MIND Reports Q3 Revenue of $9.7M, Down 20% YoY
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 09 2025
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Reports Q3 revenue $9.7M vs $12.1M last year. FY25 Q3 EPS was affected by the conversion of preferred stock into common stock. Reports backlog of Marine Technology Product orders related to our Seamap segment was approximately $7.2M as of October 31 compared to $12.8M at July 31. Rob Capps, MIND's President and CEO stated, "Our results for the Q3 were largely in line with our expectations. Although Seamap revenues moderated slightly from the second quarter, higher margin after-market activity was strong again this quarter and accounted for about 64% of our revenues in the first nine months of this fiscal year. This favorable after-market activity, along with our consistent execution, helped deliver another profitable quarter. Based on the anticipated delivery schedule of our backlog, recent and expected orders, we expect our Q4 to be improved from the Q3."
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About MIND
Mind Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. The Company offers marine technology products to marine survey, marine exploration, and maritime defense markets. The Company operates through one segment: Seamap Marine Products business, which is engaged in the design, manufacture and sale of specialized marine seismic equipment. Seamap’s primary products include the GunLink seismic source acquisition and control systems, which are designed to provide operators of marine seismic surveys more precise monitoring and control of energy sources; the BuoyLink relative global navigation satellite system (RGNSS) positioning system, which is used to provide precise positioning of marine seismic energy sources and streamers; Sleeve Gun energy sources and the SeaLink towed seismic streamer system. Applications for these technologies include marine seismic surveys related to energy exploration and alternative energy projects.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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