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Inflection Point Acquisition (IPAX) Financials

Inflection Point Acquisition logo
$38.26 +4.02 (+11.74%)
As of 05/22/2026
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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 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		 66 -16 -98 19 -56 -50 -12 -25 -7.00 -40 -38
Consolidated Net Income / (Loss)		 14 33 -118 17 -80 -464 0.98 -38 -9.96 -60 -53
Net Income / (Loss) Continuing Operations		 14 0.50 -118 17 -80 -178 0.98 -38 -9.96 -60 -53
Total Pre-Tax Income 		15 0.25 -118 17 -80 -162 0.98 -38 -9.96 -56 -53
Total Operating Income		 -24 -9.97 -2.78 -28 -14 -10 -10 -29 -15 -33 -39
Total Gross Profit		 -14 103 14 -16 4.12 -59 6.68 -12 5.67 210 33
Total Revenue		 13 31 73 42 58 55 63 50 52 45 187
Operating Revenue		 13 31 73 42 58 55 63 50 52 45 187
Total Cost of Revenue		 26 -72 59 58 54 114 56 62 47 -165 154
Operating Cost of Revenue		 26 - 59 58 54 - 56 62 47 - 154
Total Operating Expenses		 10 141 17 11 18 -82 17 17 21 243 72
Selling, General & Admin Expense		 9.91 7.27 16 11 12 12 15 16 20 40 51
Research & Development Expense		 - - - - - - 0.91 - - - 5.59
Depreciation Expense		 0.33 0.43 0.41 0.42 0.48 0.54 0.62 0.75 0.82 1.41 13
Other Operating Expenses / (Income)		 - - - - - - 0.00 - - - 3.10
Total Other Income / (Expense), net		 39 10 -115 44 -67 -152 11 -9.57 5.46 -23 -13
Interest Expense		 - - - - 0.01 - 0.03 - 1.34 - 4.89
Interest & Investment Income		 -0.23 -0.04 -0.02 0.02 0.04 0.15 1.42 3.43 4.83 5.62 1.43
Other Income / (Expense), net		 39 39 -115 44 -67 -185 9.66 -13 1.98 -25 -9.87
Income Tax Expense		 0.61 -0.25 0.00 0.00 0.05 -0.01 0.00 0.00 0.01 3.96 0.00
Preferred Stock Dividends Declared		 0.67 0.69 0.47 0.14 0.14 0.15 0.15 0.15 0.16 0.16 0.16
Net Income / (Loss) Attributable to Noncontrolling Interest		 -19 -7.07 -21 -2.02 -25 -14 12 -13 -3.12 -20 -15
Basic Earnings per Share		 $1.87 $0.30 ($2.68) $0.34 ($0.83) ($1.43) ($0.11) ($0.22) ($0.06) ($0.34) ($0.25)
Weighted Average Basic Shares Outstanding		 17.41M 17.65M 36.61M 55.09M 67.07M 61.41M 107.08M 117.43M 117.82M 115.43M 147.88M
Diluted Earnings per Share		 $1.27 $0.27 ($2.68) $0.30 ($0.83) ($1.39) ($0.11) ($0.22) ($0.06) ($0.34) ($0.25)
Weighted Average Diluted Shares Outstanding		 26.13M 25.56M 36.61M 62.28M 67.07M 61.41M 107.08M 117.43M 117.82M 115.43M 147.88M
Weighted Average Basic & Diluted Shares Outstanding		 26.13M 25.56M 124.63M 128.55M 140.35M 178.32M 178.63M 178.72M 180.22M 216.80M 217.02M

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 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		 1.57 -36 53 -24 58 118 166 -28 277 -39 -342
Net Cash From Operating Activities		 -7.16 -22 -6.44 -31 -18 -1.97 19 -19 -7.18 -7.30 -55
Net Cash From Continuing Operating Activities		 -7.16 -22 -6.44 -31 -18 -1.97 19 -19 -7.18 -7.30 -55
Net Income / (Loss) Continuing Operations		 12 2.98 -118 16 -77 -165 0.98 -38 -9.96 -60 -53
Consolidated Net Income / (Loss)		 12 2.98 -118 16 -77 -165 0.98 -38 -9.96 -60 -53
Depreciation Expense		 0.33 0.43 0.41 0.42 0.48 0.54 0.62 0.75 0.82 1.41 13
Amortization Expense		 - - - - - - 0.00 - - 0.74 0.28
Non-Cash Adjustments To Reconcile Net Income		 12 -0.87 70 3.35 42 78 -2.14 34 -6.12 56 -13
Changes in Operating Assets and Liabilities, net		 -31 -25 41 -51 17 84 20 -16 7.84 -5.83 -3.01
Net Cash From Investing Activities		 -7.47 -2.24 -1.59 -2.21 -1.39 -4.93 -6.12 -8.05 -12 -31 -455
Net Cash From Continuing Investing Activities		 -7.47 -2.24 -1.59 -2.21 -1.39 -4.93 -6.12 -8.05 -12 -31 -455
Purchase of Property, Plant & Equipment		 -7.47 -2.24 -1.59 -2.21 -1.39 -4.93 -6.12 -8.05 -12 -16 -9.88
Acquisitions		 - - - - - - 0.00 - - - -445
Net Cash From Financing Activities		 16 -12 61 9.85 77 125 152 -1.04 296 -0.79 167
Net Cash From Continuing Financing Activities		 16 -12 61 9.85 77 125 152 -1.18 296 -0.79 167
Repurchase of Common Equity		 - - 0.00 - - - -21 - - - -7.55
Issuance of Common Equity		 20 - 10 17 80 125 0.00 - - - 175
Other Financing Activities, net		 -0.32 -0.06 51 -1.22 -0.17 9.66 173 -1.04 -37 -0.08 -0.00
Cash Interest Paid		 0.45 0.50 0.21 0.16 0.04 - 0.00 - - - 0.02
Cash Income Taxes Paid		 0.00 -0.00 0.00 0.27 0.00 0.34 0.07 -0.07 0.01 0.03 0.07

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 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 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
Total Assets		 332 100 96 103 171 140 225 500 476 754 1,718
Total Current Assets		 0.48 66 51 49 116 83 168 431 397 666 505
Cash & Equivalents		 0.02 47 39 41 55 32 90 373 345 622 232
Restricted Cash		 - 0.06 0.06 0.06 2.04 2.04 2.04 2.04 2.04 2.04 12
Accounts Receivable		 - 2.31 2.27 2.45 35 38 51 29 37 23 106
Inventories, net		 - - - - - - - - - - 84
Prepaid Expenses		 0.46 4.73 4.40 3.72 3.38 3.85 3.74 5.16 4.80 8.47 24
Other Current Assets		 - 12 4.71 2.01 20 7.32 22 22 8.44 10 48
Plant, Property, & Equipment, net		 0.00 29 41 18 20 21 17 30 41 49 244
Total Noncurrent Assets		 332 4.66 4.48 37 36 36 39 39 38 38 968
Noncurrent Note & Lease Receivables		 - - - - 0.12 0.13 0.12 0.12 0.11 0.10 218
Goodwill		 - - - - - - - - - - 380
Intangible Assets		 - - - - - - - - - - 304
Other Noncurrent Operating Assets		 332 4.65 4.47 37 35 36 39 39 38 38 67
Total Liabilities & Shareholders' Equity		 332 100 96 103 171 140 225 500 476 754 1,718
Total Liabilities		 14 221 169 163 215 150 229 172 185 510 987
Total Current Liabilities		 2.47 108 109 101 105 85 95 98 107 106 415
Accounts Payable		 2.35 19 17 11 55 30 25 29 26 18 92
Current Deferred Revenue		 - - 41 50 29 41 55 58 68 66 206
Other Current Liabilities		 0.13 73 31 21 13 12 16 12 12 22 118
Total Noncurrent Liabilities		 12 113 60 62 110 65 134 74 77 404 571
Long-Term Debt		 - 3.87 0.00 0.00 - - - - - 335 336
Noncurrent Deferred Revenue		 12 - 0.00 0.57 3.61 3.32 0.88 13 3.22 1.64 2.73
Noncurrent Employee Benefit Liabilities		 - - - - - - - - - - 52
Other Noncurrent Operating Liabilities		 - 109 60 61 106 62 133 61 74 67 181
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		 318 762 605 286 449 224 491 463 670 647 1,065
Total Equity & Noncontrolling Interests		 0.33 -883 -678 -346 -493 -234 -495 -135 -379 -403 -333
Total Preferred & Common Equity		 0.33 -883 -678 -346 -494 -235 -497 -137 -381 -404 -334
Total Common Equity		 0.33 -883 -678 -346 -494 -235 -497 -137 -381 -404 -334
Common Stock		 1.60 0.01 0.01 0.01 0.01 0.01 0.01 0.02 0.02 0.02 0.02
Retained Earnings		 -1.27 -871 -665 -333 -481 -222 -484 -103 -348 -371 -301
Treasury Stock		 - -13 -13 -13 -13 -13 -13 -34 -34 -34 -34
Noncontrolling Interest		 - - - - 0.97 0.79 1.46 1.69 2.07 0.89 0.86

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 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		 - - - - - - - - - 180,219,048.00 216,800,752.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 180,219,048.00 216,800,752.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - -0.22 -0.17
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 23.95% -45.82% 300.68% 130.13% 359.34% 79.94% -14.61% 20.83% -10.33% - 198.65%
EBITDA Growth		 231.51% 121.43% -511.60% 226.87% -401.05% -760.81% 100.17% -339.66% 84.20% - -17,537.56%
EBIT Growth		 225.76% 123.03% -504.60% 220.62% -410.78% -772.49% 99.65% -350.28% 83.28% - -11,639.71%
NOPAT Growth		 -178.89% -254.84% 61.33% -73.56% 58.29% 64.90% -418.76% 27.10% -12.35% - -172.31%
Net Income Growth		 219.94% 163.54% -414.59% -29.06% -661.88% -1,515.79% 100.83% -329.40% 87.61% - -5,487.49%
EPS Growth		 0.00% 0.00% -321.88% -80.92% -165.35% -614.81% 95.90% -173.33% 92.77% - -127.27%
Operating Cash Flow Growth		 58.42% -176.68% 65.49% -1,180.91% -150.31% 91.21% 401.44% 38.38% 59.94% - -382.03%
Free Cash Flow Firm Growth		 1,128.10% 0.00% -112.83% -120.06% -98.44% 524.12% 2.02% 94.22% -1,149.65% - -1,515.97%
Invested Capital Growth		 -125.36% 24.18% 37.03% 55.39% -19.18% -327.42% 48.85% -37.80% 52.84% - 1,827.38%
Revenue Q/Q Growth		 -29.24% 140.29% 301.68% -43.33% 41.22% -5.87% 13.90% -19.53% 4.22% - 316.95%
EBITDA Q/Q Growth		 219.82% 90.51% -2,109.96% 113.63% -384.31% -318.16% 100.10% -20,042.44% 69.11% - 36.55%
EBIT Q/Q Growth		 214.44% 91.79% -1,954.43% 113.23% -394.87% -315.02% 99.79% -9,860.29% 67.71% - 16.09%
NOPAT Q/Q Growth		 -41.87% 12.55% 35.63% -645.34% 65.90% 26.42% -13.15% -98.95% 46.16% - -18.45%
Net Income Q/Q Growth		 -70.37% 128.78% -385.52% 128.40% -334.70% -476.45% 100.21% -4,018.56% 73.93% - 11.95%
EPS Q/Q Growth		 -16.45% -78.74% -1,031.03% 110.74% -386.21% -67.47% 92.20% -100.00% 72.73% - 26.47%
Operating Cash Flow Q/Q Growth		 -347.55% -212.14% 71.17% -385.25% 42.67% 89.03% 1,088.24% -199.20% 62.73% - -650.76%
Free Cash Flow Firm Q/Q Growth		 -4.70% -109.44% -202.42% -35.03% 107.42% 2,464.26% -137.40% 91.85% -1,259.28% - -392.22%
Invested Capital Q/Q Growth		 12.27% 40.36% -86.52% 55.97% -134.36% -113.89% 76.82% -18.62% 19.80% - 1,878.83%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 -108.10% 335.69% 100.00% -37.90% 7.05% -106.69% 10.68% -23.54% 10.81% - 17.78%
EBITDA Margin		 121.54% 96.36% -164.53% 39.57% -79.66% -353.86% 0.33% -81.26% -24.08% - -19.14%
Operating Margin		 -188.55% -32.59% -7.39% -68.04% -23.47% -18.34% -16.12% -56.92% -29.40% - -20.99%
EBIT Margin		 118.95% 94.95% -165.10% 38.55% -80.48% -354.84% -0.67% -82.75% -25.64% - -26.28%
Profit (Net Income) Margin		 112.41% 107.02% -165.13% 82.74% -137.51% -842.08% 1.56% -75.94% -18.99% - -28.13%
Tax Burden Percent		 95.94% 13,255.06% 100.00% 214.39% 100.06% 286.40% 100.00% 100.00% 100.05% - 100.00%
Interest Burden Percent		 98.49% 0.85% 100.02% 100.13% 170.75% 82.86% -233.25% 91.77% 74.05% - 107.04%
Effective Tax Rate		 4.06% -102.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Invested Capital (ROIC)		 -160.60% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - -12.66%
ROIC Less NNEP Spread (ROIC-NNEP)		 -520.50% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 5.08%
Return on Net Nonoperating Assets (RNNOA)		 41.83% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - -1.36%
Return on Equity (ROE)		 -118.78% -131.70% 117.77% 267.46% 638.54% 2,645.63% -360.50% -403.67% -414.34% - -14.02%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - -115.68%
Operating Return on Assets (OROA)		 57.63% 98.79% -66.94% 25.57% -60.89% -366.65% -0.43% -60.74% -11.53% - -7.92%
Return on Assets (ROA)		 54.46% 111.36% -66.95% 54.89% -104.04% -870.10% 1.01% -55.74% -8.54% - -8.48%
Return on Common Equity (ROCE)		 159.09% -384.82% 982.35% 2,936.30% 8,344.27% 70,550.38% 801.33% 886.71% 1,560.07% - 6.24%
Return on Equity Simple (ROE_SIMPLE)		 -14.90% 0.00% 19.69% 47.34% 41.46% 0.00% 373.47% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 -23 -20 -3.78 -28 -9.61 -7.07 -10 -20 -11 -23 -27
NOPAT Margin		 -180.90% -65.84% -5.17% -68.04% -16.43% -12.84% -16.12% -39.85% -20.58% - -14.70%
Net Nonoperating Expense Percent (NNEP)		 359.89% 4,361.22% -306.84% 250.51% -126.01% -442.72% 5.21% -9.60% 0.44% - -17.74%
Return On Investment Capital (ROIC_SIMPLE)		 - 7.95% - - - 0.70% 7.45% 5.29% 15.77% 5.53% -1,140.04%
Cost of Revenue to Revenue		 208.10% -235.69% 0.00% 137.90% 92.95% 206.69% 89.32% 123.54% 89.19% - 82.22%
SG&A Expenses to Revenue		 77.87% 23.77% 23.46% 29.12% 21.07% 21.33% 25.80% 31.89% 38.66% - 27.14%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 2.99%
Operating Expenses to Revenue		 80.45% 462.28% 107.39% 30.14% 87.51% -148.89% 26.80% 33.39% 40.21% - 38.78%
Earnings before Interest and Taxes (EBIT)		 15 29 -121 16 -47 -195 -0.42 -42 -13 -58 -49
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 15 29 -120 16 -47 -195 0.21 -41 -13 -56 -36
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)		 3.00 2.95 13.90 5.26 8.35 11.18 6.11 8.59 8.55 - 12.04
Price to Earnings (P/E)		 3.21 3.95 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		 31.11% 25.30% 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 0.00 - 6.29
Enterprise Value to Revenue (EV/Rev)		 5.52 5.63 21.21 7.74 11.58 14.70 6.52 10.03 10.18 - 15.50
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 36.21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 40.73 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)		 93.73 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 28.55 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -0.33 -0.16 -0.18 -0.29 0.00 0.00 0.00 0.00 1.37 - 0.46
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.37 - 0.46
Financial Leverage		 -0.08 0.02 0.46 0.60 1.74 4.33 -1.50 -1.35 -1.59 - -0.27
Leverage Ratio		 1.69 -1.40 -1.64 -2.84 -5.08 -9.26 2.36 2.20 4.09 - 2.09
Compound Leverage Factor		 1.66 -0.01 -1.64 -2.84 -8.68 -7.67 -5.52 2.01 3.03 - 2.24
Debt to Total Capital		 -49.96% -18.36% -22.26% -40.71% 0.00% 0.00% 0.00% 0.00% 57.86% - 31.48%
Short-Term Debt to Total Capital		 -49.96% -18.36% -22.26% -40.71% 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% 0.00% 57.86% - 31.48%
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		 -715.72% -481.65% -1,251.39% -3,048.53% -10,850.17% 25,839.91% 141.79% 231.04% 111.98% - 99.86%
Common Equity to Total Capital		 865.69% 600.01% 1,373.65% 3,189.24% 10,950.17% -25,739.91% -41.79% -131.04% -69.85% - -31.33%
Debt to EBITDA		 -5.28 0.65 -0.17 -0.05 0.00 0.00 0.00 0.00 -1.54 - -2.31
Net Debt to EBITDA		 5.48 0.28 1.07 0.50 0.00 0.00 0.00 0.00 1.33 - -0.64
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -1.54 - -2.31
Debt to NOPAT		 -0.53 -0.13 -0.24 -0.07 0.00 0.00 0.00 0.00 -7.08 - -4.12
Net Debt to NOPAT		 0.55 -0.06 1.48 0.70 0.00 0.00 0.00 0.00 6.12 - -1.14
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -7.08 - -4.12
Altman Z-Score		 -2.46 -1.68 -3.74 0.34 -0.06 -0.09 5.57 6.20 2.65 - 2.36
Noncontrolling Interest Sharing Ratio		 233.94% -192.20% -734.12% -997.86% -1,206.77% -2,566.67% 322.28% 319.66% 476.52% - 144.51%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.48 0.39 1.10 0.98 1.77 2.97 4.39 3.70 6.28 - 1.22
Quick Ratio		 0.43 0.26 0.86 0.82 1.48 2.55 4.10 3.56 6.09 - 0.81
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 376 -35 -59 -79 5.87 151 -56 -4.53 -62 -183 -899
Operating Cash Flow to CapEx		 -95.86% -996.26% -405.67% -1,417.69% -1,287.36% -39.89% 317.20% -239.17% -60.78% - -554.56%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -45.85 - -183.98
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -5.34 - -11.21
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -14.13 - -13.23
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.48 1.04 0.41 0.66 0.76 1.03 0.65 0.73 0.45 - 0.30
Accounts Receivable Turnover		 0.00 8.75 2.92 3.86 4.61 7.40 6.73 6.04 5.89 - 4.95
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		 0.00 4.03 2.24 2.52 7.15 10.93 8.81 7.30 6.60 - 2.44
Accounts Payable Turnover		 16.85 0.00 0.00 0.49 2.20 10.56 5.28 8.07 10.19 - 1.62
Days Sales Outstanding (DSO)		 0.00 41.71 124.92 94.53 79.13 49.34 54.22 60.44 61.93 - 73.78
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)		 21.66 0.00 0.00 741.76 165.65 34.56 69.10 45.21 35.82 - 224.99
Cash Conversion Cycle (CCC)		 -21.66 41.71 124.92 -647.23 -86.51 14.78 -14.87 15.23 26.12 - -151.21
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -81 -48 -93 -41 -96 -206 -48 -57 -45 -46 824
Invested Capital Turnover		 0.89 -1.43 -0.45 -1.18 -1.40 -1.80 -3.08 -4.63 -3.11 - 0.86
Increase / (Decrease) in Invested Capital		 -399 15 55 51 -15 -158 46 -16 51 159 871
Enterprise Value (EV)		 582 448 1,163 605 1,435 3,352 1,418 2,267 2,239 - 5,182
Market Capitalization		 316 235 762 411 1,035 2,549 1,328 1,942 1,880 - 4,024
Book Value per Share		 ($3.99) ($2.84) ($4.05) ($1.89) ($3.86) ($7.19) ($0.77) ($2.13) ($2.26) ($4.19) ($1.54)
Tangible Book Value per Share		 ($3.99) ($2.84) ($4.05) ($1.89) ($3.86) ($7.19) ($0.77) ($2.13) ($2.26) ($4.36) ($4.70)
Total Capital		 -40 -44 -36 -7.37 -4.54 3.92 328 291 579 539 1,067
Total Debt		 20 8.00 8.00 3.00 0.00 0.00 0.00 0.00 335 335 336
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 335 335 336
Net Debt		 -21 3.44 -49 -31 -92 -210 -375 -347 -289 -250 92
Capital Expenditures (CapEx)		 7.47 2.24 1.59 2.21 1.39 4.93 6.12 8.05 12 16 9.88
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -73 -46 -38 -33 -19 -15 -42 -57 -64 -91 -154
Debt-free Net Working Capital (DFNWC)		 -32 -42 19 1.10 73 194 333 289 560 494 90
Net Working Capital (NWC)		 -52 -50 11 -1.90 73 194 333 289 560 494 90
Net Nonoperating Expense (NNE)		 -37 -53 117 -62 71 456 -11 18 -0.83 36 25
Net Nonoperating Obligations (NNO)		 -21 3.44 -49 -31 -92 -210 -375 -347 -289 -250 92
Total Depreciation and Amortization (D&A)		 0.33 0.43 0.41 0.42 0.48 0.54 0.62 0.75 0.82 2.15 13
Debt-free, Cash-free Net Working Capital to Revenue		 -69.01% -58.43% -69.98% -41.63% -15.08% -6.72% -19.39% -25.44% -29.12% - -45.94%
Debt-free Net Working Capital to Revenue		 -30.39% -52.70% 34.50% 1.41% 58.84% 85.23% 153.32% 128.09% 254.60% - 26.87%
Net Working Capital to Revenue		 -49.35% -62.75% 19.91% -2.43% 58.84% 85.23% 153.32% 128.09% 254.60% - 26.87%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.89 $0.30 ($2.70) $0.33 ($0.83) ($1.43) ($0.11) ($0.22) ($0.06) ($0.34) ($0.25)
Adjusted Weighted Average Basic Shares Outstanding		 17.41M 17.65M 36.61M 55.09M 67.07M 61.41M 107.08M 117.43M 117.82M 115.43M 147.88M
Adjusted Diluted Earnings per Share		 $1.29 $0.27 ($2.70) $0.29 ($0.83) ($1.39) ($0.11) ($0.22) ($0.06) ($0.34) ($0.25)
Adjusted Weighted Average Diluted Shares Outstanding		 26.13M 25.56M 36.61M 62.28M 67.07M 61.41M 107.08M 117.43M 117.82M 115.43M 147.88M
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		 26.13M 25.56M 124.63M 128.55M 140.35M 178.32M 178.63M 178.72M 180.22M 216.80M 217.02M
Normalized Net Operating Profit after Tax (NOPAT)		 -23 -6.98 -3.78 -20 17 -7.07 -7.05 -20 -11 -23 -27
Normalized NOPAT Margin		 -180.90% -22.81% -5.17% -47.63% 29.50% -12.84% -11.28% -39.85% -20.58% - -14.70%
Pre Tax Income Margin		 117.16% 0.81% -165.13% 38.59% -137.42% -294.03% 1.56% -75.94% -18.98% - -28.13%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -10.00 - -10.05
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -8.03 - -5.62
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -18.79 - -12.07
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -16.82 - -7.64
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 33.20% 23.14% -16.31% -3.97% -0.45% -1.85% 0.00% -1.81% -2.37% - 0.00%
Augmented Payout Ratio		 33.20% 23.14% -16.31% -3.97% -0.45% -1.85% 0.00% -1.81% -2.37% - -4.71%

Financials Breakdown Chart

Key Financial Trends

Here are the key observations for Intuitive Machines (NASDAQ:LUNR) based on the last four years of quarterly statements provided (Q1 2023 through Q4 2025). The bullets highlight the most material trends that retail investors should consider.

  • Strong financing activity in 2025 Q3: Net cash from financing activities was about $296.1 million, signaling substantial external funding to support operations and growth initiatives.
  • Substantial cash on hand in 2025 Q3: Cash and equivalents reached approximately $621.98 million, providing meaningful liquidity for near-term mission work and capex needs.
  • Redeemable noncontrolling interest supports funding level in 2025: Redeemable noncontrolling interest stood around $647.11 million (Q3 2025), indicating a major financing construct backing equity funding.
  • Earlier financing strength in 2024 Q4: Net cash from financing activities was about $124.89 million, reflecting ongoing external funding before the 2025 surge.
  • Revenue has been volatile across quarters: Operating revenue fluctuated notably (e.g., roughly $72–73 million in early 2024 vs about $44.8 million in Q4 2025), suggesting ongoing revenue stabilization efforts rather than steady growth.
  • Capital expenditures (PPE) are a recurring cash outflow: Purchases of property, plant & equipment varied by quarter (e.g., $11.81M in 2025 Q3, $15.65M in 2025 Q4), consistent with ongoing investments in assets to support programs.
  • Persistent net losses and negative earnings per share: The company shows negative net income across recent quarters (e.g., Q4 2025 Consolidated Net Income around -$59.7M; Q3 2025 around -$10.0M) with negative EPS (Q4 2025 Basic EPS -$0.34, Q3 2025 -$0.06).
  • Balance sheet signals equity and leverage concerns: Total equity frequently appears negative in several quarters (e.g., Q3 2025 Total Equity around -$403.28M), and long-term debt rose (Q3 2025 Long-Term Debt about $334.83M), indicating rising leverage and complex equity structure.
  • Significant reliance on flexible financing structures: Substantial Redeemable Noncontrolling Interest combined with large equity-related adjustments point to a capital structure that’s heavily reliant on external and instrument-specific funding rather than traditional equity financings.
05/26/26 04:39 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%.


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Financial statements for NASDAQ:IPAX last updated on 5/18/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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