MIND

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MIND Technology, Inc.

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Key Metrics

Previous Close: $4.68
52-Week Range: $4.55 – $14.50
Market Cap: $42.26M
P/E (TTM): 29.06
EPS (TTM): 0.16
Dividend Yield: —

Advanced Metrics

Price/Book: 1.02
PEG Ratio: 0.37
Return on Equity: 3.84%
Return on Assets: 5.07%
Gross Margin: 45.49%
Operating Margin: 0.14%
Profit Margin: 3.06%
Current Ratio: 5.20
Debt/Equity: 0.02
Total Debt: $910.00K
Free Cash Flow: $-2.19M
Revenue Growth: 22.40%
Earnings Growth: —
Enterprise Value: $25.79M

MIND Income statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Revenue	$25.01M	$36.51M	$46.86M	$40.95M
Cost of Revenue	$15.06M	$20.54M	$25.90M	$22.28M
Gross Profit	$9.95M	$15.97M	$20.97M	$18.66M
Research & Development	$1.37M	$2.13M	$1.91M	$1.59M
Selling, General & Admin	$12.88M	$12.14M	$11.29M	$13.35M
Operating Expenses	$15.60M	$15.45M	$14.15M	$15.81M
Operating Income	-$5.65M	$518.00K	$6.82M	$2.86M
EBITDA	-$3.76M	$2.03M	$7.76M	$3.73M
Pretax Income	-$5.39M	$238.00K	$7.06M	$2.90M
Income Tax	$699.00K	$1.34M	$1.98M	$2.15M
Net Income	-$8.83M	$274.00K	$5.07M	$750.00K
Diluted EPS	-9.20	-2.50	4.32	0.09
Diluted Shares	1.38M	1.41M	4.08M	8.33M

MIND Balance Sheet statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Cash & Equivalents	$778.00K	$5.29M	$5.34M	$19.05M
Receivables	$3.25M	$6.57M	$11.82M	$12.57M
Inventory	$11.03M	$13.37M	$13.74M	$11.15M
Current Assets	$22.23M	$28.34M	$32.12M	$44.88M
Total Assets	$32.86M	$33.49M	$36.72M	$49.27M
Current Liabilities	$8.93M	$10.28M	$8.64M	$7.44M
Total Debt	$1.75M	$1.32M	$1.32M	$1.09M
Total Liabilities	$9.81M	$10.85M	$9.39M	$7.85M
Retained Earnings	-$127.64M	-$128.31M	-$108.45M	-$107.70M
Shareholders' Equity	$23.05M	$22.64M	$27.33M	$41.42M
Working Capital	$13.30M	$18.06M	$23.47M	$37.44M

MIND Cash Flow statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Operating Cash Flow	-$2.90M	-$4.97M	$651.00K	$2.59M
Capital Expenditure	-$582.00K	-$290.00K	-$437.00K	-$663.00K
Free Cash Flow	-$3.49M	-$5.26M	$214.00K	$1.92M
Depreciation & Amortisation	$1.89M	$1.52M	$944.00K	$873.00K
Stock-Based Compensation	$654.00K	$261.00K	$235.00K	$1.55M
Investing Cash Flow	$470.00K	$11.02M	$20.00K	-$663.00K
Financing Cash Flow	-$1.90M	-$1.53M	-$619.00K	$11.79M
Dividends Paid	-$1.89M	-$946.00K	$0.00	—
Share Repurchases	-$1.00K	$0.00	—	—
Net Change in Cash	-$4.33M	$4.52M	$52.00K	$13.71M

MIND Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$7.90M	$13.56M	$9.69M	$9.80M	$9.67M
Cost of Revenue	$4.57M	$6.73M	$5.17M	$5.80M	$5.58M
Gross Profit	$3.33M	$6.83M	$4.51M	$3.99M	$4.10M
Research & Development	$380.00K	$311.00K	$506.00K	$389.00K	$310.00K
Selling, General & Admin	$3.38M	$3.64M	$3.02M	$3.31M	$3.54M
Operating Expenses	$3.99M	$4.17M	$3.74M	$3.91M	$4.08M
Operating Income	-$658.00K	$2.66M	$774.00K	$78.00K	$14.00K
EBITDA	-$433.00K	$2.88M	$986.00K	$298.00K	$242.00K
Pretax Income	-$676.00K	$2.60M	$778.00K	$200.00K	$65.00K
Income Tax	$294.00K	$670.00K	$716.00K	$471.00K	$476.00K
Net Income	-$970.00K	$1.93M	$62.00K	-$271.00K	-$411.00K
Diluted EPS	-0.12	0.24	0.01	-0.03	-0.05
Diluted Shares	7.97M	7.97M	8.05M	9.04M	9.09M

MIND Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$9.17M	$7.83M	$19.39M	$19.05M	$17.66M
Receivables	$7.78M	$10.93M	$10.61M	$12.57M	$16.52M
Inventory	$13.45M	$11.82M	$11.71M	$11.15M	$10.98M
Current Assets	$31.71M	$31.73M	$42.78M	$44.88M	$46.74M
Total Assets	$36.23M	$35.83M	$47.34M	$49.27M	$50.76M
Current Liabilities	$8.94M	$6.62M	$6.82M	$7.44M	$8.98M
Total Debt	$1.22M	$841.00K	$1.27M	$1.09M	$910.00K
Total Liabilities	$9.59M	$6.99M	$7.40M	$7.85M	$9.24M
Retained Earnings	-$109.42M	-$107.49M	-$107.43M	-$107.70M	-$108.11M
Shareholders' Equity	$26.63M	$28.84M	$39.94M	$41.42M	$41.52M
Working Capital	$22.77M	$25.11M	$35.97M	$37.44M	$37.76M

MIND Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$4.07M	-$1.16M	$894.00K	-$1.22M	-$1.35M
Capital Expenditure	-$237.00K	-$182.00K	-$93.00K	-$151.00K	-$48.00K
Free Cash Flow	$3.83M	-$1.34M	$801.00K	-$1.37M	-$1.39M
Depreciation & Amortisation	$225.00K	$217.00K	$211.00K	$220.00K	$228.00K
Stock-Based Compensation	$272.00K	$281.00K	$283.00K	$714.00K	$518.00K
Investing Cash Flow	-$237.00K	-$182.00K	-$93.00K	-$151.00K	-$48.00K
Financing Cash Flow	$0.00	$0.00	$10.75M	$1.03M	$0.00
Net Change in Cash	$3.83M	-$1.34M	$11.55M	-$337.00K	-$1.39M

Market Snapshot

About

MIND Technology provides marine seismic survey and technology products for defense, oil and gas exploration, and oceanographic research. The company manufactures sonar systems, seismic sensors, and underwater positioning equipment.