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Side-by-side financial comparison of ZW Data Action Technologies Inc. (CNET) and MindWalk Holdings Corp. (HYFT). Click either name above to swap in a different company.
MindWalk Holdings Corp. is the larger business by last-quarter revenue ($3.0M vs $1.7M, roughly 1.8× ZW Data Action Technologies Inc.). ZW Data Action Technologies Inc. runs the higher net margin — -6.3% vs -94.5%, a 88.2% gap on every dollar of revenue. On growth, MindWalk Holdings Corp. posted the faster year-over-year revenue change (52.4% vs -47.0%). Over the past eight quarters, MindWalk Holdings Corp.'s revenue compounded faster (-18.2% CAGR vs -56.8%).
ZW Data Action Technologies Inc., trading under the symbol CNET, is a China-based technology enterprise focused on delivering integrated digital marketing solutions, big data analysis services, and intelligent operation tools for enterprise clients across sectors including e-commerce, consumer goods, and internet services. Its offerings help clients optimize user acquisition efficiency, boost operational performance, and advance digital transformation, primarily serving the Chinese domestic market and select Asia-Pacific clients.
CNET vs HYFT — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.7M | $3.0M |
| Net Profit | $-108.0K | $-2.9M |
| Gross Margin | 5.7% | 59.3% |
| Operating Margin | -8.9% | — |
| Net Margin | -6.3% | -94.5% |
| Revenue YoY | -47.0% | 52.4% |
| Net Profit YoY | 94.4% | 81.7% |
| EPS (diluted) | — | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $3.0M | ||
| Q4 25 | — | $3.0M | ||
| Q3 25 | $1.7M | $2.3M | ||
| Q2 25 | — | $12.1M | ||
| Q1 25 | $1.7M | $2.0M | ||
| Q4 24 | $2.2M | $2.0M | ||
| Q3 24 | $3.2M | $3.8M | ||
| Q2 24 | $6.4M | — |
| Q1 26 | — | $-2.9M | ||
| Q4 25 | — | $-2.3M | ||
| Q3 25 | $-108.0K | $-2.2M | ||
| Q2 25 | — | — | ||
| Q1 25 | $-531.0K | $-15.7M | ||
| Q4 24 | $-781.0K | $-1.9M | ||
| Q3 24 | $-1.9M | $-2.9M | ||
| Q2 24 | $-216.0K | — |
| Q1 26 | — | 59.3% | ||
| Q4 25 | — | 64.5% | ||
| Q3 25 | 5.7% | 48.3% | ||
| Q2 25 | — | 56.5% | ||
| Q1 25 | 9.7% | 64.6% | ||
| Q4 24 | -0.4% | 51.1% | ||
| Q3 24 | 1.7% | 19.2% | ||
| Q2 24 | 5.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | -8.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -35.0% | — | ||
| Q4 24 | -24.1% | — | ||
| Q3 24 | -61.5% | — | ||
| Q2 24 | -4.7% | — |
| Q1 26 | — | -94.5% | ||
| Q4 25 | — | -77.5% | ||
| Q3 25 | -6.3% | -93.6% | ||
| Q2 25 | — | — | ||
| Q1 25 | -32.1% | -788.9% | ||
| Q4 24 | -34.7% | -95.3% | ||
| Q3 24 | -59.1% | -76.0% | ||
| Q2 24 | -3.4% | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.8M | $10.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.3M | $10.8M |
| Total Assets | $9.7M | $16.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $10.4M | ||
| Q4 25 | — | $12.1M | ||
| Q3 25 | $1.8M | $3.7M | ||
| Q2 25 | — | $7.9M | ||
| Q1 25 | $807.0K | $9.5M | ||
| Q4 24 | $812.0K | $2.6M | ||
| Q3 24 | $1.1M | $2.9M | ||
| Q2 24 | $510.0K | — |
| Q1 26 | — | $10.8M | ||
| Q4 25 | — | $12.9M | ||
| Q3 25 | $3.3M | $15.1M | ||
| Q2 25 | — | $17.2M | ||
| Q1 25 | $3.1M | $18.2M | ||
| Q4 24 | $3.7M | $23.3M | ||
| Q3 24 | $4.8M | $24.0M | ||
| Q2 24 | $5.2M | — |
| Q1 26 | — | $16.8M | ||
| Q4 25 | — | $19.1M | ||
| Q3 25 | $9.7M | $29.7M | ||
| Q2 25 | — | $32.4M | ||
| Q1 25 | $9.5M | $33.2M | ||
| Q4 24 | $9.7M | $43.8M | ||
| Q3 24 | $11.0M | $43.3M | ||
| Q2 24 | $10.8M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-482.0K | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $-482.0K | $-3.1M | ||
| Q2 25 | — | $-4.7M | ||
| Q1 25 | $-984.0K | — | ||
| Q4 24 | $-830.0K | — | ||
| Q3 24 | $-198.0K | $-1.3M | ||
| Q2 24 | $-677.0K | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $-1.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-1.5M | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -61.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -39.6% | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.0% | 5.0% | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CNET
| Online Advertising Placement | $1.6M | 95% |
| Other | $83.0K | 5% |
HYFT
Segment breakdown not available.
