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HYFT

MindWalk Holdings Corp.

HYFT

MindWalk Holdings Corp. • NASDAQ
$2.06 ▲ 7.29% (+0.14)
Market Cap $95.08 M
52w High $3.25
52w Low $0.27
Dividend Yield 0%
P/E -3.43
Volume 236.41K
Outstanding Shares 46.15M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $3.161M ▼ $5.68M ▼ $-2.959M ▼ -93.61% ▼ $-0.07 ▼ $-3.211M ▼
Q4-2025 $6.981M ▲ $5.918M ▼ $-2.161M ▲ -30.955% ▲ $-0.065 ▲ $-988K ▲
Q3-2025 $6.151M ▲ $6.588M ▲ $-21.521M ▼ -349.878% ▼ $-0.66 ▼ $-22.967M ▼
Q2-2025 $6.125M ▲ $6.256M ▼ $-2.553M ▲ -41.682% ▲ $-0.091 ▲ $-1.534M ▲
Q1-2025 $5.263M $7.129M $-3.999M -75.983% $-0.15 $-3.378M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $32.435M ▲ $40.748M ▼ $20.005M ▼ $20.743M ▼
Q4-2025 $10.665M ▼ $44.441M ▼ $20.815M ▲ $23.626M ▼
Q3-2025 $12.915M ▲ $45.534M ▼ $20.41M ▼ $25.124M ▼
Q2-2025 $3.534M ▼ $59.963M ▲ $27.286M ▲ $32.677M ▼
Q1-2025 $3.913M $59.299M $26.445M $32.854M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $-2.959M ▼ $-4.213M ▼ $-594K ▼ $-371K ▲ $-5.767M ▼ $-4.495M ▼
Q4-2025 $-2.161M ▲ $-1.14M ▲ $-359K ▼ $-418K ▼ $-2.214M ▼ $-1.499M ▼
Q3-2025 $-21.521M ▼ $-1.203M ▲ $-112K ▼ $10.546M ▲ $9.384M ▲ $-1.315M ▲
Q2-2025 $-2.553M ▲ $-2.243M ▼ $-65K ▲ $2.069M ▼ $-379K ▼ $-2.308M ▼
Q1-2025 $-3.999M $-1.824M $-263K $2.696M $455K $-2.087M

Revenue by Products

Product Q3-2024
Product Sales
Product Sales
 $0 ▲
Project Revenue
Project Revenue
 $20.00M ▲

Five-Year Company Overview

Income Statement

Income Statement HYFT’s income statement looks like that of a very early‑stage platform company: revenue has been tiny and basically flat for several years, while losses have been consistent. The cost base needed to build and run the AI platform and wet‑lab capabilities clearly outweighs current sales, so the business is not close to break‑even. Earnings per share have trended more negative over time, suggesting that, so far, the strategic pivot into “bio‑native AI” has not yet translated into meaningful scale in the top line. Any improvement noted in more recent quarters is coming off a very low base, so it will take sustained growth to change the overall profit picture.

Balance Sheet

Balance Sheet The balance sheet is very small and quite light, with limited assets, modest cash, and only a thin layer of equity. Debt has appeared but remains small relative to the overall size of the company. This structure gives HYFT agility but leaves it with little cushion if results disappoint or cash burn accelerates. The gradual reduction in total assets and equity over the past few years points to ongoing strain from operating losses, and underlines a dependence on either improved cash generation or future external funding to support longer‑term plans.

Cash Flow

Cash Flow Cash flow reflects the same story: the core business has generally consumed cash rather than generated it. Operating cash flow has hovered around break‑even to modestly negative, and with almost no spending on physical assets, free cash flow is essentially a direct reflection of operating performance. This means HYFT’s ability to fund its ambitious AI and drug‑discovery roadmap depends heavily on disciplined cost control, new revenue sources, and access to capital markets or partners, rather than on internally generated cash at this stage.

Competitive Edge

Competitive Edge Strategically, HYFT is trying to carve out a differentiated niche at the intersection of AI and biotechnology. Its combination of explainable AI (LensAI), proprietary HYFT fingerprinting, and in‑house wet labs is a notable strength compared with pure software players that must outsource lab work. Long‑standing relationships with major pharmaceutical companies and a flexible business model (from fee‑for‑service to SaaS and partnerships) also help. However, the company is very small in a field that includes well‑funded AI‑drug discovery competitors, and its commercial traction is still early. The moat is more conceptual and technological today than proven at scale in the marketplace.

Innovation and R&D

Innovation and R&D Innovation is the clear centerpiece of HYFT’s story. The HYFT and LensAI platforms aim to shorten and de‑risk drug discovery by moving more work into the computer and then rapidly validating in the lab. The pipeline spans an AI‑designed GLP‑1 program targeting aging and longevity, a dengue vaccine effort, and broader applications in oncology and immunology. HYFT is also pushing SaaS and data‑as‑a‑service models to monetize its technology. These are ambitious, high‑potential areas, but they are inherently long‑dated, scientifically complex, and dependent on regulatory and partnership milestones. Success would be transformative; setbacks could be costly given the current financial base.

Summary

HYFT is in the midst of a major repositioning from a traditional antibody services company to a “bio‑native AI” platform for drug discovery. The upside case centers on its distinctive technology stack, explainable AI approach, and existing relationships with big pharma, plus early signs of stronger growth in recent quarters. On the other hand, the company operates with a very small balance sheet, persistent losses, and limited cash, all in a highly competitive and capital‑intensive industry. The overall picture is one of high innovation paired with high execution and funding risk. How effectively HYFT can convert its AI capabilities into durable, growing revenue streams—while managing its cash and securing strong partners—will determine whether the strategic transformation pays off over time.

NEWS

November 13, 2025 · 9:00 AM UTC

MindWalk CTO Dr. Dirk Van Hyfte to Join Fireside Chat at AI Drug Discovery & Development Summit 2025

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October 21, 2025 · 8:28 AM UTC

MindWalk Appoints R. Scott Areglado as Chief Financial Officer to Strengthen Financial Leadership and Support Growth Strategy

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October 15, 2025 · 7:00 AM UTC

MindWalk Appoints Dr. Thomas W. Lynch as Chief Business Officer to Accelerate Commercial Expansion

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October 9, 2025 · 7:00 AM UTC

MindWalk Announces Share Repurchase Program

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September 22, 2025 · 7:02 AM UTC

MindWalk Advances AI-Designed GLP-1 Program with First-in-Class Dual-Pathway Regimen for Aging and Longevity

Read more