Business
MindWalk Holdings Corp.™ (formerly ImmunoPrecise Antibodies™) Reports Record $7.6 Million Quarterly Revenue, 45% Growth, Margin Expansion, Narrowed Losses, and Strengthened Balance Sheet
Company to hold conference call on September 15, 2025, at 10:30 ET to review corporate highlights AUSTIN, Texas--(BUSINESS WIRE)-- MindWalk Holdings Corp.™
About this update from Mindwalk Holdings Corp.
[{"type":"text","content":"\nCompany to hold conference call on September 15, 2025, at 10:30 ET to\nreview corporate highlights\n\n\n AUSTIN, Texas--(BUSINESS WIRE)--\nMindWalk Holdings Corp.™ (“MindWalk™”, “Company”, “we” or “us”) (NASDAQ: HYFT), a Bio-Native AI company operating at the intersection of TechBio and next-generation drug discovery, today announced financial results for its first fiscal quarter of 2026, ended July 31, 2025. All numbers are expressed in Canadian dollars unless otherwise noted.\n\n\nFirst Quarter Highlights:\n\n\n\nRecord revenue of $7.6 million, up 45% year-over-year; continued operations revenue of $3.2 million, up 28%\n\n\n\nGross margin expanded to 53%; gross profit $4.0 million vs. $2.4 million last year\n\n\n\nOperating loss and adjusted EBITDA loss both reduced by nearly half\n\n\n\nNet loss improved to $3.0 million vs. $4.0 million last year\n\n\n\nCash balance of $5.0 million at quarter-end, plus $16.1 million in net proceeds from Netherlands divestiture\n\n\n\nSoft launch of MindWalk rebrand; progress on dengue vaccine program and LensAI validation\n\n\n\nFinancial Results (Total Operations)\n\n\n\nRevenue: $7.6 million (including $3.2 million from continuing operations and $4.4 million from discontinued operations), compared to $5.3 million in Q1 FY2025 (+46%).\n\n\n\nGross Profit: $4.0 million (53% margin), up from $2.4 million (45% margin). Continued ops contributed $1.5 million at 48% margin; discontinued ops contributed $2.5 million at 56% margin.\n\n\n\nOperating Loss: $2.7 million total, versus $4.7 million last year. Includes $4.1 million loss from continuing ops and $1.1 million income from discontinued ops.\n\n\n\nNet Loss: $3.0 million total, versus $4.0 million last year. Includes $4.1 million loss from continuing ops and $1.1 million income from discontinued ops.\n\n\n\nAdjusted EBITDA: Loss of $1.4 million, versus $2.8 million last year. Includes $2.1 million loss from continuing ops and $0.7 million income from discontinued ops.\n\n\n\nCash & Equivalents: $5.0 million at July 31, 2025, excluding $16.1 million in net proceeds from the Netherlands divestiture received in early Q2.\n\n\n\nResults from the Netherlands operations, divested six days into Q2, will be classified as discontinued operations beginning this quarter.\n\n\nRecent Corporate Highlights:\n\n\n\nRebranding – Introduced MindWalk, uniting...