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MF · Nasdaq · United States · Services-Computer Programming, Data Processing, Etc.
In shortMindForge Inc. is loss-making, burns cash and holds more cash than debt, with revenue shrinking (−42.5% last year).
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -10.5% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -9.2% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -16.5% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | -14.7% | 0/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 10.24× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.02× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -92.81× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 12.85 | 100/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -9.5% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 1 of 4 | 6/100 |
Weight in the score: 20%
| Profitable years (last 5) | 1 of 4 | 25/100 |
|---|---|---|
| Years of revenue decline (last 5) | 2 of 3 | 0/100 |
| Revenue growth volatility | 30.5% | 0/100 |
| Operating margin volatility | 5.1% | 63/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | -30.0% | 0/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
The last 4 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | 87 | 94 | 52 | 30 |
| Cost of revenue | 85 | 93 | 51 | 29 |
| Gross profit | 1.5 | 1.6 | 0.7 | 0.3 |
| Operating income | 0.1 | 0.2 | (0.9) | (3.1) |
| Interest expense | – | 0 | 0 | 0 |
| Pre-tax income | 0.2 | 0.2 | (0.6) | (3) |
| Income tax | 0.3 | 0 | 0.1 | (0.2) |
| Net income | (0) | 0.2 | (0.7) | (2.7) |
| Diluted EPS | $0.00 | $0.16 | −$0.48 | −$0.37 |
| Diluted shares (millions) | 23 | 1.5 | 1.6 | 7.3 |
12.85 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
2/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2025 · Data updated Apr 3, 2026