1 FUTURE THINKING. LEADING TECHNOLOGIES. MIND Technology, Inc. Fiscal Third Quarter (ended October 31, 2022) Conference Call December 14, 2022 MOTIVATE I INNOVATE I NAVIGATE I DISCOVER 2 FUTURE THINKING. LEADING TECHNOLOGIES. Forward Looking Statement Certain statement and information in this presentation may constitute "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. The words "b ...

Financial Data and Key Metrics Changes - Revenues from continuing operations totaled $4.9 million in Q3 2023, a 41% decrease compared to $8.3 million in the same period last year [12] - Gross profit from continuing operations was $1.5 million, down approximately 53% year-over-year, resulting in a gross profit margin of approximately 31%, down from 38% in the prior year [12][13] - Net loss from continuing operations for Q3 2023 was $3.3 million, compared to a $2.1 million loss in Q3 2022 [15] - Adjusted EBITDA from continuing operations was a loss of $2.7 million, compared to a loss of $1.3 million in Q3 2022 [15] Business Line Data and Key Metrics Changes - The exploration market is experiencing strong order flow, driven by sustained global energy prices, with customers looking to expand their fleets [8] - The marine survey business has seen increased interest due to higher energy prices, particularly for offshore wind farms [9] - Increased order activity for maritime security and surveillance technology, particularly for multi-beam side scan sonar systems, has been noted [10] Market Data and Key Metrics Changes - The backlog as of October 31, 2022, was approximately $19.9 million, up over 50% from $13.1 million at the end of fiscal 2022 [11] - The company is experiencing positive momentum in various markets, supported by favorable macroeconomic conditions [11] Company Strategy and Development Direction - The company aims to capitalize on favorable market trends in exploration, defense, and survey sectors [8] - There is a focus on developing synthetic aperture sonar and passive sonar arrays as part of strategic initiatives [14] - The company anticipates generating revenue of between $12 million and $14 million in Q4 2023, expecting to return to profitability [19] Management's Comments on Operating Environment and Future Outlook - Management acknowledges challenges such as supply chain issues and evolving delivery requirements but remains optimistic about future growth [20] - The company is working to address liquidity challenges and aims to resume preferred stock dividend payments in the future [21] - Management believes that the fourth quarter will demonstrate profitability and that positive market trends will continue into fiscal 2024 [22] Other Important Information - The company has no funded debt or outstanding obligations aside from normal trade obligations, with a working capital of approximately $12.8 million and cash of approximately $812,000 as of October 31, 2022 [17] Q&A Session Summary Question: Should Q3 and Q4 be viewed as a composite for a better understanding of the company's position? - Management indicated that while there is some overlap, Q4 is expected to show an increase in revenue beyond the Q3 levels [29] Question: What is the anticipated impact of the joint venture partner in Europe on revenue? - Management is cautious but optimistic about the significant return expected from the joint venture [32] Question: What is the outlook for cash and liquidity by the end of the fiscal year? - Management refrained from projecting cash balances but noted ongoing deliveries and efforts to improve liquidity [35] Question: Why is there a lack of insider buying despite the low stock price? - Management acknowledged some insider buying earlier in the year but noted restrictions on trading due to non-public information [50] Question: How long will it take to reach the $100 million revenue run rate? - Management suggested it may take until the year after next to reach the $100 million target, emphasizing the need for growth to compound [52]

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, 2022 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. (Exact name of registrant as specified in its charter) Delaware 76-0210849 (State ...

Financial Data and Key Metrics Changes - Revenues for Q2 2023 were approximately $8.7 million, representing a 28% increase compared to $6.8 million in Q2 2022, but slightly below Q1 2023 revenues of $9.1 million [10][16] - Operating loss improved to approximately $1.6 million from $2.6 million in Q2 2022 and $2.5 million in Q1 2023 [10] - Gross profit for Q2 2023 was $3.5 million, up approximately 59% year-over-year, resulting in a gross profit margin of approximately 40%, an increase from 33% in the prior year [16] - Net loss from continuing operations was $1.7 million compared to a loss of $2.7 million in Q2 2022 [18] - Adjusted EBITDA from continuing operations was a loss of $1 million, an improvement from a loss of $1.8 million in Q2 2022 [18] Business Line Data and Key Metrics Changes - The marine seismic industry is experiencing robust order activity due to sustained global energy prices, positively impacting the exploration business [11] - Increased interest in alternative energy, particularly offshore wind farms, is driving demand in the marine survey business [11] - The company has seen heightened order activity for maritime security technology, particularly in response to global geopolitical tensions [14] Market Data and Key Metrics Changes - Backlog as of July 31, 2022, was approximately $19.3 million, up from $13.1 million at the beginning of the fiscal year [12] - The company is experiencing positive momentum across its three key markets: exploration, defense, and survey [12] Company Strategy and Development Direction - The company aims to capitalize on market trends driven by high energy prices and geopolitical factors, focusing on expanding its product offerings in marine seismic, survey, and defense sectors [11][12] - Management is optimistic about the potential for growth in the second half of fiscal 2023, expecting improved financial performance [21] Management's Comments on Operating Environment and Future Outlook - Management acknowledges challenges such as supply chain issues and changing delivery requirements but remains confident in the company's position and market trends [22] - The expectation is for a fall-off in Q3 revenues compared to Q2, but significant improvement is anticipated in Q4, potentially leading to profitability [21][22] Other Important Information - The company deferred payment of dividends on preferred stock to preserve financial flexibility, with plans to resume payments in the future [23] - The company has no funded debt or outstanding obligations aside from normal trade obligations, maintaining a largely variable cost structure [19] Q&A Session Summary Question: Revenue expectations for the year - Management maintains revenue expectations of approximately $30 million to $40 million for the year, with the second half expected to outperform the first [29][30] Question: Cash management for large orders - Management is focused on managing liquidity and working capital, exploring options such as pre-payments and monetizing non-strategic assets to fulfill large orders [32][34] Question: European joint venture status - The joint venture is expected to contribute more in the next fiscal year, with some benefits already being realized from the geopolitical situation [37][39] Question: Backlog and future orders - The backlog of $19.3 million is expected to cover the majority of revenue targets for the fiscal year, with additional high-confidence opportunities being pursued [40][41] Question: Transition to profitability - Management believes that the second half of the fiscal year could lead to profitability, setting the stage for a higher base level of business going forward [53][54]

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 April 30, 2022 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. (Exact name of registrant as specified in its charter) Delaware 76-0210849 (State ...

MIND Technology, Inc. (NASDAQ:MIND) Q1 2023 Earnings Conference Call June 9, 2022 9:00 AM ET Company Participants Ken Dennard - IR Rob Capps - President & CEO Mark Cox - Vice President & CFO Conference Call Participants Tyson Bauer - KC Capital Ross Taylor - ARS Investment Partners Operator Greetings. Welcome to the MIND Technology Fiscal 2023 First Quarter Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Ope ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 31, 2022 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: 000-13490 MIND Technology, Inc. (Exact name of registrant as specified in its charter) Delaware 76-0210849 (State or other jurisdi ...

MIND Technology, Inc. (NASDAQ:MIND) Q4 2022 Earnings Conference Call April 21, 2022 9:00 AM ET Company Participants Zach Vaughan - Dennard Lascar Investor Relations Rob Capps - President and CEO Mark Cox - Vice President and CFO Conference Call Participants Tyson Bauer - KC Capital Ross Taylor - ARS Investment Partners Operator Greetings. And welcome to the MIND Technologies??? Fourth Quarter 2022 Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Table of Contents (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2021 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. (Exact name of registrant as specified in its charter) Delaware 76-0210849 (Sta ...

MIND Technology, Inc. (NASDAQ:MIND) Q3 2022 Results Earnings Conference Call December 9, 2021 9:00 AM ET Company Participants Ken Dennard - Investor Relations Rob Capps - President and Chief Executive Officer Conference Call Participants Tyson Bauer - KC Capital Operator Greetings. Welcome to the MIND Technologies??? Third Quarter 2022 Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As ...