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Mind Technology (MIND) earnings and revenue breakdown
Latest: Q2 FY27 · 10-Q filed Sep 9, 2026 · Mind Technology (MIND) Q2 FY27 earnings results →
Q2 FY27 Revenue down 58% year over year to $5.6M · 31¢ of every $1 of revenue lost · operating margin -31.9%
Mind Technology made $5.6M in Q2 FY27 (-58% Y/Y). Operating margin -31.9%, net loss $1.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 9, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $5.6M in Q2 FY27, down 59% year over year and down 42% from the previous quarter.
Gross margin was 37.2%, down 13.2 points from Q2 FY26. Operating costs exceeded revenue by $1.8M, an operating margin of -31.9%. Operating expenses fell 7% while revenue fell 59%. The fastest-growing cost line was Research & development (+31%). The quarter ended with a net loss of $1.7M, wider than the previous quarter's $411K loss.
Operating cash flow was −$1.8M. Non-cash charges added back $224K of depreciation and amortization and $543K of share-based compensation. Working capital and other items used $823K. Capital expenditures of $108K exceeded it, leaving free cash flow of −$1.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 FY27 | 10-Q | Sep 9, 2026 | $5.6M | -58% | -31.9% | −$1.7M | −$1.8M |
| Q1 FY27 | 10-Q | Jun 11, 2026 | $9.7M | +22% | 0.1% | −$411K | −$1.3M |
| Q4 FY26 | 10-K | Apr 20, 2026 | $9.8M | -35% | 0.8% | −$271K | −$1.2M |
| Q3 FY26 | 10-Q | Dec 11, 2025 | $9.7M | -20% | 8.0% | $62K | $894K |
| Q2 FY26 | 10-Q | Sep 10, 2025 | $13.6M | +35% | 19.6% | $1.9M | −$1.2M |
| Q1 FY26 | 10-Q | Jun 11, 2025 | $7.9M | -18% | -8.3% | −$970K | $4.1M |
| Q4 FY25 | 10-K | Apr 25, 2025 | $15.0M | +12% | 18.5% | $2.0M | $2.1M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Mind Technology
MIND Technology, Inc. (“MIND” and, together with its consolidated subsidiaries, the “Company”, “we”, “us” and “our”), a Delaware corporation, was incorporated in 1987. We provide technology to the oceanographic, hydrographic, seismic and maritime security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia and the United Kingdom. We operate in one segment, Seamap. Our Seamap business includes Seamap Pte Ltd, MIND Maritime Acoustics, LLC, Seamap (Malaysia) Sdn Bhd and Seamap (UK) Ltd (collectively “Seamap”), which designs, manufactures and sells specialized marine seismic equipment.
In its own words, from its 10-K, filed Apr 20, 2026.
Mind Technology against its Search, Detection, Navigation, Guidance, Aeronautical Sys peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -58% against the peers' median +9%. Operating margin: -31.9% against the peers' median 11.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MIND Mind Technology | Q2 FY27 | $5.6M | -58% | -31.9% |
| NOC Northrop Grumman | Q3 2026 | $11.1B | +7% | 11.4% |
| LHX L3Harris Technologies | Q3 2026 | $6.1B | +7% | 13.0% |
| GRMN Garmin | Q3 2026 | $2.0B | +12% | 30.8% |
| TDY Teledyne Technologies | Q3 2026 | $1.7B | +9% | 20.6% |
| DRS Leonardo DRS | Q3 2026 | $1.1B | +11% | 10.9% |
| LUNR Intuitive Machines | Q2 2026 | $206M | +310% | -22.9% |
| LYNX Lyntris | Q3 2026 | $194M | +90% | 5.7% |
| CODA Coda Octopus Group | Q3 FY26 | $7.7M | +9% | 19.9% |
Source: Mind Technology 10-Q on SEC EDGAR · CIK 926423 · Search, Detection, Navigation, Guidance, Aeronautical Sys
13F: who owns MIND and who is buying
More on MIND
History
Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results