MIND Technology (MIND) Financial Statements & Analysis

MIND Technology (MIND) Income Statement

MIND Technology reported revenue of $40.95M in fiscal 2026 (fiscal year ended Jan 31, 2026), down 12.6% from $46.86M a year earlier. Net income was $750.00K, down 85.2% year over year, a net margin of 1.8%. Gross margin was 43.4% and operating margin 7.0%. In the most recent quarter, Q2 fiscal 2027 (ended Jul 31, 2026), revenue was $5.62M, down 58.5% from the same quarter a year earlier.

MIND Technology Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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MIND Technology, Inc. income statement - Annual data in millions USD
Breakdown	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2017
Period ending	Jan 2026	Jan 2025	Jan 2024	Jan 2023	Jan 2022	Jan 2021	Jan 2020	Jan 2019	Jan 2018
Revenue & Gross Profit
Revenue	40.95	46.86	36.51	25.01	23.11	21.22	21.22	48.28	41.00
Cost of Revenue	23.16	26.84	20.54	16.41	17.09	13.91	16.70	44.34	50.81
Gross Profit	17.79	20.02	15.97	8.61	6.02	7.31	4.51	3.94	-9.81
Operating Expenses
Research & Development	1.59	1.91	2.13	1.37	3.60	3.00	3.00	1.50	0.00
Selling, General & Administrative	13.35	11.29	12.14	12.88	14.76	13.31	13.31	20.68	21.48
Operating Expenses	14.93	13.21	15.45	14.26	20.57	19.11	16.31	22.18	21.48
Operating Income	2.86	6.82	0.52	-5.65	-14.54	-11.80	-11.80	-18.24	-31.29
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.05	0.01
Interest Expense	0.00	0.00	-0.68	0.52	0.00	0.00	0.00	0.00	0.65
Other Income/Expense	0.04	0.24	-0.28	0.26	0.93	0.11	-1.67	-1.92	-0.05
Income
Income Before Tax	2.90	7.06	0.24	-5.39	-13.62	-13.47	-13.47	-20.16	-31.34
Income Tax Expense	2.15	1.98	1.34	0.70	-0.04	0.54	0.54	0.91	1.81
Net Income	0.75	5.07	0.27	-8.83	-17.99	-20.31	-18.45	-21.07	-33.15
Net Income - Continuous Operations	0.75	5.07	-1.10	-8.83	-15.09	-15.09	-18.45	-21.07	-33.15
Net Income - Discontinued Operations	-	-	1.37	-2.74	-1.51	-	-	-	-
EBITDA	3.77	8.00	2.03	-3.53	-12.34	-9.70	-9.00	-1.61	-3.02
EBIT	2.86	6.82	0.52	-5.65	-14.54	-14.33	-	-	-
Depreciation & Amortization	0.87	0.94	1.18	1.34	2.21	2.80	2.80	16.64	28.28
Earnings Per Share
Basic EPS	-	1.00	-2.00	-9.00	-13.00	-18.00	-4.00	-17.00	-27.00
Diluted EPS	-	1.00	-2.00	-9.00	-12.00	-18.00	-4.00	-18.00	-28.00
Basic Shares Outstanding	9.04	7.97	1.41	5.51	1.38	1.25	5.19	4.83	4.83
Diluted Shares Outstanding	9.04	7.97	1.41	5.51	1.38	1.25	5.19	4.83	4.83

Source: Company financial statements from annual and quarterly filings. Data as of Jul 31, 2026. Data sources and methodology

Frequently Asked Questions About MIND Technology Financial Statements

What was MIND Technology's revenue in fiscal 2026?

MIND Technology reported revenue of $40.95M in fiscal 2026 (fiscal year ended Jan 31, 2026). That was down 12.6% from $46.86M a year earlier.

Is MIND Technology profitable?

Yes. MIND Technology earned net income of $750.00K in fiscal 2026, a net margin of 1.8%. In fiscal 2025 it earned $5.07M.

What is MIND Technology's operating margin?

MIND Technology's operating income was $2.86M on revenue of $40.95M in fiscal 2026, an operating margin of 7.0%, compared with 14.5% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition