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Papaya Growth Opportunity Corp. I (PPYAW) Financials

$0.0002 0.00 (0.00%)
As of 10/30/2026
Annual Income Statements for Papaya Growth Opportunity Corp. I

Annual Income Statements for Papaya Growth Opportunity Corp. I

This table shows Papaya Growth Opportunity Corp. I's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders		 1.55 1.89 -1.41
Consolidated Net Income / (Loss)		 1.55 1.89 -1.41
Net Income / (Loss) Continuing Operations		 1.55 1.89 -1.41
Total Pre-Tax Income 		2.19 3.98 -1.25
Total Operating Income		 -2.13 -2.11 -1.70
Total Gross Profit		 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00
Total Operating Expenses		 2.13 2.11 1.70
Selling, General & Admin Expense		 1.93 1.91 1.70
Other Operating Expenses / (Income)		 0.20 0.20 0.00
Total Other Income / (Expense), net		 4.32 6.09 0.45
Interest & Investment Income		 0.50 5.61 0.45
Income Tax Expense		 0.64 2.10 0.16
Basic Earnings per Share		 $1.23 $0.82 ($0.23)
Weighted Average Basic Shares Outstanding		 36.16M 21.42M 9.79M
Diluted Earnings per Share		 $1.23 $0.82 ($0.23)
Weighted Average Diluted Shares Outstanding		 36.16M 21.42M 9.79M

Quarterly Income Statements for Papaya Growth Opportunity Corp. I

This table shows Papaya Growth Opportunity Corp. I'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
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
Net Income / (Loss) Attributable to Common Shareholders		 0.16 -0.26 -0.40 -0.21 -0.33 -0.48 -0.88 -0.92 -0.37
Consolidated Net Income / (Loss)		 0.16 -0.26 -0.40 -0.21 -0.33 -0.48 -0.88 -0.92 -0.37
Net Income / (Loss) Continuing Operations		 0.16 -0.26 -0.40 -0.21 -0.33 -0.48 -0.88 -0.92 -0.37
Total Pre-Tax Income 		0.46 -0.17 -0.35 -0.18 -0.32 -0.40 -0.88 -0.91 -0.37
Total Operating Income		 -0.56 -0.48 -0.55 -0.27 -0.41 -0.48 -0.90 -0.92 -0.38
Total Gross Profit		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00
Total Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00
Total Operating Expenses		 0.56 0.48 0.55 0.27 0.41 0.48 0.90 0.92 0.38
Selling, General & Admin Expense		 0.51 0.43 0.56 0.24 0.38 0.53 0.90 0.92 0.37
Other Operating Expenses / (Income)		 0.05 0.05 -0.01 0.03 0.03 -0.05 - - 0.00
Total Other Income / (Expense), net		 1.02 0.31 0.20 0.09 0.09 0.08 0.02 0.01 0.01
Interest & Investment Income		 1.02 0.31 0.20 0.09 0.09 0.08 0.02 0.01 0.01
Income Tax Expense		 0.30 0.09 0.05 0.03 0.02 0.07 0.01 0.00 0.00
Basic Earnings per Share		 $0.20 $0.37 ($0.04) ($0.02) ($0.03) ($0.18) ($0.80) ($0.10) ($0.04)
Weighted Average Basic Shares Outstanding		 16.13M 21.42M 10.34M 9.60M 9.60M 9.79M 1.08M 8.98M 8.98M
Diluted Earnings per Share		 $0.20 $0.37 ($0.04) ($0.02) ($0.03) ($0.18) ($0.80) ($0.10) ($0.04)
Weighted Average Diluted Shares Outstanding		 16.13M 21.42M 10.34M 9.60M 9.60M 9.79M 1.08M 8.98M 8.98M

Annual Cash Flow Statements for Papaya Growth Opportunity Corp. I

This table details how cash moves in and out of Papaya Growth Opportunity Corp. I's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents		 0.30 -0.32 0.00
Net Cash From Operating Activities		 -2.06 -4.36 -1.36
Net Cash From Continuing Operating Activities		 -2.06 -4.36 -1.36
Net Income / (Loss) Continuing Operations		 1.55 1.89 -1.41
Consolidated Net Income / (Loss)		 1.55 1.89 -1.41
Non-Cash Adjustments To Reconcile Net Income		 -4.32 -6.09 -0.37
Changes in Operating Assets and Liabilities, net		 0.71 -0.15 0.42
Net Cash From Investing Activities		 -293 279 17
Net Cash From Continuing Investing Activities		 -293 279 17
Other Investing Activities, net		 -293 279 17
Net Cash From Financing Activities		 296 -275 -16
Net Cash From Continuing Financing Activities		 296 -275 -16
Repurchase of Common Equity		 -0.40 -277 -17
Issuance of Debt		 0.00 2.62 1.38
Cash Income Taxes Paid		 0.06 2.69 0.08

Quarterly Cash Flow Statements for Papaya Growth Opportunity Corp. I

This table details how cash moves in and out of Papaya Growth Opportunity Corp. I'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
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
Net Change in Cash & Equivalents		 -0.01 -0.00 -0.00 0.01 -0.01 0.00 0.00 -0.01 0.05
Net Cash From Operating Activities		 -0.73 -0.33 -0.28 -0.52 -0.39 -0.17 -0.02 -0.03 0.05
Net Cash From Continuing Operating Activities		 -0.73 -0.33 -0.28 -0.52 -0.39 -0.17 -0.02 -0.03 0.05
Net Income / (Loss) Continuing Operations		 0.16 -0.26 -0.40 -0.21 -0.33 -0.48 -0.88 -0.92 -0.37
Consolidated Net Income / (Loss)		 0.16 -0.26 -0.40 -0.21 -0.33 -0.48 -0.88 -0.92 -0.37
Non-Cash Adjustments To Reconcile Net Income		 -1.02 -0.31 -0.20 -0.09 -0.09 0.01 0.31 0.03 0.11
Changes in Operating Assets and Liabilities, net		 0.12 0.24 0.32 -0.23 0.04 0.30 0.56 0.86 0.30

Annual Balance Sheets for Papaya Growth Opportunity Corp. I

This table presents Papaya Growth Opportunity Corp. I'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
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets		 0.28 298 25 8.20
Total Current Assets		 0.02 0.58 0.14 0.16
Cash & Equivalents		 0.02 0.32 0.00 0.01
Note & Lease Receivable		 - 0.00 0.05 0.03
Prepaid Expenses		 0.00 0.22 0.04 0.13
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 0.25 298 25 8.04
Other Noncurrent Operating Assets		 0.25 298 25 8.04
Total Liabilities & Shareholders' Equity		 0.28 298 25 8.20
Total Liabilities		 0.28 16 21 23
Total Current Liabilities		 0.28 16 21 23
Short-Term Debt		 0.15 0.00 2.62 4.00
Accounts Payable		 0.05 0.22 0.48 0.77
Current Deferred & Payable Income Tax Liabilities		 0.00 0.03 0.00 0.04
Other Taxes Payable		 - 0.00 2.77 2.95
Other Current Liabilities		 0.00 0.22 0.21 16
Total Noncurrent Liabilities		 0.00 0.56 0.00 0.00
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 0.00 293 25 8.04
Total Equity & Noncontrolling Interests		 -0.01 -11 -21 -23
Total Preferred & Common Equity		 -0.01 -11 -21 -23
Preferred Stock		 0.00 - - 0.00
Total Common Equity		 -0.01 -11 -21 -23
Common Stock		 0.03 0.00 0.00 0.00
Retained Earnings		 -0.03 -11 -21 -23

Quarterly Balance Sheets for Papaya Growth Opportunity Corp. I

This table presents Papaya Growth Opportunity Corp. I'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
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025
Total Assets		 25 8.01 7.99 8.18 1.21 1.13 1.15
Total Current Assets		 0.29 0.18 0.13 0.24 0.19 0.11 0.13
Cash & Equivalents		 0.00 0.00 0.01 0.00 0.01 0.00 0.05
Note & Lease Receivable		 0.11 0.03 0.03 0.03 0.00 0.00 0.00
Prepaid Expenses		 0.14 0.15 0.07 0.17 0.18 0.11 0.07
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 25 7.83 7.85 7.94 1.03 1.01 1.02
Other Noncurrent Operating Assets		 25 7.83 7.85 7.94 1.03 1.01 1.02
Total Liabilities & Shareholders' Equity		 25 8.01 7.99 8.18 1.21 1.13 1.15
Total Liabilities		 21 22 22 23 24 10 10
Total Current Liabilities		 21 22 22 23 24 10 10
Short-Term Debt		 2.33 2.96 3.43 3.81 4.00 4.00 4.00
Accounts Payable		 0.39 0.83 0.53 0.63 1.34 2.12 2.34
Current Deferred & Payable Income Tax Liabilities		 0.00 0.03 0.01 0.01 0.03 0.01 0.01
Other Taxes Payable		 2.77 2.94 2.94 2.95 3.02 3.02 3.02
Other Current Liabilities		 15 15 15 15 16 0.88 1.05
Total Noncurrent Liabilities		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 25 7.83 7.85 7.94 1.03 1.01 1.02
Total Equity & Noncontrolling Interests		 -20 -22 -22 -23 -24 -9.91 -10
Total Preferred & Common Equity		 -20 -22 -22 -23 -24 -9.91 -10
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -20 -22 -22 -23 -24 -9.91 -10
Common Stock		 0.00 0.00 0.00 0.00 0.00 15 15
Retained Earnings		 -20 -22 -22 -23 -24 -25 -25

Annual Metrics And Ratios for Papaya Growth Opportunity Corp. I

This table displays calculated financial ratios and metrics derived from Papaya Growth Opportunity Corp. I's official financial filings.

Metric 2022 2023 2024
Period end date 12/31/2022 12/31/2023 12/31/2024
Growth Metrics		 - - -
Revenue Growth		 0.00% 0.00% 0.00%
EBITDA Growth		 0.00% -196.14% -4.47%
EBIT Growth		 0.00% -196.14% -4.47%
NOPAT Growth		 0.00% 33.81% -19.26%
Net Income Growth		 0.00% 21.59% -174.75%
EPS Growth		 0.00% -33.33% -128.05%
Operating Cash Flow Growth		 0.00% -111.72% 68.75%
Free Cash Flow Firm Growth		 0.00% 0.00% -94.00%
Invested Capital Growth		 0.00% -97.68% -270.45%
Revenue Q/Q Growth		 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 28.98% -0.05%
EBIT Q/Q Growth		 0.00% 28.98% -0.05%
NOPAT Q/Q Growth		 0.00% 22.16% -0.05%
Net Income Q/Q Growth		 0.00% -43.89% -17.74%
EPS Q/Q Growth		 0.00% 241.67% -171.88%
Operating Cash Flow Q/Q Growth		 0.00% 3.22% 10.33%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% -0.84%
Invested Capital Q/Q Growth		 0.00% -6.10% -2.63%
Profitability Metrics		 - - -
Gross Margin		 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00%
Tax Burden Percent		 70.81% 47.35% 113.08%
Interest Burden Percent		 129.37% -244.68% 73.31%
Effective Tax Rate		 29.19% 52.65% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00%
Return on Equity (ROE)		 1.10% 1.32% 25.14%
Cash Return on Invested Capital (CROIC)		 0.00% 190.25% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -0.04% -0.15% 99.16%
Return on Equity Simple (ROE_SIMPLE)		 -13.78% -8.95% 6.09%
Net Operating Profit after Tax (NOPAT)		 -1.51 -1.00 -1.19
NOPAT Margin		 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 955.41% -250.48% 6.63%
Return On Investment Capital (ROIC_SIMPLE)		 - 5.41% 6.21%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 1.69 -1.63 -1.70
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1.69 -1.63 -1.70
Valuation Ratios		 - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 0.00 0.00
Price to Earnings (P/E)		 248.02 64.03 0.00
Dividend Yield		 0.00% 0.00% 0.00%
Earnings Yield		 0.40% 1.56% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 2.41 22.73 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 400.30 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 400.30 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.54 7.30
Leverage & Solvency		 - - -
Debt to Equity		 0.00 0.67 -0.26
Long-Term Debt to Equity		 0.00 0.00 0.00
Financial Leverage		 0.00 0.01 -0.59
Leverage Ratio		 1.06 1.13 -2.97
Compound Leverage Factor		 1.37 -2.77 -2.18
Debt to Total Capital		 0.00% 40.21% -35.99%
Short-Term Debt to Total Capital		 0.00% 40.21% -35.99%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 103.99% 382.75% -72.33%
Common Equity to Total Capital		 -3.99% -322.96% 208.32%
Debt to EBITDA		 0.00 -1.61 -2.35
Net Debt to EBITDA		 0.00 -1.61 -2.35
Long-Term Debt to EBITDA		 0.00 0.00 0.00
Debt to NOPAT		 0.00 -2.63 -3.36
Net Debt to NOPAT		 0.00 -2.63 -3.36
Long-Term Debt to NOPAT		 0.00 0.00 0.00
Altman Z-Score		 14.20 1.02 -5.24
Noncontrolling Interest Sharing Ratio		 103.99% 111.31% -294.45%
Liquidity Ratios		 - - -
Current Ratio		 0.04 0.01 0.01
Quick Ratio		 0.02 0.00 0.00
Cash Flow Metrics		 - - -
Free Cash Flow to Firm (FCFF)		 0.00 274 16
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00
Efficiency Ratios		 - - -
Asset Turnover		 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00
Capital & Investment Metrics		 - - -
Invested Capital		 282 6.52 -11
Invested Capital Turnover		 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 -275 -18
Enterprise Value (EV)		 677 148 120
Market Capitalization		 385 121 108
Book Value per Share		 ($0.30) ($1.88) ($2.41)
Tangible Book Value per Share		 ($0.30) ($1.88) ($2.41)
Total Capital		 282 6.53 -11
Total Debt		 0.00 2.62 4.00
Total Long-Term Debt		 0.00 0.00 0.00
Net Debt		 -0.32 2.62 3.99
Capital Expenditures (CapEx)		 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -15 -18 -19
Debt-free Net Working Capital (DFNWC)		 -15 -18 -19
Net Working Capital (NWC)		 -15 -21 -23
Net Nonoperating Expense (NNE)		 -3.06 -2.88 0.22
Net Nonoperating Obligations (NNO)		 -0.32 2.62 3.99
Total Depreciation and Amortization (D&A)		 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00%
Earnings Adjustments		 - - -
Adjusted Basic Earnings per Share		 $1.23 $0.00 ($0.23)
Adjusted Weighted Average Basic Shares Outstanding		 36.16M 0.00 9.79M
Adjusted Diluted Earnings per Share		 $1.23 $0.00 ($0.23)
Adjusted Weighted Average Diluted Shares Outstanding		 36.16M 0.00 9.79M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 37.64M 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 -1.51 -1.47 -1.19
Normalized NOPAT Margin		 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00%
Debt Service Ratios		 - - -
EBIT to Interest Expense		 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00
Payout Ratios		 - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00%
Augmented Payout Ratio		 26.10% 14,704.13% -1,236.82%

Quarterly Metrics And Ratios for Papaya Growth Opportunity Corp. I

This table displays calculated financial ratios and metrics derived from Papaya Growth Opportunity Corp. I's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
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
DEI Shares Outstanding		 7,528,875.00 11,197,582.00 0.00 0.00 9,604,904.00 - 9,604,904.00 8,239,404.00 8,239,404.00
DEI Adjusted Shares Outstanding		 7,528,875.00 11,197,582.00 0.00 0.00 9,604,904.00 - 9,604,904.00 8,239,404.00 8,239,404.00
DEI Earnings Per Adjusted Shares Outstanding		 0.02 -0.02 0.00 0.00 -0.03 - -0.09 -0.11 -0.04
Growth Metrics		 - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 -235.94% 27.65% -190.95% 33.71% 27.25% -0.17% -64.02% -246.93% 7.24%
EBIT Growth		 -235.94% 27.65% -190.95% 33.71% 27.25% -0.17% -64.02% -246.93% 7.24%
NOPAT Growth		 65.83% 22.64% -34.00% 36.76% -48.22% -0.17% -64.02% -246.93% 7.24%
Net Income Growth		 -82.57% -121.75% -139.34% -120.86% -310.19% -80.60% -122.70% -346.43% -11.06%
EPS Growth		 400.00% 276.19% -116.00% 0.00% -115.00% -148.65% -1,900.00% -400.00% -33.33%
Operating Cash Flow Growth		 -85.08% 30.52% 54.38% 80.48% 47.32% 47.53% 94.12% 94.53% 112.52%
Free Cash Flow Firm Growth		 0.00% 0.00% 5,784.70% -48.79% -93.59% -93.70% -97.50% -106.78% -133.07%
Invested Capital Growth		 -97.52% -97.68% -103.93% -112.48% -255.96% -270.45% -71.56% 55.03% 50.98%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 -39.04% 13.60% -13.58% 51.41% -52.60% -18.95% -85.97% -2.77% 59.20%
EBIT Q/Q Growth		 -39.04% 13.60% -13.58% 51.41% -52.60% -18.95% -85.97% -2.77% 59.20%
NOPAT Q/Q Growth		 34.90% -76.01% -13.58% 51.41% -52.60% -18.95% -85.97% -2.77% 59.20%
Net Income Q/Q Growth		 -83.93% -266.64% -50.31% 48.17% -61.90% -43.18% -85.35% -3.91% 59.73%
EPS Q/Q Growth		 0.00% 85.00% -110.81% 50.00% -50.00% -500.00% -344.44% 87.50% 60.00%
Operating Cash Flow Q/Q Growth		 72.64% 55.05% 15.94% -88.84% 26.17% 55.23% 90.57% -75.45% 269.07%
Free Cash Flow Firm Q/Q Growth		 42.71% 0.72% 6.96% -66.69% -82.13% -1.10% -57.57% -190.35% 12.77%
Invested Capital Q/Q Growth		 -92.03% -6.10% -270.73% 2.29% 0.44% -2.63% -71.84% 74.39% -8.53%
Profitability Metrics		 - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 34.36% 151.89% 113.14% 116.32% 105.27% 117.71% 100.66% 100.23% 100.56%
Interest Burden Percent		 -82.58% 36.03% 64.01% 66.42% 77.87% 83.82% 97.70% 99.20% 97.60%
Effective Tax Rate		 65.64% 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% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 2.35% 1.32% 0.36% -1.97% 23.88% 25.14% 10.19% 22.47% 22.12%
Cash Return on Invested Capital (CROIC)		 0.00% 190.25% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -0.27% -0.15% -0.05% 1.10% 101.55% 99.16% 12.61% 31.06% 30.41%
Return on Equity Simple (ROE_SIMPLE)		 -16.77% 0.00% 0.00% 0.00% 5.30% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.19 -0.34 -0.38 -0.19 -0.28 -0.34 -0.63 -0.65 -0.26
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -45.48% -6.39% 0.90% 0.82% 1.58% 4.18% 7.31% 7.31% 2.73%
Return On Investment Capital (ROIC_SIMPLE)		 - 1.83% 2.02% 0.99% - 1.76% 3.12% 10.92% 4.19%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 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%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -0.56 -0.48 -0.55 -0.27 -0.41 -0.48 -0.90 -0.92 -0.38
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.56 -0.48 -0.55 -0.27 -0.41 -0.48 -0.90 -0.92 -0.38
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
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
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 59.63 64.03 184.87 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%
Earnings Yield		 1.68% 1.56% 0.54% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 32.72 22.73 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 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
Enterprise Value to EBIT (EV/EBIT)		 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
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
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.54 0.34 1.12 7.12 7.30 16.80 0.00 0.00
Leverage & Solvency		 - - - - - - - - -
Debt to Equity		 0.51 0.67 -0.21 -0.24 -0.26 -0.26 -0.17 -0.45 -0.43
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 0.01 0.01 0.01 0.07 -0.61 -0.59 -0.19 -0.32 -0.32
Leverage Ratio		 1.13 1.13 1.15 1.57 -3.35 -2.97 -0.25 -0.39 -0.39
Compound Leverage Factor		 -0.93 0.41 0.73 1.04 -2.61 -2.49 -0.24 -0.39 -0.38
Debt to Total Capital		 33.60% 40.21% -26.59% -31.54% -35.13% -35.99% -20.94% -81.75% -76.02%
Short-Term Debt to Total Capital		 33.60% 40.21% -26.59% -31.54% -35.13% -35.99% -20.94% -81.75% -76.02%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 354.76% 382.75% -70.29% -72.23% -73.30% -72.33% -5.38% -20.71% -19.43%
Common Equity to Total Capital		 -288.36% -322.96% 196.88% 203.76% 208.42% 208.32% 126.32% 202.47% 195.45%
Debt to EBITDA		 -1.02 -1.61 -1.49 -1.85 -2.24 -2.35 -1.95 -1.48 -1.49
Net Debt to EBITDA		 -1.02 -1.61 -1.49 -1.85 -2.24 -2.35 -1.95 -1.48 -1.48
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -1.82 -2.63 -3.95 -2.65 -3.20 -3.36 -2.79 -2.11 -2.14
Net Debt to NOPAT		 -1.82 -2.63 -3.95 -2.64 -3.20 -3.36 -2.78 -2.11 -2.11
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 3.64 1.17 -4.92 -4.72 -4.55 -4.75 -51.54 -38.95 -37.55
Noncontrolling Interest Sharing Ratio		 111.39% 111.31% 114.08% 155.89% -325.21% -294.45% -23.80% -38.23% -37.50%
Liquidity Ratios		 - - - - - - - - -
Current Ratio		 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Quick Ratio		 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01
Cash Flow Metrics		 - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 273 275 294 98 17 17 7.34 -6.63 -5.79
Operating Cash Flow to CapEx		 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		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 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
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 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
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 6.95 6.52 -11 -11 -11 -11 -19 -4.89 -5.31
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 -273 -275 -294 -98 -18 -18 -7.97 5.99 5.52
Enterprise Value (EV)		 227 148 100 108 118 120 110 95 96
Market Capitalization		 200 121 89 97 106 108 105 90 91
Book Value per Share		 ($1.07) ($1.88) ($2.66) ($2.69) ($2.35) ($2.41) ($2.51) ($1.20) ($1.25)
Tangible Book Value per Share		 ($1.07) ($1.88) ($2.66) ($2.69) ($2.35) ($2.41) ($2.51) ($1.20) ($1.25)
Total Capital		 6.95 6.53 -11 -11 -11 -11 -19 -4.89 -5.26
Total Debt		 2.33 2.62 2.96 3.43 3.81 4.00 4.00 4.00 4.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 2.33 2.62 2.96 3.42 3.80 3.99 3.99 4.00 3.95
Capital Expenditures (CapEx)		 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)		 -18 -18 -19 -19 -19 -19 -20 -5.91 -6.33
Debt-free Net Working Capital (DFNWC)		 -18 -18 -19 -19 -19 -19 -20 -5.91 -6.28
Net Working Capital (NWC)		 -20 -21 -22 -22 -23 -23 -24 -9.91 -10
Net Nonoperating Expense (NNE)		 -0.35 -0.07 0.01 0.02 0.05 0.14 0.25 0.27 0.11
Net Nonoperating Obligations (NNO)		 2.33 2.62 2.96 3.42 3.80 3.99 3.99 4.00 3.95
Total Depreciation and Amortization (D&A)		 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 to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.23 $0.37 $0.00 ($0.02) ($0.03) ($0.18) ($0.80) ($0.10) ($0.04)
Adjusted Weighted Average Basic Shares Outstanding		 16.13M 21.42M 10.34M 9.60M 9.60M 9.79M 1.08M 8.98M 8.98M
Adjusted Diluted Earnings per Share		 $0.23 $0.37 $0.00 ($0.02) ($0.03) ($0.18) ($0.80) ($0.10) ($0.04)
Adjusted Weighted Average Diluted Shares Outstanding		 16.13M 21.42M 10.34M 9.60M 9.60M 9.79M 1.08M 8.98M 8.98M
Adjusted Basic & Diluted Earnings per Share		 $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		 11.20M 8.24M 0.00 9.60M 9.60M 0.00 0.00 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 -0.39 -0.34 -0.38 -0.19 -0.28 -0.34 -0.63 -0.65 -0.26
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 8,250.74% 14,704.13% 61,042.83% -13,905.77% -1,456.23% -1,236.82% -371.24% -269.96% -266.21%

Financials Breakdown Chart

Key Financial Trends

Papaya Growth Opportunity Corp. I (NASDAQ: PPYA) remains a pre-revenue company with significant financial strain. The company reported no revenue in each of the available 2024 and 2025 quarterly income statements. Although its third-quarter 2025 net loss improved to $369,023 from losses of $916,263 in the second quarter and $881,821 in the first quarter, PPYA continues to depend on financing and balance-sheet adjustments rather than operating revenue.

There were some sequential improvements in the latest quarter. Selling, general and administrative expense declined to $374,300 in Q3 2025 from $921,576 in Q2 and $896,700 in Q1. Operating cash flow also turned positive at $48,422, compared with negative operating cash flow of $28,640 in Q2 and $16,324 in Q1. However, this improvement was largely supported by changes in operating assets and liabilities, not by revenue generation.

  • Net loss narrowed materially: Q3 2025 net loss of $369,023 was approximately 60% lower than the second-quarter loss and 58% lower than the first-quarter loss.
  • Operating expenses declined: SG&A fell to $374,300 in Q3 2025, the lowest reported level in the available 2024–2025 period.
  • Operating cash flow improved: PPYA generated $48,422 of operating cash in Q3 2025 after reporting negative operating cash flow in the first two quarters of the year.
  • Cash increased sequentially: Cash and equivalents rose from just $432 at June 30, 2025, to $48,854 at September 30, 2025.
  • Interest income provided a recurring offset: Interest and investment income was $9,026 in Q3 2025, down modestly from $18,512 in Q1 and $8,977 in Q2. This income helped reduce losses but does not represent operating revenue.
  • Share counts changed substantially: Weighted-average shares declined from 21.4 million in Q4 2023 to 8.98 million in Q2 and Q3 2025, helping reduce the per-share impact of losses. Changes in the share count may also reflect substantial equity repurchases and corporate restructuring.
  • PPYA has not generated revenue: Reported revenue was zero in every available quarterly income statement, leaving the company without an identifiable operating sales base.
  • Losses have accumulated: Retained earnings deteriorated from negative $20.0 million at September 30, 2023, to negative $25.4 million at September 30, 2025. Common equity remained deeply negative at approximately negative $10.3 million in Q3 2025.
  • Liquidity is extremely weak: Q3 2025 current assets totaled $126,412 versus current liabilities of $10.4 million, producing a current ratio of roughly 0.01. Cash alone covered less than 1% of current liabilities.
  • Cash generation remains dependent on non-operating factors: The Q3 operating cash inflow was supported by $303,760 from changes in operating assets and liabilities, while the company still posted a $369,023 net loss. PPYA may need additional financing or restructuring to fund ongoing obligations.

Overall, the latest quarter shows sequential cost and loss improvement, but the underlying financial position remains highly distressed. PPYA’s zero-revenue model, negative equity, large current-liability burden and limited cash balance outweigh the recent improvement in operating cash flow. Investors should closely monitor future filings for evidence of revenue generation, debt repayment, additional capital raising and any improvement in shareholder equity.

11/01/26 07:00 AM ETAI Generated. May Contain Errors.

Papaya Growth Opportunity Corp. I Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Papaya Growth Opportunity Corp. I's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

Papaya Growth Opportunity Corp. I's net income appears to be on a downward trend, with a most recent value of -$1.41 million in 2024, compared with $1.55 million in 2022. The previous period was $1.89 million in 2023.

Papaya Growth Opportunity Corp. I's total operating income in 2024 was -$1.70 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $1.70 million

Over the last 2 years, Papaya Growth Opportunity Corp. I's total revenue changed from $0.00 in 2022 to $0.00 in 2024, a change of 0.0%.

In the past 8 quarters, Papaya Growth Opportunity Corp. I's cash and equivalents has ranged from $398.00 in Q1 2024 to $48.85 thousand in Q3 2025, and is currently $48.85 thousand as of their latest financial filing in Q3 2025.

Papaya Growth Opportunity Corp. I had total debt of $4 million at the end of 2024, a 52.4% increase from 2023, and none in 2022.

Over the last 2 years, Papaya Growth Opportunity Corp. I's book value per share changed from -0.30 in 2022 to -2.41 in 2024, a change of -706.7%.



Financial statements for NASDAQ:PPYAW last updated on 7/21/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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