Saturday 17 October 2026 Export MIND’s income statement to Excel — free account

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. In the quarter to July 2026, revenue fell 58.5%, EPS fell 179.2% and free cash flow fell 41.5%, each against the same quarter a year earlier.

4.31 0.03 +0.70%

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Market cap: $38.9M
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 Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 1.86%

Capital & Financial Ratios $m

Market Cap 38.90

Revenue 34.78

Net Income (2.35)

Free Cash Flow (3.86)

Net Debt (15.76)

Current Ratio 6.92

Debt/Equity 0.00

P/E ratio 0.00

Fwd P/E 0.00

P/S ratio 1.13

P/B ratio 0.97

Past 5Y EPS Growth —

This Y EPS Growth (255.73%)

Next Y EPS Growth 230.23%

Next Y revenue growth (6.25%)

Next 5Y EPS Growth 15.00%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 66.86%

10-year low 10-year high

P/B against its own 10 years 40.58%

10-year low 10-year high

EV/Sales against its own 10 years 36.12%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2018	5.63	5.63

predictions special payouts not included in total or ratios

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%

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.

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	(2.24)
’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.

Group	Line	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027e
Price, $
Price, $	Low	28.20	25.00	20.40	7.00	13.60	3.70	4.00	3.05	4.45	3.63	Analyst estimates 2027–2029 Powerpack
	High	51.40	45.70	44.20	33.30	30.50	17.50	8.10	8.55	14.50	11.39
People
People	Employees	199	197	193	232	204	200	190	145	146	157
	Revenue/emp, $m	0.21	0.25	0.22	0.13	0.10	0.12	0.13	0.25	0.32	0.26
Income, $m
Income, $m	Revenue	41	48	43	30	21	23	25	37	47	41
	Gross margin, %	(18.08)	12.60	27.34	43.30	34.45	26.06	39.78	43.74	44.74	45.58
	EBT	(31)	(20)	(20)	(6)	(13)	(14)	(5)	0	7	3
	EBT margin, %	(76.44)	(41.76)	(45.62)	(20.69)	(63.47)	(58.93)	(21.57)	0.65	15.06	7.08
	Net income	(33)	(21)	(20)	(11)	(20)	(15)	(9)	0	5	1
	Depreciation	28	17	12	8	5	2	2	2	1	1
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
	Earnings	(27.90)	(18.20)	(17.80)	(11.00)	(18.00)	(13.10)	(9.20)	(2.24)	1.24	0.09
	Cash flow	2.61	0.60	(4.51)	(4.79)	(5.08)	(12.44)	(2.07)	(3.53)	0.16	0.31
	Capex	3.66	7.45	2.59	(1.92)	2.36	3.34	0.33	0.10	0.00	(0.08)
	Free cash flow	6.27	8.04	(1.92)	(6.71)	(2.72)	(9.10)	(1.73)	(3.44)	0.16	0.23
	Book value	67.05	54.49	46.82	39.24	24.30	21.98	16.41	16.10	6.70	5.02
	Shares, m	1	1	1	1	1	1	1	1	4	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
	P/S	1.43	0.94	1.12	1.15	1.26	0.82	0.37	0.23	0.81	1.75
	P/B	0.80	0.84	1.26	1.35	3.66	0.00	0.00	0.00	1.38	1.73
	EV/Sales	1.65	0.99	1.19	1.29	1.39	0.91	0.63	0.28	0.85	1.46
	EV/FCF	8.96	4.93	(22.05)	(4.74)	(9.66)	(1.68)	(6.49)	(2.17)	59.15	31.17
Cash, $m
Cash, $m	Operating cash flow	3	1	(5)	(6)	(6)	(17)	(3)	(5)	1	3
	Capex	4	9	3	(2)	3	5	0	0	0	(1)
	Free cash flow	8	10	(2)	(8)	(3)	(13)	(2)	(5)	1	2
Balance, $m
Balance, $m	Working capital	22	26	29	31	19	19	13	18	23	37
	Total debt	6	—	—	1	1	2	2	—	—	—
	Net debt	3	(10)	(10)	(2)	(4)	(5)	(1)	(5)	(5)	(19)
	Shareholders’ equity	81	66	57	48	30	30	23	23	27	41
Returns, %
Returns, %	ROA	(29.32)	(26.10)	(31.01)	(21.59)	(46.05)	(43.98)	(33.71)	(10.59)	50.14	1.74
	ROIC	(23.34)	(22.11)	(17.27)	(8.66)	(33.60)	(36.14)	(15.85)	1.87	19.37	7.99
	ROE	(37.65)	(34.35)	(46.51)	(41.75)	(137.31)	17,633.33	113.47	23.53	288.72	2.18

Negative figures in brackets.

All 10 years →

Fiscal years to Jan 2026 · latest quarter Jul 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
SOTK Sono-Tek Corporation	$96.0M	50.0×	46.5×	+1.35% (above 0%: growing)	−22.33% (below 0%: shrinking)	+290.80% (above 0%: growing)	52.88%	7.29%	Compare
LGL LGL Group, Inc. (The)	$84.5M	— (loss-making)	— (loss-making)	+24.78% (above 0%: growing)	n/m	−106.84% (below 0%: shrinking)	66.96%	(38.77%)	Compare
WRAP Wrap Technologies, Inc.	$84.3M	— (loss-making)	— (loss-making)	+102.77% (above 0%: growing)	n/m	−21.30% (below 0%: shrinking)	75.29%	(109.70%)	Compare
ARBE Arbe Robotics Ltd.	$62.4M	— (loss-making)	— (loss-making)	+156.57% (above 0%: growing)	n/m	−1.18% (below 0%: shrinking)	(0.85%)	(1,398.86%)	Compare
GNSS Genasys Inc.	$58.8M	— (loss-making)	56.4×	−25.99% (below 0%: shrinking)	n/m	+50.14% (above 0%: growing)	57.09%	(55.33%)	Compare
ACFN Acorn Energy Inc.	$47.0M	29.6×	—	−29.39% (below 0%: shrinking)	−58.62% (below 0%: shrinking)	−104.72% (below 0%: shrinking)	82.36%	15.07%	Compare
ODYS Odysight.ai Inc.	$43.1M	— (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.	$38.9M	— (loss-making)	— (loss-making)	−58.54% (below 0%: shrinking)	n/m	−41.54% (below 0%: shrinking)	37.18%	(31.95%)
MVIS Microvision, Inc.	$37.6M	— (loss-making)	— (loss-making)	+850.32% (above 0%: growing)	n/m	−50.34% (below 0%: shrinking)	43.58%	(1,643.65%)	Compare
Median of peers	$60.6M	—	—	+20.40%	—	−14.16%	54.99%	(82.51%)

All 34 Scientific & Technical Instruments stocks →