debt_leverage_profile
0.00x Total Debt / Equity (Conservative)
High
SEC-XBRL
interest_rate_sensitivity
Low direct sensitivity; MIND Technology carries minimal long-term debt, so a 200bps rate rise has negligible interest expense impact but pressures defense-budget customers' capex decisions.
Inferred
Agent_Inference
geopolitical_supply_exposure
High intensity; OPEC+ supply decisions and Russia-Ukraine conflict drive price volatility.
Medium
GICS-commodity-overlay-v1
supply_chain_dependency
Taiwan/South Korea semiconductor fabrication for sonar transducer components; China-sourced rare-earth magnets for acoustic systems.
Inferred
Agent_Inference
international_expansion_readiness
Primary international revenue from Middle East, Southeast Asia, and Europe; USD-denominated contracts largely insulate against local currency devaluation risk.
Inferred
Agent_Inference
geographic_footprint
USD-denominated government and defense contracts dominate; MXN, EUR, and SGD exposure minimal, limiting sovereign devaluation impact across top-three non-US markets.
Inferred
Agent_Inference
commodity_exposure_profile
High intensity; commodities: Crude Oil, Natural Gas, Coal, Refined Petroleum Products, Uranium, Steel (equipment); geopolitical: OPEC+ supply decisions and Russia-Ukraine conflict drive price volatility.
Medium
GICS-commodity-overlay-v1
vendor_lock_dependency_score
Piezoelectric ceramic suppliers for sonar transducers represent a high-concentration single-source dependency; substitution possible but costly and time-consuming.
Inferred
Agent_Inference
business_model_type_primary
Hardware-centric, not cloud-dependent; AWS/GCP/Azure termination would disrupt internal IT and CRM but not core product delivery or revenue generation.
Inferred
Agent_Inference
business_model_type_secondary
Secondary software/firmware elements use internal or on-premise deployment; cloud termination risk to product delivery is low to negligible.
Inferred
Agent_Inference
switching_cost_profile
Minimal API coupling risk; MIND Technology's products are hardware-embedded systems with proprietary firmware, not reliant on third-party API ecosystems.
Inferred
Agent_Inference
howey_test_risk_index
Revenue derived from product sales and services to defense/government clients; no investment contract structure — Howey Test risk is effectively zero.
Inferred
Agent_Inference
regulatory_burden_tier
High
Medium
GICS-regulatory-overlay-v1
data_sovereignty_risk
Limited GDPR/CCPA exposure; company handles minimal personal data, primarily B2G defense contracts with classified handling protocols superseding consumer privacy law.
Inferred
Agent_Inference
antitrust_exposure_flag
Low antitrust risk; operates in a niche defense and marine technology market with limited market share and multiple global competitors (Teledyne, Kongsberg).
Inferred
Agent_Inference
regulatory_exposure_profile
High burden; regimes: EPA, FERC, DOE, CFTC, OSHA, SEC; Accelerating emissions mandates and methane rules threaten capex economics.
Medium
GICS-regulatory-overlay-v1
revenue_model_type
Predominantly transactional (~80-85%); multi-year defense contracts provide some recurring backlog but true subscription revenue is negligible.
Inferred
Agent_Inference
monetization_vector
Primary monetization via hardware product sales (sonar, streamer systems); secondary via service contracts, repairs, and system integration fees.
Inferred
Agent_Inference
pricing_architecture
Cost-plus government contracting pricing; limited flexibility under stress but provides floor protection; commercial segment more vulnerable to competitive price pressure.
Inferred
Agent_Inference
pricing_power_rating
Moderate; proprietary sonar IP and defense certifications provide pricing leverage, but small company scale limits negotiating power against large prime contractors.
Inferred
Agent_Inference
target_gross_margin_bracket
45.6% Gross Margin (Strong (40-60%))
High
SEC-XBRL
churn_vulnerability_index
No meaningful free-rider leakage; products are capital equipment requiring purchase; no freemium or open-access tier exists in the business model.
Inferred
Agent_Inference
headcount_cost_structure
Revenue growth is headcount-sublinear at moderate scale; engineering and manufacturing labor scales with production volume but not 1:1 with revenue doubling.
Inferred
Agent_Inference
marginal_cost_of_growth
Marginal cost of growth is hardware-material-driven (~40-50% COGS); doubling revenue requires proportional material and manufacturing cost increase, limiting pure operating leverage.
Inferred
Agent_Inference
franchise_compliance_risk
Not applicable; MIND Technology does not operate a franchise model.
Inferred
Agent_Inference
customer_acquisition_metric
At 10x scale, CAC likely improves via defense framework contracts; however, small addressable market (~$500M niche) constrains realistic 10x revenue scenario.
Inferred
Agent_Inference
network_effect_present
No meaningful network effects; sonar and marine technology hardware value does not increase with additional users or installed base size.
Inferred
Agent_Inference
asset_efficiency_ratio
5.9% Return on Assets (Excellent)
High
SEC-XBRL
recession_resistance_tier
Tier 2 moderate resilience; US and allied defense budgets support baseline demand, but commercial marine and oil & gas segments are cyclically vulnerable.
Inferred
Agent_Inference
customer_segment_primary
US and allied government defense agencies and navies; high concentration risk with top 3 customers likely representing 50-60% of annual revenue.
Inferred
Agent_Inference
customer_segment_secondary
Commercial offshore energy (oil & gas seismic survey) and academic oceanographic research institutions; cyclically sensitive and represents minority revenue share.
Inferred
Agent_Inference
characteristic_occupations
["11-0000 Management Occupations", "13-0000 Business and Financial Operations Occupations", "15-0000 Computer and Mathematical Occupations", "17-0000 Architecture and Engineering Occupations", "19-0000 Life, Physical, and Social Science Occupations", "23-0000 Legal Occupations", "41-0000 Sales and Related Occupations", "43-0000 Office and Administrative Support Occupations", "47-0000 Construction and Extraction Occupations", "49-0000 Installation, Maintenance, and Repair Occupations", "53-0000 Transportation and Material Moving Occupations"]
High
SOC-2018/GICS-overlay
agent_automatable_labor_share
0.33 (HIL — ~33% of characteristic roles agent-automatable)
Medium
SOC-2018 + agentic-exposure-v1
capital_expenditure_profile
1.6% CapEx / Revenue (Low-CapEx Asset-Light)
High
SEC-XBRL
sec_cik
0000926423
High
SEC-EDGAR
ticker
MIND
High
SEC-EDGAR