Shares of MIND Technology, Inc. (MIND) have declined 19.8% since the company reported its earnings for the quarter ended Oct. 31, 2025. This compares to the S&P 500 index’s 0.4% decline over the same time frame. Over the past month, the stock has declined 23.4% compared with the S&P 500’s 2.8% growth.MIND Technology reported a fiscal third-quarter 2026 net income of 1 cent per share, a steep decline from $2.87 in the prior-year quarter, which had included a significant effect from the conversion of preferre ...

Year Over Year Backlog increases to $15.0 Million as Commercial Momentum AcceleratesMONROE TOWNSHIP, N.J., Dec. 15, 2025 (GLOBE NEWSWIRE) -- Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), today announced financial results for its fiscal second quarter (“2Q26”) ended October 31, 2025. Highlights include: 2Q26 RESULTS and RECENT HIGHLIGHTS Backlog at October 31, 2025 was approximately $15.0 million, an increase of $11.2 million and nearly 300% over the prior year period.Pipelin ...

MIND Technology (NasdaqCM:MIND) Q3 2026 Earnings Call December 10, 2025 09:00 AM ET Company ParticipantsZach Vaughan - Head of Investor RelationsRob Capps - President and CEOMark Cox - VP and CFOConference Call ParticipantsMike Mitcham - AnalystTyson Bauer - AnalystRoss Taylor - AnalystOperatorGreetings and welcome to the MIND Technology Fiscal 2026 Third Quarter Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If any ...

Financial Data and Key Metrics Changes - MIND Technology reported third-quarter revenues of $9.7 million, slightly down from the previous quarter but still profitable, indicating consistent execution and cost structure optimization [12][14] - Gross profit for the quarter was $4.5 million, resulting in a gross profit margin of 47%, an improvement from 45% year-over-year, primarily due to a favorable product mix [14][17] - Net income decreased to $62,000 compared to $1.3 million in the same quarter last year, influenced by a higher effective tax rate due to discrete tax expense items [17][18] Business Line Data and Key Metrics Changes - The aftermarket business accounted for approximately 64% of total revenues in the first nine months of the fiscal year, providing a stable and recurring revenue stream [11][12] - The backlog of firm orders as of October 31, 2025, was approximately $7.2 million, down from $12.8 million as of July 31, 2025, but new orders totaling about $9.5 million were received after the quarter ended [7][10] Market Data and Key Metrics Changes - Customers across various industries are adopting a wait-and-see approach to larger system orders due to geopolitical and economic uncertainties, although the long-term outlook for the seismic exploration industry remains positive [8][19] - The company maintains a solid pipeline of potential orders, primarily from its three main product lines: GunLink source controllers, BuoyLink positioning systems, and SeaLink streamer systems [10][19] Company Strategy and Development Direction - MIND Technology aims to capitalize on growth opportunities by investing in the development of next-generation marine technology products and expanding its product offerings [13][20] - The company is exploring mergers and acquisitions, organic growth opportunities, and strategic alliances to enhance stockholder value and expand its scale [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving improved results in the fourth quarter despite current market uncertainties, viewing the recent lull in order activity as temporary [6][19] - The long-term pipeline of opportunities is considered very positive, with expectations for a clearer outlook for fiscal 2027 in the next call [20][24] Other Important Information - The company raised approximately $11 million through share issuance via its ATM program, enhancing its liquidity and flexibility for future opportunities [18][22] - MIND Technology maintains a clean, debt-free balance sheet with significant working capital of approximately $35.8 million, including $19.4 million in cash [17][18] Q&A Session Summary Question: Confidence in fiscal Q4 and order turnaround - Management confirmed that recent orders were anticipated and in process, contributing to confidence for Q4 results [28][29] Question: Gross margin improvement and system sales contribution - The improvement in gross margin was attributed to fixed cost absorption rather than pricing strategies on large systems [30][31] Question: Geopolitical risks and customer interest - Management noted a mix of new and existing customers showing interest, indicating a positive outlook despite geopolitical risks [32] Question: ATM program and capital deployment - The ATM program was utilized to strengthen working capital, with no specific event targeted for financing [33][34] Question: Future revenue growth and scaling opportunities - Management indicated that growth could come from new product offerings or market expansions, not solely through M&A [36][38] Question: GWL collaboration details - The collaboration is focused on product line expansion rather than aftermarket servicing [42][43] Question: U.S. revenue generation and tax asset utilization - The company aims to increase U.S. revenue to leverage tax loss carryforwards, with potential annual contributions of $3-10 million [60] Question: Maintenance work as a revenue driver - Maintenance work is expected to grow as the installed base increases, contributing to recurring revenue [61][62] Question: Operating profit margin expectations - Management anticipates improvements in operating profit margins as top-line revenue increases, despite recent stock-based compensation impacts [63][64]

Revenues for the third quarter of fiscal 2026 were approximately $9.7 million compared to $13.6 million for the second quarter of fiscal 2026 and $12.1 million for the third quarter of fiscal 2025. The Company reported operating income of approximately $774,000 for the third quarter of fiscal 2026 compared to $2.7 million for the second quarter of fiscal 2026 and $1.9 million for the third quarter of fiscal 2025. Net income for the third quarter of fiscal 2026 amounted to approximately $62,000 compared to $ ...

Core Insights - Ocean Power Technologies, Inc. (OPT) will release early earnings for its fiscal 2026 second quarter on December 15, 2025, prior to market open [1] - A conference call to discuss the financial results will take place on the same day at 9:00 AM EST, hosted by CEO Philipp Stratmann and CFO Bob Powers [2] Company Overview - OPT specializes in innovative low-carbon marine power solutions and services, targeting sectors such as defense, oil and gas, science and research, and offshore wind [4] - The company offers products like Merrows™, which integrates Maritime Domain Awareness Systems, and PowerBuoy® platforms that provide clean electric power and real-time data communications for maritime applications [4] - OPT is headquartered in Monroe Township, New Jersey, with an additional office in Richmond, California [4]

bound4blue, a company specialising in wind propulsion systems, has established new production capabilities in China, expanding its industrial presence in Asia. The Spanish firm has signed agreements with Chinese manufacturing suppliers to support the adoption of its eSAIL suction sail technology. By expanding operations into the region, bound4blue aims to supply both newbuild vessels and those undergoing retrofits more efficiently by manufacturing closer to major shipbuilding centres. Manufacturing of e ...

Core Viewpoint - Marine Thinking Inc. is set to become a publicly traded company through a business combination with Eureka Acquisition Corp, with a potential pre-money valuation of approximately $130 million at closing [1][5]. Company Overview - Marine Thinking specializes in autonomous ship navigation technology based on physical AI, aiming to transform the marine industry by providing low-cost, easy-to-assemble unmanned sailing technology [2]. - The company has established itself as a leading provider of autonomous ship and fleet solutions in Canada, having been selected for various important R&D projects by multiple Canadian federal government organizations [2]. - Marine Thinking's autonomous solutions have been applied across various marine industry fields in over a dozen countries, addressing the growing shortage of seafarers [2]. Transaction Details - The business combination will result in the new entity being named Marine Thinking Holdings Inc., which will be listed on NASDAQ [1][5]. - The transaction involves an aggregate consideration of $130 million in Eureka shares to be paid to Marine Thinking's shareholders at closing [5]. - The closing of the proposed transaction is subject to customary conditions, including regulatory and shareholder approvals [3][6]. Leadership Comments - The founder and chairman of Marine Thinking emphasized the support received from the Canadian federal government and partners, expressing commitment to advancing unmanned marine technologies [4]. - The incoming chairman of Marine Thinking highlighted confidence in the team's vision and the momentum towards AI-driven solutions in the marine industry [4]. - The chairman and CEO of Eureka expressed excitement about the partnership, which is expected to accelerate innovation in ocean technology and create value for stakeholders [4].

Core Viewpoint - Vision Marine Technologies Inc. is consolidating its Nautical Ventures dealership operations in North Palm Beach, Florida, to enhance operational efficiency while maintaining customer service in the largest recreational boating market in the U.S. [1] Group 1 - The company has sold the property of the Nautical Ventures dealership located at 300 U.S. Highway 1 in North Palm Beach, Florida [1] - The consolidation will involve merging operations into a neighboring water sports showroom at 139 Shore Court [1] - This strategic move aims to streamline operations and improve efficiency within the Nautical Ventures retail network [1]

Company Overview - MIND Technology, Inc is a leading provider of marine technology[1,5] - The company focuses on three broad markets within the marine industry[6] - Seamap unit is a leading supplier to the seismic exploration and survey industries[7] Financial Performance and Strategy - MIND transformed for profitable growth by selling Klein Sonar Unit in August 2023 and streamlining operations[14] - The company eliminated outstanding debt and recapitalized by converting all preferred stock to common stock[15] - The firm backlog was $128 million as of July 31, 2025[21] - Approximately 68% of revenue in the first half of fiscal year 2026 is from recurring after-market (spares, etc)[39] - For the six months ended July 31, 2025, MIND Technology reported revenues of $21463 thousand and a net income of $959 thousand[69,72] Market and Industry - Global spending on exploration should average $22 billion per year in real terms over the next five years[11] - Global capital expenditure on subsea facilities is set for a 10% compound annual growth rate from 2024 to 2027[12]