Mind Technology

MIND Technology makes equipment that helps map the ocean floor and monitor underwater activity. Its products help energy companies, governments, and researchers collect data from the sea. These tools support safer shipping, energy exploration, and environmental studies.

Gadgets Beneath the Waves: What MIND Sells

• Seamap Marine Products: Includes seismic source systems, positioning, and marine sensor technologies, and currently accounts for 100% of reported revenue.
• Positioning Trackers: Devices that help locate equipment and energy sources during marine surveys.
• Marine Sensors: Equipment for measuring depth, pressure, and other underwater conditions, used in research and industry.
• Aftermarket Services: Repairs, spare parts, and technical support for existing customers (68% of revenue in first half 2025).
• Side Scan Sonar: Systems that create images of the sea floor for mapping and security.

Making Waves: Growth Moves and Milestones

• Expanded Huntsville, Texas facility in Q2 2026 to boost production and repairs.
• Adapted SeaLink technology for offshore wind and maritime security since 2024.
• Launched $25 million at-the-market equity program and $4 million share buyback in August 2025.
• Converted all preferred stock to common stock in September 2024, simplifying capital structure.
• Entered new markets in Norway, Singapore, and Turkey, with Norway making up 65.7% of Q2 2025 revenue.

Why MIND Stands Out (Without Getting Too Deep)

MIND operates globally, selling through both direct sales and distributors. Its focus on proprietary marine technology supports a range of industries, from energy to security. Facility upgrades and product adaptation help the company respond to changing market needs.

Five Things You Need to Know

• Revenue was $13.6 million in Q2 FY2026 (three months ended July 31, 2025), up 35.2% year-on-year.
• Gross margin reached 50% in Q2 FY2026 (three months ended July 31, 2025), up from 48% in Q2 FY2025.
• Operating income was $2.7 million in Q2 FY2026 (three months ended July 31, 2025), up 90.3% year-on-year.
• International sales made up over 90% of Q2 2025 revenue, led by Norway.

Bottom Line

MIND has shifted from oil-focused tools to broader marine technology. Its global reach and adaptable products support steady growth in changing markets.