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.
- 03/26/2025
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Promethean wins Tech & Learning Awards of Excellence: Best of 2024
- The company was recognized in the Secondary category for its dynamic Explain Everything Advanced lesson creation and delivery software for K-12 schools and students SEATTLE , March 6, 2025 /PRNewswire/ -- Promethean, a leading global tech company and brand owned by Mynd.ai, Inc. (NYSE American: MYND), won this year's Tech & Learning Awards of Excellence: Best of 2024 in the Secondary category from Tech & Learning magazine. The Tech & Learning Awards of Excellence team appoints a panel of judges to seek out innovative products offering school districts flexibility, value, and tailored solutions to help solve difficulties including decreased budget, less engaged students, and sustainable edtech options.
- 03/06/2025
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MYND Life Sciences Announces Shares for Debt Transaction
- Vancouver, British Columbia--(Newsfile Corp. - February 11, 2025) - MYND Life Sciences Inc. (CSE: MYND) (OTC Pink: MYNDF) ("MYND" or the "Company") a clinical-stage life sciences company committed to the development and commercialization of drug therapies and diagnostics to improve the monitoring and treatment of depression, today announced that it has entered into shares for debt agreements (the "Agreements"), to satisfy an aggregate of $2,273,062.30 of the Company's outstanding debt (the "Indebtedness") related to loan, fees including all principal, accrued and unpaid interest, costs payments outstanding. An aggregate of 22,730,623 common shares in the capital of the Company (the "Shares") at a deemed price of $0.10 per Share are proposed to be issued to the creditors.
- 02/11/2025
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MYND Life Sciences Announces the Issuance of 4,000,001 Shares at $0.71/share
- Vancouver, British Columbia--(Newsfile Corp. - January 17, 2025) - MYND Life Sciences (CSE: MYND) (OTC Pink: MYNDF) ("MYND" or the "Company") a clinical-stage life sciences company committed to the development and commercialization of drug therapies and diagnostics to improve the monitoring and treatment of depression, today announced that the Board has approved the issuance of 4,000,001 common shares at $0.71/share in relation to the settlement of the $3.5 Million (CDN) of debenture announced on January 10, 2025. "We are pleased to announce that instructions to issue 4,000,001 shares for a total value of $2,840,000.71 in settlement of the debenture has been completed.
- 01/17/2025
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MYND Life Sciences Announces Successful Conclusion of Debenture Settlement Agreement and Leadership Transition
- Vancouver, British Columbia--(Newsfile Corp. - January 10, 2025) - MYND Life Sciences (CSE: MYND) (OTC Pink: MYNDF) ("MYND" or the "Company") a clinical-stage life sciences company committed to the development and commercialization of a biomarker tool for monitoring depression, today announced that the application to end its debenture has been successfully accepted by both the debenture holders and the regulatory commission. This announcement confirms the removal of $3.5 Million (CDN) of debt from its balance sheet.
- 01/10/2025
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Mynd.ai's Promethean Brand to Release its Most Unified ActivPanel™ Experience yet with the Introduction of the ActivPanel 10 and Promethean ActivSuite™
- SEATTLE , Jan. 6, 2025 /PRNewswire/ -- Mynd.ai, Inc. ("Mynd" or the "Company") (NYSE American: MYND) today announced that its subsidiary, Promethean, has released its most anticipated, unified interactive flat panel display (IFPD) and software solution—the all-new ActivPanel 10 and Promethean ActivSuite. "Specifically designed to support freedom of choice, simplicity, and adaptability, the ActivPanel 10 and Promethean ActivSuite solution allows educators and business leaders to choose their preferred operating system and meet users exactly where they are when they need it, with no added hassle, stress, or complicated training," said Vin Riera, Mynd's Chief Executive Officer.
- 01/06/2025
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The most anticipated, unified experience of 2025 is here: Introducing ActivPanel 10 and Promethean ActivSuite™
- Promethean's most adaptable, compatible hardware and software solution is available now and will debut live internationally at FETC and Bett conferences in January. SEATTLE , Jan. 6, 2025 /PRNewswire/ -- Promethean, a leading global tech company and brand owned by Mynd.ai, Inc. (NYSE American: MYND), has released the most anticipated, unified interactive flat panel display (IFPD) and software solution in Promethean's line-up—the all-new ActivPanel 10 and Promethean ActivSuite.
- 01/06/2025
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MYND Life Sciences Announces Strategic Debt Reduction and New Board Member Appointment
- Vancouver, British Columbia--(Newsfile Corp. - November 22, 2024) - MYND Life Sciences (CSE: MYND) (OTCQB: MYNDF) ("MYND" or the "Company"), a leader in mental health diagnostics and treatments, today announced two significant strategic decisions aimed at strengthening the company's financial position and governance. These moves demonstrate a strong commitment to the company's vision and strategic plan to commercialize a diagnostic biomarker test for depression which is being initially developed for the purpose of diagnosing and monitoring those with major depressive disorder (MDD).
- 11/22/2024
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MYND Life Sciences Announces Proposed Share Issuance to Remove Debenture and $3.440 M in debt on business
- Vancouver, British Columbia--(Newsfile Corp. - November 12, 2024) - MYND Life Sciences (CSE: MYND) (OTCQB: MYNDF) ("MYND" or the "Company") a clinical-stage life sciences company committed to the development and commercialization of a biomarker tool for monitoring depression, today announced that subject to regulatory approval, it is proposing to issue 4 Million shares @ 0.71 per share to move $3.5 Million from its balance sheet, including the full restructure of an outstanding debenture on the business. "We are pleased to announce this important agreement to restructure our balance sheet to enhance both current and prospective shareholder value and to align with our strategic goals of optimizing our capital structure," MYND Life Sciences CEO, Colin Campbell commented.
- 11/12/2024
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Mynd.ai's Promethean Brand to Release Transformational New Technology in First Quarter of 2025
- SEATTLE , Nov. 4, 2024 /PRNewswire/ -- Mynd.ai, Inc. ("Mynd" or the "Company") (NYSE American: MYND) today announced that its subsidiary, Promethean, is set to launch its most adaptable interactive flat panel display (IFPD) and software solution—the Promethean ActivPanel 10 and Promethean ActivSuite™—in the first quarter of 2025. This next-gen experience is designed with choice and simplicity in mind, allowing schools, universities, and businesses to maximize learning and collaboration in various settings.
- 11/04/2024
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The ActivPanel 10 is coming: Promethean's next-gen experience is built with choice and simplicity in mind
- School, university, and business leaders now have the flexibility to choose their experience and maximize learning and collaboration in classrooms, teaching spaces, meeting rooms, or on the go with the most adaptable, easy-to-use solution. SEATTLE , Nov. 4, 2024 /PRNewswire/ -- Promethean, a leading global tech company and brand owned by Mynd.ai, Inc. (NYSE American: MYND), has announced the most adaptable interactive flat panel display (IFPD) and software solution in Promethean's line-up—the all-new ActivPanel 10 and Promethean ActivSuite™.
- 11/04/2024
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Mynd.ai Announces $10 Million Share Repurchase Program
- SEATTLE , Oct. 21, 2024 /PRNewswire/ -- Mynd.ai, Inc. ("Mynd" or the "Company") (NYSE American: MYND) today announced that the Company's Board of Directors has authorized the repurchase of up to $10 million of its American depositary shares ("ADSs") and/or ordinary shares as market conditions and the Company's liquidity warrant. "We are committed to delivering long-term value to our shareholders and we believe that the potential to repurchase our shares and ADSs at these levels represents a compelling opportunity to deploy available cash to do so," stated Vin Riera, Mynd's Chief Executive Officer.
- 10/21/2024
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Promethean wins Tech & Learning Awards of Excellence: Back to School 2024
- The company was recognized in the Primary category for its Explain Everything Advanced lesson creation and delivery software SEATTLE , Oct. 14, 2024 /PRNewswire/ -- Promethean, a leading global education technology company and brand owned by Mynd.ai, Inc. (NYSE American: MYND), won this year's Tech & Learning Awards of Excellence: Back to School 2024 in the Primary category from Tech & Learning magazine. Back for the 2024-25 school year, the Tech & Learning Awards of Excellence seek out the most outstanding products offering schools versatility, value, and solutions to specific problems to support innovative and effective teaching and learning.
- 10/14/2024
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Mynd.ai Closes $20 Million Sale of Non-strategic Business Unit and Announces Additional Strategic Actions to Enhance Operations, Strengthen Cash Position and Drive Long-Term Shareholder Value
- SEATTLE , Oct. 8, 2024 /PRNewswire/ -- Mynd.ai, Inc. ("Mynd" or the "Company") (NYSE American: MYND) today announced a series of strategic actions designed to enhance the Company's operations and drive long-term shareholder value, including the following: The sale, on October 2, 2024, of the Company's entire 85% ownership interest in its Singapore-based early childcare learning business for a total consideration of $20 million in cash. The redeployment of capital to enhance business development and future technology innovation to increase sales within its core markets.
- 10/08/2024
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Mynd Announces 2024 First Half Results
- Gross Margins Increased 100 Basis Points to 27.3% ; Adjusted EBITDA loss improved by $0.6 million SEATTLE , Aug. 29, 2024 /PRNewswire/ -- Mynd.ai, Inc. (the "Company" or "Mynd") (NYSE American: MYND) today announced financial results for the first half of 2024 (H1 2024). H1 2024 Key Financial Milestones Revenue of $166.0 million compared to $222.5 million for the same period in the prior year, with the decrease primarily driven by reduced spending by key customers due to uncertainty regarding future budget allocations Gross profit of $45.4 million, a 22.4% decline from $58.5 million in the same period in the prior year, driven by the year-over-year reduction in revenue.
- 08/29/2024
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Promethean's ActivPanel LX wins a Tech & Learning Best of Show Award at the ISTELive 24 edtech conference
- The ActivPanel LX with Google EDLA-certified OPS-A computing module is named one of the best edtech solutions for the classroom SEATTLE , July 26, 2024 /PRNewswire/ -- Promethean, a leading global education technology company and brand owned by Mynd.ai, Inc. (NYSE American: MYND), took home a Tech & Learning Best of Show Award during ISTELive 24 in Denver June 23-26 for its innovative ActivPanel LX interactive flat panel display (IFPD) and Google EDLA-certified OPS-A computing module. The Tech & Learning awards recognize edtech solutions that transform education across the globe.
- 07/26/2024
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Promethean's ActivPanel LX is honored by the 2024 EdTech Breakthrough Awards
- The company's flexible, secure, and affordable interactive display receives the prestigious "Classroom Tech Solution of the Year" award SEATTLE , June 6, 2024 /PRNewswire/ -- Promethean, a leading global education technology company and brand owned by Mynd.ai, Inc. (NYSE American: MYND), has been recognized by the 2024 EdTech Breakthrough Awards for its innovative ActivPanel LX interactive display. Winner of the "Classroom Tech Solution of the Year" award, ActivPanel LX is one of the most flexible, secure, and affordable interactive solutions on the market today.
- 06/06/2024
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Mynd Announces Fiscal Year 2023 Results
- Delivers Revenue of $413.6 Million and Successfully Completes Transformational Merger Transaction SEATTLE , March 27, 2024 /PRNewswire/ -- Mynd.ai, Inc. (the "Company" or "Mynd") (NYSE American: MYND) today announced financial results for the fiscal year ended December 31, 2023. Revenue of $413.6 million for the full year, compared to $584.6 million in the prior year with the decrease primarily driven by the normalization of the education market returning to pre-pandemic levels Gross Margin improved 30 basis points versus 2022 to 24.9%, largely due to lower materials and freight costs Cash flow from operations improvement of $3.0 million compared to 2022 Cash balance at year end was $91.8 million compared to $29.3 million at year end 2022 Adjusted EBITDA1 loss of $6.9 million compared to profit of $12.8 million in 2022, primarily driven by lower sales volumes "We are incredibly pleased with the progress our team made during 2023.
- 03/27/2024
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Promethean wins three Tech & Learning Awards of Excellence for 2023
- The company was recognized for its ActivPanel LX display, OPS-A computing module, and Explain Everything Advanced lesson creation and delivery software SEATTLE , Feb. 7, 2024 /PRNewswire/ -- Promethean, a leading global education technology company, received three Best of 2023 awards from Tech & Learning magazine. The company's ActivPanel LX interactive display, OPS-A computing module, and Explain Everything Advanced lesson creation and delivery software were recognized for providing exceptional support in the classroom for teachers and students.
- 02/07/2024
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Mynd.ai to Ring NYSE First Trade Bell on February 5th
- SEATTLE , Feb. 2, 2024 /PRNewswire/ -- Mynd.ai, Inc. ("Mynd" or the "Company") (NYSE American: MYND), today announced that Vin Riera, CEO, alongside members of Mynd's executive management team will ring the First Trade Bell at the New York Stock Exchange on Monday, February 5, 2024. The ceremony marks the successful completion of a merger on December 13, 2023, in which Promethean World Ltd.
- 02/02/2024
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Promethean introduces new game-changing whiteboard app at FETC 2024
- The Explain Everything Whiteboard will soon be included on every ActivPanel 9, giving teachers a powerful, easy-to-use tool to create and deliver engaging lessons SEATTLE , Jan. 24, 2024 /PRNewswire/ -- Promethean, a leading global education technology company, will showcase its new Explain Everything Whiteboard app at this year's Future of Education Technology Conference (FETC) in Orlando, Fla., January 23 – 26.
- 01/24/2024
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Mynd.ai, Inc. Consummates Merger Transaction
- SEATTLE , Dec. 13, 2023 /PRNewswire/ -- Mynd.ai, Inc. ("Mynd" or the "Company") (NYSE: MYND), is pleased to announce the successful completion of the merger transaction ("Merger Transaction") by which Gravitas Education Holdings, Inc. ("GEHI") acquired Elmtree Inc. ("eLMTree") from Best Assistant Education Online Limited, a subsidiary of NetDragon Websoft Holdings Limited (HKEX: 0777, "NetDragon"). In connection with the Merger Transaction, GEHI has changed its corporate name to "Mynd.ai, Inc." and its ticker symbol from "GEHI" to "MYND".
- 12/13/2023
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