Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Mynd.ai, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
109
141
156
182
42.4
448
585
412
267
168
Cost of revenue
91.6
111
131
156
43.4
309
444
311
201
133
Gross profit
16.9
29.5
25.6
26.7
-1.02
139
141
100
66.2
35.3
Research and development
35.6
41.5
34.6
25.3
12.8
Selling and marketing
60.5
60.8
51.5
42.1
38.9
General and administrative
7.42
18.4
26.4
23.8
17.4
31.3
34.6
31
33.4
26.5
Operating expenses
9.35
20.2
28.7
26.6
28.7
128
138
147
104
85.4
Operating income
7.55
9.33
-3.03
0.17
-29.7
11.1
3.43
-46
-38
-50.1
Interest expense
0.17
1.83
4.66
10.4
10.1
Interest income
0.11
0.56
2.15
0.86
0.26
0.08
0.05
0.22
2.66
0.83
Other non-operating income
-2.42
3.69
-2.41
2.29
-4.36
Pre-tax income
8.23
10.6
1.04
2.02
-28.1
8.65
7.12
-48.4
-35.7
-54.5
Income tax
2.16
3.81
2.46
3.54
-1.44
1.79
-26
-9.66
68.7
-0.38
Income from continuing operations
6.86
33.1
-38.8
-104
-54.1
Net income to minority interests
-0.62
-0.57
-0.09
0.39
-3.9
0.19
0
0.03
-0.03
0
Net income
6.51
7.12
-1.79
-2.43
-37.3
-1.1
20.5
-39.4
-95.7
-54.1
EBITDA
12.4
15.4
4.5
9.46
-20.5
17.2
7.95
-41.1
-32.3
-41.1
EPS, basic
0.28
0.29
-0.06
-0.09
-1.33
0.00
0.05
-0.09
-0.21
-0.12
EPS, diluted
0.26
0.27
-0.06
-0.09
-1.33
0.00
0.05
-0.09
-0.21
-0.12
Shares, basic (weighted)
23.2
24.7
29.2
28.1
28.1
426
426
428
456
457
Shares, diluted (weighted)
24.7
26.6
29.2
28.1
28.1
426
426
428
456
457
Balance sheet
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
46.3
159
104
68.7
53.5
33.3
29.3
87.8
75.3
18.5
Receivables
1.02
0.9
0.88
2.8
1.84
1.28
61.1
63.7
30.5
24.8
Inventory
3.04
3.55
4.81
7.26
5.77
6.13
111
53.9
28.6
29.7
Other current assets
0.83
1
1.78
1.99
2.33
0.48
2.93
4.05
3.62
3.18
Total current assets
64
173
122
91.6
70.1
82.3
228
227
148
84.1
Property, plant and equipment
29.4
40.2
45.9
50.1
47.6
6.4
3
7.04
14.6
11.8
Lease right-of-use assets
83.4
87.5
24.8
3.11
2.41
3.45
2.07
Goodwill
0.4
0.43
25.1
52.7
34.3
34.3
42
46.9
44.1
45
Intangible assets
4.49
17.7
14.2
11.1
48
43.7
39.5
36.2
Long-term investments
0.38
0.26
4.81
5.24
0.22
0.17
0.25
Other non-current assets
2.91
3.11
24
16.5
14.4
4.19
0.11
1.81
3.27
3.35
Total assets
104
230
243
336
302
283
369
407
253
183
Accounts payable
59.1
40.5
37.9
Accrued liabilities
8.98
14.8
16.2
11.5
9.53
4.09
47.1
49.1
46
34.8
Deferred revenue
21.4
22.7
29.6
32
34.4
7.45
10.1
14
11.3
12.3
Short-term debt
0.09
0.01
48
31.9
10.9
2.9
Total current liabilities
80.3
97
108
126
128
122
207
186
130
110
Long-term debt
64.9
58.1
61.1
Lease liabilities
71
76.3
18.7
1.63
1.03
2.76
1.75
Other non-current liabilities
6.01
8.48
8.54
11
12.5
9.58
1.08
4.25
Total liabilities
100
124
128
219
225
204
232
286
224
200
Total debt
0.09
0.01
52.8
101
74
64
Paid-in capital
36.4
129
136
140
141
137
448
474
479
487
Retained earnings
-35.5
-28.9
-30.4
-33.6
-71.8
-65.6
-316
-359
-455
-509
Treasury stock
-12
-10.3
-8.67
-7.45
0
-0.34
-0.45
Other comprehensive income
0.38
0.78
-0.12
0.14
-1.47
0.26
4.55
3.51
3.34
3.65
Shareholders' equity
3.51
104
109
98.5
62.1
67.7
137
119
28.4
-17.5
Minority interests
0.45
1.55
4.61
9.4
5.53
6.49
0
1.89
0
Total equity
3.96
105
113
108
33.2
116
134
121
28.4
-17.5
Total liabilities and equity
104
230
243
336
302
283
369
407
253
183
Shares outstanding
23.2
29.2
29.2
27.6
27.8
28
426
456
455
462
Cash flow statement
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
5.89
6.54
-1.71
-2.19
-41.2
-1.1
20.5
-39.4
-95.8
-54.1
Depreciation and amortization
4.83
6.1
7.53
9.3
9.24
6.12
4.52
4.97
5.7
9
Stock-based compensation
0
3.99
6.75
3.96
2.93
2.02
0
0
3.7
2.88
Deferred income tax
-1.69
-5.48
-3.89
-2.47
-3.22
-3.51
-26
-10.8
67.7
-0.81
Change in receivables
-0.37
0.18
-0.27
-1.72
0.63
-46.2
25.3
-0.68
33.4
14.4
Change in inventory
-1.45
-0.29
-1.51
-1.99
1.66
-57.4
-20
54.7
25.3
-0.92
Change in payables
54.8
-1.82
-23.7
-17.7
-3.81
Cash from operations
35.1
25.1
0.83
13
-6.53
-21.9
-5.27
-2.36
0.79
-45.5
Capital expenditures
-11.3
-11.9
-11.5
-12.5
-3.98
-1.19
-0.83
-0.39
-1.28
-0.09
Acquisitions
-39.8
-17.9
-0.42
0
-6
10.4
0
0
Purchases of investments
-0.45
-55.5
-1.88
-0.22
-0.6
Cash from investing
-12.1
-8.66
-51.7
-34.4
-2.59
-1.19
-15.8
19.3
4.31
-2.61
Debt issued
50.3
Debt repaid
-0.06
-0.08
-0.01
Stock issued
0.6
Share buybacks
-12
-0.76
Cash from financing
1.42
92.5
-0.76
-13.5
0.56
25.5
11.3
44.4
-22.6
-8.41
Exchange rate effect
-2.69
3.67
-2.74
-0.54
-6.3
0.27
0.36
Net change in cash
21.7
113
-54.4
-35.4
-14.9
11.7
-35.1
61.4
-17.5
-56.5
Free cash flow
23.7
13.2
-10.7
0.49
-10.5
-23.1
-6.1
-2.75
-0.5
-45.6
Interest paid
0
0
5.22
5.39
3.46
Income taxes paid
-0.72
-4.63
-5.21
-3.45
-0.92
6.42
0.97
0.91
1.4
1.36
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $0.35 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
21.0%
Gross profit / revenue.
Operating margin
-29.8%
Operating income / revenue.
EBITDA margin
-24.5%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-32.4%
Pre-tax income / revenue.
Net margin
-32.2%
Net income / revenue.
FCF margin
-27.2%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-27.1%
Cash from operations / revenue.
Return on assets (ROA)
-24.9%
Net income / average total assets.
Return on invested capital (ROIC)
-143.8%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
7.6%
Research and development expense / revenue.
Stock-based pay / revenue
1.7%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.1%
Capital expenditures / revenue.
D&A / revenue
5.4%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-37.2%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-34.0%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
31.7%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
-46.7%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-37.0%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y
-5,889.0%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-161.7%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-27.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-20.9%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-9.6%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
0.1%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
2.3%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
74.6%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.76x
Current assets / current liabilities.
Quick ratio
0.39x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.17x
(Cash + short-term investments) / current liabilities.
Debt / assets
35.1%
Total debt / total assets.
Liabilities / assets
109.6%
Total liabilities / total assets.
Net debt
$45.5M
Total debt - cash - short-term investments. Negative means more cash than debt.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.12
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-$0.12
Net income per basic share, as reported (split-adjusted).
Revenue per share
$0.37
Revenue / diluted weighted shares.
FCF per share
-$0.10
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.10
Cash from operations / diluted weighted shares.
Book value per share
-$0.04
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.10x
Market cap / revenue.
EV/Sales
0.37x
Enterprise value / revenue.
FCF yield
-276.3%
Free cash flow / market cap.
Earnings yield
-327.7%
Net income / market cap (the inverse of P/E).
What was Mynd.ai, Inc.'s revenue in fiscal 2025?
Mynd.ai, Inc. reported revenue of $167.9M for fiscal 2025, 37.2% lower than the year before.
Was Mynd.ai, Inc. profitable in fiscal 2025?
No. It reported a net loss of $54.1M.
How much free cash flow did Mynd.ai, Inc. generate in fiscal 2025?
Cash from operations of $45.5M minus capital expenditures of $94.0K left free cash flow of -$45.6M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.