Technology
MIND TECHNOLOGY, INC. REPORTS FISCAL 2027 FIRST QUARTER RESULTS
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3 months agoon
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THE WOODLANDS, Texas, June 10, 2026 /PRNewswire/ — MIND Technology, Inc. (NASDAQ: MIND) (“MIND” or the “Company”) today announced financial results for its fiscal 2027 first quarter ended April 30, 2026.
Revenues for the first quarter of fiscal 2027 were approximately $9.7 million compared to $9.8 million for the fourth quarter of fiscal 2026 and $7.9 million for the first quarter of fiscal 2026.
The Company reported operating income of $14,000 for the first quarter of fiscal 2027 compared to $78,000 for the fourth quarter of fiscal 2026 and an operating loss of $658,000 for the first quarter of fiscal 2026. Net loss for the first quarter of fiscal 2027 amounted to $411,000, or a loss of $0.05 per share, compared to a net loss of $271,000, or a loss of $0.03 per share, for the fourth quarter of fiscal 2026 and a net loss of $970,000, or a loss of $0.12 per share, for the first quarter of fiscal 2026. In computing net loss per common share, approximately 9,089,000 shares were outstanding for the first quarter of fiscal 2027, compared to 9,040,000 shares for the fourth quarter of fiscal 2026, and 7,969,000 shares during the first quarter of fiscal 2026.
Adjusted EBITDA for the first quarter of fiscal 2027 was $811,000 compared to Adjusted EBITDA of $1.1 million for the fourth quarter of fiscal 2026 and negative Adjusted EBITDA of $179,000 for the first quarter of fiscal 2026. Adjusted EBITDA, which is a non-GAAP measure, is defined and reconciled to reported net income (loss) and cash provided by (used in) operating activities in the accompanying financial tables. These are the most directly comparable financial measures calculated and presented in accordance with United States generally accepted accounting principles, or GAAP.
The backlog of Marine Technology Product orders related to our Seamap segment was approximately $7.6 million as of April 30, 2026 compared to $13.9 million at January 31, 2026 and $21.1 million at April 30, 2025.
Rob Capps, MIND’s President and Chief Executive Officer, stated, “Our first quarter results were consistent with our expectations, and we delivered another quarter of positive Adjusted EBITDA. Our after-market business remains a steady contributor that made up about 50% of our total revenue in this most recent quarter. This component of our business continues to provide a solid base of revenue.
“As we discussed last quarter, near-term visibility across our markets remains impacted by significant macro uncertainty, yet our conviction in MIND’s long-term prospects remains strong. Certain of our customers have seen an impact on their operations from the on-going conflict in the Middle East. Additionally, we believe that overall economic, security and political uncertainties are causing many, if not all, companies within the marine technology industry to be cautious in the near term. In our opinion, these factors are major contributors to our reduced near-term visibility. While we will likely see some operational softness in the very near-term, we believe the longer term outlook for the marine exploration and survey market is positive. Some of our customers are reporting increasing backlogs and many industry commentators predict a strong resurgence in marine exploration activity. These factors bode well for MIND’s longer-term outlook. Our financial position and liquidity remain strong. We believe we are well positioned to weather any near-term challenges and to take advantage of emerging opportunities.
“As we have stated previously, we are committed to enhancing stockholder value and are open to a variety of means to accomplish that objective. We continue to identify and evaluate a number of such opportunities and intend to maintain our disciplined approach. MIND has both the resources and the flexibility to act quickly and efficiently when the right opportunity arises,” concluded Capps.
CONFERENCE CALL
Management has scheduled a conference call for Thursday, June 11, 2026 at 9:00 a.m. Eastern Time (8:00 a.m. Central Time) to discuss the Company’s fiscal 2027 first quarter results. To access the call, please dial (412) 902-0030 and ask for the MIND Technology call at least 10 minutes prior to the start time. Investors may also listen to the conference live on the MIND Technology website, http://mind-technology.com, by logging onto the site and clicking “Investor Relations”. A telephonic replay of the conference call will be available through June 18, 2026, and may be accessed by calling (201) 612-7415 and using passcode 13760778#. A webcast archive will also be available at http://mind-technology.com shortly after the call and will be accessible for approximately 90 days. For more information, please contact Dennard Lascar Investor Relations by email at MIND@dennardlascar.com.
ABOUT MIND TECHNOLOGY
MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit designs, manufactures and sells specialized, high performance, marine exploration and survey equipment.
Forward-looking Statements
Certain statements and information in this press release concerning results for the quarter ended April 30, 2026 may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “plan,” “intend,” “should,” “would,” “could” or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. All comments concerning our expectations for future revenues and operating results are based on our forecasts of our existing operations and do not include the potential impact of any future acquisitions or dispositions. Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, without limitation, reductions in our customers’ capital budgets, our own capital budget, limitations on the availability of capital or higher costs of capital, and volatility in commodity prices for oil and natural gas.
For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, unless required by law, whether as a result of new information, future events or otherwise. All forward-looking statements included in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to herein.
Non-GAAP Financial Measures
Certain statements and information in this press release contain non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with United States generally accepted accounting principles, or GAAP. Company management believes that these non-GAAP financial measures, when considered together with the GAAP financial measures, provide information that is useful to investors in understanding period-over-period operating results separate and apart from items that may, or could, have a disproportionately positive or negative impact on results in any particular period. Company management also believes that these non-GAAP financial measures enhance the ability of investors to analyze the Company’s business trends and to understand the Company’s performance. In addition, the Company may utilize non-GAAP financial measures as guides in its forecasting, budgeting, and long-term planning processes and to measure operating performance for some management compensation purposes. Any analysis of non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP.
Adjusted EBITDA, which is a non-GAAP measure, is defined and reconciled to reported net income from continuing operations and cash used in operating activities in the accompanying financial tables. These are the most directly comparable financial measures calculated and presented in accordance with United States generally accepted accounting principles, or GAAP.
Reconciliation of Backlog, which is a non-GAAP financial measure, is not included in this press release due to the inherent difficulty and impracticality of quantifying certain amounts that would be required to calculate the most directly comparable GAAP financial measures.
-Tables to Follow-
MIND TECHNOLOGY, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except per share data)
(unaudited)
April 30,
2026
January 31,
2026
ASSETS
Current assets:
Cash and cash equivalents
$
17,656
$
19,050
Accounts receivable, net of allowance for credit losses of $332 at each of April 30, 2026
and January 31, 2026
16,515
12,570
Inventories, net
10,977
11,150
Prepaid expenses and other current assets
1,593
2,114
Total current assets
46,741
44,884
Property and equipment, net
1,196
1,235
Operating lease right-of-use assets
910
1,092
Intangible assets, net
1,614
1,753
Deferred tax asset
302
302
Total assets
$
50,763
$
49,266
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable
$
1,499
$
1,214
Deferred revenue
598
320
Customer deposits
901
971
Accrued expenses and other current liabilities
2,610
1,596
Income taxes payable
2,721
2,656
Operating lease liabilities – current
655
686
Total current liabilities
8,984
7,443
Operating lease liabilities – non-current
255
406
Total liabilities
9,239
7,849
Stockholders’ equity:
Common stock, $0.01 par value; 40,000 shares authorized; 9,089 shares issued and
outstanding at April 30, 2026 and at January 31, 2026
91
91
Additional paid-in capital
149,508
148,990
Accumulated deficit
(108,109)
(107,698)
Accumulated other comprehensive gain
34
34
Total stockholders’ equity
41,524
41,417
Total liabilities and stockholders’ equity
$
50,763
$
49,266
MIND TECHNOLOGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
For the Three Months Ended April
30,
2026
2025
Revenues:
Sales of marine technology products
$
9,672
$
7,902
Cost of sales:
Sales of marine technology products
5,575
4,571
Gross profit
4,097
3,331
Operating expenses:
Selling, general and administrative
3,545
3,384
Research and development
310
380
Depreciation and amortization
228
225
Total operating expenses
4,083
3,989
Operating income (loss)
14
(658)
Other income (expense):
Other, net
51
(18)
Total other income (expense)
51
(18)
Income (loss) before income taxes
65
(676)
Provision for income taxes
(476)
(294)
Net loss
$
(411)
$
(970)
Net loss per common share – Basic and diluted
$
(0.05)
$
(0.12)
Shares used in computing net loss per common share:
Basic and diluted
9,089
7,969
MIND TECHNOLOGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
For the Three Months Ended April
30,
2026
2025
Cash flows from operating activities:
Net loss
$
(411)
$
(970)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization
228
225
Stock-based compensation
518
272
Provision for inventory obsolescence
—
15
Changes in:
Accounts receivable
(3,961)
3,969
Unbilled revenue
17
16
Inventories
172
282
Prepaid expenses and other current and long-term assets
521
(92)
Income taxes receivable and payable
65
208
Accounts payable, accrued expenses and other current liabilities
1,713
(386)
Deferred revenue and customer deposits
(208)
529
Net cash (used in) provided by operating activities
(1,346)
4,068
Cash flows from investing activities:
Purchases of property and equipment
(48)
(237)
Net cash used in investing activities
(48)
(237)
Cash flows from financing activities:
Net cash provided by financing activities
—
—
Effect of changes in foreign exchange rates on cash and cash equivalents
—
5
Net change in cash and cash equivalents
(1,394)
3,836
Cash and cash equivalents, beginning of period
19,050
5,336
Cash and cash equivalents, end of period
$
17,656
$
9,172
MIND TECHNOLOGY, INC.
Reconciliation of Net Loss and Net Cash (Used in) Provided by Operating Activities to EBITDA and
Adjusted EBITDA
(in thousands)
(unaudited)
For the Three Months Ended April
30,
2026
2025
Reconciliation of Net loss to EBITDA and Adjusted EBITDA
Net loss
$
(411)
$
(970)
Depreciation and amortization
228
225
Provision for income taxes
476
294
EBITDA (1)
293
(451)
Stock-based compensation
518
272
Adjusted EBITDA (1)
$
811
$
(179)
Reconciliation of Net Cash (Used in) Provided by Operating Activities to EBITDA
Net cash (used in) provided by operating activities
$
(1,346)
$
4,068
Stock-based compensation
(518)
(272)
Provision for inventory obsolescence
—
(15)
Changes in accounts receivable
3,944
(3,985)
Taxes paid, net of refunds
411
80
Changes in inventory
(172)
(282)
Changes in accounts payable, accrued expenses and other current liabilities, deferred revenue
and customer deposits
(1,505)
(143)
Changes in prepaid expenses and other current and long-term assets
(521)
92
Other
—
6
EBITDA (1)
$
293
$
(451)
1.
EBITDA and Adjusted EBITDA are non-GAAP financial measures. EBITDA is defined as net income before (a) interest income and interest expense, (b) provision for (or benefit from) income taxes and (c) depreciation and amortization. Adjusted EBITDA excludes non-cash foreign exchange gains and losses, stock-based compensation, impairment of intangible assets and other non-cash tax related items. We consider EBITDA and Adjusted EBITDA to be important indicators for the performance of our business, but not measures of performance or liquidity calculated in accordance with GAAP. We have included these non-GAAP financial measures because management utilizes this information for assessing our performance and liquidity, and as indicators of our ability to make capital expenditures, service debt and finance working capital requirements and we believe that EBITDA and Adjusted EBITDA are measurements that are commonly used by analysts and some investors in evaluating the performance and liquidity of companies such as us. In particular, we believe that it is useful to our analysts and investors to understand this relationship because it excludes transactions not related to our core cash operating activities. We believe that excluding these transactions allows investors to meaningfully trend and analyze the performance of our core cash operations. EBITDA and Adjusted EBITDA are not measures of financial performance or liquidity under GAAP and should not be considered in isolation or as alternatives to cash flow from operating activities or as alternatives to net income as indicators of operating performance or any other measures of performance derived in accordance with GAAP. In evaluating our performance as measured by EBITDA, management recognizes and considers the limitations of this measurement. EBITDA and Adjusted EBITDA do not reflect our obligations for the payment of income taxes, interest expense or other obligations such as capital expenditures. Accordingly, EBITDA and Adjusted EBITDA are only two of the measurements that management utilizes. Other companies in our industry may calculate EBITDA or Adjusted EBITDA differently than we do and EBITDA and Adjusted EBITDA may not be comparable with similarly titled measures reported by other companies.
Contacts:
Rob Capps, President & CEO
MIND Technology, Inc.
281-353-4475
Ken Dennard / Zach Vaughan
Dennard Lascar Investor Relations
713-529-6600
View original content:https://www.prnewswire.com/news-releases/mind-technology-inc-reports-fiscal-2027-first-quarter-results-302797087.html
SOURCE MIND Technology, Inc.
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Stowers Institute partners with Google DeepMind and leading research institutions to help reveal the regulatory language of the human genome
Published
10 minutes agoon
September 9, 2026By
Researchers provided biological expertise and feedback that helped guide the development of a new AI-powered resource released today. For the first time, scientists can explore a comprehensive map of more than 9 billion possible single-letter DNA changes through a web browser, helping them more quickly prioritize and interpret variants that may influence biology and disease and lay groundwork for future treatments.
KEY HIGHLIGHTS
Developed over several years, AlphaGenome Atlas is a one-petabyte dataset containing molecular-effect predictions for more than 9 billion possible single-letter DNA changes across the human genome.Until now, researchers lacked a single resource that could both rank variants across the genome and reveal the biological processes they are predicted to disrupt, a combination that could accelerate foundational discoveries, disease research and the search for therapeutic targets.Researchers from Google DeepMind, the Stowers Institute for Medical Research, Broad Institute, the University of Exeter, Memorial Sloan Kettering Cancer Center and Stanford University contributed scientific input and explored applications of the resource.
KANSAS CITY, Mo., Sept. 8, 2026 /PRNewswire/ — The human genome contains approximately 3 billion DNA letters, creating more than 9 billion possible single-letter changes. Testing the effects of each change in a laboratory would be practically impossible. Google DeepMind’s new AlphaGenome Atlas, available beginning today, gives scientists a comprehensive, searchable resource designed to accelerate understanding of the human genome.
The one-petabyte resource contains artificial intelligence-generated predictions for the molecular effects of more than 9 billion possible changes, creating what Google DeepMind describes as the most comprehensive catalogue of its kind.
Stowers Institute for Medical Research Investigator Julia Zeitlinger, Ph.D., partnered with the Google DeepMind team led by Vice President of Science and Chief Scientist Žiga Avsec, Ph.D., to map and interpret the patterns in DNA that regulate biological processes inside cells. At the same time, additional scientific collaborators from leading institutions across the United States and England helped test how the new resource could be used to identify impactful genetic variation in humans. The work is now available as a preprint on bioRxV.
Zeitlinger has made significant contributions to the field of gene regulation and computational biology. In 2019, in an international collaboration that included Avsec, Zeitlinger and her team at the Stowers Institute developed a powerful AI framework, BPNet. This framework is now widely used to extract and dissect the DNA sequences that explain genome-wide biological data. Just last month, her lab unveiled a new AI method, PISA, which generates high-resolution visualizations of what AI models have learned from DNA.
Stowers Institute Bioinformatics Scientist and Zeitlinger Lab member, Melanie Weilert, served as a lead author on the AlphaGenome project. With her deep expertise in interpretating AI models, she helped build the AlphaGenome Atlas resource to ask one of biology’s biggest questions: How does a cell know which genes to turn on and off?
“This is a very difficult problem because every cell type speaks a slightly different language, making it hard to know which rules are general,” Zeitlinger said. “With AlphaGenome, we can quickly query many cell types and look for general patterns by which genes are activated and repressed.”
Google DeepMind developed the technology behind the Atlas. Zeitlinger, who also leads the Stowers Institute’s AI Initiative, helped connect its predictions to the biological processes that give cells their identities and allow them to function.
“AlphaGenome Atlas is a powerful example of how AI can expand human knowledge and advance scientific discovery,” said VP Science, Google DeepMind and Chief Scientist, Google Cloud, Pushmeet Kohli, Ph.D. “By making this resource widely available, we hope scientists around the world can use it to better understand the language of life and what happens when individual letters in the human genome change.”
Scientists can access the resource through a web browser without writing code, allowing more researchers to explore genetic variation at a scale that was not previously possible.
“AlphaGenome Atlas is foundational research with the potential to have an impact across multiple areas of biology,” said Avsec. “We worked with experts in the field, including Julia, whose biological insight helped us explore how the resource can map functional elements in the genome and reveal their roles at the molecular level.”
How Stowers scientists helped reveal the regulatory “words” of the genome
Every cell in the human body contains essentially the same DNA, yet different cells use that information in very different ways. Short DNA sequences called motifs act as regulatory instructions, helping control which genes are active, when they are activated and how strongly they operate.
Zeitlinger and her team used AlphaGenome Atlas to analyze regulatory motifs across the genome and determine what they reveal about the proteins, called transcription factors, that control gene activity. The researchers categorized these regulatory signals by function, distinguishing transcription factors that change whether DNA is accessible from those that also activate or repress genes.
Conducting this type of analysis experimentally across thousands of sites and many different cell types would require enormous time and resources. By making genome-wide predictions available in one searchable resource, the Atlas allowed Zeitlinger’s team to identify broader patterns in how genes are regulated and begin defining the general rules underlying the regulatory language of DNA.
“Having these motifs mapped at base-pair resolution across the genome and in many cell types gives us a searchable dictionary for non-coding DNA,” Zeitlinger said. “By giving the scientific community access to these predictions, AlphaGenome Atlas can accelerate how we identify potentially disease-causing variants while helping us understand the fundamental rules by which genes are regulated.”
“This collaboration demonstrates how Stowers scientists are helping shape emerging technologies, not simply adopting them,” said Stowers Institute President and Chief Scientific Officer Alejandro Sánchez Alvarado, Ph.D. “By pairing deep biological knowledge with the capabilities of AI, researchers can ask questions at a scale that was not previously possible and create new opportunities to more clearly understand human health and disease.”
The Atlas does not replace laboratory research. Instead, it can help scientists determine which variants and biological mechanisms should be investigated first, focusing experimental time and resources on the most promising questions.
“Tools such as AlphaGenome Atlas become most valuable when their predictions can be connected to meaningful biological questions,” said Stowers Institute Scientific Director Kausik Si, Ph.D. “Julia’s work brings together deep expertise in gene regulation and computational biology to help move us from simply reading DNA sequence toward understanding the rules that control gene activity.”
From billions of variants to focused biological questions
AlphaGenome Atlas contains thousands of molecular-effect predictions for each variant across hundreds of human cell types and tissues. These predictions contribute to the new AlphaGenome Variant Impact, or AVI, score. They also enabled researchers to identify and map recurring DNA motifs, short sequences where transcription factors bind to help control gene activity.
The AVI score brings together predictions from AlphaGenome, AlphaMissense and evolutionary conservation data. It gives researchers a single measure for ranking variants by their potential impact across protein-coding and non-coding regions of the genome. Researchers can then examine which molecular processes, including gene expression, RNA splicing and protein function, are predicted to be affected.
The collaborating institutions explored how the resource could support several areas of human genetic research. Scientists at the Broad Institute used the AVI score to prioritize a previously overlooked non-coding variant associated with an unsolved rare disease case. At the University of Exeter, researchers applied Atlas to genomic data from more than 54,000 UK Biobank participants, uncovering additional associations between rare noncoding variants and protein levels.
Watch a video from Google DeepMind and read a blog post announcing AlphaGenome Atlas.
Learn more and watch a tutorial of AlphaGenome Atlas
AlphaGenome Atlas is available for non-commercial use through Google DeepMind’s website at deepmind.google.com/science/alphagenome/atlas. Its predictions are intended to support research and have not been validated or approved for clinical use.
About the Stowers Institute for Medical Research
Founded in 1994 through the generosity of Jim Stowers, founder of American Century Investments, and his wife, Virginia, the Stowers Institute for Medical Research is a nonprofit, biomedical research organization with a focus on foundational research. Its mission is to expand our understanding of the secrets of life and improve life’s quality through innovative approaches to the causes, treatment, and prevention of diseases.
The Institute consists of 24 independent research programs. Of the approximately 500 members, over 370 are scientific staff that include principal investigators, fellows, technology center directors, postdoctoral scientists, graduate students, and technical support staff. Learn more about the Institute at stowers.org and about its graduate program at stowers.org/gradschool.
Read an online version of the release here.
Media contact
Joe Chiodo
Director of Communications
Stowers Institute for Medical Research
724-462-8529
chiodo.joe@stowers.org
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SOURCE Stowers Institute for Medical Research
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The Inner Circle acknowledges Daniel Beer as a Pinnacle Professional Member Inner Circle of Excellence
Published
1 hour agoon
September 8, 2026By
NEW YORK, Sept. 8, 2026 /PRNewswire/ — Prominently featured in The Inner Circle, Daniel Beer is acknowledged as a Pinnacle Professional Member Inner Circle of Excellence for his contributions to Information Technology and Artificial Intelligence.
Daniel Beer has built a distinguished career as a technology executive, entrepreneur, and innovator dedicated to helping organizations harness technology to achieve sustainable growth and meaningful collaboration. As founder and chief executive officer of Trusted Associates and chief executive officer of Freeman and Clarke Inc., he leads initiatives that combine strategic technology leadership with emerging innovations in artificial intelligence and digital transformation.
Mr. Beer specializes in information technology strategy, platform development, organizational modernization, digital infrastructure, and fractional chief information officer and chief technology officer services. Through Freeman and Clarke Inc., he provides executive technology leadership that enables organizations to align technology investments with long term business objectives. At Trusted Associates, he focuses on developing collaborative technology platforms, cultivating strategic partnerships, creating innovative applications, and making investments in artificial intelligence companies that advance practical, real world solutions.
Mr. Beer earned a Bachelor of Music Education from the University of Sydney in 1997 before completing an equivalency certification for a Bachelor of Applied Science in Computer Science through the University of Maryland in 2012. His unique educational background combines creativity with technical expertise, allowing him to approach technology challenges with both analytical precision and innovative thinking.
Throughout his career, Mr. Beer has consistently demonstrated visionary leadership. He founded Techknowledgy Group at the age of 20 and successfully grew the company into a respected managed services provider over a fifteen year period. Later, as Chief Information Officer for the New York Hotel Trades Council, he led the modernization of the organization’s information systems and digital infrastructure, significantly improving operational efficiency and technology capabilities. Today, he continues expanding his influence through leadership roles with Trusted Associates, Freeman and Clarke Inc., and as an investor and advisory board member for Relate Research and Technology Company.
His professional accomplishments have earned recognition through inclusion in Marquis Who’s Who Top Executives, honoring his leadership, innovation, and contributions to the field of information technology.
Outside of his professional endeavors, Mr. Beer enjoys singing in church choirs, supporting personal development programs, and participating in animal rescue efforts, including fostering and rescuing dogs alongside his family. He credits the mentors who invested in his growth without expecting anything in return for shaping both his leadership philosophy and his commitment to serving others.
Looking ahead, Mr. Beer plans to continue advancing technology solutions that promote global collaboration while pursuing initiatives that improve literacy, raise awareness of neurodiversity, reduce incarceration rates, and create opportunities that benefit society as a whole. He remains committed to using innovation as a force for positive change.
Guided by his W5 philosophy, Mr. Beer believes true success is measured by helping others succeed. Through collaboration, communication, service, and innovation, he continues to build organizations and technologies that create lasting value for clients, communities, and future generations.
Contact: Katherine Green, 516-825-5634, editorialteam@continentalwhoswho.com
View original content:https://www.prnewswire.com/news-releases/the-inner-circle-acknowledges-daniel-beer-as-a-pinnacle-professional-member-inner-circle-of-excellence-302872896.html
SOURCE The Inner Circle
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Thoma Bravo Announces Strategic Growth Investment in Tanda
Published
1 hour agoon
September 8, 2026By
Investment to accelerate Tanda’s product innovation and global growth
BRISBANE, Australia and SAN FRANCISCO, Sept. 8, 2026 /PRNewswire/ — Thoma Bravo, the world’s largest software-focused investment firm, today announced a strategic growth investment in Tanda, a leading workforce management, payroll and HR platform for shift-based workers. Thoma Bravo’s investment will support Tanda’s continued product innovation, including the company’s AI roadmap and its expansion into new markets. Tanda’s co-founders will remain significant shareholders and will continue to lead the company, with Jake Phillpot remaining Chief Executive Officer. Terms of the transaction were not disclosed.
Tanda is the market leader in workforce management for shift-based employers, serving approximately 8,000 businesses globally across hospitality, retail, quick-service restaurants, healthcare and other frontline industries. Tanda’s integrated workforce management platform combines employee recruiting, onboarding, rostering, time and attendance, gross wage calculations and payroll on a single codebase. This natively built product suite enables employers in complex, highly regulated markets to manage compliance and ensure employees are paid accurately. Trusted by thousands of organizations, Tanda’s platform powers the daily operations of some of the most demanding frontline businesses in the world.
“Taking on an investor was a very big decision for Tanda,” said Jake Phillpot, Co-Founder & Chief Executive Officer of Tanda. “We’ve been a bootstrapped company with no outside capital since we were founded 14 years ago. What started as an idea when we were still housemates at university has become a global business that we have built without taking shortcuts. Through a lot of hard work, we have market-leading products, growing market share and so much more room to grow. We thought the time was right to take on our first investor.”
“Thoma Bravo was the obvious choice as our financial partner,” Phillpot continued. “They understand software at an extraordinary level, have spent decades helping companies like ours scale and share our ambition for what Tanda can become. By partnering with the world’s number one software investor, we intend to become the global category leader in our space. Most importantly, the things that make Tanda precious won’t change. The founders will still come to work every day, and we’ll still obsess over how we can make our products better for our customers.”
“Managing and compensating employees accurately is a fundamental obligation of all employers, yet it remains a universal challenge, particularly for businesses with shift-based employees,” said Carl Press, a Partner at Thoma Bravo. “Employers are frustrated by a patchwork of legacy systems that cannot address their complex needs and expose them to operational and legal risks. Jake and his co-founders identified this problem and built Tanda from the ground up with customers and their employees at the center of every product decision. In doing so, they’ve laid the groundwork to become the definitive AI-native workforce management solution in the shift-based economy. We couldn’t be more thrilled to help them drive the next chapter of accelerated growth and innovation.”
“Tanda has everything we look for in an investment: market leadership, a fiercely loyal customer base and a product-first founding team with deep domain expertise,” said Adam Kinalski, a Principal at Thoma Bravo. “Jake and his co-founders have built a rare business that matches strong product-market fit with exceptional operational execution. We’re excited to partner with them on their mission to make Tanda the global standard in workforce management and payroll software for shift-based employers.”
Barrenjoey Advisory Pty Ltd is serving as financial advisor to Tanda, and SBA Law is serving as legal counsel. Piper Sandler & Co. is serving as exclusive financial advisor to Thoma Bravo, and Kirkland & Ellis LLP and Allens are serving as legal counsel.
About Thoma Bravo
Thoma Bravo is the world’s largest software-focused investment firm, with approximately $170 billion in assets under management as of June 30, 2026. Partnering with some of the world’s most sophisticated investors, Thoma Bravo’s private equity and private credit platforms reflect a focused investment strategy, supported by disciplined execution, deep sector expertise and leadership continuity. Over the past 20-plus years, Thoma Bravo has acquired or invested in approximately 600 software and technology companies, representing more than $325 billion of aggregate enterprise value (including control and non-control investments, as well as add-on acquisitions). Learn more at thomabravo.com and on LinkedIn.
About Tanda
Founded in 2012 and headquartered in Brisbane, Australia, Tanda (operating internationally as Workforce.com) is an all-in-one payroll, HR and workforce management system for businesses with shift-based and hourly workforces. Tanda’s platform brings rostering, time and attendance, award interpretation, compliance, payroll and HR onboarding together in a single system, helping employers in hospitality, retail, healthcare and other frontline industries schedule efficiently and pay employees accurately. The company serves thousands of customers across Australia, North America, the United Kingdom and Southeast Asia. For more information, visit tanda.co.
For Thoma Bravo
Abby Farr
Vice President, Communications & Marketing
+1 646-957-2067
afarr@thomabravo.com
For Tanda
Georgie Pollok
Head of Marketing
media@tanda.com.au
View original content to download multimedia:https://www.prnewswire.com/news-releases/thoma-bravo-announces-strategic-growth-investment-in-tanda-302872908.html
SOURCE Thoma Bravo
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