MIND Technology, operating under its Seamap brand, designs, manufactures, and sells specialized equipment used in marine seismic surveys. Its customers — primarily commercial marine seismic contractors, survey companies, and government research institutes — use MIND's equipment to survey the ocean floor for oil and gas exploration, offshore wind farm installation, and ocean-bottom mapping for subsea infrastructure projects. MIND's three core product lines are GunLink seismic source acquisition and control systems, BuoyLink satellite positioning systems, and SeaLink towed streamer systems. MIND sells these products directly to customers globally, with Norway and China as its two largest markets. MIND manufactures and assembles products in Singapore, Malaysia, and Huntsville, Texas. Revenue comes from two sources: new system sales and aftermarket activity (spare parts, repairs, and field service). System sales are large, lumpy capital purchases, while aftermarket revenue is more resilient since deployed equipment requires ongoing maintenance regardless of customer capex cycles. Aftermarket accounted for roughly 60% of revenue in FY26 and carries better margins than system sales. Gross margins have run in the 45–50% range. MIND holds no debt, carries roughly $19M in cash, and holds approximately $80M in U.S. NOL carryforwards that are largely unutilized since most income is generated in Singapore. Management is pursuing growth through organic expansion of the Huntsville facility, next-generation product development, and M&A targeting complementary product lines.