EEGaming

MYND.AI REPORTS FIRST HALF 2026 RESULTS AS TURNAROUND GAINS MOMENTUM; ADJUSTED EBITDA IMPROVES 52%, OPERATING EXPENSES REDUCED 35%

Mynd.ai, Inc. (the "Company" or "Mynd.ai") (NYSE American: MYND), a global leader in interactive technology solutions for education and enterprise, today reported financial results for the first half of 2026, highlighting continued progress on its operational transformation, improved profitability metrics, and strengthened liquidity flexibility.

The first half of 2026 reflected continued execution against Mynd.ai's operating transformation: stronger gross margin, materially lower operating expenses, improved Adjusted EBITDA, and reduced cash used to fund operations, while the Company continued to build recurring revenue through services and software-as-a-service ("SaaS"). Management believes these actions are creating a more efficient operating model and positioning the Company to pursue sustainable growth as market conditions improve.

Key highlights for the first half of 2026 compared with the first half of 2025:

  • Gross margin expanded 220 basis points to 24% from 22% in the prior-year period

  • Total operating expenses reduced 35% to $31.5 million from $48.5 million in the prior-year period

  • Net loss narrowed 30% to $20.2 million from $28.9 million in the prior-year period

  • Adjusted EBITDA1 improved 52% to a loss of $9.1 million from a prior-year loss of $19.0 million

  • Net cash used in operating activities improved 36%, or $14.8 million, compared to the prior-year period

  • Free cash flow1 improved 36%, or $15.4 million, compared to the prior-year period

  • Service and SaaS revenue grew year-over-year, demonstrating continued momentum in recurring revenue streams despite lower total revenue in the period

"Our first half results show that our structural transformation is delivering measurable progress," said Arthur Giterman, Chief Executive Officer and Chief Financial Officer. "Despite a challenging demand environment across the education technology sector, we expanded gross margins, reduced operating expenses by 35%, narrowed net loss by 30%, improved Adjusted EBITDA by 52%, and significantly reduced operating cash usage. We remain focused on disciplined execution, liquidity management, and continued growth in our SaaS and services businesses."