Mind Technology Inc (MIND)
NASDAQ:MIND
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MIND Technology
(NASDAQ:MIND)
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Rating:66Neutral
Price Target:
$8.50
▼(-4.28% Downside)
Action:ReiteratedDate:01/13/26
The score is led by improved fundamentals and a conservatively levered balance sheet, indicating reduced financial risk after a multi-year turnaround. However, weakening top-line momentum, margin/FCF softness versus FY2025, and bearish-to-neutral technical signals temper the outlook, while valuation is only moderate with no dividend support.
Positive Factors
Conservative balance sheet
Extremely low leverage and rising equity reduce financial risk and preserve flexibility for capital allocation. This conservatism supports R&D, production timing and tender competitiveness, enabling the company to withstand cyclic downturns and pursue opportunistic investments over months.
Negative Factors
Top-line momentum weakening
Declining trailing revenues signal soft demand or lost share in key end markets. For an order-driven marine-equipment business, lower top line reduces operating leverage, constrains reinvestment capacity, and elevates execution risk over the coming 2–6 months if order cadence does not recover.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Extremely low leverage and rising equity reduce financial risk and preserve flexibility for capital allocation. This conservatism supports R&D, production timing and tender competitiveness, enabling the company to withstand cyclic downturns and pursue opportunistic investments over months.
Read all positive factors
MIND Technology (MIND) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$80.53M
Dividend YieldN/A
Average Volume (3M)157.84K
Price to Earnings (P/E)354.3
Beta (1Y)1.33
Revenue Growth2.21%
EPS Growth-15.60%
CountryUS
Employees146
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)0.04
Shares Outstanding9,038,082
10 Day Avg. Volume141,602
30 Day Avg. Volume157,845
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)2.70
Price to Sales (P/S)1.58
P/FCF Ratio345.20
Enterprise Value/Market Cap0.69
Enterprise Value/Revenue1.21
Enterprise Value/Gross Profit2.71
Enterprise Value/Ebitda8.89
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 sy...
How the Company Makes Money
MIND Technology generates revenue primarily through the sale of its advanced sonar systems and related services. The company has a diversified revenue model that includes direct sales of hardware and software, subscription-based services for ongoi...
MIND Technology Key Performance Indicators (KPIs)
Any
Gross Profit by Segment
Data provided by:
The Fly
The FlyMIND Technology Earnings Call Summary
Earnings Call Date:Sep 09, 2025
(Q2-2026)
| % Change Since: |
Next Earnings Date:Apr 15, 2026
Earnings Call Sentiment Neutral
The earnings call reflected positive financial results with significant revenue growth, increased profitability, and strong aftermarket contributions. However, there are concerns about decreased backlog and cautious customer behavior due to market uncertainties.Positive Updates
Significant Revenue Growth
Marine Technology product revenues for the second quarter were $13.6 million, up approximately 35% from the same period a year ago.
Negative Updates
Backlog Decline
Backlog of firm orders decreased to $12.8 million as of July 31, 2025, from $21.1 million as of April 30, 2025, and $26 million as of July 31, 2024.
Read all updates
Q2-2026 Updates
Positive
Negative
Significant Revenue Growth
Marine Technology product revenues for the second quarter were $13.6 million, up approximately 35% from the same period a year ago.
Read all positive updates
Company Guidance
During MIND Technology's second quarter 2026 earnings call, the company reported Marine Technology product revenues of $13.6 million, marking a 35% increase from the same period last year. The gross profit for the quarter was $6.8 million, resulting in a 50% gross profit margin. Operating income rose by 86% to $2.7 million compared to the same quarter last year, while net income was $1.9 million, up from $798,000. The backlog of firm orders stood at $12.8 million as of July 31, 2025, down from $21.1 million on April 30, 2025. Aftermarket revenue accounted for approximately 68% of total revenue, contributing significantly to the company's financial performance. The company maintained a debt-free balance sheet with $7.8 million in cash, aiming for continued profitability and favorable financial results for the remainder of the fiscal year.MIND Technology Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
86
Very Positive
Cash Flow
68
Positive
| Breakdown | TTM | Jan 2024 | Jan 2023 | Jan 2022 | Jan 2021 | Jan 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 46.20M | 46.86M | 36.51M | 25.01M | 23.11M | 21.21M |
| Gross Profit | 20.57M | 20.97M | 14.79M | 8.61M | 6.02M | 7.31M |
| EBITDA | 6.28M | 8.00M | 2.03M | -4.05M | -12.33M | -9.00M |
| Net Income | 3.05M | 5.07M | -2.07M | -8.83M | -15.09M | -18.45M |
Balance Sheet | ||||||
| Total Assets | 47.34M | 36.72M | 33.49M | 32.86M | 42.02M | 39.76M |
| Cash, Cash Equivalents and Short-Term Investments | 19.39M | 5.34M | 5.29M | 778.00K | 5.11M | 4.61M |
| Total Debt | 1.27M | 1.32M | 1.32M | 1.75M | 1.83M | 2.32M |
| Total Liabilities | 7.40M | 9.39M | 10.85M | 9.81M | 11.76M | 9.35M |
| Stockholders Equity | 39.94M | 27.33M | 22.64M | 23.05M | 30.26M | 30.42M |
Cash Flow | ||||||
| Free Cash Flow | 5.13M | 214.00K | -5.26M | -3.49M | -17.97M | -6.93M |
| Operating Cash Flow | 5.86M | 651.00K | -4.97M | -2.90M | -17.13M | -6.36M |
| Investing Cash Flow | -736.00K | 20.00K | 11.02M | 470.00K | 5.36M | 3.21M |
| Financing Cash Flow | 10.75M | -619.00K | -1.53M | -1.90M | 12.19M | 4.51M |
MIND Technology Technical Analysis
Positive
8.88
Price Trends
8.41
Positive
9.07
Negative
9.20
Negative
Market Momentum
0.07
Negative
54.98
Neutral
59.32
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 8.88 is above the 20-day moving average (MA) of 8.46, above the 50-day MA of 8.41, and below the 200-day MA of 9.20, indicating a neutral trend. The MACD of 0.07 indicates Negative momentum. The RSI at 54.98 is Neutral, neither overbought nor oversold. The STOCH value of 59.32 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $80.53M | 354.27 | 9.95% | ― | 2.21% | -15.60% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | $119.42M | -3.08 | -53.09% | ― | -15.76% | -25.27% | |
57 Neutral | $62.37M | 42.86 | 8.53% | ― | -0.21% | -0.41% | |
54 Neutral | $54.67M | 70.33 | 1.85% | 2.16% | 2.54% | -79.99% | |
52 Neutral | $84.20M | 110.94 | 2.42% | ― | 38.22% | 70.68% | |
48 Neutral | $337.02M | -58.88 | -17.19% | ― | -44.83% | -296.14% |
* Technology Sector Average
MIND
MIND Technology
8.91
4.27
92.03%
ELTK
Eltek
8.14
0.63
8.47%
CPSH
CPS Technologies
4.68
3.17
209.93%
ODYS
Odysightai
7.30
1.44
24.57%
SOTK
Sono-Tek
3.97
0.38
10.58%
OPTX
Syntec Optics Holdings
9.11
8.07
775.96%
MIND Technology Corporate Events
Financial Disclosures
MIND Technology Reports Q3 2025 Financial Results
Neutral
Dec 9, 2025
On December 9, 2025, MIND Technology, Inc. announced its financial results for the fiscal third quarter ending October 31, 2025. The company reported revenues of $9.7 million, a decrease from the previous quarter and the same quarter last year. De...
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.