Growth & profitability
- Revenue has grown 14.1% per year over the past 5 years.
- Operating margin has expanded, at 7.0% in the latest year.
MIND Financials MIND TECHNOLOGY, INC
15 years of revenue, profit, cash flow and balance-sheet history through FY2026, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2026 | $41M | $750000 | 45.6% | 7.0% | $2M | — | $19M |
| 2025 | $47M | $18M | 44.7% | 14.5% | $214000 | — | $5M |
| 2024 | $37M | -$4M | 43.7% | 1.4% | -$5M | — | $5M |
| 2023 | $25M | -$9M | 39.8% | -22.6% | -$3M | — | $778000 |
| 2022 | $23M | -$15M | 26.1% | -62.9% | -$18M | — | $5M |
| 2021 | $21M | -$20M | 34.5% | -67.5% | -$6M | — | $5M |
| 2020 | $30M | -$11M | 43.3% | -21.0% | -$7M | — | $3M |
| 2019 | $26M | -$20M | 45.6% | -50.5% | -$6M | — | $9M |
| 2018 | $0 | -$21M | — | — | $312000 | $0 | $10M |
| 2017 | — | -$33M | — | — | $3M | $6M | $3M |
| 2016 | — | -$39M | — | — | $15M | $20M | $4M |
| 2015 | — | -$9M | — | — | — | $26M | $5M |
| 2014 | — | $5M | — | — | $21M | $22M | $15M |
| 2013 | — | $17M | — | — | $43M | $4M | $15M |
| 2012 | — | $24M | — | — | $34M | $13M | $15M |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Apr '26 | $10M | -$411000 | 42.4% | 0.1% | -$1M | — | $18M |
| Jan '26 | $10M | -$271000 | 40.7% | 0.8% | -$1M | — | $19M |
| Oct '25 | $10M | $62000 | 46.6% | 8.0% | $801000 | — | $19M |
| Jul '25 | $14M | $2M | 50.4% | 19.6% | -$1M | — | $8M |
| Apr '25 | $8M | -$970000 | 42.2% | -8.3% | $4M | — | $9M |
| Jan '25 | $15M | $2M | 43.5% | 18.5% | $2M | — | $5M |
| Oct '24 | $12M | $1M | 44.8% | 15.5% | $2M | — | $4M |
| Jul '24 | $10M | $798000 | 47.6% | 14.2% | $978000 | — | $2M |
| Apr '24 | $10M | $954000 | 43.6% | 7.5% | -$5M | — | $924000 |
| Jan '24 | $13M | $1M | 46.7% | 17.3% | $566000 | — | $5M |
| Oct '23 | $5M | $568000 | 45.3% | -29.2% | -$2M | — | $6M |
| Jul '23 | $8M | -$1M | 38.9% | -10.1% | -$535000 | — | $494000 |
| Apr '23 | $11M | -$240000 | 42.8% | 4.0% | -$3M | — | $815000 |
| Jan '23 | $9M | $666000 | 48.0% | 6.7% | -$693000 | — | $778000 |
| Oct '22 | $3M | -$5M | 28.4% | -95.6% | -$35000 | — | $812000 |
| Jul '22 | $9M | -$2M | 40.6% | -17.8% | $882000 | — | $833000 |
| Apr '22 | $9M | -$2M | 36.2% | -27.2% | -$4M | — | $817000 |
| Jan '22 | $4M | -$6M | 2.3% | -135.6% | -$7M | — | $5M |
| Oct '21 | $8M | -$3M | 38.0% | -24.6% | -$4M | — | $622000 |
| Jul '21 | $7M | -$3M | 32.7% | -38.2% | -$4M | — | $2M |
Valuation over time
How the market has priced MIND against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has risen from 4.8× (Jan '25) to 58.7× (Jun '26).
- The price-to-sales ratio has risen from 0.2× (Mar '23) to 1.1× (Jun '26).
P/E
P/S
Frequently asked questions
Is MIND growing its revenue and profit?
Over the past 5 years, MIND TECHNOLOGY, INC's revenue has grown 14.1% per year. These are computed facts, not advice.
How much debt does MIND have?
As of FY2026, MIND TECHNOLOGY, INC reported — of total debt against $19M of cash.
What is MIND's profit margin?
In FY2026, gross margin was 45.6%, operating margin 7.0%, and net margin 1.8%.
What is MIND's P/E ratio?
As of Jun '26, MIND TECHNOLOGY, INC traded at a price-to-earnings ratio of about 58.7× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.