Mind Gym (MIND) AI Stock Analysis

• Market Cap: £11.54M
• Dividend Yield: N/A
• Average Volume (3M): 4.60K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.61
• 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: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: 11.00p ▼(-4.35% Downside)

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

Cash Flow Improvements

Positive operating cash flow indicates improved liquidity management, which can support operational needs and strategic investments.

Revenue Model Diversification

A diversified revenue model helps mitigate risks associated with reliance on a single income source, enhancing financial stability.

Strong Gross Profit Margin

A strong gross profit margin indicates efficient cost management and pricing power, supporting long-term profitability.

Negative Factors

Declining Revenue Trend

A declining revenue trend can indicate challenges in market demand or competitive positioning, impacting future growth prospects.

Increasing Liabilities

Rising liabilities can strain financial resources and limit the company's ability to invest in growth opportunities.

Deteriorating Net Profit Margin

A deteriorating net profit margin reflects operational inefficiencies, which can erode shareholder value over time.

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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 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: Negative
• Last Price: 11.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:MIND, the sentiment is Negative. The current price of 11.5 is below the 20-day moving average (MA) of 13.30, below the 50-day MA of 13.99, and below the 200-day MA of 17.51, indicating a bearish trend. The MACD of -0.83 indicates Positive momentum. The RSI at 3.18 is Positive, neither overbought nor oversold. The STOCH value of 13.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:MIND.

Mind Gym Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KEYS	76 Outperform	£204.26M	20.98	56.75%	5.84%	16.29%	22.80%
DSW	75 Outperform	£12.31M	10.70	11.90%	5.33%	186.12%	294.83%
RST	66 Neutral	£338.89M	36.08	4.01%	2.21%	6.90%	145.00%
CPI	64 Neutral	£402.67M	24.63	9.00%	―	-4.87%	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
KGH	61 Neutral	£148.46M	19.59	7.40%	3.03%	8.01%	-23.02%
MIND	44 Neutral	£11.54M	-1.17	-168.28%	―	-27.82%	-3083.87%

Mind Gym Corporate Events

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.

Mind Gym to Release Half-Year Results on 4 December 2025

Mind Gym, a leader in human capital and business improvement solutions, has announced that it will release its half-year results for the period ending 30 September 2025 on 4 December 2025. The announcement includes a presentation for analysts and investors, which will be accessible on their investor website. This upcoming release is significant for stakeholders as it provides insights into the company’s performance and strategic direction in its key markets.

MindGym’s Strategic Shift Amidst Challenging Market Conditions

MindGym is undergoing a three-year transformation strategy to shift from being an episodic training provider to a strategic behavioral-change partner. Despite challenging market conditions and the absence of a significant multi-year agreement, the company is focusing on rebuilding its sales organization and aligning its products under a High-Performance Behaviour Model. The first half of FY26 saw a 16% revenue decline compared to the previous year, excluding the concluded agreement, and an adjusted EBITDA loss of £1.0m. However, MindGym anticipates a stronger second half driven by increased membership revenues and improved sales and marketing effectiveness. The company has also removed £3.5m in annualized costs to enhance flexibility and efficiency.

MindGym Issues New Shares Under Incentive Plan

MindGym announced the issuance of 66,666 new ordinary shares following the exercise of options under its 2022 Long Term Incentive Plan. The new shares will be admitted to trading on AIM, increasing the total number of shares to 100,409,536, which may impact shareholder notifications regarding their interests.

MindGym Appoints Nicholas Stone as Interim CFO

MindGym has appointed Nicholas Stone as Interim Chief Financial Officer to cover the maternity leave of current CFO Emily Fyffe, starting October 2025. Stone, who has extensive experience in senior finance roles, will ensure a seamless transition and support the company’s ongoing transformation efforts.