MIND Technology Inc (MIND)

MIND Technology Announces Participation in the iAccess Alpha Virtual Best Ideas Summer Investment Conference 2026June 18, 2026 4:15 PM
PR Newswire (US) THE WOODLANDS, Texas, June 18, 2026 /PRNewswire/ -- MIND Technology, Inc. ("MIND" or the "Company") (Nasdaq: MIND) announced today its management will be participating in the iAccess Alpha Virtual Best Ideas Summer Investment Conference June 23–24, 2026.Representing MIND, Rob Capps, President and CEO, will deliver a presentation at 12:00pm EDT on Tuesday, June 23rd, and the webcast can be accessed live here: https://www.webcaster5.com/Webcast/Page/3165/54051. This will be followed by one-on-one meetings with investors on June 24th.A copy of the presentation will be accessible on the Investor Relations section of the Company's website: https://ir.mind-technology.com/events-and-presentations. A replay of MIND's iAccess Alpha webcast will be archived on the Company's Events and Presentation page following the event.For more information about the iAccess Alpha Virtual Best Ideas Summer Investment Conference 2026, or to register and schedule a one-on-one meeting with MIND Technology, please visit the conference website at: https://www.iaccessalpha.com.About MIND TechnologyMIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom.  Its Seamap unit designs, manufactures and sells specialized, high performance, marine exploration and survey equipment. Contacts:Rob Capps, President & CEO
MIND Technology, Inc.
281-353-4475


Ken Dennard / Zach Vaughan
Dennard Lascar Investor Relations
713-529-6600
MIND@dennardlascar.com View original content:https://www.prnewswire.com/news-releases/mind-technology-announces-participation-in-the-iaccess-alpha-virtual-best-ideas-summer-investment-conference-2026-302804669.htmlSOURCE MIND Technology, Inc. Original: MIND Technology Announces Participation in the iAccess Alpha Virtual Best Ideas Summer Investment Conference 2026

MIND TECHNOLOGY, INC. REPORTS FISCAL 2027 FIRST QUARTER RESULTSJune 10, 2026 4:15 PM
PR Newswire (US) THE WOODLANDS, Texas, June 10, 2026 /PRNewswire/ -- MIND Technology, Inc. (NASDAQ: MIND) ("MIND" or the "Company") today announced financial results for its fiscal 2027 first quarter ended April 30, 2026.Revenues for the first quarter of fiscal 2027 were approximately $9.7 million compared to $9.8 million for the fourth quarter of fiscal 2026 and $7.9 million for the first quarter of fiscal 2026.The Company reported operating income of $14,000 for the first quarter of fiscal 2027 compared to $78,000 for the fourth quarter of fiscal 2026 and an operating loss of $658,000 for the first quarter of fiscal 2026. Net loss for the first quarter of fiscal 2027 amounted to $411,000, or a loss of $0.05 per share, compared to a net loss of $271,000, or a loss of $0.03 per share, for the fourth quarter of fiscal 2026 and a net loss of $970,000, or a loss of $0.12 per share, for the first quarter of fiscal 2026. In computing net loss per common share, approximately 9,089,000 shares were outstanding for the first quarter of fiscal 2027, compared to 9,040,000 shares for the fourth quarter of fiscal 2026, and 7,969,000 shares during the first quarter of fiscal 2026.Adjusted EBITDA for the first quarter of fiscal 2027 was $811,000 compared to Adjusted EBITDA of $1.1 million for the fourth quarter of fiscal 2026 and negative Adjusted EBITDA of $179,000 for the first quarter of fiscal 2026. Adjusted EBITDA, which is a non-GAAP measure, is defined and reconciled to reported net income (loss) and cash provided by (used in) operating activities in the accompanying financial tables. These are the most directly comparable financial measures calculated and presented in accordance with United States generally accepted accounting principles, or GAAP.The backlog of Marine Technology Product orders related to our Seamap segment was approximately $7.6 million as of April 30, 2026 compared to $13.9 million at January 31, 2026 and $21.1 million at April 30, 2025.Rob Capps, MIND's President and Chief Executive Officer, stated, "Our first quarter results were consistent with our expectations, and we delivered another quarter of positive Adjusted EBITDA. Our after-market business remains a steady contributor that made up about 50% of our total revenue in this most recent quarter. This component of our business continues to provide a solid base of revenue."As we discussed last quarter, near-term visibility across our markets remains impacted by significant macro uncertainty, yet our conviction in MIND's long-term prospects remains strong. Certain of our customers have seen an impact on their operations from the on-going conflict in the Middle East. Additionally, we believe that overall economic, security and political uncertainties are causing many, if not all, companies within the marine technology industry to be cautious in the near term. In our opinion, these factors are major contributors to our reduced near-term visibility. While we will likely see some operational softness in the very near-term, we believe the longer term outlook for the marine exploration and survey market is positive. Some of our customers are reporting increasing backlogs and many industry commentators predict a strong resurgence in marine exploration activity.  These factors bode well for MIND's longer-term outlook. Our financial position and liquidity remain strong.  We believe we are well positioned to weather any near-term challenges and to take advantage of emerging opportunities."As we have stated previously, we are committed to enhancing stockholder value and are open to a variety of means to accomplish that objective. We continue to identify and evaluate a number of such opportunities and intend to maintain our disciplined approach. MIND has both the resources and the flexibility to act quickly and efficiently when the right opportunity arises," concluded Capps.CONFERENCE CALLManagement has scheduled a conference call for Thursday, June 11, 2026 at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) to discuss the Company's fiscal 2027 first quarter results. To access the call, please dial (412) 902-0030 and ask for the MIND Technology call at least 10 minutes prior to the start time. Investors may also listen to the conference live on the MIND Technology website, http://mind-technology.com, by logging onto the site and clicking "Investor Relations". A telephonic replay of the conference call will be available through June 18, 2026, and may be accessed by calling (201) 612-7415 and using passcode 13760778#.  A webcast archive will also be available at http://mind-technology.com shortly after the call and will be accessible for approximately 90 days. For more information, please contact Dennard Lascar Investor Relations by email at MIND@dennardlascar.com.ABOUT MIND TECHNOLOGYMIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit designs, manufactures and sells specialized, high performance, marine exploration and survey equipment. Forward-looking Statements Certain statements and information in this press release concerning results for the quarter ended April 30, 2026 may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, and our objectives for future operations, are forward-looking statements. The words "believe," "expect," "anticipate," "plan," "intend," "should," "would," "could" or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature.  These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us.  While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate.  All comments concerning our expectations for future revenues and operating results are based on our forecasts of our existing operations and do not include the potential impact of any future acquisitions or dispositions.  Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, without limitation, reductions in our customers' capital budgets, our own capital budget, limitations on the availability of capital or higher costs of capital, and volatility in commodity prices for oil and natural gas.For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof.  We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, unless required by law, whether as a result of new information, future events or otherwise. All forward-looking statements included in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to herein.Non-GAAP Financial MeasuresCertain statements and information in this press release contain non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with United States generally accepted accounting principles, or GAAP.  Company management believes that these non-GAAP financial measures, when considered together with the GAAP financial measures, provide information that is useful to investors in understanding period-over-period operating results separate and apart from items that may, or could, have a disproportionately positive or negative impact on results in any particular period. Company management also believes that these non-GAAP financial measures enhance the ability of investors to analyze the Company's business trends and to understand the Company's performance. In addition, the Company may utilize non-GAAP financial measures as guides in its forecasting, budgeting, and long-term planning processes and to measure operating performance for some management compensation purposes. Any analysis of non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP. Adjusted EBITDA, which is a non-GAAP measure, is defined and reconciled to reported net income from continuing operations and cash used in operating activities in the accompanying financial tables. These are the most directly comparable financial measures calculated and presented in accordance with United States generally accepted accounting principles, or GAAP.Reconciliation of Backlog, which is a non-GAAP financial measure, is not included in this press release due to the inherent difficulty and impracticality of quantifying certain amounts that would be required to calculate the most directly comparable GAAP financial measures.-Tables to Follow-MIND TECHNOLOGY, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, except per share data)(unaudited)


April 30,
2026

January 31,
2026
ASSETS
Current assets:







Cash and cash equivalents
$17,656

$19,050
Accounts receivable, net of allowance for credit losses of $332 at each of April 30, 2026
     and January 31, 2026

16,515


12,570
Inventories, net

10,977


11,150
Prepaid expenses and other current assets

1,593


2,114
Total current assets

46,741


44,884
Property and equipment, net

1,196


1,235
Operating lease right-of-use assets

910


1,092
Intangible assets, net

1,614


1,753
Deferred tax asset

302


302
Total assets
$50,763

$49,266
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:







Accounts payable
$1,499

$1,214
Deferred revenue

598


320
Customer deposits

901


971
Accrued expenses and other current liabilities

2,610


1,596
Income taxes payable

2,721


2,656
Operating lease liabilities - current

655


686
Total current liabilities

8,984


7,443
Operating lease liabilities - non-current

255


406
Total liabilities

9,239


7,849
Stockholders' equity:







Common stock, $0.01 par value; 40,000 shares authorized; 9,089 shares issued and
     outstanding at April 30, 2026 and at January 31, 2026

91


91
Additional paid-in capital

149,508


148,990
Accumulated deficit

(108,109)


(107,698)
Accumulated other comprehensive gain

34


34
Total stockholders' equity

41,524


41,417
Total liabilities and stockholders' equity
$50,763

$49,266
 MIND TECHNOLOGY, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share data)(unaudited)


For the Three Months Ended April
30,


2026

2025
Revenues:







Sales of marine technology products
$9,672

$7,902
Cost of sales:







Sales of marine technology products

5,575


4,571
Gross profit

4,097


3,331
Operating expenses:







Selling, general and administrative

3,545


3,384
Research and development

310


380
Depreciation and amortization

228


225
Total operating expenses

4,083


3,989
Operating income (loss)

14


(658)
Other income (expense):







Other, net

51


(18)
Total other income (expense)

51


(18)
Income (loss) before income taxes

65


(676)
Provision for income taxes

(476)


(294)
Net loss
$(411)

$(970)
Net loss per common share - Basic and diluted
$(0.05)

$(0.12)
Shares used in computing net loss per common share:







Basic and diluted

9,089


7,969
 MIND TECHNOLOGY, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)(unaudited)


For the Three Months Ended April
30,


2026

2025
Cash flows from operating activities:







Net loss
$(411)

$(970)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:







Depreciation and amortization

228


225
Stock-based compensation

518


272
Provision for inventory obsolescence

—


15
Changes in:







Accounts receivable

(3,961)


3,969
Unbilled revenue

17


16
Inventories

172


282
Prepaid expenses and other current and long-term assets

521


(92)
Income taxes receivable and payable

65


208
Accounts payable, accrued expenses and other current liabilities

1,713


(386)
Deferred revenue and customer deposits

(208)


529
Net cash (used in) provided by operating activities

(1,346)


4,068
Cash flows from investing activities:







Purchases of property and equipment

(48)


(237)
Net cash used in investing activities

(48)


(237)
Cash flows from financing activities:







Net cash provided by financing activities

—


—
Effect of changes in foreign exchange rates on cash and cash equivalents

—


5
Net change in cash and cash equivalents

(1,394)


3,836
Cash and cash equivalents, beginning of period

19,050


5,336
Cash and cash equivalents, end of period
$17,656

$9,172
 MIND TECHNOLOGY, INC.Reconciliation of Net Loss and Net Cash (Used in) Provided by Operating Activities to EBITDA andAdjusted EBITDA(in thousands)(unaudited)


For the Three Months Ended April
30,


2026

2025
Reconciliation of Net loss to EBITDA and Adjusted EBITDA


Net loss
$(411)

$(970)
Depreciation and amortization

228


225
Provision for income taxes

476


294
EBITDA (1)

293


(451)
Stock-based compensation

518


272
Adjusted EBITDA (1)
$811

$(179)
Reconciliation of Net Cash (Used in) Provided by Operating Activities to EBITDA







Net cash (used in) provided by operating activities
$(1,346)

$4,068
Stock-based compensation

(518)


(272)
Provision for inventory obsolescence

—


(15)
Changes in accounts receivable

3,944


(3,985)
Taxes paid, net of refunds

411


80
Changes in inventory

(172)


(282)
Changes in accounts payable, accrued expenses and other current liabilities, deferred revenue
and customer deposits

(1,505)


(143)
Changes in prepaid expenses and other current and long-term assets

(521)


92
Other

—


6
EBITDA (1)
$293

$(451)




1.EBITDA and Adjusted EBITDA are non-GAAP financial measures. EBITDA is defined as net income before (a) interest income and interest expense, (b) provision for (or benefit from) income taxes and (c) depreciation and amortization. Adjusted EBITDA excludes non-cash foreign exchange gains and losses, stock-based compensation, impairment of intangible assets and other non-cash tax related items. We consider EBITDA and Adjusted EBITDA to be important indicators for the performance of our business, but not measures of performance or liquidity calculated in accordance with GAAP. We have included these non-GAAP financial measures because management utilizes this information for assessing our performance and liquidity, and as indicators of our ability to make capital expenditures, service debt and finance working capital requirements and we believe that EBITDA and Adjusted EBITDA are measurements that are commonly used by analysts and some investors in evaluating the performance and liquidity of companies such as us. In particular, we believe that it is useful to our analysts and investors to understand this relationship because it excludes transactions not related to our core cash operating activities. We believe that excluding these transactions allows investors to meaningfully trend and analyze the performance of our core cash operations. EBITDA and Adjusted EBITDA are not measures of financial performance or liquidity under GAAP and should not be considered in isolation or as alternatives to cash flow from operating activities or as alternatives to net income as indicators of operating performance or any other measures of performance derived in accordance with GAAP. In evaluating our performance as measured by EBITDA, management recognizes and considers the limitations of this measurement. EBITDA and Adjusted EBITDA do not reflect our obligations for the payment of income taxes, interest expense or other obligations such as capital expenditures. Accordingly, EBITDA and Adjusted EBITDA are only two of the measurements that management utilizes. Other companies in our industry may calculate EBITDA or Adjusted EBITDA differently than we do and EBITDA and Adjusted EBITDA may not be comparable with similarly titled measures reported by other companies. Contacts:Rob Capps, President & CEO

MIND Technology, Inc.

281-353-4475




Ken Dennard / Zach Vaughan

Dennard Lascar Investor Relations

713-529-6600

MIND@dennardlascar.com 
  View original content:https://www.prnewswire.com/news-releases/mind-technology-inc-reports-fiscal-2027-first-quarter-results-302797087.htmlSOURCE MIND Technology, Inc. Original: MIND TECHNOLOGY, INC. REPORTS FISCAL 2027 FIRST QUARTER RESULTS

MIND Technology Announces Fiscal 2027 First Quarter Earnings Release and Conference Call ScheduleMay 28, 2026 4:15 PM
PR Newswire (US) THE WOODLANDS, Texas, May 28, 2026 /PRNewswire/ -- MIND Technology, Inc. (NASDAQ: MIND) announced today that it will release financial results for its fiscal 2027 first quarter ended April 30, 2026 after the market closes on Wednesday, June 10, 2026. In conjunction with the release, the Company has scheduled a conference call, which will be broadcast live over the Internet, for Thursday, June 11th at 9:00 a.m. Eastern Time / 8:00 a.m. Central Time. What:MIND Technology Fiscal 2027 First Quarter Earnings Conference Call

When:Thursday, June 11, 2026 at 9:00 a.m. Eastern / 8:00 a.m. Central

How:Live via phone -- By dialing (412) 902-0030 and asking for the MIND
Technology call at least 10 minutes prior to the start time, or
Live over the Internet -- By logging onto the web at the address below

Where:http://mind-technology.com/For those who cannot listen to the live call, a replay will be available through June 18, 2026 and may be accessed by dialing (201) 612-7415 and using pass code 13760778#.  Also, an archive of the webcast will be available shortly after the call at http://mind-technology.com/ for 90 days.  For more information, please contact Dennard Lascar Investor Relations at MIND@dennardlascar.com.About MIND Technology MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit designs, manufactures and sells specialized, high performance, marine exploration and survey equipment. Contacts:Rob Capps, President & CEO
MIND Technology, Inc.
281-353-4475


Ken Dennard / Zach Vaughan
Dennard Lascar Investor Relations
713-529-6600
MIND@dennardlascar.com   View original content:https://www.prnewswire.com/news-releases/mind-technology-announces-fiscal-2027-first-quarter-earnings-release-and-conference-call-schedule-302784854.htmlSOURCE MIND Technology, Inc. Original: MIND Technology Announces Fiscal 2027 First Quarter Earnings Release and Conference Call Schedule

MIND TECHNOLOGY, INC. REPORTS FISCAL 2026 FOURTH QUARTER AND YEAR-END RESULTSApril 15, 2026 4:15 PM
PR Newswire (US)

THE WOODLANDS, Texas, April 15, 2026 /PRNewswire/ -- MIND Technology, Inc. (NASDAQ: MIND) ("MIND" or the "Company") today announced financial results for its fiscal 2026 fourth quarter and year ended January 31, 2026.Revenues for the fourth quarter of fiscal 2026 were approximately $9.8 million compared to $9.7 million for the third quarter of fiscal 2026 and $15.0 million for the fourth quarter of fiscal 2025.The Company reported operating income of approximately $78,000 for the fourth quarter of fiscal 2026 compared to $774,000 for the third quarter of fiscal 2026 and $2.8 million for the fourth quarter of fiscal 2025. For the full year of fiscal 2026 the Company reported operating income of approximately $2.9 million compared to $6.8 million in fiscal 2025. Net loss for the fourth quarter of fiscal 2026 amounted to approximately $271,000, or a loss of $0.03 per share, compared to net income of $62,000, or $0.01 per share, for the third quarter of fiscal 2026 and $2.0 million, or $0.25 per share, for the fourth quarter of fiscal 2025. In computing net income (loss) per common share, approximately 9,040,000 shares were outstanding for the fourth quarter of fiscal 2026, compared to approximately 8,046,000 shares for the third quarter of fiscal 2026, and 7,969,000 shares during the fourth quarter of fiscal 2025.Adjusted EBITDA for the fourth quarter of fiscal 2026 was approximately $1.1 million compared to $1.3 million for the third quarter of fiscal 2026 and $3.0 million for the fourth quarter of fiscal 2025. Adjusted EBITDA, which is a non-GAAP measure, is defined and reconciled to reported net income (loss) and cash provided by (used in) operating activities in the accompanying financial tables. These are the most directly comparable financial measures calculated and presented in accordance with United States generally accepted accounting principles, or GAAP.The backlog of Marine Technology Product orders related to our Seamap segment was approximately $13.9 million as of January 31, 2026 compared to $7.2 million at October 31, 2025 and $16.2 million at January 31, 2025.Rob Capps, MIND's President and Chief Executive Officer, stated, "Despite lower operating income and a small net loss for the fourth quarter, our overall performance in fiscal 2026 demonstrates MIND's ability to deliver favorable results amid an uncertain and evolving macro environment. We generated another year of meaningful cash flow from operations and positive earnings and Adjusted EBITDA, supported by disciplined operational execution and our ability to capitalize on pockets of demand. While uncertainty has persisted across our markets, Seamap revenues remain elevated relative to historical levels and were flat sequentially with the third quarter."Although overall customer interest and engagement remain positive, we have seen customers defer order commitments for larger systems due to economic uncertainty and geopolitical turmoil. Pauses like this are not uncommon in periods of economic uncertainty. However, based on historical experience we view this pause as a short-term disruption."I believe MIND is well positioned to capitalize on opportunities as they emerge across our end markets. Our capital allocation strategy remains centered on adding accretive scale, expanding our offerings, and enhancing stockholder value. With this in mind, we have several levers we can pull, including mergers and acquisitions, investments in organic initiatives such as expanding existing product lines, and strategic partnerships. These provide us with flexibility to address our scale and promote growth by allocating capital to the areas that present the most compelling returns."Looking ahead, we expect our results for fiscal 2027 to be down when compared to fiscal 2026. Despite this view, we expect to maintain positive cash flow and intend to leverage our enhanced liquidity, which includes cash on hand of approximately $19.1 million, to position MIND for improved financial results as market conditions stabilize. We continue to benefit from a differentiated, market-leading suite of products, a strong balance sheet and efficient capital structure. The work we have done in recent years to strengthen the Company and establish a solid foundation will prove invaluable as we navigate near-term headwinds and drive meaningful long-term value for our stakeholders in future periods," concluded Capps.CONFERENCE CALLManagement has scheduled a conference call for Thursday, April 16, 2026 at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) to discuss the Company's fiscal 2026 fourth quarter results. To access the call, please dial (412) 902-0030 and ask for the MIND Technology call at least 10 minutes prior to the start time. Investors may also listen to the conference live on the MIND Technology website, http://mind-technology.com, by logging onto the site and clicking "Investor Relations". A telephonic replay of the conference call will be available through April 23, 2026, and may be accessed by calling (201) 612-7415 and using passcode 13759180#.  A webcast archive will also be available at http://mind-technology.com shortly after the call and will be accessible for approximately 90 days. For more information, please contact Dennard Lascar Investor Relations by email at MIND@dennardlascar.com.ABOUT MIND TECHNOLOGYMIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit designs, manufactures and sells specialized, high performance, marine exploration and survey equipment. Forward-looking StatementsCertain statements and information in this press release concerning results for the quarter and year ended January 31, 2026 may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, and our objectives for future operations, are forward-looking statements. The words "believe," "expect," "anticipate," "plan," "intend," "should," "would," "could" or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature.  These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us.  While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate.  All comments concerning our expectations for future revenues and operating results are based on our forecasts of our existing operations and do not include the potential impact of any future acquisitions or dispositions.  Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, without limitation, reductions in our customers' capital budgets, our own capital budget, limitations on the availability of capital or higher costs of capital, and volatility in commodity prices for oil and natural gas.For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof.  We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, unless required by law, whether as a result of new information, future events or otherwise. All forward-looking statements included in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to herein.Non-GAAP Financial MeasuresCertain statements and information in this press release contain non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with United States generally accepted accounting principles, or GAAP.  Company management believes that these non-GAAP financial measures, when considered together with the GAAP financial measures, provide information that is useful to investors in understanding period-over-period operating results separate and apart from items that may, or could, have a disproportionately positive or negative impact on results in any particular period. Company management also believes that these non-GAAP financial measures enhance the ability of investors to analyze the Company's business trends and to understand the Company's performance. In addition, the Company may utilize non-GAAP financial measures as guides in its forecasting, budgeting, and long-term planning processes and to measure operating performance for some management compensation purposes. Any analysis of non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP. Adjusted EBITDA, which is a non-GAAP measure, is defined and reconciled to reported net income from continuing operations and cash used in operating activities in the accompanying financial tables. These are the most directly comparable financial measures calculated and presented in accordance with United States generally accepted accounting principles, or GAAP.Reconciliation of Backlog, which is a non-GAAP financial measure, is not included in this press release due to the inherent difficulty and impracticality of quantifying certain amounts that would be required to calculate the most directly comparable GAAP financial measures.   MIND TECHNOLOGY, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, except per share data)(unaudited)


January 31,


2026

2025
ASSETS
Current assets:







Cash and cash equivalents
$19,050

$5,336
Accounts receivable, net of allowance for credit losses of $332 at January 31, 2026 and 2025                         

12,570


11,817
Inventories, net

11,150


13,745
Prepaid expenses and other current assets

2,114


1,217
Total current assets

44,884


32,115
Property and equipment, net

1,235


890
Operating lease right-of-use assets

1,092


1,320
Intangible assets, net

1,753


2,308
Deferred tax asset

302


87
Total assets
$49,266

$36,720
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:







Accounts payable
$1,214

$2,558
Deferred revenue

320


189
Customer deposits

971


1,603
Accrued expenses and other current liabilities

1,596


1,245
Income taxes payable

2,656


2,473
Operating lease liabilities - current

686


577
Total current liabilities

7,443


8,645
Operating lease liabilities - non-current

406


743
Total liabilities

7,849


9,388
Stockholders' equity:              Preferred stock, $1.0 par value; 2,000 shares authorized; no shares issued and              and outstanding at January 31, 2026 and 2025, respectively

-


-
Common stock, $0.01 par value; 40,000 shares authorized; 9,089 and 7,969 shares issued and outstanding at January 31, 2026 and 2025, respectively

91


80
Additional paid-in capital

148,990


135,666
Accumulated deficit

(107,698)


(108,448)
Accumulated other comprehensive gain

34


34
Total stockholders' equity

41,417


27,332
Total liabilities and stockholders' equity
$49,266

$36,720
  MIND TECHNOLOGY, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share data)(unaudited)


For the Three Months Ended January 31,

For the Twelve Months Ended January 31,


2026

2025

2026

2025
Revenues:















Sale of marine technology products
$9,796

$15,044

$40,947

$46,863
Cost of sales:















Sale of marine technology products

5,805


8,494


22,283


25,896
Gross profit

3,991


6,550


18,664


20,967
Operating expenses:















Selling, general and administrative

3,305


2,986


13,347


11,291
Research and development

389


562


1,586


1,914
Depreciation and amortization

219


220


873


944
Total operating expenses

3,913


3,768


15,806


14,149
Operating income

78


2,782


2,858


6,818
Other income (expense):















Other income (expense), net

122


(80)


43


240
Other (expense) income

122


(80)


43


240
Income before income taxes

200


2,702


2,901


7,058
Provision for income taxes

(471)


(671)


(2,151)


(1,984)
Net (loss) income
$(271)

$2,031

$750

$5,074
Gain on Preferred Stock conversion
$—

$—

$—

$14,785
Preferred stock dividends - undeclared

—


—


—


(2,256)
Net (loss) income attributable to common stockholders
$(271)

$2,031

$750

$17,603

















Net (loss) income per common share - Basic and diluted
$(0.03)

$0.25

$0.09

$4.32
Shares used in computing (loss) income per common share:















Basic

9,040


7,969


8,258


4,078
Diluted

9,040


7,969


8,328


4,078
 MIND TECHNOLOGY, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)(unaudited)


Year Ended January 31,


2026

2025
Cash flows from operating activities:







Net income
$750

$5,074
Adjustments to reconcile net income to net cash provided by operating activities:                         







Depreciation and amortization

873


944
Stock-based compensation

1,550


235
Provision for inventory obsolescence

227


68
Gross profit from sale of other equipment

—


(457)
Deferred tax expense (benefit)

(215)


35
Changes in:







Accounts receivable

(735)


(5,246)
Unbilled revenue

(20)


(7)
Inventories

2,366


(441)
Income taxes receivable and payable

183


360
Accounts payable, accrued expenses and other current liabilities

(1,999)


45
Prepaid expenses and other current and long-term assets

(895)


1,897
Deferred revenue and customer deposits

501


(1,856)
Net cash provided by operating activities

2,586


651
Cash flows from investing activities:







Purchases of property and equipment

(663)


(437)
Sale of other assets

—


457
Net cash (used in) provided by investing activities

(663)


20
Cash flows from financing activities:







Preferred stock conversion transaction costs

—


(619)
Proceeds from issuance of common stock, net

11,785


—
Net cash provided by (used in) financing activities

11,785


(619)
Effect of changes in foreign exchange rates on cash and cash equivalents

6


(5)
Net increase in cash and cash equivalents

13,714


47
Cash and cash equivalents, beginning of period

5,336


5,289
Cash and cash equivalents, end of period
$19,050

$5,336
  MIND TECHNOLOGY, INC.Reconciliation of Net (Loss) Income and Net Cash Provided By (Used In) Operating Activities to EBITDA andAdjusted EBITDA (in thousands)(unaudited)


For the Three Months Ended January 31,

For the Twelve Months Ended January 31,


2026

2025

2026

2025


(in thousands)

(in thousands)
Reconciliation of Net (Loss) Income to EBITDA and Adjusted EBITDA 















Net (loss) income
$(271)

$2,031

$750

$5,074
Depreciation and amortization

219


220


873


944
Provision for income taxes

471


671


2,151


1,984
EBITDA

419


2,922


3,774


8,002
Stock-based compensation

714


95


1,550


235
Adjusted EBITDA (1)
$1,133

$3,017

$5,324

$8,237
Reconciliation of Net Cash Provided by (Used In) Operating Activities to EBITDA















Net cash (used in) provided by operating activities
$(1,217)

$2,058

$2,586

$651
Stock-based compensation

(714)


(95)


(1,550)


(235)
Provision for inventory obsolescence

(182)


(1)


(227)


(68)
Changes in accounts receivable (current and long-term)

1,963


2,411


755


5,253
Taxes paid, net of refunds

299


243


2,202


1,654
Gain on sale of other equipment

—


—


—


457
Changes in inventory

(389)


(3,503)


(2,366)


441
Changes in accounts payable, accrued expenses, other current liabilities, deferred revenue, and customer deposits

(389)


1,621


1,498


1,811
Changes in prepaid expenses and other current and long-term assets

1,040


179


895


(1,897)
Other

(1)


9


(19)


(65)
EBITDA (1)
$419

$2,922

$3,774

$8,002




1.EBITDA and Adjusted EBITDA are non-GAAP financial measures. EBITDA is defined as net income before (a) interest income and interest expense, (b) provision for (or benefit from) income taxes and (c) depreciation and amortization. Adjusted EBITDA excludes non-cash foreign exchange gains and losses, stock-based compensation, impairment of intangible assets, and other non-cash tax related items. We consider EBITDA and Adjusted EBITDA to be important indicators for the performance of our business, but not measures of performance or liquidity calculated in accordance with GAAP. We have included these non-GAAP financial measures because management utilizes this information for assessing our performance and liquidity, and as indicators of our ability to make capital expenditures, service debt and finance working capital requirements and we believe that EBITDA and Adjusted EBITDA are measurements that are commonly used by analysts and some investors in evaluating the performance and liquidity of companies such as us. In particular, we believe that it is useful to our analysts and investors to understand this relationship because it excludes transactions not related to our core cash operating activities. We believe that excluding these transactions allows investors to meaningfully trend and analyze the performance of our core cash operations. EBITDA and Adjusted EBITDA are not measures of financial performance or liquidity under GAAP and should not be considered in isolation or as alternatives to cash flow from operating activities or net income as indicators of operating performance or any other measures of performance derived in accordance with GAAP. In evaluating our performance as measured by EBITDA, management recognizes and considers the limitations of this measurement. EBITDA and Adjusted EBITDA do not reflect our obligations for the payment of income taxes, interest expense or other obligations such as capital expenditures. Accordingly, EBITDA and Adjusted EBITDA are only two of the measurements that management utilizes. Other companies in our industry may calculate EBITDA or Adjusted EBITDA differently than we do and EBITDA and Adjusted EBITDA may not be comparable with similarly titled measures reported by other companies. Contacts:
Rob Capps, President & CEOMIND Technology, Inc.281-353-4475




Ken Dennard / Zach VaughanDennard Lascar Investor Relations713-529-6600MIND@dennardlascar.com



View original content:https://www.prnewswire.com/news-releases/mind-technology-inc-reports-fiscal-2026-fourth-quarter-and-year-end-results-302743666.htmlSOURCE MIND Technology, Inc.

Original: MIND TECHNOLOGY, INC. REPORTS FISCAL 2026 FOURTH QUARTER AND YEAR-END RESULTS

MIND Technology Announces Fiscal 2026 Fourth Quarter and Year-End Earnings Release and Conference Call ScheduleApril 1, 2026 4:15 PM
PR Newswire (US)

THE WOODLANDS, Texas, April 1, 2026 /PRNewswire/ -- MIND Technology, Inc. (NASDAQ: MIND) announced today that it will release financial results for its fiscal 2026 fourth quarter and full year ended January 31, 2026 after the market closes on Wednesday, April 15, 2026. In conjunction with the release, the Company has scheduled a conference call, which will be broadcast live over the Internet, for Thursday, April 16th at 9:00 a.m. Eastern Time / 8:00 a.m. Central Time.What:    MIND Technology Fiscal 2026 Fourth Quarter and Year-End Earnings Conference CallWhen:   Thursday, April 16, 2026 at 9:00 a.m. Eastern / 8:00 a.m. CentralHow:     Live via phone -- By dialing (412) 902-0030 and asking for the MIND
             Technology call at least 10 minutes prior to the start time, or
              Live over the Internet -- By logging onto the web at the address belowWhere:  http://mind-technology.com/For those who cannot listen to the live call, a replay will be available through April 23, 2026 and may be accessed by dialing (201) 612-7415 and using pass code 13759180#.  Also, an archive of the webcast will be available shortly after the call at http://mind-technology.com/ for 90 days.  For more information, please contact Dennard Lascar Investor Relations at MIND@dennardlascar.com.About MIND Technology MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit designs, manufactures and sells specialized, high performance, marine exploration and survey equipment. Contacts:         Rob Capps, President & CEO
MIND Technology, Inc.
281-353-4475


Ken Dennard / Zach Vaughan
Dennard Lascar Investor Relations
713-529-6600
MIND@dennardlascar.com   



View original content:https://www.prnewswire.com/news-releases/mind-technology-announces-fiscal-2026-fourth-quarter-and-year-end-earnings-release-and-conference-call-schedule-302730046.htmlSOURCE MIND Technology, Inc.

Original: MIND Technology Announces Fiscal 2026 Fourth Quarter and Year-End Earnings Release and Conference Call Schedule

MIND reports Tuesday 6/10 according to Seeking Alpha

OVERBOUGHT

Trend:   Any insights? 

i dont see a reason to sell. its breaking out

MIND ALL OUT

MIND BREAK ING 8 BUCKS

MIND READY FOR 7 BUCKS

MIND BEAUTY WEEKLY BREAK...AMAZING COMPANY

market goes down MIND goes UP lol

HOLY SHIT BALLS...THOUGHT THIS WAS A BIO COMPANY....WHAT A DISASTER MISS

that chart looking juicy

MIND.........................................https://stockcharts.com/h-sc/ui?s=MIND&p=W&b=5&g=0&id=p86431144783

Playing some MIND games $5.28 + 25% nice low floater 

MIND, 10Q due DEC 10

MIND Technology Announces Source Controller Orders (9/23/24)

THE WOODLANDS, Texas, Sept. 23, 2024 /PRNewswire/ -- MIND Technology, Inc. ("MIND" or the "Company") (Nasdaq: MIND) announced today that its Seamap unit has received an order for a GunLink source controller amounting to approximately $5.1 million. Subsequent to July 31, 2024, the Company has received orders totaling approximately $7.9 million.

Mark Welker, Vice President of MIND and Seamap Managing Director, stated, "We are seeing strong demand for our GunLink source controllers. These most recent orders indicate the continuing demand across our family of source controller products. We expect to deliver a portion of these orders in this fiscal year; however, the majority will be delivered in our next fiscal year. In addition to the orders that we have in hand, we are pursuing a number of significant opportunities that we expect to bring to fruition in the coming weeks and months. We think our continuing backlog and pipeline of business bodes well for the balance of this fiscal year and next year as well."

About MIND Technology

MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit designs, manufactures and sells specialized, high performance, marine exploration and survey equipment.

www.prnewswire.com/news-releases/mind-technology-announces-source-controller-orders-302254449.html

Mind Technology, Inc. Reports Fiscal 2025 Second Quarter Results (9/11/24)

THE WOODLANDS, Texas, Sept. 11, 2024 /PRNewswire/ -- MIND Technology, Inc. (NASDAQ: MIND) ("MIND" or the "Company") today announced financial results for its fiscal 2025 second quarter ended July 31, 2024.

Revenues from continuing operations for the second quarter of fiscal 2025 were approximately $10.0 million compared to approximately $7.6 million in the second quarter of fiscal 2024. The Company reported operating income from continuing operations of approximately $1.4 million for the second quarter of fiscal 2025 compared to an operating loss of $767,000 for the second quarter of fiscal 2024. Net income for the second quarter of fiscal 2025 amounted to $798,000 compared to a loss of approximately $1.5 million in the second quarter of fiscal 2024. Second quarter of fiscal 2025 net loss attributable to common shareholders (after declared and undeclared preferred stock dividends) was $149,000, or a loss of $0.11 per share compared to a loss of approximately $2.4 million, or a loss of $1.74 per share in the second quarter last year. Adjusted EBITDA from continuing operations for the second quarter of fiscal 2025 was approximately $1.8 million compared to a loss of $120,000 in the second quarter of fiscal 2024.

Adjusted EBITDA from continuing operations, which is a non-GAAP measure, is defined and reconciled to reported net income (loss) from continuing operations and cash used in operating activities in the accompanying financial tables. These are the most directly comparable financial measures calculated and presented in accordance with United States generally accepted accounting principles, or GAAP.

The backlog of Marine Technology Products related to our Seamap segment as of July 31, 2024 was approximately $26.2 million compared to approximately $17.0 million at July 31, 2023.

Rob Capps, MIND's President and Chief Executive Officer, stated, "We delivered positive results for our fiscal second quarter that were in line with our expectations and achieved further operational efficiencies that drove margin improvement. In addition to streamlining our operations and narrowing our strategic focus with the sale of Klein, we have been able to implement various cost containment initiatives that have meaningfully enhanced our financial results over the last twelve months. Our backlog remains strong, and is over 50% above the year ago amount. Furthermore, our pipeline of pending orders and prospects is also strong, with over $6 million of orders having been added since quarter end or that we expect shortly. This activity and ongoing discussions regarding other pending orders demonstrate the significant customer demand we are seeing across our differentiated product lines.

"Given our enhanced cost structure, current visibility, and robust customer engagement, we fully expect to achieve year-over-year revenue growth, positive Adjusted EBITDA and greater full year profitability in fiscal 2025.

"As announced last week, we have completed the conversion of our preferred stock to common stock. This is an important step for MIND. It simplifies our capital structure and, in my opinion, sets the stage for creating meaningful stockholder value," concluded Capps.

CONFERENCE CALL

Management has scheduled a conference call for Thursday, September 12, 2024 at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) to discuss the Company's fiscal 2025 second quarter results. To access the call, please dial (412) 902-0030 and ask for the MIND Technology call at least 10 minutes prior to the start time. Investors may also listen to the conference call live on the MIND Technology website, http://mind-technology.com, by logging onto the site and clicking "Investor Relations". A telephonic replay of the conference call will be available through September 19, 2024 and may be accessed by calling (201) 612-7415 and using passcode 13748560#. A webcast archive will also be available at http://mind-technology.com shortly after the call and will be accessible for approximately 90 days. For more information, please contact Dennard Lascar Investor Relations by email at MIND@dennardlascar.com.

ABOUT MIND TECHNOLOGY

MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit designs, manufactures, and sells specialized, high performance, marine exploration and survey equipment.

https://www.prnewswire.com/news-releases/mind-technology-inc-reports-fiscal-2025-second-quarter-results-302245348.html

MIND Technology Announces Approval of Preferred Stock Proposal (8/29/24)

THE WOODLANDS, Texas, Aug. 29, 2024 /PRNewswire/ -- MIND Technology, Inc. ("MIND" or the "Company") (Nasdaq: MIND; MINDP) reconvened its virtual special meeting (the "Special Meeting") of holders of its 9% Series A Cumulative Preferred Stock (the "Preferred Stock") today at 9:00 a.m., Central Time. The Special Meeting was held to approve an amendment to the Certificate of Designations, Preferences and Rights of the Preferred Stock, which provides that each share of Preferred Stock may be converted into 3.9 shares of the Company's common stock, $0.01 par value per share, at the sole discretion of the Company's Board of Directors (the "Preferred Stock Proposal"). At the reconvened meeting, the votes in favor of the Preferred Stock Proposal represented more than two-thirds of the outstanding shares of Preferred Stock and therefore the proposal was approved.

With the passage of the Preferred Stock Proposal, the Company's Board of Directors may effect the conversion of the Preferred Stock into common stock by filing the amendment to the Certificate of Designations, Preferences and Rights of the Preferred Stock with the Delaware Secretary of State at any time prior to October 31, 2024. The Company expects its Board of Directors to consider the merits of the conversion and act promptly.

Rob Capps, President and CEO of MIND, stated, "This approval is an important and exciting step for MIND. I believe the conversion, should the Board choose to effect it, will provide much needed flexibility which will enable us to provide meaningful value to all our stakeholders. We appreciate the strong support we received from our preferred stockholders. Of the votes received, approximately 89% were in favor of the proposal," concluded Capps.

About MIND Technology

MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit designs, manufactures, and sells specialized, high performance, marine exploration and survey equipment.

https://www.prnewswire.com/news-releases/mind-technology-announces-approval-of-preferred-stock-proposal-302234114.html

MIND Technology Reminds Preferred Stockholders To Vote Proxies (8/05/24)

THE WOODLANDS, Texas, Aug. 5, 2024 /PRNewswire/ -- MIND Technology, Inc. ("MIND" or the "Company") (Nasdaq: MIND; MINDP) will reconvene its virtual special meeting (the "Special Meeting") of holders of its 9% Series A Cumulative Preferred Stock (the "Preferred Stock") on Thursday, August 29, 2024 at 9:00 a.m. Central Time. The Special Meeting is being held to approve an amendment to the Certificate of Designations, Preferences and Rights of the Preferred Stock, which provides that each share of Preferred Stock may be converted into 3.9 shares of the Company's common stock, $0.01 par value per share, at the sole discretion of the Company's Board of Directors (the "Preferred Stock Proposal"). Preferred stockholders have previously approved a proposal to adjourn the Special Meeting one or more times to give the Company's management additional time to solicit additional proxies to approve the Preferred Stock Proposal. Given the length of the adjournment, a new record date of Tuesday, July 16, 2024 was established for the Special Meeting.

The Company filed a revised proxy statement with the Securities and Exchange Commission (the "SEC") on July 22, 2024 and distributed such proxy to holders of record as of July 16, 2024 who will be eligible to vote at the Special Meeting. Previously voted proxies are no longer valid.

Rob Capps, President and CEO of MIND, stated, "We understand that the new meeting date creates some confusion since previously cast proxies are no longer valid and must be voted again. If you executed a proxy prior to July 16, 2024, that proxy is no longer valid, and you must vote again. If you have not yet received the revised proxy statement, please contact your broker or other nominee for instructions on how to vote. We encourage all holders of Preferred Stock as of July 16, 2024 to vote in favor of the Preferred Stock Proposal," concluded Capps.

You may obtain additional information from our information agent at the following:

Alliance Advisors, LLC
200 Broadacres Dr.
Bloomfield, NJ 07003
Call: 833-795-8497
E-mail: MIND@AllianceAdvisors.com

Additionally, you may find further information regarding the Preferred Stock Proposal on the Company's web site at the following:

PowerPoint Presentation (mind-technology.com)

About MIND Technology

MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit designs, manufactures, and sells specialized, high performance, marine exploration and survey equipment.

https://www.prnewswire.com/news-releases/mind-technology-reminds-preferred-stockholders-to-vote-proxies-302213199.html

MIND new 52 week low

MIND 10Q expected 6/10

MIND 10Q expected 5/28

Loaded here 4.19's.

Easy reversal setup.

$MIND - 👆 Up 6.6% Pre-Market/Current Price $0.68
Announced today that its Seamap unit has received orders totaling approximately $4.3 million for GunLink and BuoyLink systems

NEWS
MIND TECHNOLOGY, INC. REPORTS FISCAL 2024 FIRST QUARTER RESULTS
THE WOODLANDS, Texas, June 13, 2023 /PRNewswire/ -- MIND Technology, Inc. (NASDAQ: MIND) ("MIND" or the "Company") today announced financial results for its fiscal 2024 first quarter ended April 30, 2023.

Revenues from Marine Technology Products sales for the first quarter of fiscal 2024 were $12.6 million compared to $12.4 million in the fourth quarter of fiscal 2023 and $9.1 million in the first quarter of fiscal 2023.

The Company reported operating income of $289,000 for the first quarter of fiscal 2024 compared to losses of $221,000 in the fourth quarter of fiscal 2023 and approximately $2.5 million in the first quarter of fiscal 2023. The net loss (after income taxes) for the first quarter of fiscal 2024 was $240,000 compared to net income of $666,000 million in the fourth quarter of fiscal 2023 and a net loss of approximately $2.4 million in the first quarter of fiscal 2023. First quarter of fiscal 2024 net loss attributable to common shareholders was $0.09 per share compared to $0.02 in the fourth quarter of fiscal 2023 and $0.24 in the first quarter of fiscal 2023.

Adjusted EBITDA from continuing operations for the first quarter of fiscal 2024 was approximately $913,000 compared to $1.4 million in the fourth quarter of fiscal 2023 and a loss of $1.9 million in the first quarter of fiscal 2023. Adjusted EBITDA from continuing operations, which is a non-GAAP measure, is defined and reconciled to reported net income (loss) from continuing operations and cash used in operating activities in the accompanying financial tables. These are the most directly comparable financial measures calculated and presented in accordance with United States generally accepted accounting principles.

The backlog of Marine Technology Products as of April 30, 2023, was approximately $22.6 million compared to $20.7 million at January 31, 2023 and $13.4 million at April 30, 2022.

Rob Capps, MIND's President and Chief Executive Officer, stated, "We are pleased to report positive results for the second quarter in a row, having produced positive operating income and Adjusted EBITDA with significantly improved revenues year-over-year. Our first quarter revenues from continuing operations increased 39% year-over-year, with our Seamap segment making up a meaningful portion of that growth. I think it's noteworthy that we saw sequential improvement at the operating level. The sequential improvement in operating income was partially driven by an increase in gross margin to approximately 43% in the current quarter versus 36% in the prior quarter. Our backlog of $22.6 million was up over 68% from the $13.4 million we reported during the first quarter of fiscal 2023 and improved on a sequential basis, demonstrating the strong demand growth we continue to see in our key markets. Inquiry and bidding activity remain robust as we work to further expand our backlog. Our backlog reflects the continued positive momentum that we are experiencing in various markets, and we believe that our differentiated marine technology products are uniquely positioned to benefit from favorable market trends.

"As we progress throughout fiscal 2024, we continue to believe the positive trend for order flow will continue. Additionally, we believe the underlying market fundamentals are positive and those have contributed to the increase in order activity. The current geopolitical situation emphasizes the need for maritime security and other defense applications. The constructive pricing environment in the energy market is positive for our customers in that space. The trend towards renewable energy, such as wind farms, is a positive development for our marine survey customers. We plan to continue to execute our long-term strategic initiatives and position the Company to become a leading provider of innovative marine technology and products," concluded Capps.

CONFERENCE CALL

Management has scheduled a conference call for Wednesday, June 14, 2023 at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) to discuss the Company's fiscal 2024 first quarter results. To access the call, please dial (412) 902-0030 and ask for the MIND Technology call at least 10 minutes prior to the start time. Investors may also listen to the conference live on the MIND Technology website, http://mind-technology.com, by logging onto the site and clicking "Investor Relations." A telephonic replay of the conference call will be available through June 21, 2023 and may be accessed by calling (201) 612-7415 and using passcode 13739231#. A webcast archive will also be available at http://mind-technology.com shortly after the call and will be accessible for approximately 90 days. For more information, please contact Dennard Lascar Investor Relations by email at MIND@dennardlascar.com.

ABOUT MIND TECHNOLOGY

MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap and Klein units, design, manufacture and sell specialized, high performance, marine sonar and seismic equipment.

Forward-looking Statements

Certain statements and information in this press release concerning results for the quarter ended April 30, 2023 may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, and our objectives for future operations, are forward-looking statements. The words "believe," "expect," "anticipate," "plan," "intend," "should," "would," "could" or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. All comments concerning our expectations for future revenues and operating results are based on our forecasts of our existing operations and do not include the potential impact of any future acquisitions or dispositions. Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, without limitation, reductions in our customers' capital budgets, our own capital budget, limitations on the availability of capital or higher costs of capital, volatility in commodity prices for oil and natural gas and the extent of disruptions caused by the COVID-19 outbreak.

For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, unless required by law, whether as a result of new information, future events or otherwise. All forward-looking statements included in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to herein.

Non-GAAP Financial Measures

Certain statements and information in this press release contain non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with United States generally accepted accounting principles, or GAAP. Company management believes that these non-GAAP financial measures, when considered together with the GAAP financial measures, provide information that is useful to investors in understanding period-over-period operating

Navy contract

MIND: hear Biden wants to put windmills in water all along east coast could bring in MIND for instrument data?

$MIND MIND TECHNOLOGY provides technology to the oceanographic, hydrographic, defense, seismic and security industries through our Klein and Seamap product lines. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom.

https://mind-technology.com/

Rob Capps, $MIND's President and Chief Executive Officer, stated, "We saw notable improvement in the second quarter, with our results being primarily top-line driven. Total revenues increased 62% sequentially and were approximately 34% higher than the same period last year, and we expect to see further improvement during the remainder of this year as we complete our scheduled and expected orders. Inquiry and bidding activity continues to increase, including for our sonar products for use in military applications. As noted above, our backlog remains solid, roughly even with the first quarter backlog. Essentially all orders are expected to be delivered in the current fiscal year.

https://finance.yahoo.com/news/mind-technology-inc-reports-fiscal-205500367.html

$MIND Mind Technology Inc. (NASDAQ: MIND) Key player in Towed Array Sonar Market: Industry Outlook, Current Status, Supply-Demand, Growth Opportunities and Top Players Analysis 2028 https://www.marketwatch.com/press-release/towed-array-sonar-market-industry-outlook-current-status-supply-demand-growth-opportunities-and-top-players-analysis-2028-2021-09-14?reflink=mw_share_twitter

Good morning $MIND

MIND Technology Inc (MIND) 1.9663 +0.0194 (1.00%)
Volume: 105,571

$MIND Mind Technology Inc Conference Call will be broadcast live over the Internet Thursday September 9th at 9:00 a.m. Eastern Time / 8:00 a.m. Central Time

https://finance.yahoo.com/news/mind-technology-announces-fiscal-2022-202000199.html

$MIND the Company has scheduled a conference call, which will be broadcast live over the Internet, for Thursday, September 9th at 9:00 a.m. Eastern Time / 8:00 a.m. Central Time. https://finance.yahoo.com/news/mind-technology-announces-fiscal-2022-202000199.html

$MIND MIND Technology Announces Fiscal 2022 Second Quarter Earnings Release And Conference Call Schedule

https://finance.yahoo.com/news/mind-technology-announces-fiscal-2022-202000199.html

Good morning folks! $MIND

$MIND Technology Announces Fiscal 2022 Second Quarter Earnings Release And Conference Call Schedule https://finance.yahoo.com/news/mind-technology-announces-fiscal-2022-202000199.html

$3.11 nice

News: $MIND Mitcham Industries Partnership to Produce Synthetic Aperture Sonar Systems

THE WOODLANDS, Texas , July 14, 2020 /PRNewswire/ -- Mitcham Industries, Inc. (NASDAQ: MIND) ("Mitcham" or "the Company") today announced that it and its wholly-owned subsidiary, Klein Marine Systems, Inc. have entered into an agreement with a major European defense contractor to joi...

Got this from MIND - Mitcham Industries Partnership to Produce Synthetic Aperture Sonar Systems

Something on my MIND as 10.13 Mil float, up 60.9% on 2,752,234 traded is 20X average volume of 135,101 daily

Blowing my MIND with todays action

HMMM 20X Average Volume

Thanks for yet another popping pick #CharlesAstor @TraderBJones

I heard and read the mindmed this weekend and was interested. I have been fooling with penny and sub-penny stocks and doubt that anybody is making anything other than losing. However, being curious I ended up finding Mitcham Industries, Inc. (MIND) and started to look more into it.

Interesting, and kind of familiar type of highly speculative area. All just fun reading but I know many folks can be easily sucked into it losing big money instead of making profits.

News: $MIND Mitcham Industries to Present at the Noble Capital Markets' Fifteenth Annual Investor Conference

HUNTSVILLE, Texas , Jan. 22, 2019 /PRNewswire/ -- Mitcham Industries, Inc. ("Mitcham" or the "Company") (Nasdaq: MIND) announced today that its senior management will attend the Noble Capital Markets' Fifteenth Annual Investor Conference in Fort Lauderdale, Florida on January 28-2...

Got this from https://marketwirenews.com/news-releases/mitcham-industries-to-present-at-the-noble-capital-markets-fifteenth-annual-investor-conference-7414030.html