MIND Technology (MIND) AI Stock Analysis

• Market Cap: $52.20M
• Dividend Yield: N/A
• Average Volume (3M): 200.29K
• Price to Earnings (P/E): 20.3
• Beta (1Y): 0.92
• Revenue Growth: 16.74%
• EPS Growth: N/A
• Country: US
• Employees: 145
• Sector: Technology
• Sector Strength: 45
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 0.32
• Shares Outstanding: 7,969,421
• 10 Day Avg. Volume: 286,296
• 30 Day Avg. Volume: 200,294
• PEG Ratio: N/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 Ratio: 6.30
• 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

MIND Technology demonstrates solid financial performance with notable profitability improvements and robust revenue growth. Technical indicators suggest positive momentum, although potential overbought conditions may warrant caution. The valuation appears fair, supported by recent growth trends. Positive earnings call outcomes further bolster the outlook, despite some margin pressures and backlog flatness.

MIND Technology Business Overview & Revenue Model

Company Description

MIND Technology, Inc., together with its subsidiaries, provides technology to the oceanographic, hydrographic, defense, seismic, and maritime security industries. The company's products include the GunLink seismic source acquisition and control systems that provide operators of marine seismic surveys with precise monitoring and control of energy sources; the BuoyLink RGPS tracking system, which is used to offer precise positioning of marine seismic energy sources and streamers; Digishot energy source controllers; Sleeve Gun energy sources; and SeaLink product line of marine sensors and solid streamer systems. It also provides streamer weight collars, depth and pressure transducers, air control valves, and source array systems; spare and replacement parts; and repair and engineering services, training and field service operations, and umbilical terminations, as well as side scan sonar equipment and systems. The company markets its products to governmental and commercial customers through internal sales organization and a network of distributors and representatives. It operates in the United States, Europe, Canada, Latin America, the Asia/South Pacific, Eurasia, and internationally. The company was formerly known as Mitcham Industries, Inc. MIND Technology, Inc. was incorporated in 1987 and is headquartered in The Woodlands, Texas.

How the Company Makes Money

MIND 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.

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.

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.

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

• Technical Analysis Sentiment: Positive
• Last Price: 6.53
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MIND, the sentiment is Positive. The current price of 6.53 is above the 20-day moving average (MA) of 5.41, below the 50-day MA of 6.93, and above the 200-day MA of 5.53, indicating a neutral trend. The MACD of -0.24 indicates Negative momentum. The RSI at 58.08 is Neutral, neither overbought nor oversold. The STOCH value of 77.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MIND.

MIND Technology Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MIND	72 Outperform	$52.20M	20.31	20.31%	―	16.74%	―
ELTK	70 Outperform	$55.73M	13.17	12.41%	2.61%	-0.36%	-40.16%
LGL	64 Neutral	$36.27M	85.01	1.11%	―	28.82%	60.24%
Sector *	59 Neutral	$10.59B	10.09	-6.37%	3.05%	7.44%	-10.67%
CPSH	52 Neutral	$22.08M	―	-19.70%	―	-23.33%	-328.22%
OPTX	47 Neutral	$58.70M	―	-2.17%	―	―	―
NSYS	47 Neutral	$21.37M	6.41	-3.73%	―	-8.04%	-118.60%

MIND Technology Corporate Events

MIND Technology Secures Leadership with CFO Agreement

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.

MIND Technology Reports Strong Q3 2025 Financial Results

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.