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Mind Technology Inc (MIND)
:MIND
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MIND Technology
(NASDAQ:MIND)
72Outperform
MIND Technology (MIND) vs. S&P 500 (SPY)
Market Cap
$38.81M
Dividend YieldN/A
Average Volume (3M)227.99K
Price to Earnings (P/E)10.7
Beta (1Y)0.91
Revenue Growth16.74%
EPS GrowthN/A
CountryUS
Employees145
SectorTechnology
Sector Strength40
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)0.45
Shares Outstanding7,969,421
10 Day Avg. Volume180,255
30 Day Avg. Volume227,987
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)1.24
Price to Cash Flow (P/CF)6.10
P/FCF Ratio6.30
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
MIND Technology Business Overview & Revenue Model
Company DescriptionMIND Technology, Inc. is a provider of geophysical and sonar solutions primarily serving the defense, marine exploration, and seismic industries. The company designs, manufactures, and sells specialized marine equipment including sonar systems and seismic data acquisition and processing systems. These technologies are utilized for a variety of applications such as oceanographic research, oil and gas exploration, and naval defense operations.
How the Company Makes MoneyMIND Technology generates revenue primarily through the sale and lease of its advanced marine technology equipment and systems. A key revenue stream for the company is the sales of its sonar and seismic equipment, which are used by both commercial and governmental entities around the globe. Additionally, the company earns income through the provision of support and maintenance services for its products, ensuring continued functionality and customer satisfaction. Significant partnerships with defense contractors and exploration companies further bolster its revenue, as these collaborations often lead to long-term contracts and steady income streams.
MIND Technology Financial Statement Overview
Summary
MIND Technology has shown significant improvements in profitability and revenue growth, with a gross profit margin of 44.5% and a net profit margin of 9.9%. The revenue growth rate is strong at 23.8%. However, cash flow performance remains challenging with negative free cash flow growth.Income Statement
MIND Technology has shown a significant improvement in its financial performance over the TTM period. The company achieved a gross profit margin of 44.5%, indicating strong cost management. The net profit margin has turned positive at 9.9%, a marked improvement from previous years of losses, highlighting a return to profitability. Revenue growth rate from the previous annual period is an impressive 23.8%, reflecting strong sales momentum. EBIT and EBITDA margins are at 14.1% and 17.1% respectively, showing enhanced operational efficiency. However, past volatility in earnings remains a concern.68
Positive
Balance Sheet
The balance sheet of MIND Technology is robust, with a low debt-to-equity ratio of 0.06, indicating minimal leverage and financial risk. The equity ratio stands at 69.8%, suggesting a strong equity base relative to total assets. Return on equity is positive at 17.8%, reflecting effective utilization of equity to generate profits. However, the company has experienced fluctuations in equity and asset levels, which may pose risks if not managed carefully.72
Positive
Cash Flow
MIND Technology's cash flow performance is mixed. The free cash flow growth rate is negative, indicating challenges in generating free cash flow. The operating cash flow to net income ratio is negative, pointing to cash flow difficulties relative to reported profits. The free cash flow to net income ratio is also negative, highlighting potential issues in converting earnings into cash flow. Nevertheless, the company has improved its cash position over the TTM period, reducing reliance on external financing.55
Neutral
| Breakdown | |||||
| TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 45.20M | 36.51M | 35.09M | 23.11M | 21.21M | 42.67M | Gross Profit |
| 20.11M | 14.79M | 12.97M | 6.02M | 7.31M | 16.62M | EBIT |
| 6.36M | 518.00K | -7.61M | -14.54M | -11.80M | -9.62M | EBITDA |
| 7.74M | 2.03M | -4.05M | -11.41M | -10.67M | -3.70M | Net Income Common Stockholders |
| 4.48M | -2.07M | -7.43M | -13.58M | -14.00M | -11.29M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 3.50M | 5.29M | 778.00K | 5.11M | 4.61M | 3.09M | Total Assets |
| 36.11M | 33.49M | 32.86M | 42.02M | 39.76M | 58.23M | Total Debt |
| 1.53M | 1.32M | 1.75M | 1.83M | 2.32M | 2.30M | Net Debt |
| -1.98M | -3.96M | 971.00K | -3.28M | -2.29M | -790.00K | Total Liabilities |
| 10.90M | 10.85M | 9.81M | 11.76M | 9.35M | 10.58M | Stockholders Equity |
| 25.21M | 22.64M | 23.05M | 30.26M | 30.42M | 47.65M |
| Cash Flow | Free Cash Flow | ||||
| -1.05M | -5.26M | -3.49M | -17.97M | -6.93M | -9.81M | Operating Cash Flow |
| -750.00K | -4.97M | -2.90M | -17.13M | -6.36M | -5.82M | Investing Cash Flow |
| -10.63M | 11.02M | 470.00K | 5.36M | 3.21M | -2.09M | Financing Cash Flow |
| -1.56M | -1.53M | -1.90M | 12.19M | 4.51M | 1.75M |
MIND Technology Technical Analysis
Negative
4.87
Price Trends
7.92
Negative
6.88
Negative
5.47
Negative
Market Momentum
-0.56
Positive
32.44
Neutral
14.34
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MIND, the sentiment is Negative. The current price of 4.87 is below the 20-day moving average (MA) of 6.52, below the 50-day MA of 7.92, and below the 200-day MA of 5.47, indicating a bearish trend. The MACD of -0.56 indicates Positive momentum. The RSI at 32.44 is Neutral, neither overbought nor oversold. The STOCH value of 14.34 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MIND.
MIND Technology Risk Analysis
MIND Technology disclosed 41 risk factors in its most recent earnings report. MIND Technology reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
MIND Technology Peers Comparison
Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $12.40B | 15.41 | 27.06% | 0.79% | 16.23% | 1403.29% | |
72 Outperform | $38.81M | 10.71 | 19.54% | ― | 16.74% | ― | |
72 Outperform | $1.94B | 10.21 | 16.78% | ― | 33.25% | 83.81% | |
65 Neutral | $1.73B | 11.90 | 21.97% | ― | 9.75% | 50.93% | |
57 Neutral | $18.57B | 9.42 | -13.42% | 2.72% | 5.01% | -23.43% | |
57 Neutral | $225.74M | ― | -1.62% | ― | -11.47% | -187.17% | |
52 Neutral | $1.92B | ― | -4.95% | ― | 24.44% | 53.99% |
* Technology Sector Average
Performance Comparison
MIND
MIND Technology
4.87
0.40
8.95%
FTI
TechnipFMC
25.16
-1.27
-4.81%
OII
Oceaneering International
17.14
-7.92
-31.60%
OIS
Oil States International
3.64
-2.70
-42.59%
TDW
Tidewater
34.78
-63.81
-64.72%
RIG
Transocean
2.17
-4.38
-66.87%
MIND Technology Earnings Call Summary
Earnings Call Date: Dec 10, 2024 | % Change Since: 15.13% | Next Earnings Date: Apr 22, 2025
Earnings Call Sentiment Positive
The earnings call presented a positive outlook for MIND Technology, with significant revenue growth and profitability, a strong backlog, and a positive cash flow. However, challenges such as flat backlog figures and pressure on gross margins were noted. The company's successful capital restructuring and strategic product investments provide a foundation for future growth.Highlights
Strong Revenue Growth
Marine Technology Products revenues for Q3 fiscal 2025 were $12.1 million, up about 143% from the same period a year ago and 21% sequentially from Q2 fiscal 2025.
Consistent Profitability
The company achieved its fourth consecutive quarter of profitability. Q3 net income was approximately $1.3 million, an improvement of approximately $3 million from a net loss of $1.7 million in the third quarter of fiscal 2024.
Strong Backlog and Order Pipeline
The company entered Q4 with a backlog of approximately $26 million and an active pipeline estimated to be more than double the backlog, indicating strong future prospects.
Positive Cash Flow
Generated $1.6 million of cash flow from operations in Q3, representing an 84% increase compared to Q2.
Successful Capital Restructuring
Conversion of all preferred stock into common stock, issuing approximately 6.6 million shares, simplifying the capital structure.
Lowlights
Flat Backlog
While the backlog remains strong at $26 million, it was essentially flat compared to previous quarters.
Gross Margin Pressures
Gross profit margin was 45% for the quarter, essentially flat year-over-year and down sequentially.
Limited Revenue from New Products
While customer feedback is positive for the Spectral Ai Software Suite, revenue from this product has been minimal.
Company Guidance
During the MIND Technology Q3 2025 earnings call, the management highlighted several key financial metrics and strategic updates. The company reported strong third-quarter revenues of $12.1 million, marking a 143% increase year-over-year and a 21% sequential rise, driven by robust order flow and a backlog of approximately $26 million. This growth reflects a positive shift in market conditions and effective cost management strategies. The gross profit for the quarter was $5.4 million, with a margin of 45%, and the company achieved its fourth consecutive quarter of profitability with a net income of $1.3 million. Operating income reached $1.9 million, a substantial improvement from a loss in the prior year. MIND Technology's adjusted EBITDA was $2 million, reflecting a turnaround from a loss in the previous year. The company also emphasized its clean capital structure following the conversion of preferred stock to common stock, which has enhanced its financial flexibility. Looking ahead, MIND Technology is optimistic about sustaining growth and profitability into fiscal 2026, supported by a strong pipeline of pending orders valued at more than double the current backlog.MIND Technology Corporate Events
Executive/Board ChangesBusiness Operations and Strategy
MIND Technology Secures Leadership with CFO Agreement
Positive
Jan 29, 2025
On January 24, 2025, MIND Technology, Inc. entered into an Employment Agreement with Mr. Mark A. Cox, who will continue as Vice President and Chief Financial Officer. The agreement, effective for two years, includes provisions for base salary, bonuses, equity compensation, and severance benefits, with automatic one-year renewals unless terminated by either party. This strategic move ensures leadership stability and aligns executive incentives with company performance, potentially strengthening MIND Technology’s operational and market position.
Financial Disclosures
MIND Technology Reports Strong Q3 2025 Financial Results
Positive
Dec 10, 2024
MIND Technology reported a significant increase in revenues and profitability for its third fiscal quarter of 2025, with revenues rising to $12.1 million from $5.0 million in the same quarter the previous year. The company achieved an operating income of $1.9 million compared to a loss of $1.5 million last year, and net income rose to $1.3 million from $568,000. Notably, the net income attributable to common shareholders soared to $15.7 million, reflecting a substantial improvement. CEO Rob Capps attributed this growth to macroeconomic tailwinds, enhanced customer engagement, and improved execution, projecting continued profitability and a robust order pipeline that exceeds the current backlog, signaling a positive outlook for future financial results.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.