MNMD · Mind Medicine (Mindmed) Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $41.48M | - | $30.98M | $29.81M | $23.36M | - | $17.19M | $14.64M | $11.71M | - |
| SG&A | $17.74M | - | $14.69M | $11.09M | $8.80M | - | $7.60M | $9.81M | $10.50M | - |
| Total Operating Expenses | $59.22M | - | $45.67M | $40.90M | $32.16M | - | $24.79M | $24.46M | $22.20M | - |
| D&A | - | - | - | - | - | - | - | - | - | - |
| Operating Income | ($59.22M) | - | ($45.67M) | ($40.90M) | ($32.16M) | - | ($24.79M) | ($24.46M) | ($22.20M) | - |
| Interest Expense | $1.25M | - | $1.27M | $2.34M | $602.0K | - | $328.0K | $77.0K | $434.0K | - |
| Income Tax | - | - | - | - | - | - | - | - | - | - |
| Net Income | ($77.10M) | - | ($67.27M) | ($42.74M) | ($23.35M) | - | ($13.68M) | ($5.85M) | ($54.40M) | - |
| EPS - Basic | ($0.71) | - | ($0.78) | ($0.50) | ($0.27) | - | ($0.18) | ($0.08) | ($1.14) | - |
| EPS - Diluted | ($0.71) | - | ($0.78) | ($0.50) | ($0.35) | - | ($0.27) | ($0.26) | ($1.14) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $262.52M | $257.84M | $19.96M | $33.39M | $82.85M | $273.74M | $295.28M | $243.13M | $252.33M | $99.70M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $7.13M | $5.35M | $8.11M | $4.22M | $2.27M | $2.01M | $2.15M | $2.94M | $7.59M | $4.14M |
| Current Assets | $380.56M | $419.32M | $215.85M | $189.14M | $221.70M | $281.62M | $299.36M | $247.69M | $255.47M | $103.87M |
| Total Assets | $401.29M | $440.10M | $236.92M | $265.09M | $275.32M | $302.15M | $319.77M | $268.14M | $275.53M | $124.54M |
| Current Liabilities | $81.11M | $66.70M | $65.42M | $37.96M | $30.48M | $38.85M | $33.27M | $41.85M | $65.27M | $32.25M |
| Long-term Debt | $40.77M | $40.58M | $40.38M | $41.19M | $22.04M | $21.85M | $24.31M | $24.25M | $14.19M | $14.13M |
| Total Liabilities | $122.44M | $107.77M | $106.32M | $79.69M | $52.52M | $60.70M | $57.58M | $66.10M | $79.47M | $46.41M |
| Stockholders' Equity | $278.85M | $332.33M | $130.60M | $185.40M | $222.81M | $241.45M | $262.19M | $202.05M | $196.06M | $78.13M |
| Retained Earnings | ($659.77M) | ($582.67M) | ($532.24M) | ($464.97M) | ($422.23M) | ($398.88M) | ($364.14M) | ($350.45M) | ($344.60M) | ($290.20M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($42.63M) | - | - | - | ($29.42M) | - | - | - | ($16.60M) | - |
| Investing Cash Flow | $42.00M | - | - | - | $0 | - | - | - | - | - |
| Financing Cash Flow | $5.31M | - | - | - | $1.00M | - | - | - | $169.25M | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -19.2% | - | -28.4% | -16.1% | -8.5% | - | -4.3% | -2.2% | -19.7% | - |
| Return on equity | -27.6% | - | -51.5% | -23.1% | -10.5% | - | -5.2% | -2.9% | -27.7% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 4.69 | 6.29 | 3.30 | 4.98 | 7.27 | 7.25 | 9.00 | 5.92 | 3.91 | 3.22 |
| Quick ratio | 4.69 | 6.29 | 3.30 | 4.98 | 7.27 | 7.25 | 9.00 | 5.92 | 3.91 | 3.22 |
| Cash ratio | 3.24 | 3.87 | 0.31 | 0.88 | 2.72 | 7.05 | 8.88 | 5.81 | 3.87 | 3.09 |
| Leverage | ||||||||||
| Debt / Equity | 0.15 | 0.12 | 0.31 | 0.22 | 0.10 | 0.09 | 0.09 | 0.12 | 0.07 | 0.18 |
| Debt / Assets | 0.10 | 0.09 | 0.17 | 0.16 | 0.08 | 0.07 | 0.08 | 0.09 | 0.05 | 0.11 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -47.6x | - | -35.8x | -17.5x | -53.4x | - | -75.6x | -317.6x | -51.2x | - |
| Equity multiplier | 1.44 | 1.32 | 1.81 | 1.43 | 1.24 | 1.25 | 1.22 | 1.33 | 1.41 | 1.59 |
| Liabilities / Assets | 0.31 | 0.24 | 0.45 | 0.30 | 0.19 | 0.20 | 0.18 | 0.25 | 0.29 | 0.37 |
| Efficiency | ||||||||||
| Asset turnover | - | - | - | - | - | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | -84.1% | - | -84.2% | -67.2% | -44.8% | - | -14.7% | 16.2% | -6.4% | - |
| Net income growth (YoY) | -230.2% | - | -391.6% | -630.2% | 57.1% | - | 23.7% | 79.9% | -119.2% | - |
| EPS growth (YoY) | -102.9% | - | -188.9% | -92.3% | 69.3% | - | 40.0% | 65.8% | -75.4% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 25.2% | 37.6% | -50.2% | -8.2% | 13.6% | 209.0% | 173.2% | 90.7% | 50.4% | -48.2% |
Peer comparison
Same SIC group: Medicinal Chemicals & Botanical Products
Comparing Mind Medicine (MindMed) Inc. against the 5 most active filers in the same SIC group.