MIND Technology, Inc. (MIND) Financial Statements (2023 and Earlier)

Company Profile

Business Address 2002 TIMBERLOCH PLACE, SUITE 400
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)

10/31/2021
TTM
1/31/2021
1/31/2020
1/31/2019
1/31/2018
1/31/2017
1/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 4,6113,0909,3899,9022,9023,769
Cash and cash equivalents 4,6113,0909,3899,9022,9023,769
Restricted cash and investments  144160244609 
Receivables 4,747     
Inventory, net of allowances, customer advances and progress billings 11,45313,26110,77410,85611,96012,944
Inventory 11,45313,26110,77410,85611,96012,944
Prepaid expense     1,5652,523
Contract with customer, asset 8513340
Disposal group, including discontinued operation 4,321 2,202   
Other undisclosed current assets 1,57414,11913,47712,04418,02321,460
Total current assets: 26,79130,62736,34233,04635,05940,696
Noncurrent Assets
Operating lease, right-of-use asset 1,4712,300
Nontrade receivables   1281,609  
Property, plant and equipment 4,75113,77714,15522,90043,83873,516
Long-term investments and receivables  4037124,6522,7804,972
Accounts and financing receivable, after allowance for credit loss  4037124,6522,7804,972
Intangible assets, net (including goodwill) 6,75010,69213,02610,54613,00914,621
Goodwill  2,5312,5312,5313,9974,155
Intangible assets, net (excluding goodwill) 6,7508,16110,4958,0159,01210,466
Disposal group, including discontinued operation, noncurrent assets   286   
Other noncurrent assets  42958492628368
Other undisclosed noncurrent assets   68  586
Total noncurrent assets: 12,97227,60128,95940,63359,65594,063
TOTAL ASSETS: 39,76358,22865,30173,67994,714134,759
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 5,1786,3445,4966,7826,4438,912
Accounts payable 1,7042,6501,5341,2711,9293,543
Accrued liabilities 2,9123,4523,7385,2534,5145,369
Taxes payable 562242224258  
Deferred revenue 208765
Debt  1,339  6,3713,218
Disposal group, including discontinued operation 1,442 892   
Deferred revenue and credits741651326
Contract with customer, liability1,040
Other undisclosed current liabilities 1,008     
Total current liabilities: 7,8368,4487,4287,52313,46512,456
Noncurrent Liabilities
Long-term debt and lease obligation 1,313961   17,266
Long-term debt, excluding current maturities 850    17,266
Operating lease, liability 463961
Liabilities, other than long-term debt 1981,1671,195 317 
Deferred tax liabilities, net  317 
Deferred income tax liabilities 198200
Other liabilities  9671,195   
Other undisclosed noncurrent liabilities    307  
Total noncurrent liabilities: 1,5112,1281,19530731717,266
Total liabilities: 9,34710,5768,6237,83013,78229,722
Stockholders' equity
Stockholders' equity attributable to parent 30,41647,65256,67865,84980,932105,037
Preferred stock 23,10422,10418,33011,5447,294 
Common stock 157141140140140140
Treasury stock, value (16,860)(16,860)(16,860)(16,860)(16,858)(16,854)
Additional paid in capital 128,241123,964123,085122,304121,401120,664
Accumulated other comprehensive loss (4,356)(4,387)(4,044)(8,854)(10,594)(12,101)
Retained earnings (accumulated deficit) (99,870)(77,310)(63,973)(42,425)(20,451)13,188
Total stockholders' equity: 30,41647,65256,67865,84980,932105,037
TOTAL LIABILITIES AND EQUITY: 39,76358,22865,30173,67994,714134,759

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

10/31/2021
TTM
1/31/2021
1/31/2020
1/31/2019
1/31/2018
1/31/2017
1/31/2016
Revenues 21,21542,67542,94248,27640,99951,819
Revenue, net7,82610,16123,710
Operating lease, lease income  11,206
Operating leases, income statement, lease revenue11,427
Cost of revenue
(Cost of Goods and Services Sold)
 (13,906)(26,054)(31,202)(42,192)(48,413)(49,150)
Gross profit: 7,30916,62111,7406,084(7,414)2,669
Operating expenses (21,637)(26,996)(24,760)(25,792)(23,876)(29,429)
Operating loss: (14,328)(10,375)(13,020)(19,708)(31,290)(26,760)
Nonoperating income (expense) 862(34)(6,568)(451)(49)(999)
Investment income, nonoperating   (5,405) 1014
Other nonoperating income (expense) 86212(24)(498)594(274)
Interest and debt expense     (653)(739)
Loss from continuing operations before equity method investments, income taxes: (13,466)(10,409)(19,588)(20,159)(31,992)(28,498)
Other undisclosed income from continuing operations before income taxes     653739
Loss from continuing operations before income taxes: (13,466)(10,409)(19,588)(20,159)(31,339)(27,759)
Income tax expense (536)(878)(252)(910)(1,814)(10,977)
Loss from continuing operations: (14,002)(11,287)(19,840)(21,069)(33,153)(38,736)
Loss from discontinued operations (1,859)     
Net loss: (15,861)(11,287)(19,840)(21,069)(33,153)(38,736)
Other undisclosed net loss attributable to parent (4,445)     
Net loss attributable to parent: (20,306)(11,287)(19,840)(21,069)(33,153)(38,736)
Preferred stock dividends and other adjustments (2,254)(2,050)(1,708)(905)(486) 
Net loss available to common stockholders, diluted: (22,560)(13,337)(21,548)(21,974)(33,639)(38,736)

Comprehensive Income ($ in thousands)

10/31/2021
TTM
1/31/2021
1/31/2020
1/31/2019
1/31/2018
1/31/2017
1/31/2016
Net loss: (15,861)(11,287)(19,840)(21,069)(33,153)(38,736)
Comprehensive loss: (15,861)(11,287)(19,840)(21,069)(33,153)(38,736)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent (6,668)(2,393)3,1028351,021(3,575)
Comprehensive loss, net of tax, attributable to parent: (22,529)(13,680)(16,738)(20,234)(32,132)(42,311)

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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