MIND Technology reports Q1 FY2026 revenue $7.9M, net loss $970K

MIND TECHNOLOGY, INC

Revenue $7.9M, down 18% YoY from $9.7M and down 47% sequentially from $15.0M.
Operating loss of $658K vs operating income of $2.8M in Q4 FY2025 and $730K a year ago.
Net loss per share $0.12 vs net income of $0.25 in Q4 FY2025 and less than $0.01 in Q1 FY2025.
Backlog increased to $21.1M at Apr 30, 2025 from $16.2M at Jan 31, 2025, but down from $31M year ago.
Cash flow from operations $4.1M, cash balance $9.2M; CEO notes $5.5M orders delayed to Q2.

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