Significant Revenue Growth
The company achieved a 54% year-over-year revenue growth and a 30% sequential increase, reaching record quarterly revenue of $4.1 million from continuing operations.
Improved Gross Profit and Margin
Gross profit increased by 94% to $2.7 million with a 65% gross margin, up from 51% in the same period last year.
Strategic Divestiture
The divestiture of noncore wet lab operations in the Netherlands generated approximately $14.3 million in net proceeds, strengthening the balance sheet.
Launch of BioNative AI and HYFT Technology
MindWalk's BioNative AI and patented HYFT technology provide a strategic advantage in AI-driven R&D, supporting programs like GLP1 receptor agonists and dengue vaccine.
Strong Cash Position
The company ended the quarter with $16.5 million in cash, providing flexibility to execute strategic initiatives.