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Side-by-side financial comparison of Mind Medicine (MindMed) Inc. (DFTX) and IM Cannabis Corp. (IMCC). 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 $10.1K, roughly 89.4× IM Cannabis Corp.). IM Cannabis Corp. runs the higher net margin — -7.8% vs -2634.0%, a 2626.2% gap on every dollar of revenue.
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.
IM Cannabis Corp is a global cannabis enterprise focused on the cultivation, production, distribution and retail of medical and adult-use cannabis products. It runs business across core markets including North America, the European Union and Israel, offering branded cannabis goods, wellness derivatives and related consumer products to medical patients and recreational users.
DFTX vs IMCC — Head-to-Head
Income Statement — Q4 2023 vs Q3 2025
| Metric | | |
|---|---|---|
| Revenue | $906.0K | $10.1K |
| Net Profit | $-23.9M | $-790 |
| Gross Margin | — | 22.7% |
| Operating Margin | -2450.8% | -6.9% |
| Net Margin | -2634.0% | -7.8% |
| Revenue YoY | -16.1% | — |
| Net Profit YoY | -386.7% | — |
| EPS (diluted) | $-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 | — | $10.1K | ||
| Q2 25 | — | $8.8K | ||
| Q4 24 | — | $11.8K | ||
| Q3 24 | — | $9.0K | ||
| Q2 24 | — | $10.8M | ||
| Q1 24 | — | $9.1K | ||
| Q4 23 | $906.0K | — | ||
| Q3 23 | $1.2M | — |
| Q3 25 | — | $-790 | ||
| Q2 25 | — | $-4.4K | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-1.6K | ||
| Q2 24 | — | $-2.5M | ||
| Q1 24 | — | — | ||
| Q4 23 | $-23.9M | — | ||
| Q3 23 | $-17.9M | — |
| Q3 25 | — | 22.7% | ||
| Q2 25 | — | 14.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 21.4% | ||
| Q2 24 | — | 5.7% | ||
| Q1 24 | — | 23.2% | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
| Q3 25 | — | -6.9% | ||
| Q2 25 | — | -46.7% | ||
| Q4 24 | — | -236.7% | ||
| Q3 24 | — | 18.3% | ||
| Q2 24 | — | -19.5% | ||
| Q1 24 | — | 28.9% | ||
| Q4 23 | -2450.8% | — | ||
| Q3 23 | -1858.6% | — |
| Q3 25 | — | -7.8% | ||
| Q2 25 | — | -49.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -17.3% | ||
| Q2 24 | — | -23.4% | ||
| Q1 24 | — | — | ||
| Q4 23 | -2634.0% | — | ||
| Q3 23 | -1541.1% | — |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | $-0.58 | — | ||
| Q3 23 | $-0.45 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $99.7M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $78.1M | — |
| Total Assets | $124.5M | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | $630.0K | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $511.0K | ||
| Q1 24 | — | — | ||
| Q4 23 | $99.7M | — | ||
| Q3 23 | $117.7M | — |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | $2.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $4.0M | ||
| Q1 24 | — | — | ||
| Q4 23 | $78.1M | — | ||
| Q3 23 | $96.0M | — |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q4 24 | — | $28.6M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $29.4M | ||
| Q1 24 | — | — | ||
| Q4 23 | $124.5M | — | ||
| Q3 23 | $141.6M | — |
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 | $-20.6M | $2.3K |
| Free Cash FlowOCF − Capex | — | $2.2K |
| FCF MarginFCF / Revenue | — | 21.6% |
| Capex IntensityCapex / Revenue | — | 0.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $2.3K | ||
| Q2 25 | — | — | ||
| Q4 24 | — | $-786.2K | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-4.4K | ||
| Q4 23 | $-20.6M | — | ||
| Q3 23 | $-16.6M | — |
| Q3 25 | — | $2.2K | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-4.7K | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
| Q3 25 | — | 21.6% | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -51.7% | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 3.3% | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
