MIND Technology, Inc. (MIND) Income Statement
MIND FY2026 at a glance
Fiscal year ended January 31, 2026 · U.S. dollarsMIND revenue and net income
Where MIND's revenue goes
FY2026Each bar shows an amount and its share of revenue. MIND kept 1.8% of revenue as net income.
MIND profit margins
MIND growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −12.6% | +17.9% | +14.1% | −2.3% |
| Gross profit | −11.1% | +27.4% | +31.6% | +60.4% |
| Operating income | −58.1% | — | — | — |
| Net income | −85.2% | — | — | — |
| EPS (diluted) | −96.7% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MIND quarterly EPS vs estimates
MIND Technology beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: December 8, 2026 (estimate $-0.14).
MIND income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $40.9M | $46.9M | $36.5M | $25.0M | $23.1M | $21.2M | $29.9M | $42.9M | $48.3M | $41.0M |
| Cost of revenue | $23.2M | $26.8M | $21.7M | $16.4M | $19.3M | $16.7M | $19.5M | $33.7M | $44.3M | $50.8M |
| Gross profit | $17.8M | $20.0M | $14.8M | $8.6M | $3.8M | $4.5M | $10.5M | $9.2M | $3.9M | −$9.8M |
| Research & development | $1.6M | $1.9M | $2.1M | $1.4M | $3.6M | $3.0M | $1.9M | $1.2M | $1.5M | $974,000 |
| Sales, general & admin | $13.3M | $11.3M | $12.1M | $15.3M | $14.8M | $12.6M | $19.7M | $20.9M | $19.7M | $20.7M |
| Total operating expenses | $14.9M | $13.2M | $14.3M | $14.3M | $18.4M | $16.3M | $16.0M | $23.5M | $22.2M | $21.5M |
| Operating income | $2.9M | $6.8M | $518,000 | −$5.7M | −$14.5M | −$11.8M | −$5.5M | −$14.2M | −$18.2M | −$31.3M |
| Interest income | — | — | — | — | — | — | $46,000 | $72,000 | $47,000 | $10,000 |
| Interest expense | — | — | $675,000 | $519,000 | $926,000 | $10.5M | $46,000 | $72,000 | $47,000 | $653,000 |
| Income before taxes | $2.9M | $7.1M | $238,000 | −$5.4M | −$13.6M | −$13.5M | −$6.2M | −$19.6M | −$20.2M | −$31.3M |
| Income taxes | $2.2M | $2.0M | $1.3M | $699,000 | −$39,000 | $536,000 | $353,000 | $252,000 | $910,000 | $1.8M |
| Net income | $750,000 | $5.1M | −$2.1M | −$8.8M | −$15.1M | −$18.4M | −$11.3M | −$19.8M | −$21.1M | −$33.2M |
| EBITDA | $3.8M | $8.0M | $2.1M | −$3.0M | −$11.4M | −$9.0M | $2.2M | −$2.4M | −$1.6M | −$3.0M |
| EPS (diluted) | $0.10 | $3.02 | −$4.24 | −$7.52 | −$8.73 | −$8.53 | −$7.62 | −$10.28 | −$11.97 | −$20.33 |
| Gross margin | 43.4% | 42.7% | 40.5% | 34.4% | 16.5% | 21.3% | 35.0% | 21.5% | 8.2% | −23.9% |
| Operating margin | 7.0% | 14.5% | 1.4% | −22.6% | −62.9% | −55.6% | −18.5% | −33.1% | −37.8% | −76.3% |
| Net margin | 1.8% | 10.8% | −5.7% | −35.3% | −65.3% | −87.0% | −37.7% | −46.2% | −43.6% | −80.9% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.6M | $9.7M | $9.8M | $9.7M | $13.6M | $7.9M | $15.0M | $12.1M | $10.0M | $9.7M | $13.4M | $5.0M |
| Cost of revenue | $3.8M | $5.6M | $6.0M | $5.4M | $6.9M | $4.8M | $8.7M | $6.9M | $5.5M | $5.7M | $7.4M | $3.0M |
| Gross profit | $1.9M | $4.1M | $3.8M | $4.3M | $6.6M | $3.1M | $6.3M | $5.2M | $4.5M | $4.0M | $6.0M | $2.0M |
| Research & development | $407,000 | $310,000 | $389,000 | $506,000 | $311,000 | $380,000 | $562,000 | $562,000 | $328,000 | $462,000 | $654,000 | $508,000 |
| Sales, general & admin | $3.3M | $3.5M | $3.3M | $3.0M | $3.6M | $3.4M | $3.0M | $2.8M | $2.8M | $2.8M | $3.0M | $2.9M |
| Total operating expenses | $3.7M | $4.1M | $3.7M | $3.5M | $3.9M | $3.8M | $3.5M | $3.3M | $3.1M | $3.2M | $3.6M | $3.4M |
| Operating income | −$1.8M | $14,000 | $78,000 | $774,000 | $2.7M | −$658,000 | $2.8M | $1.9M | $1.4M | $730,000 | $2.3M | −$1.5M |
| Interest expense | — | — | — | — | — | — | — | $0 | $0 | $1.6M | $1.6M | $169,000 |
| Income before taxes | −$1.7M | $65,000 | $200,000 | $778,000 | $2.6M | −$676,000 | $2.7M | $1.7M | $1.5M | $1.2M | $2.2M | −$1.6M |
| Income taxes | $18,000 | $476,000 | $471,000 | $716,000 | $670,000 | $294,000 | $671,000 | $396,000 | $672,000 | $245,000 | $748,000 | $112,000 |
| Net income | −$1.7M | −$411,000 | −$271,000 | $62,000 | $1.9M | −$970,000 | $2.0M | $1.3M | $798,000 | $954,000 | $1.5M | −$1.8M |
| EBITDA | −$1.6M | $293,000 | $419,000 | $990,000 | $2.8M | −$451,000 | $2.9M | $1.9M | $1.7M | $1.5M | $4.1M | −$1.1M |
| EPS (diluted) | −$0.19 | −$0.05 | −$0.03 | $0.01 | $0.24 | −$0.12 | $0.25 | $2.87 | −$0.11 | $0.01 | $0.35 | −$1.89 |
| Gross margin | 33.2% | 42.4% | 38.5% | 44.4% | 48.8% | 39.3% | 42.1% | 43.0% | 45.3% | 40.8% | 44.5% | 40.1% |
| Operating margin | −31.9% | 0.1% | 0.8% | 8.0% | 19.6% | −8.3% | 18.5% | 15.5% | 14.2% | 7.5% | 17.3% | −29.2% |
| Net margin | −30.8% | −4.2% | −2.8% | 0.6% | 14.2% | −12.3% | 13.5% | 10.7% | 8.0% | 9.9% | 11.1% | −36.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MIND's financial statements (latest annual report filed April 20, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MIND financial results
In fiscal year 2026 (ended January 31, 2026), MIND Technology reported revenue of $40.9 million, down 12.6% from the year before. It had net income of $0.8 million (down 85.2%), a net profit margin of 1.8%. Diluted earnings per share came to $0.10. Over five years revenue grew at an average rate of 14.1% a year.
See the MIND stock overview for the latest quote and news, or the MIND chart for price history and technical indicators.
MIND income statement FAQ
What is MIND Technology's annual revenue?
MIND Technology reported total revenue of $40.9 million for fiscal year 2026, which ended on January 31, 2026. That was down 12.6% from $46.9 million the previous year.
Is MIND Technology profitable?
Yes. MIND Technology reported net income of $0.8 million in fiscal 2026, a net profit margin of 1.8%; its operating margin was 7.0%.
What is MIND Technology's gross margin?
MIND Technology's gross margin was 43.4% in fiscal 2026: for every $100 of revenue, MIND Technology kept $43 after the direct cost of its products and services.
How much does MIND Technology spend on research and development?
MIND Technology spent $1.6 million on research and development in fiscal 2026, 3.9% of revenue.
How fast is MIND Technology growing?
Revenue grew 14.1% a year on average over the last five fiscal years, from $21.2 million to $40.9 million.
What are MIND Technology's earnings per share?
MIND Technology earned $0.10 per diluted share in fiscal 2026, compared with $3.02 a year earlier.
When will MIND Technology report its next earnings?
MIND Technology is expected to report results for the quarter ending October 31, 2026 on December 8, 2026 after the market closes.
When does MIND Technology's fiscal year end?
MIND Technology's fiscal year ends in January. The latest annual report covers the year ended January 31, 2026 and was filed on April 20, 2026.