Core Insights - MIND Technology, Inc. has seen a significant stock price increase of 45.2% since reporting its third-quarter fiscal 2025 earnings, outperforming the S&P 500 index which only changed by 1% during the same period [1] - The company reported a net income of $2.87 per share for the fiscal third quarter, a substantial improvement from a loss of 27 cents per share in the previous year, with revenues reaching $12.1 million, a 143% increase from $5 million in the prior-year period [2] - MIND's operating income turned positive at $1.9 million, reversing a loss of $1.5 million from the same quarter last year [2] Financial Performance - Net income for the quarter was $1.3 million, up from $0.6 million in the year-ago period, while adjusted EBITDA from continuing operations was $2 million, a significant increase from a loss of $1.1 million in the third quarter of fiscal 2024 [3] - The company's backlog for its Seamap segment was $26.2 million as of October 31, 2024, consistent with the previous quarter, and sequential revenue growth was recorded at 21% [4] Management Commentary - The president and CEO of MIND Technology attributed the strong results to strategic execution and favorable market dynamics, emphasizing the 21% sequential revenue growth and a focus on improving cost structures and operational efficiencies [5] - Management expressed optimism about sustaining profitability in upcoming quarters, supported by a robust pipeline of pending orders that exceeds twice the current backlog [5] Factors Influencing Results - Revenue and profitability growth were driven by higher demand for marine technology products and improvements in operational efficiency, leveraging macroeconomic tailwinds and customer engagement [6] - Operational improvements and effective cost management contributed to the turnaround in earnings [6] Other Developments - The company completed the conversion of preferred stock into common stock, simplifying its capital structure and increasing common shares outstanding from 1.4 million to 8 million, which eliminated preferred stock dividends and improved net income attributable to common shareholders [7]

Financial Data and Key Metrics Changes - MIND Technology reported revenues of approximately $12.1 million for Q3 2025, representing a 143% increase year-over-year and a 21% increase sequentially from Q2 2025 [25][26] - Gross profit for the third quarter was approximately $5.4 million, up 141% compared to the same period last year, with a gross profit margin of 45% [26] - Net income for Q3 was approximately $1.3 million, an improvement of about $3 million from a net loss of approximately $1.7 million in Q3 2024 [28] Business Line Data and Key Metrics Changes - Marine technology products revenues were a significant contributor to the overall revenue growth, driven by strong demand in the market [19][25] - Approximately 40% of total revenue in Q3 came from aftermarket activities, indicating a stable revenue stream from spare parts and services [16][28] Market Data and Key Metrics Changes - The marine technology market remains strong, with increased inquiries and demand for products such as Yelling Source Controllers and VULUELINK positioning systems [15][20] - The company has a robust pipeline of pending orders that is estimated to be more than double the current backlog of firm orders, indicating strong future revenue potential [14][112] Company Strategy and Development Direction - The company is strategically positioned for growth, focusing on cost management and operational efficiency to enhance profitability [10][34] - MIND Technology aims to expand its product offerings and explore new markets, leveraging its improved capital structure following the conversion of preferred stock to common stock [11][45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to generate improved financial results in the coming quarters, supported by a strong backlog and active pipeline of orders [10][37] - The current demand environment is favorable, with expectations for continued growth in revenue and profitability as the company concludes fiscal 2025 and looks ahead to fiscal 2026 [38][39] Other Important Information - The company has successfully converted all preferred stock into common stock, resulting in a cleaner capital structure and enhanced flexibility for future growth initiatives [11][30] - Cash flow from operations increased to $1.6 million in Q3, representing an 84% sequential increase compared to Q2 2025 [29] Q&A Session Summary Question: What options does the new cash buffer open for the company? - Management indicated that the cash buffer provides flexibility to expand product offerings and pursue new projects that were previously constrained by capital requirements [45] Question: Can you provide insight into the global installed base and aftermarket business? - Management confirmed that they have equipment installed with every seismic contractor globally, creating a steady flow of aftermarket business opportunities [50] Question: What is the outlook for new order flow as customers make CapEx decisions? - Management expects additional activity in new orders, particularly as customers finalize their capital expenditure plans for the upcoming year [63] Question: What are the growth drivers for sales? - The primary growth drivers include energy exploration and marine survey activities, particularly for carbon capture and wind farm installations [89] Question: What is the expected cash conversion ratio moving forward? - Management anticipates some improvement in the cash conversion ratio in the near term, depending on order inflow and inventory replenishment needs [99]

Exhibit 99.1 THINKING. LEADING TECHNOLOGIES NEWS RELEASE Contacts: Rob Capps, President & CEO MIND Technology, Inc. 281-353-4475 Ken Dennard / Zach Vaughan Dennard Lascar Investor Relations 713-529-6600 MIND@dennardlascar.com MIND TECHNOLOGY, INC. REPORTS FISCAL 2025 THIRD QUARTER RESULTS THE WOODLANDS, TX – December 10, 2024 – MIND Technology, Inc. (NASDAQ: MIND) ("MIND" or the "Company") today announced financial results for its fiscal 2025 third quarter ended October 31, 2024. Revenues from continuing op ...

THE WOODLANDS, Texas, Nov. 26, 2024 /PRNewswire/ -- MIND Technology, Inc. (NASDAQ: MIND) announced today that it will release financial results for its fiscal 2025 third quarter ended October 31, 2024 after the market closes on Tuesday, December 10, 2024.  In conjunction with the release, the Company has scheduled a conference call, which will be broadcast live over the Internet, for Wednesday, December 11th at 9:00 a.m. Eastern Time / 8:00 a.m. Central Time. What: MIND Technology Fiscal 2025 Third Quart ...

THE WOODLANDS, Texas, Sept. 23, 2024 /PRNewswire/ -- MIND Technology, Inc. ("MIND" or the "Company") (Nasdaq: MIND) announced today that its Seamap unit has received an order for a GunLink source controller amounting to approximately $5.1 million. Subsequent to July 31, 2024, the Company has received orders totaling approximately $7.9 million. Mark Welker, Vice President of MIND and Seamap Managing Director, stated, "We are seeing strong demand for our GunLink source controllers. These most recent orders in ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-13490 | --- | --- | |----------------------------------------------------------------------------------------- ...

MIND Technology, Inc. (NASDAQ:MIND) Q2 2025 Earnings Conference Call September 12, 2024 9:00 AM ET Company Participants Zach Vaughan - Investor Relations Robert P. Capps - President and Chief Executive Officer Mark Cox - Vice President and Chief Financial Officer Conference Call Participants Tyson Bauer - KC Capital Ross Taylor - ARS Investment Partners Sam Schwartz - Kaliber Management Operator Greetings. Welcome to MIND Technology’s Fiscal 2025 Second Quarter Earnings Conference Call. At this time, all pa ...

In the second quarter of fiscal 2025, MIND Technology, Inc. (MIND) incurred a net loss attributable to common shareholders of $0.1 million, translating to a loss of 11 cents per share. This figure is narrower than the previous year's loss of $2.4 million, or $1.74 per share. Revenues from continuing operations demonstrated significant growth, rising to approximately $10 million, up from $7.6 million in the second quarter of fiscal 2024. This revenue increase is a testament to the company's enhanced operatio ...

Exhibit 99.1 FUTURE THINKING. LEADING TECHNOLOGIES. NEWS RELEASE Contacts: Rob Capps, President & CEO MIND Technology, Inc. 281-353-4475 Ken Dennard / Zach Vaughan Dennard Lascar Investor Relations 713-529-6600 MIND@dennardlascar.com MIND TECHNOLOGY, INC. REPORTS FISCAL 2025 SECOND QUARTER RESULTS THE WOODLANDS, TX – September 11, 2024 – MIND Technology, Inc. (NASDAQ: MIND) ("MIND" or the "Company") today announced financial results for its fiscal 2025 second quarter ended July 31, 2024. Revenues from conti ...

THE WOODLANDS, Texas, Sept. 11, 2024 /PRNewswire/ -- MIND Technology, Inc. (NASDAQ: MIND) ("MIND" or the "Company") today announced financial results for its fiscal 2025 second quarter ended July 31, 2024. Revenues from continuing operations for the second quarter of fiscal 2025 were approximately $10.0 million compared to approximately $7.6 million in the second quarter of fiscal 2024. The Company reported operating income from continuing operations of approximately $1.4 million for the second quarter of f ...