YOQNEAM, Israel, May 11, 2026 (GLOBE NEWSWIRE) -- MIND C.T.I. LTD. - (NasdaqGM: MNDO), a leading provider of convergent end-to-end prepaid/postpaid billing and customer care product based solutions for service providers, unified communications (UC) analytics for enterprises as well as enterprise messaging solutions, today announced results for its first quarter ended March 31, 2026.
The following will summarize our major achievements in the first quarter of 2026, as well as our business. The financial results can be found in the Company News section of our website at http://www.mindcti.com/company/news/ and in our Form 6-K.
Financial Highlights
- Revenues were $5.1 million, compared with $5.0 million in the first quarter of 2025.
- Operating income was $0.9 million, or 18% of total revenues, compared with $0.4 million, or 7% of total revenues in the first quarter of 2025.
- Net income was $0.9 million, or $0.04 per share, compared with $0.5 million, or $0.02 per share in the first quarter of 2025.
- Cash flow from operating activities was $0.6 million, compared with $0.7 million in the first quarter of 2025.
- Cash position was $13.8 million as of March 31, 2026
Ariel Glassner, MIND CTI's Chief Executive Officer, commented: "In the first quarter of 2026, our revenues remained at a similar level compared to the first quarter of last year. The higher net income is attributed to an allowance to credit loss that was recorded in the first quarter of 2025. The market environment remains challenging, with increased ongoing price pressures. One of our major customers notified us regarding non-renewal effective March 2027, which is expected to negatively impact our revenues and income. At the same time, we continue to evaluate new opportunities and enhance our offering, including cloud, 5G, and AI capabilities, while maintaining a strong engineering foundation to support our customers."
Revenue Distribution
Revenues in Europe represented 63% (including the messaging segment revenues in Germany, which represented 34%), the Americas represented 32%, and the rest of the world represented 5% of total revenues.
Revenues from our customer care and billing software were $2.2 million, or 44% of total revenues, enterprise messaging were $1.7 million, or 34%, and enterprise UC analytics software were $1.1 million, or 22% of total revenues. The increase was mainly attributed to significant upgrades with two UC analytics customers.
Revenues from maintenance and additional services were $4.7 million, or 93% of total revenues, while licenses were $0.3 million, or 7% of total revenues.
Buyback Update
As previously announced, MIND's Board of Directors authorized a new share repurchase plan on November 12, 2025, allowing the Company to repurchase ordinary shares in the open market for up to $2.4 million in cash. As of March 31, 2026, MIND had purchased a total of 278 thousand shares for total consideration of approximately $331 thousand.
Under the repurchase program, share purchases may be made from time to time, depending on market conditions, share price, trading volume, and other factors. The repurchase program may be suspended from time to time or discontinued.
AGM and Board of Directors Update
The company held its Annual General Meeting of Shareholders on May 6, 2026.
The following proposed resolutions were approved:
- to re-appoint Fahn Kanne & Co. Grant Thornton Israel as the Company's independent auditor until the close of the following Annual General Meeting and to authorize the Board of Directors of the Company to determine its remuneration or to delegate the Audit Committee thereof to do so;
- to re-elect Mr. Itay Barzilay as a Class II director of the Company until the close of 2029 Annual General Meeting of Shareholders of the Company; and
- to elect Mr. Asher Mechlovich as a Class II director of the Company until the close of 2029 Annual General Meeting of Shareholders of the Company.
About MIND
MIND CTI Ltd. is a leading provider of convergent end-to-end billing and customer care product-based solutions for service providers, unified communications analytics for enterprises as well as enterprise messaging solutions. MIND provides a complete range of billing applications for any business model (license, SaaS, managed service or complete outsourced billing service) for Wireless, Wireline, Cable, IP Services and Quad-play carriers. A global company, with over thirty years of experience in providing solutions to carriers and enterprises, MIND operates from offices in Israel, Romania, Germany and the United States.
Cautionary Statement for Purposes of the "Safe Harbor" Provisions of the Private Securities Litigation Reform Act of 1995: All statements other than historical facts included in the foregoing press release regarding the Company's business strategy are "forward-looking statements," expectations of the results of the Company's business optimization initiative, integration of the company's acquisitions and its projected outlook and results of operations. These statements are based on management's beliefs and assumptions and on information currently available to management. Forward-looking statements are not guarantees of future performance, and actual results may materially differ. The forward-looking statements involve risks, uncertainties, and assumptions, including, but not limited to, economic conditions in our key markets, as well as the risks discussed in the Company's annual report and other filings with the United States Securities Exchange Commission. The Company does not undertake to update any forward-looking information.
For more information please contact:
Janice Kaye
MIND C.T.I. Ltd.
Tel: +972-4-993-6666
investor@mindcti.com
