MIND Technology Announces Source Controller Orders

Rhea-AI Summary

MIND Technology (Nasdaq: MIND) said its Seamap unit received orders for GunLink source controllers and related equipment from an international seismic contractor. The aggregate order value is in excess of $9.5 million and is expected to be delivered in this fiscal year or early next year. Management said the orders had been pending while technical requirements were finalized and cited continued customer interest despite a recent temporary lull in order activity.

Positive

• Orders in excess of $9.5 million
• Deliveries expected this fiscal year or early next year
• Order from an international seismic contractor indicates overseas demand

Negative

• Company experienced a temporary lull in order activity
• Recent orders were pending while technical requirements were finalized

THE WOODLANDS, Texas, Dec. 2, 2025 /PRNewswire/ -- MIND Technology, Inc. ("MIND" or the "Company") (Nasdaq: MIND) announced today that its Seamap unit has received orders for GunLink source controllers and associated equipment from an international seismic contractor. The aggregate value of the orders, which are expected to be delivered in this fiscal year or early next year, is in excess of $9.5 million.

Mark Welker, Vice President of MIND and Seamap Managing Director, stated, "Despite a temporary lull in order activity, we continue to see strong interest in our source controllers and other products.  These most recent orders, which have been pending for some time as we finalized technical requirements, is good evidence of this continuing interest."

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. 

Forward-looking Statements

Certain statements and information in this press release 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, our objectives for future operations, future orders and anticipated delivery of existing orders, and future payments of dividends 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.

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.

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-source-controller-orders-302630789.html

SOURCE MIND Technology, Inc.

FAQ

What did MIND announce on December 2, 2025 about GunLink orders?

MIND announced Seamap received orders for GunLink source controllers totaling in excess of $9.5 million.

Who placed the GunLink source controller orders for MIND (MIND)?

An international seismic contractor placed the orders, per the announcement.

When will MIND deliver the GunLink orders announced December 2, 2025?

The orders are expected to be delivered this fiscal year or early next year.

Does the December 2, 2025 announcement say why orders were delayed?

Yes—orders had been pending while technical requirements were finalized.

How does MIND describe demand for its source controllers in the announcement?

Management said there is continued interest in source controllers despite a temporary lull in activity.

What is the ticker symbol for MIND Technology referenced in the December 2, 2025 news?

The ticker symbol is MIND on Nasdaq.