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Side-by-side financial comparison of Atai Beckley N.V. (ATAI) and Mind Medicine (MindMed) Inc. (DFTX). Click either name above to swap in a different company.
Mind Medicine (MindMed) Inc. is the larger business by last-quarter revenue ($906.0K vs $749.0K, roughly 1.2× Atai Beckley N.V.). Mind Medicine (MindMed) Inc. runs the higher net margin — -2634.0% vs -8154.1%, a 5520.1% gap on every dollar of revenue. On growth, Atai Beckley N.V. posted the faster year-over-year revenue change (1772.5% vs -16.1%).
atai Life Sciences is a pharmaceutical company that is developing psychedelics, other hallucinogens, entactogens, and related drugs for treatment of psychiatric conditions. It was founded in 2018 and is headquartered in Berlin, Germany.
Definium Therapeutics, Inc., formerly known as MindMed, is a New York-based biotechnology company that is currently developing clinical and therapeutic applications for psychedelic and, more broadly, psychoplastogenic drugs.
ATAI vs DFTX — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2023
| Metric | | |
|---|---|---|
| Revenue | $749.0K | $906.0K |
| Net Profit | $-61.1M | $-23.9M |
| Gross Margin | — | — |
| Operating Margin | -3796.5% | -2450.8% |
| Net Margin | -8154.1% | -2634.0% |
| Revenue YoY | 1772.5% | -16.1% |
| Net Profit YoY | -132.3% | -386.7% |
| EPS (diluted) | $-0.28 | $-0.58 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q3 25 | $749.0K | — | ||
| Q2 25 | $719.0K | — | ||
| Q1 25 | $1.6M | — | ||
| Q4 24 | $-5.0K | — | ||
| Q3 24 | $40.0K | — | ||
| Q2 24 | $273.0K | — | ||
| Q1 24 | $0 | — | ||
| Q4 23 | $18.0K | $906.0K |
| Q3 25 | $-61.1M | — | ||
| Q2 25 | $-27.7M | — | ||
| Q1 25 | $-26.4M | — | ||
| Q4 24 | $-39.0M | — | ||
| Q3 24 | $-26.3M | — | ||
| Q2 24 | $-57.3M | — | ||
| Q1 24 | $-26.7M | — | ||
| Q4 23 | — | $-23.9M |
| Q3 25 | -3796.5% | — | ||
| Q2 25 | -3515.0% | — | ||
| Q1 25 | -1310.0% | — | ||
| Q4 24 | 605500.0% | — | ||
| Q3 24 | -56505.0% | — | ||
| Q2 24 | -9424.5% | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | -2450.8% |
| Q3 25 | -8154.1% | — | ||
| Q2 25 | -3856.6% | — | ||
| Q1 25 | -1699.7% | — | ||
| Q4 24 | 779160.0% | — | ||
| Q3 24 | -65715.0% | — | ||
| Q2 24 | -20993.4% | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | -2634.0% |
| Q3 25 | $-0.28 | — | ||
| Q2 25 | $-0.14 | — | ||
| Q1 25 | $-0.15 | — | ||
| Q4 24 | $-0.24 | — | ||
| Q3 24 | $-0.16 | — | ||
| Q2 24 | $-0.36 | — | ||
| Q1 24 | $-0.17 | — | ||
| Q4 23 | — | $-0.58 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $30.4M | $99.7M |
| Total DebtLower is stronger | $0 | — |
| Stockholders' EquityBook value | $159.8M | $78.1M |
| Total Assets | $239.8M | $124.5M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $30.4M | — | ||
| Q2 25 | $61.9M | — | ||
| Q1 25 | $48.3M | — | ||
| Q4 24 | $17.5M | — | ||
| Q3 24 | $30.0M | — | ||
| Q2 24 | $19.3M | — | ||
| Q1 24 | $18.9M | — | ||
| Q4 23 | $45.0M | $99.7M |
| Q3 25 | $0 | — | ||
| Q2 25 | $0 | — | ||
| Q1 25 | $9.3M | — | ||
| Q4 24 | $14.1M | — | ||
| Q3 24 | $20.3M | — | ||
| Q2 24 | $15.2M | — | ||
| Q1 24 | $15.1M | — | ||
| Q4 23 | $15.0M | — |
| Q3 25 | $159.8M | — | ||
| Q2 25 | $143.7M | — | ||
| Q1 25 | $152.1M | — | ||
| Q4 24 | $116.3M | — | ||
| Q3 24 | $145.7M | — | ||
| Q2 24 | $167.9M | — | ||
| Q1 24 | $222.5M | — | ||
| Q4 23 | $243.0M | $78.1M |
| Q3 25 | $239.8M | — | ||
| Q2 25 | $189.2M | — | ||
| Q1 25 | $195.8M | — | ||
| Q4 24 | $159.4M | — | ||
| Q3 24 | $197.5M | — | ||
| Q2 24 | $215.8M | — | ||
| Q1 24 | $269.1M | — | ||
| Q4 23 | $293.5M | $124.5M |
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.06× | — | ||
| Q4 24 | 0.12× | — | ||
| Q3 24 | 0.14× | — | ||
| Q2 24 | 0.09× | — | ||
| Q1 24 | 0.07× | — | ||
| Q4 23 | 0.06× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-23.3M | $-20.6M |
| Free Cash FlowOCF − Capex | $-23.7M | — |
| FCF MarginFCF / Revenue | -3158.5% | — |
| Capex IntensityCapex / Revenue | 52.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-80.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-23.3M | — | ||
| Q2 25 | $-14.1M | — | ||
| Q1 25 | $-17.8M | — | ||
| Q4 24 | $-24.3M | — | ||
| Q3 24 | $-19.3M | — | ||
| Q2 24 | $-16.2M | — | ||
| Q1 24 | $-22.6M | — | ||
| Q4 23 | $-84.1M | $-20.6M |
| Q3 25 | $-23.7M | — | ||
| Q2 25 | $-14.2M | — | ||
| Q1 25 | $-18.1M | — | ||
| Q4 24 | $-24.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | $-84.4M | — |
| Q3 25 | -3158.5% | — | ||
| Q2 25 | -1977.9% | — | ||
| Q1 25 | -1164.6% | — | ||
| Q4 24 | 486020.0% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | -468761.1% | — |
| Q3 25 | 52.9% | — | ||
| Q2 25 | 17.7% | — | ||
| Q1 25 | 17.2% | — | ||
| Q4 24 | -120.0% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | — | — | ||
| Q4 23 | 1438.9% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
