MindWalk (HYFT)
Market Price (8/9/2026): $1.3 | Market Cap: $60.7 MilSector: Health Care | Industry: Biotechnology
MindWalk (HYFT)
Market Price (8/9/2026): $1.3Market Cap: $60.7 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -13% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 46% | Weak multi-year price returns3Y Excs Rtn is -111% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -15 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -96% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.2% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -80%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -83% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -27% High stock price volatilityVol 12M is 108% Key risksHYFT key risks include [1] its significant financial distress and unprofitability, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -13% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 46% |
| Weak multi-year price returns3Y Excs Rtn is -111% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -15 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -96% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.2% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -80%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -83% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -27% |
| High stock price volatilityVol 12M is 108% |
| Key risksHYFT key risks include [1] its significant financial distress and unprofitability, Show more. |
Qualitative Assessment
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MindWalk (HYFT) stock has gained about 10% since 4/30/2026 because of the following key factors:
1. MindWalk Holdings Corp. reported robust financial results for fiscal year 2026, which ended on April 30, 2026, and were announced on July 22, 2026. The company's full-year revenue increased by 46% to C$15.6 million, with gross margin expanding to 59%. Furthermore, the net loss for the year narrowed by more than half, moving from C$30.2 million in fiscal 2025 to C$13.9 million in fiscal 2026. Fourth-quarter fiscal 2026 revenue also saw a significant 50% year-over-year increase to C$4.1 million, marking its fourth consecutive quarter of year-over-year growth.
2. The commercial launch of ReefIQ™ in June 2026 and its public demonstration boosted investor confidence in MindWalk's Bio-Native AI infrastructure. ReefIQ™, the company's biological context layer for AI drug discovery, was unveiled publicly running on AMD Instinct™ at AMD's Advancing AI 2026 event in July 2026. This platform, powered by HYFT® Technology, is designed to enrich biological data and provide governed, queryable context for AI models, positioning MindWalk as a key player in the evolving AI-driven life sciences sector.
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MindWalk (HYFT) stock has gained about 10% since 4/30/2026 because of the following key factors:
1. MindWalk Holdings Corp. reported robust financial results for fiscal year 2026, which ended on April 30, 2026, and were announced on July 22, 2026. The company's full-year revenue increased by 46% to C$15.6 million, with gross margin expanding to 59%. Furthermore, the net loss for the year narrowed by more than half, moving from C$30.2 million in fiscal 2025 to C$13.9 million in fiscal 2026. Fourth-quarter fiscal 2026 revenue also saw a significant 50% year-over-year increase to C$4.1 million, marking its fourth consecutive quarter of year-over-year growth.
2. The commercial launch of ReefIQ™ in June 2026 and its public demonstration boosted investor confidence in MindWalk's Bio-Native AI infrastructure. ReefIQ™, the company's biological context layer for AI drug discovery, was unveiled publicly running on AMD Instinct™ at AMD's Advancing AI 2026 event in July 2026. This platform, powered by HYFT® Technology, is designed to enrich biological data and provide governed, queryable context for AI models, positioning MindWalk as a key player in the evolving AI-driven life sciences sector.
3. MindWalk's inclusion in the Russell 3000E and Russell Microcap Indexes, effective after the U.S. market close on June 26, 2026, significantly increased its institutional visibility. This inclusion broadens the company's exposure to a wider range of institutional investors and index-tracking funds, which can enhance liquidity and investor interest in the stock.
4. The filing of a European patent application in June 2026 for its proprietary HYFT® Technology highlighted the company's ongoing innovation and intellectual property development. This patent application covers a high-dimensional biological data structure that underpins MindWalk's core technology, reinforcing its competitive advantage in the Bio-Native AI space for drug discovery.
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Stock Movement Drivers
Fundamental Drivers
The 10.1% change in HYFT stock from 4/30/2026 to 8/8/2026 was primarily driven by a 9.6% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302026 | 8082026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.19 | 1.31 | 10.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 14 | 16 | 9.6% |
| P/S Multiple | 3.9 | 3.9 | 0.8% |
| Shares Outstanding (Mil) | 47 | 47 | -0.4% |
| Cumulative Contribution | 10.1% |
Market Drivers
4/30/2026 to 8/8/2026| Return | Correlation | |
|---|---|---|
| HYFT | 10.1% | |
| Market (SPY) | 7.6% | 39.4% |
| Sector (XLV) | 13.5% | -8.6% |
Fundamental Drivers
The -19.1% change in HYFT stock from 1/31/2026 to 8/8/2026 was primarily driven by a -32.9% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 8082026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.62 | 1.31 | -19.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 13 | 16 | 21.9% |
| P/S Multiple | 5.9 | 3.9 | -32.9% |
| Shares Outstanding (Mil) | 46 | 47 | -1.2% |
| Cumulative Contribution | -19.1% |
Market Drivers
1/31/2026 to 8/8/2026| Return | Correlation | |
|---|---|---|
| HYFT | -19.1% | |
| Market (SPY) | 12.1% | 48.1% |
| Sector (XLV) | 7.5% | 5.2% |
Fundamental Drivers
The -21.1% change in HYFT stock from 7/31/2025 to 8/8/2026 was primarily driven by a -44.6% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 8082026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.66 | 1.31 | -21.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 11 | 16 | 46.4% |
| P/S Multiple | 7.1 | 3.9 | -44.6% |
| Shares Outstanding (Mil) | 45 | 47 | -2.7% |
| Cumulative Contribution | -21.1% |
Market Drivers
7/31/2025 to 8/8/2026| Return | Correlation | |
|---|---|---|
| HYFT | -21.1% | |
| Market (SPY) | 23.4% | 40.0% |
| Sector (XLV) | 28.7% | 11.0% |
Fundamental Drivers
The -48.0% change in HYFT stock from 7/31/2023 to 8/8/2026 was primarily driven by a -46.4% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 7312023 | 8082026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.52 | 1.31 | -48.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 21 | 16 | -24.7% |
| P/S Multiple | 3.1 | 3.9 | 28.8% |
| Shares Outstanding (Mil) | 25 | 47 | -46.4% |
| Cumulative Contribution | -48.0% |
Market Drivers
7/31/2023 to 8/8/2026| Return | Correlation | |
|---|---|---|
| HYFT | -48.0% | |
| Market (SPY) | 74.9% | 19.5% |
| Sector (XLV) | 29.3% | 5.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HYFT Return | -64% | -3% | -67% | -76% | 342% | -30% | -91% |
| Peers Return | -71% | -65% | 87% | -37% | -13% | 67% | -83% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| HYFT Win Rate | 33% | 67% | 25% | 25% | 75% | 25% | |
| Peers Win Rate | 17% | 33% | 56% | 36% | 42% | 62% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| HYFT Max Drawdown | -70% | -44% | -80% | -86% | -55% | -63% | |
| Peers Max Drawdown | -81% | -68% | -56% | -70% | -57% | -25% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TDOC, TALK, AMWL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/7/2026 (YTD)
How Low Can It Go
| Event | HYFT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.4% | -18.8% |
| % Gain to Breakeven | 30.6% | 23.1% |
| Time to Breakeven | 16 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -39.4% | -7.8% |
| % Gain to Breakeven | 65.0% | 8.5% |
| Time to Breakeven | 4 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -55.6% | -9.5% |
| % Gain to Breakeven | 125.2% | 10.5% |
| Time to Breakeven | 615 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -35.0% | -24.5% |
| % Gain to Breakeven | 53.8% | 32.4% |
| Time to Breakeven | 24 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -36.7% | -33.7% |
| % Gain to Breakeven | 57.9% | 50.9% |
| Time to Breakeven | 1 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -30.2% | -19.2% |
| % Gain to Breakeven | 43.3% | 23.8% |
| Time to Breakeven | 511 days | 105 days |
In The Past
MindWalk's stock fell -23.4% during the 2025 US Tariff Shock. Such a loss loss requires a 30.6% gain to breakeven.
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| Event | HYFT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.4% | -18.8% |
| % Gain to Breakeven | 30.6% | 23.1% |
| Time to Breakeven | 16 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -39.4% | -7.8% |
| % Gain to Breakeven | 65.0% | 8.5% |
| Time to Breakeven | 4 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -55.6% | -9.5% |
| % Gain to Breakeven | 125.2% | 10.5% |
| Time to Breakeven | 615 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -35.0% | -24.5% |
| % Gain to Breakeven | 53.8% | 32.4% |
| Time to Breakeven | 24 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -36.7% | -33.7% |
| % Gain to Breakeven | 57.9% | 50.9% |
| Time to Breakeven | 1 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -30.2% | -19.2% |
| % Gain to Breakeven | 43.3% | 23.8% |
| Time to Breakeven | 511 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -28.8% | -3.7% |
| % Gain to Breakeven | 40.5% | 3.9% |
| Time to Breakeven | 73 days | 6 days |
| 2013 Taper Tantrum | ||
| % Loss | -57.1% | -0.2% |
| % Gain to Breakeven | 133.3% | 0.2% |
| Time to Breakeven | 1161 days | 1 days |
In The Past
MindWalk's stock fell -23.4% during the 2025 US Tariff Shock. Such a loss loss requires a 30.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About MindWalk (HYFT)
ImmunoPrecise Antibodies Ltd. (symbol: HYFT) is a Canadian biotechnology company specializing in the discovery, development, and manufacturing of antibodies and related biological products. Operating internationally across North America and Europe, the company serves the research and development needs of the life sciences industry. Its core business involves supporting pharmaceutical companies, biotech firms, and academic institutions in their efforts to advance therapeutic and diagnostic solutions, particularly in areas like oncology, infectious diseases, and autoimmune disorders.
The company offers a comprehensive array of products, including various antibodies, enzymes, proteins, and organoid growth factors, all primarily for research applications. Beyond its product catalog, ImmunoPrecise Antibodies provides an extensive suite of custom services that cover the entire antibody discovery and engineering pipeline. These services range from initial antigen design, B cell sorting, and phage display, to advanced antibody characterization, optimization, humanization, and the manufacturing of specialized antibody formats such as bi-specific, tri-specific, VHH, and VNAR antibodies.
ImmunoPrecise Antibodies' primary customers are research scientists and organizations globally who rely on its sophisticated platforms and expertise to accelerate their drug discovery and preclinical development programs. By offering high-throughput screening, transient and stable cell line generation, and cryopreservation services, the company acts as a critical partner in bringing novel therapeutics to market. Strategic collaborations, such as those with Pierre Fabre S.A. for antibody discovery and Elektrofi, Inc. for high-concentration antibody formulation, further underscore its integral role in the biotechnology ecosystem.
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- Antibodies: Offers a diverse range of antibodies for research applications.
- Enzymes & Assays: Provides enzymes and enzyme activity assays for various research needs.
- Specialized Proteins: Supplies proteins, deiminated proteins, and organoid growth factors for scientific research.
- Research Reagents: Delivers arthritis animal products and hybridoma products for research purposes.
Services:
- Antigen Services: Provides custom antigen modeling, design, and manufacturing.
- Antibody Discovery & Development: Offers comprehensive services including B cell sorting, phage display, multi-species antibody discovery, and manufacturing of various antibody types like bi-specific and VHH.
- Antibody Characterization & Engineering: Conducts antibody characterization on label-free biosensors and performs antibody engineering.
- Cell Line & Genetic Engineering: Specializes in DNA cloning, protein downstream processing, transient and stable cell line generation, and antibody optimization/humanization.
- Hybridoma Production: Manages hybridoma production with multiplexed, high-throughput screening and clone-picking.
- Cryopreservation: Provides services for the cryopreservation of biological materials.
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- Pierre Fabre S.A.
- Elektrofi, Inc.
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Jennifer Bath, PhD Chief Executive Officer and President
Dr. Jennifer Bath was appointed CEO of MindWalk in February 2018. She previously served as the Global Director of Client Relations at Aldevron, LLC. Dr. Bath founded and served as the Executive Director of the Concordia College Global Vaccine Institute. She also held a tenured position as an Associate Professor of Cellular and Molecular Biology at Concordia College for 15 years, and advised biotechnology and pharmaceutical companies on strategic and operational business practices. She holds a Ph.D. in Cellular and Molecular Biology from North Dakota State University.
R. Scott Areglado Chief Financial Officer
R. Scott Areglado was appointed Chief Financial Officer of MindWalk, effective October 20, 2025. He brings over 25 years of financial leadership experience across the healthcare, life sciences, and technology sectors. Most recently, he served as CFO of BrainsWay Ltd. from 2021 to 2023, where he helped redefine corporate strategy and led eight consecutive quarters of revenue growth. Prior to BrainsWay, he was the CFO at iCAD, Inc., a medical technology company specializing in AI-driven cancer detection, where he led multiple financings totaling over $50 million and supported several acquisitions. From 2005 to 2010, Mr. Areglado was Vice President and Controller at AMICAS, Inc., which was successfully acquired by Merge Healthcare. He holds an MBA from Babson College and a BBA in Accounting from the University of Massachusetts Amherst.
Thomas Lynch, PhD Chief Business Officer
Dr. Thomas Lynch was appointed Chief Business Officer of MindWalk, effective October 20, 2025. He possesses over two decades of experience at the intersection of biotechnology and software innovation. Dr. Lynch previously served as Director of Technical Sales & Scientific Support at Aldevron, where he built and led a global commercial team. As Vice President of Global Sales and Client Services at Aldevron, he spearheaded initiatives including the introduction of clinical mRNA manufacturing services and strategic account expansion, contributing to Aldevron's $9.6 billion acquisition by Danaher Life Sciences in 2021. Earlier in his career, he led global commercial operations at DNASTAR. Dr. Lynch earned his Ph.D. in Biochemistry at the University of Illinois and completed a postdoctoral fellowship funded by the National Cancer Institute at the University of Chicago. He currently serves on the Board of BioForward.
Dirk Van Hyfte, MD, PhD Chief Technology Officer
Dr. Dirk Van Hyfte is the Chief Technology Officer of MindWalk. He co-founded BioStrand, BioKey, and BioClue in 2019, serving as Co-Founder and CTO for BioStrand. BioStrand was later acquired by ImmunoPrecise Antibodies Ltd. in 2021, which subsequently rebranded as MindWalk Holdings Corp. Dr. Van Hyfte also co-founded iKnow in 1999, which was acquired by InterSystems in 2010. He holds patents for a revolutionary algorithm for genomic data analysis (at BioClue). He obtained his Ph.D. in Medical Artificial Intelligence from Radboud University in 2000 and a Doctor of Medicine - MD from KU Leuven in 1992. His early career included working as a Clinical Psychiatrist.
Ingrid Brands, MD, PhD Chief Innovation and Strategy Officer
Dr. Ingrid Brands is the Chief Innovation and Strategy Officer of MindWalk. She co-founded BioStrand in 2019, serving as its CEO, alongside Dirk Van Hyfte. BioStrand was acquired by ImmunoPrecise Antibodies Ltd. in 2021. Dr. Brands has over two decades of experience in management and senior research roles. She has pioneered innovative approaches in neuropsychological rehabilitation and held research positions at Libra Revalidatie & Audiologie and the Department of Rehabilitation at Erasmus University. She holds a Ph.D. in neurorehabilitation from the University of Maastricht and graduated Magna cum Laude in Medicine from the University of Leuven, specializing in Physical Medicine and Rehabilitation (PM&R).
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1. Persistent and Significant Net Losses and Funding Requirements
MindWalk (formerly ImmunoPrecise Antibodies Ltd.) has consistently reported substantial net losses, raising concerns about its path to profitability and its ongoing reliance on capital raises to fund operations. For the full fiscal year 2025, the company reported a net loss of $30.2 million CAD, an increase from the previous fiscal year's loss. This significant cash drain, coupled with a cash balance of $10.8 million CAD in FY2025, highlights considerable capital pressure that has necessitated equity raises and a transfer to the Nasdaq Capital Market.2. Rapid Obsolescence Risk in AI Drug Discovery and High Reliance on Proprietary Platforms
The company's future growth is intrinsically linked to the success and widespread adoption of its proprietary AI platforms, primarily LENSai™ and HYFT® technology. However, the AI drug discovery landscape is rapidly evolving, presenting a significant risk of rapid obsolescence for MindWalk's algorithms and data architecture. If competitors develop superior AI platforms or new foundational models emerge, MindWalk's current technology could become less competitive, posing a substantial threat to its revenue streams and market position. This reliance on a few key platforms creates a concentration risk.3. Execution Risks Related to Strategic Partnerships and Technology Development
MindWalk's strategy involves strategic partnerships and the continuous development and commercialization of its AI-based drug discovery tools. There are inherent execution risks associated with these partnerships, including potential delays or failures in developing and bringing new technologies to market. The successful realization of the company's growth hinges on effective execution in these areas, and any setbacks could materially impact its anticipated results and performance.AI Analysis | Feedback
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MindWalk (symbol: HYFT) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Expansion of AI-Driven Drug Discovery and BioStrand Segment: MindWalk, a Bio-Native AI company, is heavily investing in and rebranding to emphasize its AI platform capabilities, particularly its proprietary LENSai™ technology. This platform aims to accelerate antibody discovery, development, and optimization by providing earlier insights, stronger candidate selection, and faster decision-making. The BioStrand segment, a core part of its AI initiatives, demonstrated exceptional growth of over 180% in Fiscal Year 2025 with high gross margins, indicating its strong contribution to revenue and profitability. The overall AI-based drug discovery market is projected to grow significantly, offering a favorable environment for MindWalk's specialized offerings.
- Strategic Partnerships and Collaborations: The company anticipates revenue generation from new strategic partnerships, including a significant USD $8–10 million oncology partnership focused on antibody-drug conjugates and bispecific antibodies. MindWalk emphasizes its strong partner momentum, with strategic collaborations expected to boost revenue streams and enhance operational efficiency.
- Transition to Software-as-a-Service (SaaS) Model for LensAI: MindWalk has begun transitioning its LensAI platform from a project-based revenue model to a Software-as-a-Service (SaaS) model, securing its first enterprise SaaS contract. This shift is expected to provide more predictable and recurring revenues, as well as attract new clients and facilitate margin expansion as existing clients adopt the subscription model.
- Advancement of Internal AI-Designed Therapeutic Pipeline: MindWalk is developing its own pipeline of AI-designed therapeutics, including a GLP-1 receptor agonist program and initiatives for universal dengue and influenza vaccines. The company's AI-designed GLP-1 peptides have shown promising results, and significant progress has been made in identifying key epitopes for universal vaccine candidates. To support these programs and attract targeted investment, MindWalk is establishing a segregated portfolio structure in the Cayman Islands for its AI-generated assets.
- Growth in Fee-for-Service Drug Discovery and Development: The company's traditional fee-for-service operations, particularly its Canadian business, have shown strong performance. Sales orders in Canada more than doubled in Q4 2025 compared to historical quarters, with a substantial increase in year-over-year sales and orders from new clients. This segment continues to be a consistent revenue generator, forming a key pillar of the company's growth strategy.
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Share Repurchases
- MindWalk Holdings Corp. announced a share repurchase program on October 9, 2025.
- The program authorizes the repurchase of up to 2.3 million common shares, which represents approximately 5% of the company's outstanding shares.
- The repurchase program is effective from October 15, 2025, until October 15, 2026.
Share Issuance
- The number of outstanding shares for ImmunoPrecise Antibodies Ltd. (now MindWalk Holdings Corp.) significantly increased from 19.34 million in 2021 to 46.15 million in 2025.
- Specifically, shares outstanding grew by 64.06% from 28.13 million in 2024 to 46.15 million in 2025.
Outbound Investments
- MindWalk Holdings Corp. completed the sale of its Netherlands operations to AVS Bio, generating $11.7 million in net proceeds from the $12 million sale. This divestiture occurred around October 2025.
Capital Expenditures
- ImmunoPrecise Antibodies Ltd. (now MindWalk Holdings Corp.) reported Cash from Investing Activities of -1.1 million CAD as of October 31, 2025.
- The average annual growth rate for Cash from Investing Activities was 43% over the past three years and 15% over the past five years.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| MindWalk Stock Dropped 7.3% - Have You Assessed the Risk | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 6.17 |
| Mkt Cap | 0.6 |
| Rev LTM | 232 |
| Op Inc LTM | -48 |
| FCF LTM | -4 |
| FCF 3Y Avg | -4 |
| CFO LTM | 2 |
| CFO 3Y Avg | 0 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.6% |
| Rev Chg 3Y Avg | -0.3% |
| Rev Chg Q | 4.8% |
| QoQ Delta Rev Chg LTM | 1.0% |
| Op Inc Chg LTM | 12.5% |
| Op Inc Chg 3Y Avg | 23.3% |
| Op Mgn LTM | -21.6% |
| Op Mgn 3Y Avg | -34.7% |
| QoQ Delta Op Mgn LTM | 0.6% |
| CFO/Rev LTM | -2.6% |
| CFO/Rev 3Y Avg | -15.5% |
| FCF/Rev LTM | -6.4% |
| FCF/Rev 3Y Avg | -18.7% |
Price Behavior
| Market Price | $1.31 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 11/14/2008 | |
| Distance from 52W High | -59.1% | |
| 50 Days | 200 Days | |
| DMA Price | $1.51 | $1.55 |
| DMA Trend | down | up |
| Distance from DMA | -13.5% | -15.5% |
| 3M | 1YR | |
| Volatility | 101.2% | 108.2% |
| Downside Capture | 354.02 | 430.77 |
| Upside Capture | 299.89 | 287.55 |
| Correlation (SPY) | 39.7% | 39.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.85 | 2.35 | 2.90 | 3.11 | 3.38 | 1.40 |
| Up Beta | -1.86 | -0.54 | 0.74 | 2.18 | 3.14 | 0.77 |
| Down Beta | 4.43 | 2.89 | 3.59 | 3.34 | 2.99 | 1.14 |
| Up Capture | 419% | 226% | 408% | 440% | 956% | 553% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 10 | 19 | 30 | 54 | 112 | 314 |
| Down Capture | 581% | 311% | 273% | 244% | 190% | 112% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 12 | 23 | 30 | 64 | 130 | 408 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HYFT | |
|---|---|---|---|---|
| HYFT | -30.8% | 108.1% | 0.14 | - |
| Sector ETF (XLV) | 28.7% | 15.5% | 1.42 | 10.7% |
| Equity (SPY) | 23.3% | 12.8% | 1.36 | 39.3% |
| Gold (GLD) | 28.5% | 28.4% | 0.87 | 15.1% |
| Commodities (DBC) | 32.9% | 19.8% | 1.32 | -5.9% |
| Real Estate (VNQ) | 14.2% | 13.8% | 0.72 | 18.2% |
| Bitcoin (BTCUSD) | -43.7% | 43.0% | -1.21 | 26.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HYFT | |
|---|---|---|---|---|
| HYFT | -27.6% | 98.3% | 0.11 | - |
| Sector ETF (XLV) | 6.2% | 15.0% | 0.23 | 7.5% |
| Equity (SPY) | 13.5% | 17.2% | 0.61 | 17.6% |
| Gold (GLD) | 18.6% | 18.6% | 0.81 | 6.3% |
| Commodities (DBC) | 8.2% | 19.6% | 0.31 | 1.7% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 9.7% |
| Bitcoin (BTCUSD) | 9.0% | 53.0% | 0.36 | 9.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HYFT | |
|---|---|---|---|---|
| HYFT | -7.7% | 110.4% | 0.38 | - |
| Sector ETF (XLV) | 10.1% | 16.6% | 0.49 | 7.4% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 12.8% |
| Gold (GLD) | 12.1% | 16.2% | 0.61 | 4.8% |
| Commodities (DBC) | 7.4% | 18.0% | 0.33 | 3.5% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 8.0% |
| Bitcoin (BTCUSD) | 58.4% | 66.2% | 0.98 | 6.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 04/30/2026 | 07/23/2026 | 20-F |
| 01/31/2026 | 03/12/2026 | 6-K |
| 10/31/2025 | 12/15/2025 | 6-K |
| 07/31/2025 | 09/15/2025 | 6-K |
| 04/30/2025 | 07/29/2025 | 20-F |
| 01/31/2025 | 03/28/2025 | 6-K |
| 10/31/2024 | 12/10/2024 | 6-K |
| 07/31/2024 | 09/16/2024 | 6-K |
| 04/30/2024 | 07/29/2024 | 20-F |
| 01/31/2024 | 03/14/2024 | 6-K |
| 10/31/2023 | 12/14/2023 | 6-K |
| 07/31/2023 | 09/14/2023 | 6-K |
| 04/30/2023 | 07/10/2023 | 40-F |
| 01/31/2023 | 03/16/2023 | 6-K |
| 10/31/2022 | 12/15/2022 | 6-K |
| 07/31/2022 | 09/14/2022 | 6-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 04/30/2026 | 07/23/2026 | 20-F |
| 01/31/2026 | 03/12/2026 | 6-K |
| 10/31/2025 | 12/15/2025 | 6-K |
| 07/31/2025 | 09/15/2025 | 6-K |
| 04/30/2025 | 07/29/2025 | 20-F |
| 01/31/2025 | 03/28/2025 | 6-K |
| 10/31/2024 | 12/10/2024 | 6-K |
| 07/31/2024 | 09/16/2024 | 6-K |
| 04/30/2024 | 07/29/2024 | 20-F |
| 01/31/2024 | 03/14/2024 | 6-K |
| 10/31/2023 | 12/14/2023 | 6-K |
| 07/31/2023 | 09/14/2023 | 6-K |
| 04/30/2023 | 07/10/2023 | 40-F |
| 01/31/2023 | 03/16/2023 | 6-K |
| 10/31/2022 | 12/15/2022 | 6-K |
| 07/31/2022 | 09/14/2022 | 6-K |
| 04/30/2022 | 07/29/2022 | 40-F |
| 01/31/2022 | 03/16/2022 | 6-K |
| 10/31/2021 | 12/13/2021 | 6-K |
| 07/31/2021 | 09/09/2021 | 6-K |
| 04/30/2021 | 07/28/2021 | 40-F |
| 01/31/2021 | 03/18/2021 | 6-K |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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