Sonar systems maker Mind Technology's Q3 net income drops

Reuters

Dec 10, 2025

Sonar systems maker Mind Technology's Q3 net income drops

Overview

Marine technology provider's fiscal Q3 revenue fell yr/yr
Net income for fiscal Q3 decreased yr/yr
Company improved liquidity with $19.4 mln in cash

Outlook

Mind Technology expects fourth-quarter improvement from third-quarter results
Company highlights strong liquidity position with $36 mln in working capital
Mind Technology maintains debt-free balance sheet for fiscal flexibility

Result Drivers

AFTER-MARKET ACTIVITY - Strong after-market activity accounted for 64% of revenues in the first nine months, contributing to profitability
LIQUIDITY IMPROVEMENT - Improved liquidity with $19.4 mln in cash and $36.0 mln in working capital, providing flexibility for growth

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Net Income		$62,000

Analyst Coverage

The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the oil related services and equipment peer group is "buy."
Wall Street's median 12-month price target for Mind Technology Inc is $10.00, about 5.4% below its December 8 closing price of $10.57

Press Release: ID:nPn6ZRPS8a

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}