MIND Technology Q2 revenue falls to $5.6 million; net loss of $1.7 million
MIND Technology reported fiscal second-quarter revenue of about $5.6 million for the quarter ended July 31, 2026, down from $13.6 million a year earlier, and a net loss of about $1.7 million, or $0.19 per share, versus net income of $1.9 million, or $0.24 per share, a year earlier. The company said order flow is being hurt by macro uncertainty, and its marine technology product backlog fell to $4.8 million from $12.8 million at July 31, 2025.
Key points
- Revenue of about $5.6 million, versus $13.6 million in the second quarter of fiscal 2026 and $9.7 million in the first quarter of fiscal 2027
- Operating loss of about $1.8 million, versus operating income of $2.7 million a year earlier; Adjusted EBITDA loss of about $949,000, versus $3.1 million a year earlier
- Marine technology product backlog for the Seamap segment was $4.8 million at July 31, 2026, down from $12.8 million at July 31, 2025
- Company reported $15.8 million in cash and said it is debt-free; conference call scheduled for September 9, 2026 at 9:00 a.m. Eastern Time
The filing
Written by AI on Nov 9, 2026, 8:28 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 08, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.