1.Sales and profit
See section β- Bright Minds Biosciences Inc. lost $8.7M in fiscal 2025.
Bright Minds Biosciences Inc.
DRUG Nasdaq Pharmaceutical Preparations Financials FY2020βFY2025
Last close Β· Oct 26, 2026
$51.09
2.6%KIRAβs summary AI analyst
Hi! I read Bright Minds Biosciences Inc.βs latest annual report (fiscal 2025). Here is what stands out:
1 to watch
2.Cash and shareholders
See section β- In the last 12 months, insiders sold $9.8M of shares on the open market and bought none.
Bright Minds Biosciences Inc. in 30 seconds
Good So-so Weak
Weak
Does it make a profit?
β$8.7M
No. It lost money last year.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
$351M
Oct 26 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
β
Sales and profit
Is it selling more, and how much does it keep?
Revenue and margins
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
FY20
Revenue β
FY21
Revenue β
FY22
Revenue β
FY23
Revenue β
FY24
Revenue β
FY25
Revenue β
Margins, % of revenue
FY20
Gross β
Operating β
Net β
FCF β
FY21
Gross β
Operating β
Net β
FCF β
FY22
Gross β
Operating β
Net β
FCF β
FY23
Gross β
Operating β
Net β
FCF β
FY24
Gross β
Operating β
Net β
FCF β
FY25
Gross β
Operating β
Net β
FCF β
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA Β· Bright Minds Biosciences Inc. lost $8.7M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
FY20
Net income β$0.4M
FY21
Net income β$6.8M
FY22
Net income β$11.7M
FY23
Net income β$5.5M
FY24
Net income β$2.1M
FY25
Net income β$8.7M
Diluted EPS
FY20
Diluted EPS β$0.10
FY21
Diluted EPS β$3.81
FY22
Diluted EPS β$4.74
FY23
Diluted EPS β$1.47
FY24
Diluted EPS β$0.48
FY25
Diluted EPS β
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
FY20
Free cash flow β
FY21
Free cash flow β
FY22
Free cash flow β
FY23
Free cash flow β
FY24
Free cash flow β
FY25
Free cash flow β
Cash from operations vs capital spending
FY20
Cash from operations β$0.2M
Capital spending β
FY21
Cash from operations β$5.8M
Capital spending β
FY22
Cash from operations β$10.6M
Capital spending β
FY23
Cash from operations β$5.2M
Capital spending β
FY24
Cash from operations β$1.4M
Capital spending β
FY25
Cash from operations β$6.2M
Capital spending β
Cash from operations
Capital spending
Dividends, buybacks and share count
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
FY20
Dividends β
Buybacks β
FY21
Dividends β
Buybacks β
FY22
Dividends β
Buybacks β
FY23
Dividends β
Buybacks β
FY24
Dividends β
Buybacks β
FY25
Dividends β
Buybacks β
Dividends
Buybacks
Diluted shares outstanding (annual)
FY20
Diluted shares 0.00B
FY21
Diluted shares 0.00B
FY22
Diluted shares 0.00B
FY23
Diluted shares 0.00B
FY24
Diluted shares 0.00B
FY25
Diluted shares 0.01B
Insider trades
KIRA Β· In the last 12 months, insiders sold $9.8M of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$9.8M
1 insider
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Apr 28, 2026 | Cormorant Asset Management, LPFormer 10% Owner | Sold | 109,331 | $89.50 | $9.8M | Form 4 |
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
Cash, debt and the ratios that show how comfortably Bright Minds Biosciences Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
FY20
Cash $0.6M
Debt β
FY21
Cash $15.5M
Debt β
FY22
Cash $8.5M
Debt β
FY23
Cash $5.0M
Debt β
FY24
Cash $4.2M
Debt β
FY25
Cash $59.6M
Debt β
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $15.5M | $8.5M | $5.0M | $4.2M | $59.6M |
| Current ratio | 31.4x | 8.1x | 24.3x | 11.3x | 36.1x |
| Quick ratio | 31.4x | 8.1x | 24.3x | 11.3x | 36.1x |
| Total assets | $15.7M | $8.8M | $5.1M | $4.5M | $60.6M |
| Total liabilities | $0.5M | $1.1M | $0.2M | $0.4M | $1.7M |
| Shareholders' equity | $15.2M | $7.7M | $4.9M | $4.1M | $58.9M |
| Net debt (β = net cash) | β | β | β | β | β |
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
FY20
Return on capital β
Return on equity β65.5%
Return on assets β54.3%
FY21
Return on capital β
Return on equity β86.7%
Return on assets β83.5%
FY22
Return on capital β
Return on equity β102.3%
Return on assets β95.6%
FY23
Return on capital β
Return on equity β86.9%
Return on assets β78.6%
FY24
Return on capital β
Return on equity β45.7%
Return on assets β42.7%
FY25
Return on capital β
Return on equity β27.7%
Return on assets β26.8%
Return on capital
Return on equity
Return on assets
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β |
| F-score | β / 3 | β / 5 | β / 6 | β / 6 | β / 6 | β / 6 |
| Accruals ratio | β21.7% | β12.8% | β8.8% | β3.7% | β14.5% | β7.8% |
| Altman Z'' | β | β | β | β | β | β |
All figures
Every number, year by year.
6 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Research and development | $0.3M | $5.0M | $9.5M | $3.7M | $0.9M | $7.9M |
| Income tax | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | β$0.4M | β$6.8M | β$11.7M | β$5.5M | β$2.1M | β$8.7M |
| Diluted EPS | β$0.10 | β$3.81 | β$4.74 | β$1.47 | β$0.48 | β |
| Diluted shares | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B | 0.01B |
| Cash flow | ||||||
| Cash from operations | β$0.2M | β$5.8M | β$10.6M | β$5.2M | β$1.4M | β$6.2M |
| Depreciation and amortization | $0.0M | $0.0M | $0.0M | $0.1M | $0.1M | $0.1M |
| Stock-based compensation | $0.1M | $0.7M | $0.7M | $0.9M | $0.6M | $2.3M |
| Balance sheet | ||||||
| Cash and short-term investments | $0.6M | $15.5M | $8.5M | $5.0M | $4.2M | $59.6M |
| Current assets | $0.7M | $15.7M | $8.7M | $5.1M | $4.4M | $60.6M |
| Current liabilities | β | $0.5M | $1.1M | $0.2M | $0.4M | $1.7M |
| Total assets | $0.7M | $15.7M | $8.8M | $5.1M | $4.5M | $60.6M |
| Total liabilities | $0.1M | $0.5M | $1.1M | $0.2M | $0.4M | $1.7M |
| Shareholders' equity | $0.5M | $15.2M | $7.7M | $4.9M | $4.1M | $58.9M |
| Returns | ||||||
| Return on equity | β65.5% | β86.7% | β102.3% | β86.9% | β45.7% | β27.7% |
| Return on assets | β54.3% | β83.5% | β95.6% | β78.6% | β42.7% | β26.8% |
| Return on tangible equity | β65.5% | β44.9% | β152.8% | β111.3% | β50.3% | β14.8% |
| Growth | ||||||
| Share count change | β | β50.3% | 37.6% | 50.6% | 15.9% | 59.6% |
| Financial health | ||||||
| Current ratio | β | 31.4x | 8.1x | 24.3x | 11.3x | 36.1x |
| Quick ratio | β | 31.4x | 8.1x | 24.3x | 11.3x | 36.1x |
| Quality scores | ||||||
| Accruals ratio | β21.7% | β12.8% | β8.8% | β3.7% | β14.5% | β7.8% |
Source: SEC EDGAR XBRL filings (CIK 0001827401). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in CAD under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only β not investment advice. Check the original filings before relying on any figure.