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MNDO

MIND C.T.I. Ltd

MNDO

MIND C.T.I. Ltd • NASDAQ
$1.19 ▼ -0.83% (-0.01)
Market Cap $24.24 M
52w High $2.13
52w Low $0.98
Dividend Yield 0.22%
P/E 8.5
Volume 19.28K
Outstanding Shares 20.37M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.823M ▲ $1.909M ▲ $681K ▲ 14.12% ▲ $0.033 ▲ $810K ▲
Q2-2025 $4.752M ▼ $1.884M ▼ $483K ▼ 10.164% ▲ $0.024 ▼ $596K ▼
Q1-2025 $4.996M ▼ $2.139M ▲ $490K ▼ 9.808% ▼ $0.024 ▼ $618K ▼
Q4-2024 $5.199M ▼ $1.57M ▲ $1.238M ▲ 23.812% ▲ $0.06 ▲ $1.432M ▲
Q3-2024 $5.208M $1.513M $929K 17.838% $0.045 $982K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $12.495M ▲ $29.369M ▲ $7.184M ▼ $22.185M ▲
Q2-2025 $11.354M ▼ $29.113M ▼ $7.662M ▼ $21.451M ▲
Q1-2025 $14.911M ▼ $32.86M ▲ $12.341M ▲ $20.519M ▼
Q4-2024 $15.753M ▲ $30.702M ▲ $6.406M ▼ $24.296M ▲
Q3-2024 $15.531M $29.849M $6.604M $23.245M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $681K ▲ $1.167M ▲ $1.273M ▼ $0 ▲ $2.438M ▲ $1.157M ▲
Q2-2025 $483K ▼ $921K ▲ $2.972M ▲ $-4.502M ▼ $-580K ▲ $916K ▲
Q1-2025 $490K ▼ $685K ▲ $-1.823M ▼ $0 $-1.121M ▼ $680K ▲
Q4-2024 $1.238M ▲ $308K ▼ $1.472M ▲ $0 $1.718M ▲ $305K ▼
Q3-2024 $929K $952K $-1.426M $0 $-436K $947K

Five-Year Company Overview

Income Statement

Income Statement Revenue over the last few years has been very steady, with no clear growth trend but also no major drop-off. Profitability has been consistently positive, which is a plus for a small software company, but earnings per share have edged down recently, suggesting some mild pressure on margins or costs. Overall, the business looks stable rather than fast-growing, with dependable but modest profits. The key question going forward is whether newer product lines and acquisitions can move the company from “steady” to “growing.”

Balance Sheet

Balance Sheet The balance sheet looks conservative and fairly clean. The company carries essentially no financial debt, which reduces financial risk and gives it more flexibility during downturns. Assets and shareholders’ equity have been stable over time, pointing to a business that is not overextended. Cash holdings move around a bit but remain present, suggesting management has at least some buffer for operations and small acquisitions without needing heavy borrowing.

Cash Flow

Cash Flow Operating cash flow has generally been positive, though not strongly so, and it has flattened in the most recent years. Free cash flow largely tracks operating cash flow because the business requires minimal capital spending, which is typical for a mature software company. This means most cash generated can, in principle, be used for dividends, buybacks, or acquisitions, rather than heavy reinvestment in physical assets. However, the recent softening in cash generation underscores the importance of reigniting growth to keep this cash profile attractive.

Competitive Edge

Competitive Edge MIND C.T.I. occupies a focused niche in telecom billing, unified communications analytics, and enterprise messaging. Its systems are deeply embedded in customers’ operations, creating high switching costs and helping keep relationships long term. Years of domain expertise and a full suite of billing, analytics, and messaging tools give it a defensible position, especially with smaller and mid-sized service providers and enterprises. The main competitive risks are a shrinking traditional telecom billing market and intense competition from larger, cloud-native vendors, which may limit its ability to win big new deals without ongoing product evolution.

Innovation and R&D

Innovation and R&D The company’s innovation is centered on converged billing (MINDBill), communications analytics (PhonEx ONE), and newer capabilities like SIM over-the-air provisioning for 5G and IoT. It has been using targeted acquisitions in enterprise messaging and UC analytics to expand its product range and deepen its technology stack. The strategic direction is clear: shift from legacy telecom billing toward higher-growth areas such as 5G, IoT connectivity management, and cloud-friendly enterprise communications tools. The challenge is execution—keeping products modern, cloud-ready, and competitive against larger, better-funded rivals while maintaining profitability.

Summary

Overall, MIND C.T.I. looks like a small, mature software company with stable revenue, consistent profitability, and a conservative balance sheet. Cash generation has been positive but is not surging, which makes future growth in newer segments particularly important. Its niche strength lies in sticky telecom billing and communications analytics solutions that are hard for customers to replace. At the same time, its traditional core market is under pressure, and it must rely on innovation and acquisitions in areas like 5G, IoT, and enterprise communications to sustain and grow its business. The company’s long-term story hinges on how effectively it can transition from legacy markets to these newer, faster-growing opportunities while preserving its financial discipline.

NEWS

November 12, 2025 · 6:49 AM UTC

MIND CTI Reports Third Quarter 2025 Results

Read more