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Side-by-side financial comparison of Mind Medicine (MindMed) Inc. (DFTX) and Pineapple Financial Inc. (PAPL). 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 $707.3K, roughly 1.3× Pineapple Financial Inc.). Mind Medicine (MindMed) Inc. runs the higher net margin — -2634.0% vs -2756.2%, a 122.2% gap on every dollar of revenue. On growth, Pineapple Financial Inc. posted the faster year-over-year revenue change (-4.8% 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.
DFTX vs PAPL — Head-to-Head
Income Statement — Q4 FY2023 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $906.0K | $707.3K |
| Net Profit | $-23.9M | $-19.5M |
| Gross Margin | — | 48.9% |
| Operating Margin | -2450.8% | -2518.8% |
| Net Margin | -2634.0% | -2756.2% |
| Revenue YoY | -16.1% | -4.8% |
| Net Profit YoY | -386.7% | -3174.1% |
| EPS (diluted) | $-0.58 | $-1.21 |
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.
| Q1 26 | — | $707.3K | ||
| Q4 25 | — | $721.7K | ||
| Q3 25 | — | $730.5K | ||
| Q2 25 | — | $746.9K | ||
| Q1 25 | — | $743.3K | ||
| Q4 24 | — | $766.1K | ||
| Q3 24 | — | $598.3K | ||
| Q2 24 | — | $736.4K |
| Q1 26 | — | $-19.5M | ||
| Q4 25 | — | $-6.4M | ||
| Q3 25 | — | $-1.8M | ||
| Q2 25 | — | $-557.7K | ||
| Q1 25 | — | $-595.4K | ||
| Q4 24 | — | $-656.9K | ||
| Q3 24 | — | $-1.7M | ||
| Q2 24 | — | $-848.6K |
| Q1 26 | — | 48.9% | ||
| Q4 25 | — | 49.6% | ||
| Q3 25 | — | 27.8% | ||
| Q2 25 | — | 67.6% | ||
| Q1 25 | — | 43.4% | ||
| Q4 24 | — | 45.9% | ||
| Q3 24 | — | 43.2% | ||
| Q2 24 | — | 44.2% |
| Q1 26 | — | -2518.8% | ||
| Q4 25 | — | -909.1% | ||
| Q3 25 | — | -131.3% | ||
| Q2 25 | — | -93.3% | ||
| Q1 25 | — | -80.6% | ||
| Q4 24 | — | -90.5% | ||
| Q3 24 | — | -232.8% | ||
| Q2 24 | — | -121.7% |
| Q1 26 | — | -2756.2% | ||
| Q4 25 | — | -891.6% | ||
| Q3 25 | — | -250.3% | ||
| Q2 25 | — | -74.7% | ||
| Q1 25 | — | -80.1% | ||
| Q4 24 | — | -85.7% | ||
| Q3 24 | — | -283.9% | ||
| Q2 24 | — | -115.2% |
| Q1 26 | — | $-1.21 | ||
| Q4 25 | — | $-4.79 | ||
| Q3 25 | — | $-0.93 | ||
| Q2 25 | — | $-0.05 | ||
| Q1 25 | — | $-1.73 | ||
| Q4 24 | — | $-2.60 | ||
| Q3 24 | — | $-11.10 | ||
| Q2 24 | — | $-0.12 |
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 | $27.1M |
| Total Assets | $124.5M | $48.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $27.1M | ||
| Q4 25 | — | $-5.5M | ||
| Q3 25 | — | $906.7K | ||
| Q2 25 | — | $842.6K | ||
| Q1 25 | — | $739.7K | ||
| Q4 24 | — | $1.3M | ||
| Q3 24 | — | $1.3M | ||
| Q2 24 | — | $2.0M |
| Q1 26 | — | $48.9M | ||
| Q4 25 | — | $10.6M | ||
| Q3 25 | — | $5.4M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | — | $4.0M | ||
| Q4 24 | — | $4.1M | ||
| Q3 24 | — | $4.1M | ||
| Q2 24 | — | $4.3M |
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 | $-3.3M |
| Free Cash FlowOCF − Capex | — | $-3.3M |
| FCF MarginFCF / Revenue | — | -462.7% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-3.3M | ||
| Q4 25 | — | $-489.7K | ||
| Q3 25 | — | $-507.6K | ||
| Q2 25 | — | $397.0K | ||
| Q1 25 | — | $-172.6K | ||
| Q4 24 | — | $-663.6K | ||
| Q3 24 | — | $-264.7K | ||
| Q2 24 | — | $123.0K |
| Q1 26 | — | $-3.3M | ||
| Q4 25 | — | $-491.7K | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-264.7K | ||
| Q2 24 | — | $122.7K |
| Q1 26 | — | -462.7% | ||
| Q4 25 | — | -68.1% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -44.2% | ||
| Q2 24 | — | 16.7% |
| Q1 26 | — | 0.0% | ||
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
