{"id":1003449,"date":"2026-09-14T18:07:17","date_gmt":"2026-09-14T22:07:17","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/"},"modified":"2026-09-14T18:07:17","modified_gmt":"2026-09-14T22:07:17","slug":"mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/","title":{"rendered":"MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwleftsingle { border-left: solid black 1pt }\n.bwlistdisc { list-style-type: disc }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadl0 { padding-left: 0px }\n.bwpadl12 { padding-left: 60px }\n.bwpadl6 { padding-left: 30px }\n.bwpadr0 { padding-right: 0px }\n.bwrightsingle { border-right: solid black 1pt }\n.bwrowaltcolor0 { background-color: #cceeff }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwtopsingle { border-top: solid black 1pt }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth100 { width: 100% }\n.bwwidth15 { width: 15% }\n.bwwidth2 { width: 2% }\n.bwwidth20 { width: 20% }\n.bwwidth40 { width: 40% }\n.bwwidth56 { width: 56% }\n.bwwidth66 { width: 66% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027<\/b><\/p>\n<p>\nReefIQ\u2122 launched commercially, and a US$30 million unsecured credit facility commitment, drawn only as needed, adds balance-sheet flexibility with no dilution.<\/p>\n<p>AUSTIN, Texas&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nMindWalk Holdings Corp. (&#8220;MindWalk&#8221;) (NASDAQ: HYFT), a Bio-Native AI company, today reported financial results for its fiscal 2027 first quarter ended July 31, 2026. The quarter marked the commercial launch of ReefIQ\u2122, MindWalk&#8217;s data platform, and the start of its shift toward recurring, platform-based revenue.<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nRevenue increased 21.3% year over year to $3.8 million.<\/p>\n<\/li>\n<li>\nGross profit increased 47.1% to $2.2 million; gross margin expanded to 58.6% from 48.3%.<\/p>\n<\/li>\n<li>\nNet cash used in operating activities declined to $4.0 million from $4.2 million, even as MindWalk stepped up sales and marketing investment behind the ReefIQ\u2122 launch and enterprise rollout.<\/p>\n<\/li>\n<li>\nNet loss from continuing operations was $6.1 million, or $0.13 per share, compared with $4.1 million, or $0.09 per share, reflecting planned investment in the commercial infrastructure for ReefIQ\u2122 enterprise adoption.<\/p>\n<\/li>\n<\/ul>\n<p><b>Business Highlights<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nCommercially launched ReefIQ\u2122, MindWalk&#8217;s data platform, in June, and is in active negotiations with multiple large pharmaceutical companies on enterprise deployments.<\/p>\n<\/li>\n<li><i>Roughly 80% of the commercial funnel by value now sits in partnership-structured engagements<\/i> rather than discrete projects, spanning data management, ReefIQ, and multi-target discovery.\n<\/li>\n<li>\nValidated a production deployment on AMD Instinct GPUs with engineering partner AMD and Vultr, giving ReefIQ\u2122 the compute capacity to onboard enterprise clients and run more programs at lower cost as recurring revenue scales.<\/p>\n<\/li>\n<li>\nSubsequent to quarter-end, obtained a binding commitment for a senior unsecured revolving credit facility of up to US$30 million at a fixed 7.00% rate, with no financial maintenance covenants, no warrants or conversion feature, and no pledge of assets, providing the balance sheet to scale ReefIQ\u2122 enterprise onboarding without dilution.<\/p>\n<\/li>\n<\/ul>\n<p>\n&#8220;We delivered a strong quarter, with revenue up 21% and gross margin expanding to 59%, while launching ReefIQ\u2122 into a market moving toward exactly what we built,&#8221; said Jennifer Bath, PhD, President and Chief Executive Officer of MindWalk. &#8220;Our discovery business, which pairs wet-lab biologics with <i>in silico<\/i> capabilities for 19 of the top 20 pharmaceutical companies, is the foundation. On top of it, ReefIQ opens the door to enterprise partnerships of a scale well beyond our historical recurring agreements, and new partner engagements under discussion are increasingly structured as platform partnerships, where we share in the economics of the assets we help create. The larger loss this quarter reflects deliberate investment in ReefIQ&#8217;s enterprise rollout.&#8221;<\/p>\n<p>\n\u201cThe US$30 million facility we announced today gives us the flexibility to fund that rollout as needed, without issuing a single share,&#8221; continued Dr. Bath. &#8220;No warrants or conversion feature, and no pledge of our assets. Our commercial model is shifting to recurring, compounding revenue with ReefIQ at its center, and this gives us the balance sheet to make that shift on our own terms.&#8221;<\/p>\n<p><b>Fiscal First Quarter 2027 Financial Summary<\/b><\/p>\n<p><i>Quarter ended July 31 (in thousands of Canadian dollars, except per-share data)<\/i><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl0 bwwidth40\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Metric<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>FQ1 2027<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>FQ1 2026<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Change<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth40\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nRevenue<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,834<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,161<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n+21%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth40\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nGross profit<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,246<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,527<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n+47%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth40\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nGross margin<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n58.6%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n48.3%<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n+10.3 pts<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth40\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal operating expenses<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n8,375<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5,686<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n+47%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth40\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOperating loss<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(6,129)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4,159)<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n-47%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth40\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet loss from continuing operations<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(6,085)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4,088)<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n-49%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth40\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet loss for the quarter (1)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(6,085)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2,959)<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n-106%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth40\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLoss per share, continuing operations<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.13)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.09)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.04)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth40\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet cash used in operating activities<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4,042)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4,213)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20 bwalignr\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignr\">\n+4%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth40\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAdjusted EBITDA from continuing operations<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(5,091)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(3,702)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth20 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n-38%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><i>(1) The prior-year period includes $1.1 million of net income from discontinued operations. There were no discontinued operations in the current period.<\/i><\/p>\n<p><b><i>Non-IFRS Measures.<\/i><\/b><i> This release includes Adjusted EBITDA, a non-IFRS financial measure defined as net loss before income taxes, amortization and depreciation, interest, foreign exchange gains and losses, and share-based payments. Management uses Adjusted EBITDA to evaluate operating performance. It has no standardized meaning under IFRS and may not be comparable to similar measures presented by other companies. A reconciliation of net loss to Adjusted EBITDA is provided at the end of this release.<\/i><\/p>\n<p><b>Fiscal First Quarter Financial Results<\/b><\/p>\n<p>\nRevenue for the three months ended July 31, 2026, was $3.8 million, up 21.3% from $3.2 million in the prior-year period. Gross profit rose 47.1% to $2.2 million, and gross margin expanded to 58.6% from 48.3%, as revenue grew on a cost of sales that held at $1.6 million.<\/p>\n<p>\nOperating expenses were $8.4 million, compared with $5.7 million. Sales and marketing expenses rose to $3.2 million from $1.3 million, reflecting planned investment in the commercial team and infrastructure to bring ReefIQ\u2122 to market and to onboard and scale enterprise deployments as agreements are signed, including non-recurring costs incurred in the quarter. General and administrative expenses were $3.9 million, compared with $3.3 million, with the increase primarily non-cash stock-based compensation. Research and development expenses were $1.3 million, compared with $1.0 million, reflecting additional engineering capacity to support the commercial development of the platform.<\/p>\n<p>\nOperating loss was $6.1 million, compared with $4.2 million, as planned investment in the ReefIQ enterprise rollout and higher non-cash stock-based compensation more than offset a $0.7 million increase in gross profit. Net loss from continuing operations was $6.1 million, or $0.13 per share, compared with $4.1 million, or $0.09 per share. Total net loss was $6.1 million, compared with $3.0 million in the prior-year period, which included $1.1 million of income from discontinued operations.<\/p>\n<p>\nNet cash used in operating activities was $4.0 million, compared with $4.2 million in the prior-year period, despite the increase in operating expenses, reflecting the non-cash nature of much of the G&amp;A increase. Cash was $7.6 million at July 31, 2026, compared with $11.3 million at April 30, 2026, before the US$30 million facility commitment described below.<\/p>\n<p><b>Subsequent Event<\/b><\/p>\n<p>\nOn September 14, 2026, MindWalk announced a binding commitment from Sanabil (Cayman) for a senior unsecured revolving credit facility of up to US$30 million at a fixed 7.00% interest rate, drawn as needed. The facility carries no financial maintenance covenants, no warrants or conversion feature, and no pledge of MindWalk assets. Proceeds are intended to support MindWalk&#8217;s shift to recurring, platform-based revenue: onboarding ReefIQ\u2122 and LensAI\u2122 enterprise clients as agreements are signed, and participating in the platform partnerships that increasingly define its commercial model, along with its biologics programs, working capital, and general corporate purposes. The term sheet is binding on both parties, and MindWalk and Sanabil (Cayman) will negotiate a definitive credit agreement with a target closing within 60 days.<\/p>\n<p><b>Conference Call and Webcast Details<\/b><\/p>\n<p><b>Event Date and Time: <\/b>Monday, September 14, 2026, at 5:00 p.m. Eastern Time<\/p>\n<p>\nThe conference call will be webcast live and available for replay via a link provided in the Events section of the Company\u2019s Investor Relations pages at: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fir.mindwalkai.com%2Fevents-and-presentations%2Fdefault.aspx&amp;esheet=54604158&amp;newsitemid=20260914977811&amp;lan=en-US&amp;anchor=https%3A%2F%2Fir.mindwalkai.com%2Fevents-and-presentations%2Fdefault.aspx&amp;index=1&amp;md5=3968e347bfac8c1cd990f47739e06b14\">https:\/\/ir.mindwalkai.com\/events-and-presentations\/default.aspx<\/a><\/p>\n<p><b>Analyst registration URL:<\/b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fevents.q4inc.com%2Fanalyst%2F231176031%3Fpwd%3Dm63SIFiS&amp;esheet=54604158&amp;newsitemid=20260914977811&amp;lan=en-US&amp;anchor=https%3A%2F%2Fevents.q4inc.com%2Fanalyst%2F231176031%3Fpwd%3Dm63SIFiS&amp;index=2&amp;md5=66a8d6d87528ae5e6bd8ab59643fdba0\">https:\/\/events.q4inc.com\/analyst\/231176031?pwd=m63SIFiS<\/a><\/p>\n<p><b>Webcast Attendee URL: <\/b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fevents.q4inc.com%2Fattendee%2F231176031&amp;esheet=54604158&amp;newsitemid=20260914977811&amp;lan=en-US&amp;anchor=https%3A%2F%2Fevents.q4inc.com%2Fattendee%2F231176031&amp;index=3&amp;md5=653ce70e343ae56db05429103f84ae9b\">https:\/\/events.q4inc.com\/attendee\/231176031<\/a><\/p>\n<p>\nAnyone listening to the call is encouraged to read the Company\u2019s periodic reports available on the Company\u2019s profile at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.sedarplus.ca&amp;esheet=54604158&amp;newsitemid=20260914977811&amp;lan=en-US&amp;anchor=www.sedarplus.ca&amp;index=4&amp;md5=32fbc77062e563e2bc28e3a6a594af66\">www.sedarplus.ca<\/a> and <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.sec.gov&amp;esheet=54604158&amp;newsitemid=20260914977811&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=5&amp;md5=60f0dc0ab035f74bd8e726d8f7094c37\">www.sec.gov<\/a>, including the discussion of risk factors and historical results of operations and financial condition in those reports.<\/p>\n<p><b>About MindWalk Holdings Corp.<\/b><\/p>\n<p>\nMindWalk Holdings Corp. (NASDAQ: HYFT) is a Bio-Native AI company building the BioIntelligence infrastructure that life sciences AI and agentic AI require, integrating AI, data, and advanced wet lab capabilities into one connected discovery ecosystem. At its core is HYFT\u00ae Technology, a proprietary, function-aware representation of biology. Its HYFT pattern-objects span sequence and structural biology and, refined over 20 years of curation, form a continuously evolving biological representation of 660 million patterns and 25 billion relationships. This enriched biological representation is the architecture behind ReefIQ\u2122, the biological data substrate that provides context for life sciences, enriching data at ingestion and growing more valuable with each program run on it, and LensAI\u2122, the reasoning and application layer for target discovery, candidate diligence, portfolio decision support, and the agentic AI workflows pharmaceutical companies are now deploying. By design, value compounds in this HYFT representation layer, not in any individual AI model that runs on top of it.<\/p>\n<p><b>Investor Contact<\/b><\/p>\n<p>\nLouie Toma, CPA, CFA, Managing Director, CoreIR, <a rel=\"nofollow\" href=\"mailto:investors@mindwalkai.com\">investors@mindwalkai.com<\/a><\/p>\n<p><b>Trademarks<\/b><\/p>\n<p>\nHYFT\u00ae is a registered trademark of MindWalk Holdings Corp. ReefIQ\u2122 and LensAI\u2122 are trademarks of MindWalk Holdings Corp. or its subsidiaries; ReefIQ\u2122 registration is pending. All other trademarks are the property of their respective owners.<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nThis press release contains forward-looking statements within the meaning of applicable United States and Canadian securities laws. Forward-looking statements are based on management\u2019s current expectations and assumptions and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially, including: risks relating to MindWalk\u2019s history of net losses and its ability to achieve or sustain profitability; the level and trend of operating cash usage and MindWalk\u2019s ability to fund operations; the risk that MindWalk and the lender do not negotiate and execute a definitive credit agreement, or do not do so by the target closing date, and MindWalk\u2019s ability to satisfy the conditions to closing and to drawing under the facility; the market acceptance and commercial outcomes of ReefIQ\u2122 and LensAI\u2122, including the ability to convert engagements into contracted, recurring arrangements; the build-out and certification of compliance capabilities for regulated workloads; the technical performance of AI-based discovery methods and of the underlying compute infrastructure; the outcomes and financial effects of the divestiture of non-core operations; intellectual property risks, including the status and scope of pending patent applications; the ability to enter into pharmaceutical, infrastructure, or other partnership arrangements; competition; regulatory determinations; and capital markets conditions. Additional information is available in MindWalk\u2019s Annual Report on Form 20-F and other filings on SEDAR+ (sedarplus.ca) and EDGAR (sec.gov\/edgar). Except as required by law, MindWalk undertakes no obligation to update any forward-looking statement. [Legal to review tailored risk factors before issuance.]<\/p>\n<p>\nThe reconciliation of Net Loss to Adjusted EBITDA from continuing operations is presented in the table below:<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwpadl0 bwwidth56\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"3\" class=\"bwvertalignb bwtopsingle bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Three months ended<br \/>\n<\/b><br \/><b>July 31,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth56\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><i>(in thousands)<\/i><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<br \/>\n<\/b><br \/><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<br \/>\n<\/b><br \/><b>$<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth56\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet loss<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(6,085)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4,088)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth56\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncome taxes<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n158<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(91)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth56\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAmortization and depreciation<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n266<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n201<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth56\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nForeign exchange realized loss<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(23)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n136<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth56\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nInterest expense<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n55<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n59<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth56\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nInterest, accretion and other income<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(18)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(5)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth56\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nUnrealized foreign exchange loss<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(184)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n31<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwsinglebottom bwwidth56\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nShare-based payments<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n740<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n55<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth56\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Adjusted EBITDA<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(5,091)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth20\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(3,702)<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n*All financial figures are in Canadian Dollars (CAD) unless otherwise stated.<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwpadl0\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>MINDWALK HOLDINGS CORP.<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(Unaudited &#8211; Expressed in Canadian dollars)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwpadl0\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td colspan=\"3\" class=\"bwsinglebottom bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Three months ended July 31,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><i>(in thousands, except share data)<\/i><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<br \/>\n<\/b><br \/><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<br \/>\n<\/b><br \/><b>$<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>REVENUE<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,834<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,161<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwsinglebottom bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>COST OF SALES<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,588<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,634<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>GROSS PROFIT<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,246<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,527<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>EXPENSES<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwwidth66 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nResearch and development<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,285<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,049<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth66 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSales and marketing<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,196<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,343<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwsinglebottom bwwidth66 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nGeneral and administrative<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,894<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,294<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n8,375<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5,686<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Loss before other income (expenses) and income taxes<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(6,129)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4,159)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>OTHER INCOME (EXPENSES)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwwidth66 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nGrant income<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth66 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nInterest, accretion and other income<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n18<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwsinglebottom bwwidth66 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nUnrealized foreign exchange loss<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n184<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(31)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n202<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(20)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Loss before income taxes and discontinued operations<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(5,927)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4,179)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Income taxes<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(158)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n91<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>NET LOSS FROM CONTINUING OPERATIONS<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(6,085)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4,088)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>NET INCOME FROM DISCONTINUED OPERATIONS<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,129<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>NET LOSS FOR THE PERIOD<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(6,085)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2,959)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>OTHER COMPREHENSIVE INCOME (LOSS)<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwrowaltcolor0 bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Items that will be reclassified subsequently to loss<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"bwsinglebottom bwpadl6\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nExchange difference on translating foreign operations<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(18)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n70<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>COMPREHENSIVE LOSS FOR THE PERIOD<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(6,103)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2,889)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>LOSS PER SHARE FROM CONTINUING OPERATIONS\u2013 BASIC AND DILUTED<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.13)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(0.09)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>INCOME PER SHARE FROM DISCONTINUED OPERATIONS\u2013 BASIC AND DILUTED<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n0.02<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"bwsinglebottom bwpadl0\" rowspan=\"1\">\n<p class=\"bwcellpmargin\"><b>WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n46,807,089<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n46,154,118<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>MINDWALK HOLDINGS CORP.<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>CONSOLIDATED STATEMENTS OF FINANCIAL POSITION<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(Unaudited &#8211; Expressed in Canadian dollars)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><i>(in thousands)<\/i><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>July 31,<br \/>\n<\/b><br \/><b>2026<br \/>\n<\/b><br \/><b>$<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>April 30,<br \/>\n<\/b><br \/><b>2026<br \/>\n<\/b><br \/><b>$<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>ASSETS<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCurrent assets<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwwidth66 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n7,623<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11,348<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth66 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAmounts receivable, net<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,020<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2,529<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwwidth66 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTaxes receivable<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n347<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n472<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth66 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nInventory<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n611<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n492<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwwidth66 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nUnbilled revenue<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n851<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n581<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth66 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPrepaid expenses<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n762<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n798<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12,214<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n16,220<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nRestricted cash<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n128<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n126<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDeposit on equipment<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n26<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n25<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nProperty and equipment<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,997<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4,047<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwsinglebottom bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDeferred tax asset<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n958<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n958<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal assets<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n17,323<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n21,376<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>LIABILITIES<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCurrent liabilities<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwwidth66 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAccounts payable and accrued liabilities<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5,442<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4,178<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwwidth66 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDeferred revenue<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n529<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,073<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwwidth66 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncome taxes payable<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n188<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n81<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwwidth66 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLeases<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n483<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n457<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6,642<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5,789<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLeases<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,001<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,069<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwsinglebottom bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDeferred income tax liability<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n769<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n769<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal liabilities<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n10,412<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n9,627<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>SHAREHOLDERS&#8217; EQUITY<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nShare capital<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n137,788<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n137,263<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nContributed surplus<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n14,848<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n14,108<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAccumulated other comprehensive income<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,103<\/p>\n<\/td>\n<td class=\"bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3,121<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0 bwsinglebottom bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAccumulated deficit<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(148,828)<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwsinglebottom bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl0 bwsinglebottom bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(142,743)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6,911<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11,749<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth66\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal liabilities and shareholders\u2019 equity<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n17,323<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwwidth2\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n21,376<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwpadl0\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>MINDWALK HOLDINGS CORP.<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\nFor the three months ended July 31, 2026 and 2025<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"bwpadl0 bwalignc\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(Unaudited &#8211; Expressed in Canadian dollars)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwpadl0\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\" \/>\n<td colspan=\"3\" class=\"bwsinglebottom bwpadl0\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>Three months ended July 31,<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><i>(in thousands)<\/i><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2026<br \/>\n<br \/>$<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2025<br \/>\n<br \/>$<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Operating activities:<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet loss for the period<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(6,085)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2,959)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nItems not affecting cash:<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAmortization and depreciation<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n266<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n942<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nForeign exchange<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(142)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n41<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nShare-based expense<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n740<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n55<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(5,221)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1,921)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nChanges in non-cash working capital related to operations:<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAmounts receivable<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n581<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(850)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nInventory<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(119)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(84)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nUnbilled revenue<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(237)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(627)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPrepaid expenses<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n39<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(329)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAccounts payable and accrued liabilities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,216<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(986)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSales and income taxes payable and receivable<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n214<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n279<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwsinglebottom bwpadl12\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDeferred revenue<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(515)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n305<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet cash used in operating activities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4,042)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(4,213)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Investing activities:<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPurchase of property and equipment<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(78)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(282)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwsinglebottom bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDeferred acquisition payments<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(312)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet cash used in investing activities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(78)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(594)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Financing activities:<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nProceeds on share issuance, net of transaction costs<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n525<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(48)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwsinglebottom bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nRepayment of leases<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(179)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwsinglebottom bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(323)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet cash used in financing activities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n346<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(371)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncrease (decrease) in cash during the period<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(3,774)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(5,178)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash included in asset held for sale<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(646)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nForeign exchange<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n51<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n57<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash \u2013 beginning of the period<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n11,474<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n10,791<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash \u2013 end of the period<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n7,751<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5,024<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash is comprised of:<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n7,623<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4,897<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nRestricted cash<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n128<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n127<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n7,751<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5,024<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash paid for interest<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash paid for income tax<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Cash from discontinued operations:<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet cash used in operating activities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwrowaltcolor0 bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n754<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet cash used in investing activities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0\" rowspan=\"1\" colspan=\"1\" \/>\n<td class=\"bwvertalignb bwpadl0 bwpadr0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(100)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrowaltcolor0 bwpadl6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet cash used in financing activities<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u2014<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwrowaltcolor0 bwpadl0 bwpadr0 bwpadb3\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(359)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n*All financial figures are in Canadian Dollars (CAD) unless otherwise stated.<\/p>\n<p><b>Source: MindWalk Holdings Corp.<\/b><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260914977811r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20260914977811\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20260914977811\/en\/<\/a><\/span><\/p>\n<p><b>Investor Relations Contact<br \/>\n<br \/>Louie Toma, CPA, CFA<br \/>\n<br \/>Managing Director, CoreIR<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:investors@mindwalkai.com\">investors@mindwalkai.com<\/a><\/b><\/p>\n<p><b>KEYWORDS:<\/b> Texas United States North America Canada<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Biotechnology Technology Health Pharmaceutical Health Technology Other Technology Research Infectious Diseases Software Artificial Intelligence Science<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20260914977811\/en\/2586413\/3\/Mindwalk_fullcolor_RGB_LG.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027 ReefIQ\u2122 launched commercially, and a US$30 million unsecured credit facility commitment, drawn only as needed, adds balance-sheet flexibility with no dilution. AUSTIN, Texas&#8211;(BUSINESS WIRE)&#8211; MindWalk Holdings Corp. (&#8220;MindWalk&#8221;) (NASDAQ: HYFT), a Bio-Native AI company, today reported financial results for its fiscal 2027 first quarter ended July 31, 2026. The quarter marked the commercial launch of ReefIQ\u2122, MindWalk&#8217;s data platform, and the start of its shift toward recurring, platform-based revenue. Revenue increased 21.3% year over year to $3.8 million. Gross profit increased 47.1% to $2.2 million; gross margin expanded to 58.6% from 48.3%. Net cash used in operating activities declined to $4.0 million from $4.2 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1003449","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027 ReefIQ\u2122 launched commercially, and a US$30 million unsecured credit facility commitment, drawn only as needed, adds balance-sheet flexibility with no dilution. AUSTIN, Texas&#8211;(BUSINESS WIRE)&#8211; MindWalk Holdings Corp. (&#8220;MindWalk&#8221;) (NASDAQ: HYFT), a Bio-Native AI company, today reported financial results for its fiscal 2027 first quarter ended July 31, 2026. The quarter marked the commercial launch of ReefIQ\u2122, MindWalk&#8217;s data platform, and the start of its shift toward recurring, platform-based revenue. Revenue increased 21.3% year over year to $3.8 million. Gross profit increased 47.1% to $2.2 million; gross margin expanded to 58.6% from 48.3%. Net cash used in operating activities declined to $4.0 million from $4.2 &hellip; Continue reading &quot;MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-09-14T22:07:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260914977811r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027\",\"datePublished\":\"2026-09-14T22:07:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\\\/\"},\"wordCount\":2089,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20260914977811r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\\\/\",\"name\":\"MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027 - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20260914977811r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"datePublished\":\"2026-09-14T22:07:17+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\\\/#primaryimage\",\"url\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20260914977811r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"contentUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20260914977811r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027 - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/","og_locale":"en_US","og_type":"article","og_title":"MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027 - Market Newsdesk","og_description":"MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027 ReefIQ\u2122 launched commercially, and a US$30 million unsecured credit facility commitment, drawn only as needed, adds balance-sheet flexibility with no dilution. AUSTIN, Texas&#8211;(BUSINESS WIRE)&#8211; MindWalk Holdings Corp. (&#8220;MindWalk&#8221;) (NASDAQ: HYFT), a Bio-Native AI company, today reported financial results for its fiscal 2027 first quarter ended July 31, 2026. The quarter marked the commercial launch of ReefIQ\u2122, MindWalk&#8217;s data platform, and the start of its shift toward recurring, platform-based revenue. Revenue increased 21.3% year over year to $3.8 million. Gross profit increased 47.1% to $2.2 million; gross margin expanded to 58.6% from 48.3%. Net cash used in operating activities declined to $4.0 million from $4.2 &hellip; Continue reading \"MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/","og_site_name":"Market Newsdesk","article_published_time":"2026-09-14T22:07:17+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260914977811r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"10 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027","datePublished":"2026-09-14T22:07:17+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/"},"wordCount":2089,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260914977811r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/","name":"MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027 - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260914977811r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","datePublished":"2026-09-14T22:07:17+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/#primaryimage","url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260914977811r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","contentUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260914977811r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en"},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/mindwalk-reports-21-revenue-growth-and-gross-margin-expansion-to-59-in-fiscal-first-quarter-2027\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"MindWalk Reports 21% Revenue Growth and Gross Margin Expansion to 59% in Fiscal First Quarter 2027"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/1003449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=1003449"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/1003449\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=1003449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=1003449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=1003449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}