Here are 1-3 brief analogies to describe MIND C.T.I.:

• A smaller, more specialized Amdocs, providing the critical billing and customer care software that telecommunication companies rely on.
• Imagine a B2B software company like Genesys or NICE, but entirely focused on supplying telecom operators with solutions for customer interaction, billing, and call center management.

• Billing and Customer Care Solutions: Comprehensive software suites designed for telecommunications and utility service providers to manage the entire customer lifecycle, including convergent billing, rating, and customer service operations.
• Messaging Solutions: Platforms and gateways providing SMS, MMS, and IP messaging capabilities for communication service providers and enterprises.

Major Customers of MIND C.T.I. (MNDO)

MIND C.T.I. (MNDO) operates primarily as a **business-to-business (B2B)** company, providing software solutions and products to other organizations rather than directly to individuals.

While the company's financial reports (such as its annual 20-F filing with the SEC) indicate a concentration of revenue from certain major customers (for example, one customer accounted for 14% of revenues in 2023 and another 11% in 2022), MIND C.T.I. generally **does not publicly disclose the specific names** of its major customers. This is a common practice for companies in the B2B software and telecommunications solutions sector to protect competitive information and client relationships.

Based on company descriptions, investor information, and product offerings, MIND C.T.I. serves the following categories of organizations:

• Telecommunication Service Providers: This is MIND C.T.I.'s core market. Their customers include wireline, wireless, broadband, and "quad-play" (combining mobile, fixed-line, internet, and TV services) operators globally. These providers, ranging from small to medium-sized regional carriers to some larger national service providers, utilize MNDO's billing, customer care, and messaging software solutions.
• Enterprises: MIND C.T.I. also offers its solutions to various enterprises that require sophisticated billing and customer care systems for their own services, subscription management, or internal communication operations.

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Ariel Glassner Chief Executive Officer

Ariel Glassner joined MIND C.T.I. as Chief Executive Officer in November 2024. He brings over 25 years of leadership experience, including CEO roles at startup companies during the last five years. Prior to MIND, he spent 15 years at Amdocs, where he led the implementation of complex solutions for major telecommunication operators, played a pivotal role in driving revenues, and oversaw transactions. He holds a BA in Business Management and Computer Science, and an MA in Political Science from Bar Ilan University.

Arie Abramovich Chief Financial Officer

Arie Abramovich rejoined MIND C.T.I. as Chief Financial Officer in December 2022. Before rejoining MIND, he served as Corporate Assistant Controller at Albaad Massuot Yitzhak LTD. From 2020 to 2021, Mr. Abramovich was MIND's Assistant Controller, and prior to that, he was a Senior Accountant at KPMG from 2017 to 2020. He is a Certified Public Accountant in Israel and holds a B.A. degree in Accounting from The Jerusalem School for Business Administration of the Hebrew University.

Monica Iancu Chairman

Monica Iancu founded MIND C.T.I. in 1995. She served as President and Chief Executive Officer of the company from its inception until April 2012, and also as Chairperson until April 2012. She became the Chairman of the board in October 2024. Monica holds a B.Sc. degree in Computer Science and a Master's degree in Telecommunications from the Technion, Israel Institute of Technology.

Liviu Serea General Manager Romania Office

Liviu Serea has served as General Manager of MIND C.T.I.'s Romania office since January 2001. Before joining MIND, he managed a local company involved in hardware assembly, distribution, and support for over five years. Liviu holds an M.Sc. degree in Electronics and Telecommunications from the Politechnic Institute, Iasi, Romania.

Shoval Cohen Nissan VP of Information Technology

Shoval Cohen Nissan joined MIND C.T.I. as IT Manager in December 1998 and was promoted to Vice President of IT in 2016. He leads the planning and management of the company's supporting infrastructure and implements network security company-wide. He also acts as Purchasing Manager for internal needs and customer solutions. Shoval holds a Practical Engineer degree from Braude College.

MIND C.T.I. (NASDAQ: MNDO) operates in several key markets, primarily offering solutions for telecom billing and customer care, as well as unified communications analytics and enterprise messaging.

The addressable market sizes for their main products and services are as follows:

• Telecom Billing & Revenue Management (including billing and customer care solutions for communication service providers): The global telecom billing and revenue management market was valued at approximately USD 18.22 billion in 2023 and is projected to grow to USD 36.41 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 10.45% during the forecast period of 2025-2030. North America held the largest revenue share in this market, accounting for 35.0% in 2023, with the U.S. representing 73.5% of the North American market in the same year. Other estimates place the global market at USD 22.26 billion in 2025, reaching USD 54.41 billion by 2034, growing at a CAGR of 10.44% from 2025 to 2034.
• Contact Center Software (encompassing various customer care solutions): The global contact center software market was valued at USD 41.9 billion in 2023 and is expected to reach USD 109.7 billion by 2028, growing at a CAGR of 21.2% from 2023 to 2028. Another report estimates the global market size at USD 72.62 billion in 2025, projected to reach USD 172.64 billion by 2030, at a CAGR of 18.91%. North America dominates this market, holding over 35% of the market share, with the U.S. accounting for 80.20% of the North American contact center software market in 2024.

For unified communications analytics and call accounting solutions for enterprises, and enterprise messaging solutions, specific, distinct addressable market sizes with global or regional figures were not clearly identifiable in the provided information.

Here are 3-5 expected drivers of future revenue growth for MIND C.T.I. (MNDO) over the next 2-3 years:

1. Strategic Investments to Address Market Needs: MIND C.T.I.'s management is focused on "strategic investments to address market needs" to navigate current market challenges and competition. This suggests ongoing efforts to adapt products and services to evolving customer demands.
2. Ongoing Growth Initiatives: The company has indicated "ongoing investments in growth initiatives" aimed at future revenue improvement, even if these initiatives are not expected to yield immediate returns within the current fiscal year.
3. Product Development and Enhancements: With a reported research and development growth of 2.9% in June 2025, MIND C.T.I. is likely investing in the improvement and expansion of its core product offerings. These include convergent end-to-end billing and customer care solutions, unified communications analytics, call accounting solutions, and enterprise messaging solutions, which are crucial for maintaining competitiveness and attracting new business.
4. Improved Performance and Focus on Enterprise Messaging and Call Accounting: While the customer care and billing software segment has faced challenges, the enterprise messaging and payment solutions, and enterprise call accounting software segments represent substantial portions of the company's revenue. Any strategic focus or improvement in these areas could drive future revenue growth.

Outbound Investments

• MIND C.T.I. acquired Aurenz GmbH in January 2025, a German provider of UC analytics and call accounting solutions, to enhance its product offerings and market position.

Capital Expenditures

• Capital expenditures were -$18,000 in the last 12 months (as of a recent report, likely in 2025).