NASDAQ : MIND
MIND Technology, Inc. — Financial statements
Technology · Scientific & Technical Instruments · United States
Last price 4.05 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 36.81M
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Financial statements
MIND Technology, Inc. (MIND) reported revenue of 34.78M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 34.78M | 40.95M | 46.86M | 36.51M | 25.01M | 23.11M |
| Cost of Revenue | 20.09M | 22.28M | 25.90M | 20.54M | 15.06M | 17.09M |
| Gross Profit | 14.69M | 18.66M | 20.97M | 15.97M | 9.95M | 6.02M |
| Selling, General & Admin | 13.13M | 13.35M | 11.29M | 12.14M | 12.88M | 14.76M |
| Research & Development | 1.61M | 1.59M | 1.91M | 2.13M | 1.37M | 3.60M |
| Operating Expenses | 15.62M | 15.81M | 14.15M | 15.45M | 15.60M | 20.57M |
| Operating Income | -930.00K | 2.86M | 6.82M | 518.00K | -5.65M | -14.54M |
| Interest Expense | -675.00K | |||||
| Interest & Investment Income | 282.00K | 151.00K | 4.00K | |||
| Currency Exchange Gain (Loss) | 83.00K | |||||
| Other Non Operating Income (Expenses) | -108.00K | -108.00K | -221.00K | -81.00K | -683.00K | 76.00K |
| EBT Excluding Unusual Items | -673.00K | 2.90M | 6.60M | -238.00K | -6.33M | -14.47M |
| Gain (Loss) on Sale of Assets | 457.00K | 476.00K | 939.00K | |||
| Other Unusual Items | 850.00K | |||||
| Pretax Income | -673.00K | 2.90M | 7.06M | 238.00K | -5.39M | -13.62M |
| Income Tax Expense | 1.68M | 2.15M | 1.98M | 1.34M | 699.00K | -39.00K |
| Earnings From Continuing Operations | -2.35M | 750.00K | 5.07M | -1.10M | -6.09M | -13.58M |
| Earnings From Discontinued Operations | 1.37M | -2.74M | -1.51M | |||
| Net Income | -2.35M | 750.00K | 5.07M | 274.00K | -8.83M | -15.09M |
| Preferred Dividends & Other Adjustments | -12.53M | 3.79M | 3.79M | 2.90M | ||
| Net Income to Common | -2.35M | 750.00K | 17.60M | -3.51M | -12.62M | -17.99M |
| Shares Outstanding (Basic) | 8.82M | 8.26M | 4.08M | 1.41M | 1.41M | 1.38M |
| Shares Outstanding (Diluted) | 8.82M | 8.33M | 4.08M | 1.41M | 1.41M | 1.38M |
| EPS (Basic) | -0.27 | 0.09 | 4.32 | -2.50 | -8.98 | -13.06 |
| EPS (Diluted) | -0.27 | 0.09 | 4.32 | -2.50 | -8.98 | -13.09 |
| Free Cash Flow | -3.86M | 1.92M | 214.00K | -5.26M | -3.48M | -17.97M |
| Free Cash Flow Per Share | -0.44 | 0.23 | 0.05 | -3.74 | -2.47 | -13.05 |
| Gross Margin | 42.24% | 45.58% | 44.74% | 43.74% | 39.78% | 26.06% |
| Operating Margin | -2.67% | 6.98% | 14.55% | 1.42% | -22.59% | -62.94% |
| Profit Margin | -6.77% | 1.83% | 37.56% | -9.62% | -50.46% | -77.84% |
| Free Cash Flow Margin | -11.10% | 4.70% | 0.46% | -14.40% | -13.89% | -77.76% |
| EBITDA | -47.00K | 3.73M | 7.76M | 1.70M | -4.31M | -12.34M |
| EBITDA Margin | -0.14% | 9.11% | 16.56% | 4.64% | -17.22% | -53.38% |
| D&A For EBITDA | 883.00K | 873.00K | 944.00K | 1.18M | 1.34M | 2.21M |
| EBIT | -930.00K | 2.86M | 6.82M | 518.00K | -5.65M | -14.54M |
| EBIT Margin | -2.67% | 6.98% | 14.55% | 1.42% | -22.59% | -62.94% |
| Effective Tax Rate | 74.15% | 28.11% | 562.19% | |||
| Revenue as Reported | 23.11M |
Balance sheet
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 15.76M | 19.05M | 5.34M | 5.29M | 778.00K | 5.11M |
| Cash & Short-Term Investments | 15.76M | 19.05M | 5.34M | 5.29M | 778.00K | 5.11M |
| Receivables | 15.03M | 12.57M | 11.82M | 6.57M | 3.25M | 8.13M |
| Inventory | 10.53M | 11.15M | 13.74M | 13.37M | 11.03M | 14.01M |
| Prepaid Expenses | 1.54M | 2.11M | 1.22M | 3.11M | 1.40M | 1.84M |
| Other Current Assets | 5.78M | 159.00K | ||||
| Total Current Assets | 42.85M | 44.88M | 32.12M | 28.34M | 22.23M | 29.25M |
| Property, Plant & Equipment | 2.00M | 2.33M | 2.21M | 2.14M | 2.70M | 6.11M |
| Other Intangible Assets | 1.53M | 1.75M | 2.31M | 2.89M | 3.63M | 6.02M |
| Long-Term Accounts Receivable | 650.00K | |||||
| Long-Term Deferred Tax Assets | 302.00K | 302.00K | 87.00K | 122.00K | ||
| Other Long-Term Assets | 4.29M | |||||
| Total Assets | 46.69M | 49.27M | 36.72M | 33.49M | 32.86M | 42.02M |
| Accounts Payable | 607.00K | 1.21M | 2.56M | 1.62M | 2.49M | 2.05M |
| Accrued Expenses | 2.04M | 1.60M | 1.25M | 1.87M | 621.00K | 556.00K |
| Current Portion of Leases | 678.00K | 686.00K | 577.00K | 751.00K | 903.00K | 869.00K |
| Current Income Taxes Payable | 2.06M | 2.66M | 2.47M | 2.11M | 1.49M | 837.00K |
| Current Unearned Revenue | 373.00K | 320.00K | 189.00K | 203.00K | 144.00K | 232.00K |
| Other Current Liabilities | 434.00K | 971.00K | 1.60M | 3.71M | 3.28M | 6.16M |
| Total Current Liabilities | 6.20M | 7.44M | 8.64M | 10.28M | 8.93M | 10.70M |
| Long-Term Leases | 161.00K | 406.00K | 743.00K | 573.00K | 846.00K | 966.00K |
| Long-Term Deferred Tax Liabilities | 29.00K | 92.00K | ||||
| Total Liabilities | 6.36M | 7.85M | 9.39M | 10.85M | 9.81M | 11.76M |
| Common Stock | 91.00K | 91.00K | 80.00K | 14.00K | 16.00K | 157.00K |
| Additional Paid-In Capital | 150.05M | 148.99M | 135.67M | 113.12M | 129.72M | 128.93M |
| Retained Earnings | -109.84M | -107.70M | -108.45M | -128.31M | -127.64M | -117.86M |
| Treasury Stock | -16.86M | -16.86M | ||||
| Comprehensive Income & Other | 34.00K | 34.00K | 34.00K | 34.00K | 34.00K | -1.88M |
| Total Common Equity | 40.33M | 41.42M | 27.33M | -15.14M | -14.73M | -7.52M |
| Shareholders' Equity | 40.33M | 41.42M | 27.33M | 22.64M | 23.05M | 30.26M |
| Total Liabilities & Equity | 46.69M | 49.27M | 36.72M | 33.49M | 32.86M | 42.02M |
| Total Debt | 839.00K | 1.09M | 1.32M | 1.32M | 1.75M | 1.83M |
| Net Cash (Debt) | 14.92M | 17.96M | 4.02M | 3.96M | -971.00K | 3.28M |
| Net Cash Per Share | 1.69 | 2.16 | 0.98 | 2.82 | -0.69 | 2.38 |
| Filing Date Shares Outstanding | 9.09M | 9.09M | 7.97M | 1.41M | 1.38M | 1.38M |
| Total Common Shares Outstanding | 9.09M | 9.09M | 7.97M | 1.41M | 1.38M | 1.38M |
| Working Capital | 36.66M | 37.44M | 23.47M | 18.06M | 13.30M | 18.55M |
| Book Value Per Share | 4.44 | 4.56 | 3.43 | -10.77 | -10.69 | -5.46 |
| Tangible Book Value | 38.80M | 39.66M | 25.02M | -18.03M | -18.36M | -13.53M |
| Tangible Book Value Per Share | 4.27 | 4.36 | 3.14 | -12.82 | -13.32 | -9.83 |
| Land | 1.61M | 1.58M | 997.00K | 997.00K | 997.00K | 4.55M |
| Machinery | 9.05M | 8.97M | 9.47M | 9.15M | 9.08M | 14.24M |
| Order Backlog | 13.90M | 16.90M | 38.40M | 15.70M | 13.10M |
Cash flow statement
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | -2.35M | 750.00K | 5.07M | 274.00K | -8.83M | -15.09M |
| Depreciation & Amortization | 883.00K | 873.00K | 944.00K | 1.18M | 1.34M | 2.21M |
| Loss (Gain) From Sale of Assets | -457.00K | -476.00K | -939.00K | -155.00K | ||
| Stock-Based Compensation | 2.06M | 1.55M | 235.00K | 261.00K | 654.00K | 643.00K |
| Provision & Write-off of Bad Debts | -453.00K | |||||
| Other Operating Activities | 27.00K | 12.00K | 103.00K | 188.00K | 383.00K | -35.00K |
| Change in Accounts Receivable | -4.11M | -755.00K | -5.25M | -3.32M | 4.86M | -3.25M |
| Change in Inventory | 1.05M | 2.37M | -441.00K | -3.60M | -1.76M | -3.07M |
| Change in Accounts Payable | -2.14M | -2.00M | 45.00K | -334.00K | 775.00K | 713.00K |
| Change in Unearned Revenue | 1.84M | 501.00K | -1.86M | 3.08M | -2.00M | 1.88M |
| Change in Income Taxes | -328.00K | 183.00K | 360.00K | 635.00K | 441.00K | 37.00K |
| Change in Other Net Operating Assets | -383.00K | -895.00K | 1.90M | -847.00K | -10.00K | -565.00K |
| Operating Cash Flow | -3.46M | 2.59M | 651.00K | -4.97M | -2.90M | -17.13M |
| Capital Expenditures | -400.00K | -663.00K | -437.00K | -290.00K | -570.00K | -834.00K |
| Sale of Property, Plant & Equipment | 457.00K | 476.00K | 113.00K | |||
| Divestitures | 761.00K | |||||
| Sale (Purchase) of Intangibles | -12.00K | |||||
| Other Investing Activities | 10.83M | 939.00K | 5.44M | |||
| Investing Cash Flow | -400.00K | -663.00K | 20.00K | 11.02M | 470.00K | 5.36M |
| Short-Term Debt Issued | 2.95M | |||||
| Total Debt Issued | 2.95M | |||||
| Short-Term Debt Repaid | -3.75M | |||||
| Total Debt Repaid | -3.75M | |||||
| Net Debt Issued (Repaid) | -803.00K | |||||
| Issuance of Common Stock | 11.79M | 11.79M | 43.00K | |||
| Repurchase of Common Stock | -1.00K | -2.00K | ||||
| Preferred Dividends Paid | -946.00K | -1.89M | -2.53M | |||
| Dividends Paid | -946.00K | -1.89M | -2.53M | |||
| Other Financing Activities | -619.00K | 214.00K | ||||
| Financing Cash Flow | 11.79M | 11.79M | -619.00K | -1.53M | -1.90M | 12.19M |
| Foreign Exchange Rate Adjustments | 6.00K | -5.00K | -5.00K | -6.00K | 86.00K | |
| Net Cash Flow | 7.93M | 13.71M | 47.00K | 4.51M | -4.34M | 503.00K |
| Free Cash Flow | -3.86M | 1.92M | 214.00K | -5.26M | -3.48M | -17.97M |
| Free Cash Flow Margin | -11.10% | 4.70% | 0.46% | -14.40% | -13.89% | -77.76% |
| Free Cash Flow Per Share | -0.44 | 0.23 | 0.05 | -3.74 | -2.47 | -13.05 |
| Levered Free Cash Flow | -1.87M | 3.18M | -183.75K | 954.88K | -1.24M | -6.02M |
| Unlevered Free Cash Flow | -1.87M | 3.18M | -183.75K | 1.38M | -1.24M | -6.02M |
| Cash Interest Paid | 634.00K | 4.00K | 31.00K | |||
| Cash Income Tax Paid | 2.27M | 2.20M | 1.65M | 847.00K | 371.00K | 355.00K |
| Change in Working Capital | -4.07M | -599.00K | -5.25M | -4.39M | 2.32M | -4.26M |
Ratios
Fiscal year February - January; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 36.81M | 79.08M | 73.88M | 8.43M | 9.03M | 19.01M |
| Enterprise Value | 21.89M | 60.96M | 71.90M | 42.16M | 47.81M | 48.06M |
| Last Close Price | 4.05 | 8.75 | 9.27 | 6.00 | 6.55 | 13.80 |
| PE Ratio | 105.44 | 4.20 | ||||
| Forward PE | 62.62 | 14.96 | 12.92 | 33.60 | 202.33 | 202.33 |
| PS Ratio | 1.06 | 1.93 | 1.58 | 0.23 | 0.36 | 0.82 |
| PB Ratio | 0.91 | 1.91 | 2.70 | 0.37 | 0.39 | 0.63 |
| P/TBV Ratio | 0.95 | 1.99 | 2.95 | |||
| P/FCF Ratio | 41.12 | 345.22 | ||||
| P/OCF Ratio | 30.58 | 113.48 | ||||
| PEG Ratio | 20.23 | 20.23 | 20.23 | 20.23 | 20.23 | |
| EV/Sales Ratio | 0.63 | 1.49 | 1.53 | 1.16 | 1.91 | 2.08 |
| EV/EBITDA Ratio | 16.34 | 9.26 | 24.86 | |||
| EV/EBIT Ratio | 21.33 | 10.54 | 81.39 | |||
| EV/FCF Ratio | 31.70 | 335.97 | ||||
| Debt / Equity Ratio | 0.02 | 0.03 | 0.05 | 0.06 | 0.08 | 0.06 |
| Debt / EBITDA Ratio | 0.94 | 0.23 | 0.15 | 0.52 | ||
| Debt / FCF Ratio | 0.57 | 6.17 | ||||
| Net Debt / Equity Ratio | -0.37 | -0.43 | -0.15 | -0.17 | 0.04 | -0.11 |
| Net Debt / EBITDA Ratio | 317.43 | -4.81 | -0.52 | -2.34 | -0.23 | 0.27 |
| Net Debt / FCF Ratio | 3.87 | -9.34 | -18.77 | 0.75 | -0.28 | 0.18 |
| Asset Turnover | 0.84 | 0.95 | 1.33 | 1.10 | 0.67 | 0.56 |
| Inventory Turnover | 1.80 | 1.79 | 1.91 | 1.68 | 1.20 | 1.34 |
| Quick Ratio | 4.97 | 4.25 | 1.98 | 1.15 | 0.45 | 1.24 |
| Current Ratio | 6.92 | 6.03 | 3.71 | 2.76 | 2.49 | 2.73 |
| Return on Equity (ROE) | -6.81% | 2.18% | 20.31% | -4.81% | -22.86% | -44.76% |
| Return on Assets (ROA) | -1.41% | 4.15% | 12.14% | 0.98% | -9.43% | -22.23% |
| Return on Invested Capital (ROIC) | -3.71% | 3.16% | 23.34% | -11.21% | -22.15% | -52.78% |
| Return on Capital Employed (ROCE) | -2.30% | 6.80% | 24.30% | 2.20% | -23.60% | -46.40% |
| Earnings Yield | -6.59% | 0.95% | 6.87% | 3.25% | -97.79% | -79.36% |
| FCF Yield | -10.48% | 2.43% | 0.29% | -62.33% | -38.48% | -94.53% |
| Payout Ratio | 345.25% | |||||
| Buyback Yield / Dilution | -19.82% | -104.22% | -190.04% | -0.07% | -2.03% | -10.00% |