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THE WOODLANDS, Texas - MIND Technology, Inc. (NASDAQ:MIND), a provider of marine exploration and survey equipment, has secured an order exceeding $4 million from Sanco Holdings A/S for its GunLink source controller and related equipment. The order is slated for delivery within the current fiscal year. The company, which has seen its stock surge over 13% in the past week and maintains a healthy current ratio of 3.71, continues to demonstrate strong market momentum.According to InvestingPro analysis, MIND Technology appears undervalued based on its Fair Value calculations, with 8 additional exclusive insights available to subscribers.
The GunLink source controller technology, designed by MIND’s Seamap unit, is an integral component for marine seismic data collection. Mark Welker, Vice President of MIND and Seamap Managing Director, expressed confidence in the continued demand for their technology, noting opportunities for the company in the remaining fiscal year and beyond. This confidence appears well-founded, as the company has achieved impressive revenue growth of 28.36% over the last twelve months, with a robust gross profit margin of 44.74%.
MIND Technology operates globally, with significant presences in the United States, Singapore, Malaysia, and the United Kingdom. The company serves various industries, including oceanographic, hydrographic, defense, seismic, and security.
The announcement comes with the usual caution regarding forward-looking statements, reminding investors that such statements are based on current expectations and involve risks and uncertainties. The company’s future results may differ due to factors like changes in customers’ capital budgets, availability of capital, and fluctuations in commodity prices for oil and natural gas.
This order reflects the company’s ongoing business strategy and plans, which include targeting future operations and securing subsequent orders. MIND Technology has emphasized that the information provided is based on a press release statement, and it has not offered any further comment on the potential impact of this order on its financial position or market strategy.
In other recent news, MIND Technology, Inc. reported a significant improvement in its financial performance for the fourth quarter of 2025. The company achieved a full-year revenue of $46.9 million, marking a 28% increase from the previous year. Net income from continuing operations reached $5.1 million, a notable turnaround from a $1.1 million loss in 2024. Additionally, the company’s marine technology product revenues rose by 12% year-over-year in the fourth quarter. MIND Technology has also announced a change in its independent registered public accounting firm following the merger of its auditor, Moss Adams LLP, with Baker Tilly US, LLP. The Audit Committee has approved Baker Tilly as the new auditor. Furthermore, MIND Technology has set deadlines for shareholder proposals and director nominations for its 2025 Annual Meeting of Stockholders, which will be conducted virtually. These developments reflect MIND Technology’s strategic focus on enhancing its financial performance and corporate governance.
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