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Side-by-side financial comparison of MIND TECHNOLOGY, INC (MIND) and Where Food Comes From, Inc. (WFCF). Click either name above to swap in a different company.
MIND TECHNOLOGY, INC is the larger business by last-quarter revenue ($9.7M vs $6.0M, roughly 1.6× Where Food Comes From, Inc.). MIND TECHNOLOGY, INC runs the higher net margin — 0.6% vs -3.4%, a 4.0% gap on every dollar of revenue. On growth, Where Food Comes From, Inc. posted the faster year-over-year revenue change (-9.3% vs -20.0%). MIND TECHNOLOGY, INC produced more free cash flow last quarter ($801.0K vs $-741.0K). Over the past eight quarters, Where Food Comes From, Inc.'s revenue compounded faster (4.0% CAGR vs -14.9%).
Mitcham Industries, Inc. is a company founded in 1987, and is based in Huntsville, Texas. The company markets geophysical and other equipment to seismic data acquisition contractors conducting surveys on land, marsh, and marine areas, both shallow and deep water. There are mainly two segments operating in the company, namely an Equipment Leasing segment and an Equipment Manufacturing segment. In October 2011, the Company opened a new logistics and repair facility in Budapest, Hungary, and thr...
Where Food Comes From, Inc. is a leading provider of food traceability, verification, and certification solutions for the agricultural and food production industries. Its services support producers, processors, and retailers across North America to validate food origin, sustainability practices, animal welfare standards, and product authenticity for end consumers.
MIND vs WFCF — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $9.7M | $6.0M |
| Net Profit | $62.0K | $-203.0K |
| Gross Margin | 46.6% | 35.9% |
| Operating Margin | 8.0% | -1.0% |
| Net Margin | 0.6% | -3.4% |
| Revenue YoY | -20.0% | -9.3% |
| Net Profit YoY | -95.2% | -121.1% |
| EPS (diluted) | — | $-0.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $9.7M | $6.0M | ||
| Q3 25 | $13.6M | $7.0M | ||
| Q2 25 | $7.9M | $6.6M | ||
| Q1 25 | $15.0M | $5.3M | ||
| Q4 24 | $12.1M | $6.7M | ||
| Q3 24 | $10.0M | $7.1M | ||
| Q2 24 | $9.7M | $6.4M | ||
| Q1 24 | $13.4M | $5.6M |
| Q4 25 | $62.0K | $-203.0K | ||
| Q3 25 | $1.9M | $1.1M | ||
| Q2 25 | $-970.0K | $562.0K | ||
| Q1 25 | $2.0M | $31.0K | ||
| Q4 24 | $1.3M | $961.0K | ||
| Q3 24 | $798.0K | $492.0K | ||
| Q2 24 | $954.0K | $489.0K | ||
| Q1 24 | $1.4M | $178.0K |
| Q4 25 | 46.6% | 35.9% | ||
| Q3 25 | 50.4% | 38.3% | ||
| Q2 25 | 42.2% | 37.5% | ||
| Q1 25 | 43.5% | 41.6% | ||
| Q4 24 | 44.8% | 42.0% | ||
| Q3 24 | 47.6% | 39.0% | ||
| Q2 24 | 43.6% | 41.6% | ||
| Q1 24 | 46.7% | 41.7% |
| Q4 25 | 8.0% | -1.0% | ||
| Q3 25 | 19.6% | 8.2% | ||
| Q2 25 | -8.3% | 8.4% | ||
| Q1 25 | 18.5% | 2.7% | ||
| Q4 24 | 15.5% | 11.3% | ||
| Q3 24 | 14.2% | 8.6% | ||
| Q2 24 | 7.5% | 9.1% | ||
| Q1 24 | 17.3% | 4.7% |
| Q4 25 | 0.6% | -3.4% | ||
| Q3 25 | 14.2% | 16.3% | ||
| Q2 25 | -12.3% | 8.6% | ||
| Q1 25 | 13.5% | 0.6% | ||
| Q4 24 | 10.7% | 14.4% | ||
| Q3 24 | 8.0% | 6.9% | ||
| Q2 24 | 9.9% | 7.6% | ||
| Q1 24 | 10.8% | 3.2% |
| Q4 25 | — | $-0.04 | ||
| Q3 25 | — | $0.22 | ||
| Q2 25 | — | $0.11 | ||
| Q1 25 | — | $0.01 | ||
| Q4 24 | — | $0.19 | ||
| Q3 24 | — | $0.09 | ||
| Q2 24 | — | $0.09 | ||
| Q1 24 | — | $0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $19.4M | $3.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $39.9M | $9.3M |
| Total Assets | $47.3M | $12.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.4M | $3.2M | ||
| Q3 25 | $7.8M | $4.8M | ||
| Q2 25 | $9.2M | $3.2M | ||
| Q1 25 | $5.3M | $2.2M | ||
| Q4 24 | $3.5M | $2.0M | ||
| Q3 24 | $1.9M | $2.8M | ||
| Q2 24 | $924.0K | $2.6M | ||
| Q1 24 | $5.3M | $1.9M |
| Q4 25 | $39.9M | $9.3M | ||
| Q3 25 | $28.8M | $10.3M | ||
| Q2 25 | $26.6M | $10.0M | ||
| Q1 25 | $27.3M | $9.6M | ||
| Q4 24 | $25.2M | $9.9M | ||
| Q3 24 | $24.5M | $9.5M | ||
| Q2 24 | $23.6M | $9.7M | ||
| Q1 24 | $22.6M | $9.6M |
| Q4 25 | $47.3M | $12.9M | ||
| Q3 25 | $35.8M | $16.9M | ||
| Q2 25 | $36.2M | $16.6M | ||
| Q1 25 | $36.7M | $15.2M | ||
| Q4 24 | $36.1M | $15.3M | ||
| Q3 24 | $37.8M | $16.9M | ||
| Q2 24 | $34.9M | $16.8M | ||
| Q1 24 | $33.5M | $15.4M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $894.0K | $-707.0K |
| Free Cash FlowOCF − Capex | $801.0K | $-741.0K |
| FCF MarginFCF / Revenue | 8.3% | -12.3% |
| Capex IntensityCapex / Revenue | 1.0% | 0.6% |
| Cash ConversionOCF / Net Profit | 14.42× | — |
| TTM Free Cash FlowTrailing 4 quarters | $5.1M | $1.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $894.0K | $-707.0K | ||
| Q3 25 | $-1.2M | $501.0K | ||
| Q2 25 | $4.1M | $1.2M | ||
| Q1 25 | $2.1M | $632.0K | ||
| Q4 24 | $2.3M | $-50.0K | ||
| Q3 24 | $1.1M | $912.0K | ||
| Q2 24 | $-4.8M | $1.2M | ||
| Q1 24 | $657.0K | $700.0K |
| Q4 25 | $801.0K | $-741.0K | ||
| Q3 25 | $-1.3M | $443.0K | ||
| Q2 25 | $3.8M | $1.1M | ||
| Q1 25 | $1.8M | $603.0K | ||
| Q4 24 | $2.2M | $-79.0K | ||
| Q3 24 | $978.0K | $873.0K | ||
| Q2 24 | $-4.8M | $1.1M | ||
| Q1 24 | $566.0K | $676.0K |
| Q4 25 | 8.3% | -12.3% | ||
| Q3 25 | -9.9% | 6.3% | ||
| Q2 25 | 48.5% | 17.5% | ||
| Q1 25 | 12.2% | 11.4% | ||
| Q4 24 | 18.3% | -1.2% | ||
| Q3 24 | 9.7% | 12.3% | ||
| Q2 24 | -49.8% | 17.2% | ||
| Q1 24 | 4.2% | 12.1% |
| Q4 25 | 1.0% | 0.6% | ||
| Q3 25 | 1.3% | 0.8% | ||
| Q2 25 | 3.0% | 0.5% | ||
| Q1 25 | 1.5% | 0.5% | ||
| Q4 24 | 0.6% | 0.4% | ||
| Q3 24 | 0.8% | 0.5% | ||
| Q2 24 | 0.7% | 1.0% | ||
| Q1 24 | 0.7% | 0.4% |
| Q4 25 | 14.42× | — | ||
| Q3 25 | -0.60× | 0.44× | ||
| Q2 25 | — | 2.10× | ||
| Q1 25 | 1.01× | 20.39× | ||
| Q4 24 | 1.77× | -0.05× | ||
| Q3 24 | 1.33× | 1.85× | ||
| Q2 24 | -4.98× | 2.39× | ||
| Q1 24 | 0.46× | 3.93× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MIND
Segment breakdown not available.
WFCF
| Verification And Certification Service Revenue | $5.0M | 83% |
| Other | $1.0M | 17% |
