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Financials · MIND

MIND Technology Inc. (MIND) financials

For the twelve months ended Jul 31, 2026, MIND Technology Inc. reported $34.78M of revenue and -$2.35M of net income.

Revenue, TTM
$34.78M
Revenue growth, YoY
-28.5%
Net income, TTM
-$2.35M
Net margin
-6.8%
Free cash flow, TTM
-$3.86M
Cash
$15.76M
P/S
0.85
Market cap
$29.5M
Annual revenue$40.95M
FY2017FY2026
Annual net income$750.0K
FY2017FY2026
Annual free cash flow$1.92M
FY2017FY2026

MIND revenue and earnings growth

MIND revenueQ2 2027$5.62M

Quarter YoY
-58.5%
QoQ
-41.9%
FY YoY
-12.6%
5Y CAGR
+14.1%
10Y CAGR
-2.3%

MIND revenue was $5.62M in fiscal Q2 2027 (ended Jul 31, 2026), down 58.5% from a year earlier and down 41.9% from the prior quarter. For the full fiscal 2026 it was $40.95M, down 12.6% from fiscal 2025. Compound annual growth was +14.1% over 5 years and -2.3% over 10 years. It rose in 5 of the last 10 fiscal years.

MIND net incomeQ2 2027-$1.73M

FY YoY
-85.2%

MIND net income was -$1.73M in fiscal Q2 2027 (ended Jul 31, 2026), compared with $1.93M a year earlier. For the full fiscal 2026 it was $750.0K, down 85.2% from fiscal 2025.

MIND free cash flowQ2 2027-$1.90M

FY YoY
+798.6%
10Y CAGR
-18.4%

MIND free cash flow was -$1.90M in fiscal Q2 2027 (ended Jul 31, 2026), compared with -$1.34M a year earlier. For the full fiscal 2026 it was $1.92M, up 798.6% from fiscal 2025. Compound annual growth was -18.4% over 10 years.

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Income statement

Income statement
Line item
FY2026
Jan 31, 2026
FY2025
Jan 31, 2025
FY2024
Jan 31, 2024
FY2023
Jan 31, 2023
FY2022
Jan 31, 2022
FY2021
Jan 31, 2021
FY2020
Jan 31, 2020
FY2019
Jan 31, 2019
FY2018
Jan 31, 2018
FY2017
Jan 31, 2017
Revenue$40.95M$46.86M$36.51M$25.01M$23.11M$21.21M$29.92M$42.94M$48.28M$41.00M
Cost of revenue------$26.05M$31.20M$42.19M$48.41M
Gross profit$18.66M$20.97M$15.97M$9.95M$6.02M$7.31M$12.95M$11.74M$6.08M-$7.41M
Research and development$1.59M$1.91M$2.13M$1.37M$3.60M$3.00M$1.85M$1.16M$1.50M$974.0K
Selling, general and admin$13.35M$11.29M$12.14M$12.88M$14.76M$12.65M$14.14M$20.91M$19.66M$19.75M
Operating income$2.86M$6.82M$518.0K-$5.65M-$14.54M-$14.33M-$6.29M-$13.02M-$19.71M-$31.29M
Interest expense---------$653.0K
Pre-tax income$2.90M$7.06M$238.0K-$5.39M-$13.62M-$13.47M-$6.19M-$19.59M-$20.16M-$31.34M
Income tax$2.15M$1.98M$1.34M$699.0K-$39.0K$536.0K$353.0K$252.0K$910.0K$1.81M
Net income$750.0K$5.07M$274.0K-$8.83M-$15.09M-$20.31M-$11.29M-$19.84M-$21.07M-$33.15M
EPS, basic$0.09$4.32-$2.50-$8.98-$1.31-$1.80-$1.10-$1.78-$1.82-$2.79
EPS, diluted----$0.92-$1.31-$1.80-$1.10-$1.78-$1.82-$2.79
Diluted shares8.3M4.1M1,4061.4M13.8M12.5M12.1M12.1M12.1M12.1M

Balance sheet

Balance sheet
Line item
FY2026
Jan 31, 2026
FY2025
Jan 31, 2025
FY2024
Jan 31, 2024
FY2023
Jan 31, 2023
FY2022
Jan 31, 2022
FY2021
Jan 31, 2021
FY2020
Jan 31, 2020
FY2019
Jan 31, 2019
FY2018
Jan 31, 2018
FY2017
Jan 31, 2017
Cash and equivalents$19.05M$5.34M$5.29M$778.0K$5.11M$4.61M$3.23M$9.55M$10.15M$3.51M
Receivables$12.57M$11.82M$6.60M$3.20M$8.13M$4.75M$6.62M---
Inventory$11.15M$13.74M$13.37M$11.03M$14.01M$11.45M$12.66M$10.77M$10.86M$11.96M
Current assets$44.88M$32.12M$28.34M$22.23M$29.25M$26.79M$39.41M$36.34M$33.05M$35.06M
Goodwill----$0$0$2.53M$2.53M$2.53M$4.00M
Total assets$49.27M$36.72M$33.49M$32.86M$42.02M$39.76M$58.23M$65.30M$73.68M$94.71M
Current liabilities$7.44M$8.64M$10.28M$8.93M$10.70M$7.84M$8.45M$7.43M$7.52M$13.46M
Short-term debt--------$0$6.37M
Long-term debt--------$0$0
Total debt--------$0$6.37M
Total liabilities$7.85M$9.39M$10.85M$9.81M$11.76M$9.35M$10.58M$8.62M$7.83M$13.78M
Shareholders' equity$41.42M$27.33M$22.64M$23.05M$30.26M$30.42M$47.65M$56.68M$65.85M$80.93M

Cash flow

Cash flow
Line item
FY2026
Jan 31, 2026
FY2025
Jan 31, 2025
FY2024
Jan 31, 2024
FY2023
Jan 31, 2023
FY2022
Jan 31, 2022
FY2021
Jan 31, 2021
FY2020
Jan 31, 2020
FY2019
Jan 31, 2019
FY2018
Jan 31, 2018
FY2017
Jan 31, 2017
Operating cash flow$2.59M$651.0K-$4.97M-$2.90M-$17.13M-$6.36M-$5.82M-$5.46M$719.0K$3.15M
Capital expenditures$663.0K$437.0K$290.0K$570.0K$834.0K$90.0K$1.04M$814.0K$407.0K$283.0K
Free cash flow$1.92M$214.0K-$5.26M-$3.48M-$17.97M-$6.45M-$6.85M-$6.27M$312.0K$2.87M
Investing cash flow-$663.0K$20.0K$11.02M$470.0K$5.36M$3.21M-$2.09M-$15.0K$9.00M$4.41M
Financing cash flow$11.79M-$619.0K-$1.53M-$1.90M$12.19M$4.51M$1.75M$5.14M-$3.04M-$7.31M
Share repurchases--$0$1.0K$2.0K$0-$0$0$4.0K
Stock-based compensation$1.55M$235.0K$261.0K$654.0K$643.0K$708.0K$854.0K$781.0K$903.0K$737.0K
Depreciation and amortization$873.0K$944.0K$1.18M$1.34M$2.21M$2.80M$2.49M$2.50M$2.15M$2.40M

Key ratios

Key ratios
Line item
FY2026
Jan 31, 2026
FY2025
Jan 31, 2025
FY2024
Jan 31, 2024
FY2023
Jan 31, 2023
FY2022
Jan 31, 2022
FY2021
Jan 31, 2021
FY2020
Jan 31, 2020
FY2019
Jan 31, 2019
FY2018
Jan 31, 2018
FY2017
Jan 31, 2017
Revenue growth, YoY-12.6%28.4%46.0%8.2%8.9%-29.1%-30.3%-11.0%17.7%-20.9%
Net income growth, YoY-85.2%1751.8%--------
Gross margin45.6%44.7%43.7%39.8%26.1%34.5%43.3%27.3%12.6%-18.1%
Operating margin7.0%14.5%1.4%-22.6%-62.9%-67.5%-21.0%-30.3%-40.8%-76.3%
Net margin1.8%10.8%0.8%-35.3%-65.3%-95.7%-37.7%-46.2%-43.6%-80.9%
Free cash flow margin4.7%0.5%-14.4%-13.9%-77.8%-30.4%-22.9%-14.6%0.6%7.0%
Return on equity1.8%18.6%1.2%-38.3%-49.8%-66.8%-23.7%-35.0%-32.0%-41.0%
Return on assets1.5%13.8%0.8%-26.9%-35.9%-51.1%-19.4%-30.4%-28.6%-35.0%
Current ratio6.033.712.762.492.733.424.674.894.392.60
Debt to equity--------0.000.08

Source: XBRL data MIND Technology Inc. files with the SEC, latest filing dated Sep 9, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

MIND peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
MIND$34.78M-28.5%-$2.35M-6.8%$29.5M
ASML€32.67B+15.6%€9.61B29.4%$583.23B
LRCX$26.13B+33.4%$8.45B32.3%$276.45B
TMO$47.35B+8.3%$7.07B14.9%$267.38B
DE$47.98B+8.0%$4.87B10.2%$186.39B
DHR$25.61B+5.5%$4.33B16.9%$165.41B
ETN$31.98B+20.1%$3.90B12.2%$139.59B
JCI$24.43B+5.1%$3.53B14.5%$85.71B
ITW$16.65B+4.8%$3.23B19.4%$81.49B

MIND FAQ

8 questions
  • What is MIND revenue?
    MIND Technology Inc. (MIND) reported $34.78M of revenue for the twelve months ended Jul 31, 2026. That is down 28.5% from the year before. Revenue for fiscal 2026 was $40.95M.
  • Is MIND profitable?
    No. MIND Technology Inc. reported a net loss of $2.35M for the twelve months ended Jul 31, 2026.
  • How much cash and debt does MIND have?
    MIND Technology Inc. reported $15.76M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is MIND revenue growing?
    MIND Technology Inc.'s revenue changed -12.6% in fiscal 2026, to $40.95M. Its compound annual growth rate was +14.1% over 5 years and -2.3% over 10 years.
  • What is MIND gross margin?
    MIND Technology Inc.'s gross profit was $14.69M on $34.78M of revenue for the twelve months ended Jul 31, 2026, a gross margin of 42.2%.
  • What is MIND free cash flow?
    MIND Technology Inc. generated -$3.86M of free cash flow for the twelve months ended Jul 31, 2026, which is operating cash flow of -$3.46M less capital expenditures.
  • When did MIND last report financial results?
    The latest statements here come from MIND Technology Inc.'s 10-Q filed on Sep 9, 2026, covering the period ended Jul 31, 2026.
  • Where does this MIND financial data come from?
    Quantisnow builds these statements from the structured XBRL data MIND Technology Inc. files with the SEC. It is provided for information only and is not investment advice.