2021 Q1 Form 10-K Financial Statement

#000092642321000011 Filed on April 16, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1 2020
Revenue $6.400M $13.26M $42.68M
YoY Change -51.72% 7.54% -0.62%
Cost Of Revenue $3.870M $4.490M $26.05M
YoY Change -13.81% -49.66% -16.5%
Gross Profit $2.530M $5.947M $12.95M
YoY Change -57.46% 74.35% 10.34%
Gross Profit Margin 39.53% 44.86% 30.36%
Selling, General & Admin $4.390M $3.600M $14.14M
YoY Change 21.94% -27.27% -32.36%
% of Gross Profit 173.52% 60.53% 109.16%
Research & Development $930.0K $410.0K $1.850M
YoY Change 126.83% 36.67% 59.62%
% of Gross Profit 36.76% 6.89% 14.28%
Depreciation & Amortization $710.0K $1.960M $2.494M
YoY Change -63.78% -25.48% -0.08%
% of Gross Profit 28.06% 32.96% 19.25%
Operating Expenses $6.020M $4.690M $19.24M
YoY Change 28.36% -20.91% -22.28%
Operating Profit -$3.490M $1.257M -$6.290M
YoY Change -377.65% -149.9% -51.69%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $790.0K -$50.00K $100.0K
YoY Change -1680.0% -95.76% -101.52%
Pretax Income -$2.690M -$2.993M -$6.190M
YoY Change -10.12% -28.33% -68.4%
Income Tax $620.0K $715.0K $353.0K
% Of Pretax Income
Net Earnings -$3.470M -$3.708M -$11.29M
YoY Change -6.42% -10.76% -43.11%
Net Earnings / Revenue -54.22% -27.97% -26.45%
Basic Earnings Per Share -$0.35 -$1.10
Diluted Earnings Per Share -$258.8K -$0.35 -$1.10
COMMON SHARES
Basic Shares Outstanding 12.14M shares
Diluted Shares Outstanding 12.14M shares

Balance Sheet

Concept 2021 Q1 2020 Q1 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.600M $3.100M $3.100M
YoY Change 48.39% -67.02% -67.02%
Cash & Equivalents $4.611M $3.090M $3.100M
Short-Term Investments
Other Short-Term Assets $6.000M $2.300M $2.300M
YoY Change 160.87% -43.9% -43.9%
Inventory $11.45M $12.66M $13.30M
Prepaid Expenses
Receivables $4.747M $6.623M $11.90M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $26.79M $39.41M $30.60M
YoY Change -32.02% 8.45% -15.7%
LONG-TERM ASSETS
Property, Plant & Equipment $4.751M $5.419M $16.10M
YoY Change -12.33% -61.72% 13.38%
Goodwill $0.00 $2.531M
YoY Change -100.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $429.0K $400.0K
YoY Change -100.0% -26.54% -63.64%
Total Long-Term Assets $12.97M $18.82M $27.60M
YoY Change -31.06% -35.03% -4.83%
TOTAL ASSETS
Total Short-Term Assets $26.79M $39.41M $30.60M
Total Long-Term Assets $12.97M $18.82M $27.60M
Total Assets $39.76M $58.23M $58.20M
YoY Change -31.71% -10.83% -10.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.704M $1.767M $2.700M
YoY Change -3.57% 15.19% 80.0%
Accrued Expenses $2.912M $1.565M $4.400M
YoY Change 86.07% -58.13% 238.46%
Deferred Revenue $208.0K $731.0K
YoY Change -71.55% -29.71%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.836M $8.448M $8.400M
YoY Change -7.24% 13.73% 13.51%
LONG-TERM LIABILITIES
Long-Term Debt $900.0K $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $967.0K $1.900M
YoY Change -100.0% -19.08% 58.33%
Total Long-Term Liabilities $0.00 $967.0K $1.900M
YoY Change -100.0% -19.08% 58.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.836M $8.448M $8.400M
Total Long-Term Liabilities $0.00 $967.0K $1.900M
Total Liabilities $9.347M $10.58M $10.60M
YoY Change -11.62% 22.65% 23.26%
SHAREHOLDERS EQUITY
Retained Earnings -$99.87M -$77.31M
YoY Change 29.18% 20.85%
Common Stock $128.4M $124.1M
YoY Change 3.46% 0.71%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.86M $16.86M
YoY Change 0.0% 0.0%
Treasury Stock Shares $1.929M 1.929M shares
Shareholders Equity $30.42M $47.65M $47.70M
YoY Change
Total Liabilities & Shareholders Equity $39.76M $58.23M $58.20M
YoY Change -31.71% -10.83% -10.87%

Cashflow Statement

Concept 2021 Q1 2020 Q1 2020
OPERATING ACTIVITIES
Net Income -$3.470M -$3.708M -$11.29M
YoY Change -6.42% -10.76% -43.11%
Depreciation, Depletion And Amortization $710.0K $1.960M $2.494M
YoY Change -63.78% -25.48% -0.08%
Cash From Operating Activities -$1.560M -$1.570M -$5.817M
YoY Change -0.64% -162.8% 6.6%
INVESTING ACTIVITIES
Capital Expenditures -$400.0K -$1.160M $1.036M
YoY Change -65.52% 182.93% 27.27%
Acquisitions
YoY Change
Other Investing Activities $1.030M $250.0K $1.900M
YoY Change 312.0% -83.77% -65.58%
Cash From Investing Activities $640.0K -$910.0K -$2.088M
YoY Change -170.33% -181.25% 13820.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.730M 1.010M $1.749M
YoY Change 170.3% 288.46% -66.01%
NET CHANGE
Cash From Operating Activities -1.560M -1.570M -$5.817M
Cash From Investing Activities 640.0K -910.0K -$2.088M
Cash From Financing Activities 2.730M 1.010M $1.749M
Net Change In Cash 1.810M -1.470M -$6.315M
YoY Change -223.13% -137.89% 957.79%
FREE CASH FLOW
Cash From Operating Activities -$1.560M -$1.570M -$5.817M
Capital Expenditures -$400.0K -$1.160M $1.036M
Free Cash Flow -$1.160M -$410.0K -$6.853M
YoY Change 182.93% -114.09% 9.28%

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OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
31000 USD
CY2020 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-343000 USD
CY2021 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-22529000 USD
CY2020 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-13680000 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
56678000 USD
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-11287000 USD
CY2020 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-343000 USD
CY2020 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
26000 USD
CY2020 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
0 USD
CY2020 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3774000 USD
CY2020 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
2050000 USD
CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
854000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
47652000 USD
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-20306000 USD
CY2021 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
31000 USD
CY2021 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0 USD
CY2021 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
2254000 USD
CY2021 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
0 USD
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
708000 USD
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
30416000 USD
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-20306000 USD
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-11287000 USD
CY2021 mind Forgiveness Of Unsecured Notes Payable
ForgivenessOfUnsecuredNotesPayable
757000 USD
CY2020 mind Forgiveness Of Unsecured Notes Payable
ForgivenessOfUnsecuredNotesPayable
0 USD
CY2021 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
4627000 USD
CY2020 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
7768000 USD
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
708000 USD
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
854000 USD
CY2021 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
2531000 USD
CY2020 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
760000 USD
CY2021 us-gaap Discontinued Operation Gain Loss From Disposal Of Discontinued Operation Before Income Tax
DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax
-1859000 USD
CY2020 us-gaap Discontinued Operation Gain Loss From Disposal Of Discontinued Operation Before Income Tax
DiscontinuedOperationGainLossFromDisposalOfDiscontinuedOperationBeforeIncomeTax
0 USD
CY2021 mind Accounts Receivable Credit Loss Expense Reversal Net Of Writeoffs
AccountsReceivableCreditLossExpenseReversalNetOfWriteoffs
1129000 USD
CY2020 mind Accounts Receivable Credit Loss Expense Reversal Net Of Writeoffs
AccountsReceivableCreditLossExpenseReversalNetOfWriteoffs
2000000 USD
CY2021 mind Provision For Inventory Obsolescence Adjustments
ProvisionForInventoryObsolescenceAdjustments
321000 USD
CY2020 mind Provision For Inventory Obsolescence Adjustments
ProvisionForInventoryObsolescenceAdjustments
298000 USD
CY2021 mind Gross Profit From Sale Of Lease Pool Equipment
GrossProfitFromSaleOfLeasePoolEquipment
1326000 USD
CY2020 mind Gross Profit From Sale Of Lease Pool Equipment
GrossProfitFromSaleOfLeasePoolEquipment
1197000 USD
CY2021 mind Gain Loss On Sale Of Other Equipment
GainLossOnSaleOfOtherEquipment
357000 USD
CY2020 mind Gain Loss On Sale Of Other Equipment
GainLossOnSaleOfOtherEquipment
0 USD
CY2021 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
32000 USD
CY2020 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
503000 USD
CY2021 mind Noncurrent Prepaid Income Tax Expense
NoncurrentPrepaidIncomeTaxExpense
0 USD
CY2020 mind Noncurrent Prepaid Income Tax Expense
NoncurrentPrepaidIncomeTaxExpense
-50000 USD
CY2021 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
-4632000 USD
CY2020 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
1723000 USD
CY2021 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-72000 USD
CY2020 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
327000 USD
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1178000 USD
CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2810000 USD
CY2021 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
767000 USD
CY2020 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
0 USD
CY2021 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-2510000 USD
CY2020 us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
-178000 USD
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-581000 USD
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
506000 USD
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
459000 USD
CY2020 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-335000 USD
CY2021 mind Gains Losses On Investment And Foreign Exchange
GainsLossesOnInvestmentAndForeignExchange
0 USD
CY2020 mind Gains Losses On Investment And Foreign Exchange
GainsLossesOnInvestmentAndForeignExchange
-313000 USD
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6360000 USD
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5817000 USD
CY2021 mind Payments To Acquire Seismic Equipment Held For Lease
PaymentsToAcquireSeismicEquipmentHeldForLease
110000 USD
CY2020 mind Payments To Acquire Seismic Equipment Held For Lease
PaymentsToAcquireSeismicEquipmentHeldForLease
2955000 USD
CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
366000 USD
CY2020 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0 USD
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
90000 USD
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1036000 USD
CY2021 mind Proceeds From Sale Of Lease Pool Equipment
ProceedsFromSaleOfLeasePoolEquipment
2010000 USD
CY2020 mind Proceeds From Sale Of Lease Pool Equipment
ProceedsFromSaleOfLeasePoolEquipment
1664000 USD
CY2021 mind Proceeds From Sale Of Discontinued Operations Assets Held For Sale
ProceedsFromSaleOfDiscontinuedOperationsAssetsHeldForSale
1506000 USD
CY2020 mind Proceeds From Sale Of Discontinued Operations Assets Held For Sale
ProceedsFromSaleOfDiscontinuedOperationsAssetsHeldForSale
0 USD
CY2021 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
257000 USD
CY2020 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
239000 USD
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3207000 USD
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2088000 USD
CY2021 us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
1000000 USD
CY2020 us-gaap Proceeds From Issuance Of Redeemable Preferred Stock
ProceedsFromIssuanceOfRedeemablePreferredStock
3773000 USD
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3584000 USD
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2021 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
1677000 USD
CY2020 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
2050000 USD
CY2021 us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
1607000 USD
CY2020 us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
0 USD
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
26000 USD
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4514000 USD
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1749000 USD
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16000 USD
CY2020 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-159000 USD
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1377000 USD
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6315000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3234000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9549000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4611000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3234000 USD
CY2021 mind Service Agreement Period
ServiceAgreementPeriod
P12M
CY2021 mind Support Services Term
SupportServicesTerm
P12M
CY2021 mind Support Services Additional Charges
SupportServicesAdditionalCharges
0 USD
CY2021 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Revenue Recognition of Leasing Arrangements</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">—The Company leases various types of seismic equipment to seismic data acquisition companies. All leases at January 31, 2021 and 2020 are for one year or less. Lease revenue is recognized ratably over the term of the lease. The Company does not enter into leases with embedded maintenance obligations. The standard lease provides that the lessee is responsible for maintenance and repairs to the equipment, excluding normal wear and tear. The Company occasionally provides technical advice to its customers without additional compensation as part of its customer service practices. Repairs or maintenance performed by the Company is charged to the lessee, generally on a time and materials basis. Repair and maintenance revenues are recognized as incurred. Effective July 31, 2020, the Leasing Business has been classified as held for sale on the financial results reported as discontinued operations (see Note 2 – “Assets Held for Sale and Discontinued Operations” for additional details).</span>
CY2021Q1 us-gaap Property Plant And Equipment Salvage Value
PropertyPlantAndEquipmentSalvageValue
0 USD
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Use of Estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">—The preparation of the Company’s consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company’s management to make estimates and assumptions that affect the amounts reported in these consolidated financial statements and accompanying notes. Estimates are used for, but not limited to, the allowance for doubtful accounts, lease pool valuations, valuation allowance on deferred tax assets, the evaluation of uncertain tax positions, estimated depreciable lives of fixed assets and intangible assets, impairment of fixed assets and intangible assets, valuation of assets acquired and liabilities assumed in business combinations and the valuation of stock options. Future events and their effects cannot be perceived with certainty. Accordingly, these accounting estimates require the exercise of judgment. The accounting estimates used in the preparation of the consolidated financial statements will change as new events occur, as more experience is acquired, as additional information is obtained and as the Company’s operating environment changes. Actual results could differ from these estimates.</span>Substantial judgment is necessary in the determination of the appropriate levels for the Company’s allowance for doubtful accounts because of the extended payment terms the Company offers to its customers on occasion and the limited financial wherewithal of certain of these customers. As a result, the Company’s allowance for doubtful accounts could change in the future, and such change could be material to the financial statements taken as a whole. The Company must also make substantial judgments regarding the valuation allowance on deferred tax assets and with respect to quantitative analysis prepared in conjunction with impairment analysis related to goodwill and other intangible assets.
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
48000 shares
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
79000 shares
CY2021 mind Incremental Common Shares Attributable To Restricted Stock
IncrementalCommonSharesAttributableToRestrictedStock
17000 shares
CY2020 mind Incremental Common Shares Attributable To Restricted Stock
IncrementalCommonSharesAttributableToRestrictedStock
3000 shares
CY2021 mind Dilutive Shares
DilutiveShares
65000 shares
CY2020 mind Dilutive Shares
DilutiveShares
82000 shares
CY2021 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Reclassifications</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">—Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications had no effect on the results of operations or comprehensive income.</span>
CY2021Q1 mind Working Capital
WorkingCapital
19000000.0 USD
CY2021Q1 us-gaap Cash
Cash
4600000 USD
CY2021Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
14200000 USD
CY2020Q1 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
8900000 USD
CY2021 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
4600000 USD
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21215000 USD
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29919000 USD
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21215000 USD
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29919000 USD
CY2021Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
85000 USD
CY2020Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
13000 USD
CY2021Q1 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
0 USD
CY2020Q1 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
0 USD
CY2021Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
85000 USD
CY2020Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
13000 USD
CY2021Q1 mind Contract With Customer Liability And Customer Deposits Current
ContractWithCustomerLiabilityAndCustomerDepositsCurrent
691000 USD
CY2020Q1 mind Contract With Customer Liability And Customer Deposits Current
ContractWithCustomerLiabilityAndCustomerDepositsCurrent
220000 USD
CY2021Q1 mind Contract With Customer Liability And Customer Deposits Non Current
ContractWithCustomerLiabilityAndCustomerDepositsNonCurrent
0 USD
CY2020Q1 mind Contract With Customer Liability And Customer Deposits Non Current
ContractWithCustomerLiabilityAndCustomerDepositsNonCurrent
12000 USD
CY2021Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
691000 USD
CY2020Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
232000 USD
CY2021 us-gaap Interest Paid Net
InterestPaidNet
40000 USD
CY2020 us-gaap Interest Paid Net
InterestPaidNet
63000 USD
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
336000 USD
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
498000 USD
CY2021Q1 mind Accounts Payable Seismic Equipment Purchases
AccountsPayableSeismicEquipmentPurchases
0 USD
CY2020Q1 mind Accounts Payable Seismic Equipment Purchases
AccountsPayableSeismicEquipmentPurchases
812000 USD
CY2021Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
6905000 USD
CY2020Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
7388000 USD
CY2021Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
3466000 USD
CY2020Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
3758000 USD
CY2021Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
2445000 USD
CY2020Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
2720000 USD
CY2021Q1 us-gaap Inventory Gross
InventoryGross
12816000 USD
CY2020Q1 us-gaap Inventory Gross
InventoryGross
13866000 USD
CY2021Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1363000 USD
CY2020Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1210000 USD
CY2021Q1 us-gaap Inventory Net
InventoryNet
11453000 USD
CY2020Q1 us-gaap Inventory Net
InventoryNet
12656000 USD
CY2021Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
5695000 USD
CY2021Q1 us-gaap Accounts Receivable Gross
AccountsReceivableGross
5695000 USD
CY2020Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
9001000 USD
CY2020Q1 us-gaap Accounts Receivable Gross
AccountsReceivableGross
9001000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
948000 USD
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
948000 USD
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2378000 USD
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2378000 USD
CY2021Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
4747000 USD
CY2021Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
4747000 USD
CY2020Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
6623000 USD
CY2020Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
6623000 USD
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
20564000 USD
CY2020Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
22470000 USD
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
15813000 USD
CY2020Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
17051000 USD
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4751000 USD
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5419000 USD
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4751000 USD
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5419000 USD
CY2021 us-gaap Lease Cost
LeaseCost
828000 USD
CY2020 us-gaap Lease Cost
LeaseCost
1200000 USD
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
20000 USD
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
30000 USD
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1471000 USD
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2300000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1471000 USD
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2300000 USD
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1008000 USD
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y9M3D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.10
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0927
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1339000 USD
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
463000 USD
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
961000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1471000 USD
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2300000 USD
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y1M2D
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
1157000 USD
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
1182000 USD
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
635000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1007000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1338000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
421000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
838000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
110000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
222000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
58000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
98000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
24000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
52000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
0 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
21000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1620000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2569000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
149000 USD
CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2020 us-gaap Income Tax Expense Benefit
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445000 USD
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200000 USD
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1600000 USD
CY2021Q1 mind Payment Of Long Term Purchase Commitment
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300000 USD
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0.64
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P10Y
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615000 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2440000 shares
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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4.51
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20000 USD
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CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
41000 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.63
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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133000 shares
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5.31
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4.09
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P6Y6M29D
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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223000 USD
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1778000 shares
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P5Y8M15D
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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2562000 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
4.12
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y6M18D
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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213000 USD
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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950000 USD
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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650000 USD
CY2021 mind Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period
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500000 shares
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P1Y3M18D
CY2021 us-gaap Number Of Operating Segments
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CY2020Q3 mind Common Stock And Preferred Stock Shares Authorized
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CY2020Q3 mind Common Stock And Preferred Stock Shares Authorized
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42000000 shares
CY2020Q3 us-gaap Common Stock Shares Authorized
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40000000 shares
CY2020Q3 us-gaap Common Stock Shares Authorized
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20000000 shares
CY2020Q3 us-gaap Preferred Stock Shares Authorized
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2000000 shares
CY2020Q3 us-gaap Preferred Stock Shares Authorized
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1000000 shares
CY2021Q1 us-gaap Deposits Foreign
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2800000 USD

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0000926423-21-000011.txt Edgar Link pending
0000926423-21-000011-xbrl.zip Edgar Link pending
exhibit1014-10kfye21.htm Edgar Link pending
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