MIND Technology reports Q3 revenue down 41% to $4.9M, net loss $0.31/share

MIND TECHNOLOGY, INC

2023-Q3 EPS reported -$0.90 revenue$16,142,000

Revenue from Marine Technology Products $4.9M, down from $8.3M YoY.
Net loss from continuing ops $3.3M ($0.31 per share) vs $2.1M loss ($0.20) YoY.
Adjusted EBITDA loss widened to $2.7M from $1.3M loss in prior year.
Backlog grew to $19.9M, up from $10.0M a year ago and $19.3M sequentially.
Management guides Q4 revenue $12-14M, expects return to profitability.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MIND TECHNOLOGY, INC reported the fiscal 2023 third quarter ended October 31, 2022 results: revenue $4.9 million, net income approximately $3.3 million, EPS $0.31 per share.

Period: the fiscal 2023 third quarter ended October 31, 2022
Revenue: $4.9 million
Net income: approximately $3.3 million
EPS: $0.31 per share
Result: reported results

Exact text from the filing

announced financial results for its fiscal 2023 third quarter ended October 31, 2022. Revenues from Marine Technology Products sales for the third quarter of fiscal 2023 were $4.9 million, compared to $8.3 million in the third quarter of fiscal 2022. The Company reported a net loss from continuing operations for the third quarter of fiscal 2023 of approximately

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Source: SEC EDGAR

accession 0001437749-22-028980

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