secwatch.observer — SEC 8-K summary
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Issuer:     MIND TECHNOLOGY, INC (MIND)
CIK:        0000926423
Form:       8-K
Filed at:   2023-09-13T23:59:59+00:00
Accession:  0001437749-23-025777
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MIND Tech Q2 revenue $8.8M; sells Klein Marine for $11.5M; backlog rises to $17M
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- Revenue $8.8M vs $8.7M YoY; operating loss $1.5M vs $1.6M.
- Net loss from continuing ops $1.5M ($0.18 per share) vs $1.8M ($0.20).
- Adjusted EBITDA loss $687k vs $1.0M; backlog $17M, up from $14M a year ago.
- Sold Klein Marine to General Oceans for $11.5M cash; used proceeds to repay high-cost debt, now debt-free.
- Seamap unit contributed 86% of Q2 revenue; subsequent orders of $5.4M added.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/926423/000143774923025777/0001437749-23-025777-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/926423/000143774923025777/mind20230621_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-025777

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer