$MNDO

MIND CTI LTD

CIK:0001119083|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
REVENUES:
Total revenues	$ 19,457	$ 21,446	$ 21,612
COST OF REVENUES
Total cost of revenues	9,536	10,709	10,746
GROSS PROFIT	9,921	10,737	10,866
OPERATING EXPENSES:
Research and development	4,051	3,391	3,538
Selling and marketing	1,465	1,286	1,162
General and administrative	2,319	1,683	1,417
Total operating expenses	7,835	6,360	6,117
OPERATING INCOME	2,086	4,377	4,749
FINANCIAL INCOME, net	681	587	777
INCOME BEFORE TAXES ON INCOME	2,767	4,964	5,526
TAXES ON INCOME	163	334	359
NET INCOME	$ 2,604	$ 4,630	$ 5,167
EARNINGS PER SHARE - in U.S. dollars:
Basic (in Dollars per share)	$ 0.13	$ 0.23	$ 0.26
Diluted (in Dollars per share)	$ 0.13	$ 0.22	$ 0.25
WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES USED IN COMPUTATION OF EARNINGS PER SHARE – in thousands:
Basic (in Shares)	20,466	20,297	20,163
Diluted (in Shares)	20,628	20,581	20,471
Sales of licenses Services
REVENUES:
Total revenues	$ 18,724	$ 20,718	$ 21,054
COST OF REVENUES
Total cost of revenues	9,427	10,592	10,631
Sales of licenses
REVENUES:
Total revenues	733	728	558
COST OF REVENUES
Total cost of revenues	$ 109	$ 117	$ 115

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 2,604	$ 4,630	$ 5,167
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	270	186	196
Deferred income taxes, net	(99)	(43)	6
Accrued severance pay	48	46	46
Unrealized gain from marketable securities	(7)	(11)	(8)
Realized loss on sale of property and equipment	11	0	0
Employees share-based compensation	199	252	281
Changes in operating asset and liability items:
Decrease (increase) in accounts receivable, net	1,496	(4)	(549)
Decrease (increase) in other current assets	52	42	(244)
Decrease (increase) in prepaid expenses	(138)	101	(108)
Increase (decrease) in accounts payable	(325)	(173)	20
Decrease in other current liabilities and accruals	(802)	(264)	(243)
Change in operation lease liability	89	12	12
Increase (decrease) in deferred revenues	588	(660)	(476)
Net cash provided by operating activities	3,986	4,114	4,100
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(27)	(10)	(64)
Acquisition of a subsidiary, net of cash acquired	(1,533)	0	0
Severance pay funds	(48)	(55)	(53)
Proceeds from redemption of (investment in) short-term bank deposits	5,882	2,356	(1,424)
Net cash provided by (used in) investing activities	4,274	2,291	(1,541)
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividend paid	(4,502)	(4,868)	(4,839)
Purchase of treasury shares	(130)	0	0
Net cash used in financing activities	(4,632)	(4,868)	(4,839)
TRANSLATION ADJUSTMENTS ON CASH AND CASH EQUIVILENTS	36	(43)	(27)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	3,664	1,494	(2,307)
BALANCE OF CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	4,452	2,958	5,265
BALANCE OF CASH AND CASH EQUIVALENTS AT END OF YEAR	8,116	4,452	2,958
SUPPLEMENTAL DISCLOSURE OF CASH AND NON-CASH ACTIVITIES:
Taxes paid	382	393	419
Interest received	638	820	579
Right-of-use assets recognized with corresponding lease liability	$ 213	$ 411	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
CURRENT ASSETS:
Cash and cash equivalents	$ 8,116	$ 4,452
Short-term bank deposits	5,237	11,108
Marketable securities	200	193
Accounts receivable (net of allowance for credit losses of $8 and $208 as of December 31, 2025 and 2024, respectively)	1,713	2,498
Other current assets	486	493
Prepaid expenses	330	175
Total current assets	16,082	18,919
NON-CURRENT ASSETS:
Accounts receivable (net of allowance for credit losses of $200 as of December 31, 2024)	0	448
Severance pay fund	1,596	2,346
Deferred income taxes	147	108
Property and equipment, net	126	156
Right-of-use assets, net	876	861
Intangible assets, net	1,376	135
Goodwill	9,963	7,729
Total assets	30,166	30,702
CURRENT LIABILITIES:
Accounts payable	546	769
Other current liabilities and accruals	1,434	1,469
Current maturities of lease liabilities	255	188
Deferred revenues	1,960	849
Total current liabilities	4,195	3,275
LONG-TERM LIABILITIES:
Deferred revenues	239	108
Lease liabilities, net of current maturities	674	637
Accrued severance pay	1,596	2,346
Deferred income taxes	413	40
Total liabilities	7,117	6,406
SHAREHOLDERS' EQUITY:
Share capital - ordinary shares of NIS 0.01 par value – Authorized: 88,000,000 shares as of December 31, 2025 and 2024;Issued: 21,660,010 shares as of December 31, 2025 and 2024; Outstanding: 20,372,828 and 20,366,326 shares as ofDecember 31, 2025 and 2024, respectively	54	54
Additional paid-in capital	28,020	27,904
Accumulated other comprehensive loss	(625)	(1,207)
Accumulated deficit	(3,470)	(1,572)
Treasury shares - 1,287,182 and 1,293,684 shares as of December 31, 2025 and 2024, respectively	(930)	(883)
Total shareholders' equity	23,049	24,296
Total liabilities and shareholders' equity	$ 30,166	$ 30,702