NASDAQ · Technology

MindForge Inc. (MF)

MindForge Inc. reported revenue of $29.7M in fiscal 2025, down 42.5% from a year earlier. It posted a net loss of $2.7M. At June 30, 2025 it held $11.2M in cash. Its latest periodic report to the SEC is the annual report (foreign issuer) (20-F) filed on October 24, 2025.

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Price

$17.50

+3.55% on the day · November 11, 2026

52-week range $2.12 to $83.50

Market cap

$31.8M

Revenue (FY2025)

$29.7M

-42.5% year on year

Net margin

-9.2%

Key facts about MindForge Inc.

Net worth: MindForge Inc. has a market value (market cap) of $31.8M at the latest share price, and shareholders' equity of $19M on its balance sheet at June 30, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Revenue and profit: In fiscal 2025 revenue was $29.7M (-42.5% year on year), with a net loss of $2.7M.
Cash flow: In fiscal 2025 operations used $2.8M of cash.
Latest report: The latest periodic report (annual report (foreign issuer), 20-F) was filed with the SEC on October 24, 2025 and covers the period to June 30, 2025. Open on SEC EDGAR

What MindForge Inc. does

MindForge Inc. is registered with the SEC under industry code SIC 7370 (Services-Computer Programming, Data Processing, Etc.). Its shares trade on NASDAQ under the ticker MF.

Revenue and profit by year

Revenue

Net income

Fiscal years as reported in annual reports. Amounts in USD.

Key figures

Fiscal year	Revenue	Operating income	Net income	Diluted EPS	Free cash flow
2025	$29.7M	-$3.1M	-$2.7M	-$0.37	n/a
2024	$51.6M	-$872.9K	-$748.5K	-$0.48	-$1.4M
2024	$94.3M	$153.9K	$205.9K	$0.16	-$285.8K
2022	$86.7M	$126.6K	-$49K	$0.00	$360.1K

Earnings: every quarter and the next report date

Full financial statements: income, balance sheet and cash flow

Where MF ranks in Technology

Revenue$29.7M

#525 of 751 in Technology · Bottom 30%

Revenue growth-42.5%

#599 of 604 in Technology · Bottom 1%

Net margin-9.2%

#434 of 611 in Technology · Bottom 29%

Latest fiscal year of every company in the sector with the figure reported. Revenue is ranked among companies reporting in US dollars; growth and margins among companies with at least 10 million of revenue. Technology

Latest SEC filings

What MindForge Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.

July 17, 2026
Foreign issuer update 6-K
May 27, 2026
Foreign issuer update 6-K
April 28, 2026
Foreign issuer update 6-K
April 27, 2026
Foreign issuer update 6-K
April 27, 2026
Foreign issuer update 6-K
April 3, 2026
Foreign issuer update 6-K
December 9, 2025
Form F-3/A filing F-3/A
November 26, 2025
Form F-3 filing F-3
November 6, 2025
Foreign issuer update 6-K
October 24, 2025
Annual report (foreign issuer) 20-F · period to June 30, 2025Revenue fell 42% to $29.7M versus the prior year; diluted EPS -$0.37 versus -$0.48.

Insider trades

What the people running MindForge Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.

No insider trades were reported in the last 90 days.

Bought (open market)

last 90 days

Sold

last 90 days

All insider filings on SEC.gov · Where insiders are buying across the market

Who owns MF

Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.

5% holders

Anyone who owns more than 5% of a class of shares must say so on Schedule 13D (if they may seek to influence the company) or 13G (a passive holder). The latest filing of each holder is shown: 13G filings of the last 2 years, 13D of the last 3.

Holder	Of class	Shares	Filed
Jian Chen13D, may seek influence	77.5%	7,592,185	March 20, 2025

Largest institutional holders

No Form 13F positions imported for this company yet.

Insiders

Reported holdings of insiders who filed a Form 4 in the last 12 months: the shares each one held after their latest reported transaction. This is not the total held by all insiders.

No insider reported holdings on a Form 4 in the last 12 months.

Schedule 13D/13G filings on SEC.gov

All filings on SEC EDGAR

Questions about MF

What does MindForge Inc. do?

MindForge Inc. is a company in the Technology sector, listed on NASDAQ as MF. Its shares trade on NASDAQ under the ticker MF.

What is MindForge Inc.'s net worth?

MindForge Inc. has a market value (market cap) of $31.8M at the latest share price, and shareholders' equity of $19M on its balance sheet at June 30, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.

Is MindForge Inc. profitable?

No. In fiscal 2025 it reported a net loss of $2.7M on revenue of $29.7M.

How much revenue does MindForge Inc. make?

In fiscal 2025 MindForge Inc. reported revenue of $29.7M. That is 42.5% less than a year earlier.

When did MindForge Inc. last report?

Its most recent periodic report is the annual report (foreign issuer) (20-F) filed on October 24, 2025. It covers the period to June 30, 2025. Its newest filing of any kind is the foreign issuer update from July 17, 2026.

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Where the numbers come from

Financial figures are the values MindForge Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.

Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.