MIND Technology Q1 FY2024 revenue up 39% YoY to $12.6M; backlog reaches $22.6M

MIND TECHNOLOGY, INC

Revenue $12.6M, up 39% YoY from $9.1M; operating income $289k vs loss $2.5M last year.
Net loss $240k ($0.09/share) vs net loss $2.4M ($0.24/share) in prior year.
Adjusted EBITDA $913k vs loss of $1.9M in Q1 FY2023.
Backlog $22.6M at quarter end, up 68% from $13.4M a year ago and up from $20.7M sequentially.
Gross margin improved to 43% in Q1 FY2024 from 36% in prior quarter.

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 fiscal 2024 first quarter ended April 30, 2023 results: revenue $12.6 million, net income net loss of $240,000, EPS $0.09 per share.

Period: fiscal 2024 first quarter ended April 30, 2023
Revenue: $12.6 million
Net income: net loss of $240,000
EPS: $0.09 per share
Result: reported results

Exact text from the filing

MIND Technology, Inc. (NASDAQ: MIND) (“MIND” or the “Company”) today announced financial results for its fiscal 2024 first quarter ended April 30, 2023. Revenues from Marine Technology Products sales for the first quarter of fiscal 2024 were $12.6 million

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Source: SEC EDGAR

accession 0001437749-23-017272

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