MIND Technology Inc. (MIND) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
2002 TIMBERLOCH PLACE, SUITE 550 THE WOODLANDS, TX 77380-1187 |
| State of Incorp. | DE |
| Fiscal Year End | January 31 |
| Industry (SIC) | 3812 - Search, Detection, Navigation, Guidance, Aeronautical, and Nautical Systems and Instruments (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 10/31/2024 MRQ | 1/31/2024 | 1/31/2023 | 1/31/2022 | 1/31/2021 | 1/31/2020 | 1/31/2019 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 5,289 | 778 | 5,114 | 4,611 | 3,090 | 9,389 | |||
| Cash and cash equivalent | 5,289 | 778 | 5,114 | 4,611 | 3,090 | 9,389 | |||
| Restricted cash and investments | 144 | 160 | |||||||
| Receivables | 6,566 | 3,993 | 8,126 | 4,747 | |||||
| Inventory, net of allowances, customer advances and progress billings | 13,371 | 15,318 | 14,006 | 11,453 | 13,261 | 10,774 | |||
| Inventory | 13,371 | 15,318 | 14,006 | 11,453 | 13,261 | 10,774 | |||
| Contract with customer, asset, after allowance for credit loss | 26 | 2 | 28 | 85 | 13 | 340 | |||
| Disposal group, including discontinued operation | 159 | 4,321 | 2,202 | ||||||
| Other undisclosed current assets | 3,087 | 2,142 | 1,812 | 1,574 | 14,119 | 13,477 | |||
| Total current assets: | 28,339 | 22,233 | 29,245 | 26,791 | 30,627 | 36,342 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 1,324 | 1,749 | 1,835 | 1,471 | 2,300 | ✕ | |||
| Nontrade receivables | 128 | ||||||||
| Property, plant and equipment | 818 | 3,945 | 4,272 | 4,751 | 13,777 | 14,155 | |||
| Long-term investments and receivables | 403 | 712 | |||||||
| Accounts and financing receivable, after allowance for credit loss | 403 | 712 | |||||||
| Intangible assets, net (including goodwill) | 2,888 | 4,931 | 6,018 | 6,750 | 10,692 | 13,026 | |||
| Goodwill | 2,531 | 2,531 | |||||||
| Intangible assets, net (excluding goodwill) | 2,888 | 4,931 | 6,018 | 6,750 | 8,161 | 10,495 | |||
| Disposal group, including discontinued operation, noncurrent assets | 286 | ||||||||
| Deferred income tax assets | 122 | ✕ | |||||||
| Other noncurrent assets | 650 | 429 | 584 | ||||||
| Other undisclosed noncurrent assets | 68 | ||||||||
| Total noncurrent assets: | 5,152 | 10,625 | 12,775 | 12,972 | 27,601 | 28,959 | |||
| TOTAL ASSETS: | 33,491 | 32,858 | 42,020 | 39,763 | 58,228 | 65,301 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 7,209 | 6,348 | 4,386 | 5,178 | 6,344 | 5,496 | |||
| Interest and dividends payable | ✕ | ✕ | ✕ | 947 | |||||
| Taxes payable | ✕ | ✕ | ✕ | 837 | 562 | 242 | 224 | ||
| Employee-related liabilities | ✕ | ✕ | ✕ | 556 | |||||
| Accounts payable | 1,623 | 4,101 | 2,046 | 1,704 | 2,650 | 1,534 | |||
| Accrued liabilities | 5,586 | 2,247 | 2,912 | 3,452 | 3,738 | ||||
| Deferred revenue | 203 | 164 | 232 | 208 | 765 | ✕ | |||
| Debt | 1,339 | ||||||||
| Disposal group, including discontinued operation | 953 | 1,442 | 892 | ||||||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 1,040 | ||
| Other undisclosed current liabilities | 2,865 | 2,419 | 5,128 | 1,008 | |||||
| Total current liabilities: | 10,277 | 8,931 | 10,699 | 7,836 | 8,448 | 7,428 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 966 | 1,313 | 961 | ||||||
| Long-term debt, excluding current maturities | 850 | ||||||||
| Liabilities, other than long-term debt | 573 | 875 | 92 | 198 | 1,167 | 1,195 | |||
| Deferred income tax liabilities | 29 | 92 | 198 | 200 | ✕ | ||||
| Other liabilities | 967 | 1,195 | |||||||
| Operating lease, liability | 573 | 846 | 966 | 463 | 961 | ✕ | |||
| Total noncurrent liabilities: | 573 | 875 | 1,058 | 1,511 | 2,128 | 1,195 | |||
| Total liabilities: | 10,850 | 9,806 | 11,757 | 9,347 | 10,576 | 8,623 | |||
| Equity | |||||||||
| Equity, attributable to parent | 22,641 | 23,052 | 30,263 | 30,416 | 47,652 | 56,678 | |||
| Preferred stock | 37,779 | 37,779 | 37,779 | 23,104 | 22,104 | 18,330 | |||
| Common stock | 14 | 157 | 157 | 157 | 141 | 140 | |||
| Treasury stock, value | (16,863) | (16,862) | (16,860) | (16,860) | (16,860) | ||||
| Additional paid in capital | 113,121 | 129,580 | 128,926 | 128,241 | 123,964 | 123,085 | |||
| Accumulated other comprehensive income (loss) | 34 | 34 | (1,881) | (4,356) | (4,387) | (4,044) | |||
| Accumulated deficit | (128,307) | (127,635) | (117,856) | (99,870) | (77,310) | (63,973) | |||
| Total equity: | 22,641 | 23,052 | 30,263 | 30,416 | 47,652 | 56,678 | |||
| TOTAL LIABILITIES AND EQUITY: | 33,491 | 32,858 | 42,020 | 39,763 | 58,228 | 65,301 | |||
Income Statement (P&L) ($ in thousands)
| 10/31/2024 TTM | 1/31/2024 | 1/31/2023 | 1/31/2022 | 1/31/2021 | 1/31/2020 | 1/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 36,510 | 35,091 | 23,107 | 21,215 | 42,675 | 42,942 | ||
| Operating leases, income statement, lease revenue | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 11,427 | |
| Operating lease, lease income | 11,206 | ✕ | ||||||
| Cost of revenue (Cost of Product and Service Sold) | (341) | (22,116) | (17,085) | (13,906) | (26,054) | (31,202) | ||
| Other undisclosed gross profit | (20,198) | |||||||
| Gross profit: | 15,971 | 12,975 | 6,022 | 7,309 | 16,621 | 11,740 | ||
| Operating expenses | (20,589) | (20,566) | (21,637) | (26,996) | (24,760) | |||
| Operating income (loss): | 15,971 | (7,614) | (14,544) | (14,328) | (10,375) | (13,020) | ||
| Nonoperating income (expense) | (280) | 882 | 926 | 862 | (34) | (6,568) | ||
| Investment income, nonoperating | (5,405) | |||||||
| Other nonoperating income (expense) | (280) | 882 | 926 | 862 | 12 | (24) | ||
| Interest and debt expense | 850 | |||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 15,691 | (6,732) | (12,768) | (13,466) | (10,409) | (19,588) | ||
| Other undisclosed loss from continuing operations before income taxes | (15,453) | (850) | ||||||
| Income (loss) from continuing operations before income taxes: | 238 | (6,732) | (13,618) | (13,466) | (10,409) | (19,588) | ||
| Income tax expense (benefit) | (1,338) | (699) | 39 | (536) | (878) | (252) | ||
| Income (loss) from continuing operations: | (1,100) | (7,431) | (13,579) | (14,002) | (11,287) | (19,840) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (13,579) | (15,861) | (11,287) | (19,840) | |
| Income (loss) from discontinued operations | 1,374 | (1,859) | ||||||
| Other undisclosed net income | ||||||||
| Net income (loss): | 274 | (7,431) | (13,579) | (15,861) | (11,287) | (19,840) | ||
| Other undisclosed net income (loss) attributable to parent | (1,401) | (1,506) | (4,445) | |||||
| Net income (loss) attributable to parent: | 274 | (8,832) | (15,085) | (20,306) | (11,287) | (19,840) | ||
| Preferred stock dividends and other adjustments | (2,901) | (2,254) | (2,050) | (1,708) | ||||
| Other undisclosed net income (loss) available to common stockholders, basic | (3,788) | (3,788) | ||||||
| Net income (loss) available to common stockholders, diluted: | (3,514) | (12,620) | (17,986) | (22,560) | (13,337) | (21,548) | ||
Comprehensive Income ($ in thousands)
| 10/31/2024 TTM | 1/31/2024 | 1/31/2023 | 1/31/2022 | 1/31/2021 | 1/31/2020 | 1/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 274 | (7,431) | (13,579) | (15,861) | (11,287) | (19,840) | ||
| Comprehensive income (loss): | 274 | (7,431) | (13,579) | (15,861) | (11,287) | (19,840) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 514 | (1,932) | (6,668) | (2,393) | 3,102 | |||
| Comprehensive income (loss), net of tax, attributable to parent: | 274 | (6,917) | (15,511) | (22,529) | (13,680) | (16,738) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.