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Side-by-side financial comparison of MindWalk Holdings Corp. (HYFT) and Rigetti Computing, Inc. (RGTI). Click either name above to swap in a different company.
MindWalk Holdings Corp. is the larger business by last-quarter revenue ($3.0M vs $1.9M, roughly 1.6× Rigetti Computing, Inc.). MindWalk Holdings Corp. runs the higher net margin — -94.5% vs -974.7%, a 880.2% gap on every dollar of revenue. On growth, MindWalk Holdings Corp. posted the faster year-over-year revenue change (52.4% vs -17.9%). Over the past eight quarters, MindWalk Holdings Corp.'s revenue compounded faster (-18.2% CAGR vs -21.8%).
Rigetti Computing, Inc. is a Berkeley, California-based developer of superconducting quantum integrated circuits used for quantum computers. Rigetti also develops a cloud platform called Forest that enables programmers to write quantum algorithms.
HYFT vs RGTI — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.0M | $1.9M |
| Net Profit | $-2.9M | $-18.2M |
| Gross Margin | 59.3% | 34.9% |
| Operating Margin | — | -1209.7% |
| Net Margin | -94.5% | -974.7% |
| Revenue YoY | 52.4% | -17.9% |
| Net Profit YoY | 81.7% | 88.1% |
| EPS (diluted) | — | $-0.08 |
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 | $1.9M | ||
| Q3 25 | $2.3M | $1.9M | ||
| Q2 25 | $12.1M | $1.8M | ||
| Q1 25 | $2.0M | $1.5M | ||
| Q4 24 | $2.0M | $2.3M | ||
| Q3 24 | $3.8M | $2.4M | ||
| Q2 24 | — | $3.1M |
| Q1 26 | $-2.9M | — | ||
| Q4 25 | $-2.3M | $-18.2M | ||
| Q3 25 | $-2.2M | $-201.0M | ||
| Q2 25 | — | $-39.7M | ||
| Q1 25 | $-15.7M | $42.6M | ||
| Q4 24 | $-1.9M | $-153.0M | ||
| Q3 24 | $-2.9M | $-14.8M | ||
| Q2 24 | — | $-12.4M |
| Q1 26 | 59.3% | — | ||
| Q4 25 | 64.5% | 34.9% | ||
| Q3 25 | 48.3% | 20.7% | ||
| Q2 25 | 56.5% | 31.4% | ||
| Q1 25 | 64.6% | 30.0% | ||
| Q4 24 | 51.1% | 44.1% | ||
| Q3 24 | 19.2% | 50.6% | ||
| Q2 24 | — | 64.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | -1209.7% | ||
| Q3 25 | — | -1055.4% | ||
| Q2 25 | — | -1103.9% | ||
| Q1 25 | — | -1469.6% | ||
| Q4 24 | — | -813.3% | ||
| Q3 24 | — | -729.4% | ||
| Q2 24 | — | -521.2% |
| Q1 26 | -94.5% | — | ||
| Q4 25 | -77.5% | -974.7% | ||
| Q3 25 | -93.6% | -10321.9% | ||
| Q2 25 | — | -2201.8% | ||
| Q1 25 | -788.9% | 2895.3% | ||
| Q4 24 | -95.3% | -6726.5% | ||
| Q3 24 | -76.0% | -623.8% | ||
| Q2 24 | — | -402.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.08 | ||
| Q3 25 | — | $-0.62 | ||
| Q2 25 | — | $-0.13 | ||
| Q1 25 | — | $0.13 | ||
| Q4 24 | — | $-0.80 | ||
| Q3 24 | — | $-0.08 | ||
| Q2 24 | — | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.4M | $44.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $10.8M | $546.2M |
| Total Assets | $16.8M | $666.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $10.4M | — | ||
| Q4 25 | $12.1M | $44.9M | ||
| Q3 25 | $3.7M | $26.1M | ||
| Q2 25 | $7.9M | $57.2M | ||
| Q1 25 | $9.5M | $37.2M | ||
| Q4 24 | $2.6M | $67.7M | ||
| Q3 24 | $2.9M | $20.3M | ||
| Q2 24 | — | $20.7M |
| Q1 26 | $10.8M | — | ||
| Q4 25 | $12.9M | $546.2M | ||
| Q3 25 | $15.1M | $371.8M | ||
| Q2 25 | $17.2M | $553.3M | ||
| Q1 25 | $18.2M | $207.1M | ||
| Q4 24 | $23.3M | $126.6M | ||
| Q3 24 | $24.0M | $122.8M | ||
| Q2 24 | — | $122.2M |
| Q1 26 | $16.8M | — | ||
| Q4 25 | $19.1M | $666.6M | ||
| Q3 25 | $29.7M | $630.3M | ||
| Q2 25 | $32.4M | $636.7M | ||
| Q1 25 | $33.2M | $269.1M | ||
| Q4 24 | $43.8M | $284.8M | ||
| Q3 24 | $43.3M | $157.3M | ||
| Q2 24 | — | $162.4M |
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 | — | $-14.9M |
| Free Cash FlowOCF − Capex | — | $-19.5M |
| FCF MarginFCF / Revenue | — | -1042.5% |
| Capex IntensityCapex / Revenue | — | 244.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-77.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $-14.9M | ||
| Q3 25 | $-3.1M | $-13.8M | ||
| Q2 25 | $-4.7M | $-16.2M | ||
| Q1 25 | — | $-13.7M | ||
| Q4 24 | — | $-8.5M | ||
| Q3 24 | $-1.3M | $-15.4M | ||
| Q2 24 | — | $-13.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-19.5M | ||
| Q3 25 | — | $-19.7M | ||
| Q2 25 | — | $-21.8M | ||
| Q1 25 | — | $-16.2M | ||
| Q4 24 | — | $-9.8M | ||
| Q3 24 | $-1.5M | $-17.7M | ||
| Q2 24 | — | $-15.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | -1042.5% | ||
| Q3 25 | — | -1012.4% | ||
| Q2 25 | — | -1212.4% | ||
| Q1 25 | — | -1100.4% | ||
| Q4 24 | — | -432.1% | ||
| Q3 24 | -39.6% | -744.5% | ||
| Q2 24 | — | -504.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 244.8% | ||
| Q3 25 | — | 302.5% | ||
| Q2 25 | — | 314.7% | ||
| Q1 25 | — | 173.0% | ||
| Q4 24 | — | 56.4% | ||
| Q3 24 | 5.0% | 95.8% | ||
| Q2 24 | — | 66.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -0.32× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HYFT
Segment breakdown not available.
RGTI
| Collaborative Research And Other Professional Services | $1.7M | 93% |
| Other | $131.0K | 7% |
