MindWalk (HYFT) Reports Q1 2027 Earnings: Revenue Up 21%, Gross Margin Expands
MindWalk Holdings Corp. reported a 21% year-over-year increase in revenue for the first quarter of fiscal 2027, reaching $3.8 million. This growth was driven by five consecutive quarters of expansion and the company's shift toward recurring revenue following the June launch of its ReefIQ data platform. The gross margin expanded to 58.6% from 48.3%, with stable cost of sales at $1.6 million, resulting in a 47% increase in gross profit to $2.2 million. However, net loss widened to $6.1 million compared to $4.1 million due to increased investments in enterprise adoption initiatives and commercial infrastructure for ReefIQ. MindWalk also announced the establishment of a US$30 million unsecured revolving credit facility at 7% interest with no financial covenants, aiming to provide liquidity without equity dilution.
Topics: cash balance expenses gross margin net loss revenue