MIND Technology, Inc. filings document current reports on operating results and financial condition, including 8-K disclosures furnished with earnings press releases and Regulation FD information. The filings also include non-GAAP financial measures with quantitative reconciliations to comparable GAAP measures.
For this marine technology issuer, the formal record centers on results reported for the Seamap business, revenue and order disclosures, conference-call materials, and risk-factor references associated with Annual Reports, Quarterly Reports and Current Reports.
MIND TECHNOLOGY, INC. (MIND) reported significantly weaker results for the quarter and six months ended July 31, 2026, as its Seamap marine technology business faced softer demand and project delays. Quarterly revenue fell to $5.6 million from $13.6 million a year earlier, producing a gross profit of $2.1 million and an operating loss of $1.8 million versus prior-year operating income of $2.7 million. Net loss was $1.7 million for the quarter and $2.1 million year-to-date, compared with net income of $1.9 million and $1.0 million in the prior-year periods.
Backlog of firm orders declined to $4.8 million at July 31, 2026 from $13.9 million at January 31, 2026, and operating cash flow for the first half swung to an outflow of $3.1 million from an inflow of $2.9 million, largely due to increased accounts receivable. The company cited delayed customer payments tied to the war in Iran, with $12.6 million of affected receivables, $1.9 million of which has since been collected, and management expresses confidence in collecting the remainder. Despite the downturn, MIND reported working capital of about $36.7 million, including $15.8 million of cash, no interest-bearing debt, an unused $5.0 million trade finance facility, and an at-the-market equity program and authorized share repurchase plan available for future capital needs.
MIND Technology, Inc. (MIND) reported weak fiscal 2027 second-quarter results for the period ended July 31, 2026, as marine markets softened. Revenue was approximately $5.6 million, down from $9.7 million in the prior quarter and $13.6 million a year earlier. The company posted an operating loss of $1.8 million, versus operating income of $2.7 million in the prior-year quarter, and a net loss of $1.7 million or -$0.19 per share, compared with net income of $1.9 million or $0.24 per share a year ago.
Adjusted EBITDA was a loss of about $949,000, versus positive $3.1 million in the prior-year quarter. Backlog in the Seamap marine technology segment declined to $4.8 million from $7.6 million at April 30, 2026 and $12.8 million a year earlier. For the first six months, operating activities used $3.1 million of cash, compared with $2.9 million provided in the prior-year period. Management highlighted that aftermarket activity contributed about 87% of quarterly revenue and emphasized long-term demand drivers, while noting that project timing remains uncertain. MIND reported being debt-free and ended the quarter with $15.8 million in cash and stockholders’ equity of $40.3 million.
MIND Technology, Inc. reported that director Alan Perry Baden received a grant of 30,000 options to purchase MII Common Stock on July 29, 2026. The options have an exercise price of $4.77 per share, expire on July 29, 2036, and vest in three equal annual installments from 2027 through 2029.
MIND Technology, Inc. reported that CFO Mark Alan Cox received a grant of 50,000 options to purchase MII Common Stock at an exercise price of $4.7700 per share. These options expire on 2036-07-26 and vest in three equal annual installments from July 29, 2027 through July 29, 2029.
Mind Technology director Peter H. Blum received a grant of options to purchase 30,000 shares of MII Common Stock at an exercise price of $4.77 per share. The options vest in three equal annual installments beginning July 29, 2027 and expire on July 29, 2036, and are held directly.
Mind Technology, Inc. President and CEO Robert P. Capps received a grant of options to purchase 60,000 shares of MII Common Stock at an exercise price of $4.77 per share on July 29, 2026. These options vest in three equal annual installments on July 29, 2027, 2028, and 2029 and expire on July 26, 2036, leaving him holding options on 60,000 shares under this award.
MIND TECHNOLOGY, INC director Thomas S. Glanville received a grant of options to purchase 30,000 shares of MII Common Stock at an exercise price of $4.77 per share. The options expire on July 29, 2036 and vest in three equal installments on July 29 of 2027, 2028 and 2029, leaving him with 30,000 derivative securities reported after this award.
MIND Technology, Inc. director William Hunter Hilarides received a grant of options to purchase 30,000 shares of common stock at an exercise price of $4.77 per share. These options expire on July 29, 2036 and vest in three equal annual installments from July 29, 2027 through July 29, 2029.
MIND Technology, Inc. held its 2026 Virtual Annual Meeting of Stockholders on July 22, 2026. Stockholders re-elected five directors to the Board, with each nominee receiving more votes cast “for” than “withheld” and 3,479,078 broker non-votes recorded for each director.
Stockholders approved an amendment to the Amended and Restated Stock Awards Plan to add 400,000 shares authorized for issuance, by 1,242,540 votes for, 1,115,811 against, 53,886 abstentions and 3,479,078 broker non-votes. They also approved, on an advisory basis, Named Executive Officer compensation (1,243,941 for; 1,107,886 against; 60,410 abstentions; 3,479,078 broker non-votes) and ratified Baker Tilly US, LLP as independent registered public accounting firm for the fiscal year ending January 31, 2027 (5,539,605 for; 251,908 against; 99,804 abstentions; no broker non-votes).
MIND Technology reported stronger results for the three months ended April 30, 2026. Revenue rose to $9.7 million from $7.9 million, with gross margin steady at 42%, reflecting higher marine technology product sales.
The company generated operating income of about $14,000 versus a prior loss of $658,000, and reduced its net loss to $411,000 from $970,000. EBITDA turned positive at $293,000 and Adjusted EBITDA reached $811,000, helped by higher volumes and stock-based compensation add-backs.
Liquidity remains solid, with working capital of roughly $37.8 million and cash and equivalents of about $17.7 million. However, firm order backlog declined to $7.6 million from $13.9 million, and management expects fiscal 2027 revenue to decline compared with fiscal 2026 despite a generally optimistic long-term industry outlook.