Mind Technology, Inc. $(MIND)$ reported its fiscal 2026 first-quarter results, showing a decrease in revenues to approximately $7.9 million, compared to $15.0 million in the previous quarter and $9.7 million in the same quarter of the previous year. The company also posted an operating loss of about $658,000 for the quarter, down from an operating income of $2.8 million in the fourth quarter of fiscal 2025 and $730,000 in the first quarter of fiscal 2025. The net loss for the first quarter was $970,000, contrasting with a net income of $2.0 million in the previous quarter and a net loss of $954,000 in the corresponding quarter last year. Adjusted EBITDA from continuing operations reflected a loss of approximately $179,000, compared to an income of $3.0 million in the fourth quarter of fiscal 2025 and $1.5 million in the first quarter of fiscal 2025. The company experienced an increase in general and administrative costs due to non-recurring expenses related to the reorganization of its U.K. operations and a third-party analysis of its income tax position following last year's preferred stock conversion. MIND Technology's backlog of Marine Technology Products as of April 30, 2025, was approximately $21.1 million, up from $16.2 million at the end of January 2025 but down from $31 million a year ago. Looking forward, the company remains optimistic about future opportunities, emphasizing the strength of its balance sheet and its strategic focus on growth and value enhancement.