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MARKETS / NASDAQ / MIND
NASDAQ · SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS · SMALL CAP

Mind Technology, Inc. MIND

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$40.9M
▼ 12.6% YoY
$750,000
▼ 85.2% YoY
$1.9M
▲ 798.6% YoY
In brief

What this company does

Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia and the United Kingdom, and operates in one segment, Seamap. The Seamap business includes Seamap Pte Ltd, MIND Maritime Acoustics, LLC, Seamap (Malaysia) Sdn Bhd and Seamap (UK) Ltd, which designs, manufactures and sells specialized marine seismic equipment. The company maintains a Seamap facility in the United Kingdom for engineering, training, sales and field service operations, a Singapore facility for engineering, assembly, sales, repair and field service operations, and a production facility in Malaysia for manufacturing and repair services. In fiscal 2026 and 2025, the company's single largest customer accounted for approximately 18% and 36%, respectively, of consolidated revenues, and together the five largest customers accounted for approximately 69% of consolidated revenues in fiscal 2026. As of January 31, 2026, the company employed approximately 157 people on a full-time basis, none of whom were represented by a union or covered by a collective bargaining agreement.

Written from the business description in MIND Technology, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 20 April 2026. Every sentence was checked against that document before publication.

Growth
USD 40.9M
Revenue, FY2025 · full 17-year series below
Revenue $M Net income $M
FY2025 · Revenue 40.9 · Net income 0.8
40M80M-20M200920112013201520172019202120232025
Compound annual growth
+17.9%
+14.1%
−2.3%
−3.6%
−11.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +14.1% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
2 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 7.0% · Net 1.8%
10%20%30%-50%200920112013201520172019202120232025
ROE
FY2025 · ROE 2.2%
10%20%-20%-40%200920112013201520172019202120232025

Each USD of equity produced 2 cents of profit this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 1.9
20M40M-8M-16M200920112013201520172019202120232025
Net buybacks $M Dividends $M
FY2023 · Dividends — · Net buybacks 0.0
4M8M-2M2013201420152016201720182020202120222023

Total assetsUSD 49.3M
EquityUSD 41.4M
CashUSD 19.1M
Current ratio6.03×

Equity funds 84% of total assets.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.00.00.00.00.00.00.00.00.00.00.10.10.10.10.10.10.1
Operating income $B0.00.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.00.00.00.00.00.0
EBITDA $B0.00.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.00.00.00.00.00.0
Income tax $B0.00.00.00.0−0.00.00.00.00.00.00.0−0.00.0−0.00.00.00.0
Net income $B0.00.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.00.00.00.00.00.0
Free cash flow $B0.00.0−0.0−0.0−0.0−0.0−0.0−0.00.00.00.00.00.00.00.00.00.0
EPS, diluted $···−0.92−1.31−1.80−1.10−1.78−1.82−2.79−3.22−0.740.361.292.020.460.05
Dividend / sh $·················
Payout %·················
ROE %2.220.31.2−33.1−49.7−52.0−21.6−32.4−28.7−35.7−30.8−5.82.810.319.45.30.6
Shares out B0.010.01···············

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 83 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 12 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivitySearch, Detection, Navigation, Guidance, Aeronautical Sys
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsJanuary 31
SEC categorysmaller reporting company
Data on record since2009

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