MIND Technology (MIND) AI Stock Analysis

• Market Cap: $104.80M
• Dividend Yield: N/A
• Average Volume (3M): 280.15K
• Price to Earnings (P/E): 22.9
• Beta (1Y): 1.22
• Revenue Growth: 27.70%
• EPS Growth: N/A
• Country: US
• Employees: 146
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 0.28
• Shares Outstanding: 7,969,421
• 10 Day Avg. Volume: 387,202
• 30 Day Avg. Volume: 280,148
• PEG Ratio: -0.05
• Price to Book (P/B): 2.70
• Price to Sales (P/S): 1.58
• P/FCF Ratio: 345.20
• Enterprise Value/Market Cap: 0.65
• Enterprise Value/Revenue: 1.41
• Enterprise Value/Gross Profit: 3.15
• Enterprise Value/Ebitda: 9.49
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: $14.50 ▲(37.70% Upside)

MIND Technology's overall stock score is driven by strong technical momentum and a significant financial turnaround. The company's low leverage and improved profitability are positive, but revenue volatility and cash flow instability remain concerns. The stock's valuation is fair, though the lack of a dividend yield may limit its appeal to some investors. The earnings call highlighted growth and profitability, but market uncertainties and a declining backlog 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	48.61M	46.86M	36.51M	36.51M	36.51M	36.51M
Gross Profit	21.69M	20.97M	15.97M	15.97M	15.97M	15.97M
EBITDA	7.20M	8.00M	2.03M	2.03M	2.03M	2.03M
Net Income	4.28M	5.07M	-2.07M	-2.07M	-2.07M	-2.07M
Balance Sheet
Total Assets	35.83M	36.72M	33.49M	33.49M	33.49M	33.49M
Cash, Cash Equivalents and Short-Term Investments	7.83M	5.34M	5.29M	5.29M	5.29M	5.29M
Total Debt	841.00K	1.32M	1.32M	1.32M	1.32M	1.32M
Total Liabilities	6.99M	9.39M	10.85M	10.85M	10.85M	10.85M
Stockholders Equity	28.84M	27.33M	22.64M	22.64M	22.64M	22.64M
Cash Flow
Free Cash Flow	6.54M	214.00K	-5.26M	-5.26M	-5.26M	-5.26M
Operating Cash Flow	7.25M	651.00K	-4.97M	-4.97M	-4.97M	-4.97M
Investing Cash Flow	-710.00K	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: 10.53
• 50DMA: Positive
• 100DMA: Positive
• 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 10.53 is below the 20-day moving average (MA) of 10.82, above the 50-day MA of 9.64, and above the 200-day MA of 8.17, indicating a bullish trend. The MACD of 0.75 indicates Negative momentum. The RSI at 62.49 is Neutral, neither overbought nor oversold. The STOCH value of 75.72 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	70 Outperform	$104.80M	22.88	16.05%	―	27.70%	―
ELTK	70 Outperform	$75.87M	24.68	7.51%	1.69%	6.75%	-52.37%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
CPSH	60 Neutral	$63.29M	-86.70	-3.84%	―	38.22%	70.68%
SOTK	56 Neutral	$72.41M	48.07	8.45%	―	-0.21%	-0.41%
OPTX	53 Neutral	$88.61M	-55.94	-13.59%	―	-32.52%	-218.84%
ODYS	45 Neutral	$46.22M	-2.67	-64.15%	―	46.70%	-19.78%

MIND Technology Corporate Events

Mind Technology Inc. Reports Strong Earnings Amid Challenges

The recent earnings call for Mind Technology Inc. painted a picture of financial success tempered by caution. The company reported impressive revenue growth and profitability, driven by strong aftermarket contributions. However, concerns were raised about a decreased backlog and cautious customer behavior amidst market uncertainties.

MIND Technology Reports Strong Q2 Fiscal 2026 Results

MIND Technology, Inc. is a global provider of high-performance marine exploration and survey equipment, serving industries such as oceanographic, hydrographic, defense, seismic, and security. Headquartered in The Woodlands, Texas, the company operates key locations in the United States, Singapore, Malaysia, and the United Kingdom.

MIND Technology Reports Strong Q2 Financial Results

On September 9, 2025, MIND Technology announced its financial results for the fiscal second quarter ending July 31, 2025. The company reported revenues of $13.6 million, a significant increase from $7.9 million in the previous quarter and $10.0 million in the same quarter of the previous year. Operating income was $2.7 million, and net income was $1.9 million, marking a turnaround from a net loss in the first quarter of fiscal 2026. The backlog of Marine Technology Products related to the Seamap segment decreased to $12.8 million from $21.1 million at the end of the previous quarter. Despite economic uncertainties, the company remains optimistic about future prospects, highlighting strong customer interest in its Seamap product lines and a robust pipeline of orders.

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

MIND Technology Enters Equity Distribution Agreement

On August 28, 2025, MIND Technology, Inc. entered into an equity distribution agreement with Lucid Capital Markets LLC, allowing the company to sell up to $25 million of common stock under an ‘at-the-market’ program. The proceeds are intended for general corporate purposes, including potential acquisitions and capital expenditures. Additionally, the company’s board authorized a share repurchase program for up to $4 million of its common stock through August 31, 2027. These strategic moves aim to enhance stockholder value by providing flexibility to raise capital or invest in its own stock, depending on market conditions.

The most recent analyst rating on (MIND) stock is a Hold with a $11.50 price target. To see the full list of analyst forecasts on MIND Technology stock, see the MIND Stock Forecast page.