Mindwalk Holdings vs Relay Therapeutics
Relay Therapeutics is the larger business, with $15.4m of revenue in fiscal 2025 against $11.3m for Mindwalk Holdings (1.4 times as much). Relay Therapeutics grew faster (53.4% against 47.8%). Mindwalk Holdings kept more of each dollar of sales as profit: a net margin of -89.7% against -1800.6%. Mindwalk Holdings carries less debt relative to equity (0.0% against 0.0%).
| Latest fiscal year | Mindwalk HoldingsHYFT, 2026 | Relay TherapeuticsRLAY, 2025 |
|---|---|---|
| Revenue | $11.3m | $15.4m |
| Revenue growth | 47.8% | 53.4% |
| Net income | −$10.1m | −$276m |
| Operating margin | — | -1971.6% |
| Net margin | -89.7% | -1800.6% |
| Return on equity | -78.5% | -41.1% |
| Free cash flow | −$9.3m | −$236m |
| Cash | $8.4m | $84.0m |
| Total debt | $0 | $0 |
| Debt to equity | 0.0% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | 192 |
| Market value | $50.6m | $3.84bn |
| Price vs our value range | — | — |
| Moat score | — | 12 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 40 sales |