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MindWalk Holdings Valuation Multiples

Discover revenue and EBITDA valuation multiples for MindWalk Holdings and similar public comparables like Cohance Lifesciences, Dishman Carbogen Amics, and Syngene International.

MindWalk Holdings Overview

About MindWalk Holdings

ImmunoPrecise Antibodies Ltd is an AI-driven biotherapeutic research, technology and scientifically robust life science company focused on the discovery and development of next-generation biologics. The Company combines scientific expertise with proprietary technologies such as its LENSai platform to accelerate drug discovery and improve decision-making across complex biological systems. IPA has several subsidiaries in North America and Europe, supporting global partners in advancing novel therapeutics, diagnostics, and translational research.


Founded

1983

HQ

United States of America
Employees

102

Financials

LTM Revenue $13.6M

Last FY EBITDA -$28.9M

EV

$93.8M

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MindWalk Holdings Financials

MindWalk Holdings has a last 12-month revenue (LTM) of $13.6M and a last 12-month EBITDA of n/a.

In the most recent fiscal year, MindWalk Holdings achieved revenue of $24.5M and an EBITDA of -$28.9M.

MindWalk Holdings expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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MindWalk Holdings P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $13.6M XXX $24.5M XXX XXX XXX
Gross Profit $8.1M XXX $13.5M XXX XXX XXX
Gross Margin 60% XXX 55% XXX XXX XXX
EBITDA n/a XXX -$28.9M XXX XXX XXX
EBITDA Margin n/a XXX -118% XXX XXX XXX
EBIT -$8.8M XXX -$12.2M XXX XXX XXX
EBIT Margin -65% XXX -50% XXX XXX XXX
Net Profit -$11.5M XXX -$30.2M XXX XXX XXX
Net Margin -85% XXX -123% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

MindWalk Holdings Stock Performance

As of September 5, 2025, MindWalk Holdings's stock price is $2.

MindWalk Holdings has current market cap of $91.8M, and EV of $93.8M.

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MindWalk Holdings Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$93.8M $91.8M XXX XXX XXX XXX $-0.47

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MindWalk Holdings Valuation Multiples

As of September 5, 2025, MindWalk Holdings has market cap of $91.8M and EV of $93.8M.

MindWalk Holdings's trades at 3.8x EV/Revenue multiple, and -3.5x EV/EBITDA.

Equity research analysts estimate MindWalk Holdings's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

MindWalk Holdings has a P/E ratio of -5.7x.

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MindWalk Holdings Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $91.8M XXX $91.8M XXX XXX XXX
EV (current) $93.8M XXX $93.8M XXX XXX XXX
EV/Revenue 5.0x XXX 3.8x XXX XXX XXX
EV/EBITDA n/a XXX -3.5x XXX XXX XXX
EV/EBIT -7.7x XXX -7.4x XXX XXX XXX
EV/Gross Profit 8.3x XXX n/a XXX XXX XXX
P/E -5.7x XXX -3.1x XXX XXX XXX
EV/FCF n/a XXX -14.0x XXX XXX XXX

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MindWalk Holdings Margins & Growth Rates

MindWalk Holdings's last 12 month revenue growth is 23%

MindWalk Holdings's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.3M for the same period.

MindWalk Holdings's rule of 40 is -87% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

MindWalk Holdings's rule of X is unknown (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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MindWalk Holdings Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 23% XXX 2% XXX XXX XXX
EBITDA Margin n/a XXX -110% XXX XXX XXX
EBITDA Growth n/a XXX n/a XXX XXX XXX
Rule of 40 -87% XXX -87% XXX XXX XXX
Bessemer Rule of X XXX XXX n/a XXX XXX XXX
Revenue per Employee XXX XXX $0.2M XXX XXX XXX
Opex per Employee XXX XXX $0.3M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 18% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 20% XXX XXX XXX
Opex to Revenue XXX XXX 105% XXX XXX XXX

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MindWalk Holdings Public Comps

See public comps and valuation multiples for Contract Research & Manufacturing comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Jubilant Pharmova XXX XXX XXX XXX XXX XXX
Biocon XXX XXX XXX XXX XXX XXX
Syngene International XXX XXX XXX XXX XXX XXX
Dishman Carbogen Amics XXX XXX XXX XXX XXX XXX
Cohance Lifesciences XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

MindWalk Holdings M&A and Investment Activity

MindWalk Holdings acquired  XXX companies to date.

Last acquisition by MindWalk Holdings was  XXXXXXXX, XXXXX XXXXX XXXXXX . MindWalk Holdings acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by MindWalk Holdings

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About MindWalk Holdings

When was MindWalk Holdings founded? MindWalk Holdings was founded in 1983.
Where is MindWalk Holdings headquartered? MindWalk Holdings is headquartered in United States of America.
How many employees does MindWalk Holdings have? As of today, MindWalk Holdings has 102 employees.
Who is the CEO of MindWalk Holdings? MindWalk Holdings's CEO is Dr. Jennifer L. Bath.
Is MindWalk Holdings publicy listed? Yes, MindWalk Holdings is a public company listed on NAS.
What is the stock symbol of MindWalk Holdings? MindWalk Holdings trades under IPA ticker.
When did MindWalk Holdings go public? MindWalk Holdings went public in 2010.
Who are competitors of MindWalk Holdings? Similar companies to MindWalk Holdings include e.g. Jubilant Pharmova, Biocon, Syngene International, Dishman Carbogen Amics.
What is the current market cap of MindWalk Holdings? MindWalk Holdings's current market cap is $91.8M
What is the current revenue of MindWalk Holdings? MindWalk Holdings's last 12 months revenue is $13.6M.
What is the current revenue growth of MindWalk Holdings? MindWalk Holdings revenue growth (NTM/LTM) is 23%.
What is the current EV/Revenue multiple of MindWalk Holdings? Current revenue multiple of MindWalk Holdings is 5.0x.
Is MindWalk Holdings profitable? Yes, MindWalk Holdings is EBITDA-positive (as of the last 12 months).

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