8-K Announcements
6Material company update
May 12, 2026·SEC
Material company update
May 7, 2026·SEC
Material company update
Apr 22, 2026·SEC
Mind Medicine (MindMed) Inc.(MNMD)Earnings, Financials & Key Ratios
MNMD•NASDAQ
$20.69
Price updated Jun 20, 2026
AboutMind Medicine (MindMed) Inc., a clinical stage biopharmaceutical company, develops novel products to treat brain health disorders related to psychiatry, addiction, pain, and neurology. The company develops MM-120, which is in phase 2 for the treatment of generalized anxiety disorder and attention deficit hyperactivity disorder, as well as for the treatment of chronic pain; and MM-110, an a3ß4 nicotinic cholinergic receptor antagonist that has completed phase 1 for the treatment of opioid withdrawal. It also develops MM-402, a R-enantiomer of 3,4-methylenedioxymethamphetamine for the treatment of core symptoms of autism spectrum disorder. The company is headquartered in Vancouver, Canada.Show more
- Revenue$0
- EBITDA-$178M-72.5%
- Net Income-$184M-69.1%
- EPS (Diluted)-2.06-1273.3%
- ROE-64.06%+5.8%
MNMD Price & Volume
Mind Medicine (MindMed) Inc. (MNMD) stock price & volume — 10-year historical chart
Loading chart...
Accelerating Clinical Burn Challenges Capital Runway Sustainability
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Healthy
Cash Flow:Burning
Primary Risk:Clinical trial execution failure
Key Thesis Takeaways
- MindMed is currently in a high-stakes, pre-revenue development phase, with its valuation heavily contingent on the successful progression of the MM-120 candidate through Phase 3 clinical trials.
- While the company maintains a $262.5 million cash position, the rapid escalation of quarterly R&D spending to $41.5 million in 2026Q1 suggests a narrowing window for achieving critical milestones before requiring additional dilutive financing.
- Investors should monitor the company's ability to manage its $659.8 million accumulated deficit and the potential for further equity dilution as the primary mechanism for funding ongoing operational losses.
Verdict Logic
the company's reliance on external financing is evidenced by a $59.2 million operating loss in 2026Q1 and a cumulative deficit of $659.8 million, which creates significant long-term dilution risk for shareholders.
MNMD Growth Metrics
Mind Medicine (MindMed) Inc. (MNMD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-206.01%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-167.34%
Return on Capital
10 Years-54.58%
5 Years-62.35%
3 Years-62.5%
Last Year-52.24%
MNMD Recent Earnings
Mind Medicine (MindMed) Inc. (MNMD) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 4/12 qtrs (33%)
Q2 2026Latest
Mar 5, 2026Metric
Actual
Est
EPS
$0.51-6.3%
$0.48
Rev
—
—
Q1 2026
Feb 26, 2026Metric
Actual
Est
EPS
$0.56-16.7%
$0.48
Rev
—
—
Q4 2025
Nov 6, 2025Metric
Actual
Est
EPS
$0.78-50.0%
$0.52
Rev
—
—
Q3 2025
Jul 31, 2025Metric
Actual
Est
EPS
$0.50-31.6%
$0.38
Rev
—
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 5, 2026 | $0.51vs $0.48-6.3% | — |
| Q1 2026 | Feb 26, 2026 | $0.56vs $0.48-16.7% | — |
| Q4 2025 | Nov 6, 2025 | $0.78vs $0.52-50.0% | — |
| Q3 2025 | Jul 31, 2025 | $0.50vs $0.38-31.6% | — |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Mind Medicine (MindMed) Inc. (MNMD)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $20.69 | $2.04B | -10.04 | — | — | -64.06% | — | |
| $12.84 | $1.23B | -4.17 | — | — | -151.02% | — | |
| $4.96 | $1.83B | -1.70 | 1227.6% | -19019.44% | -366.21% | — | |
| $6.09 | $303.86M | -13.66 | — | — | -81% | — | |
| $0.44 | $4.45M | -0.21 | -25.96% | -4632.94% | -120.72% | — | |
| $6.22 | $5.63M | -0.83 | — | -6717.4% | -88.41% | — |
Compare MNMD vs Peers
Mind Medicine (MindMed) Inc. (MNMD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MNMD SEC Filings & Documents
Mind Medicine (MindMed) Inc. (MNMD) SEC filings — annual & quarterly reports (10-K, 10-Q)
Get notified when MNMD posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
MNMD Frequently Asked Questions
Mind Medicine (MindMed) Inc. (MNMD) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Is MNMD profitable?
Mind Medicine (MindMed) Inc. (MNMD) reported a net loss of $237.5M for fiscal year 2025.
Dividend & Returns
What is MNMD's return on equity?
Mind Medicine (MindMed) Inc. (MNMD) has a return on equity (ROE) of -64.1%. Negative ROE indicates the company is unprofitable.
What is Mind Medicine (MindMed) Inc.'s free cash flow?
Mind Medicine (MindMed) Inc. (MNMD) had negative free cash flow of $174.3M in fiscal year 2025, likely due to heavy capital investments.