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FG Merger II (FGMC) Financials

FG Merger II logo
$13.76 +5.46 (+65.75%)
Closing price 07/17/2026
Extended Trading
$13.76 0.00 (0.00%)
As of 07/17/2026 08:00 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for FG Merger II

Annual Income Statements for FG Merger II

This table shows FG Merger 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		 -0.00 1.79 -16 -33 1.43
Consolidated Net Income / (Loss)		 -0.00 -6.08 -16 -31 1.43
Net Income / (Loss) Continuing Operations		 -0.00 -6.08 -16 -31 1.43
Total Pre-Tax Income 		-0.00 -6.08 -16 -31 2.06
Total Operating Income		 -0.00 -4.80 -10 -16 -0.97
Total Gross Profit		 0.00 5.74 6.12 8.25 0.00
Total Revenue		 0.00 7.99 8.15 11 0.00
Total Cost of Revenue		 0.00 2.24 2.03 2.50 0.00
Total Operating Expenses		 0.00 11 16 24 0.97
Selling, General & Admin Expense		 0.00 9.25 15 21 0.97
Total Other Income / (Expense), net		 0.00 -1.28 -5.28 -16 3.04
Interest & Investment Income		 - - - - 3.04
Income Tax Expense		 0.00 - - - 0.64
Basic Earnings per Share		 $0.00 ($1.37) - - $0.05
Weighted Average Basic Shares Outstanding		 0.00 5.77M 7.35M - 9.64M
Diluted Earnings per Share		 $0.00 ($1.37) ($43.32) ($45.78) $0.03
Weighted Average Diluted Shares Outstanding		 0.00 5.77M 367.48K 725.18K 10.41M
Weighted Average Basic & Diluted Shares Outstanding		 - 5.77M 7.35M - 10.30M

Quarterly Income Statements for FG Merger II

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Income / (Loss) Attributable to Common Shareholders		 -3.91 -9.30 0.11 -11 -6.66 -15 0.32 0.58 0.08 0.45 0.29
Consolidated Net Income / (Loss)		 -3.69 -7.46 -4.72 -11 -5.99 -9.55 0.32 0.58 0.08 0.45 0.29
Net Income / (Loss) Continuing Operations		 -3.69 -7.46 -4.61 -11 -5.99 -9.66 0.32 0.58 0.08 0.45 0.29
Total Pre-Tax Income 		-3.69 -7.46 -4.67 -11 -5.99 -9.60 0.43 0.76 0.26 0.62 0.45
Total Operating Income		 -2.42 -4.39 -3.04 -7.49 -2.20 -2.78 -0.13 -0.08 -0.59 -0.17 -0.27
Total Gross Profit		 1.49 1.91 2.21 2.48 1.96 1.60 0.00 0.00 0.00 - 0.00
Total Revenue		 2.00 2.45 2.72 3.09 2.79 2.15 0.00 0.00 0.00 - 0.00
Total Cost of Revenue		 0.52 0.54 0.51 0.61 0.83 0.55 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 3.91 6.31 5.25 9.97 4.16 4.37 0.13 0.08 0.59 0.17 0.27
Selling, General & Admin Expense		 3.59 5.93 4.52 9.19 3.35 3.69 0.13 0.08 0.59 0.17 0.27
Total Other Income / (Expense), net		 -1.27 -3.07 -1.68 -3.41 -3.79 -6.77 0.56 0.84 0.85 0.79 0.72
Interest & Investment Income		 - - - - - - 0.56 0.84 0.85 0.79 0.72
Income Tax Expense		 - - -0.05 - - - 0.12 0.18 0.18 0.17 0.16
Basic Earnings per Share		 - ($1.27) ($0.51) - - - ($0.06) $0.08 $0.00 $0.04 $0.01
Weighted Average Basic Shares Outstanding		 7.26M 7.35M 10.24M 10.40M 24.32M 0.00 7.65M 10.30M 10.30M 9.64M 10.30M
Diluted Earnings per Share		 - ($1.27) ($0.51) - - - ($0.07) $0.07 $0.00 $0.04 $0.00
Weighted Average Diluted Shares Outstanding		 7.26M 367.48K 10.24M 10.40M 24.32M 725.18K 8.21M 11.13M 11.13M 10.41M 11.13M
Weighted Average Basic & Diluted Shares Outstanding		 7.26M 7.35M 10.10M 10.27M 10.90M 0.00 10.30M 10.30M 10.30M 10.30M 10.30M

Annual Cash Flow Statements for FG Merger II

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

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 0.12 -0.53 -0.58 0.44
Net Cash From Operating Activities		 -1.27 -8.82 -3.23 1.48
Net Cash From Continuing Operating Activities		 -1.27 -10 -2.79 1.48
Net Income / (Loss) Continuing Operations		 -6.08 -16 -33 1.43
Consolidated Net Income / (Loss)		 -6.08 -16 -33 1.43
Changes in Operating Assets and Liabilities, net		 0.51 0.48 5.05 0.06
Net Cash From Investing Activities		 -0.29 -10 -0.54 -82
Net Cash From Continuing Investing Activities		 -0.29 -10 -0.54 -82
Other Investing Activities, net		 -0.00 -1.56 0.00 -82
Net Cash From Financing Activities		 1.69 20 2.75 81
Net Cash From Continuing Financing Activities		 1.69 20 2.75 81
Repayment of Debt		 -2.32 -1.24 -1.32 -0.55
Issuance of Debt		 3.59 7.80 3.66 0.42
Issuance of Common Equity		 0.45 2.88 0.30 81
Other Financing Activities, net		 0.02 -7.69 0.11 0.00

Quarterly Cash Flow Statements for FG Merger II

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Change in Cash & Equivalents		 19 -20 -3.54 2.57 -0.03 0.43 0.50 -0.03 0.06 -0.09 -0.24
Net Cash From Operating Activities		 0.16 -7.06 -0.99 -0.02 -0.25 -1.97 0.22 0.79 0.28 0.19 0.48
Net Cash From Continuing Operating Activities		 0.19 -8.64 -2.37 1.36 -0.25 -1.54 0.22 0.79 0.28 0.19 0.48
Net Income / (Loss) Continuing Operations		 -3.69 -7.83 -5.17 -10 -5.99 -12 0.32 0.58 0.08 0.45 0.29
Consolidated Net Income / (Loss)		 -3.69 -7.83 -5.17 -10 -5.99 -12 0.32 0.58 0.08 0.45 0.29
Non-Cash Adjustments To Reconcile Net Income		 1.86 0.24 1.34 9.11 4.53 7.37 -0.02 - - - 0.00
Changes in Operating Assets and Liabilities, net		 1.69 -1.43 0.73 1.92 0.40 2.00 -0.07 0.20 0.21 -0.28 0.19
Net Cash From Investing Activities		 -9.48 -0.23 -1.20 -0.13 -0.57 1.36 -81 -0.53 -0.22 -0.29 -0.72
Net Cash From Continuing Investing Activities		 9.23 -19 -1.20 -0.13 -0.57 1.36 -81 -0.53 -0.22 -0.29 -0.72
Other Investing Activities, net		 - -11 - - - - -81 -0.53 - - -0.72
Net Cash From Financing Activities		 9.71 8.05 1.11 0.26 0.78 0.60 81 -0.29 - - 0.00
Net Cash From Continuing Financing Activities		 9.97 7.79 0.03 1.34 0.78 0.60 81 -0.29 - - 0.00
Repayment of Debt		 -5.30 5.25 -0.31 -1.13 -0.02 0.14 -0.26 -0.29 - - 0.00
Issuance of Debt		 1.47 4.06 1.42 1.39 0.80 0.05 0.42 - - - 0.00
Issuance of Common Equity		 - 2.34 0.00 - - 0.30 81 - - - 0.00
Other Financing Activities, net		 -4.51 -3.87 -1.08 1.08 - 0.11 0.00 - - - 0.00

Annual Balance Sheets for FG Merger II

This table presents FG Merger 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		 0.00 6.56 16 5.69 83
Total Current Assets		 0.00 1.09 3.51 1.18 0.58
Cash & Equivalents		 0.00 0.20 1.22 0.20 0.49
Prepaid Expenses		 0.00 0.48 1.73 0.17 0.10
Plant, Property, & Equipment, net		 0.00 0.07 0.20 0.17 0.00
Total Noncurrent Assets		 0.00 5.39 12 4.20 82
Other Noncurrent Operating Assets		 0.00 0.94 6.61 0.87 82
Total Liabilities & Shareholders' Equity		 0.00 6.56 16 5.69 83
Total Liabilities		 0.00 9.06 11 15 0.19
Total Current Liabilities		 0.00 6.80 8.88 12 0.19
Short-Term Debt		 - 4.03 4.72 5.35 0.00
Accounts Payable		 0.00 2.34 3.24 4.77 0.06
Current Deferred & Payable Income Tax Liabilities		 0.00 - - - 0.14
Total Noncurrent Liabilities		 0.00 2.26 2.37 2.92 0.00
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 0.00 - - - 82
Total Equity & Noncontrolling Interests		 -0.00 -2.50 4.44 -9.79 0.39
Total Preferred & Common Equity		 -0.00 -2.50 4.44 -9.79 0.39
Preferred Stock		 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -0.00 -2.50 4.44 -9.80 0.39
Common Stock		 0.00 80 119 138 0.00
Retained Earnings		 -0.00 -83 -115 -148 0.39

Quarterly Balance Sheets for FG Merger II

This table presents FG Merger 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 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 16 21 17 14 82 82 83 83
Total Current Assets		 2.02 1.37 1.44 1.45 0.73 0.67 0.70 0.32
Cash & Equivalents		 0.46 0.14 0.25 0.21 0.55 0.52 0.58 0.24
Prepaid Expenses		 0.96 0.72 0.49 0.44 0.18 0.15 0.12 0.08
Plant, Property, & Equipment, net		 0.20 0.19 0.18 0.18 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 3.45 19 16 13 81 82 82 83
Other Noncurrent Operating Assets		 1.18 14 11 7.39 81 82 82 83
Total Liabilities & Shareholders' Equity		 16 21 17 14 82 82 83 83
Total Liabilities		 9.89 14 17 17 0.41 0.30 0.48 0.36
Total Current Liabilities		 9.00 12 13 13 0.41 0.30 0.48 0.36
Short-Term Debt		 3.70 6.39 6.54 6.95 0.29 0.00 0.00 0.00
Accounts Payable		 4.95 4.89 5.74 5.09 0.01 0.00 0.00 0.06
Current Deferred & Payable Income Tax Liabilities		 - - - - 0.12 0.29 0.47 0.30
Total Noncurrent Liabilities		 1.00 2.08 4.08 4.12 0.00 0.00 0.00 0.00
Commitments & Contingencies		 - - - - 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - - - - 81 82 82 83
Total Equity & Noncontrolling Interests		 6.40 6.18 0.41 -3.02 0.32 0.37 0.22 -0.04
Total Preferred & Common Equity		 6.40 6.18 0.41 -3.02 0.32 0.37 0.22 -0.04
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 6.40 6.18 0.41 -3.02 0.32 0.37 0.22 -0.04
Common Stock		 114 126 132 135 0.03 0.00 0.00 0.00
Retained Earnings		 -107 -120 -132 -138 0.29 0.37 0.22 -0.05

Annual Metrics And Ratios for FG Merger II

This table displays calculated financial ratios and metrics derived from FG Merger 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		 0.00 10,157,750.00 8,951,472.00 24,323,510.00 10,295,800.00
DEI Adjusted Shares Outstanding		 0.00 507,888.00 447,574.00 1,216,176.00 10,295,800.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 3.53 -35.57 -27.30 0.14
Growth Metrics		 - - - - -
Revenue Growth		 0.00% 0.00% 2.05% 31.83% 0.00%
EBITDA Growth		 0.00% -198,341.40% -232.21% -109.53% -3,660.78%
EBIT Growth		 0.00% -270,044.23% -170.22% -112.05% -3,660.78%
NOPAT Growth		 0.00% -266,387.57% -114.00% -50.89% -3,613.08%
Net Income Growth		 0.00% -337,293.12% -155.79% -100.34% 5,620.23%
EPS Growth		 0.00% 0.00% -155.79% -5.68% 0.00%
Operating Cash Flow Growth		 0.00% 0.00% -593.24% 63.39% 14,998.68%
Free Cash Flow Firm Growth		 0.00% 0.00% -123.90% 108.54% 0.00%
Invested Capital Growth		 0.00% 85,261.03% 236.10% -128.46% 107,728.97%
Revenue Q/Q Growth		 0.00% 0.00% -30.92% -2.74% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% -38.02% -11.14% -21.03%
EBIT Q/Q Growth		 0.00% 0.00% -34.24% -11.17% -21.03%
NOPAT Q/Q Growth		 0.00% 0.00% -10.27% 9.44% 16.35%
Net Income Q/Q Growth		 0.00% 0.00% -23.63% -7.17% 46.45%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 250.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% -549.25% 61.18% 0.00%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 105.84% 0.00%
Invested Capital Q/Q Growth		 0.00% 0.00% 1,051.82% -137.12% 0.67%
Profitability Metrics		 - - - - -
Gross Margin		 0.00% 71.92% 75.11% 76.77% 0.00%
EBITDA Margin		 0.00% -44.77% -145.73% -231.62% 0.00%
Operating Margin		 0.00% -60.12% -126.07% -144.30% 0.00%
EBIT Margin		 0.00% -60.94% -161.37% -259.56% 0.00%
Profit (Net Income) Margin		 0.00% -76.11% -190.78% -289.93% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 69.11%
Interest Burden Percent		 100.00% 124.89% 118.22% 111.70% -212.39%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 30.89%
Return on Invested Capital (ROIC)		 0.00% -241.55% -118.40% -324.04% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -344.37% -282.13% -660.99% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 727.01% -1,482.67% 1,488.61% 0.00%
Return on Equity (ROE)		 55.07% 485.46% -1,601.07% 1,164.57% 3.46%
Cash Return on Invested Capital (CROIC)		 0.00% -220.75% -226.67% 0.00% -201.27%
Operating Return on Assets (OROA)		 0.00% -148.50% -118.28% -260.96% 0.00%
Return on Assets (ROA)		 0.00% -185.47% -139.84% -291.49% 0.00%
Return on Common Equity (ROCE)		 55.07% 485.46% -1,600.76% 1,164.67% 0.02%
Return on Equity Simple (ROE_SIMPLE)		 55.07% 243.05% -349.93% 318.09% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.00 -3.36 -7.19 -11 -0.67
NOPAT Margin		 0.00% -42.08% -88.25% -101.01% 0.00%
Net Nonoperating Expense Percent (NNEP)		 0.00% 102.81% 163.74% 336.95% 1,028.39%
Return On Investment Capital (ROIC_SIMPLE)		 - - -67.96% 440.61% -172.49%
Cost of Revenue to Revenue		 0.00% 28.08% 24.89% 23.23% 0.00%
SG&A Expenses to Revenue		 0.00% 115.86% 185.54% 193.13% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 132.03% 201.18% 221.07% 0.00%
Earnings before Interest and Taxes (EBIT)		 -0.00 -4.87 -13 -28 -0.97
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.00 -3.58 -12 -25 -0.97
Valuation Ratios		 - - - - -
Price to Book Value (P/BV)		 0.00 0.00 2.50 0.00 268.27
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 268.27
Price to Revenue (P/Rev)		 0.00 12.96 1.36 0.28 0.00
Price to Earnings (P/E)		 0.00 57.67 0.00 0.00 73.21
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 1.73% 0.00% 0.00% 1.37%
Enterprise Value to Invested Capital (EV/IC)		 0.00 39.04 1.71 0.00 2.27
Enterprise Value to Revenue (EV/Rev)		 0.00 13.62 1.97 0.95 0.00
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 0.00 0.00 125.39
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 8.64 0.00
Leverage & Solvency		 - - - - -
Debt to Equity		 0.00 -2.19 1.38 -0.75 0.00
Long-Term Debt to Equity		 0.00 -0.58 0.32 -0.20 0.00
Financial Leverage		 0.00 -2.11 5.26 -2.25 0.00
Leverage Ratio		 0.00 -2.62 11.45 -4.00 1.00
Compound Leverage Factor		 0.00 -3.27 13.54 -4.46 -2.13
Debt to Total Capital		 0.00% 183.87% 58.01% -297.59% 0.00%
Short-Term Debt to Total Capital		 0.00% 135.28% 44.60% -217.29% 0.00%
Long-Term Debt to Total Capital		 0.00% 48.59% 13.42% -80.31% 0.00%
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% 99.53%
Common Equity to Total Capital		 100.00% -83.87% 41.98% 397.59% 0.47%
Debt to EBITDA		 0.00 -1.53 -0.52 -0.29 0.00
Net Debt to EBITDA		 0.00 -1.48 -0.41 -0.29 0.00
Long-Term Debt to EBITDA		 0.00 -0.41 -0.12 -0.08 0.00
Debt to NOPAT		 0.00 -1.63 -0.85 -0.68 0.00
Net Debt to NOPAT		 0.00 -1.57 -0.68 -0.66 0.00
Long-Term Debt to NOPAT		 0.00 -0.43 -0.20 -0.18 0.00
Altman Z-Score		 0.00 -13.11 -12.33 -53.01 321.57
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.02% -0.01% 99.53%
Liquidity Ratios		 - - - - -
Current Ratio		 0.00 0.16 0.40 0.10 3.00
Quick Ratio		 0.00 0.09 0.20 0.08 2.50
Cash Flow Metrics		 - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -6.15 -14 1.18 -83
Operating Cash Flow to CapEx		 0.00% -439.25% -5,519.82% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 -5.08 -5.75 0.36 0.00
Operating Cash Flow to Interest Expense		 0.00 -1.05 -3.68 -0.99 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -1.29 -3.75 -0.99 0.00
Efficiency Ratios		 - - - - -
Asset Turnover		 0.00 2.44 0.73 1.01 0.00
Accounts Receivable Turnover		 0.00 0.00 16.66 15.60 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 58.94 57.16 0.00
Accounts Payable Turnover		 0.00 1.92 0.73 0.62 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 21.91 23.40 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 190.33 501.82 585.79 0.00
Cash Conversion Cycle (CCC)		 0.00 -190.33 -479.91 -562.39 0.00
Capital & Investment Metrics		 - - - - -
Invested Capital		 -0.00 2.79 9.37 -2.67 82
Invested Capital Turnover		 0.00 5.74 1.34 3.21 0.00
Increase / (Decrease) in Invested Capital		 0.00 2.79 6.58 -12 82
Enterprise Value (EV)		 70 109 16 10 186
Market Capitalization		 70 104 11 3.04 104
Book Value per Share		 $0.00 ($0.25) $0.50 ($0.40) $0.04
Tangible Book Value per Share		 $0.00 ($0.68) ($0.10) ($0.54) $0.04
Total Capital		 -0.00 2.98 11 -2.46 83
Total Debt		 0.00 5.48 6.14 7.33 0.00
Total Long-Term Debt		 0.00 1.45 1.42 1.98 0.00
Net Debt		 0.00 5.29 4.92 7.13 -0.49
Capital Expenditures (CapEx)		 0.00 0.29 0.16 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.00 -1.87 -1.87 -6.10 -0.10
Debt-free Net Working Capital (DFNWC)		 -0.00 -1.67 -0.65 -5.90 0.39
Net Working Capital (NWC)		 -0.00 -5.71 -5.37 -11 0.39
Net Nonoperating Expense (NNE)		 0.00 2.72 8.36 20 -2.10
Net Nonoperating Obligations (NNO)		 0.00 5.29 4.92 7.13 -0.49
Total Depreciation and Amortization (D&A)		 0.00 1.29 1.27 3.00 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -23.39% -22.90% -56.77% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% -20.94% -7.94% -54.89% 0.00%
Net Working Capital to Revenue		 0.00% -71.45% -65.85% -104.70% 0.00%
Earnings Adjustments		 - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($0.34) ($43.40) $0.00 $0.05
Adjusted Weighted Average Basic Shares Outstanding		 0.00 8.79M 367.48K 0.00 9.64M
Adjusted Diluted Earnings per Share		 $0.00 ($0.34) ($43.40) ($45.78) $0.03
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 8.79M 367.48K 725.18K 10.41M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 ($43.40) $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 10.16M 367.48K 0.00 10.30M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.00 -3.36 -7.19 -11 -0.67
Normalized NOPAT Margin		 0.00% -42.08% -88.25% -101.01% 0.00%
Pre Tax Income Margin		 0.00% -76.11% -190.78% -289.93% 0.00%
Debt Service Ratios		 - - - - -
EBIT to Interest Expense		 0.00 -4.02 -5.49 -8.55 0.00
NOPAT to Interest Expense		 0.00 -2.77 -3.00 -3.33 0.00
EBIT Less CapEx to Interest Expense		 0.00 -4.26 -5.55 -8.55 0.00
NOPAT Less CapEx to Interest Expense		 0.00 -3.01 -3.07 -3.33 0.00
Payout Ratios		 - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% -0.74% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for FG Merger II

This table displays calculated financial ratios and metrics derived from FG Merger II's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
DEI Shares Outstanding		 10,157,750.00 8,951,472.00 8,951,472.00 10,240,398.00 10,404,336.00 24,323,510.00 10,295,800.00 10,295,800.00 10,295,800.00 10,295,800.00 10,295,800.00
DEI Adjusted Shares Outstanding		 507,888.00 447,574.00 447,574.00 512,020.00 520,217.00 1,216,176.00 10,295,800.00 10,295,800.00 10,295,800.00 10,295,800.00 10,295,800.00
DEI Earnings Per Adjusted Shares Outstanding		 -7.70 -20.78 0.24 -22.15 -12.80 -12.59 0.03 0.06 0.01 0.04 0.03
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 6.15% -59.83% 47.98% 66.36% 39.06% -12.37% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 -185.32% -101.66% -126.64% -408.46% -71.62% -38.42% -9,680.72% -9,339.44% -2,432.12% -63,738.87% -115.44%
EBIT Growth		 -142.83% -95.57% -132.40% -375.01% -80.65% -40.81% -9,680.72% -9,339.44% -2,432.12% -63,738.87% -115.44%
NOPAT Growth		 -127.06% -27.86% -125.17% -255.11% 9.19% 36.81% -10,078.39% -10,241.37% -994.67% -66,700.22% -89.57%
Net Income Growth		 -163.33% -66.18% -179.63% -302.40% -62.27% -27.93% 24,413.80% 65,866.67% 430.17% 170,789.06% -8.75%
EPS Growth		 0.00% -66.18% -96.15% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 100.00%
Operating Cash Flow Growth		 112.82% -1,853.93% 14.08% 97.60% -258.84% 72.08% 0.00% 0.00% 0.00% 0.00% 115.85%
Free Cash Flow Firm Growth		 0.00% 0.00% 4,609.26% 2,361.37% -111.77% 204.48% 0.00% 0.00% 0.00% 0.00% 98.04%
Invested Capital Growth		 -101.18% 236.10% -83.66% -88.20% 829.93% -128.46% 0.00% 0.00% 0.00% 107,728.97% 1.75%
Revenue Q/Q Growth		 8.01% 22.21% 11.15% 13.39% -9.71% -22.98% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 -39.87% -157.40% 62.92% -280.87% 52.79% -107.61% -47,770.19% 34.15% -609.36% 71.45% -61.55%
EBIT Q/Q Growth		 -35.69% -141.55% 54.27% -216.91% 48.40% -88.28% -47,770.19% 34.15% -609.36% 71.45% -61.55%
NOPAT Q/Q Growth		 -14.92% -81.33% 30.76% -146.13% 70.61% -26.19% -49,716.50% 30.67% -179.92% 30.90% -41.38%
Net Income Q/Q Growth		 -36.35% -102.16% 36.72% -130.69% 45.02% -59.37% 119,100.00% 84.57% -86.72% 485.39% -36.38%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 187.50% -100.00% 0.00% -100.00%
Operating Cash Flow Q/Q Growth		 120.55% -4,579.37% 85.98% 98.14% -1,257.12% -687.26% 0.00% 254.19% -64.02% -31.05% 145.64%
Free Cash Flow Firm Q/Q Growth		 2,793.20% -111.70% 800.48% 2.41% -114.01% 203.93% 0.00% -0.37% -0.16% -0.51% 98.06%
Invested Capital Q/Q Growth		 -101.16% 1,051.82% 45.47% -26.86% -27.92% -137.12% 106,561.28% 0.40% 0.02% 0.67% 0.65%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 74.17% 78.13% 81.16% 80.36% 70.34% 74.40% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 -125.80% -264.95% -88.39% -296.92% -155.25% -418.52% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 -120.86% -179.33% -111.71% -242.49% -78.92% -129.31% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 -141.78% -280.22% -115.29% -322.24% -184.18% -450.26% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 -184.14% -304.60% -173.42% -352.84% -214.88% -444.65% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 101.16% 100.00% 100.00% 99.44% 72.85% 76.69% 30.26% 73.25% 64.10%
Interest Burden Percent		 129.88% 108.70% 148.70% 109.50% 116.67% 99.31% -341.25% -908.51% -43.09% -365.03% -164.26%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 27.15% 23.31% 69.74% 26.75% 35.90%
Return on Invested Capital (ROIC)		 -24.29% -168.41% -14.57% -36.91% -196.97% -290.38% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 24.62% -254.36% -86.44% -145.72% -513.24% -416.58% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 -2.22% -1,336.74% -6.95% -18.02% -426.87% 938.18% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -26.51% -1,505.15% -21.51% -54.93% -623.84% 647.80% 0.36% 1.07% 1.19% 3.46% 1.70%
Cash Return on Invested Capital (CROIC)		 0.00% -226.67% 126.55% 132.08% -280.60% 0.00% 0.00% 0.00% 0.00% -201.27% -2.65%
Operating Return on Assets (OROA)		 -33.31% -205.39% -19.81% -64.04% -132.90% -452.69% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 -43.27% -223.26% -29.81% -70.12% -155.05% -447.05% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -2.16% -1,504.86% -1.34% 1.12% -623.69% 647.86% 0.00% 0.00% 0.00% 0.02% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 -196.42% 0.00% -300.84% 0.00% 962.46% 0.00% 0.00% 237.27% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -1.70 -3.08 -2.13 -5.24 -1.54 -1.94 -0.09 -0.06 -0.18 -0.12 -0.18
NOPAT Margin		 -84.60% -125.53% -78.19% -169.74% -55.25% -90.52% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -48.91% 85.95% 71.87% 108.81% 316.27% 126.20% 309.27% 249.55% 88.67% 282.34% 182.65%
Return On Investment Capital (ROIC_SIMPLE)		 - -29.06% - - - 78.89% -15.32% -17.40% -80.09% -31.81% 389.88%
Cost of Revenue to Revenue		 25.83% 21.87% 18.84% 19.65% 29.66% 25.60% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 179.05% 242.19% 165.97% 297.52% 120.33% 171.96% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 195.03% 257.46% 192.87% 322.84% 149.26% 203.70% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -2.84 -6.87 -3.14 -9.95 -5.13 -9.67 -0.13 -0.08 -0.59 -0.17 -0.27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -2.52 -6.49 -2.41 -9.17 -4.33 -8.99 -0.13 -0.08 -0.59 -0.17 -0.27
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 6.31 2.50 1.77 23.17 0.00 0.00 248.30 298.50 496.44 268.27 0.00
Price to Tangible Book Value (P/TBV)		 9.77 0.00 13.04 0.00 0.00 0.00 248.30 298.50 496.44 268.27 0.00
Price to Revenue (P/Rev)		 3.43 1.36 1.21 0.93 0.33 0.28 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 101.12 0.00 0.00 0.00 270.65 125.81 114.08 73.21 80.30
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% 0.99% 0.00% 0.00% 0.00% 0.37% 0.79% 0.88% 1.37% 1.25%
Enterprise Value to Invested Capital (EV/IC)		 0.00 1.71 1.35 1.91 1.93 0.00 1.97 2.34 2.36 2.27 2.36
Enterprise Value to Revenue (EV/Rev)		 3.70 1.97 2.03 1.86 1.25 0.95 0.00 0.00 0.00 0.00 0.00
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)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 125.39 111.98
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.30 0.31 0.00 8.64 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.58 1.38 1.23 23.87 -3.45 -0.75 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.32 0.19 7.93 -1.15 -0.20 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.09 5.26 0.08 0.12 0.83 -2.25 0.00 -0.01 -0.01 0.00 0.00
Leverage Ratio		 1.11 11.45 1.17 1.23 9.05 -4.00 1.01 1.00 1.01 1.00 1.00
Compound Leverage Factor		 1.44 12.45 1.74 1.35 10.56 -3.97 -3.43 -9.12 -0.43 -3.67 -1.65
Debt to Total Capital		 36.59% 58.01% 55.11% 95.98% 140.85% -297.59% 0.35% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 36.59% 44.60% 46.42% 64.08% 94.03% -217.29% 0.35% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 13.42% 8.69% 31.90% 46.82% -80.31% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.01% 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% 99.26% 99.55% 99.73% 99.53% 100.05%
Common Equity to Total Capital		 63.41% 41.98% 44.89% 4.02% -40.86% 397.59% 0.39% 0.45% 0.27% 0.47% -0.05%
Debt to EBITDA		 -0.43 -0.52 -0.57 -0.48 -0.47 -0.29 -1.89 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 -0.38 -0.41 -0.56 -0.46 -0.46 -0.29 1.74 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 -0.12 -0.09 -0.16 -0.15 -0.08 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -0.57 -0.85 -0.91 -0.81 -0.87 -0.68 -2.66 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 -0.50 -0.68 -0.89 -0.79 -0.85 -0.66 2.45 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 -0.20 -0.14 -0.27 -0.29 -0.18 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 -7.08 -11.01 -8.44 -12.32 -14.88 -42.44 115.25 220.96 140.31 321.60 185.53
Noncontrolling Interest Sharing Ratio		 91.84% 0.02% 93.77% 102.03% 0.02% -0.01% 99.61% 99.55% 99.73% 99.53% 99.83%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.22 0.40 0.11 0.11 0.11 0.10 1.77 2.23 1.47 3.00 0.88
Quick Ratio		 0.12 0.20 0.05 0.07 0.08 0.08 1.34 1.73 1.22 2.50 0.67
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 82 -9.65 68 69 -9.71 10 -81 -82 -82 -82 -1.60
Operating Cash Flow to CapEx		 0.00% -125,075.63% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 97.13 -16.17 44.23 73.30 -11.34 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.19 -11.83 -0.65 -0.02 -0.29 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.21 -11.84 -0.65 -0.02 -0.29 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.24 0.73 0.17 0.20 0.72 1.01 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 16.66 0.00 0.00 15.83 15.60 0.00 0.00 0.00 0.00 0.00
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		 0.00 58.94 0.00 0.00 58.22 57.16 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 1.28 0.73 0.72 0.63 0.49 0.62 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 21.91 0.00 0.00 23.06 23.40 0.00 0.00 0.00 0.00 0.00
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)		 284.58 501.82 506.92 582.14 738.29 585.79 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 -284.58 -479.91 -506.92 -582.14 -715.23 -562.39 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -0.98 9.37 14 9.96 7.18 -2.67 81 81 81 82 83
Invested Capital Turnover		 0.29 1.34 0.19 0.22 3.57 3.21 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 -84 6.58 -70 -75 8.17 -12 81 81 81 82 1.42
Enterprise Value (EV)		 44 16 18 19 14 10 160 191 192 186 195
Market Capitalization		 40 11 11 9.50 3.64 3.04 79 110 111 104 112
Book Value per Share		 $0.63 $0.50 $0.69 $0.04 ($0.29) ($0.40) $0.03 $0.04 $0.02 $0.04 $0.00
Tangible Book Value per Share		 $0.41 ($0.10) $0.09 ($0.45) ($0.79) ($0.54) $0.03 $0.04 $0.02 $0.04 $0.00
Total Capital		 10 11 14 10 7.39 -2.46 82 82 82 83 83
Total Debt		 3.70 6.14 7.58 9.80 10 7.33 0.29 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 1.42 1.20 3.26 3.46 1.98 0.00 0.00 0.00 0.00 0.00
Net Debt		 3.24 4.92 7.45 9.55 10 7.13 -0.26 -0.52 -0.58 -0.49 -0.24
Capital Expenditures (CapEx)		 -0.02 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -3.74 -1.87 -4.66 -5.20 -4.93 -6.10 0.05 -0.15 -0.35 -0.10 -0.29
Debt-free Net Working Capital (DFNWC)		 -3.28 -0.65 -4.52 -4.95 -4.72 -5.90 0.60 0.37 0.22 0.39 -0.04
Net Working Capital (NWC)		 -6.98 -5.37 -11 -11 -12 -11 0.32 0.37 0.22 0.39 -0.04
Net Nonoperating Expense (NNE)		 2.00 4.39 2.59 5.65 4.45 7.60 -0.41 -0.65 -0.26 -0.58 -0.46
Net Nonoperating Obligations (NNO)		 -7.39 4.92 7.45 9.55 10 7.13 -0.26 -0.52 -0.58 -0.49 -0.24
Total Depreciation and Amortization (D&A)		 0.32 0.37 0.73 0.78 0.81 0.68 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 -31.70% -22.90% -51.54% -50.66% -44.62% -56.77% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 -27.83% -7.94% -50.01% -48.25% -42.69% -54.89% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 -59.14% -65.85% -120.72% -111.99% -105.62% -104.70% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.54) ($25.40) ($0.51) $0.00 $0.00 $0.00 ($0.06) $0.08 $0.00 $0.04 $0.01
Adjusted Weighted Average Basic Shares Outstanding		 7.26M 367.48K 10.24M 10.40M 24.32M 0.00 7.65M 10.30M 10.30M 9.64M 10.30M
Adjusted Diluted Earnings per Share		 ($0.54) ($25.40) ($0.51) $0.00 $0.00 $0.00 ($0.08) $0.07 $0.00 $0.04 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 8.95M 18.37K 10.24M 10.40M 24.32M 725.18K 8.19M 11.13M 11.13M 10.41M 11.13M
Adjusted Basic & Diluted Earnings per Share		 ($0.54) ($25.40) ($0.51) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 8.95M 367.48K 10.10M 10.27M 10.90M 0.00 10.30M 10.30M 10.30M 10.30M 10.30M
Normalized Net Operating Profit after Tax (NOPAT)		 -1.70 -3.08 -2.13 -5.24 -1.54 -1.94 -0.09 -0.06 -0.41 -0.12 -0.18
Normalized NOPAT Margin		 -84.60% -125.53% -78.19% -169.74% -55.25% -90.52% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 -184.14% -304.60% -171.44% -352.84% -214.88% -447.17% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -3.35 -11.50 -2.05 -10.53 -6.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 -2.00 -5.15 -1.39 -5.55 -1.80 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 -3.32 -11.51 -2.05 -10.53 -6.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -1.97 -5.16 -1.39 -5.55 -1.80 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

iCoreConnect (NASDAQ: ICCT) has undergone a dramatic financial reset over the past year, but the latest quarter shows a much smaller, cleaner business profile than the highly volatile 2024 periods. The company reported Q1 2026 net income of $287.8 thousand on no revenue, with operating cash flow of $478.6 thousand. That is a sharp contrast to 2024, when results were distorted by large revenue swings, heavy losses, acquisition activity, and significant financing events.

What stands out most is the balance sheet transformation. Total assets were $83.2 million at the end of Q1 2026, but the company’s equity remained slightly negative at $(44.9) thousand. A large portion of assets is tied up in redeemable noncontrolling interest / other noncurrent operating assets, while current liabilities were modest at $363.4 thousand. This suggests the company is operating with limited day-to-day liabilities, but the capital structure is still unusual and deserves caution.

Trend summary: profitability appears to have improved versus the prior year on a quarterly basis, but the core operating picture is still weak because the company is not generating revenue in the latest quarter. The recent earnings strength is driven primarily by interest and investment income, not by operating sales.

  • Q1 2026 generated positive net income of $287.8 thousand, a meaningful improvement from the large losses seen in much of 2024.
  • Operating cash flow was positive at $478.6 thousand, indicating the company can still generate cash from day-to-day activities in the latest quarter.
  • Liquidity remains adequate in the near term, with cash and equivalents of $243.2 thousand and only $363.4 thousand in total current liabilities.
  • Short-term debt was zero in Q1 2026, reducing immediate leverage pressure.
  • The company has very little revenue visibility right now, as Q1 2026 reported $0 revenue.
  • Recent profits are being driven by non-operating income, especially interest and investment income, rather than business expansion.
  • Shares outstanding have become more stable recently, with basic shares around 10.3 million in Q1 2026 versus much larger historical counts in 2024 filings.
  • Equity remains slightly negative at $(44.9) thousand, which is a red flag for long-term financial flexibility.
  • Investing cash outflow was heavy at $722.2 thousand in Q1 2026, exceeding operating cash generation.
  • The business still does not show consistent operating momentum; 2024 quarters had material revenue, but recent periods show no revenue and results tied to financing and investment income.

Year-over-year context is mixed. In Q1 2025, the company had net income of $315.4 thousand and operating cash flow of $221.7 thousand, so the latest quarter was not a major step backward. However, compared with the 2024 periods, the business appears to have transitioned from a revenue-generating but loss-making operation into a much smaller entity with little to no operating revenue.

Bottom line: The latest quarter looks better on earnings and operating cash flow, but the investment case remains highly speculative because revenue is absent, equity is negative, and profits are dependent on non-operating income. For retail investors, the key question is whether iCoreConnect can rebuild a sustainable operating business rather than rely on financial income and balance-sheet restructuring.

07/24/26 01:43 AM ETAI Generated. May Contain Errors.

FG Merger II Financials - Frequently Asked Questions

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

FG Merger II's net income appears to be on an upward trend, with a most recent value of $1.43 million in 2025, falling from -$1.80 thousand in 2021. The previous period was -$31.16 million in 2024. See where experts think FG Merger II is headed by visiting FG Merger II's forecast page.

FG Merger II's total operating income in 2025 was -$972.16 thousand, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $972.16 thousand

Over the last 4 years, FG Merger II's total revenue changed from $0.00 in 2021 to $0.00 in 2025, a change of 0.0%.

FG Merger II's total liabilities were at $194.92 thousand at the end of 2025, a 98.7% decrease from 2024, and a 5,857.2% increase since 2021.

In the past 4 years, FG Merger II's cash and equivalents has ranged from $0.00 in 2021 to $1.22 million in 2023, and is currently $486.90 thousand as of their latest financial filing in 2025.

Over the last 4 years, FG Merger II's book value per share changed from 0.00 in 2021 to 0.04 in 2025, a change of -7,660.0%.


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Financial statements for NASDAQ:FGMC last updated on 7/23/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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