THE
WOODLANDS, Texas, Dec. 10,
2024 /PRNewswire/ -- MIND Technology, Inc.
(NASDAQ: MIND) ("MIND" or the "Company") today announced financial
results for its fiscal 2025 third quarter ended October 31, 2024.
Revenues from continuing operations for the third quarter of
fiscal 2025 were approximately $12.1
million compared to approximately $5.0 million in the third quarter of fiscal 2024.
The Company reported operating income from continuing operations of
approximately $1.9 million for the
third quarter of fiscal 2025 compared to an operating loss of
$1.5 million for the third quarter of
fiscal 2024. Net income for the third quarter of fiscal 2025
amounted to $1.3 million compared to
$568,000 in the third quarter of
fiscal 2024. Third quarter of fiscal 2025 net income attributable
to common shareholders (after the effect of the conversion of
preferred stock into common stock) was $15.7
million, or $2.87 per share
compared to a loss of $379,000, or a
loss of $0.27 per share in the third
quarter last year. Adjusted EBITDA from continuing operations for
the third quarter of fiscal 2025 was approximately $2.0 million compared to a loss of $1.1 million in the third quarter of fiscal
2024.
Adjusted EBITDA from continuing operations, which is a
non-GAAP measure, is defined and reconciled to reported net income
(loss) and cash provided by (used in) operating activities in the
accompanying financial tables. These are the most directly
comparable financial measures calculated and presented in
accordance with United States
generally accepted accounting principles, or GAAP.
The backlog of Marine Technology Products related to our Seamap
segment as of October 31, 2024 was
approximately $26.2 million which was
flat sequentially compared to backlog as of July 31, 2024.
Rob Capps, MIND's President and
Chief Executive Officer, stated, "We are very pleased to report
that third quarter revenue grew 21% sequentially and 143% over last
year's third quarter. We continue to capitalize on macro tailwinds
and customer engagement to stimulate order flow and generate
improved results. We are also continually working to improve our
execution, efficiency and cost structure, which we expect to
contribute to sustained profitability in future quarters. As in the
second quarter, we generated positive cash flow from operations in
this quarter, increasing our cash balance to $3.5 million as of October
31, 2024.
"We have begun our fiscal fourth quarter with a strong backlog
of approximately $26.2 million,
essentially flat compared to our second quarter. Looking closer,
however, we made substantial order deliveries during the third
quarter that contributed to our 21% sequential revenue growth, and
we were able to balance this growth with new orders. We expect this
trend to continue in future periods and have an active pipeline of
pending orders and other prospects that total more than twice our
backlog of orders received. The combination of our improved capital
structure, encouraging business environment, robust backlog and
exceptional pipeline of opportunities gives us confidence for
improved financial results in the coming quarters and fiscal year,"
concluded Capps.
CONFERENCE CALL
Management has scheduled a conference call for Wednesday, December 11, 2024 at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) to discuss the Company's
fiscal 2025 third quarter results. To access the call, please
dial (412) 902-0030 and ask for the MIND Technology call at least
10 minutes prior to the start time. Investors may also listen
to the conference call live on the MIND Technology website,
http://mind-technology.com, by logging onto the site and clicking
"Investor Relations". A telephonic replay of the conference call
will be available through December 18,
2024 and may be accessed by calling (201) 612-7415 and using
passcode 13750138#. A webcast archive will also be available
at http://mind-technology.com shortly after the call and will be
accessible for approximately 90 days. For more information,
please contact Dennard Lascar
Investor Relations by email at MIND@dennardlascar.com.
ABOUT MIND TECHNOLOGY
MIND Technology, Inc. provides technology to the oceanographic,
hydrographic, defense, seismic and 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. Its Seamap unit designs,
manufactures and sells specialized, high performance, marine
exploration and survey equipment.
Forward-looking Statements
Certain statements and information in this press release
concerning results for the quarter ended October 31, 2024 may constitute
"forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. All statements
contained in this press release other than statements of historical
fact, including statements regarding our future results of
operations and financial position, our business strategy and plans,
and our objectives for future operations, are forward-looking
statements. The words
"believe," "expect," "anticipate," "plan," "intend," "should," "would," "could"
or other similar expressions are intended to identify
forward-looking statements, which are generally not historical in
nature. These forward-looking statements are based on
our current expectations and beliefs concerning future developments
and their potential effect on us. While management
believes that these forward-looking statements are reasonable as
and when made, there can be no assurance that future developments
affecting us will be those that we anticipate. All
comments concerning our expectations for future revenues and
operating results are based on our forecasts of our existing
operations and do not include the potential impact of any future
acquisitions or dispositions. Our forward-looking
statements involve significant risks and uncertainties (some of
which are beyond our control) and assumptions that could cause
actual results to differ materially from our historical experience
and our present expectations or projections. These risks and
uncertainties include, without limitation, reductions in our
customers' capital budgets, our own capital budget,
limitations on the availability of capital or higher costs of
capital and volatility in commodity prices for oil and natural
gas.
For additional information regarding known material factors
that could cause our actual results to differ from our projected
results, please see our filings with the SEC, including our Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K.
Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date
hereof. We undertake no obligation to publicly update
or revise any forward-looking statements after the date they are
made, unless required by law, whether as a result of new
information, future events or otherwise. All forward-looking
statements included in this press release are expressly qualified
in their entirety by the cautionary statements contained or
referred to herein.
Non-GAAP Financial Measures
Certain statements and information in this press release
contain non-GAAP financial measures. Generally, a non-GAAP
financial measure is a numerical measure of a company's
performance, financial position, or cash flows that either excludes
or includes amounts that are not normally excluded or included in
the most directly comparable measure calculated and presented in
accordance with United States
generally accepted accounting principles, or GAAP.
Company management believes that these non-GAAP financial
measures, when considered together with the GAAP financial
measures, provide information that is useful to investors in
understanding period-over-period operating results separate and
apart from items that may, or could, have a disproportionately
positive or negative impact on results in any particular period.
Company management also believes that these non-GAAP financial
measures enhance the ability of investors to analyze the Company's
business trends and to understand the Company's performance. In
addition, the Company may utilize non-GAAP financial measures as
guides in its forecasting, budgeting, and long-term planning
processes and to measure operating performance for some management
compensation purposes. Any analysis of non-GAAP financial measures
should be used only in conjunction with results presented in
accordance with GAAP. Reconciliation of Backlog, which
is a non-GAAP financial measure, is not included in this press
release due to the inherent difficulty and impracticality of
quantifying certain amounts that would be required to calculate the
most directly comparable GAAP financial measures.
-Tables to Follow-
|
MIND TECHNOLOGY,
INC.
CONDENSED
CONSOLIDATED BALANCE SHEETS
(in thousands,
except per share data)
(unaudited)
|
|
|
|
October
31,
2024
|
|
|
January
31,
2024
|
|
|
ASSETS
|
|
|
Current
assets:
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
3,505
|
|
|
$
|
5,289
|
|
|
Accounts receivable,
net of allowance for credit losses of $332 at each of October
31,
2024 and January 31, 2024
|
|
|
9,471
|
|
|
|
6,566
|
|
|
Inventories,
net
|
|
|
17,249
|
|
|
|
13,371
|
|
|
Prepaid expenses and
other current assets
|
|
|
1,039
|
|
|
|
3,113
|
|
|
Total current
assets
|
|
|
31,264
|
|
|
|
28,339
|
|
|
Property and equipment,
net
|
|
|
775
|
|
|
|
818
|
|
|
Operating lease
right-of-use assets
|
|
|
1,526
|
|
|
|
1,324
|
|
|
Intangible assets,
net
|
|
|
2,420
|
|
|
|
2,888
|
|
|
Deferred tax
asset
|
|
|
122
|
|
|
|
122
|
|
|
Total
assets
|
|
$
|
36,107
|
|
|
$
|
33,491
|
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
|
Accounts
payable
|
|
$
|
2,179
|
|
|
$
|
1,623
|
|
|
Deferred
revenue
|
|
|
248
|
|
|
|
203
|
|
|
Customer
deposits
|
|
|
3,112
|
|
|
|
3,446
|
|
|
Accrued expenses and
other current liabilities
|
|
|
1,742
|
|
|
|
2,140
|
|
|
Income taxes
payable
|
|
|
2,093
|
|
|
|
2,114
|
|
|
Operating lease
liabilities - current
|
|
|
660
|
|
|
|
751
|
|
|
Total current
liabilities
|
|
|
10,034
|
|
|
|
10,277
|
|
|
Operating lease
liabilities - non-current
|
|
|
866
|
|
|
|
573
|
|
|
Total
liabilities
|
|
|
10,900
|
|
|
|
10,850
|
|
|
Stockholders'
equity:
|
|
|
|
|
|
|
|
|
|
Preferred stock, $1.00
par value; 2,000 shares authorized; no shares issued and
outstanding at October 31, 2024 and 1,683 shares issued and
outstanding at
January 31, 2024
|
|
|
—
|
|
|
|
37,779
|
|
|
Common stock, $0.01
par value; 40,000 shares authorized; 7,969 shares issued
and
outstanding at October 31, 2024 and 1,406 shares issued and
outstanding at January
31, 2024
|
|
|
80
|
|
|
|
14
|
|
|
Additional paid-in
capital
|
|
|
135,572
|
|
|
|
113,121
|
|
|
Accumulated
deficit
|
|
|
(110,479)
|
|
|
|
(128,307)
|
|
|
Accumulated other
comprehensive gain
|
|
|
34
|
|
|
|
34
|
|
|
Total stockholders'
equity
|
|
|
25,207
|
|
|
|
22,641
|
|
|
Total liabilities and
stockholders' equity
|
|
$
|
36,107
|
|
|
$
|
33,491
|
|
|
MIND TECHNOLOGY,
INC.
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands,
except per share data)
(unaudited)
|
|
|
|
For the Three
Months
Ended October
31,
|
|
|
For the Nine
Months
Ended October
31,
|
|
|
|
2024
|
|
|
2023
|
|
|
2024
|
|
|
2023
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of marine
technology products
|
|
$
|
12,105
|
|
|
$
|
4,974
|
|
|
|
31,819
|
|
|
|
23,132
|
|
|
Cost of
sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of marine
technology products
|
|
|
6,684
|
|
|
|
2,721
|
|
|
|
17,402
|
|
|
|
13,402
|
|
|
Gross
profit
|
|
|
5,421
|
|
|
|
2,253
|
|
|
|
14,417
|
|
|
|
9,730
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and
administrative
|
|
|
2,762
|
|
|
|
2,941
|
|
|
|
8,305
|
|
|
|
9,160
|
|
|
Research and
development
|
|
|
562
|
|
|
|
508
|
|
|
|
1,352
|
|
|
|
1,479
|
|
|
Depreciation and
amortization
|
|
|
221
|
|
|
|
257
|
|
|
|
724
|
|
|
|
892
|
|
|
Total operating
expenses
|
|
|
3,545
|
|
|
|
3,706
|
|
|
|
10,381
|
|
|
|
11,531
|
|
|
Operating income
(loss)
|
|
|
1,876
|
|
|
|
(1,453)
|
|
|
|
4,036
|
|
|
|
(1,801)
|
|
|
Other income
(expense):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
|
—
|
|
|
|
(169)
|
|
|
|
—
|
|
|
|
(536)
|
|
|
Other, net
|
|
|
(189)
|
|
|
|
25
|
|
|
|
320
|
|
|
|
336
|
|
|
Total other income
(expense)
|
|
|
(189)
|
|
|
|
(144)
|
|
|
|
320
|
|
|
|
(200)
|
|
|
Income (loss) from
continuing operations before income taxes
|
|
|
1,687
|
|
|
|
(1,597)
|
|
|
|
4,356
|
|
|
|
(2,001)
|
|
|
Provision for income
taxes
|
|
|
(396)
|
|
|
|
(112)
|
|
|
|
(1,313)
|
|
|
|
(590)
|
|
|
Net income (loss) from
continuing operations
|
|
|
1,291
|
|
|
|
(1,709)
|
|
|
|
3,043
|
|
|
|
(2,591)
|
|
|
Income from
discontinued operations, net of income taxes
|
|
|
—
|
|
|
|
2,277
|
|
|
|
—
|
|
|
|
1,424
|
|
|
Net income
(loss)
|
|
$
|
1,291
|
|
|
$
|
568
|
|
|
$
|
3,043
|
|
|
$
|
(1,167)
|
|
|
Preferred stock
dividends - declared
|
|
|
—
|
|
|
|
(947)
|
|
|
|
—
|
|
|
|
(947)
|
|
|
Preferred stock
dividends - undeclared
|
|
|
(368)
|
|
|
|
—
|
|
|
|
(2,262)
|
|
|
|
(1,894)
|
|
|
Effect of preferred
stock conversion
|
|
|
14,785
|
|
|
|
—
|
|
|
|
14,785
|
|
|
|
—
|
|
|
Net Income (loss)
attributable to common stockholders
|
|
$
|
15,708
|
|
|
$
|
(379)
|
|
|
$
|
15,566
|
|
|
$
|
(4,008)
|
|
|
Net Income (loss)
per common share - Basic and Diluted
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing
operations
|
|
$
|
2.87
|
|
|
$
|
(1.89)
|
|
|
$
|
5.62
|
|
|
$
|
(3.86)
|
|
|
Discontinued
operations
|
|
$
|
—
|
|
|
$
|
1.62
|
|
|
$
|
—
|
|
|
$
|
1.01
|
|
|
Net income
(loss)
|
|
$
|
2.87
|
|
|
$
|
(0.27)
|
|
|
$
|
5.62
|
|
|
$
|
(2.85)
|
|
|
Shares used in
computing net income (loss) per common share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and
diluted
|
|
|
5,473
|
|
|
|
1,406
|
|
|
|
2,772
|
|
|
|
1,406
|
|
|
MIND TECHNOLOGY,
INC.
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in
thousands)
(unaudited)
|
|
|
|
For the Nine
Months Ended
October
31,
|
|
|
|
2024
|
|
|
2023
|
|
|
Cash flows from
operating activities:
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
$
|
3,043
|
|
|
$
|
(1,167)
|
|
|
Adjustments to
reconcile net income (loss) to net cash used in operating
activities:
|
|
|
|
|
|
|
|
|
|
Depreciation and
amortization
|
|
|
724
|
|
|
|
1,230
|
|
|
Stock-based
compensation
|
|
|
141
|
|
|
|
264
|
|
|
Gain on sale of Klein
|
|
|
—
|
|
|
|
(2,393)
|
|
|
Provision for
inventory obsolescence
|
|
|
67
|
|
|
|
23
|
|
|
Gross profit from sale
of other equipment
|
|
|
(457)
|
|
|
|
(385)
|
|
|
Changes in:
|
|
|
|
|
|
|
|
|
|
Accounts
receivable
|
|
|
(3,006)
|
|
|
|
(688)
|
|
|
Unbilled
revenue
|
|
|
164
|
|
|
|
51
|
|
|
Inventories
|
|
|
(3,944)
|
|
|
|
(3,174)
|
|
|
Prepaid expenses and
other current and long-term assets
|
|
|
2,076
|
|
|
|
566
|
|
|
Income taxes
receivable and payable
|
|
|
(24)
|
|
|
|
(21)
|
|
|
Accounts payable,
accrued expenses and other current liabilities
|
|
|
98
|
|
|
|
(1,045)
|
|
|
Deferred revenue and
customer deposits
|
|
|
(289)
|
|
|
|
1,115
|
|
|
Net cash used in
operating activities
|
|
|
(1,407)
|
|
|
|
(5,624)
|
|
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
|
|
|
Purchases of property
and equipment
|
|
|
(213)
|
|
|
|
(199)
|
|
|
Proceeds from
the sale of Klein, net
|
|
|
—
|
|
|
|
10,832
|
|
|
Sale of other
equipment
|
|
|
457
|
|
|
|
385
|
|
|
Net cash provided by
investing activities
|
|
|
244
|
|
|
|
11,018
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
|
|
|
Preferred stock
conversion transaction costs
|
|
|
(619)
|
|
|
|
—
|
|
|
Net proceeds
from short-term loan
|
|
|
—
|
|
|
|
2,947
|
|
|
Payment on short-term
loan
|
|
|
—
|
|
|
|
(3,750)
|
|
|
Refund of
prepaid interest on short-term loan
|
|
|
—
|
|
|
|
214
|
|
|
Net cash used in
financing activities
|
|
|
(619)
|
|
|
|
(589)
|
|
|
Effect of changes in
foreign exchange rates on cash and cash equivalents
|
|
|
(2)
|
|
|
|
(14)
|
|
|
Net change in cash
and cash equivalents
|
|
|
(1,784)
|
|
|
|
4,791
|
|
|
Cash and cash
equivalents, beginning of period
|
|
|
5,289
|
|
|
|
778
|
|
|
Cash and cash
equivalents, end of period
|
|
$
|
3,505
|
|
|
$
|
5,569
|
|
|
MIND TECHNOLOGY,
INC.
Reconciliation of
Net Income (Loss) and Net Cash Used in Operating
Activities to EBITDA and
Adjusted EBITDA from
Continuing Operations
(in
thousands)
(unaudited)
|
|
|
|
For the Three
Months
Ended October
31,
|
|
|
For the Nine
Months
Ended October
31,
|
|
|
|
2024
|
|
|
2023
|
|
|
2024
|
|
|
2023
|
|
|
Reconciliation of
Net income (loss) to EBITDA and Adjusted
EBITDA from
continuing operations
|
|
(in
thousands)
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
$
|
1,291
|
|
|
$
|
568
|
|
|
$
|
3,043
|
|
|
$
|
(1,167)
|
|
|
Interest expense,
net
|
|
|
—
|
|
|
|
169
|
|
|
|
—
|
|
|
|
536
|
|
|
Depreciation and
amortization
|
|
|
221
|
|
|
|
290
|
|
|
|
724
|
|
|
|
1,230
|
|
|
Provision for income
taxes
|
|
|
396
|
|
|
|
112
|
|
|
|
1,313
|
|
|
|
590
|
|
|
EBITDA (1)
|
|
|
1,908
|
|
|
|
1,139
|
|
|
|
5,080
|
|
|
|
1,189
|
|
|
Stock-based
compensation
|
|
|
47
|
|
|
|
106
|
|
|
|
141
|
|
|
|
264
|
|
|
Income from
discontinued operations net of depreciation and
amortization
|
|
|
—
|
|
|
|
(2,308)
|
|
|
|
—
|
|
|
|
(1,762)
|
|
|
Adjusted EBITDA from
continuing operations (1)
|
|
$
|
1,955
|
|
|
$
|
(1,063)
|
|
|
$
|
5,221
|
|
|
$
|
(309)
|
|
|
Reconciliation of
Net Cash Provided by (Used in) Operating
Activities to
EBITDA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) operating activities
|
|
$
|
2,288
|
|
|
$
|
(2,147)
|
|
|
$
|
(1,407)
|
|
|
$
|
(5,624)
|
|
|
Gain on Sale of
Klein
|
|
|
—
|
|
|
|
2,393
|
|
|
|
—
|
|
|
|
2,393
|
|
|
Stock-based
compensation
|
|
|
(47)
|
|
|
|
(106)
|
|
|
|
(141)
|
|
|
|
(264)
|
|
|
Provision for inventory
obsolescence
|
|
|
(22)
|
|
|
|
(23)
|
|
|
|
(67)
|
|
|
|
(23)
|
|
|
Changes in accounts
receivable (current and long-term)
|
|
|
(115)
|
|
|
|
(2,570)
|
|
|
|
2,842
|
|
|
|
637
|
|
|
Interest paid,
net
|
|
|
—
|
|
|
|
169
|
|
|
|
—
|
|
|
|
576
|
|
|
Taxes paid, net of
refunds
|
|
|
473
|
|
|
|
192
|
|
|
|
1,411
|
|
|
|
617
|
|
|
Gross profit from sale
of other equipment
|
|
|
—
|
|
|
|
49
|
|
|
|
457
|
|
|
|
385
|
|
|
Changes in
inventory
|
|
|
(1,798)
|
|
|
|
2,841
|
|
|
|
3,944
|
|
|
|
3,174
|
|
|
Changes in accounts
payable, accrued expenses and other current
liabilities and
deferred revenue
|
|
|
2,161
|
|
|
|
(427)
|
|
|
|
191
|
|
|
|
(70)
|
|
|
Changes in prepaid
expenses and other current and long-term assets
|
|
|
(1,034)
|
|
|
|
763
|
|
|
|
(2,076)
|
|
|
|
(566)
|
|
|
Other
|
|
|
2
|
|
|
|
5
|
|
|
|
(74)
|
|
|
|
(46)
|
|
|
EBITDA (1)
|
|
$
|
1,908
|
|
|
$
|
1,139
|
|
|
$
|
5,080
|
|
|
$
|
1,189
|
|
|
|
|
|
1.
|
EBITDA and Adjusted
EBITDA are non-GAAP financial measures. EBITDA is defined as net
income before (a) interest income and interest expense, (b)
provision for (or benefit from) income taxes and (c) depreciation
and amortization. Adjusted EBITDA excludes non-cash foreign
exchange gains and losses, stock-based compensation, impairment of
intangible assets and other non-cash tax related items. We
consider EBITDA and Adjusted EBITDA to be important indicators for
the performance of our business, but not measures of performance or
liquidity calculated in accordance with GAAP. We have included
these non-GAAP financial measures because management utilizes this
information for assessing our performance and liquidity, and as
indicators of our ability to make capital expenditures, service
debt and finance working capital requirements and we believe that
EBITDA and Adjusted EBITDA are measurements that are commonly used
by analysts and some investors in evaluating the performance and
liquidity of companies such as us. In particular, we believe that
it is useful to our analysts and investors to understand this
relationship because it excludes transactions not related to our
core cash operating activities. We believe that excluding these
transactions allows investors to meaningfully trend and analyze the
performance of our core cash operations. EBITDA and Adjusted EBITDA
are not measures of financial performance or liquidity under GAAP
and should not be considered in isolation or as alternatives to
cash flow from operating activities or as alternatives to net
income as indicators of operating performance or any other measures
of performance derived in accordance with GAAP. In evaluating our
performance as measured by EBITDA, management recognizes and
considers the limitations of this measurement. EBITDA and Adjusted
EBITDA do not reflect our obligations for the payment of income
taxes, interest expense or other obligations such as capital
expenditures. Accordingly, EBITDA and Adjusted EBITDA are only two
of the measurements that management utilizes. Other companies in
our industry may calculate EBITDA or Adjusted EBITDA differently
than we do and EBITDA and Adjusted EBITDA may not be comparable
with similarly titled measures reported by other
companies.
|
|
Contacts:
|
Rob Capps, President
& CEO
|
|
MIND Technology,
Inc.
|
|
281-353-4475
|
|
|
|
Ken Dennard / Zach
Vaughan
|
|
Dennard Lascar Investor
Relations
|
|
713-529-6600
|
|
MIND@dennardlascar.com
|
View original
content:https://www.prnewswire.com/news-releases/mind-technology-inc-reports-fiscal-2025-third-quarter-results-302328159.html
SOURCE MIND Technology, Inc.