Mynd announces fiscal year 2024 results

Highlights include sale of a non-strategic business unit, significant reduction of debt, and implementation of a share repurchase program to strengthen the company and enhance long term shareholder value  seattle , march 26, 2025 /prnewswire/ -- mynd.ai, inc. (the "company" or "mynd") (nyse american: mynd) today announced financial results for the fiscal year ended december 31, 2024. revenue of $267.4 million for the full year, compared to $411.8 million in the prior year with the decrease primarily driven by the headwinds in the overall education market due to normalization to pre-pandemic levels gross margin improved 40 basis points versus 2023 to 24.8%, largely due to optimization of cost of materials, warranty, and freight costs operating loss improved by $8.0 million to $38.0 million, as compared to $46.0 million in 2023 net loss from continuing operations, before income taxes totaled $35.7 million, a $12.7 million improvement compared to 2023 cash balance at year-end of $75.3 million, compared to $87.8 million in 2023 reduced outstanding indebtedness at year-end by $21.0 million repurchased 151,923 american depositary shares, representing 1,519,230 ordinary shares, pursuant to our share repurchase program "we are very pleased with the progress our team made during 2024, our first full year as a public company," said vin riera, chief executive officer.
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