What is MIND Technology's operating income?

MIND Technology's total operating income in 2026 was $2.86 million, based on the following breakdown: Total Gross Profit: $18.66 million Total Operating Expenses: $15.81 million

MIND Technology (MIND) Financials

$5.18 -0.12 (-2.17%)

As of 03:31 PM Eastern

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Annual Income Statements for MIND Technology

This table shows MIND Technology's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	1/31/2016	1/31/2017	1/31/2018	1/31/2019	1/31/2020	1/31/2021	1/31/2022	1/31/2023	1/31/2024	1/31/2025	1/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-39	-34	-5.29	-6.69	-13	-23	-18	-13	-3.51	18	0.75
Consolidated Net Income / (Loss)	-39	-33	-4.38	-4.98	-11	-20	-15	-8.83	0.27	5.07	0.75
Net Income / (Loss) Continuing Operations	-39	-33	-4.38	-4.98	-6.54	-14	-14	-6.09	-1.10	5.07	0.75
Total Pre-Tax Income	-28	-31	-3.47	-4.73	-6.19	-13	-14	-5.39	0.24	7.06	2.90
Total Operating Income	-27	-31	-3.02	1.84	-6.29	-14	-15	-5.65	0.52	6.82	2.86
Total Gross Profit	2.67	-7.41	22	26	13	7.31	6.02	9.95	16	21	19
Total Revenue	52	41	48	43	30	21	23	25	37	47	41
Operating Revenue	52	41	48	43	30	21	23	25	37	47	41
Total Cost of Revenue	49	48	27	17	17	14	17	15	21	26	22
Operating Cost of Revenue	49	48	26	16	17	14	17	15	21	26	22
Total Operating Expenses	29	24	25	25	19	22	21	16	15	14	16
Selling, General & Admin Expense	18	20	20	21	14	13	15	13	12	11	13
Research & Development Expense	0.93	0.97	1.50	1.16	1.85	3.00	3.60	1.37	2.13	1.91	1.59
Depreciation Expense	2.51	2.40	2.15	2.50	2.49	2.80	2.21	1.34	1.18	0.94	0.87
Total Other Income / (Expense), net	-1.00	-0.05	-0.45	-6.57	0.10	0.86	0.93	0.26	-0.28	0.24	0.04
Other Income / (Expense), net	-0.27	0.59	-0.50	-6.64	0.10	0.86	0.93	0.26	-0.28	0.24	0.04
Income Tax Expense	11	1.81	0.91	0.25	0.35	0.54	-0.04	0.70	1.34	1.98	2.15
Preferred Stock Dividends Declared	0.00	0.49	0.91	1.71	2.05	2.25	2.90	3.79	3.79	-13	0.00
Basic Earnings per Share	($3.22)	($2.79)	($1.82)	($1.78)	($1.10)	($1.80)	($1.31)	($8.98)	($2.50)	$4.32	$0.09
Weighted Average Basic Shares Outstanding	12.04M	12.07M	12.08M	12.11M	12.14M	12.52M	13.77M	1.41M	1.41M	4.08M	8.26M
Weighted Average Diluted Shares Outstanding	12.04M	12.07M	12.08M	12.11M	12.14M	12.52M	13.77M	1.41M	1.41K	4.08M	8.33M
Weighted Average Basic & Diluted Shares Outstanding	12M	12.10M	12.10M	12.12M	12.18M	13.77M	13.77M	13.79M	1.41M	7.97M	9.09M

This table shows MIND Technology's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026	Q1 2027
Period end date	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025	4/30/2025	7/31/2025	10/31/2025	1/31/2026	4/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-0.38	0.49	0.01	-0.15	16	2.04	-0.97	1.93	0.06	-0.27	-0.41
Consolidated Net Income / (Loss)	0.57	1.44	0.95	0.80	1.29	2.03	-0.97	1.93	0.06	-0.27	-0.41
Net Income / (Loss) Continuing Operations	-1.71	1.49	0.95	0.80	1.29	2.03	-0.97	1.93	0.06	-0.27	-0.41
Total Pre-Tax Income	-1.60	2.24	1.20	1.47	1.69	2.70	-0.68	2.60	0.78	0.20	0.07
Total Operating Income	-1.45	2.32	0.73	1.43	1.88	2.78	-0.66	2.66	0.77	0.08	0.01
Total Gross Profit	2.25	6.24	4.22	4.78	5.42	6.55	3.33	6.83	4.51	3.99	4.10
Total Revenue	4.97	13	9.68	10	12	15	7.90	14	9.69	9.80	9.67
Operating Revenue	4.97	13	9.68	10	12	15	7.90	14	9.69	9.80	9.67
Total Cost of Revenue	2.72	7.14	5.46	5.26	6.68	8.49	4.57	6.73	5.18	5.81	5.58
Operating Cost of Revenue	2.72	7.14	5.46	5.26	6.68	8.49	4.57	6.73	5.18	5.81	5.58
Total Operating Expenses	3.71	3.92	3.49	3.35	3.55	3.77	3.99	4.17	3.74	3.91	4.08
Selling, General & Admin Expense	2.94	2.98	2.76	2.78	2.76	2.99	3.38	3.64	3.02	3.31	3.55
Research & Development Expense	0.51	0.65	0.46	0.33	0.56	0.56	0.38	0.31	0.51	0.39	0.31
Depreciation Expense	0.26	0.29	0.27	0.24	0.22	0.22	0.23	0.22	0.21	0.22	0.23
Total Other Income / (Expense), net	-0.14	-0.08	0.47	0.04	-0.19	-0.08	-0.02	-0.07	0.00	0.12	0.05
Other Income / (Expense), net	0.03	-0.62	0.47	0.04	-0.19	-0.08	-0.02	-0.07	0.00	0.12	0.05
Income Tax Expense	0.11	0.75	0.25	0.67	0.40	0.67	0.29	0.67	0.72	0.47	0.48
Basic Earnings per Share	($0.27)	$0.35	$0.00	($0.11)	$2.87	$0.50	($120.00)	$0.24	$0.01	($0.04)	($50.00)
Weighted Average Basic Shares Outstanding	1.41M	1.41M	1.41M	1.41M	5.47M	4.08M	7.97M	7.97M	8.05M	8.26M	9.09M
Weighted Average Diluted Shares Outstanding	1.41M	1.41K	1.41M	1.41M	7.97M	4.08M	7.97M	7.97M	9.04M	8.33M	9.09M
Weighted Average Basic & Diluted Shares Outstanding	1.41M	1.41M	1.41M	1.41M	7.97M	7.97M	7.97M	7.97M	9.04M	9.09M	9.09M

This table details how cash moves in and out of MIND Technology's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	1/31/2016	1/31/2017	1/31/2018	1/31/2019	1/31/2020	1/31/2021	1/31/2022	1/31/2023	1/31/2024	1/31/2025	1/31/2026
Net Change in Cash & Equivalents	-0.86	0.25	6.68	-0.33	-8.21	1.38	0.50	-4.34	4.51	0.05	14
Net Cash From Operating Activities	15	3.15	0.72	-5.46	-5.82	-6.36	-17	-2.91	-4.97	0.65	2.59
Net Cash From Continuing Operating Activities	15	3.15	0.72	-5.46	-7.87	-6.36	-17	-2.91	-4.97	0.65	2.59
Net Income / (Loss) Continuing Operations	-39	-33	-21	-20	-11	-20	-15	-8.83	0.27	5.07	0.75
Consolidated Net Income / (Loss)	-39	-33	-21	-20	-11	-20	-15	-8.83	0.27	5.07	0.75
Depreciation Expense	32	28	17	12	7.77	4.63	2.21	1.89	1.52	0.94	0.87
Non-Cash Adjustments To Reconcile Net Income	6.59	1.94	-0.65	2.39	-0.70	4.18	0.05	1.76	-2.19	-0.16	1.76
Changes in Operating Assets and Liabilities, net	15	6.09	5.80	0.18	-1.60	5.14	-4.31	2.28	-4.57	-5.21	-0.79
Net Cash From Investing Activities	-10	4.41	9.00	-0.02	-2.09	3.21	5.36	0.47	11	0.02	-0.66
Net Cash From Continuing Investing Activities	-10	4.41	9.00	-0.02	-2.09	3.21	5.36	0.47	11	0.02	-0.66
Purchase of Property, Plant & Equipment	-0.34	-0.28	-0.41	-3.81	-1.04	-0.09	-0.83	-0.58	-0.29	-0.44	-0.66
Sale of Property, Plant & Equipment	-	-	-	-	-	1.51	5.44	1.05	0.48	0.46	0.00
Net Cash From Financing Activities	-5.64	-7.31	-3.04	5.15	1.75	4.51	12	-1.90	-1.54	-0.62	12
Net Cash From Continuing Financing Activities	-5.64	-7.31	-3.04	5.15	1.75	4.51	12	-1.90	-1.54	-0.62	12
Repurchase of Common Equity	-0.00	-0.00	-	-	-	0.00	-0.00	-0.00	0.00	-0.62	0.00
Issuance of Common Equity	-	-	-	-	0.00	3.58	0.04	-	-	0.00	12
Other Net Changes in Cash	-	-	-	-	-	0.02	-	-	-	-0.01	0.01

This table details how cash moves in and out of MIND Technology's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026	Q1 2027
Period end date	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025	4/30/2025	7/31/2025	10/31/2025	1/31/2026	4/30/2026
Net Change in Cash & Equivalents	5.08	-0.28	-4.37	0.98	1.60	1.83	3.84	-1.34	12	-0.34	-1.39
Net Cash From Operating Activities	-2.15	0.66	-4.75	1.06	2.29	2.06	4.07	-1.16	0.89	-1.22	-1.35
Net Cash From Continuing Operating Activities	-2.15	0.66	-4.75	1.06	2.29	2.06	4.07	-1.16	0.89	-1.22	-1.35
Net Income / (Loss) Continuing Operations	0.57	1.44	0.95	0.80	1.29	2.03	-0.97	1.93	0.06	-0.27	-0.41
Consolidated Net Income / (Loss)	0.57	1.44	0.95	0.80	1.29	2.03	-0.97	1.93	0.06	-0.27	-0.41
Depreciation Expense	0.29	0.29	0.27	0.24	0.22	0.22	0.23	0.22	0.21	0.22	0.23
Non-Cash Adjustments To Reconcile Net Income	-2.29	0.25	-0.40	0.15	0.16	-0.08	0.30	0.19	0.37	0.90	0.54
Changes in Operating Assets and Liabilities, net	-0.71	-1.32	-5.58	-0.13	0.62	-0.12	4.51	-3.50	0.25	-2.06	-1.70
Net Cash From Investing Activities	11	-	0.39	-0.08	-0.07	-0.22	-0.24	-0.18	-0.09	-0.15	-0.05
Net Cash From Continuing Investing Activities	11	-	0.39	-0.08	-0.07	-0.22	-0.24	-0.18	-0.09	-0.15	-0.05
Purchase of Property, Plant & Equipment	-0.10	-0.09	-0.07	-0.08	-0.07	-0.22	-0.24	-0.18	-0.09	-0.15	-0.05
Net Cash From Financing Activities	-3.54	-0.95	0.00	-	-0.62	-	0.00	-	11	1.03	0.00
Net Cash From Continuing Financing Activities	-3.54	-0.95	0.00	-	-0.62	-	0.00	-	11	1.03	0.00
Other Net Changes in Cash	-0.03	-	-0.00	0.00	-0.00	-0.00	-	0.00	-	-	0.00
Cash Income Taxes Paid	0.19	-	0.43	0.51	0.47	-	0.08	0.97	0.85	-	0.41

This table presents MIND Technology's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	1/31/2016	1/31/2017	1/31/2018	1/31/2019	1/31/2020	1/31/2021	1/31/2022	1/31/2023	1/31/2024	1/31/2025	1/31/2026
Total Assets	135	95	74	65	58	40	42	33	33	37	49
Total Current Assets	43	35	33	36	39	27	29	22	28	32	45
Cash & Equivalents	3.77	2.90	9.90	9.39	3.09	4.61	5.11	0.78	5.29	5.34	19
Accounts Receivable	22	16	10	12	6.62	4.75	8.13	3.25	6.57	12	13
Inventories, net	13	12	11	11	13	11	14	11	13	14	11
Prepaid Expenses	1.69	2.19	1.55	1.74	1.99	1.66	1.84	1.40	3.11	1.22	2.11
Plant, Property, & Equipment, net	74	44	23	14	5.42	4.75	4.27	0.95	0.82	0.89	1.24
Total Noncurrent Assets	18	16	18	15	13	8.22	8.50	9.67	4.33	3.72	3.15
Intangible Assets	10	9.01	8.02	10	8.14	6.75	6.02	3.63	2.89	2.31	1.75
Noncurrent Deferred & Refundable Income Taxes	0.59	0.00	1.61	0.20	-	-	-	0.00	0.12	0.09	0.30
Other Noncurrent Operating Assets	0.37	0.03	0.93	0.58	2.73	1.47	2.49	1.75	1.32	1.32	1.09
Total Liabilities & Shareholders' Equity	135	95	74	65	58	40	42	33	33	37	49
Total Liabilities	30	14	7.83	8.62	11	9.35	12	9.81	11	9.39	7.85
Total Current Liabilities	12	13	7.52	7.43	8.45	7.84	11	8.93	10	8.65	7.44
Accounts Payable	3.54	1.93	1.27	1.53	1.77	1.70	2.05	2.49	1.62	2.56	1.21
Accrued Expenses	5.37	4.51	5.25	3.74	1.57	2.91	5.76	1.48	2.14	1.25	1.60
Customer Deposits	-	-	-	-	-	-	-	-	3.45	1.60	0.97
Current Deferred Revenue	0.33	0.65	0.74	1.04	0.73	0.21	0.23	0.14	0.20	0.19	0.32
Current Deferred & Payable Income Tax Liabilities	-	0.00	0.26	0.22	0.32	0.56	0.84	1.49	2.11	2.47	2.66
Other Current Liabilities	-	-	-	-	1.34	1.01	0.87	0.90	0.75	0.58	0.69
Total Noncurrent Liabilities	17	0.32	0.31	1.20	2.13	1.51	1.06	0.88	0.57	0.74	0.41
Other Noncurrent Operating Liabilities	-	-	0.00	1.20	1.93	0.46	0.97	0.85	0.57	0.74	0.41
Total Equity & Noncontrolling Interests	105	81	66	57	48	30	30	23	23	27	41
Total Preferred & Common Equity	105	81	66	57	48	30	30	23	23	27	41
Total Common Equity	105	74	54	38	26	7.31	-7.52	-15	-15	27	41
Common Stock	121	122	122	123	124	128	129	130	113	136	149
Retained Earnings	13	-20	-42	-64	-77	-100	-118	-128	-128	-108	-108
Accumulated Other Comprehensive Income / (Loss)	-12	-11	-8.85	-4.04	-4.39	-4.36	-1.88	0.03	0.03	0.03	0.03

This table presents MIND Technology's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026	Q1 2027
Period end date	10/31/2023	4/30/2024	7/31/2024	10/31/2024	4/30/2025	7/31/2025	10/31/2025	4/30/2026
Total Assets	30	35	38	36	36	36	47	51
Total Current Assets	24	30	33	31	32	32	43	47
Cash & Equivalents	5.57	0.92	1.90	3.51	9.17	7.83	19	18
Accounts Receivable	3.88	9.41	9.59	9.47	7.78	11	11	17
Inventories, net	13	16	19	17	13	12	12	11
Prepaid Expenses	1.70	3.01	2.08	1.04	1.31	1.15	1.07	1.59
Plant, Property, & Equipment, net	0.83	0.79	0.78	0.78	1.05	1.16	1.17	1.20
Total Noncurrent Assets	4.59	4.56	4.42	4.07	3.47	2.95	3.40	2.83
Intangible Assets	3.07	2.71	2.57	2.42	2.16	2.02	1.89	1.61
Noncurrent Deferred & Refundable Income Taxes	-	0.12	0.12	0.12	0.09	0.09	0.24	0.30
Other Noncurrent Operating Assets	1.52	1.73	1.73	1.53	1.22	0.84	1.27	0.91
Total Liabilities & Shareholders' Equity	30	35	38	36	36	36	47	51
Total Liabilities	8.63	11	13	11	9.59	6.99	7.40	9.24
Total Current Liabilities	7.91	10	12	10	8.94	6.62	6.82	8.98
Accounts Payable	1.13	1.70	4.39	2.18	2.01	1.18	1.70	1.50
Accrued Expenses	4.36	5.30	1.91	1.74	1.36	1.24	1.45	2.61
Customer Deposits	-	-	2.73	3.11	1.81	0.97	0.39	0.90
Current Deferred Revenue	0.13	0.56	0.43	0.25	0.51	0.36	0.17	0.60
Current Deferred & Payable Income Tax Liabilities	1.46	1.93	2.17	2.09	2.68	2.39	2.42	2.72
Other Current Liabilities	0.83	0.73	0.75	0.66	0.57	0.48	0.68	0.66
Total Noncurrent Liabilities	0.73	1.00	0.99	0.87	0.65	0.37	0.59	0.26
Other Noncurrent Operating Liabilities	0.68	1.00	0.99	0.87	0.65	0.37	0.59	0.26
Total Equity & Noncontrolling Interests	21	24	24	25	27	29	40	42
Total Preferred & Common Equity	21	24	24	25	27	29	40	42
Total Common Equity	-17	-14	-13	25	27	29	40	42
Common Stock	113	113	113	136	136	136	147	150
Retained Earnings	-130	-127	-127	-110	-109	-107	-107	-108
Accumulated Other Comprehensive Income / (Loss)	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03

This table displays calculated financial ratios and metrics derived from MIND Technology's official financial filings.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Period end date	1/31/2016	1/31/2017	1/31/2018	1/31/2019	1/31/2020	1/31/2021	1/31/2022	1/31/2023	1/31/2024	1/31/2025	1/31/2026
DEI Shares Outstanding	12,090,476.00	12,089,758.00	12,089,339.00	12,119,399.00	12,167,233.00	12,875,221.00	13,774,104.00	13,788,738.00	1,405,779.00	7,969,421.00	9,038,082.00
DEI Adjusted Shares Outstanding	120,905.00	120,898.00	120,893.00	121,194.00	121,672.00	128,752.00	137,741.00	137,887.00	1,405,779.00	7,969,421.00	9,038,082.00
DEI Earnings Per Adjusted Shares Outstanding	-320.38	-278.24	-43.74	-55.16	-109.61	-175.22	-130.58	-91.52	-2.50	2.21	0.08
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-37.68%	-20.88%	17.75%	-11.05%	-30.33%	-29.09%	8.92%	8.24%	45.97%	28.36%	-12.62%
EBITDA Growth	-81.52%	-147.69%	641.80%	-46.50%	-77.51%	-660.14%	-29.02%	69.25%	150.01%	356.21%	-52.84%
EBIT Growth	-184.18%	-13.55%	88.53%	-36.28%	-29.04%	-117.54%	-1.13%	60.39%	104.41%	2,865.55%	-58.90%
NOPAT Growth	-296.74%	-16.93%	90.34%	160.99%	-441.29%	-127.79%	-1.51%	61.15%	39.47%	304.73%	-84.93%
Net Income Growth	-321.41%	14.41%	86.78%	-13.55%	-126.78%	-79.91%	25.71%	41.45%	103.10%	1,751.82%	-85.22%
EPS Growth	-335.14%	13.35%	34.77%	2.20%	38.20%	-63.64%	27.22%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-40.30%	-79.04%	-77.20%	-858.97%	-6.60%	-9.33%	-169.40%	83.05%	-70.98%	113.11%	297.24%
Free Cash Flow Firm Growth	417.62%	-40.50%	61.76%	-55.88%	-22.38%	-117.66%	-686.18%	159.65%	-169.56%	105.02%	42.89%
Invested Capital Growth	-27.30%	-31.18%	-33.52%	-18.26%	-29.21%	-26.24%	9.11%	-43.64%	18.67%	26.76%	1.69%
Revenue Q/Q Growth	-6.36%	2.77%	-4.33%	4.80%	-19.53%	6.71%	-10.26%	1.69%	33.71%	3.69%	-11.36%
EBITDA Q/Q Growth	-37.60%	47.47%	1,366.12%	21.32%	-91.17%	-23.61%	-0.24%	66.18%	-8.12%	13.18%	-39.87%
EBIT Q/Q Growth	-6.37%	10.29%	82.92%	29.64%	-165.60%	-3.32%	1.35%	56.06%	15.53%	16.47%	-46.31%
NOPAT Q/Q Growth	-14.10%	6.32%	85.58%	225.80%	-140.20%	-10.31%	6.98%	53.03%	-557.72%	12.20%	-76.48%
Net Income Q/Q Growth	-83.73%	33.88%	81.08%	26.35%	-228.50%	12.78%	3.36%	42.50%	154.80%	13.18%	-75.43%
EPS Q/Q Growth	-86.13%	33.25%	9.00%	13.59%	2.65%	13.04%	0.76%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-33.31%	-34.77%	-56.19%	42.04%	-233.54%	0.20%	-34.02%	64.39%	20.88%	186.80%	-55.88%
Free Cash Flow Firm Q/Q Growth	-7.26%	-26.57%	43.75%	47.82%	-56.13%	-114.82%	-25.15%	237.61%	-194.11%	115.15%	-91.42%
Invested Capital Q/Q Growth	-13.88%	-12.83%	-12.11%	-16.61%	-28.81%	-7.09%	5.84%	-31.81%	10.99%	1.35%	8.81%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	5.15%	-18.08%	45.07%	61.49%	43.30%	34.45%	26.06%	39.78%	43.74%	44.74%	45.58%
EBITDA Margin	9.80%	-5.91%	27.17%	16.34%	5.27%	-41.66%	-49.35%	-14.02%	4.80%	17.08%	9.22%
Operating Margin	-51.64%	-76.32%	-6.26%	4.29%	-21.02%	-67.54%	-62.94%	-22.59%	1.42%	14.55%	6.98%
EBIT Margin	-52.17%	-74.87%	-7.29%	-11.17%	-20.69%	-63.47%	-58.93%	-21.57%	0.65%	15.06%	7.08%
Profit (Net Income) Margin	-74.75%	-80.86%	-9.08%	-11.59%	-37.73%	-95.72%	-65.28%	-35.31%	0.75%	10.83%	1.83%
Tax Burden Percent	139.54%	105.79%	126.20%	105.33%	182.34%	150.79%	110.77%	163.74%	115.13%	71.89%	25.85%
Interest Burden Percent	102.68%	102.09%	98.66%	98.50%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	562.18%	28.11%	74.15%
Return on Invested Capital (ROIC)	-12.95%	-21.31%	-3.03%	2.55%	-11.32%	-35.81%	-40.95%	-19.50%	-14.98%	24.91%	3.33%
ROIC Less NNEP Spread (ROIC-NNEP)	-119.04%	-136.25%	59.21%	61.42%	40.51%	57.37%	48.54%	57.00%	-53.87%	21.67%	3.24%
Return on Net Nonoperating Assets (RNNOA)	-17.85%	-14.34%	-2.94%	-10.67%	-10.31%	-16.21%	-8.77%	-13.63%	16.17%	-4.61%	-1.15%
Return on Equity (ROE)	-30.80%	-35.65%	-5.97%	-8.12%	-21.64%	-52.02%	-49.72%	-33.13%	1.20%	20.31%	2.18%
Cash Return on Invested Capital (CROIC)	18.66%	15.62%	37.24%	22.64%	22.88%	-5.61%	-49.67%	36.32%	-32.05%	1.31%	1.66%
Operating Return on Assets (OROA)	-17.20%	-26.75%	-4.18%	-6.90%	-10.02%	-27.48%	-33.30%	-14.41%	0.72%	20.11%	6.75%
Return on Assets (ROA)	-24.64%	-28.89%	-5.21%	-7.16%	-18.27%	-41.44%	-36.89%	-23.59%	0.83%	14.45%	1.74%
Return on Common Equity (ROCE)	-30.80%	-34.26%	-5.21%	-6.14%	-13.25%	-21.90%	0.17%	13.82%	-0.78%	4.96%	2.18%
Return on Equity Simple (ROE_SIMPLE)	-36.88%	-40.96%	-6.66%	-8.78%	-23.69%	-66.76%	-49.85%	-38.31%	1.21%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-19	-22	-2.12	1.29	-4.40	-10	-10	-3.96	-2.39	4.90	0.74
NOPAT Margin	-36.15%	-53.42%	-4.38%	3.00%	-14.72%	-47.28%	-44.06%	-15.81%	-6.56%	10.46%	1.80%
Net Nonoperating Expense Percent (NNEP)	106.09%	114.94%	-62.25%	-58.87%	-51.83%	-93.18%	-89.49%	-76.50%	38.90%	3.25%	0.09%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-10.57%	17.93%	1.78%
Cost of Revenue to Revenue	94.85%	118.08%	54.93%	38.51%	56.70%	65.55%	73.94%	60.22%	56.26%	55.26%	54.42%
SG&A Expenses to Revenue	34.80%	48.18%	40.73%	48.68%	47.26%	59.62%	63.88%	51.51%	33.26%	24.09%	32.60%
R&D to Revenue	1.80%	2.38%	3.11%	2.70%	6.18%	14.16%	15.56%	5.49%	5.84%	4.08%	3.87%
Operating Expenses to Revenue	56.79%	58.24%	51.33%	57.19%	64.32%	101.99%	89.00%	62.37%	42.33%	30.19%	38.60%
Earnings before Interest and Taxes (EBIT)	-27	-31	-3.52	-4.80	-6.19	-13	-14	-5.39	0.24	7.06	2.90
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	5.08	-2.42	13	7.02	1.58	-8.84	-11	-3.51	1.75	8.00	3.77
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.27	0.68	0.84	1.26	1.35	3.77	0.00	0.00	0.00	2.70	1.91
Price to Tangible Book Value (P/TBV)	0.31	0.82	1.04	1.90	2.32	49.03	0.00	0.00	0.00	2.95	1.99
Price to Revenue (P/Rev)	0.54	1.22	0.94	1.12	1.15	1.30	0.82	0.36	0.23	1.58	1.93
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.20	105.44
Dividend Yield	0.00%	0.00%	1.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	23.83%	0.95%
Enterprise Value to Invested Capital (EV/IC)	0.37	0.72	0.84	1.25	1.66	1.97	1.99	3.15	2.36	3.12	2.68
Enterprise Value to Revenue (EV/Rev)	0.86	1.47	0.97	1.33	1.79	2.21	2.24	1.84	1.12	1.46	1.47
Enterprise Value to EBITDA (EV/EBITDA)	8.82	0.00	3.57	8.13	33.86	0.00	0.00	0.00	23.33	8.57	15.91
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	171.95	9.71	20.69
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	44.20	0.00	0.00	0.00	0.00	0.00	13.98	81.25
Enterprise Value to Operating Cash Flow (EV/OCF)	2.98	19.05	65.17	0.00	0.00	0.00	0.00	0.00	0.00	105.29	23.21
Enterprise Value to Free Cash Flow (EV/FCFF)	1.66	3.74	1.80	4.98	6.01	0.00	0.00	6.25	0.00	266.21	163.19
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.20	0.08	0.00	0.00	0.00	0.03	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.16	0.00	0.00	0.00	0.00	0.03	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.15	0.11	-0.05	-0.17	-0.25	-0.28	-0.18	-0.24	-0.30	-0.21	-0.35
Leverage Ratio	1.25	1.23	1.15	1.13	1.18	1.26	1.35	1.40	1.45	1.41	1.25
Compound Leverage Factor	1.28	1.26	1.13	1.12	1.18	1.26	1.35	1.40	1.45	1.41	1.25
Debt to Total Capital	16.32%	7.30%	0.00%	0.00%	0.00%	2.72%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	2.56%	7.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	13.76%	0.00%	0.00%	0.00%	0.00%	2.72%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	8.35%	17.53%	32.34%	46.39%	73.90%	124.84%	163.89%	166.86%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	83.68%	84.35%	82.47%	67.66%	53.61%	23.39%	-24.84%	-63.89%	-66.86%	100.00%	100.00%
Debt to EBITDA	4.03	-2.63	0.00	0.00	0.00	-0.10	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	3.29	-1.18	0.00	0.00	0.00	0.43	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	3.40	0.00	0.00	0.00	0.00	-0.10	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	-1.09	-0.29	0.00	0.00	0.00	-0.08	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	-0.89	-0.13	0.00	0.00	0.00	0.38	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	-0.92	0.00	0.00	0.00	0.00	-0.08	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.70	1.51	3.59	2.93	0.90	-1.76	-2.95	-4.18	-3.14	3.26	4.92
Noncontrolling Interest Sharing Ratio	0.00%	3.92%	12.83%	24.38%	38.76%	57.91%	100.34%	141.72%	165.36%	75.60%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.44	2.60	4.39	4.89	4.67	3.42	2.73	2.49	2.76	3.71	6.03
Quick Ratio	2.07	1.39	2.71	2.89	1.15	1.19	1.24	0.45	1.15	1.98	4.25
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	27	16	26	11	8.90	-1.57	-12	7.37	-5.12	0.26	0.37
Operating Cash Flow to CapEx	4,478.27%	1,114.49%	176.66%	-143.08%	-561.49%	0.00%	0.00%	0.00%	0.00%	0.00%	390.05%
Free Cash Flow to Firm to Interest Expense	37.22	24.97	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	20.75	4.91	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	20.29	4.47	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.33	0.36	0.57	0.62	0.48	0.43	0.57	0.67	1.10	1.33	0.95
Accounts Receivable Turnover	2.10	2.17	3.67	3.80	3.20	3.73	3.59	4.40	7.44	5.10	3.36
Inventory Turnover	4.03	3.89	2.32	1.53	1.45	1.15	1.34	1.20	1.68	1.91	1.79
Fixed Asset Turnover	0.60	0.70	1.45	2.32	3.06	4.17	5.12	9.57	41.23	54.87	38.54
Accounts Payable Turnover	16.54	17.69	16.57	11.79	10.28	8.01	9.11	6.64	9.98	12.39	11.82
Days Sales Outstanding (DSO)	173.61	168.23	99.51	95.95	114.10	97.81	101.67	82.98	49.05	71.59	108.69
Days Inventory Outstanding (DIO)	90.58	93.88	157.02	238.68	252.05	316.40	271.95	303.30	216.78	191.10	203.89
Days Payable Outstanding (DPO)	22.06	20.63	22.02	30.95	35.51	45.55	40.06	55.01	36.58	29.47	30.89
Cash Conversion Cycle (CCC)	242.13	241.48	234.51	303.67	330.63	368.66	333.56	331.28	229.25	233.22	281.69
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	122	84	56	46	32	24	26	15	17	22	22
Invested Capital Turnover	0.36	0.40	0.69	0.85	0.77	0.76	0.93	1.23	2.28	2.38	1.85
Increase / (Decrease) in Invested Capital	-46	-38	-28	-10	-13	-8.46	2.17	-11	2.73	4.64	0.37
Enterprise Value (EV)	45	60	47	57	53	47	52	46	41	69	60
Market Capitalization	28	50	45	48	35	28	19	9.03	8.43	74	79
Book Value per Share	$8.69	$6.09	$4.49	$3.16	$2.10	$0.57	($0.55)	($1.07)	($10.77)	$3.43	$4.58
Tangible Book Value per Share	$7.48	$5.01	$3.62	$2.09	$1.22	$0.04	($0.98)	($1.33)	($12.82)	$3.14	$4.39
Total Capital	126	87	66	57	48	31	30	23	23	27	41
Total Debt	20	6.37	0.00	0.00	0.00	0.85	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	17	0.00	0.00	0.00	0.00	0.85	0.00	0.00	0.00	0.00	0.00
Net Debt	17	2.86	-10	-9.55	-3.23	-3.76	-5.11	-0.78	-5.29	-5.34	-19
Capital Expenditures (CapEx)	0.34	0.28	0.41	3.81	1.04	-1.42	-4.60	-0.47	-0.19	-0.02	0.66
Debt-free, Cash-free Net Working Capital (DFCFNWC)	30	24	15	19	28	14	13	13	13	18	18
Debt-free Net Working Capital (DFNWC)	34	28	26	29	31	19	19	13	18	23	37
Net Working Capital (NWC)	30	22	26	29	31	19	19	13	18	23	37
Net Nonoperating Expense (NNE)	20	11	2.27	6.27	6.88	10	4.90	4.88	-2.67	-0.17	-0.01
Net Nonoperating Obligations (NNO)	17	2.86	-10	-11	-15	-6.64	-4.32	-8.43	-5.29	-5.34	-19
Total Depreciation and Amortization (D&A)	32	28	17	12	7.77	4.63	2.21	1.89	1.52	0.94	0.87
Debt-free, Cash-free Net Working Capital to Revenue	57.66%	59.65%	31.85%	45.10%	92.69%	67.61%	58.13%	50.08%	34.98%	38.70%	44.91%
Debt-free Net Working Capital to Revenue	64.93%	68.21%	52.87%	67.33%	103.50%	89.35%	80.26%	53.19%	49.47%	50.08%	91.44%
Net Working Capital to Revenue	58.72%	52.67%	52.87%	67.33%	103.50%	89.35%	80.26%	53.19%	49.47%	50.08%	91.44%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($322.00)	($279.00)	($182.00)	($178.00)	($110.00)	($180.00)	($131.00)	($92.00)	($2.50)	$4.32	$0.09
Adjusted Weighted Average Basic Shares Outstanding	120.41K	120.70K	120.84K	121.05K	121.43K	125.19K	137.71K	137.84K	1.41M	4.08M	8.26M
Adjusted Diluted Earnings per Share	($322.00)	($279.00)	($182.00)	($178.00)	($110.00)	($180.00)	($131.00)	($92.00)	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	120.41K	120.70K	120.84K	121.05K	121.43K	125.19K	137.71K	137.84K	1.41M	4.08K	8.33M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($110.00)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	120.91K	120.90K	120.89K	121.19K	121.82K	137.67K	137.74K	137.89K	1.41M	7.97M	9.09M
Normalized Net Operating Profit after Tax (NOPAT)	-16	-22	-1.09	1.29	-3.87	-8.26	-10	-3.96	0.36	4.90	2.00
Normalized NOPAT Margin	-31.27%	-53.42%	-2.26%	3.00%	-12.94%	-38.92%	-44.06%	-15.81%	0.99%	10.46%	4.89%
Pre Tax Income Margin	-53.57%	-76.44%	-7.19%	-11.00%	-20.69%	-63.47%	-58.93%	-21.57%	0.65%	15.06%	7.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-37.29	-47.74	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-25.84	-34.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-37.75	-48.18	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-26.30	-34.50	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	-1.47%	-20.65%	-34.32%	0.00%	-8.26%	-16.77%	-21.44%	345.26%	0.00%	0.00%
Augmented Payout Ratio	-0.01%	-1.48%	-20.65%	-34.32%	0.00%	-8.26%	-16.78%	-21.46%	345.26%	12.20%	0.00%

This table displays calculated financial ratios and metrics derived from MIND Technology's official financial filings.

Metric	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026	Q4 2026	Q1 2027
Period end date	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025	4/30/2025	7/31/2025	10/31/2025	1/31/2026	4/30/2026
DEI Shares Outstanding	13,788,738.00	1,405,779.00	1,405,779.00	1,405,779.00	1,405,779.00	7,969,421.00	7,969,421.00	7,969,421.00	7,969,421.00	9,038,082.00	9,089,055.00
DEI Adjusted Shares Outstanding	137,887.00	1,405,779.00	1,405,779.00	1,405,779.00	1,405,779.00	7,969,421.00	7,969,421.00	7,969,421.00	7,969,421.00	9,038,082.00	9,089,055.00
DEI Earnings Per Adjusted Shares Outstanding	-2.75	0.35	0.01	-0.11	11.17	0.26	-0.12	0.24	0.01	-0.03	-0.05
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	63.73%	220.51%	-8.67%	32.73%	143.37%	12.45%	-18.35%	35.12%	-19.97%	-34.88%	22.40%
EBITDA Growth	52.12%	-7.23%	50.82%	2,537.14%	267.66%	46.83%	-130.76%	65.06%	-48.17%	-85.63%	164.97%
EBIT Growth	49.81%	1.91%	144.20%	377.88%	218.14%	58.57%	-156.38%	76.80%	-53.88%	-92.60%	109.62%
NOPAT Growth	49.97%	48.91%	420.85%	244.59%	241.15%	35.47%	-179.30%	154.71%	-95.70%	-105.05%	80.78%
Net Income Growth	111.01%	116.22%	497.50%	153.41%	127.29%	41.04%	-201.68%	141.73%	-95.20%	-113.34%	57.63%
EPS Growth	0.00%	275.00%	0.00%	0.00%	0.00%	42.86%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Growth	-972.76%	200.46%	-59.12%	315.92%	206.57%	213.24%	185.59%	-209.55%	-60.93%	-159.14%	-133.09%
Free Cash Flow Firm Growth	362.90%	-109.60%	151.27%	-189.68%	-196.67%	-115.17%	57.37%	116.27%	126.07%	81.33%	-235.40%
Invested Capital Growth	-27.09%	18.67%	-9.80%	0.00%	38.81%	26.76%	-23.14%	-6.96%	-5.28%	1.69%	36.69%
Revenue Q/Q Growth	-34.22%	168.96%	-27.66%	3.70%	20.62%	24.28%	-47.47%	71.61%	-28.56%	1.11%	-1.27%
EBITDA Q/Q Growth	-1,525.71%	274.87%	-26.33%	16.37%	11.84%	53.14%	-115.43%	724.39%	-64.88%	-57.53%	-30.24%
EBIT Q/Q Growth	-169.94%	219.33%	-29.64%	22.60%	14.76%	60.17%	-125.02%	484.47%	-70.07%	-74.29%	-67.50%
NOPAT Q/Q Growth	-89.44%	251.76%	-62.37%	33.65%	84.94%	45.66%	-122.03%	529.28%	-96.88%	-271.35%	16.24%
Net Income Q/Q Growth	138.02%	153.52%	-33.75%	-16.35%	61.78%	57.32%	-147.76%	298.87%	-96.79%	-537.10%	-51.66%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-338.16%	130.60%	-823.44%	122.26%	116.26%	-10.05%	97.67%	-128.49%	177.14%	-236.13%	-10.60%
Free Cash Flow Firm Q/Q Growth	-80.29%	-124.76%	356.89%	-815.48%	78.76%	44.89%	287.88%	-26.02%	-65.96%	-139.47%	-1,262.42%
Invested Capital Q/Q Growth	0.00%	10.99%	30.93%	-0.60%	-3.90%	1.35%	-20.61%	20.33%	-2.17%	8.81%	6.71%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	45.30%	46.65%	43.58%	47.61%	44.78%	43.54%	42.15%	50.36%	46.58%	40.74%	42.36%
EBITDA Margin	-22.88%	14.88%	15.15%	17.00%	15.76%	19.42%	-5.71%	20.77%	10.21%	4.29%	3.03%
Operating Margin	-29.21%	17.33%	7.54%	14.25%	15.50%	18.49%	-8.33%	19.64%	7.99%	0.80%	0.14%
EBIT Margin	-28.71%	12.74%	12.39%	14.65%	13.94%	17.96%	-8.55%	19.17%	8.03%	2.04%	0.67%
Profit (Net Income) Margin	11.42%	10.76%	9.86%	7.95%	10.67%	13.50%	-12.28%	14.22%	0.64%	-2.77%	-4.25%
Tax Burden Percent	-35.57%	64.29%	79.57%	54.29%	76.53%	75.17%	143.49%	74.22%	7.97%	-135.50%	-632.31%
Interest Burden Percent	111.83%	131.46%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	33.44%	20.43%	45.71%	23.47%	24.83%	0.00%	25.78%	92.03%	235.50%	732.31%
Return on Invested Capital (ROIC)	-30.12%	26.35%	8.92%	26.08%	28.71%	33.11%	-13.08%	32.52%	1.39%	-1.99%	-1.89%
ROIC Less NNEP Spread (ROIC-NNEP)	-79.80%	27.86%	62.23%	23.80%	31.90%	34.24%	-2.99%	33.51%	1.39%	-0.64%	0.51%
Return on Net Nonoperating Assets (RNNOA)	11.72%	-8.36%	1.87%	-1.85%	-6.24%	-7.28%	0.60%	-6.12%	-0.49%	0.23%	-0.20%
Return on Equity (ROE)	-18.40%	17.99%	10.79%	24.23%	22.48%	25.83%	-12.48%	26.40%	0.90%	-1.77%	-2.09%
Cash Return on Invested Capital (CROIC)	29.37%	-32.05%	10.23%	-187.59%	-9.10%	1.31%	42.59%	27.94%	20.29%	1.66%	-24.86%
Operating Return on Assets (OROA)	-24.46%	14.02%	12.84%	14.74%	19.10%	23.98%	-10.85%	25.29%	8.89%	1.94%	0.66%
Return on Assets (ROA)	9.73%	11.85%	10.21%	8.00%	14.62%	18.02%	-15.57%	18.77%	0.71%	-2.63%	-4.17%
Return on Common Equity (ROCE)	13.59%	-11.76%	-6.74%	-13.15%	4.18%	6.30%	-3.10%	7.70%	0.90%	-1.77%	-2.09%
Return on Equity Simple (ROE_SIMPLE)	-2.36%	0.00%	6.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-1.02	1.54	0.58	0.78	1.44	2.09	-0.46	1.98	0.06	-0.11	-0.09
NOPAT Margin	-20.45%	11.54%	6.00%	7.74%	11.86%	13.90%	-5.83%	14.58%	0.64%	-1.08%	-0.92%
Net Nonoperating Expense Percent (NNEP)	49.68%	-1.51%	-53.31%	2.28%	-3.19%	-1.13%	-10.09%	-0.99%	0.00%	-1.36%	-2.40%
Return On Investment Capital (ROIC_SIMPLE)	-4.80%	6.82%	2.46%	3.17%	5.70%	7.65%	-1.73%	6.86%	0.15%	-0.26%	-0.21%
Cost of Revenue to Revenue	54.70%	53.35%	56.42%	52.39%	55.22%	56.46%	57.85%	49.64%	53.42%	59.26%	57.64%
SG&A Expenses to Revenue	59.13%	22.29%	28.51%	27.74%	22.82%	19.85%	42.82%	26.82%	31.18%	33.74%	36.65%
R&D to Revenue	10.21%	4.89%	4.77%	3.27%	4.64%	3.74%	4.81%	2.29%	5.22%	3.97%	3.21%
Operating Expenses to Revenue	74.51%	29.32%	36.04%	33.36%	29.29%	25.05%	50.48%	30.71%	38.59%	39.94%	42.21%
Earnings before Interest and Taxes (EBIT)	-1.43	1.70	1.20	1.47	1.69	2.70	-0.68	2.60	0.78	0.20	0.07
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1.14	1.99	1.47	1.71	1.91	2.92	-0.45	2.82	0.99	0.42	0.29
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.20	2.70	2.01	2.61	2.20	1.91	1.36
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.22	2.95	2.19	2.81	2.31	1.99	1.41
Price to Revenue (P/Rev)	0.02	0.23	0.24	0.17	0.11	1.58	1.19	1.55	1.90	1.93	1.32
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.31	4.20	3.22	4.03	28.69	105.44	43.12
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	319.09%	23.83%	31.09%	24.84%	3.49%	0.95%	2.32%
Enterprise Value to Invested Capital (EV/IC)	2.10	2.36	2.00	1.87	0.07	3.12	2.54	3.21	3.33	2.68	1.63
Enterprise Value to Revenue (EV/Rev)	1.20	1.12	1.28	1.11	0.03	1.46	0.98	1.39	1.48	1.47	0.91
Enterprise Value to EBITDA (EV/EBITDA)	17.21	23.33	20.21	10.49	0.22	8.57	7.28	9.38	10.89	15.91	8.59
Enterprise Value to EBIT (EV/EBIT)	159.49	171.95	48.02	14.33	0.25	9.71	8.55	10.69	12.65	20.69	10.65
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	30.11	0.35	13.98	13.42	14.93	21.76	81.25	30.57
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	105.29	4.68	9.30	11.66	23.21	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	6.03	0.00	18.53	0.00	0.00	266.21	5.18	11.08	15.94	163.19	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.15	-0.30	0.03	-0.08	-0.20	-0.21	-0.20	-0.18	-0.35	-0.35	-0.39
Leverage Ratio	1.47	1.45	1.48	1.55	1.42	1.41	1.41	1.38	1.28	1.25	1.28
Compound Leverage Factor	1.65	1.91	1.48	1.55	1.42	1.41	1.41	1.38	1.28	1.25	1.28
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	178.18%	166.86%	159.79%	154.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-78.18%	-66.86%	-59.79%	-54.28%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	-4.62	-2.99	-2.86	-2.62	-1.90	2.87	1.05	4.70	5.88	4.74	2.42
Noncontrolling Interest Sharing Ratio	173.86%	165.36%	162.47%	154.28%	81.40%	75.60%	75.14%	70.84%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.09	2.76	2.89	2.64	3.12	3.71	3.55	4.79	6.28	6.03	5.20
Quick Ratio	1.20	1.15	1.01	0.93	1.29	1.98	1.90	2.83	4.40	4.25	3.80
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	4.79	-1.19	3.05	-22	-4.63	-2.55	4.80	3.55	1.21	-0.48	-6.49
Operating Cash Flow to CapEx	-4,472.92%	0.00%	0.00%	1,322.50%	3,414.93%	918.75%	1,716.46%	-636.81%	961.29%	-805.96%	-2,804.17%
Free Cash Flow to Firm to Interest Expense	28.35	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-12.70	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-12.99	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.85	1.10	1.04	1.01	1.37	1.33	1.27	1.32	1.11	0.95	0.98
Accounts Receivable Turnover	7.02	7.44	4.24	3.97	6.77	5.10	5.25	4.74	4.60	3.36	3.52
Inventory Turnover	1.02	1.68	1.31	1.08	1.61	1.91	1.69	1.71	1.72	1.79	1.91
Fixed Asset Turnover	11.07	41.23	15.55	48.68	56.32	54.87	49.03	50.12	47.55	38.54	38.07
Accounts Payable Turnover	5.76	9.98	13.71	4.69	14.85	12.39	13.47	9.52	12.88	11.82	13.27
Days Sales Outstanding (DSO)	51.98	49.05	86.16	91.92	53.92	71.59	69.58	77.01	79.32	108.69	103.79
Days Inventory Outstanding (DIO)	358.68	216.78	279.18	338.27	226.92	191.10	216.08	212.86	211.66	203.89	191.41
Days Payable Outstanding (DPO)	63.37	36.58	26.63	77.82	24.59	29.47	27.10	38.36	28.33	30.89	27.51
Cash Conversion Cycle (CCC)	347.30	229.25	338.71	352.36	256.25	233.22	258.56	251.51	262.65	281.69	267.69
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	16	17	23	23	22	22	17	21	21	22	24
Invested Capital Turnover	1.47	2.28	1.49	3.37	2.42	2.38	2.24	2.23	2.19	1.85	2.07
Increase / (Decrease) in Invested Capital	-5.81	2.73	-2.47	23	6.07	4.64	-5.26	-1.57	-1.15	0.37	6.41
Enterprise Value (EV)	33	41	45	42	1.53	69	44	67	68	60	39
Market Capitalization	0.64	8.43	8.58	6.33	5.03	74	53	75	88	79	56
Book Value per Share	($11.79)	($10.77)	($10.06)	($9.46)	$17.93	$3.43	$3.34	$3.62	$5.01	$4.58	$4.57
Tangible Book Value per Share	($13.98)	($12.82)	($11.99)	($11.28)	$16.21	$3.14	$3.07	$3.37	$4.78	$4.39	$4.39
Total Capital	21	23	24	24	25	27	27	29	40	41	42
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-5.57	-5.29	-0.92	-1.90	-3.51	-5.34	-9.17	-7.83	-19	-19	-18
Capital Expenditures (CapEx)	0.05	0.00	-0.39	0.08	0.07	0.22	0.24	0.18	0.09	0.15	0.05
Debt-free, Cash-free Net Working Capital (DFCFNWC)	11	13	18	18	18	18	14	17	17	18	20
Debt-free Net Working Capital (DFNWC)	17	18	19	20	21	23	23	25	36	37	38
Net Working Capital (NWC)	17	18	19	20	21	23	23	25	36	37	38
Net Nonoperating Expense (NNE)	-1.59	0.10	-0.37	-0.02	0.14	0.06	0.51	0.05	-0.00	0.17	0.32
Net Nonoperating Obligations (NNO)	-5.57	-5.29	-0.92	-1.90	-3.51	-5.34	-9.17	-7.83	-19	-19	-18
Total Depreciation and Amortization (D&A)	0.29	0.29	0.27	0.24	0.22	0.22	0.23	0.22	0.21	0.22	0.23
Debt-free, Cash-free Net Working Capital to Revenue	40.06%	34.98%	51.60%	48.25%	39.22%	38.70%	30.15%	35.54%	35.89%	44.91%	47.06%
Debt-free Net Working Capital to Revenue	60.46%	49.47%	54.19%	53.25%	46.97%	50.08%	50.50%	51.65%	77.85%	91.44%	88.39%
Net Working Capital to Revenue	60.46%	49.47%	54.19%	53.25%	46.97%	50.08%	50.50%	51.65%	77.85%	91.44%	88.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.27)	$0.35	$0.00	($0.11)	$2.87	$0.50	($0.12)	$0.24	$0.01	($0.04)	($50.00)
Adjusted Weighted Average Basic Shares Outstanding	1.41M	1.41M	1.41M	1.41M	5.47M	4.08M	7.97M	7.97M	8.05M	8.26M	9.09M
Adjusted Diluted Earnings per Share	$0.00	$0.35	$0.00	$0.00	$0.00	$0.50	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	1.41M	1.41K	1.41M	1.41M	7.97M	4.08M	7.97M	7.97M	9.04M	8.33M	9.09M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.35	$0.00	$0.00	$0.00	$0.50	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.41M	1.41M	1.41M	1.41M	7.97M	7.97M	7.97M	7.97M	9.04M	9.09M	9.09M
Normalized Net Operating Profit after Tax (NOPAT)	-1.02	1.54	0.58	0.78	1.44	2.09	-0.46	1.98	0.54	0.05	0.01
Normalized NOPAT Margin	-20.45%	11.54%	6.00%	7.74%	11.86%	13.90%	-5.83%	14.58%	5.59%	0.56%	0.10%
Pre Tax Income Margin	-32.11%	16.74%	12.39%	14.65%	13.94%	17.96%	-8.55%	19.17%	8.03%	2.04%	0.67%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-8.45	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-6.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-8.73	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-6.30	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	345.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	345.26%	0.00%	0.00%	13.81%	12.20%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

MIND Technology Financials - Frequently Asked Questions

According to the most recent income statement we have on file, MIND Technology's financial year ends in January. Their financial year 2026 ended on January 31, 2026.

MIND Technology's net income appears to be on a downward trend, with a most recent value of $750 thousand in 2026, falling from -$38.74 million in 2016. The previous period was $5.07 million in 2025. View MIND Technology's forecast to see where analysts expect MIND Technology to go next.

MIND Technology's total operating income in 2026 was $2.86 million, based on the following breakdown:

Total Gross Profit: $18.66 million
Total Operating Expenses: $15.81 million

Over the last 10 years, MIND Technology's total revenue changed from $51.82 million in 2016 to $40.95 million in 2026, a change of -21.0%.

MIND Technology's total liabilities were at $7.85 million at the end of 2026, a 16.4% decrease from 2025, and a 73.6% decrease since 2016.

In the past 10 years, MIND Technology's cash and equivalents has ranged from $778 thousand in 2023 to $19.05 million in 2026, and is currently $19.05 million as of their latest financial filing in 2026.

Over the last 10 years, MIND Technology's book value per share changed from 8.69 in 2016 to 4.58 in 2026, a change of -47.3%.

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Financial statements for NASDAQ:MIND last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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MIND Technology (MIND) Financials

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MIND Technology (MIND) Financials

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