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Mind Technology Inc (MIND)
:MIND
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MIND Technology
(NASDAQ:MIND)
Rating:68Neutral
Price Target:
$9.50
▲(13.64%Upside)
MIND Technology (MIND) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$66.62M
Dividend YieldN/A
Average Volume (3M)369.11K
Price to Earnings (P/E)42.5
Beta (1Y)1.28
Revenue Growth22.59%
EPS GrowthN/A
CountryUS
Employees146
SectorTechnology
Sector Strength86
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-0.12
Shares Outstanding7,969,421
10 Day Avg. Volume729,306
30 Day Avg. Volume369,112
Financial Highlights & Ratios
PEG Ratio-2.98
Price to Book (P/B)2.58
Price to Sales (P/S)0.00
P/FCF Ratio7.74
Enterprise Value/Market Cap0.91
Enterprise Value/Revenue0.35
Enterprise Value/Gross Profit3.06
Enterprise Value/Ebitda2.36
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. operates in the marine technology sector, focusing on the design and sale of products for the marine exploration, defense, and oceanographic research industries. The company offers an array of technology-driven solutions, including sonar and seismic equipment, which are used for various applications such as geophysical surveys, oil and gas exploration, and environmental assessments.
How the Company Makes MoneyMIND Technology generates revenue through the sale and leasing of its advanced marine technology products. The company's key revenue streams include the direct sale of sonar and seismic equipment to marine exploration firms, defense agencies, and oceanographic research institutions. Additionally, MIND Technology benefits from leasing agreements and service contracts for maintenance and support of its equipment. The company may also engage in strategic partnerships with other technology firms and research organizations to expand its market reach and enhance its product offerings, contributing to its earnings.
MIND Technology Earnings Call Summary
Earnings Call Date:Jun 10, 2025
(Q1-2026)
| % Change Since: 23.85%|
Next Earnings Date:Sep 10, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted a strong backlog, increased cash flow, and a growing aftermarket business, showcasing resilience and future potential. However, the company faced challenges with a decline in revenue, order delivery delays, and operating losses, impacting current financial performance. Despite these challenges, the company's strong backlog, improved liquidity, and strategic initiatives position it for future growth.Q1-2026 Updates
Positive Updates
Strong Backlog and Pipeline
Backlog of firm orders as of April 30, 2025, was approximately $21 million, up from $16.2 million on January 31, 2025, indicating strong demand and future revenue potential.
Increased Cash Flow from Operations
Cash flow from operations grew to about $4.1 million during the quarter, marking an improvement of approximately 98% sequentially, indicating improved liquidity and financial stability.
Aftermarket Business Growth
Aftermarket activity represented approximately 71% of revenues in the first quarter, up from the historical average of 40%, showcasing resilience and increased revenue opportunities.
Facility Expansion in Huntsville
Expansion of the facility in Huntsville, Texas, is nearing completion, expected to contribute to increased repair and manufacturing services and become a meaningful part of the revenue stream.
Debt-Free Balance Sheet
The company maintains a clean, debt-free balance sheet with a simplified capital structure, enhancing financial flexibility and stockholder value.
Negative Updates
Revenue Decline
Marine technology product revenues for the first quarter were $7.9 million, down approximately 18% from the same period a year ago.
Order Delivery Delays
Several customers were unable to take delivery of approximately $5.5 million of orders due to third-party component delays and shipping difficulties, impacting revenue for the quarter.
Operating Loss
The company reported an operating loss of approximately $658,000 compared to an operating income of $730,000 in the same quarter a year ago.
Net Loss
Net loss for the first quarter was approximately $970,000, compared to net income of $954,000 in the same quarter a year ago.
Company Guidance
During the MIND Technology Fiscal 2026 First Quarter Earnings Conference Call, CEO Rob Capps provided guidance indicating a positive outlook for the remainder of the fiscal year, despite a challenging first quarter where revenues dropped to $7.9 million due to a $5.5 million order delivery delay. The company expects to deliver these orders in the second quarter, which should lead to improved future results, supported by a strong backlog of $21 million as of April 30, 2025, and an active pipeline of prospects exceeding current backlog levels. Capps highlighted a 71% contribution from aftermarket activities to first-quarter revenues, up from a historical average of 40%, and emphasized efforts to optimize the supply chain and expand repair and manufacturing services at their Huntsville, Texas facility. MIND Technology also reported a net loss of $970,000 for the quarter, with cash flow from operations increasing to $4.1 million, indicating improved liquidity and a stronger balance sheet. The company remains focused on enhancing profitability by capitalizing on macroeconomic tailwinds and customer engagement, with a strategic emphasis on expanding product offerings and exploring new market opportunities.MIND Technology Financial Statement Overview
Summary
MIND Technology has demonstrated a significant turnaround with a return to profitability and improved cash flows. The balance sheet is strong with low leverage, but challenges remain with revenue volatility and historical cash flow instability.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.65
Positive
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.72
Positive
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.58
Neutral
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 45.09M | 46.86M | 36.51M | 25.01M | 23.11M | 21.21M |
| Gross Profit | 19.86M | 20.97M | 15.97M | 12.97M | 6.02M | 7.31M |
| EBITDA | 6.08M | 8.00M | 2.03M | -4.05M | -12.33M | -10.67M |
| Net Income | 3.15M | 5.07M | -2.07M | -7.43M | -13.58M | -18.45M |
Balance Sheet | ||||||
| Total Assets | 36.23M | 36.72M | 33.49M | 32.86M | 42.02M | 39.76M |
| Cash, Cash Equivalents and Short-Term Investments | 9.17M | 5.34M | 5.29M | 778.00K | 5.11M | 4.61M |
| Total Debt | 1.22M | 1.32M | 1.32M | 1.75M | 1.83M | 2.32M |
| Total Liabilities | 9.59M | 9.39M | 10.85M | 9.81M | 11.76M | 9.35M |
| Stockholders Equity | 26.63M | 27.33M | 22.64M | 23.05M | 30.26M | 30.42M |
Cash Flow | ||||||
| Free Cash Flow | 8.86M | 214.00K | -5.26M | -3.49M | -17.97M | -6.93M |
| Operating Cash Flow | 9.47M | 651.00K | -4.97M | -2.90M | -17.13M | -6.36M |
| Investing Cash Flow | -608.00K | 20.00K | 11.02M | 470.00K | 5.36M | 3.21M |
| Financing Cash Flow | -619.00K | -619.00K | -1.53M | -1.90M | 12.19M | 4.51M |
MIND Technology Technical Analysis
Positive
8.36
Price Trends
6.82
Positive
6.97
Positive
6.14
Positive
Market Momentum
0.59
Negative
63.82
Neutral
74.38
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 8.36 is above the 20-day moving average (MA) of 7.26, above the 50-day MA of 6.82, and above the 200-day MA of 6.14, indicating a bullish trend. The MACD of 0.59 indicates Negative momentum. The RSI at 63.82 is Neutral, neither overbought nor oversold. The STOCH value of 74.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $69.15M | 19.96 | 8.80% | 1.84% | 1.05% | -51.90% | |
68 Neutral | $66.62M | 42.52 | 12.53% | ― | 22.59% | ― | |
66 Neutral | $39.66M | ― | -18.07% | ― | -13.83% | -476.23% | |
64 Neutral | $38.53M | 95.97 | 1.04% | ― | 28.82% | 60.24% | |
63 Neutral | $33.61B | 6.06 | -11.53% | 1.82% | 5.53% | -18.79% | |
47 Neutral | $50.26M | ― | -2.17% | ― | ― | ― | |
45 Neutral | $25.35M | 6.41 | -9.81% | ― | -12.87% | -148.14% |
* Technology Sector Average
Performance Comparison
MIND
MIND Technology
8.36
4.08
95.33%
ELTK
Eltek
10.38
1.09
11.73%
LGL
LGL Group
7.15
1.65
30.00%
NSYS
Nortech Systems
9.49
-3.71
-28.11%
CPSH
CPS Technologies
2.91
1.20
70.18%
OPTX
Syntec Optics Holdings
1.39
-0.77
-35.65%
MIND Technology Corporate Events
Business Operations and StrategyFinancial Disclosures
MIND Technology Reports Q1 2025 Financial Results
Negative
Jun 10, 2025
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.
The most recent analyst rating on (MIND) stock is a Buy with a $6.00 price target. To see the full list of analyst forecasts on MIND Technology stock, see the MIND Stock Forecast page.
Shareholder Meetings
MIND Technology Sets Deadlines for Stockholder Proposals
Neutral
May 16, 2025
MIND Technology, Inc. announced that its 2025 Annual Meeting of Stockholders will be held virtually on July 17, 2025. The company has set deadlines for stockholder proposals and board nominations, requiring submissions by May 26, 2025, to be considered for inclusion in the proxy materials.
The most recent analyst rating on (MIND) stock is a Buy with a $6.00 price target. To see the full list of analyst forecasts on MIND Technology stock, see the MIND Stock Forecast page.
Private Placements and FinancingBusiness Operations and StrategyFinancial Disclosures
MIND Technology Reports Strong Q4 Financial Results
Positive
Apr 22, 2025
On April 22, 2025, MIND Technology reported its financial results for the fiscal quarter and year ended January 31, 2025. The company saw a rise in revenues from continuing operations, with $15.0 million in the fourth quarter compared to $12.1 million in the previous quarter. Operating income also increased to $2.8 million from $1.9 million in the third quarter. The net income for the fourth quarter was $2.0 million, and the adjusted EBITDA was $3.0 million. Despite a decrease in the backlog of Marine Technology Products, the company secured firm orders worth $15.9 million after January 31, 2025. MIND Technology’s President and CEO, Rob Capps, expressed satisfaction with the company’s solid financial position and profitability trend, highlighting plans for growth through organic opportunities, acquisitions, or potential sale. The company intends to file a shelf registration statement to prepare for future capital needs.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.