MIND Technology, Inc. (MIND) Financial Statements (2024 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)

10/31/2023
Q3
7/31/2023
Q2
4/30/2023
Q1
1/31/2023
Q4
10/31/2022
Q3
7/31/2022
Q2
4/30/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments494815778812833817
Cash and cash equivalents494815778812833817
Receivables7,1437,3903,9933,8966,6579,397
Inventory, net of allowances, customer advances and progress billings15,65114,33915,31816,83714,42214,243
Inventory15,65114,33915,31816,83714,42214,243
Contract with customer, asset, after allowance for credit loss3313229432
Disposal group, including discontinued operation     1783
Other undisclosed current assets1,2401,0752,1421,5811,7421,556
Total current assets:24,56123,63222,23323,15523,87526,018
Noncurrent Assets
Operating lease, right-of-use asset1,6261,7621,7491,8072,0011,531
Property, plant and equipment3,6203,7873,9454,1034,0134,062
Intangible assets, net (including goodwill)4,4184,6644,9315,1935,4695,743
Intangible assets, net (excluding goodwill)4,4184,6644,9315,1935,4695,743
Other noncurrent assets     213428
Total noncurrent assets:9,66410,21310,62511,10311,69611,764
TOTAL ASSETS:34,22533,84532,85834,25835,57137,782
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities4,0442,9296,3486,3094,6064,092
Taxes payable1,0591,0731,004
Accounts payable2,4591,2064,1014,1912,4602,084
Accrued liabilities1,5851,7232,2471,0591,0731,004
Deferred revenue309486164135441559
Debt 3,3433,139    
Disposal group, including discontinued operation     202271
Other undisclosed current liabilities4,2893,3912,4193,8893,0704,695
Total current liabilities:11,9859,9458,93110,3338,3199,617
Noncurrent Liabilities
Long-term debt and lease obligation:    1,5781,499944
Liabilities, other than long-term debt7641,038875929292
Deferred income tax liabilities412929929292
Operating lease, liability7231,0098461,5781,499944
Total noncurrent liabilities:7641,0388751,6701,5911,036
Total liabilities:12,74910,9839,80612,0039,91010,653
Equity
Equity, attributable to parent21,47622,86223,05222,25525,66127,129
Preferred stock37,77937,77937,77937,77937,77937,779
Common stock157157157157157157
Treasury stock, value (16,863)(16,863)(16,863)(16,863)(16,863)(16,863)
Additional paid in capital129,738129,630129,580129,450129,314129,162
Accumulated other comprehensive income (loss)34343433(1,584)(1,884)
Accumulated deficit(129,369)(127,875)(127,635)(128,301)(123,142)(121,222)
Total equity:21,47622,86223,05222,25525,66127,129
TOTAL LIABILITIES AND EQUITY:34,22533,84532,85834,25835,57137,782

Income Statement (P&L) ($ in thousands)

10/31/2023
Q3
7/31/2023
Q2
4/30/2023
Q1
1/31/2023
Q4
10/31/2022
Q3
7/31/2022
Q2
4/30/2022
Q1
Revenues8,75012,58615,7434,8848,7139,087
Cost of revenue
(Cost of Goods and Services Sold)
(5,483)(7,169)(8,705)(3,382)(5,175)(5,798)
Gross profit:3,2675,4177,0381,5023,5383,289
Operating expenses(4,815)(5,128)(5,207)(4,868)(5,089)(5,765)
Operating income (loss):(1,548)2891,831(3,366)(1,551)(2,476)
Nonoperating income (expense)131(111)(155)90(76)(118)
Other nonoperating income (expense)131(111)(155)90(76)(118)
Interest and debt expense164204    
Other undisclosed loss from continuing operations before equity method investments, income taxes   (850)   
Income (loss) from continuing operations before equity method investments, income taxes:(1,253)382826(3,276)(1,627)(2,594)
Other undisclosed income (loss) from continuing operations before income taxes(164)(204)850   
Income (loss) from continuing operations before income taxes:(1,417)1781,676(3,276)(1,627)(2,594)
Income tax expense(77)(418)(588)(37)(131)(211)
Income (loss) from continuing operations:(1,494)(240)1,088(3,313)(1,758)(2,805)
Loss before gain (loss) on sale of properties:(3,313)(1,758)(2,805)
Net income (loss):(1,494)(240)1,088(3,313)(1,758)(2,805)
Other undisclosed net income (loss) attributable to parent  (698)(1,846)(162)386
Net income (loss) attributable to parent:(1,494)(240)390(5,159)(1,920)(2,419)
Preferred stock dividends and other adjustments      (947)
Other undisclosed net loss available to common stockholders, basic(947)(947)(1,834)(947)(947) 
Net loss available to common stockholders, diluted:(2,441)(1,187)(1,444)(6,106)(2,867)(3,366)

Comprehensive Income ($ in thousands)

10/31/2023
Q3
7/31/2023
Q2
4/30/2023
Q1
1/31/2023
Q4
10/31/2022
Q3
7/31/2022
Q2
4/30/2022
Q1
Net income (loss):(1,494)(240)1,088(3,313)(1,758)(2,805)
Comprehensive income (loss):(1,494)(240)1,088(3,313)(1,758)(2,805)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent  3,154(229)138383
Comprehensive income (loss), net of tax, attributable to parent:(1,494)(240)4,242(3,542)(1,620)(2,422)

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.

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