Earnings ·
MIND Technology, Inc. reported financial results for its fiscal second quarter ended July 31, 2026
MINDMind Technology, Inc
MIND Technology, Inc. reported financial results for its fiscal second quarter ended July 31, 2026. Revenues declined to approximately $5.6 million 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 and a net loss of $1.7 million, or $0.19 per share, compared to net income of $1.9 million, or $0.24 per share, in the second quarter of fiscal 2026. Adjusted EBITDA turned negative at a loss of approximately $949,000 versus an adjusted EBITDA profit of $3.1 million in the prior year period. Backlog for marine technology products decreased to $4.8 million from $7.6 million at the end of the first quarter and $12.8 million a year ago. The company operates in the oceanographic, hydrographic, defense, seismic, and security industries.