The absence of accessible cash flow data prevents a clear assessment of liquidity, leaving the firm's ability to fund operations during its pivot as a critical unknown for stakeholders.
| Metric | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 |
|---|
| Cash from Operations | 786K | -2.36M | -5.27M | -21.9M | -6.53M | 12.98M | 828K | 25.1M | 35.05M |
| Operating CF Margin % | 0.29% | -0.57% | -0.9% | -42.14% | -5.95% | 7.12% | 0.53% | 17.83% | 32.3% |
| Operating CF Growth % | 133.33% | 55.27% | 75.93% | -235.64% | -150.27% | 1467.87% | -96.7% | -28.4% | - |
| Net Income | -104.48M | -37.04M | 22.59M | -16.49M | -37.28M | -2.43M | -1.79M | 7.12M | 6.5M |
| Depreciation & Amortization | 5.7M | 5.12M | 4.52M | 13.07M | 11.67M | 11.52M | 8.06M | 6.1M | 4.83M |
| Stock-Based Compensation | 3.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 67.67M | -10.31M | -25.27M | -1.29M | -3.22M | -2.69M | -4.58M | -4.83M | -1.69M |
| Other Non-Cash Items | -4.24M | 8.3M | 974K | -586.74K | 32.35M | 4.96M | 23.8M | 16.26M | 10.92M |
| Working Capital Changes | 32.44M | 31.57M | -8.08M | -16.6M | -10.04M | 1.63M | -6.76M | 12.88M | 25.78M |
| Change in Receivables | 33.9M | 1.36M | 25.35M | -46.25M | 631K | -1.72M | -271K | 68K | -176K |
| Change in Inventory | 25.25M | 54.73M | -20.24M | -57.39M | 1.66M | -1.99M | -1.51M | -290K | -1.45M |
| Change in Payables | -17.68M | -23.2M | -1.82M | 54.79M | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | 4.31M | 19.33M | -15.78M | -1.19M | -1.82M | -33.96M | -51.11M | -7.32M | -10.7M |
| Capital Expenditures | -1.28M | -4.82M | -1.86M | -1.19M | -3.98M | -12.49M | -11.48M | -11.92M | -11.3M |
| CapEx % of Revenue | 0.48% | 1.17% | 0.32% | 2.3% | 3.62% | 6.85% | 7.34% | 8.46% | 10.42% |
| Acquisitions | 20M | 16.14M | -6M | -789K | 1.27M | -15.65M | -37.53M | 1.35M | 1.59M |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | -14.41M | 8.02M | -7.92M | 204K | -383K | 0 | 0 | 2.81M | 0 |
| Cash from Financing | -22.63M | 44.44M | 11.35M | 25.46M | -204K | -13.87M | -1.38M | 91.16M | 0 |
| Debt Issued (Net) | -21.19M | 46.61M | 11.35M | 25.46M | -80.14K | -63K | 0 | 0 | 0 |
| Equity Issued (Net) | -342K | 0 | 0 | 0 | 0 | -1000K | -1000K | 1000K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -342K | 0 | 0 | 0 | 0 | -12M | -1.38M | 0 | 0 |
| Other Financing | -1.1M | -2.17M | 0 | 0 | -123.86K | -1.81M | 0 | -990K | 0 |
| Net Change in Cash | -16.47M | 62.47M | -11.2M | 2.69M | -15.27M | -35.36M | -54.61M | 112.44M | 24.35M |
| Free Cash Flow | -8.96M | -7.05M | -7.13M | -23.1M | -10.5M | 490K | -10.65M | 13.18M | 23.75M |
| FCF Margin % | -3.35% | -1.7% | -1.22% | -44.44% | -9.57% | 0.27% | -6.81% | 9.36% | 21.88% |
| FCF Growth % | -27.16% | 1.14% | 69.14% | -119.96% | -2243.06% | 104.6% | -180.81% | -44.49% | - |
| FCF per Share | -1.96 | -1.65 | -1.57 | -5.08 | -3.73 | 0.17 | -36.46 | 49.62 | 102.52 |
| FCF Conversion (FCF/Net Income) | -0.01x | 0.06x | -0.23x | 19.88x | 0.18x | -5.33x | -0.46x | 3.53x | 5.39x |
| Interest Paid | 5.39M | 5.22M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 914K | 969K | 6.42M | 0 | 0 | 0 | 0 | 0 |
Geopolitical and Funding Cliff
As reported in recent financial statements, the lack of accessible cash flow data prevents a definitive assessment of the relationship between net income and operating cash flow, leaving the quality of earnings and the extent of non-cash accruals as significant unknowns for potential investors to consider.
The absence of granular cash flow reporting makes it impossible to determine if the company's reported net losses are being mitigated or exacerbated by non-cash charges. Investors should monitor future filings for evidence of a persistent gap between accounting profitability and actual cash generation, which is critical for a company undergoing a major business model pivot.
Based on the company's reported figures, the trajectory of free cash flow remains obscured by the lack of available data, complicating any analysis of the firm's ability to self-fund its operations following the recent divestiture of its legacy Chinese preschool assets and the Promethean merger.
Without visibility into capital expenditures or operating cash flows, it is difficult to gauge whether the current hardware-centric model is capable of achieving positive free cash flow margins. The company's -14.23% operating margin suggests that cash burn is a distinct possibility, warranting further investigation into liquidity reserves.
According to available financial disclosures, the character of capital expenditures remains unquantified, leaving the market without insight into whether the company is prioritizing maintenance capex to sustain its legacy installed base or growth capex to expand its software-integrated hardware offerings in competitive global education markets.
Given the hardware-heavy nature of the Promethean business, one would typically expect significant capital intensity to support manufacturing and distribution. The lack of data regarding asset depreciation and replacement cycles suggests that investors should be cautious about the potential for hidden capital requirements.
As indicated by the provided financial data, the efficiency of working capital management, including inventory turnover and collection cycles for large-scale government tenders, cannot be assessed, which obscures the company's ability to manage liquidity during its transition to a project-based global education technology business model.
The seasonal nature of the EdTech procurement cycle typically places significant strain on working capital, as inventory must be built up well in advance of peak sales periods. Without specific data on receivables and payables, the risk of cash flow volatility remains high and requires close monitoring.
Based on the company's reported figures, the cash flow statement's lack of transparency regarding stock-based compensation and capitalized costs may mask the true extent of the company's cash burn, particularly as it navigates the post-merger integration and the expiration of pandemic-era education funding.
The reliance on non-GAAP metrics in the broader EdTech sector often obscures the underlying cash reality of hardware-centric firms. Investors should be wary of potential adjustments that might flatter the company's cash position without reflecting the underlying operational challenges of its current business model.
Quick answers to the most common questions about buying MYND stock.
Mynd.ai, Inc. (MYND) generated $0.8M in net cash from operating activities in 2024. This reflects the cash generated directly from core business operations.
Mynd.ai, Inc. (MYND) reported negative free cash flow of $9.0M in 2024, indicating capital requirements exceeded cash from operations.
Mynd.ai, Inc. (MYND) spent $1.3M on capital expenditures in 2024. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2024, Mynd.ai, Inc. (MYND) spent $0.3M on share repurchases. This shows the company's commitment to returning capital to its equity investors.