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
MRQ
1/31/2023
10/31/2022
MRQ
1/31/2022
1/31/2021
1/31/2020
1/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments778 5,1144,6113,0909,389
Cash and cash equivalents778 5,1144,6113,0909,389
Restricted cash and investments     144160
Receivables3,993 8,1264,747  
Inventory, net of allowances, customer advances and progress billings15,318 14,00611,45313,26110,774
Inventory15,318 14,00611,45313,26110,774
Contract with customer, asset, after allowance for credit loss2 288513340
Disposal group, including discontinued operation   1594,321 2,202
Other undisclosed current assets2,142 1,8121,57414,11913,477
Total current assets:22,233 29,24526,79130,62736,342
Noncurrent Assets
Operating lease, right-of-use asset1,749 1,8351,4712,300
Nontrade receivables      128
Property, plant and equipment3,945 4,2724,75113,77714,155
Long-term investments and receivables     403712
Accounts and financing receivable, after allowance for credit loss     403712
Intangible assets, net (including goodwill)4,931 6,0186,75010,69213,026
Goodwill     2,5312,531
Intangible assets, net (excluding goodwill)4,931 6,0186,7508,16110,495
Disposal group, including discontinued operation, noncurrent assets      286
Other noncurrent assets   650 429584
Other undisclosed noncurrent assets      68
Total noncurrent assets:10,625 12,77512,97227,60128,959
TOTAL ASSETS:32,858 42,02039,76358,22865,301
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities6,348 4,3865,1786,3445,496
Interest and dividends payable947   
Taxes payable837562242224
Employee-related liabilities556   
Accounts payable4,101 2,0461,7042,6501,534
Accrued liabilities2,247  2,9123,4523,738
Deferred revenue164 232208765
Debt     1,339 
Disposal group, including discontinued operation   9531,442 892
Contract with customer, liability1,040
Other undisclosed current liabilities2,419 5,1281,008  
Total current liabilities:8,931 10,6997,8368,4487,428
Noncurrent Liabilities
Long-term debt and lease obligation   9661,313961 
Long-term debt, excluding current maturities    850  
Liabilities, other than long-term debt875 921981,1671,195
Deferred income tax liabilities29 92198200
Other liabilities     9671,195
Operating lease, liability846 966463961
Total noncurrent liabilities:875 1,0581,5112,1281,195
Total liabilities:9,806 11,7579,34710,5768,623
Equity
Equity, attributable to parent23,052 30,26330,41647,65256,678
Preferred stock37,779 37,77923,10422,10418,330
Common stock157 157157141140
Treasury stock, value (16,863) (16,862)(16,860)(16,860)(16,860)
Additional paid in capital129,580 128,926128,241123,964123,085
Accumulated other comprehensive income (loss)34 (1,881)(4,356)(4,387)(4,044)
Accumulated deficit(127,635) (117,856)(99,870)(77,310)(63,973)
Total equity:23,052 30,26330,41647,65256,678
TOTAL LIABILITIES AND EQUITY:32,858 42,02039,76358,22865,301

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

10/31/2023
TTM
1/31/2023
10/31/2022
TTM
1/31/2022
1/31/2021
1/31/2020
1/31/2019
Revenues35,091 23,10721,21542,67542,942
Operating leases, income statement, lease revenue11,427
Operating lease, lease income     11,206
Cost of revenue
(Cost of Goods and Services Sold)
(22,116) (17,085)(13,906)(26,054)(31,202)
Gross profit:12,975 6,0227,30916,62111,740
Operating expenses(20,589) (20,566)(21,637)(26,996)(24,760)
Operating loss:(7,614) (14,544)(14,328)(10,375)(13,020)
Nonoperating income (expense)882 926862(34)(6,568)
Investment income, nonoperating      (5,405)
Other nonoperating income (expense)882 92686212(24)
Interest and debt expense  850   
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Loss from continuing operations before equity method investments, income taxes:(6,732) (12,768)(13,466)(10,409)(19,588)
Other undisclosed income (loss) from continuing operations before income taxes  (850)   
Loss from continuing operations before income taxes:(6,732) (13,618)(13,466)(10,409)(19,588)
Income tax expense (benefit)(699) 39(536)(878)(252)
Loss from continuing operations:(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)
Loss from discontinued operations    (1,859)  
Net loss:(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 loss attributable to parent:(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 loss available to common stockholders, basic(3,788)     
Net loss available to common stockholders, diluted:(12,620) (17,986)(22,560)(13,337)(21,548)

Comprehensive Income ($ in thousands)

10/31/2023
TTM
1/31/2023
10/31/2022
TTM
1/31/2022
1/31/2021
1/31/2020
1/31/2019
Net loss:(7,431) (13,579)(15,861)(11,287)(19,840)
Comprehensive loss:(7,431) (13,579)(15,861)(11,287)(19,840)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent514 (1,932)(6,668)(2,393)3,102
Comprehensive income (loss), net of tax, attributable to parent:(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.

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