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Side-by-side financial comparison of Mind Medicine (MindMed) Inc. (DFTX) and Innovative Eyewear Inc (LUCY). Click either name above to swap in a different company.
Innovative Eyewear Inc is the larger business by last-quarter revenue ($959.8K vs $906.0K, roughly 1.1× Mind Medicine (MindMed) Inc.). Innovative Eyewear Inc runs the higher net margin — -194.8% vs -2634.0%, a 2439.2% gap on every dollar of revenue. On growth, Innovative Eyewear Inc posted the faster year-over-year revenue change (39.0% vs -16.1%).
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.
General Eyewear is a London-based eyewear company and brand. The company was founded in the late 1990s by Fraser Laing. Originally under the name Arckiv, it produced its own original eyewear designs and had a particular specialism in vintage eyewear.
DFTX vs LUCY — Head-to-Head
Income Statement — Q4 FY2023 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $906.0K | $959.8K |
| Net Profit | $-23.9M | $-1.9M |
| Gross Margin | — | 12.0% |
| Operating Margin | -2450.8% | — |
| Net Margin | -2634.0% | -194.8% |
| Revenue YoY | -16.1% | 39.0% |
| Net Profit YoY | -386.7% | 12.0% |
| EPS (diluted) | $-0.58 | $-0.14 |
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.
| Q4 25 | — | $959.8K | ||
| Q3 25 | — | $668.1K | ||
| Q2 25 | — | $579.2K | ||
| Q1 25 | — | $454.5K | ||
| Q4 24 | — | $690.7K | ||
| Q3 24 | — | $253.6K | ||
| Q2 24 | — | $308.7K | ||
| Q1 24 | — | $383.5K |
| Q4 25 | — | $-1.9M | ||
| Q3 25 | — | $-1.8M | ||
| Q2 25 | — | $-2.1M | ||
| Q1 25 | — | $-1.8M | ||
| Q4 24 | — | $-2.1M | ||
| Q3 24 | — | $-1.7M | ||
| Q2 24 | — | $-1.9M | ||
| Q1 24 | — | $-2.0M |
| Q4 25 | — | 12.0% | ||
| Q3 25 | — | 36.6% | ||
| Q2 25 | — | -2.2% | ||
| Q1 25 | — | 48.5% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | — | 23.4% | ||
| Q2 24 | — | 17.9% | ||
| Q1 24 | — | 1.8% |
| Q4 25 | — | -194.8% | ||
| Q3 25 | — | -274.8% | ||
| Q2 25 | — | -363.6% | ||
| Q1 25 | — | -391.4% | ||
| Q4 24 | — | -307.8% | ||
| Q3 24 | — | -678.5% | ||
| Q2 24 | — | -631.2% | ||
| Q1 24 | — | -514.1% |
| Q4 25 | — | $-0.14 | ||
| Q3 25 | — | $-0.38 | ||
| Q2 25 | — | $-0.66 | ||
| Q1 25 | — | $-0.72 | ||
| Q4 24 | — | $0.26 | ||
| Q3 24 | — | $-0.99 | ||
| Q2 24 | — | $-1.87 | ||
| Q1 24 | — | $-2.59 |
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 | $6.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $78.1M | $9.1M |
| Total Assets | $124.5M | $10.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $6.5M | ||
| Q3 25 | — | $6.7M | ||
| Q2 25 | — | $7.6M | ||
| Q1 25 | — | $5.3M | ||
| Q4 24 | — | $2.6M | ||
| Q3 24 | — | $4.5M | ||
| Q2 24 | — | $5.9M | ||
| Q1 24 | — | $2.6M |
| Q4 25 | — | $9.1M | ||
| Q3 25 | — | $10.3M | ||
| Q2 25 | — | $11.3M | ||
| Q1 25 | — | $7.5M | ||
| Q4 24 | — | $9.1M | ||
| Q3 24 | — | $10.9M | ||
| Q2 24 | — | $7.3M | ||
| Q1 24 | — | $3.9M |
| Q4 25 | — | $10.1M | ||
| Q3 25 | — | $11.2M | ||
| Q2 25 | — | $11.9M | ||
| Q1 25 | — | $7.9M | ||
| Q4 24 | — | $9.8M | ||
| Q3 24 | — | $11.6M | ||
| Q2 24 | — | $7.9M | ||
| Q1 24 | — | $4.8M |
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 | $-1.4M |
| Free Cash FlowOCF − Capex | — | $-1.4M |
| FCF MarginFCF / Revenue | — | -142.5% |
| Capex IntensityCapex / Revenue | — | 1.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-1.4M | ||
| Q3 25 | — | $-1.5M | ||
| Q2 25 | — | $-2.1M | ||
| Q1 25 | — | $-2.3M | ||
| Q4 24 | — | $-1.9M | ||
| Q3 24 | — | $-1.4M | ||
| Q2 24 | — | $-1.9M | ||
| Q1 24 | — | $-1.5M |
| Q4 25 | — | $-1.4M | ||
| Q3 25 | — | $-1.5M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-2.4M | ||
| Q4 24 | — | $-2.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $-1.9M | ||
| Q1 24 | — | $-1.5M |
| Q4 25 | — | -142.5% | ||
| Q3 25 | — | -226.3% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -517.4% | ||
| Q4 24 | — | -285.2% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -626.1% | ||
| Q1 24 | — | -391.1% |
| Q4 25 | — | 1.8% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 8.9% | ||
| Q4 24 | — | 3.8% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 8.4% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
