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Issued on behalf of MindWalk Holdings Corp.
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AUSTIN, Texas, Sept. 03, 2026 (GLOBE NEWSWIRE) — Market Updates News Commentary – Earnings season in life sciences technology has just delivered an unusually clean verdict. The company that owns the industry’s data and systems of record beat and jumped. The company selling model-informed software into the same customers missed and fell by roughly the same amount on the day. The AI-native discovery company reported a fraction of the revenue analysts expected. Read together, those three results say something specific about where value is accruing in AI-enabled drug discovery, and it is not where most of the narrative has been pointed.
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Companies mentioned in today’s commentary include: MindWalk Holdings Corp. (Nasdaq: HYFT), Veeva Systems Inc. (NYSE: VEEV), Illumina, Inc. (Nasdaq: ILMN), Certara, Inc. (Nasdaq: CERT), and Recursion Pharmaceuticals, Inc. (Nasdaq: RXRX).
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Key Takeaways
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The durable asset sits below the model. Foundation models are licensed, fine-tuned and replaced on a cycle now measured in months. The connected representation of biology those models run on is built once and curated for decades. MindWalk Holdings Corp. is selling the second thing.
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Twenty years of curation, quantified. HYFT® Technology powers a function-aware representation of biology spanning sequence and structural biology, described by the Company as a continuously evolving biological representation of 660 million patterns and 25 billion relationships.
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Three layers that stack rather than compete. HYFT® Technology powers the representation, ReefIQ™ is the biological context layer launched June 10, 2026, and LensAI™ is the reasoning layer. LensAI is already in contracted, recurring arrangements with life-sciences customers today.
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Fiscal 2026 was the first year it showed in the numbers. Revenue rose 46% to C$15.6 million from C$10.6 million, gross margin expanded to 58.8% from 53.9%, and the net loss from continuing operations narrowed by more than half.
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Still a micro-cap with a fee-for-service base. Management has described recurring platform revenue as modest and not yet significant to the fiscal 2026 total, and the Company remains unprofitable. The contracted arrangements referenced above are not quantified.
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Three Results, One Message
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Start with the incumbent. Veeva Systems Inc. (NYSE: VEEV) reported quarterly revenue of $928 million, up 17.6% year over year, with adjusted earnings of $2.35 per share and full-year guidance lifted to roughly $3.68 billion. The shares rose sharply on the print. Chief Executive Officer Peter Gassner has framed the company’s AI opportunity in terms that are worth reading carefully: with core systems of record spanning the industry’s most critical functions and unique datasets, the company can deliver industry-specific AI deeply integrated into its applications.