MindWalk reports 54% revenue growth in Q2 fiscal 2026

MindWalk Holdings Corp. (NASDAQ: HYFT) reported revenue of $4.1 million for the quarter ended October 31, 2025, representing a 54% increase year-over-year and 30% sequential growth. The AI biotherapeutic company's gross margin expanded to 65% from 51% in the prior year quarter.

The company's gross profit increased 94% year-over-year to $2.7 million. Operating loss, excluding amortization and nonrecurring items, improved to $2.8 million from $4.1 million a year ago. Adjusted EBITDA loss decreased to $2.4 million compared to $2.6 million in the prior year period.

MindWalk reported cash and cash equivalents of $16.5 million at quarter end, including proceeds from the sale of its Netherlands operations. The company completed the divestiture during the quarter, generating net proceeds of $14.3 million.

The company advanced its GLP1 receptor agonist program, achieving receptor activation above semaglutide in laboratory assays. Using its LensAI platform, MindWalk identified a conserved epitope shared across all four dengue virus serotypes for potential vaccine development.

During the quarter, MindWalk welcomed Scott Areglado as Chief Financial Officer and Dr. Thomas Lynch as Chief Business Officer. The company completed its corporate rebranding and consolidated operating units under the HYFT ticker.

MindWalk has initiated formation of a Cayman Islands corporation to house segregated portfolios for individual AI-driven programs. Under this structure, assets and liabilities for each program would be ringfenced, allowing direct investor participation in individual portfolios.

The company plans to issue a strategic update on January 12 during the J.P. Morgan Healthcare Conference, including information on its AI asset pipeline and capital strategy. MindWalk will host a conference call on December 15, 2025, at 10:30 AM ET to discuss the results.

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