Mind Technology Inc Stock Price, News & Analysis

MIND Technology, Inc. (NASDAQ: MIND) announced on July 19, 2021, that its Seamap unit secured new orders worth approximately $4.1 million for source controller and GNSS positioning systems. Deliveries are set for the third and fourth quarters of the fiscal year. Co-CEO Guy Malden expressed optimism about the marine exploration market, noting strong demand for their marine source controller systems and anticipating further orders.

MIND Technology, Inc. has declared a cash dividend of $0.5625 per share on its 9.00% Series A Cumulative Preferred Stock for Q2 of the fiscal year ending January 31, 2022. This dividend is payable on July 31, 2021, to shareholders holding the stock as of July 15, 2021. MIND's Series A Preferred Stock trades under the ticker symbol MINDP.

The company focuses on marine technology solutions, operating primarily in Marine Exploration, Marine Survey, and Maritime Security, with a global presence.

MIND Technology, Inc. (NASDAQ: MIND) reported its fiscal 2022 first quarter financial results, showing revenues of $4.2 million, down from $6.4 million in Q4 2021 but up from $3.2 million in Q1 2021. The company faced a net loss of approximately $3.7 million, slightly worse than the $3.3 million loss in Q4 2021. Adjusted EBITDA also worsened to a loss of $3.0 million. Backlog decreased to $11.0 million from $14.2 million previously. Supply chain disruptions impacted deliveries, but MIND expects an increase in inquiries and possible $5 million in orders in Q2 2022. The company maintains a long-term goal of $140 million in revenue with a 20% EBITDA margin.

MIND Technology, Inc. (NASDAQ: MIND) will release its fiscal 2022 first quarter financial results after market close on June 2, 2021. A conference call is set for June 3, 2021, at 9:00 a.m. Eastern Time, allowing investors to discuss the results live. Both phone and internet options are available for participation. A replay will be accessible until June 10, 2021. MIND Technology provides advanced technology to various industries, showcasing its global presence through key operations worldwide.

MIND Technology, Inc. (MIND) reported financial results for Q4 and fiscal year 2021, with revenues of $6.4 million in Q4, down from $8.9 million in Q4 2020, and total annual revenues of $21.2 million, compared to $29.9 million in 2020. The company posted a net loss of $3.3 million for Q4, leading to an annual loss of $22.5 million (or $(1.30) per share). Despite challenges, MIND highlighted a record backlog of $14.2 million, a 73% increase from Q3. Looking ahead, MIND anticipates revenue growth in fiscal 2022, driven by increased orders and a new agreement with PGS.

MIND Technology, Inc. has declared a quarterly cash dividend of $0.5625 per share on its 9.00% Series A Cumulative Preferred Stock for Q1 of the fiscal year ending January 31, 2022. This dividend applies to the period from February 1, 2021 to April 30, 2021, payable on April 30, 2021, to shareholders on record as of the close of business on April 15, 2021. MINDP shares are listed on the Nasdaq, signifying the company's commitment to return income to its investors.

MIND Technology, Inc. (NASDAQ: MIND) will release its fiscal 2021 fourth quarter and full year financial results on April 12, 2021. The announcement will be followed by a conference call on April 13, 2021, at 9:00 a.m. Eastern Time. Investors can access the call live via phone or the Internet. A replay will be available until April 20, 2021. MIND Technology provides advanced technology solutions for various industries including oceanographic and defense sectors, and operates globally with facilities in the U.S., Singapore, Malaysia, and the U.K.

MIND Technology, Inc. (NASDAQ: MIND) announced a Master Supply Agreement with PGS for source controllers and related services. This agreement signals an expansion of their longstanding relationship, with MIND expecting to provide advanced source controller technology over the coming years. Currently, MIND's products include the GunLink and SourceLink systems utilized in PGS's fleet. MIND operates globally, providing technological solutions to various industries including defense and marine technology.

MIND Technology, Inc. (NASDAQ: MIND) has announced an agreement through its Seamap unit with an international seismic exploration company for the provision of two GunLink 4000 systems, valued at over $5.0 million. This order is expected to conclude within MIND's fiscal year ending January 31, 2022. Co-CEO Guy Malden emphasized this deal as a sign of improving marine exploration market activity, indicating that GunLink has become the preferred choice for seismic source controller technology.