MIND TECHNOLOGY, INC. REPORTS FISCAL 2025 FOURTH QUARTER AND YEAR-END RESULTS
MIND Technology (NASDAQ: MIND) reported strong financial results for Q4 and fiscal year 2025. Q4 revenues reached $15.0 million, up from $12.1 million in Q3 FY25 and $13.4 million in Q4 FY24. The company posted Q4 operating income of $2.8 million and net income of $2.0 million ($0.25 per share).
Full-year operating income for FY25 was $6.8 million, significantly higher than $518,000 in FY24. The Marine Technology Products backlog stood at $16.2 million as of January 31, 2025, with additional orders of $15.9 million received after the period end. The company ended Q4 with $5.3 million cash on hand.
MIND announced plans to explore strategic options for growth, including potential acquisitions, business combinations, or company sale, engaging Lucid Capital Markets as advisor. The company also plans to file a shelf registration statement for potential future capital raising.
MIND Technology (NASDAQ: MIND) ha riportato risultati finanziari solidi per il quarto trimestre e l'anno fiscale 2025. I ricavi del Q4 hanno raggiunto 15,0 milioni di dollari, in aumento rispetto ai 12,1 milioni del Q3 FY25 e ai 13,4 milioni del Q4 FY24. L'azienda ha registrato un reddito operativo di 2,8 milioni di dollari e un utile netto di 2,0 milioni di dollari (0,25 dollari per azione) nel Q4.
Il reddito operativo per l'intero anno fiscale 2025 è stato di 6,8 milioni di dollari, significativamente superiore ai 518.000 dollari del FY24. L'ordine arretrato per i prodotti di tecnologia marina ammontava a 16,2 milioni di dollari al 31 gennaio 2025, con ulteriori ordini per 15,9 milioni di dollari ricevuti dopo la chiusura del periodo. L'azienda ha chiuso il Q4 con 5,3 milioni di dollari di liquidità disponibile.
MIND ha annunciato l'intenzione di esplorare opzioni strategiche per la crescita, inclusi potenziali acquisizioni, fusioni o la vendita della società, affidandosi a Lucid Capital Markets come consulente. Inoltre, prevede di depositare una dichiarazione di registrazione shelf per un possibile futuro aumento di capitale.
MIND Technology (NASDAQ: MIND) reportó sólidos resultados financieros para el cuarto trimestre y el año fiscal 2025. Los ingresos del Q4 alcanzaron los 15,0 millones de dólares, frente a los 12,1 millones del Q3 FY25 y los 13,4 millones del Q4 FY24. La compañía registró un ingreso operativo de 2,8 millones de dólares y un ingreso neto de 2,0 millones de dólares (0,25 dólares por acción) en el Q4.
El ingreso operativo anual para el FY25 fue de 6,8 millones de dólares, significativamente superior a los 518,000 dólares del FY24. La cartera de pedidos de Productos de Tecnología Marina era de 16,2 millones de dólares al 31 de enero de 2025, con pedidos adicionales de 15,9 millones recibidos después del cierre del período. La compañía terminó el Q4 con 5,3 millones de dólares en efectivo disponible.
MIND anunció planes para explorar opciones estratégicas de crecimiento, incluyendo posibles adquisiciones, combinaciones empresariales o la venta de la compañía, contratando a Lucid Capital Markets como asesor. Además, planea presentar una declaración de registro shelf para una posible futura recaudación de capital.
MIND Technology (NASDAQ: MIND)는 2025 회계연도 4분기 및 연간 실적에서 강력한 재무 성과를 보고했습니다. 4분기 매출은 1,500만 달러로, 2025 회계연도 3분기 1,210만 달러 및 2024 회계연도 4분기 1,340만 달러에서 증가했습니다. 회사는 4분기 영업이익 280만 달러와 순이익 200만 달러 (주당 0.25달러)를 기록했습니다.
2025 회계연도 전체 영업이익은 680만 달러로, 2024 회계연도 51만 8천 달러에 비해 크게 증가했습니다. 2025년 1월 31일 기준 해양 기술 제품 수주 잔고는 1,620만 달러였으며, 기간 종료 후 추가 주문 1,590만 달러가 접수되었습니다. 회사는 4분기 말 현금 530만 달러를 보유하고 있습니다.
MIND는 성장 전략 옵션을 모색할 계획을 발표했으며, 잠재적 인수, 사업 결합 또는 회사 매각을 포함하여 Lucid Capital Markets를 자문사로 선정했습니다. 또한, 향후 자본 조달을 위한 셸프 등록 서류 제출 계획도 밝혔습니다.
MIND Technology (NASDAQ: MIND) a publié de solides résultats financiers pour le quatrième trimestre et l'exercice 2025. Les revenus du T4 ont atteint 15,0 millions de dollars, en hausse par rapport à 12,1 millions au T3 FY25 et 13,4 millions au T4 FY24. La société a enregistré un résultat opérationnel de 2,8 millions de dollars et un bénéfice net de 2,0 millions de dollars (0,25 dollar par action) au T4.
Le résultat opérationnel pour l'ensemble de l'exercice 2025 s'est élevé à 6,8 millions de dollars, nettement supérieur aux 518 000 dollars de l'exercice 2024. Le carnet de commandes des produits de technologie marine s'élevait à 16,2 millions de dollars au 31 janvier 2025, avec des commandes supplémentaires de 15,9 millions reçues après la fin de la période. La société a terminé le T4 avec 5,3 millions de dollars de liquidités disponibles.
MIND a annoncé son intention d'explorer des options stratégiques de croissance, incluant d'éventuelles acquisitions, combinaisons d'entreprises ou la vente de la société, en faisant appel à Lucid Capital Markets comme conseiller. La société prévoit également de déposer une déclaration d'enregistrement shelf pour un éventuel futur levée de fonds.
MIND Technology (NASDAQ: MIND) meldete starke Finanzergebnisse für das vierte Quartal und das Geschäftsjahr 2025. Die Umsätze im Q4 erreichten 15,0 Millionen US-Dollar, gegenüber 12,1 Millionen im Q3 FY25 und 13,4 Millionen im Q4 FY24. Das Unternehmen verzeichnete im Q4 einen operativen Gewinn von 2,8 Millionen US-Dollar und einen Nettogewinn von 2,0 Millionen US-Dollar (0,25 US-Dollar je Aktie).
Der operative Gewinn für das gesamte Geschäftsjahr 2025 betrug 6,8 Millionen US-Dollar und lag damit deutlich über 518.000 US-Dollar im Geschäftsjahr 2024. Der Auftragsbestand für Marine-Technologieprodukte belief sich zum 31. Januar 2025 auf 16,2 Millionen US-Dollar, mit zusätzlichen Bestellungen in Höhe von 15,9 Millionen US-Dollar nach Periodenende. Das Unternehmen schloss das Q4 mit 5,3 Millionen US-Dollar liquiden Mitteln ab.
MIND kündigte Pläne an, strategische Wachstumsoptionen zu prüfen, einschließlich möglicher Übernahmen, Unternehmenszusammenschlüsse oder eines Verkaufs, und engagierte Lucid Capital Markets als Berater. Zudem plant das Unternehmen, eine Shelf-Registrierungserklärung für eine mögliche zukünftige Kapitalaufnahme einzureichen.
- Revenue increased to $15.0M in Q4 FY25, up from $12.1M in Q3 FY25 and $13.4M in Q4 FY24
- Q4 operating income grew to $2.8M from $1.9M in Q3 FY25
- Full-year operating income surged to $6.8M in FY25 from $518K in FY24
- Generated positive cash flow from operations in Q4
- Secured $15.9M in new orders after period end
- Backlog decreased to $16.2M from $26.2M in Q3 FY25 and $38.4M in Q4 FY24
- Q4 EPS declined to $0.25 from $0.35 in Q4 FY24
- Potential shareholder dilution risk from planned shelf registration statement
Insights
MIND Technology reports exceptional YoY operating income growth with continued profitability, strategic scale initiatives, despite declining backlog partially offset by new orders.
MIND Technology delivered strong financial performance in Q4 fiscal 2025, reporting revenue of
The company's full fiscal year 2025 results are particularly impressive, with operating income surging to
Cash flow generation remained positive, with the company ending the quarter with
One area of potential concern is the backlog decline to
Strategically, management has outlined plans to achieve greater scale – potentially through acquisitions, business combinations, or even considering an outright sale of the company. The retention of Lucid Capital Markets signals serious exploration of these options. While emphasizing no immediate capital needs, the planned shelf registration statement positions MIND to act opportunistically should financing be required for growth initiatives or acquisitions.
The consecutive quarterly profitability establishes a pattern that management believes will continue into fiscal 2026, supported by their backlog, business pipeline, and favorable market conditions.
Revenues from continuing operations for the fourth quarter of fiscal 2025 were approximately
The Company reported operating income from continuing operations of approximately
Adjusted EBITDA from continuing operations for the fourth quarter of fiscal 2025 was approximately
The backlog of Marine Technology Products as of January 31, 2025 related to our Seamap segment was approximately
Rob Capps, MIND's President and Chief Executive Officer, stated, "We are very pleased to report another solid quarter and continue our trend of profitability. While there will undoubtedly be quarterly fluctuations going forward, our backlog and pipeline of business and the general market tailwinds give us belief that this trend will continue into fiscal 2026. In the fourth quarter, we once again generated positive cash flow from operations and ended the quarter with cash on hand of approximately
"I am very pleased with where MIND is positioned today. We have stabilized the company, restored it to profitability and positioned ourselves to take advantage of opportunities within our existing and future markets," added Capps. "However, we are still a small company, which presents certain challenges. We believe that to maximize stockholder value, MIND needs additional scale. We have identified organic growth opportunities that could help grow the Company. However, we also believe there are several other ways to achieve additional scale, including acquiring assets or businesses, combining with other organizations, or even an outright sale of the Company. All of these options are open to us, and we intend to investigate and analyze them. To assist us with this effort, we have retained Lucid Capital Markets LLC.
"We currently do not see a need to raise additional capital and have no near-term plans to do so. However, we do think it prudent to prepare ourselves should a need arises in the future, such as in connection with financing internal growth projects or the purchase of assets or a business. Therefore, we intend to file a shelf registration statement with the Securities and Exchange Commission in the very near future. This will allow us to move quickly and efficiently should circumstances dictate," concluded Capps.
Any offer, solicitation or sale of any of the securities registered under the registration statement will be made only by means of the prospectus and the accompanying prospectus supplement once the registration statement is declared effective by the Securities and Exchange Commission ("SEC"). This press release does not constitute an offer to sell or a solicitation of an offer to buy securities, nor may there be any sale of the Company's common stock or other securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the effectiveness of the registration statement with the SEC and registration or qualification under the securities law of any state or jurisdiction.
CONFERENCE CALL
Management has scheduled a conference call for Wednesday, April 23, 2025 at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) to discuss the Company's fiscal 2025 fourth quarter and year-end results. To access the call, please dial (412) 902-0030 and ask for the MIND Technology call at least 10 minutes prior to the start time. Investors may also listen to the conference live on the MIND Technology website, http://mind-technology.com, by logging onto the site and clicking "Investor Relations". A telephonic replay of the conference call will be available through April 30, 2025, and may be accessed by calling (201) 612-7415 and using passcode 13751817#. A webcast archive will also be available at http://mind-technology.com shortly after the call and will be accessible for approximately 90 days. For more information, please contact Dennard Lascar Investor Relations by email at MIND@dennardlascar.com.
ABOUT MIND TECHNOLOGY
MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in
Forward-looking Statements
Certain statements and information in this press release concerning results for the quarter and year ended January 31, 2025 may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, and our objectives for future operations, are forward-looking statements. The words "believe," "expect," "anticipate," "plan," "intend," "should," "would," "could" or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. All comments concerning our expectations for future revenues and operating results are based on our forecasts of our existing operations and do not include the potential impact of any future acquisitions or dispositions. Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, without limitation, reductions in our customers' capital budgets, our own capital budget, limitations on the availability of capital or higher costs of capital, and volatility in commodity prices for oil and natural gas.
For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, unless required by law, whether as a result of new information, future events or otherwise. All forward-looking statements included in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to herein.
Non-GAAP Financial Measures
Certain statements and information in this press release contain non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with
-Tables to Follow-
MIND TECHNOLOGY, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) (unaudited) | ||||||||
January 31, | ||||||||
2025 | 2024 | |||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 5,336 | $ | 5,289 | ||||
Accounts receivable, net of allowance for credit losses of | 11,817 | 6,566 | ||||||
Inventories, net | 13,745 | 13,371 | ||||||
Prepaid expenses and other current assets | 1,217 | 3,113 | ||||||
Total current assets | 32,115 | 28,339 | ||||||
Property and equipment, net | 890 | 818 | ||||||
Operating lease right-of-use assets | 1,320 | 1,324 | ||||||
Intangible assets, net | 2,308 | 2,888 | ||||||
Deferred tax asset | 87 | 122 | ||||||
Total assets | $ | 36,720 | $ | 33,491 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 2,558 | $ | 1,623 | ||||
Deferred revenue | 189 | 203 | ||||||
Customer deposits | 1,603 | 3,446 | ||||||
Accrued expenses and other current liabilities | 1,245 | 2,140 | ||||||
Income taxes payable | 2,473 | 2,114 | ||||||
Operating lease liabilities - current | 577 | 751 | ||||||
Total current liabilities | 8,645 | 10,277 | ||||||
Operating lease liabilities - non-current | 743 | 573 | ||||||
Total liabilities | 9,388 | 10,850 | ||||||
Stockholders' equity: | ||||||||
Preferred stock, | — | 37,779 | ||||||
Common stock | 80 | 14 | ||||||
Additional paid-in capital | 135,666 | 113,121 | ||||||
Accumulated deficit | (108,448) | (128,307) | ||||||
Accumulated other comprehensive gain | 34 | 34 | ||||||
Total stockholders' equity | 27,332 | 22,641 | ||||||
Total liabilities and stockholders' equity | $ | 36,720 | $ | 33,491 | ||||
MIND TECHNOLOGY, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited) | ||||||||||||||||
For the Three Months | For the Twelve Months | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Revenues: | ||||||||||||||||
Sale of marine technology products | $ | 15,044 | $ | 13,378 | $ | 46,863 | $ | 36,510 | ||||||||
Cost of sales: | ||||||||||||||||
Sale of marine technology products | 8,494 | 7,137 | 25,896 | 20,539 | ||||||||||||
Gross profit | 6,550 | 6,241 | 20,967 | 15,971 | ||||||||||||
Operating expenses: | ||||||||||||||||
Selling, general and administrative | 2,986 | 2,982 | 11,291 | 12,142 | ||||||||||||
Research and development | 562 | 654 | 1,914 | 2,133 | ||||||||||||
Depreciation and amortization | 220 | 286 | 944 | 1,178 | ||||||||||||
Total operating expenses | 3,768 | 3,922 | 14,149 | 15,453 | ||||||||||||
Operating income | 2,782 | 2,319 | 6,818 | 518 | ||||||||||||
Other income (expense): | ||||||||||||||||
Other income (expense), net | (80) | (80) | 240 | (280) | ||||||||||||
Other (expense) income | (80) | (80) | 240 | (280) | ||||||||||||
Income from continuing operations before income taxes | 2,702 | 2,239 | 7,058 | 238 | ||||||||||||
Provision for income taxes | (671) | (748) | (1,984) | (1,338) | ||||||||||||
Income (loss) from continuing operations | 2,031 | 1,491 | 5,074 | (1,100) | ||||||||||||
Income (loss) from discontinued operations, net of income taxes | — | (50) | — | 1,374 | ||||||||||||
Net income | $ | 2,031 | $ | 1,441 | $ | 5,074 | $ | 274 | ||||||||
Gain on Preferred Stock conversion | $ | — | $ | — | $ | 14,785 | $ | — | ||||||||
Preferred stock dividends - declared | — | — | — | (946) | ||||||||||||
Preferred stock dividends - undeclared | — | (947) | (2,256) | (2,842) | ||||||||||||
Net income (loss) attributable to common stockholders | $ | 2,031 | $ | 494 | $ | 17,603 | $ | (3,514) | ||||||||
Net income (loss) per common share - Basic and diluted | ||||||||||||||||
Continuing operations | $ | 0.25 | $ | 0.39 | $ | 4.32 | $ | (3.48) | ||||||||
Discontinued operations | $ | — | $ | (0.04) | $ | — | $ | 0.98 | ||||||||
Net income (loss) | $ | 0.25 | $ | 0.35 | $ | 4.32 | $ | (2.50) | ||||||||
Shares used in computing loss per common share: | ||||||||||||||||
Basic | 7,969 | 1,406 | 4,078 | 1,406 | ||||||||||||
Diluted | 7,969 | 1,406 | 4,078 | 1,406 | ||||||||||||
MIND TECHNOLOGY, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) | ||||||||
Year Ended January 31, | ||||||||
2025 | 2024 | |||||||
Cash flows from operating activities: | ||||||||
Net income | $ | 5,074 | $ | 274 | ||||
Depreciation and amortization | 944 | 1,516 | ||||||
Stock-based compensation | 235 | 261 | ||||||
Gain on sale of Klein | — | (2,343) | ||||||
Provision for inventory obsolescence | 68 | 341 | ||||||
Gross profit from sale of other equipment | (457) | (476) | ||||||
Deferred tax benefit | 35 | (153) | ||||||
Changes in: | ||||||||
Accounts receivable | (5,246) | (3,343) | ||||||
Unbilled revenue | (7) | 25 | ||||||
Inventories | (441) | (3,601) | ||||||
Income taxes receivable and payable | 360 | 635 | ||||||
Accounts payable, accrued expenses and other current liabilities | 45 | (334) | ||||||
Prepaid expenses and other current and long-term assets | 1,897 | (847) | ||||||
Deferred revenue | (1,856) | 3,078 | ||||||
Net cash provided by (used in) operating activities | 651 | (4,967) | ||||||
Cash flows from investing activities: | ||||||||
Purchases of property and equipment | (437) | (290) | ||||||
Sale of other assets | 457 | 476 | ||||||
Proceeds from the sale of Klein, net | — | 10,832 | ||||||
Net cash provided by investing activities | 20 | 11,018 | ||||||
Cash flows from financing activities: | ||||||||
Net proceeds from short-term loan | — | 2,947 | ||||||
Payment on short-term loan | — | (3,750) | ||||||
Refund of prepaid interest on short-term loan | — | 214 | ||||||
Preferred stock conversion transaction costs | (619) | — | ||||||
Preferred stock dividends | — | (946) | ||||||
Net cash used in financing activities | (619) | (1,535) | ||||||
Effect of changes in foreign exchange rates on cash and cash equivalents | (5) | (5) | ||||||
Net increase in cash and cash equivalents | 47 | 4,511 | ||||||
Cash and cash equivalents, beginning of period | 5,289 | 778 | ||||||
Cash and cash equivalents, end of period | $ | 5,336 | $ | 5,289 | ||||
MIND TECHNOLOGY, INC. Reconciliation of Net Loss From Continuing Operations and Net Cash Used in Operating Activities to EBITDA and Adjusted EBITDA From Continuing Operations (in thousands) (unaudited) | ||||||||||||||||
For the Three Months | For the Twelve Months | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
(in thousands) | (in thousands) | |||||||||||||||
Reconciliation of Net Income to EBITDA and Adjusted EBITDA | ||||||||||||||||
Net income | $ | 2,031 | $ | 1,441 | $ | 5,074 | $ | 274 | ||||||||
Interest expense, net | $ | — | $ | 98 | $ | — | $ | 634 | ||||||||
Depreciation and amortization | 220 | 286 | 944 | 1,516 | ||||||||||||
Provision for income taxes | 671 | 742 | 1,984 | 1,355 | ||||||||||||
EBITDA | 2,922 | 2,567 | 8,002 | 3,779 | ||||||||||||
(Income) loss from discontinued operations net of depreciation and | — | 54 | — | (1,729) | ||||||||||||
Stock-based compensation | 95 | (3) | 235 | 261 | ||||||||||||
Adjusted EBITDA from continuing operations (1) | $ | 3,017 | $ | 2,618 | $ | 8,237 | $ | 2,311 | ||||||||
Reconciliation of Net Cash Provided by (Used In) Operating | ||||||||||||||||
Net cash provided by (used in) operating activities | $ | 2,058 | $ | 657 | $ | 651 | $ | (4,967) | ||||||||
Stock-based compensation | (95) | 3 | (235) | (261) | ||||||||||||
Provision for inventory obsolescence | (1) | (318) | (68) | (341) | ||||||||||||
Changes in accounts receivable (current and long-term) | 2,411 | 2,681 | 5,253 | 3,318 | ||||||||||||
Interest paid | — | 98 | — | 634 | ||||||||||||
Taxes paid, net of refunds | 243 | 230 | 1,654 | 847 | ||||||||||||
Gain on sale of other equipment | — | 91 | 457 | 476 | ||||||||||||
Gain on the sale of Klein | — | (50) | — | 2,343 | ||||||||||||
Changes in inventory | (3,503) | 427 | 441 | 3,601 | ||||||||||||
Changes in accounts payable, accrued expenses and other current | 1,621 | (2,674) | 1,811 | (2,744) | ||||||||||||
Changes in prepaid expenses and other current and long-term assets | 179 | 1,413 | (1,897) | 847 | ||||||||||||
Other | 9 | 9 | (65) | 26 | ||||||||||||
EBITDA (1) | $ | 2,922 | $ | 2,567 | $ | 8,002 | $ | 3,779 | ||||||||
1. | EBITDA and Adjusted EBITDA are non-GAAP financial measures. EBITDA is defined as net income before (a) interest income and interest expense, (b) provision for (or benefit from) income taxes and (c) depreciation and amortization. Adjusted EBITDA excludes non-cash foreign exchange gains and losses, stock-based compensation, impairment of intangible assets, other non-cash tax related items and non-cash costs of lease pool equipment sales. We consider EBITDA and Adjusted EBITDA to be important indicators for the performance of our business, but not measures of performance or liquidity calculated in accordance with GAAP. We have included these non-GAAP financial measures because management utilizes this information for assessing our performance and liquidity, and as indicators of our ability to make capital expenditures, service debt and finance working capital requirements and we believe that EBITDA and Adjusted EBITDA are measurements that are commonly used by analysts and some investors in evaluating the performance and liquidity of companies such as us. In particular, we believe that it is useful to our analysts and investors to understand this relationship because it excludes transactions not related to our core cash operating activities. We believe that excluding these transactions allows investors to meaningfully trend and analyze the performance of our core cash operations. EBITDA and Adjusted EBITDA are not measures of financial performance or liquidity under GAAP and should not be considered in isolation or as alternatives to cash flow from operating activities or net income as indicators of operating performance or any other measures of performance derived in accordance with GAAP. In evaluating our performance as measured by EBITDA, management recognizes and considers the limitations of this measurement. EBITDA and Adjusted EBITDA do not reflect our obligations for the payment of income taxes, interest expense or other obligations such as capital expenditures. Accordingly, EBITDA and Adjusted EBITDA are only two of the measurements that management utilizes. Other companies in our industry may calculate EBITDA or Adjusted EBITDA differently than we do and EBITDA and Adjusted EBITDA may not be comparable with similarly titled measures reported by other companies. |
Contacts: | Rob Capps, President & CEO MIND Technology, Inc. 281-353-4475 | |
Ken Dennard / Zach Vaughan Dennard Lascar Investor Relations 713-529-6600 |
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SOURCE MIND Technology, Inc.
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