Added to YB: 2024-06-21
Pitch date: 2024-06-20
MIND [neutral]
MIND Technology, Inc.
+107.33%
current return
Author Info
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Company Info
MIND Technology, Inc., together with its subsidiaries, provides technology to the oceanographic, hydrographic, defense, seismic, and maritime security industries in the United States, China, Norway, Turkey, Singapore, Canada, and internationally.
Market Cap
$113.9M
Pitch Price
$4.09
Price Target
N/A
Dividend
N/A
EV/EBITDA
12.65
P/E
5.62
EV/Sales
2.20
Sector
Energy Equipment and Services
Category
value
Mind Technology Q1 - 2025 Update
MIND: Marine tech co sees operating leverage despite slight Q1 sales dip. Gross margin 44%, costs falling. Profitable on EBITDA, EBIT & net income basis. Backlog down QoQ to $31M but up 70% YoY, expected to be processed in FY25. Inventory build could signal strong Q2 sales. Pref share conversion vote postponed, likely to fail. Makes common shares unattractive near-term. Prefs have downside risk but better R/R if sale or dividend reinstated. Waiting for clarity, small position. Clean start desired.
Read full article (6 min)