<span item_type="fundamental" item_id="fbe0981ceaffd7d3b7edcac60f7c2261" counter_id="ST/US/MIND" env="prod"></span><span item_type="announcement" item_id="592583971155805697" env="prod"></span><p>Revenue: As of FY2026 Q3, the actual value is USD 9.688 M, missing the estimate of USD 10.9 M.</p><p>EPS: As of FY2026 Q3, the actual value is USD 0.01.</p><p>EBIT: As of FY2026 Q3, the actual value is USD 774 K.</p><p></p><h3>Segment Revenue</h3><ul><li><strong>Seamap Marine Products</strong>: Revenue for the three months ended October 31, 2025, was $9.688 million, compared to $12.105 million for the same period in 2024. For the nine months ended October 31, 2025, revenue was $31.151 million, compared to $31.819 million in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/926423/000143774925037555/mind20251031_10q.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li><strong>Gross Profit</strong>: For the three months ended October 31, 2025, gross profit was $4.513 million with a gross margin of 47%, compared to $5.421 million and a gross margin of 45% in 2024. For the nine months ended October 31, 2025, gross profit was $14.673 million with a gross margin of 47%, compared to $14.417 million and a gross margin of 45% in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/926423/000143774925037555/mind20251031_10q.htm"></span></li><li><strong>Operating Income</strong>: For the three months ended October 31, 2025, operating income was $774,000, compared to $1.876 million in 2024. For the nine months ended October 31, 2025, operating income was $2.780 million, compared to $4.036 million in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/926423/000143774925037555/mind20251031_10q.htm"></span></li></ul><h3>Cash Flow</h3><ul><li><strong>Operating Cash Flow</strong>: Net cash provided by operating activities for the nine months ended October 31, 2025, was $3.803 million, compared to net cash used in operating activities of - $1.407 million in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/926423/000143774925037555/mind20251031_10q.htm"></span></li><li><strong>Free Cash Flow</strong>: Not explicitly detailed, but the net increase in cash and cash equivalents was $14.051 million for the nine months ended October 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/926423/000143774925037555/mind20251031_10q.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li><strong>EBITDA and Adjusted EBITDA</strong>: For the three months ended October 31, 2025, EBITDA was $990,000 and Adjusted EBITDA was $1.273 million. For the nine months ended October 31, 2025, EBITDA was $3.355 million and Adjusted EBITDA was $4.191 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/926423/000143774925037555/mind20251031_10q.htm"></span></li></ul><h3>Future Outlook and Strategy</h3><ul><li><strong>Core Business Focus</strong>: The company expects revenue in the fourth quarter of fiscal 2026 to improve compared to the third quarter, driven by the completion of the Huntsville facility expansion and a significant backlog of firm orders and potential new opportunities.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/926423/000143774925037555/mind20251031_10q.htm"></span></li><li><strong>Non-Core Business</strong>: The company is pursuing initiatives to expand product offerings, including new products and significant project opportunities, which could positively impact future financial results, including fiscal 2027.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/926423/000143774925037555/mind20251031_10q.htm"></span></li><li><strong>Priority</strong>: The company has prioritized strategic initiatives to exploit opportunities in marine exploration and maritime security, including adapting SeaLink technology for alternative applications such as hydrographic surveys for windfarm and carbon capture projects.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/926423/000143774925037555/mind20251031_10q.htm"></span></li></ul>

MIND Techonology | 10-Q: FY2026 Q3 Revenue Misses Estimate at USD 9.688 M