- Company reports disappointing fourth quarter and FY2022 results with $17.1 million of cash used in operating activities despite less-than-stellar revenue growth.
- On the conference call, management pointed to solid business activity and recently increased backlog levels.
- Single analyst revenue estimate for FY2023 looks too high.
- Discussing likely requirement to raise additional capital this year.
- I am hesitant to keep my "buy" rating on the shares given the company's mediocre execution record, and overly optimistic analyst expectations.
For further details see:
MIND Technology: Outlook Still Uncertain Despite Improved Order Levels