MIND Tech Q4 rev $15.0M; net income $2.0M; retains Lucid for strategic alternatives

MIND TECHNOLOGY, INC

Q4 revenue $15.0M, up from $12.1M Q3 and $13.4M prior-year Q4; operating income $2.8M.
Net income $2.0M ($0.25 diluted EPS) vs $1.4M ($0.35 EPS) prior-year Q4.
Seamap backlog $16.2M at Jan 31, 2025, down from $38.4M year ago; $15.9M in new orders since.
Retained Lucid Capital Markets to explore M&A, combination, or outright sale to gain scale.
Plans to file shelf registration for potential future capital needs; no immediate need for capital.

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