MIND Technology (MIND) AI Stock Analysis

• Market Cap: $80.65M
• Dividend Yield: N/A
• Average Volume (3M): 212.67K
• Price to Earnings (P/E): 51.5
• Beta (1Y): 1.29
• Revenue Growth: 22.59%
• EPS Growth: N/A
• Country: US
• Employees: 146
• Sector: Technology
• Sector Strength: 87
• Industry: Hardware, Equipment & Parts
• EPS (TTM): -0.12
• Shares Outstanding: 7,969,421
• 10 Day Avg. Volume: 202,195
• 30 Day Avg. Volume: 212,669
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.56
• Enterprise Value/Revenue: 1.01
• Enterprise Value/Gross Profit: 2.29
• Enterprise Value/Ebitda: 7.48
• 1Y Price Target: $11.50
• Price Target Upside: 13.64% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 67 Neutral
• Price Target: $11.50 ▲(13.64% Upside)

MIND Technology's overall stock score reflects a mix of positive financial recovery and technical momentum, offset by valuation concerns and operational challenges. The company's strong balance sheet and optimistic outlook for future growth are significant positives, while the high P/E ratio and recent revenue decline pose risks.

MIND Technology Business Overview & Revenue Model

Company Description

MIND Technology, Inc. is a leading provider of technology solutions for the marine and offshore industries, specializing in advanced sonar systems and underwater technologies. The company operates primarily through two segments: Marine Technology and Environmental Technology. MIND's core products include high-resolution sonar imaging systems, underwater mapping technologies, and environmental monitoring tools designed for various applications, including oil and gas exploration, marine research, and maritime security.

How the Company Makes Money

MIND Technology generates revenue through the sale of its advanced sonar systems and related services, which are marketed to government agencies, commercial shipping companies, and research institutions. Key revenue streams include the direct sale of hardware, recurring revenue from software licenses, and service contracts for maintenance and support. Additionally, the company benefits from partnerships with other technology firms and research organizations, which can lead to joint ventures and collaborative projects that further enhance its product offerings and market reach.

MIND Technology Financial Statement Overview

Summary

MIND Technology has shown a significant turnaround in financial performance with a return to profitability and improved cash flows. The balance sheet remains strong with low leverage, providing a solid foundation for future growth. However, the company faces challenges with revenue volatility and historical cash flow instability, which suggests a need for consistent operational performance to sustain long-term growth.

Income Statement

The company has shown a recovery in net income and profitability in the latest year, turning from a net loss to a net profit, which is a strong positive. The gross profit margin is healthy at approximately 100% for the latest year, indicating cost control improvements. However, revenue has decreased significantly year-over-year, and there is a high volatility in revenue and profit margins which raises concerns about the consistency of operations.

Balance Sheet

The balance sheet shows a strong equity position, with a low debt-to-equity ratio of approximately 0.05 in the latest year, indicating low leverage and strong financial stability. The equity ratio is healthy, indicating a strong asset base funded by equity rather than debt. However, the company has experienced fluctuations in stockholder's equity over the years.

Cash Flow

The cash flow situation shows improvement with positive free cash flow in the latest year, a significant improvement from previous years. The operating cash flow to net income ratio indicates some level of cash generation relative to profits. However, the historical trend of negative operating cash flows and inconsistent free cash flow generation raises concerns about cash flow stability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2023	Dec 2023	Dec 2023
Income Statement
Total Revenue	45.09M	46.86M	36.51M	36.51M	36.51M	36.51M
Gross Profit	19.86M	20.97M	15.97M	15.97M	15.97M	15.97M
EBITDA	6.08M	8.00M	2.03M	2.03M	2.03M	2.03M
Net Income	3.15M	5.07M	-2.07M	-2.07M	-2.07M	-2.07M
Balance Sheet
Total Assets	36.23M	36.72M	33.49M	33.49M	33.49M	33.49M
Cash, Cash Equivalents and Short-Term Investments	9.17M	5.34M	5.29M	5.29M	5.29M	5.29M
Total Debt	1.22M	1.32M	1.32M	1.32M	1.32M	1.32M
Total Liabilities	9.59M	9.39M	10.85M	10.85M	10.85M	10.85M
Stockholders Equity	26.63M	27.33M	22.64M	22.64M	22.64M	22.64M
Cash Flow
Free Cash Flow	8.86M	214.00K	-5.26M	-5.26M	-5.26M	-5.26M
Operating Cash Flow	9.47M	651.00K	-4.97M	-4.97M	-4.97M	-4.97M
Investing Cash Flow	-608.00K	20.00K	11.02M	11.02M	11.02M	11.02M
Financing Cash Flow	-619.00K	-619.00K	-1.53M	-1.53M	-1.53M	-1.53M

MIND Technology Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 10.12
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• 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 10.12 is below the 20-day moving average (MA) of 10.18, above the 50-day MA of 9.03, and above the 200-day MA of 7.25, indicating a neutral trend. The MACD of 0.41 indicates Positive momentum. The RSI at 53.41 is Neutral, neither overbought nor oversold. The STOCH value of 22.31 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
ELTK	72 Outperform	$69.02M	22.46	7.51%	1.85%	6.75%	-52.37%
CPSH	68 Neutral	$50.11M	―	-11.74%	―	7.47%	-133.39%
MIND	67 Neutral	$80.65M	51.48	12.53%	―	22.59%	―
LGL	64 Neutral	$35.01M	162.25	0.56%	―	26.84%	-45.92%
Sector *	61 Neutral	$35.45B	7.89	-10.11%	1.88%	8.47%	-9.45%
NSYS	51 Neutral	$26.19M	6.41	-9.26%	―	-14.49%	-149.37%
OPTX	47 Neutral	$58.70M	38.65	-2.17%	―	―	―

MIND Technology Corporate Events

MIND Technology Holds 2025 Virtual Annual Meeting

On July 17, 2025, MIND Technology, Inc. held its 2025 Virtual Annual Meeting of Stockholders, where several key proposals were voted on. Stockholders re-elected five board members, approved an amendment to increase shares in the Stock Awards Plan by 400,000, approved executive compensation, and ratified Moss Adams LLP as the independent registered public accounting firm for the fiscal year ending January 31, 2026. These decisions reflect the company’s strategic focus on governance and financial management.

MIND Technology Reports Q1 2025 Financial Results

On June 10, 2025, MIND Technology announced its financial results for the fiscal quarter ended April 30, 2025, revealing a revenue of $7.9 million, a significant drop from the previous quarter’s $15 million. The company reported an operating loss of $658,000 and a net loss of $970,000, attributing the decline to delayed shipments of $5.5 million worth of orders. Despite these setbacks, MIND’s cash flow from operations increased to $4.1 million, indicating improved liquidity. The backlog for Marine Technology Products was $21.1 million, and the company remains optimistic about future opportunities despite global economic uncertainties.