MindForge Inc. (MF) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 19, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-K for Q2 FY2026, filed Apr 3, 2026. Each column of the statement tables below links to the filing it was taken from.
MindForge Inc. (MF) reported $29.7M in revenue for fiscal year 2025, down 42.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
MindForge Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
MindForge Inc. scores 8.75, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($23.9M) relative to total liabilities ($2.0M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
MindForge Inc. passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). No profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
MindForge Inc. reported a net loss of $2.7M while operations used $2.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
MindForge Inc. reported an operating loss of $3.1M against $33K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q2 2026.
Cash & Balance Sheet
MindForge Inc. held $9.9M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
None of these metrics is reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
MF Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
MF Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-K | Q4'2510-K | Q2'2510-Q | Q4'2410-K | Q2'2410-Q | Q4'2310-K |
|---|---|---|---|---|---|---|
| Total Assets | $38.3M+69.3% | $21.0M+24.9% | $22.6M+141.9% | $16.8M+246.0% | $9.4M | $4.9M |
| Current Assets | $17.9M-20.9% | $15.1M-10.0% | $22.6M+148.4% | $16.7M+263.6% | $9.1M | $4.6M |
| Cash & Equivalents | $9.9M-47.2% | $11.2M+131.3% | $18.7M+264.1% | $4.8M+273.7% | $5.1M | $1.3M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $28K-13.5% | $227K-42.7% | $32K-87.8% | $396K+49.7% | $266K | $265K |
| Long-Term Investments | $74K | $81K | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.4M-50.6% | $2.0M-32.8% | $2.8M-20.4% | $2.9M-22.8% | $3.5M | $3.8M |
| Current Liabilities | $870K-68.7% | $1.5M-49.5% | $2.8M-20.4% | $2.9M-23.0% | $3.5M | $3.8M |
| Non-Current Liabilities | $500K+147849.4% | $491K+6242.9% | $338 | $8K | $0 | $0 |
| Total Equity | $37.0M+86.0% | $19.0M+37.1% | $19.9M+238.4% | $13.9M+1195.3% | $5.9M | $1.1M |
| Retained Earnings | -$13.9M-1833.4% | -$3.8M-204.5% | -$718K-66.6% | -$1.2M-475.5% | -$431K | -$214K |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
MF Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
MF Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Where MindForge Inc. Ranks
Frequently Asked Questions
What is MindForge Inc.'s annual revenue?
MindForge Inc. (MF) reported $29.7M in total revenue for fiscal year 2025. This represents a -42.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is MindForge Inc.'s revenue growing?
MindForge Inc. (MF) revenue declined by 42.5% year-over-year, from $51.6M to $29.7M in fiscal year 2025.
Is MindForge Inc. profitable?
No, MindForge Inc. (MF) reported a net income of -$2.7M in fiscal year 2025, with a net profit margin of -9.2%.
What is MindForge Inc.'s EBITDA?
MindForge Inc. (MF) had EBITDA of -$3.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is MindForge Inc.'s gross margin?
MindForge Inc. (MF) had a gross margin of 0.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is MindForge Inc.'s operating margin?
MindForge Inc. (MF) had an operating margin of -10.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is MindForge Inc.'s net profit margin?
MindForge Inc. (MF) had a net profit margin of -9.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is MindForge Inc.'s return on equity (ROE)?
MindForge Inc. (MF) has a return on equity of -14.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is MindForge Inc.'s operating cash flow?
MindForge Inc. (MF) recorded an outflow of $2.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are MindForge Inc.'s total assets?
MindForge Inc. (MF) had $21.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What is MindForge Inc.'s current ratio?
MindForge Inc. (MF) had a current ratio of 10.24 as of fiscal year 2025, which is generally considered healthy.
What is MindForge Inc.'s debt-to-equity ratio?
MindForge Inc. (MF) had a debt-to-equity ratio of 0.10 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is MindForge Inc.'s return on assets (ROA)?
MindForge Inc. (MF) had a return on assets of -13.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is MindForge Inc.'s P/E ratio?
MindForge Inc. (MF) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $23.9M as of Sep 19, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is MindForge Inc.'s price-to-sales ratio?
MindForge Inc. (MF) trades at 0.8x sales, its market capitalization divided by revenue of $29.7M revenue, FY2025. The market capitalization is $23.9M as of Sep 19, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is MindForge Inc.'s Altman Z-Score?
MindForge Inc. (MF) has an Altman Z-Score of 8.75, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is MindForge Inc.'s Piotroski F-Score?
MindForge Inc. (MF) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are MindForge Inc.'s earnings high quality?
MindForge Inc. (MF) reported a net loss of $2.7M while operations used $2.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can MindForge Inc. cover its interest payments?
MindForge Inc. (MF) reported an operating loss of $3.1M against $33K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.