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Inflection Point Acquisition (IPAX) Financials

Inflection Point Acquisition logo
$20.38 +1.37 (+7.21%)
As of 08/17/2026
Annual Income Statements for Inflection Point Acquisition

Annual Income Statements for Inflection Point Acquisition

This table shows Inflection Point Acquisition's income and expenses over time, based on annual financial data. 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 Income / (Loss) Attributable to Common Shareholders		 0.00 59 -284 -84
Consolidated Net Income / (Loss)		 -6.41 72 -347 -107
Net Income / (Loss) Continuing Operations		 -6.41 10 -347 -107
Total Pre-Tax Income 		-6.43 10 -347 -103
Total Operating Income		 -5.51 -61 -57 -87
Total Gross Profit		 10 80 228 210
Total Revenue		 86 80 228 210
Operating Revenue		 86 80 228 210
Total Cost of Revenue		 76 0.00 0.00 0.00
Total Operating Expenses		 16 141 285 297
Selling, General & Admin Expense		 15 34 53 93
Depreciation Expense		 1.07 1.38 1.86 3.60
Other Operating Expenses / (Income)		 - 104 225 201
Impairment Charge		 0.00 0.96 5.04 0.00
Total Other Income / (Expense), net		 -0.92 71 -289 -16
Interest Expense		 - - 0.09 4.18
Interest & Investment Income		 -0.84 -0.82 0.27 15
Other Income / (Expense), net		 -0.09 72 -290 -27
Income Tax Expense		 -0.02 0.04 0.04 3.96
Preferred Stock Dividends Declared		 0.00 2.34 0.90 0.62
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 -45 -64 -24
Basic Earnings per Share		 $0.00 $3.37 ($4.63) ($0.73)
Weighted Average Basic Shares Outstanding		 0.00 17.65M 61.41M 115.43M
Diluted Earnings per Share		 $0.00 $2.42 ($4.63) ($0.73)
Weighted Average Diluted Shares Outstanding		 0.00 25.56M 61.41M 115.43M
Weighted Average Basic & Diluted Shares Outstanding		 84.17M 25.56M 178.32M 216.80M

Quarterly Income Statements for Inflection Point Acquisition

This table shows Inflection Point Acquisition'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
Total Costs & Expenses		 - - - - - - 79 - - - 253
Net Income / (Loss) Attributable to Common Shareholders		 -16 -98 19 -56 -50 -12 -25 -7.00 -40 -38 -47
Consolidated Net Income / (Loss)		 33 -118 17 -80 -464 0.98 -38 -9.96 -60 -53 -63
Net Income / (Loss) Continuing Operations		 0.50 -118 17 -80 -178 0.98 -38 -9.96 -60 -53 -63
Total Pre-Tax Income 		0.25 -118 17 -80 -162 0.98 -38 -9.96 -56 -53 -63
Total Operating Income		 -9.97 -2.78 -28 -14 -10 -10 -29 -15 -33 -39 -47
Total Gross Profit		 103 14 -16 4.12 -59 6.68 -12 5.67 210 33 39
Total Revenue		 31 73 42 58 55 63 50 52 45 187 206
Operating Revenue		 31 73 42 58 55 63 50 52 45 187 206
Total Cost of Revenue		 -72 59 58 54 114 56 62 47 -165 154 168
Operating Cost of Revenue		 - 59 58 54 - 56 62 47 - 154 168
Total Operating Expenses		 141 17 11 18 -82 17 17 21 243 72 86
Selling, General & Admin Expense		 7.27 16 11 12 12 15 16 20 40 51 60
Research & Development Expense		 - - - - - 0.91 0.46 - - 5.59 7.73
Depreciation Expense		 0.43 0.41 0.42 0.48 0.54 0.62 0.75 0.82 1.41 13 15
Other Operating Expenses / (Income)		 - - - - - 0.00 0.00 - - 3.10 2.76
Total Other Income / (Expense), net		 10 -115 44 -67 -152 11 -9.57 5.46 -23 -13 -16
Interest Expense		 - - - 0.01 - 0.03 0.07 1.34 - 4.89 4.48
Interest & Investment Income		 -0.04 -0.02 0.02 0.04 0.15 1.42 3.50 4.83 5.62 1.43 1.48
Other Income / (Expense), net		 39 -115 44 -67 -185 9.66 -13 1.98 -25 -9.87 -13
Income Tax Expense		 -0.25 0.00 0.00 0.05 -0.01 0.00 0.00 0.01 3.96 0.00 0.01
Preferred Stock Dividends Declared		 0.69 0.47 0.14 0.14 0.15 0.15 0.15 0.16 0.16 0.16 0.17
Net Income / (Loss) Attributable to Noncontrolling Interest		 -7.07 -21 -2.02 -25 -14 12 -13 -3.12 -20 -15 -16
Basic Earnings per Share		 $0.30 ($2.68) $0.34 ($0.83) ($1.43) ($0.11) ($0.22) ($0.06) ($0.34) ($0.25) ($0.29)
Weighted Average Basic Shares Outstanding		 17.65M 36.61M 55.09M 67.07M 61.41M 107.08M 117.43M 117.82M 115.43M 147.88M 162.17M
Diluted Earnings per Share		 $0.27 ($2.68) $0.30 ($0.83) ($1.39) ($0.11) ($0.22) ($0.06) ($0.34) ($0.25) ($0.29)
Weighted Average Diluted Shares Outstanding		 25.56M 36.61M 62.28M 67.07M 61.41M 107.08M 117.43M 117.82M 115.43M 147.88M 162.17M
Weighted Average Basic & Diluted Shares Outstanding		 25.56M 124.63M 128.55M 140.35M 178.32M 178.63M 178.72M 180.22M 216.80M 217.02M 228.92M

Annual Cash Flow Statements for Inflection Point Acquisition

This table details how cash moves in and out of Inflection Point Acquisition'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		 -3.53 -21 205 376
Net Cash From Operating Activities		 0.78 -45 -58 -14
Net Cash From Continuing Operating Activities		 0.78 -45 -58 -14
Net Income / (Loss) Continuing Operations		 -6.41 10 -347 -107
Consolidated Net Income / (Loss)		 -6.41 10 -347 -107
Depreciation Expense		 1.07 1.38 1.86 3.60
Amortization Expense		 - - 0.00 0.98
Non-Cash Adjustments To Reconcile Net Income		 -4.88 -1.42 315 44
Changes in Operating Assets and Liabilities, net		 11 -55 -28 44
Net Cash From Investing Activities		 -16 -30 -10 -57
Net Cash From Continuing Investing Activities		 -16 -30 -10 -57
Purchase of Property, Plant & Equipment		 -16 -30 -10 -42
Acquisitions		 - - 0.00 -15
Net Cash From Financing Activities		 12 54 273 447
Net Cash From Continuing Financing Activities		 12 54 273 447
Repayment of Debt		 -0.11 -12 -18 -0.93
Repurchase of Common Equity		 - - 0.00 -21
Payment of Dividends		 0.00 -17 -12 -2.24
Issuance of Debt		 7.95 0.00 10 336
Issuance of Common Equity		 0.01 20 233 0.00
Other Financing Activities, net		 4.25 37 59 135
Cash Interest Paid		 1.01 1.92 0.41 0.00
Cash Income Taxes Paid		 0.00 0.04 0.61 0.04

Quarterly Cash Flow Statements for Inflection Point Acquisition

This table details how cash moves in and out of Inflection Point Acquisition'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		 -36 53 -24 58 118 166 -28 277 -39 -342 136
Net Cash From Operating Activities		 -22 -6.44 -31 -18 -1.97 19 -19 -7.18 -7.30 -55 -57
Net Cash From Continuing Operating Activities		 -22 -6.44 -31 -18 -1.97 19 -19 -7.18 -7.30 -55 -57
Net Income / (Loss) Continuing Operations		 2.98 -118 16 -77 -165 0.98 -38 -9.96 -60 -53 -63
Consolidated Net Income / (Loss)		 2.98 -118 16 -77 -165 0.98 -38 -9.96 -60 -53 -63
Depreciation Expense		 0.43 0.41 0.42 0.48 0.54 0.62 0.75 0.82 1.41 13 15
Amortization Expense		 - - - - - 0.00 - - 0.74 0.28 0.51
Non-Cash Adjustments To Reconcile Net Income		 -0.87 70 3.35 42 78 -2.14 34 -6.12 56 -13 45
Changes in Operating Assets and Liabilities, net		 -25 41 -51 17 84 20 -16 7.84 -5.83 -3.01 -54
Net Cash From Investing Activities		 -2.24 -1.59 -2.21 -1.39 -4.93 -6.12 -8.05 -12 -31 -455 -26
Net Cash From Continuing Investing Activities		 -2.24 -1.59 -2.21 -1.39 -4.93 -6.12 -8.05 -12 -31 -455 -26
Purchase of Property, Plant & Equipment		 -2.24 -1.59 -2.21 -1.39 -4.93 -6.12 -8.05 -12 -16 -9.88 -24
Acquisitions		 - - - - - 0.00 - - - -445 -2.28
Net Cash From Financing Activities		 -12 61 9.85 77 125 152 -1.04 296 -0.79 167 219
Net Cash From Continuing Financing Activities		 -12 61 9.85 77 125 152 -1.18 296 -0.79 167 219
Repurchase of Common Equity		 - 0.00 - - - -21 - - - -7.55 -4.16
Other Financing Activities, net		 -0.06 51 -1.22 -0.17 9.66 173 -1.04 -37 -0.08 -0.00 -15
Cash Interest Paid		 0.50 0.21 0.16 0.04 - 0.00 - - - 0.02 0.03
Cash Income Taxes Paid		 -0.00 0.00 0.27 0.00 0.34 0.07 -0.07 0.01 0.03 0.07 -0.06

Annual Balance Sheets for Inflection Point Acquisition

This table presents Inflection Point Acquisition'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		 331 67 86 355 757
Total Current Assets		 0.84 41 32 293 619
Cash & Equivalents		 0.36 26 4.50 208 583
Restricted Cash		 - 0.06 0.06 2.04 2.73
Accounts Receivable		 - 1.30 17 45 12
Inventories, net		 - - - - 3.35
Prepaid Expenses		 0.48 6.89 3.04 4.16 5.69
Other Current Assets		 - 6.98 7.13 35 12
Plant, Property, & Equipment, net		 0.00 21 18 23 69
Total Noncurrent Assets		 330 4.84 36 39 70
Noncurrent Note & Lease Receivables		 - - 0.10 0.11 0.09
Goodwill		 - - - 0.00 19
Intangible Assets		 - - - 0.00 13
Other Noncurrent Operating Assets		 330 4.83 36 39 38
Total Liabilities & Shareholders' Equity		 331 67 86 355 757
Total Liabilities		 12 125 137 351 553
Total Current Liabilities		 0.22 95 82 99 125
Accounts Payable		 0.22 6.52 23 20 24
Current Deferred Revenue		 - 57 41 65 57
Other Current Liabilities		 0.00 16 9.61 14 44
Total Noncurrent Liabilities		 12 29 56 253 429
Long-Term Debt		 - 3.86 0.00 0.00 335
Noncurrent Deferred Revenue		 12 2.19 0.00 14 6.34
Noncurrent Employee Benefit Liabilities		 - - - - 0.00
Other Noncurrent Operating Liabilities		 - 23 56 238 87
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 316 0.00 210 1,012 958
Total Equity & Noncontrolling Interests		 3.28 -58 -261 -1,008 -754
Total Preferred & Common Equity		 3.28 -58 -261 -1,009 -755
Total Common Equity		 3.28 -58 -261 -1,009 -755
Common Stock		 3.59 15 0.01 0.02 0.02
Retained Earnings		 -0.32 -73 -249 -996 -721
Treasury Stock		 - 0.00 -13 -13 -34
Noncontrolling Interest		 - - 0.00 1.23 0.52

Quarterly Balance Sheets for Inflection Point Acquisition

This table presents Inflection Point Acquisition'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		 100 96 103 171 140 225 500 476 754 1,718 1,887
Total Current Assets		 66 51 49 116 83 168 431 397 666 505 663
Cash & Equivalents		 47 39 41 55 32 90 373 345 622 232 367
Restricted Cash		 0.06 0.06 0.06 2.04 2.04 2.04 2.04 2.04 2.04 12 12
Accounts Receivable		 2.31 2.27 2.45 35 38 51 29 37 23 106 120
Inventories, net		 - - - - - - - - - 84 92
Prepaid Expenses		 4.73 4.40 3.72 3.38 3.85 3.74 5.16 4.80 8.47 24 21
Other Current Assets		 12 4.71 2.01 20 7.32 22 22 8.44 10 48 51
Plant, Property, & Equipment, net		 29 41 18 20 21 17 30 41 49 244 265
Total Noncurrent Assets		 4.66 4.48 37 36 36 39 39 38 38 968 960
Noncurrent Note & Lease Receivables		 - - - 0.12 0.13 0.12 0.12 0.11 0.10 218 210
Goodwill		 - - - - - - - - - 380 379
Intangible Assets		 - - - - - - - - - 304 297
Other Noncurrent Operating Assets		 4.65 4.47 37 35 36 39 39 38 38 67 74
Total Liabilities & Shareholders' Equity		 100 96 103 171 140 225 500 476 754 1,718 1,887
Total Liabilities		 221 169 163 215 150 229 172 185 510 987 976
Total Current Liabilities		 108 109 101 105 85 95 98 107 106 415 400
Accounts Payable		 19 17 11 55 30 25 29 26 18 92 67
Current Deferred Revenue		 - 41 50 29 41 55 58 68 66 206 216
Other Current Liabilities		 73 31 21 13 12 16 12 12 22 118 117
Total Noncurrent Liabilities		 113 60 62 110 65 134 74 77 404 571 576
Long-Term Debt		 3.87 0.00 0.00 - - - - - 335 336 336
Noncurrent Deferred Revenue		 - 0.00 0.57 3.61 3.32 0.88 13 3.22 1.64 2.73 4.07
Noncurrent Employee Benefit Liabilities		 - - - - - - - - - 52 49
Other Noncurrent Operating Liabilities		 109 60 61 106 62 133 61 74 67 181 187
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 762 605 286 449 224 491 463 670 647 1,065 1,202
Total Equity & Noncontrolling Interests		 -883 -678 -346 -493 -234 -495 -135 -379 -403 -333 -290
Total Preferred & Common Equity		 -883 -678 -346 -494 -235 -497 -137 -381 -404 -334 -291
Total Common Equity		 -883 -678 -346 -494 -235 -497 -137 -381 -404 -334 -291
Common Stock		 0.01 0.01 0.01 0.01 0.01 0.01 0.02 0.02 0.02 0.02 0.02
Retained Earnings		 -871 -665 -333 -481 -222 -484 -103 -348 -371 -301 -257
Treasury Stock		 -13 -13 -13 -13 -13 -13 -34 -34 -34 -34 -34
Noncontrolling Interest		 - - - 0.97 0.79 1.46 1.69 2.07 0.89 0.86 0.57

Annual Metrics And Ratios for Inflection Point Acquisition

This table displays calculated financial ratios and metrics derived from Inflection Point Acquisition's official financial filings.

Metric 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - 180,219,048.00
DEI Adjusted Shares Outstanding		 - - - 180,219,048.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - -0.47
Growth Metrics		 - - - -
Profitability Metrics		 - - - -
Net Operating Profit after Tax (NOPAT)		 -3.85 -61 -40 -61
Return On Investment Capital (ROIC_SIMPLE)		 - 24.02% 3.99% 14.57%
Earnings before Interest and Taxes (EBIT)		 -5.59 11 -347 -114
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -4.52 12 -345 -109
Valuation Ratios		 - - - -
Leverage & Solvency		 - - - -
Liquidity Ratios		 - - - -
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -76 117 -220
Efficiency Ratios		 - - - -
Capital & Investment Metrics		 - - - -
Invested Capital		 -63 -48 -206 -46
Increase / (Decrease) in Invested Capital		 0.00 15 -158 159
Book Value per Share		 ($1.40) ($2.84) ($7.19) ($4.19)
Tangible Book Value per Share		 ($1.40) ($2.84) ($7.19) ($4.36)
Total Capital		 -38 -44 3.92 539
Total Debt		 20 8.00 0.00 335
Total Long-Term Debt		 3.86 0.00 0.00 335
Net Debt		 -5.87 3.44 -210 -250
Capital Expenditures (CapEx)		 16 30 10 42
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -64 -46 -15 -91
Debt-free Net Working Capital (DFNWC)		 -38 -42 194 494
Net Working Capital (NWC)		 -54 -50 194 494
Net Nonoperating Expense (NNE)		 2.55 -133 590 46
Net Nonoperating Obligations (NNO)		 -5.87 3.44 -210 -250
Total Depreciation and Amortization (D&A)		 1.07 1.38 1.86 4.58
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $0.00 $3.43 ($4.63) ($0.73)
Adjusted Weighted Average Basic Shares Outstanding		 41.22M 17.65M 61.41M 115.43M
Adjusted Diluted Earnings per Share		 $0.00 $2.46 ($4.63) ($0.73)
Adjusted Weighted Average Diluted Shares Outstanding		 84.17M 25.56M 61.41M 115.43M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 84.17M 25.56M 178.32M 216.80M
Normalized Net Operating Profit after Tax (NOPAT)		 -3.85 -60 -37 -61
Debt Service Ratios		 - - - -
Payout Ratios		 - - - -

Quarterly Metrics And Ratios for Inflection Point Acquisition

This table displays calculated financial ratios and metrics derived from Inflection Point Acquisition'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		 - - - - - - - - 180,219,048.00 216,800,752.00 217,020,949.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 180,219,048.00 216,800,752.00 217,020,949.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - -0.22 -0.17 -0.21
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -45.82% 300.68% 130.13% 359.34% 79.94% -14.61% 20.83% -10.33% - 198.65% 309.77%
EBITDA Growth		 121.43% -511.60% 226.87% -401.05% -760.81% 100.17% -339.66% 84.20% - -17,537.56% -8.58%
EBIT Growth		 123.03% -504.60% 220.62% -410.78% -772.49% 99.65% -350.28% 83.28% - -11,639.71% -43.70%
NOPAT Growth		 -254.84% 61.33% -73.56% 58.29% 64.90% -418.76% 27.10% -12.35% - -172.31% -64.58%
Net Income Growth		 163.54% -414.59% -29.06% -661.88% -1,515.79% 100.83% -329.40% 87.61% - -5,487.49% -64.48%
EPS Growth		 0.00% -321.88% -80.92% -165.35% -614.81% 95.90% -173.33% 92.77% - -127.27% -31.82%
Operating Cash Flow Growth		 -176.68% 65.49% -1,180.91% -150.31% 91.21% 401.44% 38.38% 59.94% - -382.03% -196.48%
Free Cash Flow Firm Growth		 0.00% -112.83% -120.06% -98.44% 524.12% 2.02% 94.22% -1,149.65% - -1,515.97% -21,042.69%
Invested Capital Growth		 24.18% 37.03% 55.39% -19.18% -327.42% 48.85% -37.80% 52.84% - 1,827.38% 1,636.23%
Revenue Q/Q Growth		 140.29% 301.68% -43.33% 41.22% -5.87% 13.90% -19.53% 4.22% - 316.95% 10.41%
EBITDA Q/Q Growth		 90.51% -2,109.96% 113.63% -384.31% -318.16% 100.10% -20,042.44% 69.11% - 36.55% -24.18%
EBIT Q/Q Growth		 91.79% -1,954.43% 113.23% -394.87% -315.02% 99.79% -9,860.29% 67.71% - 16.09% -21.91%
NOPAT Q/Q Growth		 12.55% 35.63% -645.34% 65.90% 26.42% -13.15% -98.95% 46.16% - -18.45% -20.24%
Net Income Q/Q Growth		 128.78% -385.52% 128.40% -334.70% -476.45% 100.21% -4,018.56% 73.93% - 11.95% -19.63%
EPS Q/Q Growth		 -78.74% -1,031.03% 110.74% -386.21% -67.47% 92.20% -100.00% 72.73% - 26.47% -16.00%
Operating Cash Flow Q/Q Growth		 -212.14% 71.17% -385.25% 42.67% 89.03% 1,088.24% -199.20% 62.73% - -650.76% -4.28%
Free Cash Flow Firm Q/Q Growth		 -109.44% -202.42% -35.03% 107.42% 2,464.26% -137.40% 91.85% -1,259.28% - -392.22% -6.64%
Invested Capital Q/Q Growth		 40.36% -86.52% 55.97% -134.36% -113.89% 76.82% -18.62% 19.80% - 1,878.83% 5.49%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 335.69% 100.00% -37.90% 7.05% -106.69% 10.68% -23.54% 10.81% - 17.78% 18.74%
EBITDA Margin		 96.36% -164.53% 39.57% -79.66% -353.86% 0.33% -81.26% -24.08% - -19.14% -21.53%
Operating Margin		 -32.59% -7.39% -68.04% -23.47% -18.34% -16.12% -56.92% -29.40% - -20.99% -22.86%
EBIT Margin		 94.95% -165.10% 38.55% -80.48% -354.84% -0.67% -82.75% -25.64% - -26.28% -29.02%
Profit (Net Income) Margin		 107.02% -165.13% 82.74% -137.51% -842.08% 1.56% -75.94% -18.99% - -28.13% -30.48%
Tax Burden Percent		 13,255.06% 100.00% 214.39% 100.06% 286.40% 100.00% 100.00% 100.05% - 100.00% 100.01%
Interest Burden Percent		 0.85% 100.02% 100.13% 170.75% 82.86% -233.25% 91.77% 74.05% - 107.04% 105.03%
Effective Tax Rate		 -102.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - -12.66% -19.31%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 5.08% -4.01%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - -1.36% 1.30%
Return on Equity (ROE)		 -131.70% 117.77% 267.46% 638.54% 2,645.63% -360.50% -403.67% -414.34% - -14.02% -18.01%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - -115.68% -117.37%
Operating Return on Assets (OROA)		 98.79% -66.94% 25.57% -60.89% -366.65% -0.43% -60.74% -11.53% - -7.92% -12.04%
Return on Assets (ROA)		 111.36% -66.95% 54.89% -104.04% -870.10% 1.01% -55.74% -8.54% - -8.48% -12.64%
Return on Common Equity (ROCE)		 -384.82% 982.35% 2,936.30% 8,344.27% 70,550.38% 801.33% 886.71% 1,560.07% - 6.24% 10.06%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 19.69% 47.34% 41.46% 0.00% 373.47% 0.00% 0.00% - 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -20 -3.78 -28 -9.61 -7.07 -10 -20 -11 -23 -27 -33
NOPAT Margin		 -65.84% -5.17% -68.04% -16.43% -12.84% -16.12% -39.85% -20.58% - -14.70% -16.00%
Net Nonoperating Expense Percent (NNEP)		 4,361.22% -306.84% 250.51% -126.01% -442.72% 5.21% -9.60% 0.44% - -17.74% -15.30%
Return On Investment Capital (ROIC_SIMPLE)		 7.95% - - - 0.70% 7.45% 5.29% 15.77% 5.53% -1,140.04% -71.31%
Cost of Revenue to Revenue		 -235.69% 0.00% 137.90% 92.95% 206.69% 89.32% 123.54% 89.19% - 82.22% 81.26%
SG&A Expenses to Revenue		 23.77% 23.46% 29.12% 21.07% 21.33% 25.80% 31.89% 38.66% - 27.14% 29.27%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 2.99% 3.75%
Operating Expenses to Revenue		 462.28% 107.39% 30.14% 87.51% -148.89% 26.80% 33.39% 40.21% - 38.78% 41.60%
Earnings before Interest and Taxes (EBIT)		 29 -121 16 -47 -195 -0.42 -42 -13 -58 -49 -60
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 29 -120 16 -47 -195 0.21 -41 -13 -56 -36 -44
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Price to Revenue (P/Rev)		 2.95 13.90 5.26 8.35 11.18 6.11 8.59 8.55 - 12.04 9.47
Price to Earnings (P/E)		 3.95 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%
Earnings Yield		 25.30% 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)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 6.29 6.68
Enterprise Value to Revenue (EV/Rev)		 5.63 21.21 7.74 11.58 14.70 6.52 10.03 10.18 - 15.50 11.84
Enterprise Value to EBITDA (EV/EBITDA)		 36.21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 40.73 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
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 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 28.55 0.00 0.00 0.00 - 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -0.16 -0.18 -0.29 0.00 0.00 0.00 0.00 1.37 - 0.46 0.37
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.37 - 0.46 0.37
Financial Leverage		 0.02 0.46 0.60 1.74 4.33 -1.50 -1.35 -1.59 - -0.27 -0.32
Leverage Ratio		 -1.40 -1.64 -2.84 -5.08 -9.26 2.36 2.20 4.09 - 2.09 1.97
Compound Leverage Factor		 -0.01 -1.64 -2.84 -8.68 -7.67 -5.52 2.01 3.03 - 2.24 2.06
Debt to Total Capital		 -18.36% -22.26% -40.71% 0.00% 0.00% 0.00% 0.00% 57.86% - 31.48% 26.95%
Short-Term Debt to Total Capital		 -18.36% -22.26% -40.71% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 57.86% - 31.48% 26.95%
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%
Noncontrolling Interests to Total Capital		 -481.65% -1,251.39% -3,048.53% -10,850.17% 25,839.91% 141.79% 231.04% 111.98% - 99.86% 96.34%
Common Equity to Total Capital		 600.01% 1,373.65% 3,189.24% 10,950.17% -25,739.91% -41.79% -131.04% -69.85% - -31.33% -23.29%
Debt to EBITDA		 0.65 -0.17 -0.05 0.00 0.00 0.00 0.00 -1.54 - -2.31 -2.26
Net Debt to EBITDA		 0.28 1.07 0.50 0.00 0.00 0.00 0.00 1.33 - -0.64 0.29
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -1.54 - -2.31 -2.26
Debt to NOPAT		 -0.13 -0.24 -0.07 0.00 0.00 0.00 0.00 -7.08 - -4.12 -3.56
Net Debt to NOPAT		 -0.06 1.48 0.70 0.00 0.00 0.00 0.00 6.12 - -1.14 0.45
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -7.08 - -4.12 -3.56
Altman Z-Score		 -1.68 -3.74 0.34 -0.06 -0.09 5.57 6.20 2.65 - 2.36 2.99
Noncontrolling Interest Sharing Ratio		 -192.20% -734.12% -997.86% -1,206.77% -2,566.67% 322.28% 319.66% 476.52% - 144.51% 155.87%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.39 1.10 0.98 1.77 2.97 4.39 3.70 6.28 - 1.22 1.66
Quick Ratio		 0.26 0.86 0.82 1.48 2.55 4.10 3.56 6.09 - 0.81 1.22
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -35 -59 -79 5.87 151 -56 -4.53 -62 -183 -899 -958
Operating Cash Flow to CapEx		 -996.26% -405.67% -1,417.69% -1,287.36% -39.89% 317.20% -239.17% -60.78% - -554.56% -237.32%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -45.85 - -183.98 -213.79
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -5.34 - -11.21 -12.74
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -14.13 - -13.23 -18.11
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.04 0.41 0.66 0.76 1.03 0.65 0.73 0.45 - 0.30 0.41
Accounts Receivable Turnover		 8.75 2.92 3.86 4.61 7.40 6.73 6.04 5.89 - 4.95 6.27
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Fixed Asset Turnover		 4.03 2.24 2.52 7.15 10.93 8.81 7.30 6.60 - 2.44 3.21
Accounts Payable Turnover		 0.00 0.00 0.49 2.20 10.56 5.28 8.07 10.19 - 1.62 4.33
Days Sales Outstanding (DSO)		 41.71 124.92 94.53 79.13 49.34 54.22 60.44 61.93 - 73.78 58.18
Days Inventory Outstanding (DIO)		 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 0.00 741.76 165.65 34.56 69.10 45.21 35.82 - 224.99 84.37
Cash Conversion Cycle (CCC)		 41.71 124.92 -647.23 -86.51 14.78 -14.87 15.23 26.12 - -151.21 -26.19
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -48 -93 -41 -96 -206 -48 -57 -45 -46 824 869
Invested Capital Turnover		 -1.43 -0.45 -1.18 -1.40 -1.80 -3.08 -4.63 -3.11 - 0.86 1.21
Increase / (Decrease) in Invested Capital		 15 55 51 -15 -158 46 -16 51 159 871 925
Enterprise Value (EV)		 448 1,163 605 1,435 3,352 1,418 2,267 2,239 - 5,182 5,802
Market Capitalization		 235 762 411 1,035 2,549 1,328 1,942 1,880 - 4,024 4,642
Book Value per Share		 ($2.84) ($4.05) ($1.89) ($3.86) ($7.19) ($0.77) ($2.13) ($2.26) ($4.19) ($1.54) ($1.34)
Tangible Book Value per Share		 ($2.84) ($4.05) ($1.89) ($3.86) ($7.19) ($0.77) ($2.13) ($2.26) ($4.36) ($4.70) ($4.46)
Total Capital		 -44 -36 -7.37 -4.54 3.92 328 291 579 539 1,067 1,248
Total Debt		 8.00 8.00 3.00 0.00 0.00 0.00 0.00 335 335 336 336
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 335 335 336 336
Net Debt		 3.44 -49 -31 -92 -210 -375 -347 -289 -250 92 -43
Capital Expenditures (CapEx)		 2.24 1.59 2.21 1.39 4.93 6.12 8.05 12 16 9.88 24
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -46 -38 -33 -19 -15 -42 -57 -64 -91 -154 -116
Debt-free Net Working Capital (DFNWC)		 -42 19 1.10 73 194 333 289 560 494 90 263
Net Working Capital (NWC)		 -50 11 -1.90 73 194 333 289 560 494 90 263
Net Nonoperating Expense (NNE)		 -53 117 -62 71 456 -11 18 -0.83 36 25 30
Net Nonoperating Obligations (NNO)		 3.44 -49 -31 -92 -210 -375 -347 -289 -250 92 -43
Total Depreciation and Amortization (D&A)		 0.43 0.41 0.42 0.48 0.54 0.62 0.75 0.82 2.15 13 15
Debt-free, Cash-free Net Working Capital to Revenue		 -58.43% -69.98% -41.63% -15.08% -6.72% -19.39% -25.44% -29.12% - -45.94% -23.67%
Debt-free Net Working Capital to Revenue		 -52.70% 34.50% 1.41% 58.84% 85.23% 153.32% 128.09% 254.60% - 26.87% 53.66%
Net Working Capital to Revenue		 -62.75% 19.91% -2.43% 58.84% 85.23% 153.32% 128.09% 254.60% - 26.87% 53.66%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.30 ($2.70) $0.33 ($0.83) ($1.43) ($0.11) ($0.22) ($0.06) ($0.34) ($0.25) ($0.29)
Adjusted Weighted Average Basic Shares Outstanding		 17.65M 36.61M 55.09M 67.07M 61.41M 107.08M 117.43M 117.82M 115.43M 147.88M 162.17M
Adjusted Diluted Earnings per Share		 $0.27 ($2.70) $0.29 ($0.83) ($1.39) ($0.11) ($0.22) ($0.06) ($0.34) ($0.25) ($0.29)
Adjusted Weighted Average Diluted Shares Outstanding		 25.56M 36.61M 62.28M 67.07M 61.41M 107.08M 117.43M 117.82M 115.43M 147.88M 162.17M
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		 25.56M 124.63M 128.55M 140.35M 178.32M 178.63M 178.72M 180.22M 216.80M 217.02M 228.92M
Normalized Net Operating Profit after Tax (NOPAT)		 -6.98 -3.78 -20 17 -7.07 -7.05 -20 -11 -23 -27 -33
Normalized NOPAT Margin		 -22.81% -5.17% -47.63% 29.50% -12.84% -11.28% -39.85% -20.58% - -14.70% -16.00%
Pre Tax Income Margin		 0.81% -165.13% 38.59% -137.42% -294.03% 1.56% -75.94% -18.98% - -28.13% -30.48%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -10.00 - -10.05 -13.35
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -8.03 - -5.62 -7.36
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -18.79 - -12.07 -18.71
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -16.82 - -7.64 -12.73
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 23.14% -16.31% -3.97% -0.45% -1.85% 0.00% -1.81% -2.37% - 0.00% -1.58%
Augmented Payout Ratio		 23.14% -16.31% -3.97% -0.45% -1.85% 0.00% -1.81% -2.37% - -4.71% -7.91%

Financials Breakdown Chart

Key Financial Trends

Intuitive Machines (NASDAQ: LUNR) showed a much improved revenue profile in Q1 2026, but profitability and cash flow remain under pressure. The company posted strong top-line growth compared with the prior year, yet it still generated a sizable net loss and burned cash from operations. The balance sheet also reflects a highly leveraged and complex capital structure, including significant redeemable noncontrolling interest and negative common equity.

  • Revenue jumped year over year in Q1 2026. Operating revenue rose to $186.7 million from $62.5 million in Q1 2025, indicating strong business growth.
  • Gross profit improved sharply versus the prior year period. Q1 2026 gross profit was $33.2 million, up from $6.7 million in Q1 2025, showing better scale and execution on the top line.
  • Cash balance remains substantial. Intuitive Machines ended Q1 2026 with $231.6 million in cash and equivalents, plus $11.7 million of restricted cash.
  • Deferred revenue is sizable. Current deferred revenue of $205.6 million suggests a meaningful backlog of work already contracted but not yet recognized as revenue.
  • Operating revenue and gross profit also improved sequentially. Compared with Q4 2025, revenue increased from $44.8 million to $186.7 million, a major quarter-over-quarter acceleration.
  • Accounts receivable and inventory are elevated. The company held $105.8 million in receivables and $83.8 million in inventory, which may reflect growth but also ties up working capital.
  • Balance sheet composition is unusual. Redeemable noncontrolling interest of $1.06 billion is very large relative to common equity and complicates the capital structure.
  • Share count has changed materially over time. Weighted average basic shares were 147.9 million in Q1 2026 versus 115.4 million in Q4 2025, pointing to dilution and/or structure changes.
  • Losses remain significant. Q1 2026 net loss attributable to common shareholders was $37.5 million, and EPS was $(0.25).
  • Operating cash flow was deeply negative. Cash from operations was $(54.8) million in Q1 2026, compared with $(7.3) million in Q4 2025.
  • Investing cash outflows were very large. The quarter included $444.8 million of acquisitions and $9.9 million of capex, leading to $(454.7) million of investing cash flow.
  • Leverage remains high. Long-term debt stood at $335.8 million at Q1 2026, while total liabilities were $986.8 million.
  • Common equity is negative. Total common equity was $(334.3) million, a sign the capital structure is heavily strained.
  • Gross margin is still not stable. Although Q1 2026 was better, the business has shown large swings in margins over the past year, including weak or negative gross profit in several quarters.

Trend summary: Over the last several years, Intuitive Machines has moved from a small-revenue, loss-making business to one with much larger quarterly revenue. That is encouraging. But the company is still not consistently profitable, cash flow is volatile, and the balance sheet remains highly complex. For retail investors, the key question is whether the recent growth can translate into sustainable margins and positive operating cash flow before dilution or leverage become a bigger problem.

08/19/26 01:48 AM ETAI Generated. May Contain Errors.

Inflection Point Acquisition Financials - Frequently Asked Questions

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

Inflection Point Acquisition's net income appears to be on an upward trend, with a most recent value of -$106.85 million in 2025, rising from -$6.41 million in 2022. The previous period was -$346.92 million in 2024.

Inflection Point Acquisition's total operating income in 2025 was -$87.23 million, based on the following breakdown:
  • Total Gross Profit: $210.06 million
  • Total Operating Expenses: $297.29 million

Over the last 3 years, Inflection Point Acquisition's total revenue changed from $85.95 million in 2022 to $210.06 million in 2025, a change of 144.4%.

Inflection Point Acquisition's total liabilities were at $553.45 million at the end of 2025, a 57.5% increase from 2024, and a 4,605.9% increase since 2021.

In the past 4 years, Inflection Point Acquisition's cash and equivalents has ranged from $359.61 thousand in 2021 to $582.61 million in 2025, and is currently $582.61 million as of their latest financial filing in 2025.

Over the last 3 years, Inflection Point Acquisition's book value per share changed from -1.40 in 2022 to -4.19 in 2025, a change of 199.7%.



Financial statements for NASDAQ:IPAX last updated on 8/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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