MF MindForge Inc.

Overview and Growth

Fiscal 2025 results for MindForge Inc. combined $29.67M of revenue with net loss of $2.72M and an operating cash outflow of $2.82M. Revenue of $29.67M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Compared with $51.60M in fiscal 2024, revenue decreased 42.5%, a top-line contraction that reduced operating scale. On a per-share basis, diluted EPS was -$0.37, which connects the reported earnings outcome with the company’s diluted share count. A diluted share base of 7.29M links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. Diluted shares moved 362.2% from 1.58M in fiscal 2024, leaving the current share base higher year over year. The company employed $20.98M of total assets, the balance-sheet base supporting its current operating and cash-flow results. Asset turnover was 1.41x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The first profit layer was $251.69K of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. The gross-profit relationship equaled 0.8% of revenue, quantifying the portion retained before operating expenses were recognized. Operations produced a $3.11M operating loss before non-operating and tax effects. An operating margin of -10.5% reflected costs exceeding revenue-level gross profit by 10.5% of sales. The company ended the period with a net loss of $2.72M, extending the operating result through all remaining items. Measured against revenue, the bottom-line deficit represented 9.2% after all recognized items. Negative EBITDA totaled $3.09M, confirming that the earnings deficit remained before depreciation and amortization. Before income taxes, the company recorded a loss of $2.95M, bridging the operating result to the final net loss. Pretax margin was -10.0%, reflecting a pre-tax loss equal to 10.0% of revenue. The company recognized an income-tax benefit of $236.01K, increasing after-tax earnings relative to the pretax result. The net loss equaled 14.3% of period-end equity, showing the deficit relative to book capital. The net loss equaled 13.0% of period-end assets, showing the deficit relative to the asset base. The net loss widened to $2.72M from $748.54K in fiscal 2024.

Liquidity and Capital Structure

At period end, the $20.98M asset base was financed through $1.96M of liabilities and $19.02M of equity. The near-term balance sheet paired $15.06M of current assets with $1.47M of current liabilities at the reporting date. The current ratio was 10.24x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Cash and equivalents totaled $11.18M, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 760.4% of current liabilities, showing how much near-term coverage came from cash alone. The equity-to-assets relationship was 90.7%, placing book capital against the total resource base. The liabilities-to-assets relationship was 9.3%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 53.3% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 24.9% higher than fiscal 2024 assets of $16.79M, measuring the company’s own balance-sheet change. Against $13.87M of equity in fiscal 2024, the current book-equity balance moved 37.1% and ended higher. Compared with $4.83M in fiscal 2024, the current cash balance moved 131.3% and finished higher.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $2.82M, rather than cash generation from operations. Compared with a $1.35M operating cash outflow in fiscal 2024, the current outflow increased to $2.82M.

Based on the annual report for the fiscal year ending Jun 30, 2025. Analysis generated Oct 21, 2026.