Mind Gym (MIND) AI Stock Analysis

• Market Cap: £13.04M
• Dividend Yield: N/A
• Average Volume (3M): 4.60K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.75
• Revenue Growth: -27.82%
• EPS Growth: -3083.87%
• Country: UK
• Employees: 256
• Sector: Industrials
• Sector Strength: 72
• Industry: Specialty Business Services
• EPS (TTM): -0.02
• Shares Outstanding: 100,409,540
• 10 Day Avg. Volume: 3,301
• 30 Day Avg. Volume: 4,604
• PEG Ratio: 0.10
• Price to Book (P/B): 6.07
• Price to Sales (P/S): 0.56
• P/FCF Ratio: 50.02
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): >-0.01
• Revenue Forecast (FY): £32.49M

• Rating: 44 Neutral
• Price Target: 12.50p ▲(4.17% Upside)
• Action: Reiterated Date: 12/07/25
• Date: Action: Reiterated 12/07/25

Mind Gym's overall stock score is primarily impacted by its weak financial performance and bearish technical indicators. The company's strategic transformation efforts, while promising, have yet to yield positive financial results. The valuation remains unattractive due to ongoing losses and lack of dividend yield. Despite some positive signs from corporate events, the immediate outlook remains challenging.

Positive Factors

Enterprise-focused, blended learning model

A client-facing model selling programs and related services to large employers creates durable revenue channels. Enterprise engagements and digital delivery enable multi-year relationships, cross-sell of programs and scalable margins as digital adoption grows, supporting steadier revenue streams over time.

Improving operating cash flow

Recent positive operating cash flow and intermittent positive free cash flow indicate the business can generate internal liquidity. This improves runway for the company’s three-year transformation, reduces near-term financing dependency, and provides capacity to invest in product and sales capability.

Conservative use of leverage

A manageable debt profile reduces refinancing and interest-rate vulnerability, preserving strategic flexibility. Conservative leverage allows the company to fund restructuring or growth initiatives without immediate distress, supporting stability during execution of its transformation program.

Negative Factors

Material revenue contraction

A near-term revenue decline of ~28% signals loss of scale that undermines fixed-cost absorption and weakens negotiating leverage with large clients. Continued contraction over several quarters can erode market position and make it harder to fund and justify transformation investments.

Persistent operating losses and margin pressure

Sustained negative operating and EBITDA margins show the business is not yet financially self-sustaining. Ongoing losses reduce retained earnings and constrain internal reinvestment, increasing reliance on external capital or cost cuts which can impair long-term growth and talent retention.

Eroding equity and rising liabilities

Decreasing shareholder equity combined with rising liabilities narrows the balance-sheet buffer against shocks, limits borrowing capacity and could lead to covenant pressure or dilution if new capital is needed. This weakens financial resilience during the transformation period.

Mind Gym Business Overview & Revenue Model

Company Description

Mind Gym plc operates as a behavioral science company in the United Kingdom, Singapore, the United States, and Canada. It offers research, strategic advice, management and employee development, employee communication, and related services. The company also provides various solutions for performance management; leadership development; diversity, equity, and inclusion; onboarding; personal effectiveness; respect; customer services; change; and ethics. Mind Gym plc was incorporated in 1999 and is based in London, the United Kingdom.

How the Company Makes Money

Mind Gym generates revenue through multiple streams, primarily by offering its training and development programs to organizations on a subscription or per-session basis. Their key revenue model includes fees for in-person and virtual workshops, online courses, and tailored coaching sessions. Additionally, the company may engage in partnerships with large corporations and educational institutions, providing custom solutions that align with specific organizational needs, thus broadening its client base and enhancing revenue potential. Significant contracts with major corporations can also contribute to stable, recurring revenue, helping to solidify Mind Gym’s financial performance.

Mind Gym Financial Statement Overview

Summary

Mind Gym is facing financial headwinds with declining revenues and profitability issues. The balance sheet exhibits some stability but is marred by decreasing equity and increasing liabilities. Cash flow improvements offer a glimmer of hope, though the overall financial health requires strategic intervention to enhance profitability and stabilize operations.

Income Statement

Mind Gym has shown a declining revenue trend over the past few years, with significant fluctuations in profitability. The gross profit margin remains relatively strong but the net profit margin has deteriorated due to consistent net losses. Negative EBIT and EBITDA margins indicate operational challenges.

Balance Sheet

The company's debt-to-equity ratio is manageable, suggesting a conservative use of leverage. However, declining stockholders' equity and increasing liabilities signal potential balance sheet vulnerabilities. The equity ratio has decreased, revealing reduced financial stability.

Cash Flow

Mind Gym's cash flow situation shows some improvement with positive operating cash flow recently, after a period of deficits. Free cash flow has fluctuated but remains positive, which is a positive indicator of liquidity management. However, the volatility in cash flows raises sustainability concerns.

Breakdown	TTM	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020
Income Statement
Total Revenue	31.91M	38.61M	44.91M	55.01M	48.67M	39.38M
Gross Profit	26.33M	33.44M	38.72M	48.65M	42.38M	34.42M
EBITDA	-6.05M	-3.56M	-9.20M	5.35M	1.25M	947.00K
Net Income	-9.90M	-8.19M	-10.89M	2.94M	1.60M	-232.00K
Balance Sheet
Total Assets	11.20M	12.41M	22.38M	37.42M	34.64M	34.59M
Cash, Cash Equivalents and Short-Term Investments	355.00K	570.00K	1.37M	7.59M	10.02M	16.83M
Total Debt	2.31M	1.16M	2.02M	3.11M	2.21M	3.17M
Total Liabilities	10.22M	8.86M	10.54M	14.60M	15.01M	17.13M
Stockholders Equity	984.00K	3.55M	11.84M	22.81M	19.63M	17.45M
Cash Flow
Free Cash Flow	-113.00K	431.00K	-4.90M	-1.50M	-5.79M	2.19M
Operating Cash Flow	-65.00K	1.93M	-665.00K	3.63M	352.00K	5.41M
Investing Cash Flow	-978.00K	-1.50M	-4.20M	-5.07M	-6.13M	-3.20M
Financing Cash Flow	-713.00K	-1.10M	-1.26M	-1.32M	-1.20M	-1.03M

Mind Gym Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 12.00
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:MIND, the sentiment is Positive. The current price of 12 is below the 20-day moving average (MA) of 13.00, below the 50-day MA of 12.41, and below the 200-day MA of 15.06, indicating a neutral trend. The MACD of 0.13 indicates Positive momentum. The RSI at 68.21 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:MIND.

Mind Gym Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MTO	76 Outperform	£2.29B	23.12	20.62%	2.58%	11.42%	-17.18%
ITRK	74 Outperform	£7.25B	20.95	29.71%	3.44%	1.14%	17.74%
SRP	73 Outperform	£2.98B	63.14	5.21%	1.27%	0.84%	-62.73%
CPI	64 Neutral	£408.30M	23.73	9.00%	―	-4.87%	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
RWS	60 Neutral	£282.03M	-2.81	-12.00%	15.28%	-3.91%	-310.36%
MIND	44 Neutral	£13.04M	-1.32	-168.28%	―	-27.82%	-3083.87%

Mind Gym Corporate Events

MindGym launches strategic review that may lead to full takeover offer

MindGym PLC has launched a private strategic review in response to recent press speculation, confirming it is in early-stage discussions with selected third parties that could potentially lead to an offer for the entire share capital of the company under the UK Takeover Code. The board, which has appointed J Goodwin & Co LLP as financial adviser, is examining a wide spectrum of options including joint ventures, commercial partnerships, acquisitions, disposals or demergers of parts of the business, changes to strategy or management, returns of capital to shareholders, or a full sale of the company, though it stressed there is no certainty that any offer will materialise or on what terms. The announcement triggers an official offer period under the Takeover Code, imposing disclosure obligations on significant shareholders and market participants, and signals a potentially pivotal moment for MindGym’s future ownership structure and strategic direction, with implications for investors as the board seeks to unlock value amid heightened regulatory transparency requirements.

The most recent analyst rating on (GB:MIND) stock is a Hold with a £11.00 price target. To see the full list of analyst forecasts on Mind Gym stock, see the GB:MIND Stock Forecast page.

MindGym Reports Revenue Decline Amid Strategic Transformation

MindGym has announced its half-year results, revealing a 33% decline in revenue to £13.5 million, primarily due to the conclusion of a multi-year energy framework agreement and challenges in the US market. Despite these setbacks, the company is committed to its three-year transformation strategy, focusing on becoming a strategic behavior-change partner. Key initiatives include the launch of a High-Performance Behaviour Model and a new membership model, which have started to show positive results in sales effectiveness and client engagement. MindGym expects to return to profitability in the second half of the year, driven by increased license revenues and a reduced cost base.

The most recent analyst rating on (GB:MIND) stock is a Hold with a £13.00 price target. To see the full list of analyst forecasts on Mind Gym stock, see the GB:MIND Stock Forecast page.