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Mind Gym (MIND) AI Stock Analysis

GB:MIND

Mind Gym

(LSE:MIND)

Select Model
Rating:42Neutral
Price Target:GBX 4.00â–¼(-5.88% Downside)
Action:reiterated
Date:10/28/26

The score is driven primarily by weak financial performance (multi-year revenue decline, ongoing losses, and negative equity) and bearish technicals (price below all major moving averages with negative momentum). Improved 2026 cash flow provides some support, but valuation is not meaningfully attractive given losses and the lack of a dividend yield.

Positive Factors
Strong Gross MarginsSustained gross margins in the 82–88% range indicate that Mind Gym’s underlying services retain substantial value after direct costs. This provides a potentially attractive economic base for recovery, although improving revenue scale and operating profitability remain necessary to convert that margin into durable earnings.
Negative Factors
Persistent Revenue DeclineA three-year revenue contraction indicates sustained weakening in the company’s commercial scale rather than a single-period setback. Continued top-line shrinkage can reduce operating leverage, limit reinvestment capacity, and make it harder for strong gross margins to support a return to profitability.

Mind Gym (MIND) vs. iShares MSCI United Kingdom ETF (EWC)

-80%-60%-40%-20%0%20%40%GB:MIND-70.69%EWC+21.27%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
GBP 4.27M
Dividend Yield
―
Average Volume (3M)
15.57K
Price to Earnings (P/E)
-0.8
Beta (1Y)
0.49
Revenue Growth
-22.55%
EPS Growth
35.74%
Country
UK
Employees
188
Sector
Industrials
Sector Strength
63
Industry
Specialty Business Services

Mind Gym Business Overview & Revenue Model

Company Description

Mind Gym plc is a company rooted in behavioral science, operating across key international markets including the United Kingdom, Singapore, the United States, and Canada. Its service portfolio encompasses conducting research, offering strategic guida...

Mind Gym Financial Statement Overview

Summary

Financials are higher-risk overall. Revenue has declined for three straight years and the company remains loss-making with negative EBIT and net margins. Cash flow improved in 2026 with positive operating cash flow and free cash flow, but the balance sheet is a major concern as equity turned negative in 2026, reducing financial flexibility.

Income Statement

34Negative

Balance Sheet

27Negative

Cash Flow

52Neutral
Financial statement breakdown
BreakdownTTMMar 2025Mar 2024Mar 2023Mar 2022Mar 2021
Income Statement
Total Revenue29.90M29.90M38.61M44.91M55.01M48.67M
Gross Profit24.61M24.61M33.44M38.72M48.65M42.38M
EBITDA-93.00K619.00K-3.56M-9.20M5.35M1.25M
Net Income-5.27M-5.27M-8.19M-10.89M2.94M1.60M
Balance Sheet
Total Assets8.25M8.25M12.41M22.38M37.42M34.64M
Cash, Cash Equivalents and Short-Term Investments494.00K494.00K570.00K1.37M7.59M10.02M
Total Debt1.50M1.50M1.16M2.02M3.11M2.21M
Total Liabilities9.86M9.86M8.86M10.54M14.60M15.01M
Stockholders Equity-1.60M-1.60M3.55M11.84M22.81M19.63M
Cash Flow
Free Cash Flow464.00K464.00K431.00K-4.90M-1.50M-5.79M
Operating Cash Flow500.00K500.00K1.93M-665.00K3.63M352.00K
Investing Cash Flow-787.00K-787.00K-1.50M-4.20M-5.07M-6.13M
Financing Cash Flow-590.00K-590.00K-1.10M-1.26M-1.32M-1.20M

Mind Gym Technical Analysis

Technical Analysis SentimentNegative
Last Price4.25

Price Trends

50DMA6.38Negative
100DMA7.64Negative
200DMA9.86Negative

Market Momentum

MACD-0.61Positive
RSI0.00Positive
STOCH15.44Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:MIND, the sentiment is Negative. The current price of 4.25 is below the 20-day moving average (MA) of 5.44, below the 50-day MA of 6.38, and below the 200-day MA of 9.86, indicating a bearish trend. The MACD of -0.61 indicates Positive momentum. The RSI at 0.00 is Positive, neither overbought nor oversold. The STOCH value of 15.44 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:MIND.

Mind Gym Peers Comparison

Overall Rating

UnderperformOutperform
Sector (63)

Financial Indicators

GB:MIND against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
GB:ITRKGB:ITRK73OutperformGBP 9.10B28.5129.86%2.78%3.94%-8.14%
GB:MTOGB:MTO67NeutralGBP 2.65B32.3515.86%2.15%10.55%-19.05%
Sector *63Neutral$10.79B15.437.44%2.01%2.89%-14.66%
GB:SRPGB:SRP62NeutralGBP 2.75B18.7517.55%1.61%1.20%221.80%
GB:RWSGB:RWS51NeutralGBP 527.05M-5.46-12.70%4.47%-0.86%-481.50%
GB:CPIGB:CPI47NeutralGBP 307.23M-1.53-677.10%―-16.13%-1315.87%
GB:MINDGB:MIND42NeutralGBP 4.26M-0.811698.71%―-22.55%35.74%

* Industrials Sector Average

Performance Comparison

-50%0%50%100%GB:MINDGB:CPIGB:ITRKGB:MTOGB:RWSGB:SRPDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
GB:MIND and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
GB:MINDMind Gym Plc4.25-10.25-70.69%
GB:CPICapita plc256.50-51.50-16.72%
GB:ITRKIntertek Group plc5930.00988.4220.00%
GB:MTOMitie Group plc209.0050.4731.84%
GB:RWSRWS Holdings142.0071.22100.62%
GB:SRPSerco Group plc288.2041.0916.63%

Mind Gym Corporate Events

Business Operations and StrategyFinancial Disclosures

MindGym warns of full-year loss as HR spending cuts hit revenues amid strategic shift

Negative
Oct 19, 2026

MindGym reported a difficult first half to fiscal 2027, as challenging market conditions and cutbacks in HR spending from corporate clients pushed revenues down 15% year-on-year to £11.5m. The shift toward more face-to-face delivery at lower mar...

Business Operations and StrategyStock BuybackShareholder Meetings

MindGym wins AGM backing but faces pockets of investor dissent

Positive
Sep 8, 2026

MindGym reported that shareholders approved all resolutions at its 2026 annual general meeting, covering the report and accounts, remuneration report and policy, auditor appointments and pay, share allotment authorities, and buyback powers. All direc...

Executive/Board ChangesShareholder Meetings

MindGym Withdraws AGM Resolution After Director Resignation

Neutral
Aug 14, 2026

MindGym plc has withdrawn the resolution to re-elect co-founder Octavius Black as a director from its 2026 Annual General Meeting agenda following his resignation from the board earlier this month. The move formalises the governance change while leav...

Business Operations and StrategyExecutive/Board Changes

Mind Gym Co-Founder Octavius Black Steps Down as Executive Chair

Negative
Aug 3, 2026

Mind Gym plc has announced that co-founder and Executive Chair Octavius Black CBE is stepping down from the board with immediate effect due to ill health, ending a 26-year leadership tenure in which he guided the business from its 2000 founding to it...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 28, 2026