Growth & profitability
- Revenue has declined 30.0% per year over the past 3 years.
- Operating margin has contracted, at -10.5% in the latest year.
Financial health
- Operating income covered interest expense -92.8× in the latest year.
MF Financials MindForge Inc.
4 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
ROEROA
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | $30M | -$3M | 0.8% | -10.5% | -14.3% | -13.0% | — | — | $11M |
| 2024 | $52M | -$748542 | 1.3% | -1.7% | -5.4% | -4.5% | -$1M | — | $5M |
| 2023 | $94M | $205911 | 1.7% | 0.2% | 19.2% | 4.2% | -$285805 | — | $1M |
| 2022 | $87M | -$49022 | 1.7% | 0.1% | -5.4% | — | $360140 | — | $2M |
Valuation over time
How the market has priced MF against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has risen from 69.0× (Jun '23) to 143.6× (Nov '23).
- The price-to-sales ratio has risen from 0.4× (Mar '23) to 10.4× (Nov '26).
P/E
P/S
Frequently asked questions
Is MF growing its revenue and profit?
Over the past 3 years, MindForge Inc.'s revenue has declined 30.0% per year. These are computed facts, not advice.
How much debt does MF have?
As of FY2025, MindForge Inc. reported — of total debt against $11M of cash; operating income covered interest expense -92.8×.
What is MF's profit margin?
In FY2025, gross margin was 0.8%, operating margin -10.5%, and net margin -9.2%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.