MIND Technology, Inc. (NASDAQ: MIND) announced its financial results for the fiscal quarter ended July 31, 2026, in a press release dated September 8, 2026. The company reported a significant decline in revenue and a return to an operating loss for the second quarter of fiscal 2027.

Revenues for the fiscal 2027 second quarter were approximately $5.6 million. This figure represents a decrease from $9.7 million in the first quarter of fiscal 2027 and a sharp drop from $13.6 million in the second quarter of fiscal 2026. The company reported an operating loss of approximately $1.8 million for the quarter, reversing the operating income of $14,000 recorded in the previous quarter and the $2.7 million operating income seen in the prior year's comparable period.

Net loss for the quarter amounted to approximately $1.7 million, or a loss of $0.19 per share. This compares to a net loss of $411,000, or $0.05 per share, in the first quarter of fiscal 2027, and net income of $1.9 million, or $0.24 per share, in the second quarter of fiscal 2026. Approximately 9,089,000 shares were outstanding during the quarter.

On a non-GAAP basis, the company reported an Adjusted EBITDA loss of approximately $949,000 for the quarter. This contrasts with Adjusted EBITDA of $811,000 in the first quarter of fiscal 2027 and $3.1 million in the second quarter of fiscal 2026.

The company’s backlog for Marine Technology Product orders within its Seamap segment was approximately $4.8 million as of July 31, 2026. This is a decrease from $7.6 million at April 30, 2026, and $12.8 million at July 31, 2025.

In a statement, President and CEO Rob Capps attributed the results to ongoing market softness and macro uncertainty, which have limited near-term visibility and order flow. However, Capps noted that the after-market business contributed approximately 87% of total revenue, providing a durable base. The company stated it is debt-free and ended the quarter with $15.8 million in cash.

Management has scheduled a conference call for Wednesday, September 9, 2026, at 9:00 a.m. Eastern Time to discuss the results.