Immunoprecise Antibodies Ltd. ( (HYFT) ) has released its Q1 earnings. Here is a breakdown of the information Immunoprecise Antibodies Ltd. presented to its investors.
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MindWalk Holdings Corp., formerly known as ImmunoPrecise Antibodies, is a Bio-Native AI company that operates at the intersection of technology and biotechnology, focusing on next-generation drug discovery. The company leverages its proprietary LensAI platform and HYFT technology to partner with global pharmaceutical and biotechnology companies, aiming to accelerate biologics discovery and development.
In its latest earnings report, MindWalk Holdings Corp. announced record quarterly revenue of $7.6 million, marking a 45% growth year-over-year. The company also reported a significant improvement in its financial performance, with gross margins expanding to 53% and a narrowed net loss of $3.0 million compared to $4.0 million in the previous year.
Key highlights from the earnings report include a reduction in operating and adjusted EBITDA losses by nearly half, and a strengthened balance sheet with a cash balance of $5.0 million at the end of the quarter. The company also completed a strategic divestiture of its Netherlands operations, generating $16.1 million in net proceeds. Additionally, MindWalk made progress in its dengue vaccine program and further validated its LensAI platform, enhancing its capabilities in biologics development.
Looking ahead, MindWalk Holdings Corp. is focused on advancing its transformation into a fully integrated BioIntelligence company. With a stronger capital structure and a clear focus on scalable AI-driven opportunities, the company is well-positioned to deliver sustainable growth and long-term value, according to its management.