68% of total revenues, highlighting the importance of this segment in MIND's financial performance.

Rob Capps, MIND's President and CEO, commented on the results, stating that the company successfully navigated delivery delays from earlier in the year and regained positive EBITDA and profitability. He emphasized MIND's strategy to enhance shareholder value while capitalizing on ongoing market demand, despite broader economic uncertainties affecting customer decision-making.

MIND's reported backlog of Marine Technology Products, albeit lower than the previous quarters, stood at approximately $12.8 million, indicating the need for strategic maneuvers to restore it to previous levels as order pipelines remain robust. Capps expressed optimism about future orders that could bolster their backlog and align with earlier performance levels.

Looking towards the market landscape, Capps assured stakeholders of MIND's position to leverage product innovation to meet the growing customer interest in their offerings, particularly in Seamap products. The management aims to remain agile in evaluating opportunities that facilitate financial flexibility while pursuing a strategic roadmap effectively.

The upcoming conference call scheduled for September 10, 2025, will provide an opportunity for more insights into MIND's plans moving forward. Stakeholders and interested investors can dial in or access the call via MIND's investor relations webpage.

About MIND Technology

MIND Technology, Inc. specializes in providing innovative technological solutions across oceanographic, hydrographic, defense, seismic, and security industries. Based in The Woodlands, Texas, MIND has a global footprint, with operational bases in critical locations including the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit is noted for designing and manufacturing high-performance marine exploration and survey equipment, illustrating MIND's commitment to leading technological advancements in marine technology.

In summary, MIND Technology, Inc. has rebounded strongly in Q2 FY2026, eliminating prior operational losses and returning to positive financial outcomes. With a proactive approach toward financial and operational strategy, the company is poised for continued growth as it responds to evolving market demands.