HYFT

MKT CAP:$58M

MindWalk Holdings Corp.

Market Cap

$58M

Healthcare·Biotechnology·🇨🇦 Canada·NASDAQ

Healthcare·Biotechnology·🇨🇦·NASDAQ

Stock Price

$1.20-$0.82 (-40.59%)

Apr 23, 2026

Company Details

MindWalk Holdings Corp. operates as a bio-native AI company. It focuses on the integration of artificial intelligence, multi-omics data, and advanced laboratory research to accelerate the discovery and development of biologics. The company,...

CEO

Jennifer Lynne Bath

IPO Date

Jan 7, 2002

Website

www.mindwalkai.com

Key Metrics TTM

Revenue

$12M

— YoY

Net Income

-$15M

EPS (Diluted)

-$0.54

Free Cash Flow

-$17M

Revenue / Share

$0.26

Gross Margin

10.1%

Operating Margin

-130.5%

Net Margin

-119.4%

FCF Margin

-140.1%

P/S

4.7x

P/E

—

Earnings Reports

Q3 2026

Mar 12, 2026

$3MEPS -$0.06

Q1 2026

Sep 15, 2025

$2MEPS -$0.05

Q1 2023

Jul 30, 2022

$3MEPS -$0.28

Q3 2022

Jan 30, 2022

$4MEPS -$0.15

FY 2021

Jul 28, 2021

$13MEPS -$0.33

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 19	$2M	$78.2K	-$608.6K
Q3 20	$3M	$202.9K	-$152.9K
Q2 21	$3M	$17.9K	-$2M
Q3 22	$4M	-$244.1K	-$3M
Q1 23	$3M	-$1M	-$7M
Q1 26	$2M	$1M	-$3M
Q3 26	$3M	$2M	-$3M

Valuation

Quarter	P/S	P/E
Q1 19	—	—
Q3 20	—	—
Q2 21	—	—
Q3 22	9.9x	—
Q1 23	8.3x	—
Q1 26	5.2x	—
Q3 26	6.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 19	-$117.0K	-$134.7K
Q3 20	-$30.9K	-$232.6K
Q2 21	$321.7K	-$201.0K
Q3 22	-$4M	-$4M
Q1 23	-$8M	-$8M
Q1 26	-$3M	-$3M
Q3 26	-$2M	-$2M

Capital Expenditures

Quarter	CapEx
Q1 19	$17.6K
Q3 20	$201.7K
Q2 21	$522.7K
Q3 22	$345.7K
Q1 23	$65.0K
Q1 26	$206.1K
Q3 26	$22.3K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+63.1%	+296.4%
Q1 26	-21.7%	+72.3%
Q3 26	-14.3%	+11.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 19	$227.8K	10.9%
Q3 20	$104.6K	3.5%
Q2 21	$348.3K	10.0%
Q3 22	$359.5K	10.2%
Q1 23	$554.7K	16.2%
Q1 26	$40.2K	1.7%
Q3 26	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 19	$23.2K	—	—	$663.6K
Q3 20	$39.8K	—	—	$316.1K
Q2 21	$770.0K	—	—	$790.7K
Q3 22	$1M	—	—	$1M
Q1 23	$4M	—	—	$2M
Q1 26	$768.6K	$2M	$981.4K	—
Q3 26	$872.7K	—	—	$4M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$22M	$0	$22M
Q1 23	$14M	$0	$14M
Q2 23	$11M	$0	$11M
Q3 23	$8M	$0	$8M
Q4 23	$6M	$0	$6M
Q1 24	$14M	$0	$14M
Q2 24	$4M	$0	$4M
Q3 24	$5M	$0	$5M
Q4 24	$3M	$0	$3M
Q1 25	$3M	$0	$3M
Q2 25	$3M	$0	$3M
Q3 25	$9M	$0	$9M
Q4 25	$8M	$0	$8M
Q1 26	$4M	$20M	$24M
Q2 26	$12M	$0	$12M
Q3 26	$10M	$0	$10M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 19	11M	—	—
Q3 20	14M	+21.5%	—
Q2 21	16M	+15.1%	—
Q3 22	19M	+24.2%	—
Q1 23	25M	+27.3%	+121.1%
Q1 26	40M	+60.2%	+191.5%
Q3 26	47M	+17.4%	+197.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 19	—	—
Q3 20	—	—
Q2 21	—	—
Q3 22	—	—
Q1 23	—	—
Q1 26	$29.3K	79
Q3 26	$37.8K	79

Revenue / Employee