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MIND Technology, Inc.

MIND Technology Scientific & Technical Instruments

MIND Technology, Inc.’s revenue for fiscal 2026 (year ended January 2026) was $40.9 million, down 12.6% from fiscal 2025.

Revenue
−58.5%
EPS
−179.2%
Free cash flow
−41.5%

Quarter to July 2026, against a year earlier

3.34 0.07 +2.14%
Market cap
$29.7M
P/E
0.0×
Fwd P/E
0.0×
Dividend yield
—
F-score
6/9
Altman Z
4.40
Beneish M
−2.64
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 1.86%

Capital & Financial Ratios $m

Size
Market Cap 29.72
Revenue ttm 34.78
Net income ttm (2.35)
Free cash flow ttm (3.86)
Net debt Q (15.76)
Valuation
P/E 0.00
Forward P/E 0.00
Price / sales 0.88
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.76
Financial health
Current ratio Q 6.92 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q (8.60)
Growth
Revenue growth Q −58.54% (below 0%: shrinking)
Operating income growth Q −167.42% (below 0%: shrinking)
EPS, this year −255.73% (below 0%: weak)
EPS, next year A +230.23% (at or above 15%: strong)
Revenue, next year A −29.69% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +15.00% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.6×, against a ten-year median of 1.0×; over the ten years it ranged from 0.2× in 2024 to 1.7× in 2021.
P/S against its own 10 years 45.16%
10-year low 10-year high
P/B against its own 10 years 29.01%
10-year low 10-year high
EV/Sales against its own 10 years 24.96%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—
  1. 5.63 ’18
paid change on the year, %

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 5 5 19 16
Receivables 7 12 13 15
Inventory 13 14 11 11
Other — — — —
28 32 45 43
2024 2025 2026 Q'26
Payables 2 3 1 1
ST’ Debt — — — —
Other 3 2 1 0
10 9 7 6

Compound Annual Growth %

10y 5y 3y
Sales (2.33%) 14.06% 17.86%
Cash Flow (16.15%) 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (8.89%) 6.37% 21.57%

Earnings Trends EPS, adjusted, against the consensus

Q1 FY18 Estimate −4.60 Actual −2.40

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY17 −4.30 −8.00 Miss by 3.70
Q3 FY17 −3.80 −6.20 Miss by 2.40
Q4 FY17 −4.10 −8.30 Miss by 4.20
Q1 FY18 −4.60 −2.40 Beat by 2.20

EPS $

Apr Jul Oct Jan Year
’26 (0.05) (0.19) — — —
’26 (0.12) 0.24 0.01 (0.03) 0.09
’25 0.00 (0.11) 0.24 0.25 1.24
’24 (0.90) (1.80) (0.27) 0.35 (2.50)
’23 (2.40) (2.10) (4.40) (0.20) (9.20)
’22 (3.30) (2.40) (2.40) (4.90) (13.10)
’21 (5.90) (5.90) (3.40) (3.00) (18.00)
Fiscal quarters ending in the months shown.

Revenue $m

Apr Jul Oct Jan Year
’26 10 6 — — —
’26 8 14 10 10 41
’25 10 10 12 15 47
’24 11 8 5 13 37
’23 9 9 3 4 25
’22 4 7 8 4 23
’21 3 5 7 6 21
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Apr Jul Oct Jan Year
’26 (1) (2) — — —
’26 4 (1) 1 (1) 3
’25 (5) 1 2 2 1
’24 (3) 0 (2) 1 (5)
’23 (4) 1 0 (1) (3)
’22 (3) (4) (4) (6) (17)
’21 1 (3) (2) (2) (6)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Apr Jul Oct Jan Year
’26 (1) (2) — — —
’26 4 (1) 1 (1) 2
’25 (4) 1 2 2 1
’24 (3) 0 (2) 1 (5)
’23 — — — 0 (2)
’23 (3) 1 0 — (3)
’22 — — — (4) (13)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to January

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Jul ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 41 48 43 30 21 23 25 37 47 41 35 0.0% 29 50 — +10.5%
Gross margin, % (18.08) 12.60 27.34 43.30 34.45 26.06 39.78 43.74 44.74 45.58 42.24 +63.7 pt
EBT (31) (20) (20) (6) (13) (14) (5) 0 7 3 (1) n/m
EBT margin, % (76.44) (41.76) (45.62) (20.69) (63.47) (58.93) (21.57) 0.65 15.06 7.08 (1.94) +83.5 pt
Net income (33) (21) (20) (11) (20) (15) (9) 0 5 1 (2) n/m
Per share, $
Per share, $ Revenue 33.97 39.95 35.47 24.64 16.95 16.78 17.80 25.97 11.49 4.96 3.83 (19.2%)
Earnings (27.90) (18.20) (17.80) (11.00) (18.00) (13.10) (9.20) (2.50) 1.24 0.09 (0.26) n/m
Cash flow 2.61 0.60 (4.51) (4.79) (5.08) (12.44) (2.07) (3.53) 0.16 0.31 (0.38) (21.0%)
Capex 3.66 7.45 2.59 (1.92) 2.36 3.34 0.33 0.10 0.00 (0.08) (0.04) n/m
Free cash flow 6.27 8.04 (1.92) (6.71) (2.72) (9.10) (1.73) (3.44) 0.16 0.23 (0.42) (30.6%)
Book value 67.05 54.49 46.82 39.24 24.30 21.98 16.41 16.10 6.70 5.02 4.44 (25.0%)
Shares, m 1 1 1 1 1 1 1 1 4 8 9 +23.8%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 24.66 88.95 0.00 11.4
P/S 1.43 0.94 1.12 1.15 1.26 0.82 0.37 0.23 0.81 1.75 0.88 1.0
P/B 0.80 0.84 1.26 1.35 3.66 0.00 0.00 0.00 1.38 1.73 0.76 1.1
EV/Sales 1.65 0.99 1.19 1.29 1.38 0.91 0.63 0.28 0.85 1.46 0.64 1.1
EV/FCF 8.95 4.93 (22.05) (4.74) (9.64) (1.68) (6.46) (2.17) 59.15 31.17 (5.72) 5.7
Cash, $m
Cash, $m Operating cash flow 3 1 (5) (6) (6) (17) (3) (5) 1 3 (3) (2.2%)
Capex 4 9 3 (2) 3 5 0 0 0 (1) 0 n/m
Free cash flow 8 10 (2) (8) (3) (13) (2) (5) 1 2 (4) (14.1%)
Balance, $m
Balance, $m Working capital 22 26 29 31 19 19 13 18 23 37 37 +6.3%
Net debt 3 (10) (10) (2) (4) (5) (1) (5) (5) (19) (16) n/m
Shareholders’ equity 81 66 57 48 30 30 23 23 27 41 40 (7.2%)
Returns, %
Returns, % ROA (29.32) (26.10) (31.01) (21.59) (46.05) (43.98) (33.71) (10.59) 50.14 1.74 (5.71) +31.1 pt
ROIC (23.34) (22.11) (17.27) (8.66) (33.60) (36.14) (15.85) 1.87 19.37 7.99 (2.37) +31.3 pt
ROE (37.65) (34.35) (46.51) (41.75) (137.31) 17,633.33 113.47 23.53 288.72 2.18 (6.81) +39.8 pt
People
People Employees 199 197 193 232 204 200 190 145 146 157 — (2.6%)
Revenue/emp, $m 0.21 0.25 0.22 0.13 0.10 0.12 0.13 0.25 0.32 0.26 — +2.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jan 2026 · latest quarter Jul 2026 · fundamentals updated 26 Oct 2026

MIND Technology, Inc. vs peers in Scientific & Technical Instruments (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
LGL LGL Group, Inc. (The) $82.6M — (loss-making) — (loss-making) +24.78% (above 0%: growing) n/m −106.84% (below 0%: shrinking) 66.96% (38.77%) Compare
SOTK Sono-Tek Corporation $68.4M 36.4× 47.8× +1.35% (above 0%: growing) −33.33% (below 0%: shrinking) +580.50% (above 0%: growing) 52.88% 7.29% Compare
WRAP Wrap Technologies, Inc. $63.2M — (loss-making) — (loss-making) +102.77% (above 0%: growing) n/m −21.30% (below 0%: shrinking) 75.29% (109.70%) Compare
GNSS Genasys Inc. $59.7M — (loss-making) — (loss-making) −25.99% (below 0%: shrinking) n/m +50.14% (above 0%: growing) 57.09% (55.33%) Compare
ARBE Arbe Robotics Ltd. $52.6M — (loss-making) — (loss-making) +156.57% (above 0%: growing) n/m −1.18% (below 0%: shrinking) (0.85%) (1,398.86%) Compare
MVIS Microvision, Inc. $38.8M — (loss-making) — (loss-making) +895.85% (above 0%: growing) n/m +9.71% (above 0%: growing) 49.96% (889.29%) Compare
ACFN Acorn Energy Inc. $36.5M 16.5× — +4.56% (above 0%: growing) +270.00% (above 0%: growing) +11.51% (above 0%: growing) 80.55% 7.33% Compare
ODYS Odysight.ai Inc. $35.2M — (loss-making) — (loss-making) +16.02% (above 0%: growing) n/m −7.02% (below 0%: shrinking) 37.86% (1,078.81%) Compare
MIND MIND Technology, Inc. $29.7M — (loss-making) — (loss-making) −58.54% (below 0%: shrinking) n/m −41.54% (below 0%: shrinking) 37.18% (31.95%)
Median of peers $56.1M — — +20.40% — +4.27% 54.99% (82.51%)

All 33 Scientific & Technical Instruments stocks →

Pay and ownership Proxy statement filed 1 June 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 815.49k 748.06k 132.58
2025 678.29k 933.93k 147.27
2024 298.43k 289.66k 90.91

Ownership

Directors and executive officers, together 3.30%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

MIND Technology, Inc. (MIND) Latest News

14 Sep

Impact 3 ·

9 Sep

Impact 3 · transcript
Impact 3 · · Moby transcript
Impact 3 · · PR Newswire

8 Sep

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11 Jun

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10 Jun

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28 Apr

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21 Apr

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17 Apr

Impact 4 · · GuruFocus.com

16 Apr

Impact 4 · · MarketBeat
Impact 4 · · Moby

15 Apr

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17 Mar

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8 Feb

Impact 3 · · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.

12 Jan

Impact 4 · · Simply Wall St.

5 Jan

Impact 3 · · Zacks

16 Dec

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15 Dec

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10 Dec

Impact 3 · · GuruFocus.com transcript

9 Dec

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2 Dec

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30 Oct

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23 Sep

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17 Sep

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15 Sep

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2 Sep

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1 Sep

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stockrow.com/MIND · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com