MindForge Inc. (MF) Income Statement
MF FY2025 at a glance
Fiscal year ended June 30, 2025 · U.S. dollarsMF revenue and net income
Where MF's revenue goes
FY2025Each bar shows an amount and its share of revenue. MF kept −9.2% of revenue as net income.
MF profit margins
MF growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −42.5% | −30.0% | −13.6% | — |
| Gross profit | −63.8% | −44.5% | +0.8% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MF income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Revenue | $29.7M | $51.6M | $94.3M | $86.7M | $72.4M | $61.6M |
| Cost of revenue | $29.4M | $50.9M | $92.7M | $85.2M | $71.3M | $61.3M |
| Gross profit | $251,687 | $694,322 | $1.6M | $1.5M | $1.0M | $241,495 |
| Sales, general & admin | — | $1.6M | $1.5M | $1.3M | $1.1M | $516,092 |
| Total operating expenses | $3.4M | $1.6M | $1.5M | $1.3M | $1.1M | $516,092 |
| Operating income | −$3.1M | −$872,895 | $153,900 | $126,650 | −$90,670 | −$274,600 |
| Interest income | — | $259,056 | $2,644 | $3,479 | — | — |
| Interest expense | $33,464 | $12,869 | $1,269 | $0 | $3,474 | $9,729 |
| Income before taxes | −$3.0M | −$606,102 | $243,986 | $223,510 | $226,791 | −$190,901 |
| Income taxes | −$236,013 | $142,440 | $38,075 | $272,532 | $236,353 | $55,899 |
| Net income | −$2.7M | −$748,542 | $205,911 | −$49,022 | −$9,562 | −$246,800 |
| EBITDA | −$2.9M | −$581,579 | $247,256 | $225,305 | $231,422 | −$180,721 |
| EPS (diluted) | −$2.24 | −$9.65 | $3.38 | −$0.82 | −$0.25 | −$6.58 |
| Gross margin | 0.8% | 1.3% | 1.7% | 1.7% | 1.4% | 0.4% |
| Operating margin | −10.5% | −1.7% | 0.2% | 0.1% | −0.1% | −0.4% |
| Net margin | −9.2% | −1.5% | 0.2% | −0.1% | −0.0% | −0.4% |
| Mar '26 | Sep '25 | Dec '24 | Jun '24 | Dec '23 | Jun '23 | Dec '22 | Jun '22 | Dec '21 | Jun '21 | Dec '20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.7M | $12.4M | $17.3M | $22.3M | $29.3M | $37.8M | $56.5M | $33.9M | $52.8M | $16.9M | $55.5M |
| Cost of revenue | $11.6M | $12.3M | $17.1M | $22.2M | $28.7M | $37.2M | $55.5M | $33.1M | $52.1M | $16.3M | $55.1M |
| Gross profit | $29,962 | $43,497 | $208,190 | $115,462 | $578,860 | $596,359 | $1.0M | $745,456 | $725,720 | $641,794 | $388,936 |
| Sales, general & admin | — | — | $578,914 | $760,103 | $807,114 | $811,563 | $649,078 | — | — | $779,134 | — |
| Total operating expenses | $10.2M | $2.8M | $578,914 | $760,103 | $778,240 | $811,563 | $649,080 | $297,773 | $1.0M | $779,134 | $342,262 |
| Operating income | −$10.2M | −$2.7M | −$370,724 | −$644,641 | −$228,254 | −$215,200 | $369,106 | $447,680 | −$321,040 | −$137,340 | $46,670 |
| Interest expense | $382 | $9,205 | $24,259 | $7,282 | — | $1,269 | — | — | — | — | $3,400 |
| Income before taxes | −$10.2M | −$3.3M | $346,431 | −$403,777 | −$202,326 | −$311,874 | $421,188 | $470,054 | −$246,544 | $76,122 | $150,670 |
| Income taxes | −$49,792 | −$236,583 | $570 | $127,931 | $14,508 | −$203,457 | $241,532 | $175,910 | $96,622 | $124,974 | $111,380 |
| Net income | −$10.2M | −$3.1M | $345,861 | −$531,709 | −$216,834 | $26,254 | $179,656 | $294,144 | −$343,166 | −$48,852 | $39,290 |
| EBITDA | −$10.1M | −$3.3M | $379,351 | −$386,106 | −$226,994 | −$195,473 | $370,102 | $422,182 | $224,333 | −$136,690 | −$68,345 |
| Gross margin | 0.3% | 0.4% | 1.2% | 0.5% | 2.0% | 1.6% | 1.8% | 2.2% | 1.4% | 3.8% | 0.7% |
| Operating margin | −87.6% | −22.1% | −2.1% | −2.9% | −0.8% | −0.6% | 0.7% | 1.3% | −0.6% | −0.8% | 0.1% |
| Net margin | −87.3% | −24.7% | 2.0% | −2.4% | −0.7% | 0.1% | 0.3% | 0.9% | −0.6% | −0.3% | 0.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MF's financial statements (latest annual report filed October 24, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MF financial results
In fiscal year 2025 (ended June 30, 2025), MindForge reported revenue of $29.7 million, down 42.5% from the year before. It had a net loss of $2.7 million, a net profit margin of −9.2%. Diluted earnings per share came to −$2.24. Over five years revenue grew at an average rate of −13.6% a year.
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MF income statement FAQ
What is MindForge's annual revenue?
MindForge reported total revenue of $29.7 million for fiscal year 2025, which ended on June 30, 2025. That was down 42.5% from $51.6 million the previous year.
Is MindForge profitable?
No. MindForge reported a net loss of $2.7 million in fiscal 2025, a net profit margin of −9.2%; its operating margin was −10.5%.
What is MindForge's gross margin?
MindForge's gross margin was 0.8% in fiscal 2025: for every $100 of revenue, MindForge kept $1 after the direct cost of its products and services.
How fast is MindForge growing?
Revenue grew −13.6% a year on average over the last five fiscal years, from $61.6 million to $29.7 million.
What are MindForge's earnings per share?
MindForge earned $-2.24 per diluted share in fiscal 2025, compared with $-9.65 a year earlier.
When does MindForge's fiscal year end?
MindForge's fiscal year ends in June. The latest annual report covers the year ended June 30, 2025 and was filed on October 24, 2025.