China's offshore-wind manufacturers are positioning themselves for global growth as peers in the West struggle, writes @SStapczynki https://t.co/0dP87WH05c ...

ANCHOR REPORT Global Markets Research 14 October 2025 Eyes on margin recovery and offshore wind We believe China's wind power sector has turned a corner after years of price competition, as evidenced by the YTD recovery of wind turbine prices. We expect the demand for wind power to stay resilient over 2026-27F, as we believe the returns for wind power projects are likely to be relatively less impacted by the new power tariff policy due to better utilization rates. We believe the key supply-chain players are ...

Cesar Lima never gave much thought to the politics of offshore wind. Most days, the ironworker focused on his shift 15 miles out at sea, climbing turbines and watching dolphins gliding past his vessel off the coast of Rhode Island https://t.co/jPEk30Q3py ...

The UK opened applications for the latest offshore wind subsidy auction as the government tries to secure enough capacity to make it possible to run a carbon-free electricity grid by 2030 https://t.co/IneVLOMlTw ...

“There are certain types of projects that really won’t move forward, in particular offshore wind.”This week on “Checks and Balance” @chowardchoward weighs up the impact of the “Big Beautiful Bill” on America’s energy sector https://t.co/etfE81rgEg ...

Financial Data and Key Metrics Changes - MIND's first quarter revenues from marine technology product sales totaled $7.9 million, down approximately 18% year-over-year due to the timing of $5.5 million in orders that were unable to be delivered before quarter-end [17][18] - First quarter gross profit was $3.3 million, representing a gross profit margin of 42%, impacted by lower revenue and less cost absorption [19] - The company reported a net loss of approximately $970,000 for the first quarter, compared to net income of $954,000 in the same quarter a year ago [22] Business Line Data and Key Metrics Changes - The aftermarket activity represented approximately 71% of revenues in the first quarter, significantly higher than the historical average of 40%, due to deferrals in system sales [13] - Marine Technology product revenues were affected by the delivery delays, which are expected to be resolved in the second quarter [17][18] Market Data and Key Metrics Changes - The backlog of firm orders as of April 30, 2025, was approximately $21 million, an increase from $16.2 million as of January 31, 2025 [9] - The company continues to see strength in all key markets, with a favorable customer demand environment expected to improve results for the remainder of fiscal 2026 [18] Company Strategy and Development Direction - MIND is focused on optimizing its supply chain to manage lead times and meet customer delivery requirements, which is expected to enhance financial results [7][8] - The company is exploring innovative ways to expand and repurpose existing technology for new applications, aiming to enhance shareholder value [24][27] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the balance of the fiscal year despite the first quarter shortfall, expecting improved performance in the second quarter [7][28] - The macro environment is seen as advantageous for MIND, with strong demand for marine technology products across various industries [28] Other Important Information - The company has a clean, debt-free balance sheet following the conversion of preferred stock to common stock, enhancing financial flexibility [23] - MIND is in the final stages of expanding its facility in Huntsville, Texas, which is expected to contribute significantly to revenue in the future [13] Q&A Session Summary Question: Have the $5.5 million delayed deliveries been completed? - Partially delivered, with one large system and a few other orders still pending [34][36] Question: What is the expected impact of the tax loss carryforwards? - Approximately $80 million in net operating loss carryforwards could be utilized, but generating U.S. income is necessary to unlock that value [40][42] Question: Are there new opportunities in deep-sea mining? - Existing and potential customers are looking to expand their exploration efforts, which aligns with MIND's product offerings [46][47] Question: What is the status of master supply agreements? - MIND currently has master supply agreements with larger customers, facilitating quicker order processing [48][50] Question: What is the expected revenue from the expanded Texas facility? - The facility expansion is expected to generate several million dollars a year in additional revenue [67] Question: How is the company addressing new business lines? - MIND is actively looking to expand its offerings to existing and new customers, which is part of its strategic focus [73]