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Spark I Acquisition (SPKLW) Financials

$0.84 0.00 (0.00%)
As of 10/12/2026
Annual Income Statements for Spark I Acquisition

Annual Income Statements for Spark I Acquisition

This table shows Spark I 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		 -1.33 -0.73 3.15 0.29
Consolidated Net Income / (Loss)		 -1.33 -0.73 3.15 0.29
Net Income / (Loss) Continuing Operations		 -1.33 -0.73 3.15 0.29
Total Pre-Tax Income 		-1.33 -0.73 3.15 0.29
Total Operating Income		 -1.33 -1.91 -2.10 -2.59
Total Gross Profit		 0.00 0.00 0.00 0.00
Total Revenue		 0.00 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00 0.00
Total Operating Expenses		 1.33 1.91 2.10 2.59
Selling, General & Admin Expense		 0.07 0.66 0.85 1.57
Other Operating Expenses / (Income)		 1.26 1.25 1.25 1.01
Total Other Income / (Expense), net		 0.00 1.18 5.25 2.88
Interest & Investment Income		 0.00 1.18 0.00 0.00
Other Income / (Expense), net		 - - 5.25 2.88
Basic Earnings per Share		 - ($0.16) $0.38 $0.04
Weighted Average Basic Shares Outstanding		 6.42M 8.99M 16.42M 12.70M
Diluted Earnings per Share		 - ($0.16) $0.38 $0.04
Weighted Average Diluted Shares Outstanding		 - 0.00 0.00 0.00
Weighted Average Basic & Diluted Shares Outstanding		 - 8.99M 16.42M 12.70M

Quarterly Income Statements for Spark I Acquisition

This table shows Spark I 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
Net Income / (Loss) Attributable to Common Shareholders		 0.51 0.77 0.87 0.90 0.61 0.54 0.36 -0.48 -0.14 -0.09 -1.65
Consolidated Net Income / (Loss)		 0.51 0.77 0.87 0.90 0.61 0.54 0.36 -0.48 -0.14 -0.09 -1.65
Net Income / (Loss) Continuing Operations		 0.51 0.77 0.87 0.90 0.61 0.54 0.36 -0.48 -0.14 -0.09 -1.65
Total Pre-Tax Income 		0.51 0.77 0.87 0.90 0.61 0.54 0.36 -0.48 -0.14 -0.09 -1.65
Total Operating Income		 -0.66 -0.56 -0.47 -0.45 -0.62 -0.58 -0.76 -0.87 -0.38 -0.32 -1.88
Total Gross Profit		 - 0.00 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 0.00
Total Cost of Revenue		 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00 0.00
Total Operating Expenses		 0.66 0.56 0.47 0.45 0.62 0.58 0.76 0.87 0.38 0.32 1.88
Selling, General & Admin Expense		 -0.44 0.23 0.14 0.14 0.33 0.31 0.48 0.60 0.19 0.16 1.70
Other Operating Expenses / (Income)		 1.11 0.32 0.33 0.31 0.28 0.27 0.29 0.27 0.18 0.16 0.18
Total Other Income / (Expense), net		 1.18 1.33 1.34 1.36 1.22 1.12 1.13 0.39 0.24 0.22 0.23
Interest & Investment Income		 1.18 1.33 0.00 0.00 3.92 1.12 0.00 0.00 -1.12 0.22 0.00
Other Income / (Expense), net		 - - 1.34 1.36 - - 1.13 0.39 - - 0.23
Basic Earnings per Share		 $0.04 $0.10 $0.10 $0.05 - $0.06 $0.04 ($0.05) ($0.01) ($0.02) ($0.38)
Weighted Average Basic Shares Outstanding		 8.99M 10M 16.42M 10M 16.42M 16.42M 16.42M 3.00M 12.70M 8.66M 8.66M
Diluted Earnings per Share		 $0.04 $0.10 $0.10 $0.10 $0.38 $0.06 $0.04 ($0.10) $0.04 ($0.02) ($0.38)
Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 6.42M 0.00 16.42M 16.42M 6.42M 0.00 8.66M 8.66M
Weighted Average Basic & Diluted Shares Outstanding		 8.99M 16.42M 16.42M 10M 16.42M 0.00 6.42M 3.00M 12.70M 8.66M 8.66M

Annual Cash Flow Statements for Spark I Acquisition

This table details how cash moves in and out of Spark I 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		 0.34 0.82 -1.03 -0.26
Net Cash From Operating Activities		 -1.14 -1.33 -1.87 -2.46
Net Cash From Continuing Operating Activities		 -1.14 -1.33 -1.87 -2.46
Net Income / (Loss) Continuing Operations		 -1.33 -0.73 3.15 0.29
Consolidated Net Income / (Loss)		 -1.33 -0.73 3.15 0.29
Non-Cash Adjustments To Reconcile Net Income		 - -1.09 -5.15 -2.78
Changes in Operating Assets and Liabilities, net		 0.19 0.48 0.13 0.02
Net Cash From Investing Activities		 0.00 -101 0.00 85
Net Cash From Continuing Investing Activities		 0.00 -101 0.00 85
Other Investing Activities, net		 - - 0.00 85
Net Cash From Financing Activities		 1.48 103 0.84 -82
Net Cash From Continuing Financing Activities		 1.48 103 0.84 -82
Repurchase of Common Equity		 - - 0.00 -85
Issuance of Debt		 1.75 1.00 0.84 2.40

Quarterly Cash Flow Statements for Spark I Acquisition

This table details how cash moves in and out of Spark I 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		 1.29 -0.47 -0.46 -0.39 0.29 0.11 0.61 -0.49 -0.50 0.02 0.27
Net Cash From Operating Activities		 0.14 -0.47 -0.46 -0.39 -0.55 -0.49 -0.49 -1.09 -0.40 -0.38 -0.29
Net Cash From Continuing Operating Activities		 0.14 -0.47 -0.46 -0.39 -0.55 -0.49 -0.49 -1.09 -0.40 -0.38 -0.29
Net Income / (Loss) Continuing Operations		 0.51 0.77 0.87 0.90 0.61 0.54 0.36 -0.48 -0.14 -0.09 -1.65
Consolidated Net Income / (Loss)		 0.51 0.77 0.87 0.90 0.61 0.54 0.36 -0.48 -0.14 -0.09 -1.65
Non-Cash Adjustments To Reconcile Net Income		 -1.21 -1.23 -1.40 -1.35 -1.17 -1.02 -0.89 -0.66 -0.21 -0.26 1.35
Changes in Operating Assets and Liabilities, net		 0.84 -0.01 0.07 0.06 0.02 -0.01 0.04 0.05 -0.06 -0.03 0.01
Net Cash From Investing Activities		 -101 0.00 - - - 0.00 - 85 -0.10 -0.10 -0.10
Net Cash From Continuing Investing Activities		 -101 0.00 - - - 0.00 - 85 -0.10 -0.10 -0.10
Other Investing Activities, net		 - - - - - 0.00 - - -0.10 -0.10 -0.10
Net Cash From Financing Activities		 102 0.00 - - 0.84 0.60 1.10 -84 - 0.50 0.66
Net Cash From Continuing Financing Activities		 102 0.00 - - 0.84 0.60 1.10 -84 - 0.50 0.66
Issuance of Debt		 - 0.00 - - 0.84 0.60 1.10 0.70 - 0.50 0.66

Annual Balance Sheets for Spark I Acquisition

This table presents Spark I 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 2022 2023 2024 2025
Period end date 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1.30 103 107 25
Total Current Assets		 0.68 1.56 0.48 0.19
Cash & Equivalents		 0.59 1.40 0.38 0.11
Prepaid Expenses		 0.09 0.16 0.10 0.08
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 0.63 102 107 25
Long-Term Investments		 - 102 107 25
Total Liabilities & Shareholders' Equity		 1.30 103 107 25
Total Liabilities		 3.07 3.91 4.85 7.35
Total Current Liabilities		 3.07 0.41 1.35 3.85
Short-Term Debt		 2.75 0.00 0.00 1.54
Accrued Expenses		 0.32 0.41 0.51 0.60
Other Current Liabilities		 - - 0.84 1.70
Total Noncurrent Liabilities		 0.00 3.50 3.50 3.50
Noncurrent Employee Benefit Liabilities		 - 3.50 3.50 3.50
Other Noncurrent Operating Liabilities		 - - 0.00 0.00
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - 102 107 25
Total Equity & Noncontrolling Interests		 -1.76 -2.27 -4.37 -7.15
Total Preferred & Common Equity		 -1.76 -2.27 -4.37 -7.15
Preferred Stock		 0.00 0.00 0.00 0.00
Total Common Equity		 -1.76 -2.27 -4.37 -7.15
Common Stock		 0.03 0.25 0.00 0.00
Retained Earnings		 -1.79 -2.52 -4.37 -7.15

Quarterly Balance Sheets for Spark I Acquisition

This table presents Spark I 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 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 1.18 104 105 106 109 110 25 26 26
Total Current Assets		 0.18 1.13 0.63 0.21 0.60 1.18 0.64 0.24 0.50
Cash & Equivalents		 0.11 0.93 0.47 0.08 0.49 1.10 0.61 0.13 0.40
Prepaid Expenses		 0.07 0.20 0.16 0.12 0.12 0.07 0.03 0.11 0.10
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 1.00 103 104 106 108 109 25 25 26
Long-Term Investments		 - 103 104 106 108 - 25 25 26
Total Liabilities & Shareholders' Equity		 1.18 104 105 106 109 110 25 26 26
Total Liabilities		 4.19 4.01 3.95 3.96 5.55 6.89 7.32 7.81 10
Total Current Liabilities		 4.19 0.51 0.45 0.46 2.05 3.39 3.82 4.31 6.55
Short-Term Debt		 3.75 0.00 - - 1.44 1.54 1.54 1.54 1.90
Accrued Expenses		 0.44 0.50 0.45 0.46 0.61 0.84 0.57 0.57 2.08
Other Current Liabilities		 - - - - 0.00 1.00 1.70 2.20 2.57
Total Noncurrent Liabilities		 0.00 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50
Noncurrent Employee Benefit Liabilities		 - 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50
Other Noncurrent Operating Liabilities		 - - - - 0.00 - 0.00 0.00 0.00
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - 103 104 106 108 109 25 25 26
Total Equity & Noncontrolling Interests		 -3.01 -2.83 -3.30 -3.75 -4.95 -5.71 -6.68 -7.57 -9.55
Total Preferred & Common Equity		 -3.01 -2.83 -3.30 -3.75 -4.95 -5.71 -6.68 -7.57 -9.55
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -3.01 -2.83 -3.30 -3.75 -4.95 -5.71 -6.68 -7.57 -9.55
Common Stock		 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Retained Earnings		 -3.03 -2.83 -3.30 -3.75 -4.95 -5.71 -6.68 -7.57 -9.55

Annual Metrics And Ratios for Spark I Acquisition

This table displays calculated financial ratios and metrics derived from Spark I 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		 0.00 16,422,078.00 - 8,658,791.00
DEI Adjusted Shares Outstanding		 0.00 16,422,078.00 - 8,658,791.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -0.04 - 0.03
Growth Metrics		 - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 0.00% -43.20% -9.94% -90.72%
EBIT Growth		 0.00% -43.20% -9.94% -90.72%
NOPAT Growth		 0.00% -43.20% -57.06% -23.21%
Net Income Growth		 0.00% 45.16% 531.04% -90.68%
EPS Growth		 0.00% 0.00% 337.50% -89.47%
Operating Cash Flow Growth		 0.00% -16.87% -40.16% -31.73%
Free Cash Flow Firm Growth		 0.00% 0.00% -168.22% -55.82%
Invested Capital Growth		 0.00% -1,018.26% -6.24% -20.70%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% 2.16% 110.34%
EBIT Q/Q Growth		 0.00% 0.00% 2.16% 110.34%
NOPAT Q/Q Growth		 0.00% 0.00% 2.16% 8.54%
Net Income Q/Q Growth		 0.00% 0.00% 3.06% -71.69%
EPS Q/Q Growth		 0.00% 0.00% 0.00% -50.00%
Operating Cash Flow Q/Q Growth		 0.00% 29.41% -58.27% 5.61%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -76.29%
Invested Capital Q/Q Growth		 0.00% 0.00% -1.83% 0.43%
Profitability Metrics		 - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 100.00% 38.30% -150.15% 100.42%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 75.63% -1.50% 3.12% 0.49%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 75.63% 0.06% -0.10% -0.05%
Return on Equity Simple (ROE_SIMPLE)		 75.63% 32.19% -72.11% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.93 -1.34 -2.10 -2.59
NOPAT Margin		 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 18.49% 1.20% 5.01% 4.39%
Return On Investment Capital (ROIC_SIMPLE)		 - 58.83% 59.46% 46.05%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -1.33 -1.91 -2.10 0.29
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -1.33 -1.91 -2.10 0.29
Valuation Ratios		 - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 55.46 337.09
Dividend Yield		 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 1.80% 0.30%
Enterprise Value to Invested Capital (EV/IC)		 255.28 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 343.39
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 343.39
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - -
Debt to Equity		 -1.56 0.00 0.01 0.09
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00
Financial Leverage		 -1.23 -1.03 -1.04 -1.09
Leverage Ratio		 -0.74 1.07 1.04 1.10
Compound Leverage Factor		 -0.74 0.41 -1.57 1.11
Debt to Total Capital		 278.38% 0.00% 0.81% 7.88%
Short-Term Debt to Total Capital		 278.38% 0.00% 0.81% 7.88%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 102.28% 103.41% 128.72%
Common Equity to Total Capital		 -178.38% -2.28% -4.23% -36.59%
Debt to EBITDA		 -2.06 0.00 -0.40 5.27
Net Debt to EBITDA		 -1.62 0.00 50.74 -81.19
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00
Debt to NOPAT		 -2.95 0.00 -0.40 -0.60
Net Debt to NOPAT		 -2.32 0.00 50.74 9.18
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00
Altman Z-Score		 12.08 0.00 21.49 7.55
Noncontrolling Interest Sharing Ratio		 0.00% 104.13% 103.29% 109.56%
Liquidity Ratios		 - - - -
Current Ratio		 0.22 3.82 0.36 0.05
Quick Ratio		 0.19 3.44 0.28 0.03
Cash Flow Metrics		 - - - -
Free Cash Flow to Firm (FCFF)		 0.00 2.74 -1.87 -1.60
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - -
Asset Turnover		 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - -
Invested Capital		 0.40 -3.67 -3.90 -5.73
Invested Capital Turnover		 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 -4.08 -0.23 -0.98
Enterprise Value (EV)		 102 0.00 175 100
Market Capitalization		 100 0.00 175 99
Book Value per Share		 ($0.27) ($0.25) ($0.27) ($0.83)
Tangible Book Value per Share		 ($0.27) ($0.25) ($0.27) ($0.83)
Total Capital		 0.99 99 103 20
Total Debt		 2.75 0.00 0.84 1.54
Total Long-Term Debt		 0.00 0.00 0.00 0.00
Net Debt		 2.16 -103 -106 -24
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.23 -0.25 -0.40 -2.23
Debt-free Net Working Capital (DFNWC)		 0.36 1.15 -0.03 -2.11
Net Working Capital (NWC)		 -2.39 1.15 -0.87 -3.65
Net Nonoperating Expense (NNE)		 0.40 -0.60 -5.25 -2.88
Net Nonoperating Obligations (NNO)		 2.16 -103 -106 -24
Total Depreciation and Amortization (D&A)		 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%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.38 $0.04
Adjusted Weighted Average Basic Shares Outstanding		 0.00 8.99M 16.42M 12.70M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.38 $0.04
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 16.42M 0.00 0.00
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 16.42M 16.42M 12.70M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.93 -1.34 -1.47 -1.81
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00
Payout Ratios		 - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 28,896.67%

Quarterly Metrics And Ratios for Spark I Acquisition

This table displays calculated financial ratios and metrics derived from Spark I 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		 16,422,078.00 16,422,078.00 16,422,078.00 16,422,078.00 - 16,422,078.00 16,422,078.00 8,658,791.00 8,658,791.00 8,658,791.00 8,658,791.00
DEI Adjusted Shares Outstanding		 16,422,078.00 16,422,078.00 16,422,078.00 16,422,078.00 - 16,422,078.00 16,422,078.00 8,658,791.00 8,658,791.00 8,658,791.00 8,658,791.00
DEI Earnings Per Adjusted Shares Outstanding		 0.03 0.05 0.05 0.05 - 0.03 0.02 -0.05 -0.02 -0.01 -0.19
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 0.00% -57.33% 296.55% 301.28% 6.99% -3.86% -58.36% -152.82% 39.08% 45.28% -555.31%
EBIT Growth		 0.00% -57.33% 296.55% 301.28% 6.99% -3.86% -58.36% -152.82% 39.08% 45.28% -555.31%
NOPAT Growth		 0.00% -124.76% -51.61% -44.93% 6.99% -3.86% -62.46% -33.62% 57.36% 61.69% -72.01%
Net Income Growth		 0.00% 318.02% 296.55% 301.28% 18.23% -29.60% -58.36% -152.69% -122.41% -117.37% -555.31%
EPS Growth		 0.00% 266.67% 242.86% 242.86% 850.00% -40.00% -60.00% -200.00% -50.00% -133.33% -1,050.00%
Operating Cash Flow Growth		 133.90% -44.22% 30.55% 19.50% -489.10% -3.55% -5.17% -179.87% 26.73% 22.42% 40.13%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 525.00% 0.00% -110.72% -3,387.97% -67.33% 59.05% 667.80% 202.03%
Invested Capital Growth		 0.00% 0.00% 0.00% -708.94% -6.24% -6.23% 2,857.41% -50.00% -20.70% -54.34% -107.75%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 -48.14% 16.26% 256.65% 3.58% -168.45% 6.49% 162.80% -231.41% 21.05% 16.00% -422.50%
EBIT Q/Q Growth		 -48.14% 16.26% 256.65% 3.58% -168.45% 6.49% 162.80% -231.41% 21.05% 16.00% -422.50%
NOPAT Q/Q Growth		 -111.63% 16.26% 15.42% 3.31% -35.82% 6.49% -32.30% 20.47% 56.66% 16.00% -494.08%
Net Income Q/Q Growth		 214.62% 49.98% 13.04% 3.58% -32.67% -10.69% -33.14% -231.07% 71.36% 30.78% -1,652.63%
EPS Q/Q Growth		 157.14% 150.00% 0.00% 0.00% 0.00% -25.00% -33.33% -350.00% 140.00% -150.00% -1,800.00%
Operating Cash Flow Q/Q Growth		 129.15% -435.15% 2.11% 15.83% -40.91% 10.81% 0.58% -123.99% 63.11% 5.56% 23.29%
Free Cash Flow Firm Q/Q Growth		 100.00% 0.00% 2.95% 21.57% -109.68% -175.95% -31,488.87% 101.21% -45.11% 171.12% 5,576.50%
Invested Capital Q/Q Growth		 -683.63% -2.30% -0.23% -1.76% -1.83% 15.83% 2,701.76% -105.54% 0.43% -7.63% -30.61%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 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% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 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% 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% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 -77.37% -138.57% 100.00% 100.00% -98.35% -93.93% 100.00% 99.74% 36.18% 29.81% 100.00%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 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% 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% 0.00% 0.00%
Return on Equity (ROE)		 -1.50% 0.39% 1.69% 6.18% 3.12% 2.88% 2.36% 1.73% 0.49% -0.57% -3.94%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -105.95% 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% 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% 0.00% 0.00%
Return on Common Equity (ROCE)		 0.06% -0.01% -0.06% -0.42% -0.10% -0.11% -0.10% -0.15% -0.05% 0.06% 0.50%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -13.90% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -0.66 -0.56 -0.47 -0.45 -0.62 -0.58 -0.76 -0.61 -0.26 -0.22 -1.31
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 1.14% 2.55% 2.56% 2.66% 1.17% 1.06% 2.16% 0.20% 0.19% 0.19% -2.82%
Return On Investment Capital (ROIC_SIMPLE)		 29.24% 19.67% 14.26% 12.12% 17.50% 16.47% 18.32% 11.82% 4.69% 3.67% 17.18%
Cost of Revenue to Revenue		 0.00% 0.00% 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% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -0.66 -0.56 0.87 0.90 -0.62 -0.58 0.36 -0.48 -0.38 -0.32 -1.65
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.66 -0.56 0.87 0.90 -0.62 -0.58 0.36 -0.48 -0.38 -0.32 -1.65
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 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 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 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 99.59 56.34 55.46 60.69 74.15 97.11 337.09 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 1.00% 1.77% 1.80% 1.65% 1.35% 1.03% 0.30% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 2.78 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 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 343.39 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 343.39 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 182.76 1.01
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.08 0.09 0.09 0.12
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -1.04 -1.04 -1.04 -1.03 -1.04 -1.04 -0.51 -1.08 -1.09 -1.08 -0.20
Leverage Ratio		 1.07 1.04 1.04 1.08 1.04 1.05 1.05 1.09 1.10 1.11 1.14
Compound Leverage Factor		 -0.83 -1.44 1.04 1.08 -1.03 -0.98 1.05 1.09 0.40 0.33 1.14
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.81% 1.38% 1.47% 7.82% 7.88% 7.92% 10.46%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.81% 1.38% 1.47% 7.82% 7.88% 7.92% 10.46%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 102.28% 102.82% 103.26% 103.68% 103.41% 103.35% 103.97% 126.10% 128.72% 131.00% 142.11%
Common Equity to Total Capital		 -2.28% -2.82% -3.26% -3.68% -4.23% -4.73% -5.44% -33.92% -36.59% -38.91% -52.56%
Debt to EBITDA		 0.00 0.00 0.00 0.00 -0.40 -0.68 -0.64 -0.54 5.27 -0.66 -0.55
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 50.74 50.52 -0.18 8.45 -81.19 10.36 7.07
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 -0.40 -0.68 -0.64 -0.54 -0.60 -0.95 -0.79
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 50.74 50.52 -0.18 8.45 9.18 14.80 10.11
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 0.00 0.00 25.80 26.08 21.54 19.08 15.51 7.68 7.47 6.88 5.50
Noncontrolling Interest Sharing Ratio		 104.13% 102.82% 103.26% 106.83% 103.29% 103.82% 104.40% 108.68% 109.56% 110.34% 112.74%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.82 2.22 1.39 0.45 0.36 0.29 0.35 0.17 0.05 0.06 0.08
Quick Ratio		 3.44 1.84 1.05 0.18 0.28 0.24 0.33 0.16 0.03 0.03 0.06
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 3.20 3.30 4.01 -0.39 -0.34 -108 1.31 0.72 1.95 111
Operating Cash Flow to CapEx		 0.00% 0.00% 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 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 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 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 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 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 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 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 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -3.67 -3.76 -3.77 -3.83 -3.90 -3.99 104 -5.75 -5.73 -6.16 -8.05
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 -3.76 -3.77 -4.46 -0.23 -0.23 108 -1.92 -0.98 -2.17 -112
Enterprise Value (EV)		 0.00 0.00 169 172 175 178 289 102 100 99 110
Market Capitalization		 0.00 0.00 170 172 175 177 179 101 99 98 109
Book Value per Share		 ($0.25) ($0.28) ($0.20) ($0.23) ($0.27) ($0.30) ($0.35) ($0.77) ($0.83) ($0.87) ($1.10)
Tangible Book Value per Share		 ($0.25) ($0.28) ($0.20) ($0.23) ($0.27) ($0.30) ($0.35) ($0.77) ($0.83) ($0.87) ($1.10)
Total Capital		 99 100 101 102 103 105 105 20 20 19 18
Total Debt		 0.00 0.00 0.00 0.00 0.84 1.44 1.54 1.54 1.54 1.54 1.90
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -103 -104 -105 -106 -106 -107 0.44 -24 -24 -24 -24
Capital Expenditures (CapEx)		 0.00 0.00 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)		 -0.25 -0.31 -0.29 -0.33 -0.40 -0.49 -1.77 -2.25 -2.23 -2.66 -4.55
Debt-free Net Working Capital (DFNWC)		 1.15 0.62 0.18 -0.25 -0.03 -0.01 -0.67 -1.64 -2.11 -2.53 -4.15
Net Working Capital (NWC)		 1.15 0.62 0.18 -0.25 -0.87 -1.45 -2.21 -3.18 -3.65 -4.07 -6.05
Net Nonoperating Expense (NNE)		 -1.18 -1.33 -1.34 -1.36 -1.22 -1.12 -1.13 -0.13 -0.13 -0.13 0.34
Net Nonoperating Obligations (NNO)		 -103 -104 -105 -106 -106 -107 0.44 -24 -24 -24 -24
Total Depreciation and Amortization (D&A)		 0.00 0.00 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% 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% 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% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.04 $0.00 $0.00 $0.00 $0.00 $0.06 $0.04 ($0.05) ($0.01) ($0.02) ($0.38)
Adjusted Weighted Average Basic Shares Outstanding		 8.99M 16.42M 16.42M 16.42M 16.42M 10M 16.42M 3.00M 12.70M 8.66M 8.66M
Adjusted Diluted Earnings per Share		 $0.04 $0.00 $0.00 $0.00 $0.38 $0.06 $0.04 ($0.10) $0.04 ($0.02) ($0.38)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 0.00 16.42M 0.00 6.42M 0.00 8.66M 8.66M
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		 8.99M 16.42M 16.42M 16.42M 16.42M 16.42M 16.42M 3.00M 12.70M 8.66M 8.66M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.46 -0.39 -0.33 -0.32 -0.43 -0.40 -0.53 -0.61 -0.26 -0.22 -1.31
Normalized NOPAT Margin		 0.00% 0.00% 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% 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 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 28,896.67% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Spark I Acquisition Corp. (NASDAQ: SPKL) remains a pre-revenue acquisition company, so its financial results are driven primarily by investment income, operating costs, financing activity and changes in its trust-related assets rather than business sales. Revenue has been reported at zero in the available quarterly statements. After recording net income in Q1 and Q2 2025, results deteriorated to losses in Q3 and Q4 2025 and continued into 2026, with the Q2 2026 net loss widening to $1.65 million from $94,000 in Q1 2026.

The balance sheet shows substantial trust or long-term investments, but common shareholders have negative book equity. At June 30, 2026, total assets were $26.3 million, including $25.8 million of long-term investments, while total liabilities were $10.1 million and common equity was negative $9.5 million. Cash improved to $402,000 from $133,000 at the end of Q1 2026, but operating cash flow remained negative and the company raised $660,000 of debt during the quarter. Investors should also note that several historical income statements are marked as restated, and the company’s SPAC structure means reported assets and redeemable interests may not represent value available to ordinary shareholders.

  • Cash increased in Q2 2026: Cash and equivalents rose by approximately $269,000 quarter over quarter to $402,000, supported by $660,000 of debt issuance.
  • Investment assets remain substantial: Long-term investments totaled $25.8 million at June 30, 2026, representing the majority of total assets and providing a significant pool of assets associated with the acquisition structure.
  • Operating cash burn improved sequentially: Net cash used in operating activities declined to $291,000 in Q2 2026 from $379,000 in Q1 2026 and $401,000 in Q4 2025.
  • Current assets exceed current liabilities excluding redemption-related considerations: The company reported $504,000 of current assets against $6.6 million of current liabilities, although this comparison indicates only limited conventional liquidity and should be interpreted cautiously because of the SPAC structure.
  • Investment income has been inconsistent: Q1 2025 and Q1 2024 benefited from more than $1.1 million of interest or investment income, while Q2 2026 produced only $1 of interest income and $226,000 of other income. Results therefore may fluctuate significantly based on non-operating items.
  • Share counts have changed materially: Weighted-average basic shares declined from 16.4 million in early 2025 to 8.7 million in 2026, while earlier quarters showed other share-count changes. This makes per-share comparisons difficult and raises the importance of monitoring future dilution or redemptions.
  • The company has no operating revenue: Revenue and gross profit were reported at zero in the available 2023-2026 income statements, leaving SPKL dependent on investment income, financing and the completion of a business combination.
  • Recent losses are worsening: The Q2 2026 net loss of $1.65 million was substantially larger than the $94,000 loss in Q1 2026 and the $136,000 loss in Q4 2025. Selling, general and administrative expense also surged to $1.70 million in Q2 from $156,000 in Q1.
  • Operating cash flow remains persistently negative: Operating activities used cash in every reported quarter shown from Q3 2023 through Q2 2026, including $291,000 in Q2 2026, indicating that the company does not generate cash from operations.
  • Common equity is deeply negative: Retained losses reduced total common equity to negative $9.5 million at June 30, 2026, compared with negative $7.6 million three months earlier. Total liabilities also increased to $10.1 million from $7.8 million in Q1.
10/13/26 10:26 PM ETAI Generated. May Contain Errors.

Spark I Acquisition Financials - Frequently Asked Questions

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

Spark I Acquisition's net income appears to be on an upward trend, with a most recent value of $293.60 thousand in 2025, compared with -$1.33 million in 2022. The previous period was $3.15 million in 2024.

Spark I Acquisition's total operating income in 2025 was -$2.59 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $2.59 million

Over the last 3 years, Spark I Acquisition's total revenue changed from $0.00 in 2022 to $0.00 in 2025, a change of 0.0%.

In the past 11 quarters, Spark I Acquisition's cash and equivalents has ranged from $82.76 thousand in Q3 2024 to $1.10 million in Q2 2025, and is currently $401.64 thousand as of their latest financial filing in Q2 2026.

Spark I Acquisition had total debt of $1.54 million at the end of 2025, a 83.3% increase from 2024, and a 44.0% decrease since 2022.

Over the last 3 years, Spark I Acquisition's book value per share changed from -0.27 in 2022 to -0.83 in 2025, a change of -201.1%.



Financial statements for NASDAQ:SPKLW last updated on 8/14/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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Tired of trying tactic after tactic when it comes to options trades... only to be met with market noise and st...
Base Camp Trading | Sponsoredtc pixel
The end may be near for these iconic stocks
Marc Chaikin, founder of Chaikin Analytics, says two forces - AI disruption and fracturing global trade - are ...
Chaikin Analytics | Sponsoredtc pixel
Louis Navellier: My #1 AI stock for 2026 (name & ticker inside)
Louis Navellier's Stock Grader system helped him flag Nvidia before its 82,000% run and has identified the top...
InvestorPlace | Sponsoredtc pixel
Here’s the stock symbol I’ve promised
Whitney Tilson of Stansberry Research has long recommended Berkshire Hathaway as a core retirement holding - b...
Stansberry Research | Sponsoredtc pixel
Bank of America: 'Digital Dollar Inevitable'
Bank of America just revealed your expiration date. In their Bloomberg interview, they didn't just predict the...
Decentralized Masters | Sponsoredtc pixel