Mynd.ai, Inc. key statistics and ratios

In fiscal 2025, Mynd.ai, Inc. had an operating margin of -29.8% and a current ratio of 0.76. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Mynd.ai, Inc.: financial ratios, annual
Fiscal year	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	10.3%	15.6%	21.0%	16.4%	14.7%	−2.4%	31.0%	24.1%	24.4%	24.8%	21.0%
Operating margin	−1.3%	7.0%	6.6%	−1.9%	0.1%	−70.1%	2.5%	0.6%	−11.2%	−14.2%	−29.8%
Net margin	−0.8%	6.0%	5.1%	−1.1%	−1.3%	−87.9%	−0.2%	3.5%	−9.6%	−35.8%	−32.2%
Free-cash-flow margin	14.2%	21.9%	9.4%	−6.8%	0.3%	−24.8%	−5.2%	−1.0%	−0.7%	−0.2%	−27.2%
Return on equity	—	—	13.3%	−1.7%	−2.3%	−46.4%	−1.7%	20.0%	−30.8%	−130.2%	—
Return on assets	—	6.2%	4.3%	−0.8%	−0.8%	−11.7%	−0.4%	6.3%	−10.2%	−29.0%	−24.9%
Asset turnover	—	1.04	0.84	0.66	0.63	0.13	1.53	1.79	1.06	0.81	0.77
Current ratio	—	0.80	1.78	1.12	0.73	0.55	0.67	1.10	1.22	1.13	0.76
Debt to equity	—	0.0%	0.0%	0.0%	0.1%	0.0%	0.0%	38.5%	85.5%	280.5%	—
Interest cover (operating income ÷ interest)	—	—	—	—	—	—	64.0x	1.9x	n/m	n/m	n/m
Effective tax rate	—	26.2%	36.0%	—	—	—	20.7%	—	—	—	—
R&D as % of revenue	—	—	—	—	—	—	7.9%	7.1%	8.4%	9.4%	7.6%
Capital spending as % of revenue	14.6%	10.4%	8.5%	7.3%	6.9%	9.4%	0.3%	0.1%	0.1%	0.5%	0.1%
Free cash flow ÷ net income	—	365.1%	185.3%	—	—	—	—	−29.8%	—	—	—
Dividends and buybacks ÷ free cash flow	166.1%	—	—	—	>999%	—	—	—	—	—	—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

0 of 5 checks passed · December 31, 2025

What it owns · $183m

Short-term assets $84mLonger-term assets $98m

What it owes, and who funded it · $200m

Short-term liabilities $110mLonger-term liabilities $90mShareholders' equity $-18m

Short-term assets cover short-term liabilities $84m of assets due within a year against $110m of liabilities due within a year.
Short-term assets cover long-term liabilities $84m short-term assets against $90m of longer-dated liabilities.
More cash than debt $18m of cash against $64m of debt.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt −$46m of operating cash flow against $64m of debt.
Operating profit covers interest at least five times over Operating income of −$50m against $10m of interest.

From Mynd.ai, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Mynd.ai, Inc.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Mynd.ai, Inc.