What is Avista Public Acquisition Corp. II's operating income?

Avista Public Acquisition Corp. II's total operating income in 2025 was -$68.97 million, based on the following breakdown: Total Gross Profit: $18.36 million Total Operating Expenses: $87.33 million

Avista Public Acquisition Corp. II (AHPAW) Financials

$0.39 +0.02 (+6.12%)

As of 10/2/2026

Annual Income Statements for Avista Public Acquisition Corp. II

This table shows Avista Public Acquisition Corp. II's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-27	-22	-51	-62	-65
Consolidated Net Income / (Loss)	-27	-22	-51	-62	-65
Net Income / (Loss) Continuing Operations	-27	-22	-51	-62	-65
Total Pre-Tax Income	-34	-26	-64	-71	-66
Total Operating Income	-36	-27	-69	-75	-69
Total Gross Profit	35	59	34	26	18
Total Revenue	35	59	34	26	19
Operating Revenue	35	59	34	26	19
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.30
Operating Cost of Revenue	-	-	-	0.00	0.30
Total Operating Expenses	70	86	104	101	87
Selling, General & Admin Expense	17	25	33	31	29
Research & Development Expense	39	48	57	55	48
Amortization Expense	13	13	14	17	13
Other Operating Expenses / (Income)	1.21	-0.59	0.19	-2.37	-2.55
Total Other Income / (Expense), net	1.26	0.59	5.06	3.09	2.68
Interest & Investment Income	0.00	0.59	5.06	3.11	2.66
Other Income / (Expense), net	1.27	0.00	0.00	-0.02	0.02
Income Tax Expense	-7.31	-3.73	-14	-9.38	-1.52
Basic Earnings per Share	($0.33)	($0.26)	($0.51)	($0.61)	($0.57)
Weighted Average Basic Shares Outstanding	82.61M	85.32M	99.68M	102.37M	113.64M
Diluted Earnings per Share	($0.33)	($0.26)	($0.51)	($0.61)	($0.57)
Weighted Average Diluted Shares Outstanding	82.61M	85.32M	99.68M	102.37M	113.64M
Weighted Average Basic & Diluted Shares Outstanding	-	115.58M	117.13M	122.13M	144.78M

This table shows Avista Public Acquisition Corp. II's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-14	-19	-14	-16	-13	-18	-16	-17	-14	-7.71	-5.86
Consolidated Net Income / (Loss)	-14	-19	-14	-16	-13	-18	-16	-17	-14	-7.71	-5.86
Net Income / (Loss) Continuing Operations	-14	-19	-14	-16	-13	-18	-16	-17	-14	-7.71	-5.86
Total Pre-Tax Income	-20	-22	-16	-19	-15	-18	-16	-18	-15	-7.27	-6.21
Total Operating Income	-21	-23	-16	-20	-16	-19	-16	-18	-16	-7.83	-6.64
Total Gross Profit	4.82	3.80	7.61	4.17	11	4.15	3.64	2.21	8.36	14	13
Total Revenue	4.82	3.80	7.61	4.17	11	4.15	3.90	2.24	8.38	14	13
Operating Revenue	4.82	3.80	7.61	4.17	11	4.15	3.90	2.24	8.38	14	13
Total Cost of Revenue	-	0.00	0.00	0.00	-	0.00	0.26	0.03	0.01	0.02	0.61
Operating Cost of Revenue	-	-	0.00	0.00	-	0.00	0.26	0.03	-	0.02	0.61
Total Operating Expenses	26	26	24	24	27	23	20	20	24	22	19
Selling, General & Admin Expense	7.87	8.34	7.97	7.08	7.36	7.92	7.68	6.78	6.84	6.62	6.65
Research & Development Expense	15	15	14	13	13	13	11	10	14	9.64	9.59
Amortization Expense	3.41	3.41	4.54	3.39	6.06	3.23	3.23	3.23	3.23	6.03	3.05
Other Operating Expenses / (Income)	-0.01	0.05	-2.52	0.15	-0.04	-0.75	-1.92	-0.03	0.15	-0.05	0.15
Total Other Income / (Expense), net	1.18	0.98	0.78	0.68	0.66	0.54	0.46	0.45	1.22	0.56	0.43
Interest & Investment Income	1.18	0.98	0.79	0.69	0.66	0.54	0.44	0.46	1.23	0.49	0.43
Other Income / (Expense), net	-	0.00	-0.01	-0.01	-	0.00	0.03	-0.01	-0.01	0.08	-0.01
Income Tax Expense	-5.98	-2.62	-1.90	-2.71	-2.16	-0.11	0.12	-1.16	-0.37	0.44	-0.35
Basic Earnings per Share	($0.14)	($0.19)	($0.13)	($0.16)	($0.13)	($0.17)	($0.15)	($0.14)	($0.11)	($0.06)	($0.05)
Weighted Average Basic Shares Outstanding	99.68M	100.76M	101.46M	102.39M	102.37M	105.62M	106.15M	114.73M	113.64M	128.25M	128.80M
Diluted Earnings per Share	($0.14)	($0.19)	($0.13)	($0.16)	($0.13)	($0.17)	($0.15)	($0.14)	($0.11)	($0.06)	($0.05)
Weighted Average Diluted Shares Outstanding	99.68M	100.76M	101.46M	102.39M	102.37M	105.62M	106.15M	114.73M	113.64M	128.25M	128.80M
Weighted Average Basic & Diluted Shares Outstanding	117.13M	117.62M	118.16M	121.01M	122.13M	122.34M	122.70M	143.96M	144.78M	144.97M	145.39M

This table details how cash moves in and out of Avista Public Acquisition Corp. II's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	0.00	34	-17	11	-2.07
Net Cash From Operating Activities	-5.67	-3.59	2.35	-40	-36
Net Cash From Continuing Operating Activities	-5.67	-3.59	2.35	-40	-36
Net Income / (Loss) Continuing Operations	-27	-22	-51	-62	-65
Consolidated Net Income / (Loss)	-27	-22	-51	-62	-65
Depreciation Expense	16	18	19	24	22
Amortization Expense	-	-0.17	-3.44	-1.50	-0.86
Non-Cash Adjustments To Reconcile Net Income	14	19	25	22	14
Changes in Operating Assets and Liabilities, net	-8.75	-18	12	-22	-6.16
Net Cash From Investing Activities	-4.03	-73	-18	38	6.47
Net Cash From Continuing Investing Activities	-4.03	-73	-18	38	6.47
Purchase of Property, Plant & Equipment	-4.07	-17	-1.64	-1.88	-0.57
Purchase of Investments	0.00	-55	-113	-40	-47
Divestitures	-	-	-	0.00	3.00
Sale and/or Maturity of Investments	1.27	0.07	100	80	51
Other Investing Activities, net	-1.22	-1.44	-4.44	-0.40	0.00
Net Cash From Financing Activities	9.70	111	-0.89	13	28
Net Cash From Continuing Financing Activities	9.70	111	-0.89	13	28
Issuance of Common Equity	0.00	97	1.21	15	29
Other Financing Activities, net	9.70	14	-2.10	-1.61	-0.77

This table details how cash moves in and out of Avista Public Acquisition Corp. II's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-4.89	2.70	1.73	6.44	0.36	-17	7.39	10	-3.01	3.52	-4.71
Net Cash From Operating Activities	-9.12	-17	-12	-6.58	-3.87	-16	-5.15	-9.76	-5.67	-4.91	2.68
Net Cash From Continuing Operating Activities	-9.12	-17	-12	-6.58	-3.87	-16	-5.15	-9.76	-5.67	-4.91	2.68
Net Income / (Loss) Continuing Operations	-14	-19	-14	-16	-13	-18	-16	-17	-14	-7.71	-5.86
Consolidated Net Income / (Loss)	-14	-19	-14	-16	-13	-18	-16	-17	-14	-7.71	-5.86
Depreciation Expense	4.93	4.95	6.10	4.93	7.61	0.97	4.65	4.66	7.71	0.61	0.58
Amortization Expense	-0.79	-0.62	-0.38	-0.29	-0.21	3.54	-0.20	-0.17	-0.24	6.41	3.50
Non-Cash Adjustments To Reconcile Net Income	5.94	5.68	5.93	5.30	5.14	4.17	1.21	4.00	4.21	3.40	3.17
Changes in Operating Assets and Liabilities, net	-5.15	-8.08	-10	-0.14	-3.33	-6.34	5.07	-1.72	-3.17	-7.62	1.30
Net Cash From Investing Activities	4.73	20	13	4.45	0.39	-0.88	12	-7.67	2.71	8.44	-7.62
Net Cash From Continuing Investing Activities	4.73	20	13	4.45	0.39	-0.88	12	-7.67	2.71	8.44	-7.62
Purchase of Property, Plant & Equipment	-0.11	-0.93	-0.75	-0.15	-0.05	-0.21	-0.17	-0.18	-0.01	-0.17	-0.11
Purchase of Investments	-26	-5.42	-11	-8.98	-15	-10	-8.34	-20	-8.28	-9.40	-24
Sale and/or Maturity of Investments	31	27	25	14	15	9.59	18	13	11	18	16
Net Cash From Financing Activities	-0.50	-0.20	0.80	8.57	3.85	0.04	0.24	28	-0.05	0.00	0.23
Net Cash From Continuing Financing Activities	-0.50	-0.20	0.80	8.57	3.85	0.04	0.24	28	-0.05	0.00	0.23
Issuance of Common Equity	0.22	1.00	1.14	8.59	3.90	0.04	0.30	28	0.15	0.00	0.35

This table presents Avista Public Acquisition Corp. II's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	304	421	375	326	301
Total Current Assets	23	125	95	68	65
Cash & Equivalents	0.00	33	16	28	26
Short-Term Investments	0.00	55	71	32	29
Accounts Receivable	21	30	3.84	5.27	7.39
Prepaid Expenses	1.41	6.40	4.07	3.43	3.93
Plant, Property, & Equipment, net	6.80	20	18	15	9.43
Total Noncurrent Assets	275	276	262	242	226
Goodwill	84	84	84	84	84
Intangible Assets	176	167	155	138	125
Other Noncurrent Operating Assets	15	25	23	20	17
Total Liabilities & Shareholders' Equity	304	421	375	326	301
Total Liabilities	70	80	61	38	34
Total Current Liabilities	21	26	23	15	16
Short-Term Debt	2.54	4.02	1.30	0.53	1.04
Accounts Payable	2.92	2.97	4.41	2.30	1.88
Accrued Expenses	3.75	5.56	7.07	6.14	6.29
Current Deferred Revenue	11	8.21	6.85	2.34	3.16
Other Current Liabilities	0.58	1.78	3.49	3.78	3.88
Total Noncurrent Liabilities	50	54	38	23	18
Capital Lease Obligations	13	24	22	19	16
Noncurrent Deferred Revenue	9.23	4.33	0.86	0.12	0.00
Noncurrent Deferred & Payable Income Tax Liabilities	22	21	11	2.31	0.79
Other Noncurrent Operating Liabilities	5.12	4.14	3.23	1.04	0.39
Total Equity & Noncontrolling Interests	234	341	315	288	267
Total Preferred & Common Equity	234	341	315	288	267
Preferred Stock	0.00	0.00	0.00	0.00	0.00
Total Common Equity	234	341	315	288	267
Common Stock	0.00	330	354	389	433
Retained Earnings	0.00	11	-39	-101	-166
Accumulated Other Comprehensive Income / (Loss)	0.00	0.01	0.05	0.03	0.01

This table presents Avista Public Acquisition Corp. II's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	413	405	392	353	337	332	306	296	310	294	290
Total Current Assets	121	116	107	77	67	67	54	48	66	65	66
Cash & Equivalents	23	21	21	19	21	27	11	18	29	29	24
Short-Term Investments	91	82	75	50	36	32	33	23	31	20	28
Accounts Receivable	1.82	8.61	6.14	4.05	6.88	3.50	6.48	2.71	3.10	13	10
Prepaid Expenses	5.66	4.18	4.08	3.67	3.20	3.73	3.51	3.30	3.75	3.41	3.69
Plant, Property, & Equipment, net	19	19	19	18	17	16	15	14	13	9.02	8.48
Total Noncurrent Assets	273	270	266	258	253	249	238	234	230	220	216
Goodwill	84	84	84	84	84	84	84	84	84	84	84
Intangible Assets	164	162	159	152	148	144	135	132	128	119	116
Other Noncurrent Operating Assets	24	24	24	22	21	21	19	18	18	16	16
Total Liabilities & Shareholders' Equity	413	405	392	353	337	332	306	296	310	294	290
Total Liabilities	72	71	67	51	43	40	33	34	32	31	30
Total Current Liabilities	22	24	25	18	14	14	11	13	13	14	14
Short-Term Debt	2.47	2.81	1.75	0.89	0.33	0.51	0.35	1.12	0.72	1.00	0.94
Accounts Payable	2.49	2.36	2.50	3.56	2.81	2.19	1.93	1.98	1.91	1.65	2.09
Accrued Expenses	3.91	4.93	6.52	4.03	4.55	5.45	3.58	4.71	5.15	4.03	4.50
Current Deferred Revenue	6.89	7.27	7.38	5.53	2.91	2.51	1.73	0.98	1.64	2.94	2.26
Other Current Liabilities	2.44	3.42	3.45	3.52	3.56	3.75	3.81	3.84	3.86	3.94	3.97
Total Noncurrent Liabilities	51	47	42	34	29	25	21	21	19	17	16
Capital Lease Obligations	23	23	23	21	21	20	19	18	17	16	15
Noncurrent Deferred Revenue	3.02	3.48	1.95	0.28	0.07	0.04	0.00	0.04	0.00	0.37	0.31
Noncurrent Deferred & Payable Income Tax Liabilities	20	17	14	8.74	6.84	4.13	2.21	2.33	1.17	1.23	0.88
Other Noncurrent Operating Liabilities	3.73	3.42	3.56	3.21	1.24	1.16	0.39	0.66	0.60	0.11	0.09
Total Equity & Noncontrolling Interests	341	334	325	301	294	292	274	262	277	263	260
Total Preferred & Common Equity	341	334	325	301	294	292	274	262	277	263	260
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	341	334	325	301	294	292	274	262	277	263	260
Common Stock	336	343	350	360	366	380	393	398	429	437	440
Retained Earnings	5.15	-9.58	-25	-58	-72	-88	-120	-135	-152	-174	-180
Accumulated Other Comprehensive Income / (Loss)	0.01	-0.05	-0.05	-0.02	-0.03	0.05	0.01	-0.00	0.01	-0.00	-0.02

This table displays calculated financial ratios and metrics derived from Avista Public Acquisition Corp. II's official financial filings.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	-	-	-	-	143,955,400.00
DEI Adjusted Shares Outstanding	-	-	-	-	143,955,400.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-0.45
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	70.02%	-42.17%	-22.75%	-29.27%
EBITDA Growth	0.00%	52.63%	-522.73%	1.74%	8.34%
EBIT Growth	0.00%	22.41%	-160.50%	-7.35%	7.47%
NOPAT Growth	0.00%	25.17%	-160.50%	-7.32%	7.43%
Net Income Growth	0.00%	17.41%	-126.65%	-22.55%	-4.43%
EPS Growth	0.00%	21.21%	-96.15%	-19.61%	6.56%
Operating Cash Flow Growth	0.00%	36.76%	165.43%	-1,789.99%	8.09%
Free Cash Flow Firm Growth	0.00%	0.00%	61.66%	-161.01%	37.72%
Invested Capital Growth	0.00%	12.23%	-10.59%	-1.15%	-7.09%
Revenue Q/Q Growth	0.00%	0.00%	-47.19%	29.31%	-11.51%
EBITDA Q/Q Growth	0.00%	0.00%	-136.10%	14.03%	0.37%
EBIT Q/Q Growth	0.00%	0.00%	-77.25%	6.65%	0.15%
NOPAT Q/Q Growth	0.00%	0.00%	-77.26%	6.67%	0.17%
Net Income Q/Q Growth	0.00%	0.00%	-70.17%	1.56%	-1.75%
EPS Q/Q Growth	0.00%	0.00%	-82.14%	1.61%	3.39%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-45.73%	11.69%	-5.20%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	12.69%	1.92%
Invested Capital Q/Q Growth	0.00%	0.00%	-0.56%	-1.92%	-2.28%
Profitability Metrics	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	98.38%
EBITDA Margin	-52.06%	-14.50%	-156.19%	-198.67%	-257.46%
Operating Margin	-102.48%	-45.11%	-203.19%	-282.30%	-369.49%
EBIT Margin	-98.83%	-45.11%	-203.19%	-282.36%	-369.41%
Profit (Net Income) Margin	-77.82%	-37.80%	-148.16%	-235.05%	-347.04%
Tax Burden Percent	78.72%	85.70%	78.65%	86.87%	97.71%
Interest Burden Percent	100.02%	97.80%	92.72%	95.83%	96.14%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-9.97%	-7.03%	-18.28%	-20.90%	-20.17%
ROIC Less NNEP Spread (ROIC-NNEP)	-23.35%	9.38%	-15.02%	-1.74%	23.22%
Return on Net Nonoperating Assets (RNNOA)	-1.58%	-0.73%	2.85%	0.30%	-3.18%
Return on Equity (ROE)	-11.54%	-7.76%	-15.43%	-20.60%	-23.36%
Cash Return on Invested Capital (CROIC)	0.00%	-18.55%	-7.10%	-19.74%	-12.82%
Operating Return on Assets (OROA)	-11.28%	-7.34%	-17.43%	-21.27%	-22.01%
Return on Assets (ROA)	-8.88%	-6.16%	-12.71%	-17.70%	-20.68%
Return on Common Equity (ROCE)	-11.54%	-7.76%	-15.43%	-20.60%	-23.36%
Return on Equity Simple (ROE_SIMPLE)	-11.54%	-6.54%	-16.09%	-21.57%	0.00%
Net Operating Profit after Tax (NOPAT)	-25	-19	-49	-52	-48
NOPAT Margin	-71.73%	-31.58%	-142.24%	-197.61%	-258.64%
Net Nonoperating Expense Percent (NNEP)	13.38%	-16.41%	-3.26%	-19.16%	-43.40%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-14.38%	-16.96%	-16.97%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	1.62%
SG&A Expenses to Revenue	48.77%	42.15%	97.51%	116.48%	156.51%
R&D to Revenue	112.90%	81.87%	165.45%	208.82%	255.83%
Operating Expenses to Revenue	202.48%	145.11%	303.19%	382.30%	467.87%
Earnings before Interest and Taxes (EBIT)	-34	-27	-69	-75	-69
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-18	-8.57	-53	-52	-48
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.30	2.28	1.49	1.00
Price to Tangible Book Value (P/TBV)	0.00	1.15	9.55	6.53	4.60
Price to Revenue (P/Rev)	0.00	1.75	20.99	16.23	14.27
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.15	2.60	1.57	1.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.73	19.13	14.73	12.31
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	278.48	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.07	0.08	0.07	0.07	0.07
Long-Term Debt to Equity	0.06	0.07	0.07	0.07	0.06
Financial Leverage	0.07	-0.08	-0.19	-0.17	-0.14
Leverage Ratio	1.30	1.26	1.21	1.16	1.13
Compound Leverage Factor	1.30	1.23	1.13	1.12	1.09
Debt to Total Capital	6.32%	7.59%	6.92%	6.48%	6.15%
Short-Term Debt to Total Capital	1.01%	1.09%	0.39%	0.17%	0.37%
Long-Term Debt to Total Capital	5.31%	6.50%	6.53%	6.30%	5.78%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	93.68%	92.41%	93.08%	93.52%	93.84%
Debt to EBITDA	-0.87	-3.27	-0.44	-0.38	-0.36
Net Debt to EBITDA	-0.87	7.03	1.19	0.75	0.76
Long-Term Debt to EBITDA	-0.73	-2.80	-0.41	-0.37	-0.34
Debt to NOPAT	-0.63	-1.50	-0.48	-0.38	-0.36
Net Debt to NOPAT	-0.63	3.23	1.31	0.76	0.76
Long-Term Debt to NOPAT	-0.53	-1.29	-0.45	-0.37	-0.34
Altman Z-Score	0.00	1.03	6.66	5.86	3.44
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-
Current Ratio	1.10	4.80	4.11	4.52	4.02
Quick Ratio	1.03	4.56	3.93	4.29	3.78
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-49	-19	-49	-31
Operating Cash Flow to CapEx	-139.36%	-20.89%	142.76%	-2,115.41%	-6,452.21%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-810.29	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-1,391.71	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.11	0.16	0.09	0.08	0.06
Accounts Receivable Turnover	1.64	2.30	2.00	5.79	2.95
Inventory Turnover	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	5.11	4.41	1.79	1.56	1.50
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.15
Days Sales Outstanding (DSO)	222.02	158.86	182.34	63.04	123.80
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	2,515.25
Cash Conversion Cycle (CCC)	222.02	158.86	182.34	63.04	-2,391.45
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	250	281	251	248	231
Invested Capital Turnover	0.14	0.22	0.13	0.11	0.08
Increase / (Decrease) in Invested Capital	0.00	31	-30	-2.88	-18
Enterprise Value (EV)	0.00	43	654	389	230
Market Capitalization	0.00	104	717	428	266
Book Value per Share	$8.15	$4.00	$2.71	$2.38	$1.85
Tangible Book Value per Share	($0.90)	$1.06	$0.65	$0.54	$0.40
Total Capital	250	369	338	308	285
Total Debt	16	28	23	20	17
Total Long-Term Debt	13	24	22	19	16
Net Debt	16	-60	-64	-40	-37
Capital Expenditures (CapEx)	4.07	17	1.64	1.88	0.57
Debt-free, Cash-free Net Working Capital (DFCFNWC)	4.50	15	-14	-5.85	-3.89
Debt-free Net Working Capital (DFNWC)	4.50	103	73	54	50
Net Working Capital (NWC)	1.97	99	72	53	49
Net Nonoperating Expense (NNE)	2.12	3.68	2.03	9.88	17
Net Nonoperating Obligations (NNO)	16	-61	-64	-40	-37
Total Depreciation and Amortization (D&A)	16	18	16	22	21
Debt-free, Cash-free Net Working Capital to Revenue	12.96%	24.86%	-40.67%	-22.18%	-20.86%
Debt-free Net Working Capital to Revenue	12.96%	174.26%	213.93%	203.03%	268.57%
Net Working Capital to Revenue	5.66%	167.46%	210.12%	201.02%	262.98%
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.26)	($0.51)	($0.61)	($0.57)
Adjusted Weighted Average Basic Shares Outstanding	0.00	85.32M	99.68M	102.37M	113.64M
Adjusted Diluted Earnings per Share	$0.00	($0.26)	($0.51)	($0.61)	($0.57)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	85.32M	99.68M	102.37M	113.64M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	115.58M	117.13M	122.13M	144.78M
Normalized Net Operating Profit after Tax (NOPAT)	-25	-19	-49	-52	-48
Normalized NOPAT Margin	-71.73%	-31.58%	-142.24%	-197.61%	-258.64%
Pre Tax Income Margin	-98.85%	-44.11%	-188.39%	-270.59%	-355.16%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	-4,906.14	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-3,560.90	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-5,487.57	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-4,142.33	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Avista Public Acquisition Corp. II's official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	122,134,941.00	122,335,336.00	122,701,294.00	143,955,400.00	144,782,647.00	144,972,579.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	122,134,941.00	122,335,336.00	122,701,294.00	143,955,400.00	144,782,647.00	144,972,579.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-0.15	-0.13	-0.13	-0.10	-0.05	-0.04
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-86.36%	-77.53%	9.62%	-23.83%	124.06%	9.29%	-48.82%	-46.33%	-22.47%	247.30%	244.24%
EBITDA Growth	-224.54%	-302.61%	31.58%	7.12%	50.26%	21.33%	-10.92%	9.69%	2.09%	94.86%	78.09%
EBIT Growth	-334.32%	-166.80%	16.12%	2.63%	25.12%	16.45%	0.75%	8.21%	0.67%	58.86%	58.96%
NOPAT Growth	-331.77%	-166.80%	16.15%	2.71%	25.12%	16.45%	0.53%	8.22%	0.72%	58.45%	59.08%
Net Income Growth	-306.06%	-210.84%	7.45%	-4.03%	7.01%	4.01%	-16.46%	-0.93%	-8.50%	57.65%	63.09%
EPS Growth	-255.56%	-216.67%	13.33%	0.00%	7.14%	10.53%	-15.38%	12.50%	15.38%	64.71%	66.67%
Operating Cash Flow Growth	-27.69%	-161.51%	-21.55%	-6.13%	57.55%	6.81%	57.76%	-48.42%	-46.54%	69.04%	152.06%
Free Cash Flow Firm Growth	0.00%	51.75%	73.44%	66.80%	-155.36%	57.26%	155.74%	130.43%	179.68%	276.90%	48.85%
Invested Capital Growth	-10.59%	0.64%	0.58%	0.22%	-1.15%	-2.26%	-7.19%	-6.75%	-7.09%	-7.49%	-6.41%
Revenue Q/Q Growth	-11.96%	-21.17%	100.32%	-45.21%	158.96%	-61.55%	-6.19%	-42.55%	274.10%	72.24%	-7.01%
EBITDA Q/Q Growth	-4.73%	-6.82%	41.90%	-42.88%	43.91%	-68.99%	18.08%	-16.34%	39.20%	91.13%	-249.12%
EBIT Q/Q Growth	-4.43%	-6.35%	27.66%	-21.20%	19.68%	-18.67%	14.07%	-12.08%	13.10%	50.85%	14.27%
NOPAT Q/Q Growth	-4.39%	-6.35%	27.70%	-21.21%	19.65%	-18.67%	13.93%	-11.84%	13.09%	50.34%	15.23%
Net Income Q/Q Growth	10.71%	-34.92%	28.11%	-20.12%	20.19%	-39.27%	12.77%	-4.09%	14.20%	45.65%	23.98%
EPS Q/Q Growth	12.50%	-35.71%	31.58%	-23.08%	18.75%	-30.77%	11.76%	6.67%	21.43%	45.45%	16.67%
Operating Cash Flow Q/Q Growth	-47.16%	-86.73%	28.48%	46.00%	41.14%	-309.92%	67.58%	-89.72%	41.88%	13.39%	154.52%
Free Cash Flow Firm Q/Q Growth	134.33%	-216.97%	25.83%	-11.46%	42.75%	9.68%	196.73%	-39.16%	49.90%	100.52%	-18.61%
Invested Capital Q/Q Growth	-0.56%	1.48%	1.32%	-1.98%	-1.92%	0.34%	-3.79%	-1.52%	-2.28%	-0.08%	-2.67%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	99.93%	93.28%	98.70%	99.86%	99.90%	95.45%
EBITDA Margin	-353.84%	-479.51%	-139.09%	-362.68%	-78.55%	-345.19%	-301.41%	-610.32%	-99.19%	-5.11%	-19.18%
Operating Margin	-439.78%	-593.34%	-214.15%	-473.73%	-146.98%	-453.64%	-416.19%	-810.18%	-188.23%	-54.27%	-49.47%
EBIT Margin	-439.78%	-593.34%	-214.26%	-473.92%	-146.98%	-453.61%	-415.50%	-810.54%	-188.29%	-53.73%	-49.54%
Profit (Net Income) Margin	-291.44%	-498.84%	-179.03%	-392.45%	-120.96%	-438.13%	-407.36%	-738.05%	-169.28%	-53.42%	-43.68%
Tax Burden Percent	70.17%	87.87%	87.78%	85.81%	85.84%	99.42%	100.76%	93.44%	97.48%	106.08%	94.32%
Interest Burden Percent	94.45%	95.68%	95.19%	96.51%	95.86%	97.15%	97.31%	97.45%	92.23%	93.72%	93.47%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-39.56%	-34.43%	-12.65%	-26.79%	-10.88%	-33.72%	-26.97%	-48.95%	-10.28%	-4.59%	-5.74%
ROIC Less NNEP Spread (ROIC-NNEP)	-40.84%	-29.71%	-8.74%	-22.21%	-7.10%	-19.67%	-11.55%	-39.42%	-2.01%	3.24%	-1.61%
Return on Net Nonoperating Assets (RNNOA)	7.74%	6.22%	1.58%	4.00%	1.22%	2.44%	1.22%	5.57%	0.28%	-0.34%	0.18%
Return on Equity (ROE)	-31.83%	-28.21%	-11.07%	-22.79%	-9.67%	-31.29%	-25.75%	-43.38%	-10.00%	-4.93%	-5.56%
Cash Return on Invested Capital (CROIC)	-7.10%	-23.66%	-22.45%	-22.33%	-19.74%	-17.39%	-12.44%	-12.80%	-12.82%	-9.15%	-7.98%
Operating Return on Assets (OROA)	-37.73%	-32.62%	-12.53%	-26.75%	-11.07%	-36.83%	-30.23%	-53.33%	-11.22%	-5.18%	-6.50%
Return on Assets (ROA)	-25.00%	-27.43%	-10.47%	-22.15%	-9.11%	-35.58%	-29.64%	-48.56%	-10.09%	-5.15%	-5.73%
Return on Common Equity (ROCE)	-31.82%	-28.21%	-11.07%	-22.79%	-9.67%	-31.29%	-25.75%	-43.38%	-10.00%	-4.93%	-5.56%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-21.06%	-21.21%	-21.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-15	-16	-11	-14	-11	-13	-11	-13	-11	-5.48	-4.65
NOPAT Margin	-307.84%	-415.34%	-149.90%	-331.61%	-102.89%	-317.54%	-291.33%	-567.13%	-131.76%	-37.99%	-34.63%
Net Nonoperating Expense Percent (NNEP)	1.27%	-4.72%	-3.91%	-4.58%	-3.79%	-14.06%	-15.41%	-9.53%	-8.27%	-7.82%	-4.14%
Return On Investment Capital (ROIC_SIMPLE)	-4.39%	-	-	-	-3.61%	-4.51%	-4.04%	-4.30%	-3.88%	-1.96%	-1.68%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	6.72%	1.30%	0.14%	0.10%	4.55%
SG&A Expenses to Revenue	163.19%	219.34%	104.61%	169.68%	68.12%	190.54%	197.18%	302.68%	81.65%	45.88%	49.59%
R&D to Revenue	306.22%	382.82%	183.02%	319.22%	123.16%	303.37%	278.78%	463.56%	166.06%	66.82%	71.46%
Operating Expenses to Revenue	539.78%	693.34%	314.15%	573.73%	246.98%	553.56%	509.47%	908.89%	288.09%	154.16%	144.93%
Earnings before Interest and Taxes (EBIT)	-21	-23	-16	-20	-16	-19	-16	-18	-16	-7.75	-6.65
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-17	-18	-11	-15	-8.49	-14	-12	-14	-8.31	-0.74	-2.57
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.28	2.11	1.50	1.71	1.49	1.07	0.81	0.71	1.00	0.87	1.37
Price to Tangible Book Value (P/TBV)	9.55	9.71	7.04	7.86	6.53	5.36	4.58	3.02	4.60	3.82	5.92
Price to Revenue (P/Rev)	20.99	30.16	20.31	24.49	16.23	10.96	9.24	9.31	14.27	7.85	9.27
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.60	2.31	1.57	1.82	1.57	1.08	0.79	0.66	1.00	0.85	1.43
Enterprise Value to Revenue (EV/Rev)	19.13	27.94	18.65	22.59	14.73	10.04	8.26	7.34	12.31	6.74	8.33
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	278.48	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.06	0.07	0.06	0.06
Long-Term Debt to Equity	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.06	0.06	0.06	0.06
Financial Leverage	-0.19	-0.21	-0.18	-0.18	-0.17	-0.12	-0.11	-0.14	-0.14	-0.11	-0.11
Leverage Ratio	1.21	1.19	1.18	1.17	1.16	1.15	1.14	1.13	1.13	1.12	1.12
Compound Leverage Factor	1.15	1.14	1.13	1.13	1.12	1.11	1.11	1.10	1.04	1.05	1.05
Debt to Total Capital	6.92%	6.89%	6.69%	6.60%	6.48%	6.50%	6.78%	6.07%	6.15%	5.99%	5.75%
Short-Term Debt to Total Capital	0.39%	0.28%	0.10%	0.16%	0.17%	0.12%	0.40%	0.24%	0.37%	0.36%	0.34%
Long-Term Debt to Total Capital	6.53%	6.62%	6.59%	6.43%	6.30%	6.38%	6.38%	5.83%	5.78%	5.63%	5.41%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	93.08%	93.11%	93.30%	93.40%	93.52%	93.49%	93.22%	93.93%	93.84%	94.01%	94.24%
Debt to EBITDA	-0.44	-0.33	-0.34	-0.34	-0.38	-0.39	-0.38	-0.37	-0.36	-0.49	-0.63
Net Debt to EBITDA	1.19	0.70	0.58	0.64	0.75	0.51	0.45	0.86	0.76	0.94	1.43
Long-Term Debt to EBITDA	-0.41	-0.32	-0.33	-0.33	-0.37	-0.38	-0.36	-0.36	-0.34	-0.46	-0.59
Debt to NOPAT	-0.48	-0.38	-0.38	-0.37	-0.38	-0.38	-0.39	-0.37	-0.36	-0.41	-0.47
Net Debt to NOPAT	1.31	0.80	0.64	0.69	0.76	0.50	0.46	0.86	0.76	0.80	1.07
Long-Term Debt to NOPAT	-0.45	-0.37	-0.37	-0.36	-0.37	-0.38	-0.36	-0.36	-0.34	-0.39	-0.44
Altman Z-Score	7.08	7.26	5.94	7.21	6.45	4.89	3.20	3.05	4.03	3.79	6.54
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.11	4.38	4.76	4.63	4.52	4.70	3.77	5.00	4.02	4.80	4.80
Quick Ratio	3.93	4.17	4.53	4.37	4.29	4.39	3.51	4.71	3.78	4.55	4.53
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	15	-17	-13	-14	-8.23	-7.44	7.19	4.38	6.56	13	11
Operating Cash Flow to CapEx	-8,524.30%	-1,839.31%	-1,622.10%	-4,327.63%	-8,417.39%	-7,594.26%	-3,118.79%	-5,364.29%	-63,044.44%	-2,942.52%	2,435.45%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.09	0.06	0.06	0.06	0.08	0.08	0.07	0.07	0.06	0.10	0.13
Accounts Receivable Turnover	2.00	7.18	2.80	4.24	5.79	5.08	4.81	6.40	2.95	3.03	5.90
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	1.79	1.13	1.19	1.17	1.56	1.64	1.47	1.42	1.50	2.44	3.41
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.11	0.14	0.15	0.18	0.33
Days Sales Outstanding (DSO)	182.34	50.85	130.16	86.13	63.04	71.81	75.94	57.02	123.80	120.56	61.85
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	333,914.17	3,333.76	2,568.17	2,515.25	2,077.02	1,118.95
Cash Conversion Cycle (CCC)	182.34	50.85	130.16	86.13	63.04	-333,842.36	-3,257.82	-2,511.16	-2,391.45	-1,956.47	-1,057.09
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	251	255	258	253	248	249	240	236	231	230	224
Invested Capital Turnover	0.13	0.08	0.08	0.08	0.11	0.11	0.09	0.09	0.08	0.12	0.17
Increase / (Decrease) in Invested Capital	-30	1.61	1.49	0.55	-2.88	-5.76	-19	-17	-18	-19	-15
Enterprise Value (EV)	654	588	405	461	389	269	190	155	230	195	321
Market Capitalization	717	635	441	500	428	293	213	196	266	227	357
Book Value per Share	$2.71	$2.57	$2.50	$2.47	$2.38	$2.24	$2.14	$2.26	$1.85	$1.81	$1.80
Tangible Book Value per Share	$0.65	$0.56	$0.53	$0.54	$0.54	$0.45	$0.38	$0.53	$0.40	$0.41	$0.42
Total Capital	338	324	315	312	308	293	281	295	285	279	276
Total Debt	23	22	21	21	20	19	19	18	17	17	16
Total Long-Term Debt	22	21	21	20	19	19	18	17	16	16	15
Net Debt	-64	-47	-36	-39	-40	-25	-23	-42	-37	-32	-36
Capital Expenditures (CapEx)	0.11	0.93	0.75	0.15	0.05	0.21	0.17	0.18	0.01	0.17	0.11
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-14	-8.92	-3.75	-6.66	-5.85	-1.07	-5.51	-5.71	-3.89	3.49	1.20
Debt-free Net Working Capital (DFNWC)	73	60	53	53	54	43	36	54	50	53	53
Net Working Capital (NWC)	72	59	53	52	53	42	35	53	49	52	52
Net Nonoperating Expense (NNE)	-0.79	3.17	2.22	2.54	1.95	5.01	4.52	3.83	3.14	2.23	1.21
Net Nonoperating Obligations (NNO)	-64	-47	-36	-39	-40	-25	-23	-42	-37	-32	-36
Total Depreciation and Amortization (D&A)	4.14	4.33	5.72	4.64	7.39	4.50	4.45	4.48	7.46	7.02	4.07
Debt-free, Cash-free Net Working Capital to Revenue	-40.67%	-42.38%	-17.27%	-32.65%	-22.18%	-4.00%	-23.94%	-27.06%	-20.86%	12.06%	3.12%
Debt-free Net Working Capital to Revenue	213.93%	285.51%	246.27%	258.30%	203.03%	159.00%	156.79%	255.01%	268.57%	181.63%	138.32%
Net Working Capital to Revenue	210.12%	281.27%	244.76%	255.80%	201.02%	157.68%	151.91%	251.60%	262.98%	178.16%	135.88%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.14)	($0.19)	($0.13)	($0.16)	($0.13)	($0.17)	($0.15)	($0.14)	($0.11)	($0.06)	($0.05)
Adjusted Weighted Average Basic Shares Outstanding	99.68M	100.76M	101.46M	102.39M	102.37M	105.62M	106.15M	114.73M	113.64M	128.25M	128.80M
Adjusted Diluted Earnings per Share	($0.14)	($0.19)	($0.13)	($0.16)	($0.13)	($0.17)	($0.15)	($0.14)	($0.11)	($0.06)	($0.05)
Adjusted Weighted Average Diluted Shares Outstanding	99.68M	100.76M	101.46M	102.39M	102.37M	105.62M	106.15M	114.73M	113.64M	128.25M	128.80M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	117.13M	117.62M	118.16M	121.01M	122.13M	122.34M	122.70M	143.96M	144.78M	144.97M	145.39M
Normalized Net Operating Profit after Tax (NOPAT)	-15	-16	-11	-14	-11	-13	-11	-13	-11	-5.48	-4.65
Normalized NOPAT Margin	-307.84%	-415.34%	-149.90%	-331.61%	-102.89%	-317.54%	-291.33%	-567.13%	-131.76%	-37.99%	-34.63%
Pre Tax Income Margin	-415.35%	-567.69%	-203.95%	-457.36%	-140.90%	-440.68%	-404.31%	-789.91%	-173.66%	-50.36%	-46.31%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

OmniAb’s Q2 2026 results show meaningful improvement in revenue, operating losses and operating cash flow, although the company remains unprofitable and continues to rely heavily on its cash and investment portfolio.

Revenue growth accelerated: Q2 2026 revenue was $13.4 million, up from $3.9 million in the restated Q2 2025 period. Revenue also increased substantially from $2.2 million in Q3 2025 and $8.4 million in Q4 2025, although it declined 7% sequentially from $14.4 million in Q1 2026.
Gross margins remained very high: Gross profit was $12.8 million, representing approximately a 95.5% gross margin. The company’s cost of revenue was only $610,000 in the quarter.
Net losses narrowed significantly: Q2 2026 net loss was $5.9 million, compared with a $7.7 million loss in Q1 2026 and a $15.9 million loss in Q2 2025. Basic and diluted loss per share improved to $0.05 from $0.06 in Q1 and $0.15 in the year-ago quarter.
Operating losses improved: Operating loss narrowed to $6.6 million from $7.8 million in Q1 2026 and $16.2 million in Q2 2025. Selling, general and administrative expense declined modestly year over year, while research and development expense also fell slightly.
Operating cash flow turned positive: OmniAb generated $2.7 million of cash from operations in Q2 2026, compared with operating cash outflows of $4.9 million in Q1 2026 and $5.1 million in Q2 2025. This was a notable improvement, although it was helped by $1.3 million from changes in operating assets and liabilities and substantial noncash adjustments.
Liquidity remains strong relative to current obligations: Cash and short-term investments totaled approximately $52.0 million at June 30, 2026. Current assets of $66.0 million compared with current liabilities of $13.8 million, producing a current ratio of roughly 4.8.
Cash declined during the quarter: Cash and equivalents fell to $24.3 million from $29.0 million in Q1, while total cash and short-term investments declined modestly from $49.1 million to $52.0 million when considering the investment balance. The company’s $4.7 million net decrease in cash reflected negative investing cash flow of $7.6 million, partly offset by positive operating cash flow.
Investment activity is a major source of cash management: OmniAb purchased $23.6 million of investments and sold or received maturities of $16.1 million in Q2. Similar investment purchases and maturities have occurred in prior quarters, so changes in investing cash flow may reflect portfolio management rather than core business performance.
The company remains structurally unprofitable: OmniAb has reported net losses in every provided quarter since Q1 2023 except Q4 2022. Retained earnings were negative $179.7 million at June 30, 2026, highlighting the accumulated impact of ongoing losses.
Share dilution is a concern: Weighted average basic shares outstanding increased to 128.8 million in Q2 2026 from 106.1 million in the restated Q2 2025 period. The higher share count can reduce per-share returns for existing investors and may indicate continued reliance on equity-based compensation or equity issuance.
Asset concentration creates impairment risk: Goodwill and intangible assets totaled approximately $200.0 million, or about 69% of total assets. If expected future cash flows weaken, impairment charges could materially reduce reported equity and increase losses.
Cash generation has not yet proven durable: Although Q2 operating cash flow was positive, OmniAb generated operating cash outflows in Q3 and Q4 2025 and Q1 2026. Investors should determine whether the latest improvement reflects sustainable revenue growth or temporary working-capital movements.

Overall, the latest quarter points to improving commercial momentum and better cost control, but OmniAb still needs to convert revenue growth into consistent operating profitability and recurring cash generation. The company’s substantial liquidity provides time to execute its strategy, while persistent losses, dilution and the large goodwill and intangible-asset balance remain important risks.

10/05/26 02:50 PM ETAI Generated. May Contain Errors.

Avista Public Acquisition Corp. II Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Avista Public Acquisition Corp. II's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Avista Public Acquisition Corp. II's net income appears to be on a downward trend, with a most recent value of -$64.78 million in 2025, falling from -$27.04 million in 2021. The previous period was -$62.03 million in 2024.

Avista Public Acquisition Corp. II's total operating income in 2025 was -$68.97 million, based on the following breakdown:

Total Gross Profit: $18.36 million
Total Operating Expenses: $87.33 million

Over the last 4 years, Avista Public Acquisition Corp. II's total revenue changed from $34.75 million in 2021 to $18.67 million in 2025, a change of -46.3%.

In the past 13 quarters, Avista Public Acquisition Corp. II's cash and equivalents has ranged from $10.89 million in Q1 2025 to $29.05 million in Q1 2026, and is currently $24.34 million as of their latest financial filing in Q2 2026.

Avista Public Acquisition Corp. II had total debt of $17.50 million at the end of 2025, a 12.1% decrease from 2024, and a 10.7% increase since 2021.

Over the last 4 years, Avista Public Acquisition Corp. II's book value per share changed from 8.15 in 2021 to 1.85 in 2025, a change of -77.2%.

Financial statements for NASDAQ:AHPAW last updated on 8/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Avista Public Acquisition Corp. II (AHPAW) Financials

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Avista Public Acquisition Corp. II (AHPAW) Financials

Annual Income Statements for Avista Public Acquisition Corp. II

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Financials Breakdown Chart

Key Financial Trends

Avista Public Acquisition Corp. II Financials - Frequently Asked Questions

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