MIND Technology (MIND) Corporate presentation summary

Market positioning and industry trends

• Supplies technology for marine exploration, survey, and maritime security, with a leading position in seismic source controllers and GNSS positioning systems.

• Industry tailwinds include rising offshore energy capex, energy security concerns, and growth in alternative energy sectors like offshore wind and carbon capture.

• Recognized as a market leader with a robust pipeline and global presence, including facilities in the US, UK, Malaysia, and Singapore.

Financial performance and capital structure

• Revenue grew from $25.0M in FY23 to $46.9M in FY24, with gross profit rising to $20.97M in FY26.

• Adjusted EBITDA improved to $8.2M in FY26, reflecting operational efficiency.

• No outstanding debt, streamlined capital structure, and significant working capital with $17.7M in cash as of April 2026.

• Fiscal 1Q27 saw a net loss of $0.4M, but adjusted EBITDA was positive at $0.8M.

Strategic initiatives and growth opportunities

• Sold Klein Sonar unit, eliminated debt, and converted all preferred stock to common, improving balance sheet flexibility.

• Raised $12M through ATM program in FY26 and launched a stock buyback program.

• Filed shelf registration to enable rapid capital access for growth or acquisitions.

• Retained Lucid Capital Markets to identify and analyze growth opportunities.