Q3 2026 MindWalk Holdings Corp Earnings Call Transcript
Key Points
- MindWalk Holdings Corp (HYFT) reported its third consecutive quarter of year-over-year revenue growth, with a 52% increase to $4.2 million compared to the same quarter last year.
- The company signed its first 1-year enterprise LensAI platform contract, transitioning from project-based to contracted and recurring revenue.
- MindWalk's US revenue doubled year-over-year, reflecting a strategic focus on the North American market.
- The company advanced three pipeline programs (Dengue, GLP-1, and influenza) toward data readouts, showcasing progress in its R&D efforts.
- MindWalk ended Q3 with $14.2 million in cash, providing a solid financial foundation for future investments and growth.
- Gross margin for the quarter decreased to 59% from 65% in the prior year period, indicating potential pressure on profitability.
- Operating expenses increased, with R&D expenses rising to $1.2 million from $0.9 million in the prior year period, reflecting higher investment in pipeline programs.
- Sales and marketing expenses also increased significantly, reaching $1.8 million compared to $1.1 million in the same period last year.
- The company reported a net loss from continuing operations of $3.9 million for Q3 2026, although this was an improvement from the previous year's loss.
- MindWalk is still in the preclinical stage for its pipeline programs, indicating that significant time and investment are required before potential commercialization.
Please be advised that today's conference is being recorded. Good morning, ladies and gentlemen. Thank you for joining us today for MindWalk Holdings Corp.'s Third Quarter Fiscal Year 2026 Earnings Call. MindWalk trades on the NASDAQ under the ticker HYFT. Today's call will be led by our Chief Executive Officer, Dr. Jennifer Bath; and our Chief Financial Officer, Scott Areglado.
A copy of our financial statements, MD&A, is available on our website at mindwalkai.com. A replay of today's call will be available on MindWalk's Investor Relations website following the conclusion of today's call.
Before we begin, please note that today's discussion includes forward-looking statements. These statements are based on current expectations and involve risks and uncertainties that may cause actual results to differ materially. For more information, please refer to our filings with the SEC and Canadian securities regulators, including our most recent Form 20-F. Unless otherwise noted, all financial figures discussed today are in Canadian dollars.
I will now turn the call over to Dr.
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