MindWalk (HYFT) Launches ReefIQ AI Platform Amidst Revenue Growth but Expanding Losses
MindWalk Holdings Corp. (NASDAQ: HYFT) has launched its ReefIQ data platform, marking a strategic shift toward recurring revenue from artificial intelligence services. In the first quarter of fiscal year 2027, the company reported C$3.8 million in revenue—a 21.3% increase compared to last year—and gross profit rose by 47.1%, pushing margins up to 58.6%. The platform's deployment with AMD Instinct GPUs and Vultr is expected to reduce enterprise onboarding costs as the business scales. Despite these improvements, operating losses widened significantly, reaching C$6.13 million in Q1 FY27 compared to C$4.16 million a year earlier. Net loss from continuing operations also increased to $6.1 million or $0.13 per share. The company secured a US$30 million credit facility at 7%, offering financial flexibility without dilution, but institutional ownership remains low with only two hedge funds holding positions in the stock. The firm is now focused on expanding ReefIQ's enterprise adoption and transitioning from project-based to platform-driven revenue models.
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Topics: AI credit_facility margin_expansion platform_launch recurring_revenue