MIND Technology delivered resilient FY2026 results with positive earnings, despite macroeconomic and geopolitical uncertainties impacting customer order activity.

• FY2026 revenue remained steady, supported by strong cash flow, production efficiencies, and a solid pipeline of opportunities.
• Backlog declined slightly to $13.9 million as of January 2026, after receiving $9.5 million in new orders in Q4, with delivery commitments extended into early FY2027.
• Customer deferments due to macro volatility and geopolitical issues are viewed as short-term, with long-term exploration and survey activity outlook remaining positive.
• The firm’s aftermarket services continue to grow, providing reliable, recurring revenue amidst cautious new system order placement.
• Strategic initiatives, including a new trade finance facility, bolster capacity to pursue large projects, positioning the company for future order conversions.