Mind Technology, Inc income statement
In fiscal 2026, Mind Technology, Inc reported revenue of $40.9m, down 12.6% on the year before, operating income of $2.9m (a 7.0% margin) and net income of $750,000. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2010Jan 2010 | 2011Jan 2011 | 2012Jan 2012 | 2013Jan 2013 | 2014Jan 2014 | 2015Jan 2015 | 2016Jan 2016 | 2017Jan 2017 | 2018Jan 2018 | 2019Jan 2019 | 2020Jan 2020 | 2021Jan 2021 | 2022Jan 2022 | 2023Jan 2023 | 2024Jan 2024 | 2025Jan 2025 | 2026Jan 2026 | LTMJul 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 55 | 71 | 113 | 105 | 92 | 83 | 52 | 41 | 48 | 43 | 43 | 21 | 23 | 25 | 37 | 47 | 41 | 35 |
| Cost of revenue | 37 | 45 | 55 | 67 | 60 | 60 | 49 | 48 | 42 | 31 | 26 | — | — | — | — | — | — | — |
| Gross profit | 18 | 27 | 58 | 37 | 32 | 23 | 3 | −7 | 6 | 12 | 13 | 7 | 6 | 10 | 16 | 21 | 19 | 15 |
| Research and development | — | — | — | — | — | — | 1 | 1 | 2 | 1 | 2 | 3 | 4 | 1 | 2 | 2 | 2 | 2 |
| Selling, general and administrative | — | — | — | — | — | — | 18 | 20 | 20 | 21 | 14 | 13 | 15 | 13 | 12 | 11 | 13 | 13 |
| General and administrative | 15 | 17 | 21 | 23 | 24 | 25 | — | — | — | — | — | — | — | — | — | — | — | — |
| Operating income | 1 | 7 | 35 | 14 | 6 | −7 | −27 | −31 | −20 | −13 | −6 | −14 | −15 | −6 | 1 | 7 | 3 | −1 |
| Interest expense | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | — | — | — | — | — | — | — | — | — | — |
| Net interest income | — | — | −0 | 0 | −0 | −1 | −1 | −1 | 0 | 0 | −0 | — | — | — | — | — | — | — |
| Income before tax | 1 | 7 | 34 | 14 | 6 | −10 | −28 | −31 | −20 | −20 | −6 | −13 | −14 | −5 | 0 | 7 | 3 | −1 |
| Income tax | 0 | 2 | 10 | −4 | 1 | −1 | 11 | 2 | 1 | 0 | 0 | 1 | −0 | 1 | 1 | 2 | 2 | 2 |
| Net income | 1 | 5 | 24 | 17 | 5 | −9 | −39 | −33 | −21 | −20 | −11 | −20 | −15 | −9 | 0 | 5 | 1 | −2 |
| Diluted EPS | $0.08 | $0.77 | $0.03 | $0.02 | $0.01 | −$0.01 | −$0.05 | −$0.05 | −$0.03 | −$0.03 | −$0.02 | −$0.03 | −$0.02 | −$0.15 | — | — | — | −$0.26 |
| Diluted shares (average) | 6m | 6m | 7m | 8m | 8m | 7m | 7m | 7m | 7m | 7m | 7m | 8m | 8m | 8m | 8m | 8m | 8m | 9m |
| EBITDA | 2 | 8 | 36 | 15 | 7 | −5 | −24 | −29 | −18 | −11 | −4 | −12 | −12 | −4 | 2 | 8 | 4 | −0 |
| Quarter | 2025 Q3Oct 2024 | 2025 Q4Jan 2025 | 2026 Q1Apr 2025 | 2026 Q2Jul 2025 | 2026 Q3Oct 2025 | 2026 Q4Jan 2026 | 2027 Q1Apr 2026 | 2027 Q2Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 12 | 15 | 8 | 14 | 10 | 10 | 10 | 6 |
| Gross profit | 5 | 7 | 3 | 7 | 5 | 4 | 4 | 2 |
| Research and development | 1 | 1 | 0 | 0 | 1 | 0 | 0 | 0 |
| Selling, general and administrative | 3 | 3 | 3 | 4 | 3 | 3 | 4 | 3 |
| Operating income | 2 | 3 | −1 | 3 | 1 | 0 | 0 | −2 |
| Interest expense | 0 | — | — | — | — | — | — | — |
| Income before tax | 2 | 3 | −1 | 3 | 1 | 0 | 0 | −2 |
| Income tax | 0 | 1 | 0 | 1 | 1 | 0 | 0 | 0 |
| Net income | 1 | 2 | −1 | 2 | 0 | −0 | −0 | −2 |
| EBITDA | 2 | 3 | −0 | 3 | 1 | 0 | 0 | −2 |
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