Company overview

Mynd.ai, Inc.’s main business is supplying schools and learning centers with Promethean interactive displays, including ActivPanel, and teaching software. Its principal market is kindergarten through high school. Distributors and resellers buy its hardware and accessories, then serve schools that often need installation, training and support. Interactive displays generate most of the company’s revenue; software subscriptions such as ActivSuite and Explain Everything Advanced remain a small part of the business.

Most revenue comes from the United States, making school budgets and the timing of district purchasing important to sales. One customer accounts for a substantial share of revenue. The company also serves higher education, government and workplaces, but its plan to expand corporate sales depends partly on cash generated by education sales.

Mynd.ai does not manufacture the products it sells. It relies on outside manufacturers, with supply concentrated in two large suppliers. It also depends heavily on its majority shareholder, NetDragon, to fund supplier invoices and provide supply-chain support. Mynd.ai must reimburse NetDragon and remains responsible for paying suppliers if NetDragon does not pay on time.

Student-privacy rules constrain its use of student data. A U.S. national security agreement also generally bars Promethean from sharing certain protected data, including some U.S. personal information, with NetDragon, people in China or Mynd.ai itself, except for certain personnel who work for both companies.