MindWalk (HYFT) Q4 2026 earnings summary

Executive summary

• Integrated discovery engine and Bio-Native AI infrastructure into a unified platform, enhancing drug discovery capabilities and leading to significant operational and commercial milestones.

• Achieved four consecutive quarters of year-over-year revenue growth, with full-year revenue up 46% to CAD 15.6 million, and launched recurring revenue platform agreements including ReefIQ.

• Completed divestiture of non-core European operations, generating up to $14.3 million in proceeds and sharpening focus on core business.

• Regained Nasdaq compliance organically, without reverse split or dilutive financing, and earned inclusion in the Russell 3000E and Microcap Indexes.

• Supported over 20 molecules into the clinic, with one client molecule approved by the FDA and launched commercially.

Financial highlights

• Revenue grew 46% year-over-year to CAD 15.6 million; Q4 revenue up 50% to CAD 4.1 million.

• Gross margin expanded to 59% for the fiscal year; Q4 gross margin reached 60.6%.

• Net loss from continuing operations narrowed to CAD 15.1 million from CAD 33.1 million; net loss per share improved to CAD 0.33 from CAD 0.99.

• Operating expenses decreased 44% to CAD 24.1 million, primarily due to non-recurrence of prior-year non-cash amortization and impairment.

• Cash and restricted cash at year-end totaled CAD 11.5 million; cash reserves increased from $5.0 million to $16.6 million during FY26.

Outlook and guidance

• Strategy centers on building intelligence-driven recurring revenue, advancing proprietary biologics and vaccine pipeline, and deepening enterprise partnerships.

• Operating expenses expected to increase as investments continue in pipeline assets and ReefIQ.

• Focus on securing non-dilutive funding for internal assets and optimizing capital allocation.

• Enhanced leadership team to support global expansion and strategic growth initiatives.

• Material updates on pipeline progress will be provided as milestones are reached.