MIND
MIND Technology, Inc.7.94
-0.15-1.85%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
FY Q4 '26
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
71.76MP/E (TTM)
-Basic EPS (TTM)
-1.17Dividend Yield
0%Recent Filings
10-Q
Q3 FY2026 results
MIND Technology posted Q3 FY2026 revenue of $9.7M, down 20% y/y from $12.1M yet holding gross margins steady at 47% thanks to aftermarket mix (55% of sales). Operating income fell to $774K from $1.9M y/y, clipped by higher SG&A from stock-based comp, while YTD revenue dipped 2% to $31.2M with op income at $2.8M versus $4.0M. Cash swelled to $19.4M on $3.8M operating cash flow and $10.8M ATM equity raise; free cash flow not disclosed in the 10-Q. No debt. Shares outstanding jumped post prior-year preferred conversion. Liquidity looks solid. Backlog sits at $7.2M. Supply chain disruptions pose risks.
8-K
Q3 revenues dip, but profitable
MIND Technology reported Q3 fiscal 2026 revenues of $9.7 million, down from $13.6 million in Q2 and $12.1 million a year ago, yet posted operating income of $774,000 and net income of $62,000. Seamap backlog hit $7.2 million at quarter-end but jumped with $9.5 million in new orders after. Cash swelled to $19.4 million. Q4 looks stronger.
10-Q
Q2 FY2026 results
MIND Technology's Q2 FY2026 revenue climbed 35% y/y to $13.6M, driven by strong Seamap Marine Products sales, while gross margin edged up to 50% from 48% on a favorable mix. Operating income rose 86% y/y to $2.7M, with diluted EPS at $0.24 versus a $0.11 loss last year, reflecting the prior year's preferred stock drag now eliminated post-conversion. YTD revenue grew 9% y/y to $21.5M, but operating income dipped 7% to $2.0M amid higher SG&A from restructuring and stock comp; net income held at $0.96M. Cash swelled to $7.8M on $2.9M operating inflows, minus $0.4M capex for free cash flow of $2.5M (derived), with no debt and $25.1M working capital. The Huntsville facility expansion wrapped up, poised to boost repairs. Yet supply chain disruptions could snag deliveries.
8-K
MIND Q2 profit surges
MIND Technology swung to profitability in its fiscal 2026 second quarter ended July 31, 2025, posting $13.6 million in revenues and $1.9 million net income, up sharply from the prior quarter's $7.9 million revenue and $970,000 loss. Operating income hit $2.7 million, with Adjusted EBITDA at $3.1 million—both reconciled to GAAP in the filing—fueled by stronger Seamap systems sales and after-market services comprising 68% of six-month revenues. Backlog dipped to $12.8 million from $21.1 million, yet the pipeline stays robust amid economic uncertainty. Management eyes steady customer engagement for the year ahead.
8-K
ATM and buyback programs launched
MIND Technology entered an equity distribution agreement on August 28, 2025, enabling sales of up to $25.0 million in common stock via at-the-market offerings through Lucid Capital Markets, with net proceeds earmarked for general corporate purposes like acquisitions and capital expenditures. Simultaneously, the board authorized a $4.0 million share repurchase program through August 31, 2027, using open market or negotiated buys. These moves position MIND to swiftly tap capital or boost shareholder value amid market shifts. Yet risks from oil price volatility loom large.
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