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Side-by-side financial comparison of MindWalk Holdings Corp. (HYFT) and Virgin Galactic Holdings, Inc (SPCE). Click either name above to swap in a different company.
Virgin Galactic Holdings, Inc is the larger business by last-quarter revenue ($4.2M vs $3.0M, roughly 1.4× MindWalk Holdings Corp.). MindWalk Holdings Corp. runs the higher net margin — -94.5% vs -2222.2%, a 2127.6% gap on every dollar of revenue. On growth, Virgin Galactic Holdings, Inc posted the faster year-over-year revenue change (125.5% vs 52.4%).
Virgin Galactic Holdings, Inc. is a British-American spaceflight company founded by Richard Branson and the Virgin Group conglomerate, which retains an 11.9% stake through Virgin Investments Limited.
HYFT vs SPCE — Head-to-Head
Income Statement — Q3 FY2026 vs Q2 FY2024
| Metric | | |
|---|---|---|
| Revenue | $3.0M | $4.2M |
| Net Profit | $-2.9M | $-93.8M |
| Gross Margin | 59.3% | -546.6% |
| Operating Margin | — | -2412.1% |
| Net Margin | -94.5% | -2222.2% |
| Revenue YoY | 52.4% | 125.5% |
| Net Profit YoY | 81.7% | 30.2% |
| EPS (diluted) | — | $-4.36 |
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 | $2.3M | — | ||
| Q2 25 | $12.1M | — | ||
| Q1 25 | $2.0M | — | ||
| Q4 24 | $2.0M | — | ||
| Q3 24 | $3.8M | — | ||
| Q2 24 | — | $4.2M |
| Q1 26 | $-2.9M | — | ||
| Q4 25 | $-2.3M | — | ||
| Q3 25 | $-2.2M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $-15.7M | — | ||
| Q4 24 | $-1.9M | — | ||
| Q3 24 | $-2.9M | — | ||
| Q2 24 | — | $-93.8M |
| Q1 26 | 59.3% | — | ||
| Q4 25 | 64.5% | — | ||
| Q3 25 | 48.3% | — | ||
| Q2 25 | 56.5% | — | ||
| Q1 25 | 64.6% | — | ||
| Q4 24 | 51.1% | — | ||
| Q3 24 | 19.2% | — | ||
| Q2 24 | — | -546.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -2412.1% |
| Q1 26 | -94.5% | — | ||
| Q4 25 | -77.5% | — | ||
| Q3 25 | -93.6% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -788.9% | — | ||
| Q4 24 | -95.3% | — | ||
| Q3 24 | -76.0% | — | ||
| Q2 24 | — | -2222.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $-4.36 |
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 | $775.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $10.8M | $394.8M |
| Total Assets | $16.8M | $1.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $10.4M | — | ||
| Q4 25 | $12.1M | — | ||
| Q3 25 | $3.7M | — | ||
| Q2 25 | $7.9M | — | ||
| Q1 25 | $9.5M | — | ||
| Q4 24 | $2.6M | — | ||
| Q3 24 | $2.9M | — | ||
| Q2 24 | — | $775.7M |
| Q1 26 | $10.8M | — | ||
| Q4 25 | $12.9M | — | ||
| Q3 25 | $15.1M | — | ||
| Q2 25 | $17.2M | — | ||
| Q1 25 | $18.2M | — | ||
| Q4 24 | $23.3M | — | ||
| Q3 24 | $24.0M | — | ||
| Q2 24 | — | $394.8M |
| Q1 26 | $16.8M | — | ||
| Q4 25 | $19.1M | — | ||
| Q3 25 | $29.7M | — | ||
| Q2 25 | $32.4M | — | ||
| Q1 25 | $33.2M | — | ||
| Q4 24 | $43.8M | — | ||
| Q3 24 | $43.3M | — | ||
| Q2 24 | — | $1.1B |
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 | — | $-79.1M |
| Free Cash FlowOCF − Capex | — | $-113.5M |
| FCF MarginFCF / Revenue | — | -2690.7% |
| Capex IntensityCapex / Revenue | — | 815.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-458.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $-3.1M | — | ||
| Q2 25 | $-4.7M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-1.3M | — | ||
| Q2 24 | — | $-79.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-1.5M | — | ||
| Q2 24 | — | $-113.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -39.6% | — | ||
| Q2 24 | — | -2690.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 5.0% | — | ||
| Q2 24 | — | 815.5% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
