MIND Technology Inc. announced that its Seamap division has secured a new order for GunLink source controllers and related equipment from an international seismic contractor. The order, valued at more than $9.5 million, will be delivered within the company’s current fiscal year (FY 2026, ending January 31 2026) or early in FY 2027.
The order represents a substantial addition to MIND’s already robust Seamap revenue stream, which totaled $46.9 million in FY 2025. With a market capitalization of roughly $76 million, the $9.5 million order accounts for about 12 % of the company’s total revenue for FY 2025 and roughly 13 % of its market cap, underscoring its material impact.
Mark Welker, Vice President and Seamap Managing Director, said the order confirms continued demand for the company’s proprietary GunLink technology, noting that the contract had been pending while technical requirements were finalized. Welker added that the order is a clear sign that the company’s focus on source‑controller solutions is resonating with customers, even amid a temporary lull in order activity.
The order comes after MIND divested its Klein Marine Products segment in August 2023 to concentrate on Seamap, and follows a pipeline of $15.9 million in orders received after January 31 2025. The new contract strengthens the company’s position as a leading provider of source controllers in the marine seismic and survey sector and supports its strategy of expanding the GunLink product line.
By adding a sizable, high‑margin order to its pipeline, MIND is reinforcing its cash‑flow trajectory and positioning itself for continued growth in the seismic equipment market, which remains tied to exploration activity and global energy demand.
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