In fiscal 2026 fourth quarter, the company generated revenue of $9.8 million, up slightly from $9.7 million in Q3 but down from $15.0 million year-over-year. Operating income fell to $78,000 compared to $774,000 in Q3, while net loss was $271,000, or $0.03 per share; full-year operating income totaled $2.9 million.

The backlog for the Seamap marine technology segment rose to $13.9 million as of January 31, compared to $7.2 million at October-end and $16.2 million a year earlier. Despite customer deferrals on larger systems due to economic uncertainty, Seamap revenues remained flat sequentially and above historical levels.

Cash on hand stood at $19.1 million, enabling the company to maintain positive cash flow throughout fiscal 2026. Management highlighted flexibility for mergers and acquisitions, organic investments and strategic partnerships to drive accretive scale and enhance shareholder value.

Management expects fiscal 2027 results to decline compared to fiscal 2026 but foresees sustained positive cash flow and improved financial results as market conditions stabilize. The company plans to leverage its strong balance sheet, efficient capital structure and differentiated product suite to capture emerging opportunities.