Скачать или смотреть MIND Technology, Inc. (NASDAQ: MIND) Q1 2026 Earnings Call | 06/11/2025

MIND Technology, Inc. (NASDAQ: MIND) reported Q1 2026 results on June 11, 2025, with revenue of $7.9 million, down 18% year-over-year from $9.7 million in Q1 2025. The revenue decline was primarily due to the delayed delivery of $5.5 million in orders, which are expected to be recognized in Q2. Gross profit for the quarter was $3.3 million, yielding a gross margin of 42%, slightly lower than last year’s 44%, mainly due to lower revenue and reduced absorption of fixed costs.

Operating expenses rose to $4.0 million, up from $3.5 million a year ago, reflecting higher selling, general, and administrative costs, including nonrecurring items related to restructuring and tax analysis. This contributed to an operating loss of $658,000, compared to an operating income of $730,000 in Q1 2025. The company posted a net loss of $970,000 (–$0.12 per share), a reversal from net income of $954,000 last year. Adjusted EBITDA was a loss of $179,000, down from a positive $1.5 million the prior year.

Despite the earnings setback, MIND Technology reported strong operational liquidity, with cash and cash equivalents rising to $9.2 million from $5.3 million at the end of January 2025. Operating cash flow improved significantly to $4.1 million, up 98% sequentially. The company’s order backlog increased to $21.1 million, positioning it for improved results in future quarters. Working capital stood at $22.8 million, and management expressed confidence in a positive outlook for Q2, expecting revenue growth and a return to profitability as delayed orders are fulfilled.

Outlook:

Q2 2026: Revenue expected to increase as delayed $5.5 million in orders are delivered

Focus on leveraging $21.1 million backlog and maintaining strong liquidity

Continued emphasis on operational efficiency and cost controls

#MINDTechnology #MIND #EarningsCall #Q12026 #MarineTech #RevenueDecline #Backlog #CashFlow #Investing #InsideTicker