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MIND Technology Balance Sheet 2026-2009 | MIND
Brief overview of MIND Technology's financial position
The balance sheet is assessed across five available annual reports spanning 2022 to 2026.
The balance sheet expanded from $42 million to $49.3 million. Growth of +17.2% and CAGR of 4.1% look measured and sustainable.
Growth in the asset base was not matched by liabilities: +17.2% versus -33.2%. The balance sheet moved in a more conservative direction.
Equity funds 84.1% of assets versus 72% initially. This creates a conservative balance sheet structure.
Cash exceeds interest-bearing debt, producing net debt of -$18 million. The balance sheet therefore carries a net cash position.
The cash share moved from 12.2% to 38.7%. A higher figure generally provides more room in an adverse scenario.
Retained earnings are negative at -$107.7 million. This reduces the formal capital cushion, although large shareholder returns may have contributed.
Balance sheet takeaway
MIND Technology's balance sheet looks resilient: assets are supported by substantial equity, while debt does not overwhelm financial flexibility.
Annual Balance Sheet MIND Technology
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-18 M | -4.02 M | -3.96 M | 971 K | -3.28 M | -3.14 M | -790 K | -9.39 M | -9.9 M | 3.47 M | 16.7 M | 21.2 M | 7.04 M | -10.8 M | -1.1 M | 11.9 M | - | - |
Long Term Debt |
406 K | 743 K | 573 K | 846 K | 966 K | 463 K | 961 K | - | - | - | 17.3 M | 23.1 M | 22.1 M | 4.24 M | 12.8 M | 23.3 M | - | - |
Long Term Debt Current |
686 K | 577 K | 751 K | 903 K | 869 K | 1.01 M | 1.34 M | - | - | 6.37 M | 3.22 M | 3.22 M | 75 K | 145 K | 1.4 M | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 2.13 M | 1.2 M | 307 K | 317 K | 17.3 M | 23.1 M | 22.5 M | 4.61 M | 18.8 M | 27.7 M | - | - |
Total Current Liabilities |
7.44 M | 8.64 M | 10.3 M | 8.93 M | 10.7 M | 7.84 M | 8.45 M | 7.43 M | 7.52 M | 13.5 M | 12.5 M | 10 M | 12.4 M | 9.48 M | 24 M | - | - | - |
Total Liabilities |
7.85 M | 9.39 M | 10.8 M | 9.81 M | 11.8 M | 9.35 M | 10.6 M | 8.62 M | 7.83 M | 13.8 M | 29.7 M | 33.1 M | 35 M | 14.1 M | 42.8 M | 43.3 M | - | - |
Deferred Revenue |
320 K | 189 K | 203 K | 144 K | 232 K | 208 K | 1.14 M | 1.74 M | 1.76 M | 651 K | 326 K | 710 K | 35 K | 539 K | 543 K | 778 K | - | - |
Retained Earnings |
-108 M | -108 M | -128 M | -128 M | -118 M | -99.9 M | -77.3 M | -64 M | -42.4 M | -20.5 M | 13.2 M | 51.9 M | 61.1 M | 56.3 M | 39.3 M | 15 M | - | - |
Total Assets |
49.3 M | 36.7 M | 33.5 M | 32.9 M | 42 M | 39.8 M | 58.2 M | 65.3 M | 73.7 M | 94.7 M | 135 M | 180 M | 205 M | 190 M | 198 M | 138 M | - | - |
Cash and Cash Equivalents |
19 M | 5.34 M | 5.29 M | 778 K | 5.11 M | 4.61 M | 3.09 M | 9.39 M | 9.9 M | 2.9 M | 3.77 M | 5.18 M | 15.2 M | 15.2 M | 15.3 M | 14.6 M | 6.13 M | 5.06 M |
Book Value |
41.4 M | 27.3 M | 22.6 M | 23.1 M | 30.3 M | 30.4 M | 47.7 M | 56.7 M | 65.8 M | 80.9 M | 105 M | 146 M | 170 M | 176 M | 155 M | 94.7 M | - | - |
Total Shareholders Equity |
41.4 M | 27.3 M | 22.6 M | 23.1 M | 30.3 M | 30.4 M | 47.7 M | 56.7 M | 65.8 M | 80.9 M | 105 M | 146 M | 170 M | 176 M | 155 M | 94.7 M | 85 M | 77.1 M |
All numbers in USD currency
Quarterly Balance Sheet MIND Technology
| 2027-Q1 | 2026-Q3 | 2026-Q2 | 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
255 K | 585 K | 366 K | 651 K | 866 K | 366 K | 651 K | 743 K | 866 K | 985 K | 997 K | 573 K | 684 K | 723 K | 1.01 M | 846 K | 1.58 M | 1.5 M | 944 K | 463 K | 1.12 M | 1 M | 473 K | 961 K | 1.08 M | 1.02 M | 991 K | - | 2.09 M | 2.02 M | 2.16 M | - | - | - | - | - | - | - | - | 17.3 M | 8.68 M | 6.26 M | 14.5 M | 23.1 M | 9.19 M | 11.2 M | 17.4 M | 22.1 M | 32.1 M | 25.1 M | 15.1 M | 4.24 M | 3.14 M | 139 K | 2.2 M | 12.8 M | 13.5 M | 12.5 M | 19.4 M | 23.3 M | 4.22 M | 1.08 M | - |
Total Liabilities |
9.24 M | 7.4 M | 6.99 M | 9.59 M | 10.9 M | 6.99 M | 9.59 M | 9.39 M | 10.9 M | 13.3 M | 11.2 M | 10.8 M | 8.63 M | 12.7 M | 11 M | 9.81 M | 12 M | 9.91 M | 10.7 M | 9.35 M | 10.4 M | 8.73 M | 8.95 M | 10.6 M | 9.84 M | 9.8 M | 10.7 M | 8.62 M | 12.4 M | 11 M | 10.4 M | 7.83 M | 8.28 M | 8.16 M | 9.51 M | 13.8 M | 6.65 M | 6.92 M | 7.33 M | 29.7 M | 13.7 M | 14.9 M | 25.2 M | 33.1 M | 19.9 M | 20.5 M | 29.1 M | 35 M | 45.8 M | 37.9 M | 21.3 M | 14.1 M | 15.1 M | 8.66 M | 10.9 M | 42.8 M | 21.7 M | 21.1 M | 38.9 M | 43.3 M | 41.6 M | 26 M | - |
Deferred Revenue |
598 K | 170 K | 359 K | 514 K | 248 K | 359 K | 514 K | 189 K | 248 K | 428 K | 561 K | 203 K | 130 K | 309 K | 486 K | 164 K | 135 K | 441 K | 559 K | 208 K | 314 K | 459 K | 563 K | 731 K | 205 K | 370 K | 602 K | 1.04 M | 210 K | 405 K | 616 K | 741 K | 156 K | 460 K | 723 K | 651 K | 236 K | 455 K | 560 K | 326 K | 178 K | 351 K | 486 K | 710 K | 370 K | 481 K | 661 K | 35 K | 179 K | 667 K | 793 K | 539 K | 497 K | 653 K | 1.13 M | 543 K | 925 K | 1.02 M | 522 K | 778 K | 1.79 M | 1.79 M | - |
Retained Earnings |
-108 M | -107 M | -107 M | -109 M | -110 M | -107 M | -109 M | -108 M | -110 M | -127 M | -127 M | -128 M | -130 M | -129 M | -128 M | -128 M | -128 M | -123 M | -121 M | -99.9 M | -111 M | -108 M | -104 M | -77.3 M | -95.8 M | -91.7 M | -84.5 M | -64 M | -73 M | -70.5 M | -66.9 M | -42.4 M | -59.4 M | -53.7 M | -48.7 M | -20.5 M | -34.4 M | -28.9 M | -23.3 M | 13.2 M | -10.4 M | -2.9 M | 6.74 M | 51.9 M | 40 M | 45.8 M | 51.7 M | 61.1 M | 61.1 M | 61.5 M | 64.9 M | 56.3 M | 59.3 M | 62 M | 62.7 M | 39.3 M | 52.9 M | 54.2 M | 47.8 M | 15 M | 29.1 M | 22.4 M | - |
Total Assets |
50.8 M | 47.3 M | 35.8 M | 36.2 M | 36.1 M | 35.8 M | 36.2 M | 36.7 M | 36.1 M | 37.8 M | 34.9 M | 33.5 M | 29.8 M | 34.2 M | 33.8 M | 32.9 M | 34.3 M | 35.6 M | 37.8 M | 39.8 M | 35.3 M | 36 M | 35.5 M | 58.2 M | 40.8 M | 43.5 M | 51.2 M | 65.3 M | 62.5 M | 63 M | 64.3 M | 73.7 M | 68.5 M | 68.1 M | 72.7 M | 94.7 M | 76.8 M | 81.6 M | 85.8 M | 135 M | 104 M | 114 M | 126 M | 180 M | 153 M | 160 M | 178 M | 205 M | 207 M | 209 M | 195 M | 190 M | 189 M | 184 M | 191 M | 198 M | 194 M | 193 M | 205 M | 138 M | 185 M | 164 M | - |
Cash and Cash Equivalents |
17.7 M | 19.4 M | 7.83 M | 9.17 M | 3.5 M | 7.83 M | 9.17 M | 5.34 M | 3.5 M | 1.9 M | 924 K | 5.29 M | 5.57 M | 494 K | 815 K | 778 K | 812 K | 833 K | 817 K | 4.61 M | 622 K | 2.06 M | 2 M | 3.09 M | 2.66 M | 2.64 M | 4.7 M | 9.39 M | 4.65 M | 7.49 M | 7.99 M | 9.9 M | 5.41 M | 6.89 M | 8.61 M | 2.9 M | 6.54 M | 6.92 M | 2.05 M | 3.77 M | 3.23 M | 3.5 M | 2.36 M | 5.18 M | 4.57 M | 2.8 M | 6.23 M | 15.2 M | 9.07 M | 9.43 M | 11.7 M | 15.2 M | 24.2 M | 20.3 M | 16.5 M | 15.3 M | 24 M | 21.5 M | 17.4 M | 14.6 M | 15.9 M | 15.3 M | 14.6 M |
Book Value |
41.5 M | 39.9 M | 28.8 M | 26.6 M | 25.2 M | 28.8 M | 26.6 M | 27.3 M | 25.2 M | 24.5 M | 23.6 M | 22.6 M | 21.2 M | 21.5 M | 22.9 M | 23.1 M | 22.3 M | 25.7 M | 27.1 M | 30.4 M | 24.9 M | 27.3 M | 26.6 M | 47.7 M | 31 M | 33.7 M | 40.6 M | 56.7 M | 50.1 M | 52 M | 53.9 M | 65.8 M | 60.3 M | 60 M | 63.2 M | 80.9 M | 70.1 M | 74.7 M | 78.4 M | 105 M | 90.7 M | 98.9 M | 101 M | 146 M | 134 M | 139 M | 149 M | 170 M | 161 M | 171 M | 174 M | 176 M | 173 M | 175 M | 180 M | 155 M | 172 M | 172 M | 166 M | 94.7 M | 143 M | 138 M | - |
Total Shareholders Equity |
41.5 M | 39.9 M | 28.8 M | 26.6 M | 25.2 M | 28.8 M | 26.6 M | 27.3 M | 25.2 M | 24.5 M | 23.6 M | 22.6 M | 21.2 M | 21.5 M | 22.9 M | 23.1 M | 22.3 M | 25.7 M | 27.1 M | 30.4 M | 24.9 M | 27.3 M | 26.6 M | 47.7 M | 31 M | 33.7 M | 40.6 M | 56.7 M | 50.1 M | 52 M | 53.9 M | 65.8 M | 60.3 M | 60 M | 63.2 M | 80.9 M | 70.1 M | 74.7 M | 78.4 M | 105 M | 90.7 M | 98.9 M | 101 M | 146 M | 134 M | 139 M | 149 M | 170 M | 161 M | 171 M | 174 M | 176 M | 173 M | 175 M | 180 M | 155 M | 172 M | 172 M | 166 M | 94.7 M | 143 M | 138 M | - |
All numbers in USD currency
Balance Sheet is a fundamental financial report of MIND Technology, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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