8-K Announcements
6Feb 26, 2026·SEC
Jan 29, 2026·SEC
Jan 12, 2026·SEC
Mind Medicine (MindMed) Inc. (MNMD) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Mind Medicine (MindMed) Inc. (MNMD) stock price & volume — 10-year historical chart
Mind Medicine (MindMed) Inc. (MNMD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Mind Medicine (MindMed) Inc. (MNMD) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 5, 2026 | $0.51vs $0.48-6.3% | — |
| Q1 2026 | Feb 26, 2026 | $0.56vs $0.48-16.7% | — |
| Q4 2025 | Nov 6, 2025 | $0.78vs $0.52-50.0% | — |
| Q3 2025 | Jul 31, 2025 | $0.50vs $0.38-31.6% | — |
Mind Medicine (MindMed) Inc. (MNMD) competitors in Neuroscience and Psychiatry Therapies — business model, growth, and fundamentals comparison
Mind Medicine (MindMed) Inc. (MNMD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Mind Medicine (MindMed) Inc. (MNMD) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Aug'17 | Aug'18 | Aug'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 5.5K | 6.68K | 6.68K | 0 | 0 | 3.22M | 3.16M | 527K | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - |
| Gross Profit | -5.5K▲ 0% | -6.68K▼ 21.5% | -6.68K▼ 0.0% | 0▲ 100.0% | 0▲ 0% | -3.22M▲ 0% | -3.16M▲ 1.9% | -527K▲ 83.3% | 0▲ 100.0% |
| Gross Margin % | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | -21.46% | -0.03% | 100% | - | - | 1.89% | 83.33% | 100% |
| Operating Expenses | 1.23M | 855.26K | 461.5K | 33.03M | 93.85M | 66.33M | 90.7M | 103.39M | 166.31M |
| OpEx % of Revenue | - | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 1.23M | 855.26K | 461.5K | 14.4M | 59.06M | 30.16M | 41.74M | 38.62M | 48.64M |
| SG&A % of Revenue | - | - | - | - | - | - | - | - | - |
| Research & Development | 0 | 0 | 0 | 18.63M | 34.79M | 36.17M | 48.96M | 65.3M | 117.67M |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -527K | 0 |
| Operating Income | -1.24M▲ 0% | -861.94K▲ 30.2% | -468.18K▲ 45.7% | -33.03M▼ 6955.0% | -93.85M▼ 184.1% | -66.33M▲ 29.3% | -93.87M▼ 41.5% | -103.92M▼ 10.7% | -166.31M▼ 60.0% |
| Operating Margin % | - | - | - | - | - | - | - | - | - |
| Operating Income Growth % | -1010.23% | 30.21% | 45.68% | -6954.98% | -184.15% | 29.33% | -41.51% | -10.71% | -60.04% |
| EBITDA | -1.23M | -855.26K | -461.5K | -32.82M | -91.24M | -63.15M | -90.7M | -103.39M | -166.31M |
| EBITDA Margin % | - | - | - | - | - | - | - | - | - |
| EBITDA Growth % | -1005.28% | 30.45% | 46.04% | -7012.45% | -177.96% | 30.78% | -43.63% | -13.99% | -60.86% |
| D&A (Non-Cash Add-back) | 5.5K | 6.68K | 6.68K | 206.3K | 2.62M | 3.18M | 3.16M | 527K | 0 |
| EBIT | -1.51M | -857.94K | -1.12M | -33.77M | -93.85M | -66.33M | -95.73M | -106.4M | 0 |
| Net Interest Income | 0 | 0 | 0 | -164K | -359K | 0 | 4.66M | 9.28M | 0 |
| Interest Income | 8.4K | 4K | 0 | 0 | 0 | 1.5M | 5.58M | 11.56M | 10.96M |
| Interest Expense | 0 | 0 | 0 | 164K | 359K | 1.5M | 920K | 2.28M | -5.48M |
| Other Income/Expense | 8.4K | 4K | -647.63K | -907K | -339K | 9.54M | -1.87M | -4.76M | -17.48M |
| Pretax Income | -1.23M▲ 0% | -857.94K▲ 30.1% | -1.12M▼ 30.1% | -33.94M▼ 2941.5% | -94.19M▼ 177.6% | -56.8M▲ 39.7% | -95.73M▼ 68.6% | -108.68M▼ 13.5% | -183.79M▼ 69.1% |
| Pretax Margin % | - | - | - | - | - | - | - | - | - |
| Income Tax | -2 | -2 | -4 | 0 | -1.16M | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 1.23% | 0% | 0% | 0% | 0% |
| Net Income | -1.23M▲ 0% | -857.94K▲ 30.1% | -1.12M▼ 30.1% | -34.1M▼ 2956.2% | -93.04M▼ 172.8% | -56.8M▲ 39.0% | -95.73M▼ 68.6% | -108.68M▼ 13.5% | -183.79M▼ 69.1% |
| Net Margin % | - | - | - | - | - | - | - | - | - |
| Net Income Growth % | -581.9% | 30.06% | -30.06% | -2956.18% | -172.82% | 38.95% | -68.55% | -13.52% | -69.12% |
| Net Income (Continuing) | -1.23M | -857.94K | -1.12M | -33.94M | -93.04M | -56.8M | -95.73M | -108.68M | -183.79M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -4.85▲ 0% | -2.74▲ 43.5% | -2.94▼ 7.3% | -1.92▲ 34.7% | -3.40▼ 77.1% | -1.84▲ 45.9% | -2.44▼ 32.6% | -0.15▲ 93.9% | -2.06▼ 1273.3% |
| EPS Growth % | -116.52% | 43.51% | -7.3% | 34.69% | -77.08% | 45.88% | -32.61% | 93.85% | -1273.33% |
| EPS (Basic) | -4.85 | -2.74 | -2.94 | -1.92 | -3.40 | -1.84 | -2.44 | -1.54 | -2.06 |
| Diluted Shares Outstanding | 252.82K | 312.55K | 379.41K | 17.75M | 27.38M | 30.86M | 39.16M | 704.61M | 89.33M |
| Basic Shares Outstanding | 252.82K | 312.55K | 379.41K | 17.75M | 27.38M | 30.86M | 39.16M | 70.46M | 89.33M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Mind Medicine (MindMed) Inc. (MNMD) balance sheet — assets, liabilities & shareholders' equity
| Line item | Aug'17 | Aug'18 | Aug'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 1.77M | 198.63K | 2.94M | 81.52M | 137.22M | 146.06M | 103.87M | 281.62M | 419.32M |
| Cash & Short-Term Investments | 1.69M | 154.79K | 17.93K | 80.09M | 133.54M | 142.14M | 99.7M | 273.74M | 411.59M |
| Cash Only | 3.98K | 154.79K | 17.93K | 80.09M | 133.54M | 142.14M | 99.7M | 273.74M | 257.84M |
| Short-Term Investments | 1.69M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 153.76M |
| Accounts Receivable | 10.28K | 8.24K | 5.08K | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | 0.05 | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 2.91M | 0 | 0 | 0 | 4.17M | 7.88M | 7.73M |
| Total Non-Current Assets | 2.26M | 3.33M | 0 | 0 | 26.79M | 23.94M | 20.67M | 20.53M | 20.78M |
| Property, Plant & Equipment | 70.5K | 63.88K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 19.92M | 19.92M | 19.92M | 19.92M | 19.92M |
| Intangible Assets | 0 | 0 | 0 | 0 | 6.87M | 3.69M | 527K | 0 | 0 |
| Long-Term Investments | 69.99K | 136K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 2.12M | 3.13M | 0 | 0 | 0 | 331K | 224K | 613K | 862K |
| Total Assets | 4.03M▲ 0% | 3.53M▼ 12.3% | 2.94M▼ 16.9% | 81.52M▲ 2675.7% | 164M▲ 101.2% | 169.99M▲ 3.7% | 124.54M▼ 26.7% | 302.15M▲ 142.6% | 440.1M▲ 45.7% |
| Asset Turnover | - | - | - | - | - | - | - | - | - |
| Asset Growth % | 1886.43% | -12.28% | -16.87% | 2675.66% | 101.18% | 3.65% | -26.74% | 142.61% | 45.66% |
| Total Current Liabilities | 80.44K | 8.23K | 198.96K | 3.01M | 10.41M | 17.89M | 32.25M | 38.85M | 66.7M |
| Accounts Payable | 0 | 0 | 0 | 2.02M | 4.18M | 2.11M | 4.14M | 2.01M | 5.35M |
| Days Payables Outstanding | - | - | - | - | - | 239.07 | 477.43 | 1.39K | - |
| Short-Term Debt | 15.74K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 64.7K | 8.23K | 198.96K | -462K | 2.29M | 13.03M | 20.74M | 30.41M | 66.7M |
| Current Ratio | 22.03x | 24.14x | 14.76x | 27.10x | 13.18x | 8.16x | 3.22x | 7.25x | 6.29x |
| Quick Ratio | 22.03x | 24.14x | 14.76x | 27.10x | 13.18x | 8.16x | 3.22x | 7.25x | 6.29x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 0 | 2.64M | 1.93M | 1.18M | 14.16M | 21.85M | 41.08M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 14.13M | 21.85M | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 2.64M | 1.93M | 1.18M | 32K | 0 | 41.08M |
| Total Liabilities | 80.44K | 8.23K | 198.96K | 5.65M | 12.34M | 19.08M | 46.41M | 60.7M | 107.77M |
| Total Debt | 15.74K | 0 | 0 | 0 | 0 | 72K | 14.13M | 21.85M | 0 |
| Net Debt | 11.77K | -154.79K | -17.93K | -80.09M | -133.54M | -142.07M | -85.58M | -251.89M | -257.84M |
| Debt / Equity | 0.00x | - | - | - | - | 0.00x | 0.18x | 0.09x | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | -201.40x | -261.43x | -44.37x | -102.03x | -45.52x | - |
| Total Equity | 3.95M▲ 0% | 3.52M▼ 10.7% | 2.74M▼ 22.3% | 75.87M▲ 2671.0% | 151.66M▲ 99.9% | 150.92M▼ 0.5% | 78.13M▼ 48.2% | 241.45M▲ 209.0% | 332.33M▲ 37.6% |
| Equity Growth % | 3001.1% | -10.7% | -22.32% | 2670.96% | 99.91% | -0.49% | -48.23% | 209.02% | 37.64% |
| Book Value per Share | 15.61 | 11.28 | 7.22 | 4.27 | 5.54 | 4.89 | 2.00 | 0.34 | 3.72 |
| Total Shareholders' Equity | 3.95M | 3.52M | 2.74M | 75.87M | 151.66M | 150.92M | 78.13M | 241.45M | 332.33M |
| Common Stock | 5.16M | 5.32M | 5.56M | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -1.81M | -2.59M | -3.65M | -44.64M | -137.67M | -194.47M | -290.2M | -398.88M | -582.67M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -41.38K | 19.14K | 34.69K | 284K | 1.05M | 627K | 343K | 819K | 1.08M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Mind Medicine (MindMed) Inc. (MNMD) cash flow — operating, investing & free cash flow history
| Line item | Aug'17 | Aug'18 | Aug'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -665.98K | -722.45K | -208.12K | -23.6M | -45.82M | -50.14M | -64.36M | -79.13M | -131.56M |
| Operating CF Margin % | - | - | - | - | - | - | - | - | - |
| Operating CF Growth % | -2400.32% | -8.48% | 71.19% | -11238.22% | -94.19% | -9.42% | -28.37% | -22.94% | -66.26% |
| Net Income | -1.23M | -857.94K | -1.12M | -33.94M | -93.04M | -56.8M | -95.73M | -108.68M | -183.79M |
| Depreciation & Amortization | 5.5K | 6.68K | 6.68K | 0 | 2.62M | 3.18M | 3.16M | 527K | 0 |
| Stock-Based Compensation | 0 | 0 | 0 | 7.41M | 42.72M | 13.71M | 15.49M | 16.91M | 20.1M |
| Deferred Taxes | 0 | 0 | 0 | 0 | -1.16M | 0 | -2.02M | 0 | 0 |
| Other Non-Cash Items | 652.92K | 160.96K | 703.52K | 873K | 1.16M | -6.45M | 8.46M | 15.45M | 32.14M |
| Working Capital Changes | -81.76K | -20.46K | 207.83K | 2.06M | 1.88M | -3.78M | 6.28M | -3.34M | 0 |
| Change in Receivables | -4.91K | 1.68K | 3.02K | -13K | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 13K | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 544K | 1.28M | -2.06M | 2.02M | -2.13M | 3.34M |
| Cash from Investing | -3.67M | 541.34K | -213.15K | 0 | -297K | 0 | 0 | 0 | -151.61M |
| Capital Expenditures | -2.15M | -1.04M | -313.46K | 0 | 0 | 0 | 0 | 0 | 0 |
| CapEx % of Revenue | - | - | - | - | - | - | - | - | - |
| Acquisitions | 0 | 0 | 0 | 0 | -297K | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | 30.44K | 0 | 100.3K | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 4.35M | 312.05K | 288.36K | 96.7M | 98.82M | 59.05M | 21.85M | 253.2M | 267.27M |
| Debt Issued (Net) | 14.95K | -15.45K | 0 | 0 | 0 | 0 | 14.16M | 10.86M | 0 |
| Equity Issued (Net) | 1000K | 327.5K | 288.36K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | 0 | 0 | 24.71M | 16.9M | 16.75M | 163K | -7.66M | 267.27M |
| Net Change in Cash | -6.98K▲ 0% | 150.81K▲ 2259.4% | -136.86K▼ 190.7% | 73.39M▲ 53724.9% | 53.45M▼ 27.2% | 8.6M▼ 83.9% | -42.44M▼ 593.3% | 174.04M▲ 510.1% | -15.9M▼ 109.1% |
| Free Cash Flow | -2.82M▲ 0% | -1.77M▲ 37.3% | -521.58K▲ 70.5% | -23.6M▼ 4424.2% | -45.82M▼ 94.2% | -50.14M▼ 9.4% | -64.36M▼ 28.4% | -79.13M▼ 22.9% | -131.56M▼ 66.3% |
| FCF Margin % | - | - | - | - | - | - | - | - | - |
| FCF Growth % | -4862.73% | 37.27% | 70.47% | -4424.17% | -94.19% | -9.42% | -28.37% | -22.94% | -66.26% |
| FCF per Share | -11.14 | -5.65 | -1.37 | -1.33 | -1.67 | -1.62 | -1.64 | -0.11 | -1.47 |
| FCF Conversion (FCF/Net Income) | 0.54x | 0.84x | 0.19x | 0.69x | 0.49x | 0.88x | 0.67x | 0.73x | 0.72x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.22M | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Mind Medicine (MindMed) Inc. (MNMD) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -87.45% | -60.22% | -22.96% | -35.63% | -86.76% | -81.78% | -37.54% | -83.59% | -68.01% | -64.06% |
| Return on Invested Capital (ROIC) | -42.15% | -45.46% | -17.64% | -11.53% | - | -1012.89% | -368.89% | -10014.15% | - | -389.48% |
| Debt / Equity | - | 0.00x | - | - | - | - | 0.00x | 0.18x | 0.09x | - |
| Interest Coverage | - | - | - | - | -201.40x | -261.43x | -44.37x | -102.03x | -45.52x | - |
| FCF Conversion | 0.15x | 0.54x | 0.84x | 0.19x | 0.69x | 0.49x | 0.88x | 0.67x | 0.73x | 0.72x |
Mind Medicine (MindMed) Inc. (MNMD) SEC filings — annual & quarterly reports (10-K, 10-Q)
Feb 26, 2026·SEC
Jan 29, 2026·SEC
Jan 12, 2026·SEC
Mind Medicine (MindMed) Inc. (MNMD) stock FAQ — growth, dividends, profitability & financials explained
Mind Medicine (MindMed) Inc. (MNMD) grew revenue by 0.0% over the past year. Growth has been modest.
Mind Medicine (MindMed) Inc. (MNMD) reported a net loss of $183.8M for fiscal year 2025.
Mind Medicine (MindMed) Inc. (MNMD) has a return on equity (ROE) of -64.1%. Negative ROE indicates the company is unprofitable.
Mind Medicine (MindMed) Inc. (MNMD) had negative free cash flow of $161.1M in fiscal year 2025, likely due to heavy capital investments.
Mind Medicine (MindMed) Inc. (MNMD) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates