Mind Gym
MIND · AIM · Industrial Goods and Services · mcap £5.3m · 5.2p 3 open situations →
- EV
- £5.6m
- EV / EBIT
- –
- Net debt
- £304k
- FCF yield
- -14.4%
- Revenue
- £29.9m
- Share price 1y
- −64%
- Insiders 12m
- no deals
- Next report
- around 24 Jun
Open · 3
Three-year transformation strategy
Three-year transformation strategy to move from episodic training to recurring, subscription-led revenue began October 2025. On 19 October 2026 the company said recurring license revenue grew 45% to £2.1m and 10x diagnostics launched. H1 FY27 revenue fell 15%, EBITDA loss widened and FY27 guidance was cut.
Next: half year results
- 19 Oct 2026 Year three; recurring revenue growing, trading weak
- 25 Jun 2026 Year two complete; year three under way
- 2 Apr 2026 Year two complete; H2 recovery under way
- 27 Jan 2026 Strategic review and offer period begun
Strategic review and possible offer
Led to Three-year transformation strategy – Year three; recurring revenue growing, trading weak
Board opened a private strategic review in January 2026 (adviser J Goodwin & Co) and an offer period began, with talks with selected third parties. Executive Chair Octavius Black stepped down on 3 August 2026. On 19 October 2026 the review was confirmed ongoing, with no outcome, offer or price, alongside a sharp cut to FY27 guidance.
- Leadership change
- Octavius Black CBE steps down as Executive Chair and from the Board due to ill health, effective 3 August 2026
- Interim Chair
- David Nelson, Non-Executive Director, chairs on an interim basis; new Chair process to follow
- Executive team
- CEO Christoffer Ellehuus continues; executive leadership unchanged
- Black's holding
- Remains one of the largest shareholders and confirms long-term commitment
- Status
- Review remains ongoing; discussions with selected third parties may result in an offer (confirmed 19 Oct 2026) 19 Oct 2026 ↗
- Offer
- No offer, price or bidder named 19 Oct 2026 ↗
Next: update to shareholders as appropriate; half year results
- 19 Oct 2026 Review ongoing; discussions with third parties continue
- 3 Aug 2026 Review ongoing; Chair departs; no outcome stated
- 25 Jun 2026 Review ongoing; talks with selected third parties
- 27 Jan 2026 Early-stage talks; offer period commenced
Possible offer
A bidder has made a possible offer for Mind Gym. The board is considering it.
- 25 Jun 2026 update
- 27 Jan 2026 approach
Company filings. Not investment advice.