The company's transition is marked by a 35% revenue contraction and a negative -14.23% operating margin, highlighting the difficulty of scaling fixed costs within a hardware-centric business model.
| Metric | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 |
|---|
| Sales/Revenue | 267.38M | 413.56M | 584.68M | 51.97M | 109.72M | 182.28M | 156.5M | 140.8M | 108.51M |
| Revenue Growth % | -35.35% | -29.27% | 1024.96% | -52.63% | -39.81% | 16.48% | 11.15% | 29.76% | - |
| Cost of Goods Sold | 201.14M | 310.42M | 440.77M | 309.22M | 116.9M | 155.53M | 130.86M | 111.28M | 91.62M |
| COGS % of Revenue | 75.23% | 75.06% | 75.39% | 594.96% | 106.55% | 85.33% | 83.62% | 79.03% | 84.43% |
| Gross Profit | 66.24M | 103.14M | 143.04M | 138.97M | -7.19M | 26.75M | 25.63M | 29.53M | 16.9M |
| Gross Margin % | 24.77% | 24.94% | 24.47% | 267.38% | -6.55% | 14.67% | 16.38% | 20.97% | 15.57% |
| Gross Profit Growth % | -35.78% | -27.9% | 2.93% | 2033.9% | -126.86% | 4.35% | -13.18% | 74.74% | - |
| Operating Expenses | 104.28M | 146.89M | 136.91M | 127.44M | 25.6M | 26.17M | 28.66M | 20.19M | 9.35M |
| OpEx % of Revenue | 39% | 35.52% | 23.42% | 245.19% | 23.33% | 14.36% | 18.31% | 14.34% | 8.61% |
| Selling, General & Admin | 75.54M | 82.81M | 95.46M | 91.84M | 25.6M | 26.17M | 28.66M | 20.19M | 9.35M |
| SG&A % of Revenue | 28.25% | 20.02% | 16.33% | 176.71% | 23.33% | 14.36% | 18.31% | 14.34% | 8.61% |
| Research & Development | 25.25M | 34.6M | 41.46M | 35.59M | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | 9.44% | 8.37% | 7.09% | 68.48% | - | - | - | - | - |
| Other Operating Expenses | 3.48M | 29.48M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -38.04M | -43.75M | 6.99M | 11.07M | -32.78M | 582K | -3.03M | 9.33M | 7.55M |
| Operating Margin % | -14.23% | -10.58% | 1.2% | 21.29% | -29.88% | 0.32% | -1.93% | 6.63% | 6.96% |
| Operating Income Growth % | 13.06% | -725.79% | -36.82% | 133.75% | -5732.99% | 119.23% | -132.43% | 23.61% | - |
| EBITDA | -32.34M | -38.63M | 11.51M | 24.11M | -21.11M | 12.1M | 5.03M | 15.43M | 12.38M |
| EBITDA Margin % | -12.1% | -9.34% | 1.97% | 46.4% | -19.24% | 6.64% | 3.22% | 10.96% | 11.41% |
| EBITDA Growth % | 16.28% | -435.56% | -52.26% | 214.21% | -274.47% | 140.5% | -67.39% | 24.64% | - |
| D&A (Non-Cash Add-back) | 5.7M | 5.12M | 4.52M | 13.05M | 11.67M | 11.52M | 8.06M | 6.1M | 4.83M |
| EBIT | -25.37M | -41.5M | 11.78M | -16.72M | -40.78M | 2.02M | 1.04M | 10.59M | 8.23M |
| Net Interest Income | -7.71M | -4.66M | -1.83M | -173K | 348.6K | 0 | 0 | 0 | 0 |
| Interest Income | 2.66M | 0 | 0 | 0 | 348K | 858K | 2.15M | 563K | 107K |
| Interest Expense | 10.37M | 4.66M | 1.83M | 173K | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 2.29M | -2.41M | 2.94M | -2.42M | -8M | 1.43M | 4.06M | 1.26M | 680K |
| Pretax Income | -35.74M | -46.16M | 9.95M | 8.64M | -40.78M | 2.02M | 1.04M | 10.59M | 8.23M |
| Pretax Margin % | -13.37% | -11.16% | 1.7% | 16.63% | -37.17% | 1.11% | 0.66% | 7.52% | 7.59% |
| Income Tax | 68.73M | -9.16M | -25.27M | 1.79M | 215K | 3.54M | 2.46M | 3.81M | 2.15M |
| Effective Tax Rate % | -192.28% | 19.83% | -254.1% | 20.67% | -0.53% | 175.73% | 237.13% | 35.99% | 26.18% |
| Net Income | -95.75M | -37.83M | 22.59M | -1.1M | -37.28M | -2.43M | -1.79M | 7.12M | 6.5M |
| Net Margin % | -35.81% | -9.15% | 3.86% | -2.12% | -33.98% | -1.34% | -1.14% | 5.05% | 5.99% |
| Net Income Growth % | -153.1% | -267.5% | 2149.46% | 97.04% | -1431.64% | -36.05% | -125.14% | 9.38% | - |
| Net Income (Continuing) | -104.48M | -37.01M | 35.22M | 6.86M | -41M | -1.53M | -1.42M | 6.78M | 6.08M |
| Discontinued Operations | 8.72M | -823K | -12.64M | -7.96M | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 1.89M | 0 | 11.43M | 15.52M | 18.2M | 6.24M | 1.55M | 453K |
| EPS (Diluted) | -21.00 | -8.80 | 5.00 | -0.24 | -13.30 | -0.87 | -6.10 | 26.80 | 28.10 |
| EPS Growth % | -138.64% | -276% | 2183.33% | 98.2% | -1428.74% | 85.74% | -122.76% | -4.63% | - |
| EPS (Basic) | -21.00 | -8.80 | 5.00 | -0.24 | -13.30 | -0.87 | -6.10 | 28.80 | 28.10 |
| Diluted Shares Outstanding | 4.56M | 4.28M | 4.55M | 4.55M | 2.81M | 2.81M | 292.14K | 265.67K | 231.64K |
| Basic Shares Outstanding | 4.56M | 4.28M | 4.55M | 4.55M | 2.81M | 2.81M | 292.14K | 247.35K | 231.64K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Geopolitical and Funding Cliff
As reported in recent financial disclosures, Mynd.ai has experienced a significant 35% revenue decline, reflecting the structural abandonment of its legacy Chinese preschool operations and a challenging transition toward a project-based global education technology model that remains highly sensitive to the expiration of pandemic-era stimulus funding.
The sharp revenue contraction suggests that the company is struggling to replace the lost volume from its divested preschool business with its current interactive hardware offerings. Investors should monitor whether this decline represents a permanent reset of the revenue base or if the company can stabilize its top line through its new global tender-based strategy.
Based on the company's reported figures, the 24.77% gross margin profile highlights the inherent limitations of a hardware-heavy business model that lacks the high-margin software subscription revenue necessary to offset the volatility of global LCD panel pricing and the costs associated with international distribution and assembly.
The current margin structure appears insufficient to support the company's fixed overhead, suggesting that the business remains highly vulnerable to commodity price fluctuations. Without a successful pivot toward higher-margin software attachment, the company may continue to face significant pressure on its bottom line during periods of hardware demand weakness.
According to the provided financial data, the reported operating margin of -14.23% indicates that the company's current revenue scale is inadequate to cover the fixed costs of its global sales force and R&D requirements, suggesting a lack of operational leverage in its current post-pivot business model.
The inability to achieve positive operating margins implies that the company's cost structure is currently misaligned with its revenue generation capabilities. This warrants further investigation into whether management can effectively rationalize its global overhead or if the business model requires a fundamental change to reach break-even status.
As indicated by the company's recent filings, the combination of a Beijing-based corporate structure and a reliance on Western public education budgets creates a unique risk profile that may lead to exclusion from key government contracts due to increasing data security and foreign technology scrutiny.
Short-sellers may focus on the potential for further margin compression if the company is forced to compete on price against more established hardware peers. The market's skepticism appears justified given the company's history of forced pivots and the ongoing difficulty in demonstrating a sustainable path to profitability in the competitive EdTech space.
Quick answers to the most common questions about buying MYND stock.
For fiscal year 2024, Mynd.ai, Inc. (MYND) reported total revenue of $267.4M. This represents a 146.4% increase compared to $108.5M in 2016.
Mynd.ai, Inc. (MYND) reported a net loss of $95.8M for the fiscal year ending 2024.
Mynd.ai, Inc. (MYND) reported an operating income of $-38.0M, resulting in an operating profit margin of -14.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Mynd.ai, Inc. (MYND) generated $66.2M in gross profit for the year, representing a gross profit margin of 24.8%. This demonstrates the company's core pricing power and production efficiency.