Mind Technology is trading 16.19% down at $3.52 in after-hours trading after weak Q2 results from its September 8, 2026, market-close earnings release, confirmed by investor relations.
- Revenue fell 59% year over year; backlog declined to $4.8 million, with earnings and revenue reportedly missing estimates.
- Management cited macro uncertainty, Middle East conflict and delayed system orders; high-margin aftermarket services supplied 87% of revenue.
- Company-specific weakness, fiscal 2027 outlook and depleted backlog raised near-term concerns despite balance-sheet stability and recurring service revenue.