Quarterly ResultJun 10, 2026, 04:32 PM
MIND Technology Q1 Revenue $9.7M, Net Loss $(0.05)/Share; Adj. EBITDA $811K
AI Summary
MIND Technology, Inc. reported fiscal 2027 first-quarter revenues of $9.7 million, a 22.8% increase year-over-year, with a net loss of $(0.05) per share, a significant improvement from $(0.12) per share in the prior year. The company achieved positive Adjusted EBITDA of $811,000, compared to a negative Adjusted EBITDA in the same quarter last year. Despite a strong improvement in profitability metrics, the backlog for Marine Technology Product orders decreased significantly to $7.6 million. Management noted near-term market uncertainty but expressed optimism for the long-term outlook of the marine exploration and survey market.
Key Highlights
- Revenues for Q1 FY27 were $9.7 million, up 22.8% from $7.9 million in Q1 FY26.
- Reported operating income of $14,000 in Q1 FY27, compared to a loss of $(658,000) in Q1 FY26.
- Net loss for Q1 FY27 was $(411,000), or $(0.05) per share, an improvement from $(970,000) or $(0.12) per share in Q1 FY26.
- Adjusted EBITDA for Q1 FY27 was $811,000, a significant improvement from $(179,000) in Q1 FY26.
- Backlog of Marine Technology Product orders was $7.6 million as of April 30, 2026, down from $21.1 million a year prior.
- After-market business contributed approximately 50% of total revenue in the recent quarter.
- A conference call to discuss results is scheduled for June 11, 2026, at 9:00 a.m. Eastern Time.
Price Impact
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