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Mind Technology (MIND) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Dec 11, 2025
Mind Technology (MIND) reported revenue of $9.7M for the third quarter fiscal 2026 (Q3 FY26), -20% from a year earlier and -29% from the quarter before. Operating margin was 8.0%, net earnings $62K (0.6% of revenue).
Mind Technology, Q3 FY26: revenue $9.7M (-20% year over year), operating margin 8.0%, net earnings $62K, operating cash flow $894K. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.7M | -29% | -20% |
| Gross profit | $4.5M | -34% | -17% |
| Operating profit | $774K | -71% | -59% |
| Net earnings | $62K | -97% | -95% |
| Operating cash flow | $894K | — | -61% |
| Free cash flow | $801K | — | -64% |
What changed
Revenue was $9.7M in Q3 FY26, down 20% year over year and down 29% from the previous quarter.
Gross margin was 46.6%, up 1.8 points from a year earlier. Operating profit was $774K, a 8.0% margin (down 7.5 points year over year). Operating expenses grew 5% against a revenue fall of 20%. Net earnings were $62K, down 95% year over year. The effective tax rate was 92.0%.
Operating cash flow was $894K (down 61% year over year), 1442% of net earnings. Non-cash charges added back $211K of depreciation and amortization and $283K of share-based compensation. Working capital and other items added $338K. Capital expenditures of $93K left free cash flow of $801K.
Questions
What was Mind Technology's revenue in the third quarter fiscal 2026?
Mind Technology (MIND) reported revenue of $9.7M for the third quarter fiscal 2026 (Q3 FY26), -20% from a year earlier and -29% from the quarter before.
Was Mind Technology profitable in the third quarter fiscal 2026?
Operating profit was $774K (8.0% of revenue) and net earnings $62K.
Source: Mind Technology 10-Q on SEC EDGAR.