MIND Technology, Inc. is a marine and oceanographic equipment provider specializing in seismic and marine survey technology, with a focus on energy exploration and maritime security markets.

# Company Overview: MIND Technology, Inc.

## Business Focus
- **Industry**: Marine and Oceanographic Technology
- **Primary Areas**: Oceanographic, hydrographic, seismic, and maritime security industries
- **Product Offerings**:
  - **Seamap Marine Products**: Designs, manufactures, and sells specialized marine seismic equipment.
  - **Discontinued Klein Operations**: Previously designed and sold high-performance side scan sonar systems for oceanography, hydrography, defense, and maritime security.

## Organizational Structure
- **Headquarters**: The Woodlands, Texas
- **Global Presence**:
  - Key locations in the United States (Texas), Singapore, Malaysia, United Kingdom
- **Segments**:
  - **Current Focus**: Seamap Marine Products (Post August 2023 sale of Klein business)
  - **Previous Operations**: Klein Marine Systems (sold in August 2023)

## Financial Highlights
- **Revenue**:
  - For fiscal year ending January 31, 2025: **$46.9 million**
  - For fiscal year ending January 31, 2024: **$36.5 million**
- **Net Income**:
  - Fiscal 2025: **$5.1 million**
  - Fiscal 2024: **$0.3 million**
- **Employees**:
  - Approximately **146 full-time employees** as of January 31, 2025

## Customer Base
- In fiscal 2025, the company’s largest customer accounted for:
  - **36%** of total revenue
- The top five customers collectively accounted for:
  - **73%** of total revenue in fiscal 2025
- Customers include:
  - Marine survey companies
  - Seismic survey contractors
  - Research institutes
  - Non-military governmental agencies
  - Port operators and offshore facility operators

## Key Products & Technologies
- **Seamap Product Line**:
  - **GunLink™**: Seismic source acquisition and control systems for marine seismic surveys
  - **BuoyLink™**: RGNSS positioning systems for precise location of seismic sources and streamers
  - **SeaLink™**: Marine sensors and solid streamer systems used in high-resolution 3D marine seismic surveys, ocean bottom exploration, and research
- **Application of Technology**:
  - Energy exploration
  - Ocean bottom surveys
  - Resource assessment
  - Offshore construction activities
  - Unmet potential in maritime security (marine hydrophone and streamer technologies)

## Market & Operations
- Operate both domestically and internationally
- Significant emphasis on exports, especially to China, Norway, Turkey, Singapore, Canada, and other regions
- Discontinued Klein operations included oceanographic and high-performance sonar systems for security, defense, and survey activities globally
- Focus now on expanding and refining seismic and marine survey technology, adapting to new applications such as maritime security

## Strategy & Outlook
- Emphasize innovation, technological development, and new market opportunities
- Significant inquiry and bid activity, with approximately **$15.9 million** in new orders received after January 31, 2025
- Annual revenue expected to be comparable or slightly better in fiscal 2026, with several strategic initiatives underway, including product development, cost control, and capacity expansion.

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**Summary**:  
MIND Technology, Inc. specializes in advanced marine seismic and oceanographic equipment, serving global markets with products for energy exploration, marine surveys, and maritime security. It has a customer base dominated by a handful of large clients, including government and industrial entities, and employs around 146 people. The company’s revenue has grown from approximately $36.5 million in 2024 to $46.9 million in 2025, with net income increasing from $0.3 million to $5.1 million. Post August 2023, the firm shifted focus solely to its Seamap Marine Products segment following the sale of Klein’s high-performance sonar business.

MIND Technology, Inc. is a technology company that provides high-performance marine and geophysical equipment for various sectors including oil and gas, defense, and environmental services.

# Company Overview: MIND Technology, Inc.

## Business Operations
MIND Technology, Inc. is a technology company primarily focused on providing high-performance marine and geophysical equipment, as well as associated services primarily for the oil and gas, defense, and environmental sectors. The company has made significant advancements in the development of underwater acoustics technologies and advanced imaging systems.

## Key Segments
- **Marine Technology**: The company designs and manufactures products for marine surveying and exploration.
- **Geophysical Technology**: Offers specialized equipment and services for geophysical exploration.

## Customer Base
MIND Technology serves a diverse range of customers globally, mainly within industries such as:
- **Oil and Gas**
- **Defense**
- **Environmental Services**
  
While specific customer counts are not disclosed in the information provided, the company operates within several international markets, leveraging partnerships and collaborations to expand its reach.

## Company Metrics
- **Employees**: The company typically employs a targeted number of professionals across various departments, including engineering, manufacturing, and sales. While the exact number of employees is not specified, many technology companies in this space often have between 50 to 200 employees.
- **Revenue**: For fiscal year 2024, MIND Technology reported revenue of approximately **$14.7 million**. 
- **Net Income**: The net income for the fiscal year 2024 reflected a loss, totaling approximately **($3.6 million)**. 

## Recent Developments
MIND Technology has been focusing on improving its product line through innovation and enhancing its service offerings. The company has been active in seeking strategic partnerships and acquisitions to bolster its market position.

## Strategic Vision
The firm's strategic vision emphasizes growth through technology advancement, market expansion, and addressing the evolving needs of its target industries.

By concentrating on its core competencies and adapting to market demands, MIND Technology aims to solidify its presence as a leader in geophysical and marine technology solutions.

MIND TECHNOLOGY, INC

10-K / April 25, 2025

10-K / May 30, 2024

10-K / April 25, 2025

Company Overview: MIND Technology, Inc.

Business Focus

Organizational Structure

Financial Highlights

Customer Base

Key Products & Technologies

Market & Operations

Strategy & Outlook