Filing Flows › Mind Technology (MIND) › Q1 FY26
Mind Technology (MIND) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Jun 11, 2025
Mind Technology (MIND) reported revenue of $7.9M for the first quarter fiscal 2026 (Q1 FY26), -18% from a year earlier and -47% from the quarter before. Operating margin was -8.3%, net loss $970K (12.3% of revenue).
Mind Technology, Q1 FY26: revenue $7.9M (-18% year over year), operating margin -8.3%, net loss $970K, operating cash flow $4.1M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.9M | -47% | -18% |
| Operating profit | −$658K | -124% | — |
| Net earnings | −$970K | -148% | — |
| Operating cash flow | $4.1M | +98% | — |
| Free cash flow | $3.8M | +109% | — |
What changed
Revenue was $7.9M in Q1 FY26, down 18% year over year and down 47% from the previous quarter.
Gross margin was 42.2%, down 1.4 points from a year earlier. Operating costs exceeded revenue by $658K, an operating margin of -8.3%. Operating expenses grew 14% against a revenue fall of 18%. The fastest-growing cost line was SG&A (+23%). The quarter ended with a net loss of $1.0M, after a profit of $2.0M the previous quarter.
Operating cash flow was $4.1M. Non-cash charges added back $225K of depreciation and amortization and $272K of share-based compensation. Working capital and other items added $4.5M. Capital expenditures of $237K left free cash flow of $3.8M.
Questions
What was Mind Technology's revenue in the first quarter fiscal 2026?
Mind Technology (MIND) reported revenue of $7.9M for the first quarter fiscal 2026 (Q1 FY26), -18% from a year earlier and -47% from the quarter before.
Was Mind Technology profitable in the first quarter fiscal 2026?
Operating loss was $658K (-8.3% of revenue) and net loss $970K.
Source: Mind Technology 10-Q on SEC EDGAR.