Mind Technology Inc ( (MIND) ) has released its Q3 earnings. Here is a breakdown of the information Mind Technology Inc presented to its investors.
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MIND Technology, Inc., headquartered in The Woodlands, Texas, is a global provider of high-performance marine exploration and survey equipment, serving industries such as oceanographic, hydrographic, defense, seismic, and security. The company operates through its Seamap unit and has key locations in the United States, Singapore, Malaysia, and the United Kingdom.
In its fiscal 2025 third-quarter earnings report, MIND Technology, Inc. reported significant year-over-year growth, with revenues from continuing operations reaching $12.1 million, a substantial increase from $5.0 million in the same period last year. The company also reported a net income of $1.3 million, a marked improvement from $568,000 in the previous year, demonstrating a strong turnaround from an operating loss of $1.5 million to an income of $1.9 million.
Key performance highlights include a reported adjusted EBITDA of $2.0 million, showing a significant recovery from a previous loss of $1.1 million. MIND Technology’s backlog of marine technology products remained stable at $26.2 million, indicating consistent demand. The company effectively balanced order deliveries with new orders, contributing to a 21% sequential revenue growth. Additionally, MIND Technology improved its cash flow, ending the quarter with $3.5 million in cash.
Looking ahead, MIND Technology’s management remains optimistic about future growth, supported by a robust backlog and a promising pipeline of new orders. The company anticipates continued positive financial results in upcoming quarters, driven by improved capital structure and a favorable business environment.
