MIND News & Events

New records highs in the S&P 500 and Nasdaq Composite indices - along with a retreat in the Vix index to the lowest level since the start of the U.S.-Iran conflict - suggest that investors are looking through the geopolitical uncertainty.  Instead, with more large banks reporting constructive results, including Morgan Stanley'sQ1 beat this morning that sent the stock to all-time highs, the markets are positioning for further risk-on flows.  Tech was the standout sector on Wednesday, with beaten down Software names extending their strong performance this week, followed by Consumer Cyclicals and Communication Services, whereas Basic Materials and Industrials - areas of refuge throughout the AI disruption narrative - underperformed.In the opening hour of the evening session, U.S. equity futures are flat, though WTI Crude Oil remains under pressure near $90.  FT report of a potential ceasefire between Israel and Lebanon - a sticking point in the U.S.-Iran negotiation process - is continuing the theme of de-escalation in the Middle East.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -J.B. Huntup 1.8%ALSO HIGHER -CareDxup 8.4% after Q1 pre-announcement, Lab Products divestmentVoyager Technologiesup 8.1% after NASA order announcementPPG Industriesup 5.0% after positive Q1 pre-announcement, price increaseEuroseasup 2% after contract extension for EM KeaConagra Brandsup 1.0% on insider buying activityDOWN AFTER EARNINGS -MIND Technologydown 16.8%SL Green Realtydown 2.5%Home BancShares, Inc.down 1.4%ALSO LOWER -QuidelOrthodown 18.9% after below-consensus Q1 pre-announcementFord Motordown 1% after departure of EV executive

Reports Q4 revenue $9.8M vs. $9.7M last year. CEO Rob Capps stated, "Despite lower operating income and a small net loss for Q4, our overall performance in FY26 demonstrates MIND's ability to deliver favorable results amid an uncertain and evolving macro environment. We generated another year of meaningful cash flow from operations and positive earnings and Adjusted EBITDA, supported by disciplined operational execution and our ability to capitalize on pockets of demand. While uncertainty has persisted across our markets, Seamap revenues remain elevated relative to historical levels and were flat sequentially with Q3. Although overall customer interest and engagement remain positive, we have seen customers defer order commitments for larger systems due to economic uncertainty and geopolitical turmoil....I believe MIND is well positioned to capitalize on opportunities as they emerge across our end markets. ...Looking ahead, we expect our results for FY27 to be down when compared to FY26. Despite this view, we expect to maintain positive cash flow and intend to leverage our enhanced liquidity, which includes cash on hand of approximately $19.1M, to position MIND for improved financial results as market conditions stabilize..."

MIND Technology announced that its Seamap unit has entered into a trade finance facility with The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch for the issuance from time to time of letters of credit or bank guarantees. Rob Capps, President and CEO of MIND, "We are pleased to continue our long-standing relationship with HSBC Singapore. While there is no current utilization of this new facility, it does provide us with flexibility for future projects. From time to time we encounter project proposals, particularly from governmental organizations, that have certain bonding requirements. This new facility will allow us to respond efficiently and more economically to these potential projects."

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."