MNDO

MKT CAP:$22M

MIND C.T.I. Ltd

Market Cap

$22M

Technology·Software - Application·🇮🇱 Israel·NASDAQ

Technology·Software App·🇮🇱·NASDAQ

Stock Price

$1.08-$0.09 (-7.69%)

Apr 22, 2026

Company Details

MIND C.T.I. Ltd., together with its subsidiaries, designs, develops, markets, supports, implements, and operates billing and customer care systems in the Americas, Europe, Israel, the Asia Pacific, and Africa. It operates in two segments, B...

CEO

Ariel Glassner

IPO Date

Aug 8, 2000

Website

mindcti.com

Key Metrics TTM

Revenue

$19M

-9.3% YoY

Net Income

$3M

EPS (Diluted)

$0.13

Free Cash Flow

$4M

Revenue / Share

$0.94

Gross Margin

51.0%

Operating Margin

10.7%

Net Margin

13.4%

FCF Margin

20.9%

P/S

1.1x

P/E

8.4x

Earnings Reports

Q1 2026

May 4, 2026

PENDING

FY 2025

Mar 18, 2026

$19M-9.3%EPS $0.13

Q4 2025

Mar 18, 2026

$5M-6.0%EPS $0.05

Q3 2025

Nov 12, 2025

$5M-7.4%EPS $0.03

Q2 2025

Aug 11, 2025

$5M-9.9%EPS $0.02

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$6M	$3M	$2M
Q2 22	$5M	$3M	$1M
Q3 22	$5M	$3M	$1M
Q4 22	$5M	$3M	$1M
Q1 23	$5M	$3M	$1M
Q2 23	$5M	$3M	$1M
Q3 23	$5M	$3M	$1M
Q4 23	$6M	$3M	$1M
Q1 24	$6M	$3M	$1M
Q2 24	$5M	$3M	$1M
Q3 24	$5M	$2M	$743.0K
Q4 24	$5M	$3M	$1M
Q1 25	$5M	$3M	$370.0K
Q2 25	$5M	$2M	$266.0K
Q3 25	$5M	$3M	$644.0K
Q4 25	$5M	$3M	$806.0K

Valuation

Quarter	P/S	P/E
Q1 22	2.3x	9.9x
Q2 22	2.0x	8.5x
Q3 22	1.9x	7.6x
Q4 22	2.1x	8.5x
Q1 23	1.9x	7.8x
Q2 23	1.9x	7.9x
Q3 23	1.8x	7.7x
Q4 23	1.9x	8.0x
Q1 24	1.7x	7.3x
Q2 24	1.7x	7.3x
Q3 24	1.8x	8.3x
Q4 24	1.9x	8.8x
Q1 25	1.8x	9.7x
Q2 25	1.4x	8.9x
Q3 25	1.2x	8.0x
Q4 25	1.2x	9.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$489.0K	$477.0K
Q2 22	$2M	$2M
Q3 22	$1M	$979.0K
Q4 22	$1M	$1M
Q1 23	$554.0K	$512.0K
Q2 23	$2M	$2M
Q3 23	$977.0K	$968.0K
Q4 23	$711.0K	$700.0K
Q1 24	$877.0K	$877.0K
Q2 24	$2M	$2M
Q3 24	$952.0K	$947.0K
Q4 24	$308.0K	$305.0K
Q1 25	$685.0K	$680.0K
Q2 25	$921.0K	$916.0K
Q3 25	$1M	$1M
Q4 25	$1M	$1M

Capital Expenditures

Quarter	CapEx
Q1 22	$12.0K
Q2 22	$56.0K
Q3 22	$45.0K
Q4 22	$17.0K
Q1 23	$42.0K
Q2 23	$2.0K
Q3 23	$9.0K
Q4 23	$11.0K
Q1 24	$0
Q2 24	$2.0K
Q3 24	$5.0K
Q4 24	$3.0K
Q1 25	$5.0K
Q2 25	$5.0K
Q3 25	$10.0K
Q4 25	$7.7K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-7.0%	-9.8%
Q2 22	-27.7%	-26.9%
Q3 22	-25.0%	-26.7%
Q4 22	-10.0%	-4.1%
Q1 23	-3.6%	+2.8%
Q2 23	+0.3%	+6.3%
Q3 23	+0.2%	+4.6%
Q4 23	+4.5%	+7.1%
Q1 24	+5.1%	+8.2%
Q2 24	+0.4%	+0.6%
Q3 24	-1.1%	+10.3%
Q4 24	-7.3%	-12.9%
Q1 25	-13.3%	+2.3%
Q2 25	-9.9%	+6.7%
Q3 25	-7.4%	-6.4%
Q4 25	-6.0%	+5.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$47.0K	0.8%
Q2 22	$68.0K	1.3%
Q3 22	$74.0K	1.4%
Q4 22	$69.0K	1.3%
Q1 23	$68.0K	1.2%
Q2 23	$73.0K	1.4%
Q3 23	$72.0K	1.4%
Q4 23	$68.0K	1.2%
Q1 24	$64.0K	1.1%
Q2 24	$64.0K	1.2%
Q3 24	$62.0K	1.2%
Q4 24	$62.0K	1.2%
Q1 25	$58.0K	1.2%
Q2 25	$49.0K	1.0%
Q3 25	$47.0K	1.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$944.0K	$369.0K	$147.0K	—
Q2 22	$848.0K	$417.0K	$286.0K	—
Q3 22	$866.0K	$348.0K	$188.0K	—
Q4 22	$837.0K	$389.0K	$344.0K	—
Q1 23	$900.0K	$229.0K	$265.0K	—
Q2 23	$905.0K	$439.0K	$299.0K	—
Q3 23	$865.0K	$354.0K	$240.0K	—
Q4 23	$868.0K	$395.0K	$358.0K	—
Q1 24	$882.0K	$351.0K	$315.0K	—
Q2 24	$841.0K	$587.0K	$301.0K	—
Q3 24	$841.0K	$341.0K	$331.0K	—
Q4 24	$827.0K	$404.0K	$339.0K	—
Q1 25	$894.0K	$889.0K	$356.0K	—
Q2 25	$995.0K	$531.0K	$358.0K	—
Q3 25	$1M	$459.0K	$352.0K	—
Q4 25	$1M	—	—	$839.0K

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	-7.0%	29.5%	22.4
Q2 22	-27.7%	25.8%	-1.9
Q3 22	-25.0%	27.2%	2.2
Q4 22	-10.0%	26.5%	16.4
Q1 23	-3.6%	27.4%	23.8
Q2 23	0.3%	24.1%	24.4
Q3 23	0.2%	26.7%	26.9
Q4 23	4.5%	27.6%	32.1
Q1 24	5.1%	25.7%	30.7
Q2 24	0.4%	23.8%	24.3
Q3 24	-1.1%	18.9%	17.8
Q4 24	-7.3%	27.5%	20.2
Q1 25	-13.3%	12.4%	-1.0
Q2 25	-9.9%	12.5%	2.6
Q3 25	-7.4%	16.8%	9.4
Q4 25	-6.0%	17.9%	11.9

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$5M	$13M	$19M
Q2 22	$5M	$10M	$15M
Q3 22	$4M	$12M	$16M
Q4 22	$5M	$12M	$17M
Q1 23	$7M	$11M	$18M
Q2 23	$6M	$9M	$15M
Q3 23	$3M	$13M	$16M
Q4 23	$3M	$14M	$17M
Q1 24	$5M	$13M	$17M
Q2 24	$3M	$11M	$15M
Q3 24	$3M	$13M	$16M
Q4 24	$4M	$11M	$16M
Q1 25	$3M	$12M	$15M
Q2 25	$3M	$9M	$11M
Q3 25	$5M	$7M	$12M
Q4 25	$8M	$5M	$14M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	20M	+0.3%	+0.5%
Q2 22	20M	+0.2%	+0.7%
Q3 22	20M	-0.0%	+0.6%
Q4 22	20M	+0.2%	+0.8%
Q1 23	20M	+0.1%	+0.5%
Q2 23	20M	+0.2%	+0.5%
Q3 23	20M	+0.1%	+0.6%
Q4 23	21M	+0.1%	+0.5%
Q1 24	21M	+0.1%	+0.5%
Q2 24	21M	+0.6%	+0.8%
Q3 24	21M	+0.2%	+1.0%
Q4 24	21M	+0.1%	+1.0%
Q1 25	21M	-0.5%	+0.4%
Q2 25	21M	+0.5%	+0.3%
Q3 25	21M	+0.1%	+0.2%
Q4 25	21M	+0.1%	+0.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$26.6K	214
Q2 22	$24.5K	214
Q3 22	$24.6K	214
Q4 22	$35.1K	153
Q1 23	$35.9K	153
Q2 23	$34.3K	153
Q3 23	$34.4K	153
Q4 23	$39.0K	144
Q1 24	$40.0K	144
Q2 24	$36.6K	144
Q3 24	$36.2K	144
Q4 24	$38.2K	136
Q1 25	$36.7K	136
Q2 25	$34.9K	136
Q3 25	$35.5K	136
Q4 25	$35.2K	139

Revenue / Employee