MIND on Nasdaq
MIND TECHNOLOGY, INC
American search company, incorporated in Delaware, listed on Nasdaq (MIND). Summary from the record
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Last updated Oct 19, 2026.
Overview
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- TickerMIND on Nasdaq1
- IndustrySearch, Detection, Navigation, Guidance, Aeronautical Sys1
- HeadquartersThe Woodlands, Texas1
- Incorporated inDE3
- Business address2002 Timberloch Place, Suite 400, The Woodlands, Tx 77380-11873
- Filer categoryNon-accelerated filer, Smaller reporting company3
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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.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2026
45.6%Gross margin2
7.0%Operating margin2
1.8%Net margin2
-12.6%Revenue growth, 20262
1.8%Return on equity2
$1.9MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Regions
NO brought in 52% of the revenue MIND TECHNOLOGY, INC broke down this way in fiscal 2026.
Regions by year
| Regions | 2025 | 2026 |
|---|---|---|
| NO | $22.0M | $21.1M |
| China | $17.7M | $10.9M |
| United States | $2.5M | $3.0M |
| Other Countries | $3.4M | $2.7M |
| T R | $634.0K | $2.1M |
| Japan | $340.0K | $1.1M |
Where the money goes
Where each dollar of revenue went, fiscal 2026
- Research and development4¢$1.6M
- Selling, general and admin33¢$13.3M
- Other costs56¢$23.1M
- Income tax5¢$2.2M
- Profit2¢$750.0K
Out of $40.9M in revenue.2
Where each dollar of operating cash went, fiscal 2026
- Capital spending26¢$663.0K
- Kept or used elsewhere74¢$1.9M
Out of $2.6M of cash from operations.2
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.2
| Period ending | 2026-01-31 | 2025-01-31 |
|---|---|---|
| Sale of marine technology products | $40.9M | $46.9M |
| Sale of marine technology products | $22.3M | $25.9M |
| Gross profit | $18.7M | $21.0M |
| Selling, general and administrative | $13.3M | $11.3M |
| Research and development | $1.6M | $1.9M |
| Depreciation and amortization | $873.0K | $944.0K |
| Total operating expenses | $15.8M | $14.1M |
| Operating income | $2.9M | $6.8M |
| Other income | $43.0K | $240.0K |
| Income before income taxes | $2.9M | $7.1M |
| Provision for income taxes | -$2.2M | -$2.0M |
| Net income | $750.0K | $5.1M |
| Gain on Preferred Stock conversion | $0 | $14.8M |
| Preferred stock dividends - undeclared | $0 | -$2.3M |
| Net income attributable to common stockholders | $750.0K | $17.6M |
| Net income per common share - Basic and diluted (in dollars per share) | $0.09 | $4.32 |
| Basic (in shares) | 8.3M shares | 4.1M shares |
| Diluted (in shares) | 8.3M shares | 4.1M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.2
| Period ending | 2026-01-31 | 2025-01-31 | 2024-08-31 | 2024-01-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $19.1M | $5.3M | ||
| Accounts receivable, net of allowance for credit losses of $332 at January 31, 2026 and 2025 | $12.6M | $11.8M | $6.6M | |
| Inventories, net | $11.2M | $13.7M | ||
| Prepaid expenses and other current assets | $2.1M | $1.2M | ||
| Total current assets | $44.9M | $32.1M | ||
| Net book value of property and equipment | $1.2M | $890.0K | ||
| Operating lease right-of-use assets | $1.1M | $1.3M | ||
| Intangible assets, net | $1.8M | $2.3M | ||
| Deferred tax asset | $302.0K | $87.0K | ||
| Total assets | $49.3M | $36.7M | ||
| Accounts payable | $1.2M | $2.6M | ||
| Deferred revenue | $320.0K | $189.0K | ||
| Customer deposits | $971.0K | $1.6M | ||
| Accrued expenses and other current liabilities | $1.6M | $1.2M | ||
| Income taxes payable | $2.7M | $2.5M | ||
| Operating lease liabilities - current | $686.0K | $577.0K | ||
| Total current liabilities | $7.4M | $8.6M | ||
| Operating lease liabilities - non-current | $406.0K | $743.0K | ||
| Total liabilities | $7.8M | $9.4M | ||
| Preferred stock, $1.00 par value; 2,000 shares authorized; no shares issued and outstanding at January 31, 2026 and January 31, 2025, respectively | $0 | $0 | ||
| Common stock $0.01 par value; 40,000 shares authorized; 9,089 and 7,969 shares issued and outstanding at January 31, 2026 and 2025, respectively | $91.0K | $80.0K | ||
| Additional paid-in capital | $149.0M | $135.7M | ||
| Accumulated deficit | -$107.7M | -$108.4M | ||
| Accumulated other comprehensive gain | $34.0K | $34.0K | ||
| Total stockholders equity | $41.4M | $27.3M | $22.6M | |
| Total liabilities and stockholders equity | $49.3M | $36.7M | ||
| Allowance for credit losses | $332.0K | $332.0K | $332.0K | |
| Preferred stock, par value (in dollars per share) | $1.00 | $1.00 | $1.00 | |
| Preferred stock, authorized (in shares) | 2.0M shares | 2.0M shares | ||
| Preferred stock, issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | $0.01 | |
| Common stock, authorized (in shares) | 40.0M shares | 40.0M shares | ||
| Common stock, issued (in shares) | 9.1M shares | 8.0M shares | ||
| Common stock, outstanding (in shares) | 9.1M shares | 8.0M shares |
| Period ending | 2026-01-31 | 2025-01-31 | 2024-08-31 | 2024-01-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $19.1M | $5.3M | ||
| Accounts receivable, net of allowance for credit losses of $332 at January 31, 2026 and 2025 | $12.6M | $11.8M | $6.6M | |
| Inventories, net | $11.2M | $13.7M | ||
| Prepaid expenses and other current assets | $2.1M | $1.2M | ||
| Total current assets | $44.9M | $32.1M | ||
| Net book value of property and equipment | $1.2M | $890.0K | ||
| Operating lease right-of-use assets | $1.1M | $1.3M | ||
| Intangible assets, net | $1.8M | $2.3M | ||
| Deferred tax asset | $302.0K | $87.0K | ||
| Total assets | $49.3M | $36.7M | ||
| Accounts payable | $1.2M | $2.6M | ||
| Deferred revenue | $320.0K | $189.0K | ||
| Customer deposits | $971.0K | $1.6M | ||
| Accrued expenses and other current liabilities | $1.6M | $1.2M | ||
| Income taxes payable | $2.7M | $2.5M | ||
| Operating lease liabilities - current | $686.0K | $577.0K | ||
| Total current liabilities | $7.4M | $8.6M | ||
| Operating lease liabilities - non-current | $406.0K | $743.0K | ||
| Total liabilities | $7.8M | $9.4M | ||
| Preferred stock, $1.00 par value; 2,000 shares authorized; no shares issued and outstanding at January 31, 2026 and January 31, 2025, respectively | $0 | $0 | ||
| Common stock $0.01 par value; 40,000 shares authorized; 9,089 and 7,969 shares issued and outstanding at January 31, 2026 and 2025, respectively | $91.0K | $80.0K | ||
| Additional paid-in capital | $149.0M | $135.7M | ||
| Accumulated deficit | -$107.7M | -$108.4M | ||
| Accumulated other comprehensive gain | $34.0K | $34.0K | ||
| Total stockholders equity | $41.4M | $27.3M | $22.6M | |
| Total liabilities and stockholders equity | $49.3M | $36.7M | ||
| Allowance for credit losses | $332.0K | $332.0K | $332.0K | |
| Preferred stock, par value (in dollars per share) | $1.00 | $1.00 | $1.00 | |
| Preferred stock, authorized (in shares) | 2.0M shares | 2.0M shares | ||
| Preferred stock, issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | $0.01 | |
| Common stock, authorized (in shares) | 40.0M shares | 40.0M shares | ||
| Common stock, issued (in shares) | 9.1M shares | 8.0M shares | ||
| Common stock, outstanding (in shares) | 9.1M shares | 8.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.2
| Period ending | 2026-01-31 | 2025-01-31 |
|---|---|---|
| Net income | $750.0K | $5.1M |
| Depreciation and amortization | $873.0K | $944.0K |
| Stock-based compensation | $1.6M | $235.0K |
| Provision for inventory obsolescence | $227.0K | $68.0K |
| Deferred tax expense (benefit) | -$215.0K | $35.0K |
| Accounts receivable | -$735.0K | -$5.2M |
| Unbilled revenue | -$20.0K | -$7.0K |
| Inventories | $2.4M | -$441.0K |
| Income taxes receivable and payable | $183.0K | $360.0K |
| Accounts payable, accrued expenses and other current liabilities | -$2.0M | $45.0K |
| Prepaid expenses and other current and long-term assets | -$895.0K | $1.9M |
| Deferred revenue and customer deposits | $501.0K | -$1.9M |
| Net cash provided by operating activities | $2.6M | $651.0K |
| Purchases of property and equipment | -$663.0K | -$437.0K |
| Sale of other assets | $0 | $457.0K |
| Net cash (used in) provided by investing activities | -$663.0K | $20.0K |
| Preferred stock conversion transaction costs | $0 | -$619.0K |
| Proceeds from issuance of common stock, net | $11.8M | $0 |
| Net cash provided by (used in) financing activities | $11.8M | -$619.0K |
| Net increase in cash and cash equivalents | $13.7M | $47.0K |
| Effect of changes in foreign exchange rates on cash and cash equivalents | $6.0K | -$5.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led MIND TECHNOLOGY, INC, and when. Pick a name to see everywhere that person has worked.
Chief financial officer
Chief operating officer
2010201520202025
- Chief executive officerGuy Malden Feb 17, 2017 to Aug 9, 202114
- Chief executive officerRobert P. Capps Feb 17, 2017 to now15
- Chief executive officerBilly F. Mitcham Jr. Apr 4, 2006 to May 29, 201516
- PresidentRobert P. Capps Aug 5, 2022 to now17
- PresidentBilly F. Mitcham Jr. Apr 4, 2006 to May 29, 201516
- Chief financial officerMark Alan Cox Aug 5, 2022 to now18
- Chief financial officerMichael A. Pugh Apr 4, 2006 to Apr 4, 200619
- Chief financial officerRobert P. Capps Jun 27, 2006 to Aug 9, 202120
- Chief operating officerDennis Patrick Morris Apr 23, 2020 to Aug 9, 202121
Board members and other officers (13)
- Principal Accounting OfficerMark Alan Cox May 18, 2017 to Aug 9, 202122
- VP- Marine SystemsGuy Malden Apr 4, 2006 to Jan 14, 201623
- VP - Business DevelopmentPaul Guy Rogers Apr 4, 2006 to Jun 21, 201624
- Board memberAlan Perry Baden May 3, 2022 to now25
- Board memberNancy Jean Harned May 3, 2022 to Aug 5, 202226
- Board memberWilliam Hunter Hilarides Aug 23, 2019 to now27
- Board memberMarcus C. Rowland Sep 16, 2015 to Aug 9, 202128
- Board memberThomas S. Glanville Sep 16, 2015 to now29
- Board memberRobert John Albers Feb 1, 2008 to Aug 9, 202130
- Board memberRobert P. Capps Jan 26, 2006 to Jan 22, 202531
- Board memberR. Dean Lewis Jan 30, 2006 to Jul 31, 201932
- Board memberBilly F. Mitcham Jr. Apr 4, 2006 to May 29, 201516
- Board memberJohn F. Schwalbe Apr 28, 2006 to May 29, 201533
Former names
- MITCHAM INDUSTRIES INCJun 20, 1996 to Aug 7, 20203
Timeline
Filings
167 filings to the SEC since October 2021: 7 annual reports, 15 quarterly reports, 64 major events, 40 insider forms, 2 large holders, 39 other. The latest 20:
- Sep 9, 202610-Q EDGAR
- Sep 8, 20268-K EDGAR
- Jul 31, 20264 EDGAR
- Jul 31, 20264 EDGAR
- Jul 31, 20264 EDGAR
- Jul 31, 20264 EDGAR
- Jul 31, 20264 EDGAR
- Jul 31, 20264 EDGAR
- Jul 23, 20268-K EDGAR
- Jun 11, 202610-Q EDGAR
- Jun 10, 20268-K EDGAR
- Jun 1, 2026ARS EDGAR
- Jun 1, 2026DEF 14A EDGAR
- Apr 20, 202610-K EDGAR
- Apr 15, 20268-K EDGAR
- Dec 11, 202510-Q EDGAR
- Dec 9, 20258-K EDGAR
- Oct 8, 20254 EDGAR
- Oct 8, 20254 EDGAR
- Oct 8, 20254 EDGAR
The 167 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
9 open-market trades by officers, directors and large owners since October 2021: 9 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jul 18, 2022 | BLUM PETER HDirector | Buy | 8,000 | $7.12 | $57.0K | Form 4 |
| Jul 15, 2022 | BLUM PETER HDirector | Buy | 10,000 | $7.27 | $72.7K | Form 4 |
| Jun 23, 2022 | BLUM PETER HDirector | Buy | 12,000 | $3.07 | $36.8K | Form 4 |
| Jun 22, 2022 | BLUM PETER HDirector | Buy | 10,000 | $0.85 | $8.5K | Form 4 |
| Jun 21, 2022 | BLUM PETER HDirector | Buy | 10,000 | $0.87 | $8.7K | Form 4 |
| Jun 16, 2022 | BLUM PETER HDirector | Buy | 1,696 | $12.64 | $21.4K | Form 4 |
| Dec 16, 2021 | BLUM PETER HDirector | Buy | 50,000 | $1.50 | $75.0K | Form 4 |
| Oct 29, 2021 | BLUM PETER HDirector | Buy | 10,000 | $1.72 | $17.2K | Form 4 |
| Oct 28, 2021 | BLUM PETER HDirector | Buy | 10,000 | $1.70 | $17.0K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- VANGUARD GROUP INCSC 13G/A, 1 filing Feb 10, 202234
- ARIEL INVESTMENTS, LLCSC 13G/A, 1 filing Nov 10, 202135
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 55. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Vanguard Capital Management LLC | 373,107 | $1.8M | 0.0% | +63,470 |
| Geode Capital Management, LLC | 100,923 | $476.6K | 0.0% | −813 |
| BlackRock, Inc. | 79,281 | $374.2K | 0.0% | +8,865 |
| Dimensional Fund Advisors LP | 61,307 | $289.4K | 0.0% | −2,233 |
| Stratos Wealth Partners, LTD. | 59,203 | $279.4K | 0.0% | −3,560 |
| Vanguard Fiduciary Trust Co | 58,930 | $278.1K | 0.0% | +9,782 |
| Commonwealth Equity Services, LLC | 53,014 | $250.2K | 0.0% | −1,820 |
| ARS Investment Partners, LLC | 50,348 | $237.6K | 0.0% | −27,934 |
| LPL Financial LLC | 49,093 | $231.7K | 0.0% | +843 |
| Kingsview Wealth Management, LLC | 39,574 | $186.8K | 0.0% | −471 |
| State Street Corp | 36,902 | $174.2K | 0.0% | No change |
| Jane Street Group, LLC | 30,900 | $145.8K | 0.0% | +16,430 |
| Cerity Partners LLC | 27,377 | $129.2K | 0.0% | +100 |
| UBS Group AG | 27,017 | $127.5K | 0.0% | −12,028 |
| Citadel Advisors LLC | 26,993 | $127.4K | 0.0% | +16,340 |
| Arax Advisory Partners | 23,060 | $108.8K | 0.0% | New |
| Focus Partners Wealth | 21,268 | $100.4K | 0.0% | New |
| Northern Trust Corp | 20,083 | $94.8K | 0.0% | +3,015 |
| Evergreen Capital Management LLC | 18,912 | $89.3K | 0.0% | No change |
| Brighton Jones LLC | 18,448 | $87.1K | 0.0% | No change |
| Cetera Investment Advisers | 16,053 | $75.8K | 0.0% | +5,632 |
| Susquehanna International Group, Llp | 12,355 | $58.3K | 0.0% | New |
| RBF Capital, LLC | 12,238 | $57.8K | 0.0% | No change |
| Arkadios Wealth Advisors | 12,171 | $57.4K | 0.0% | +441 |
| HUB Investment Partners, LLC | 10,000 | $47.2K | 0.0% | No change |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
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- 14SEC EDGARGuy Malden, Chief executive officer
- 15
- 16
- 17SEC EDGARRobert P. Capps, President
- 18
- 19
- 20
- 21
- 22
- 23SEC EDGARGuy Malden, VP- Marine Systems
- 24
- 25SEC EDGARAlan Perry Baden, Board member
- 26SEC EDGARNancy Jean Harned, Board member
- 27
- 28SEC EDGARMarcus C. Rowland, Board member
- 29SEC EDGARThomas S. Glanville, Board member
- 30SEC EDGARRobert John Albers, Board member
- 31SEC EDGARRobert P. Capps, Board member
- 32SEC EDGARR. Dean Lewis, Board member
- 33SEC EDGARJohn F. Schwalbe, Board member
- 34
- 35