Earnings ·
MIND Technology reports Q2 revenue decline to $5.6 million from $9.7 million prior quarter
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.