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Mind Medicine (MindMed) (MNMD) Financials

Mind Medicine (MindMed) logo
$7.05 -0.04 (-0.56%)
Closing price 06/20/2025 04:00 PM Eastern
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$7.04 -0.01 (-0.14%)
As of 06/20/2025 07:49 PM Eastern
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Annual Income Statements for Mind Medicine (MindMed)

Annual Income Statements for Mind Medicine (MindMed)

This table shows Mind Medicine (MindMed)'s income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -57 -96 -109
Consolidated Net Income / (Loss)		 -57 -96 -109
Net Income / (Loss) Continuing Operations		 -57 -96 -109
Total Pre-Tax Income 		-57 -96 -109
Total Operating Income		 -66 -94 -104
Total Gross Profit		 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00
Total Operating Expenses		 66 94 104
Selling, General & Admin Expense		 30 42 39
Research & Development Expense		 36 52 65
Total Other Income / (Expense), net		 9.54 -1.87 -4.76
Interest Expense		 -1.50 0.92 -0.26
Interest & Investment Income		 - 5.58 12
Other Income / (Expense), net		 8.04 -6.53 -17
Basic Earnings per Share		 ($1.84) ($2.44) ($1.54)
Weighted Average Basic Shares Outstanding		 30.86M 39.16M 70.46M
Diluted Earnings per Share		 ($1.84) ($2.44) ($1.54)
Weighted Average Diluted Shares Outstanding		 30.86M 39.16M 70.46M
Weighted Average Basic & Diluted Shares Outstanding		 38.06M 41.33M 75.37M

Quarterly Income Statements for Mind Medicine (MindMed)

This table shows Mind Medicine (MindMed)'s income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 -16 -4.90 -25 -29 -18 -24 -54 -5.85 -14 -35
Consolidated Net Income / (Loss)		 -16 -4.90 -25 -29 -18 -24 -54 -5.85 -14 -35
Net Income / (Loss) Continuing Operations		 -16 -4.90 -25 -29 -18 -24 -54 -5.85 -14 -35
Total Pre-Tax Income 		-16 -22 -25 -29 -18 -24 -54 -5.85 -14 -35
Total Operating Income		 -17 -14 -21 -29 -22 -22 -22 -24 -25 -32
Total Operating Expenses		 17 14 21 29 22 22 22 24 25 32
Selling, General & Admin Expense		 9.21 5.07 8.26 14 8.41 11 10 9.81 7.60 11
Research & Development Expense		 7.77 8.83 13 15 13 12 12 15 17 22
Total Other Income / (Expense), net		 0.50 9.00 -3.95 0.05 3.69 -1.66 -32 19 11 -2.28
Interest Expense		 -0.36 -1.08 0.08 0.08 0.33 0.44 0.43 -2.08 0.73 0.66
Interest & Investment Income		 - - 1.36 1.39 1.49 1.35 1.66 3.12 3.51 3.28
Other Income / (Expense), net		 0.14 7.92 -5.24 -1.26 2.53 -2.57 -33 13 8.33 -4.90
Basic Earnings per Share		 ($0.56) ($0.16) ($0.65) ($0.76) ($0.45) ($0.61) ($1.14) ($0.08) ($0.18) ($0.14)
Weighted Average Basic Shares Outstanding		 29.30M 30.86M 38.08M 38.58M 39.72M 39.16M 47.86M 71.91M 77.91M 70.46M
Diluted Earnings per Share		 ($0.56) ($0.16) ($0.65) ($0.76) ($0.45) ($0.61) ($1.14) ($0.26) ($0.27) $0.13
Weighted Average Diluted Shares Outstanding		 29.30M 30.86M 38.08M 38.58M 39.72M 39.16M 47.86M 75.30M 80.24M 70.46M
Weighted Average Basic & Diluted Shares Outstanding		 37.57M 38.06M 38.60M 39.72M 40.09M 41.33M 71.87M 72.14M 73.33M 75.37M

Annual Cash Flow Statements for Mind Medicine (MindMed)

This table details how cash moves in and out of Mind Medicine (MindMed)'s business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 8.60 -42 174
Net Cash From Operating Activities		 -50 -64 -79
Net Cash From Continuing Operating Activities		 -50 -65 -79
Net Income / (Loss) Continuing Operations		 -57 -96 -109
Consolidated Net Income / (Loss)		 -57 -96 -109
Amortization Expense		 3.18 3.26 1.25
Non-Cash Adjustments To Reconcile Net Income		 7.26 22 32
Changes in Operating Assets and Liabilities, net		 -3.78 6.28 -3.34
Net Cash From Investing Activities		 0.00 0.00 0.00
Net Cash From Continuing Investing Activities		 0.00 0.00 0.00
Acquisitions		 0.00 0.00 0.00
Net Cash From Financing Activities		 59 22 253
Net Cash From Continuing Financing Activities		 59 22 253
Repayment of Debt		 0.00 -0.84 -0.13
Issuance of Debt		 0.00 15 10
Issuance of Common Equity		 60 7.53 -10
Other Financing Activities, net		 -0.99 0.16 253
Effect of Exchange Rate Changes		 -0.31 0.08 -0.03
Cash Interest Paid		 0.00 0.53 2.22

Quarterly Cash Flow Statements for Mind Medicine (MindMed)

This table details how cash moves in and out of Mind Medicine (MindMed)'s business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Net Change in Cash & Equivalents		 49 -12 -13 -13 0.80 -18 153 -9.20 52 -22
Net Cash From Operating Activities		 -9.30 -13 -13 -14 -17 -21 -17 -20 -17 -25
Net Cash From Continuing Operating Activities		 -9.30 -13 -13 -14 -17 -21 -17 -20 -17 -25
Net Income / (Loss) Continuing Operations		 -16 -4.90 -25 -29 -18 -24 -54 -5.85 -14 -35
Consolidated Net Income / (Loss)		 -16 -4.90 -25 -29 -18 -24 -54 -5.85 -14 -35
Amortization Expense		 0.79 0.79 0.79 0.79 0.79 0.89 0.53 - - 0.73
Non-Cash Adjustments To Reconcile Net Income		 5.80 -6.60 8.95 5.02 1.64 5.90 38 -11 -4.52 8.89
Changes in Operating Assets and Liabilities, net		 0.60 -2.13 1.74 9.47 -1.14 -3.80 -0.68 -3.45 1.01 -0.23
Net Cash From Financing Activities		 58 0.42 0.58 1.27 17 2.59 169 11 69 3.81
Net Cash From Continuing Financing Activities		 58 0.42 0.58 1.27 17 2.59 169 11 69 3.81
Other Financing Activities, net		 -1.10 -0.31 0.00 - 0.11 0.05 177 2.88 70 3.81
Effect of Exchange Rate Changes		 -0.14 0.06 0.02 0.06 0.03 -0.03 -0.02 0.00 -0.01 0.00
Cash Interest Paid		 - - 0.00 - 0.10 0.43 0.43 0.44 0.67 0.68

Annual Balance Sheets for Mind Medicine (MindMed)

This table presents Mind Medicine (MindMed)'s assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Total Assets		 170 125 302
Total Current Assets		 146 104 282
Cash & Equivalents		 142 100 274
Prepaid Expenses		 3.91 4.17 7.88
Plant, Property, & Equipment, net		 0.00 0.00 0.00
Total Noncurrent Assets		 24 21 21
Goodwill		 20 20 20
Intangible Assets		 3.69 0.53 0.00
Other Noncurrent Operating Assets		 0.33 0.22 0.61
Total Liabilities & Shareholders' Equity		 170 125 302
Total Liabilities		 19 46 61
Total Current Liabilities		 18 32 39
Accounts Payable		 2.11 4.14 2.01
Accrued Expenses		 5.88 12 13
Other Current Liabilities		 9.90 16 24
Total Noncurrent Liabilities		 1.18 14 22
Long-Term Debt		 0.00 14 22
Other Noncurrent Operating Liabilities		 1.18 0.03 0.00
Commitments & Contingencies		 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 151 78 241
Total Preferred & Common Equity		 151 78 241
Total Common Equity		 151 78 241
Common Stock		 345 368 640
Retained Earnings		 -194 -290 -399
Accumulated Other Comprehensive Income / (Loss)		 0.63 0.34 0.82

Quarterly Balance Sheets for Mind Medicine (MindMed)

This table presents Mind Medicine (MindMed)'s assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024
Total Assets		 181 156 142 142 276 268 320
Total Current Assets		 157 132 120 120 255 248 299
Cash & Equivalents		 155 129 117 118 252 243 295
Prepaid Expenses		 1.83 3.00 2.90 2.39 3.14 4.56 4.07
Other Current Assets		 0.17 - 0.00 - - 0.00 0.00
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 24 23 22 21 20 20 20
Goodwill		 20 20 20 20 20 20 20
Intangible Assets		 4.48 2.90 2.11 1.32 0.00 0.00 0.00
Other Noncurrent Operating Assets		 - 0.30 0.27 0.23 0.14 0.53 0.49
Total Liabilities & Shareholders' Equity		 181 156 142 142 276 268 320
Total Liabilities		 27 25 36 46 79 66 58
Total Current Liabilities		 26 24 35 31 65 42 33
Accounts Payable		 0.82 2.32 8.58 7.69 7.60 2.94 2.15
Accrued Expenses		 7.47 6.69 9.95 9.96 9.97 8.23 8.80
Other Current Liabilities		 18 15 17 14 48 31 22
Total Noncurrent Liabilities		 1.28 1.09 0.99 14 14 24 24
Long-Term Debt		 - - - 14 14 24 24
Other Noncurrent Operating Liabilities		 1.28 1.09 0.99 0.35 0.02 0.00 0.00
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 154 130 106 96 196 202 262
Total Preferred & Common Equity		 154 130 106 96 196 202 262
Total Common Equity		 154 130 106 96 196 202 262
Common Stock		 342 349 354 362 540 552 626
Retained Earnings		 -190 -219 -248 -266 -345 -350 -364
Accumulated Other Comprehensive Income / (Loss)		 0.74 0.64 0.36 0.78 0.84 0.83 0.82

Annual Metrics And Ratios for Mind Medicine (MindMed)

This table displays calculated financial ratios and metrics derived from Mind Medicine (MindMed)'s official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 0.00% 0.00% 0.00%
EBITDA Growth		 39.58% -76.25% -22.76%
EBIT Growth		 37.88% -72.23% -20.02%
NOPAT Growth		 29.33% -41.51% -10.71%
Net Income Growth		 38.95% -68.55% -13.52%
EPS Growth		 45.88% -32.61% 36.89%
Operating Cash Flow Growth		 -9.42% -28.37% -22.94%
Free Cash Flow Firm Growth		 57.89% -33.46% -40.92%
Invested Capital Growth		 -51.59% -184.80% -40.29%
Revenue Q/Q Growth		 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 17.72% -23.82% -11.88%
EBIT Q/Q Growth		 16.91% -23.02% -11.67%
NOPAT Q/Q Growth		 5.23% -9.71% -10.95%
Net Income Q/Q Growth		 17.35% -24.70% -11.12%
EPS Q/Q Growth		 21.70% -26.42% -22.22%
Operating Cash Flow Q/Q Growth		 -11.12% -13.62% -6.44%
Free Cash Flow Firm Q/Q Growth		 0.00% 6.92% -8.24%
Invested Capital Q/Q Growth		 1,047.62% 2.76% -18.90%
Profitability Metrics		 - - -
Gross Margin		 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00%
Interest Burden Percent		 97.44% 95.35% 90.19%
Effective Tax Rate		 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -37.54% -83.59% -68.01%
Cash Return on Invested Capital (CROIC)		 -275.70% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -37.54% -83.59% -68.01%
Return on Equity Simple (ROE_SIMPLE)		 -37.63% -122.52% -45.01%
Net Operating Profit after Tax (NOPAT)		 -46 -66 -73
NOPAT Margin		 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -7.52% -26.37% -21.30%
Return On Investment Capital (ROIC_SIMPLE)		 - -71.22% -27.63%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -58 -100 -120
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -55 -97 -119
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 0.55 1.88 2.11
Price to Tangible Book Value (P/TBV)		 0.65 2.54 2.30
Price to Revenue (P/Rev)		 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00
Leverage & Solvency		 - - -
Debt to Equity		 0.00 0.18 0.09
Long-Term Debt to Equity		 0.00 0.18 0.09
Financial Leverage		 -0.91 -0.99 -1.06
Leverage Ratio		 1.10 1.29 1.34
Compound Leverage Factor		 1.08 1.23 1.20
Debt to Total Capital		 0.00% 15.31% 8.30%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 15.31% 8.30%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 84.69% 91.70%
Debt to EBITDA		 0.00 -0.15 -0.18
Net Debt to EBITDA		 0.00 0.88 2.11
Long-Term Debt to EBITDA		 0.00 -0.15 -0.18
Debt to NOPAT		 0.00 -0.22 -0.30
Net Debt to NOPAT		 0.00 1.30 3.46
Long-Term Debt to NOPAT		 0.00 -0.22 -0.30
Altman Z-Score		 0.77 -3.34 2.84
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00%
Liquidity Ratios		 - - -
Current Ratio		 8.16 3.22 7.25
Quick Ratio		 7.94 3.09 7.05
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 -37 -49 -70
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 -53.79 0.00
Operating Cash Flow to Interest Expense		 0.00 -69.96 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -69.96 0.00
Efficiency Ratios		 - - -
Asset Turnover		 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00
Capital & Investment Metrics		 - - -
Invested Capital		 8.78 -7.44 -10
Invested Capital Turnover		 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 -9.35 -16 -3.00
Enterprise Value (EV)		 -59 61 259
Market Capitalization		 83 147 510
Book Value per Share		 $4.02 $1.95 $3.29
Tangible Book Value per Share		 $3.39 $1.44 $3.02
Total Capital		 151 92 263
Total Debt		 0.00 14 22
Total Long-Term Debt		 0.00 14 22
Net Debt		 -142 -86 -252
Capital Expenditures (CapEx)		 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -14 -28 -31
Debt-free Net Working Capital (DFNWC)		 128 72 243
Net Working Capital (NWC)		 128 72 243
Net Nonoperating Expense (NNE)		 10 30 36
Net Nonoperating Obligations (NNO)		 -142 -86 -252
Total Depreciation and Amortization (D&A)		 3.18 3.26 1.25
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00%
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 ($1.84) ($2.44) ($1.54)
Adjusted Weighted Average Basic Shares Outstanding		 30.86M 39.16M 70.46M
Adjusted Diluted Earnings per Share		 ($1.84) ($2.44) ($1.54)
Adjusted Weighted Average Diluted Shares Outstanding		 30.86M 39.16M 70.46M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 38.06M 41.33M 75.37M
Normalized Net Operating Profit after Tax (NOPAT)		 -46 -66 -73
Normalized NOPAT Margin		 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 0.00 -109.13 0.00
NOPAT to Interest Expense		 0.00 -71.42 0.00
EBIT Less CapEx to Interest Expense		 0.00 -109.13 0.00
NOPAT Less CapEx to Interest Expense		 0.00 -71.42 0.00
Payout Ratios		 - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Mind Medicine (MindMed)

This table displays calculated financial ratios and metrics derived from Mind Medicine (MindMed)'s official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 1.76% 69.56% -43.44% -82.82% -13.95% -359.83% -117.70% 62.75% 10.01% -53.44%
EBIT Growth		 1.68% 66.48% -41.66% -78.65% -13.30% -314.01% -113.12% 63.72% 13.74% -50.84%
NOPAT Growth		 1.42% 20.84% -12.74% -72.25% -27.28% -59.74% -6.43% 16.19% -14.69% -46.20%
Net Income Growth		 4.13% 70.87% -34.49% -71.79% -8.72% -386.72% -119.22% 79.90% 23.65% -45.58%
EPS Growth		 8.20% 73.77% 1.52% -26.67% 19.64% -281.25% -75.38% 65.79% 40.00% 121.31%
Operating Cash Flow Growth		 44.60% -64.04% -3.61% 8.47% -78.83% -60.04% -24.51% -44.38% -3.40% -23.28%
Free Cash Flow Firm Growth		 0.00% 0.00% 102.71% 130.23% 23.32% 277.16% 3,357.74% -221.09% -93.05% -3,030.10%
Invested Capital Growth		 0.00% -51.59% -94.28% -158.22% -726.35% -184.80% -4,600.86% -54.12% -14.74% -40.29%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 1.01% 67.65% -387.35% -17.16% 38.30% -30.52% -129.75% 79.95% -49.06% -122.54%
EBIT Q/Q Growth		 1.14% 64.48% -336.22% -16.64% 37.30% -29.78% -124.55% 80.14% -49.06% -126.94%
NOPAT Q/Q Growth		 -0.24% 18.15% -50.09% -39.89% 25.93% -2.72% 0.00% -10.15% -1.37% -30.94%
Net Income Q/Q Growth		 2.78% 70.26% -406.12% -17.39% 38.47% -33.15% -127.96% 89.24% -133.75% -153.88%
EPS Q/Q Growth		 6.67% 71.43% -306.25% -16.92% 40.79% -35.56% -86.89% 77.19% -3.85% 148.15%
Operating Cash Flow Q/Q Growth		 38.54% -38.21% -3.75% -3.86% -20.09% -23.68% 19.28% -20.43% 14.00% -47.47%
Free Cash Flow Firm Q/Q Growth		 64.20% 96.53% 309.11% 1,065.01% -190.80% 108.01% 3,981.28% -140.80% -44.75% -21.56%
Invested Capital Q/Q Growth		 -104.94% 1,047.62% -89.34% -1,268.24% 29.95% 2.76% -465.56% 60.00% 47.84% -18.90%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 22.43% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 97.86% 365.37% 95.08% 95.69% 93.91% 96.34% 97.80% 53.00% 83.11% 92.98%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -44.74% -37.54% -47.28% -65.37% -61.52% -83.59% -76.79% -66.26% -54.61% -68.01%
Cash Return on Invested Capital (CROIC)		 0.00% -275.70% -378.55% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -44.74% -37.54% -47.28% -65.37% -61.52% -83.59% -76.79% -66.26% -54.61% -68.01%
Return on Equity Simple (ROE_SIMPLE)		 -44.74% 0.00% -48.46% -71.09% -79.99% 0.00% -63.92% -50.50% -37.30% 0.00%
Net Operating Profit after Tax (NOPAT)		 -12 -9.73 -15 -20 -15 -16 -16 -17 -17 -23
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -5.95% 3.50% -8.17% -7.82% -2.16% -7.31% -21.14% 6.71% 1.96% -7.12%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - -16.85% - - - -8.63%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -17 -5.98 -26 -30 -19 -25 -56 -11 -16 -37
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -16 -5.19 -25 -30 -18 -24 -55 -11 -16 -37
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.65 0.55 0.93 1.30 1.30 1.88 1.92 2.56 1.57 2.11
Price to Tangible Book Value (P/TBV)		 0.77 0.65 1.12 1.64 1.66 2.54 2.14 2.85 1.69 2.30
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.15 0.18 0.07 0.12 0.09 0.09
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.15 0.18 0.07 0.12 0.09 0.09
Financial Leverage		 -1.01 -0.91 -0.94 -0.97 -1.03 -0.99 -1.13 -1.09 -1.05 -1.06
Leverage Ratio		 1.18 1.10 1.14 1.20 1.29 1.29 1.32 1.33 1.29 1.34
Compound Leverage Factor		 1.15 4.03 1.08 1.15 1.21 1.24 1.29 0.71 1.07 1.24
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 12.78% 15.31% 6.75% 10.72% 8.49% 8.30%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 12.78% 15.31% 6.75% 10.72% 8.49% 8.30%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 87.22% 84.69% 93.25% 89.28% 91.51% 91.70%
Debt to EBITDA		 0.00 0.00 0.00 0.00 -0.18 -0.15 -0.11 -0.22 -0.23 -0.18
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 1.32 0.88 1.87 2.02 2.54 2.11
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 -0.18 -0.15 -0.11 -0.22 -0.23 -0.18
Debt to NOPAT		 0.00 0.00 0.00 0.00 -0.23 -0.22 -0.21 -0.38 -0.37 -0.30
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 1.73 1.30 3.57 3.46 4.13 3.46
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 -0.23 -0.22 -0.21 -0.38 -0.37 -0.30
Altman Z-Score		 1.28 1.79 1.18 -0.15 -0.69 -1.33 1.26 3.66 3.51 3.75
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 6.01 8.16 5.50 3.41 3.85 3.22 3.91 5.92 9.00 7.25
Quick Ratio		 5.93 7.94 5.37 3.33 3.78 3.09 3.87 5.81 8.88 7.05
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -11 -0.38 0.79 9.26 -8.41 0.67 27 -11 -16 -20
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 10.46 120.22 -25.63 1.53 63.31 0.00 -22.32 -30.07
Operating Cash Flow to Interest Expense		 0.00 0.00 -175.41 -179.81 -50.69 -46.84 -38.24 0.00 -23.65 -38.64
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 -175.41 -179.81 -50.69 -46.84 -38.24 0.00 -23.65 -38.64
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 -0.93 8.78 0.94 -11 -7.65 -7.44 -42 -17 -8.78 -10
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 -0.93 -9.35 -15 -30 -6.73 -16 -43 -5.91 -1.13 -3.00
Enterprise Value (EV)		 -55 -59 -8.75 21 21 61 139 299 140 259
Market Capitalization		 100 83 121 138 124 147 377 518 411 510
Book Value per Share		 $0.36 $4.02 $3.42 $2.75 $2.42 $1.95 $4.10 $2.81 $3.63 $3.29
Tangible Book Value per Share		 $0.30 $3.39 $2.83 $2.18 $1.88 $1.44 $3.68 $2.53 $3.36 $3.02
Total Capital		 154 151 130 106 110 92 210 226 287 263
Total Debt		 0.00 0.00 0.00 0.00 14 14 14 24 24 22
Total Long-Term Debt		 0.00 0.00 0.00 0.00 14 14 14 24 24 22
Net Debt		 -155 -142 -129 -117 -104 -86 -238 -219 -271 -252
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -24 -14 -21 -32 -29 -28 -62 -37 -29 -31
Debt-free Net Working Capital (DFNWC)		 130 128 108 85 89 72 190 206 266 243
Net Working Capital (NWC)		 130 128 108 85 89 72 190 206 266 243
Net Nonoperating Expense (NNE)		 4.60 -4.83 10 8.70 2.79 8.32 39 -11 -3.67 12
Net Nonoperating Obligations (NNO)		 -155 -142 -129 -117 -104 -86 -238 -219 -271 -252
Total Depreciation and Amortization (D&A)		 0.79 0.79 0.79 0.79 0.79 0.89 0.53 0.00 0.00 0.73
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.56) ($0.16) ($0.65) ($0.76) ($0.45) ($0.61) ($1.14) ($0.08) ($0.18) ($0.14)
Adjusted Weighted Average Basic Shares Outstanding		 29.30M 30.86M 38.08M 38.58M 39.72M 39.16M 47.86M 71.91M 77.91M 70.46M
Adjusted Diluted Earnings per Share		 ($0.56) ($0.16) ($0.65) ($0.76) ($0.45) ($0.61) ($1.14) ($0.26) ($0.27) $0.13
Adjusted Weighted Average Diluted Shares Outstanding		 29.30M 30.86M 38.08M 38.58M 39.72M 39.16M 47.86M 75.30M 80.24M 70.46M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($0.16) $0.00 $0.00 $0.00 ($0.61) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 37.57M 38.06M 38.60M 39.72M 40.09M 41.33M 71.87M 72.14M 73.33M 75.37M
Normalized Net Operating Profit after Tax (NOPAT)		 -12 -9.73 -15 -20 -15 -16 -16 -17 -17 -23
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 -343.41 -395.34 -58.19 -56.42 -128.16 0.00 -22.65 -56.96
NOPAT to Interest Expense		 0.00 0.00 -192.15 -265.31 -46.13 -35.41 -35.81 0.00 -23.87 -34.64
EBIT Less CapEx to Interest Expense		 0.00 0.00 -343.41 -395.34 -58.19 -56.42 -128.16 0.00 -22.65 -56.96
NOPAT Less CapEx to Interest Expense		 0.00 0.00 -192.15 -265.31 -46.13 -35.41 -35.81 0.00 -23.87 -34.64
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Key Financial Trends

Mind Medicine (MindMed) reported a challenging Q4 2024 with operating expenses rising significantly, driven by continued investment in research and development. The company generated a net loss of $34.7 million and negative operating cash flow of $25.4 million, yet maintains a very strong liquidity position and low leverage.

  • Strong balance sheet with $273 million in cash & equivalents as of Q4 2024 and a current ratio of 7.25
  • Minimal debt on the books: long-term debt of $21.9 million and net debt of –$251.9 million
  • Altman Z-Score of 3.75 indicates low risk of financial distress
  • Research & development expense rose to $21.8 million in Q4 vs. $17.2 million in Q3, reflecting ongoing pipeline investment
  • SG&A expense increased to $10.7 million in Q4 from $7.6 million in Q3, indicating higher operating overhead
  • Net loss widened to $34.7 million in Q4 2024 from $13.7 million in Q3
  • Operating cash flow burned $25.4 million in Q4, continuing a high burn rate
  • Free cash flow to firm was –$19.7 million, down 30% year-over-year
  • Diluted EPS remained negative at –$0.14, though slightly improved from –$0.18 in Q3
  • Total operating expenses jumped to $32.5 million in Q4 2024, up 31% sequentially
06/22/25 01:12 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Mind Medicine (MindMed)'s Financials

When does Mind Medicine (MindMed)'s financial year end?

According to the most recent income statement we have on file, Mind Medicine (MindMed)'s fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Mind Medicine (MindMed)'s net income changed over the last 2 years?

Mind Medicine (MindMed)'s net income appears to be on an upward trend, with a most recent value of -$108.68 million in 2024, rising from -$56.80 million in 2022. The previous period was -$95.73 million in 2023. Check out Mind Medicine (MindMed)'s forecast to explore projected trends and price targets.

What is Mind Medicine (MindMed)'s operating income?
Mind Medicine (MindMed)'s total operating income in 2024 was -$103.92 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $103.92 million
How has Mind Medicine (MindMed)'s revenue changed over the last 2 years?

Over the last 2 years, Mind Medicine (MindMed)'s total revenue changed from $0.00 in 2022 to $0.00 in 2024, a change of 0.0%.

How much debt does Mind Medicine (MindMed) have?

Mind Medicine (MindMed)'s total liabilities were at $60.70 million at the end of 2024, a 30.8% increase from 2023, and a 218.2% increase since 2022.

How much cash does Mind Medicine (MindMed) have?

In the past 2 years, Mind Medicine (MindMed)'s cash and equivalents has ranged from $99.70 million in 2023 to $273.74 million in 2024, and is currently $273.74 million as of their latest financial filing in 2024.

How has Mind Medicine (MindMed)'s book value per share changed over the last 2 years?

Over the last 2 years, Mind Medicine (MindMed)'s book value per share changed from 4.02 in 2022 to 3.29 in 2024, a change of -18.0%.


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This page (NASDAQ:MNMD) was last updated on 6/22/2025 by MarketBeat.com Staff
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