Mind Technology FY27 Q2 net loss widens to $1.7 million; revenue drops 41.99% to $5.6 million vs FY27 Q1

• Mind Technology posted Q2 revenue of USD 5.6 million, down 42.3% from Q1’s USD 9.7 million and down 58.8% year over year.
• GAAP net loss widened to USD 1.7 million, or USD 0.19 per share, from a USD 411,000 loss in Q1.
• GAAP operating results swung to a USD 1.8 million loss from operating income of USD 14,000 in Q1.
• Non-GAAP adjusted EBITDA turned to a USD 949,000 loss from USD 811,000 in Q1.
• Seamap backlog fell to USD 4.8 million from USD 7.6 million at April 30; after-market revenue was about 87% of total.

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