What is Colombier Acquisition Corp. II's operating income?

Colombier Acquisition Corp. II's total operating income in 2025 was -$31.96 million, based on the following breakdown: Total Gross Profit: $18.22 million Total Operating Expenses: $50.18 million

Colombier Acquisition Corp. II (CLBR) Financials

$10.26 +0.01 (+0.10%)

As of 10:15 AM Eastern

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Annual Income Statements for Colombier Acquisition Corp. II

This table shows Colombier Acquisition Corp. II'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	-6.98	-53	-58	-37
Consolidated Net Income / (Loss)	-6.98	-53	-58	-37
Net Income / (Loss) Continuing Operations	-6.98	-53	-44	-25
Total Pre-Tax Income	-6.98	-53	-44	-25
Total Operating Income	-7.10	-39	-42	-32
Total Gross Profit	-0.24	3.72	10	18
Total Revenue	0.48	5.69	10	18
Operating Revenue	0.48	5.69	10	18
Total Cost of Revenue	0.72	1.97	0.00	0.00
Total Operating Expenses	6.86	43	52	50
Selling, General & Admin Expense	2.02	15	39	29
Marketing Expense	2.55	12	8.28	5.97
Research & Development Expense	1.45	4.63	1.89	3.84
Depreciation Expense	0.84	2.44	2.79	5.89
Amortization Expense	-	1.83	-	5.60
Total Other Income / (Expense), net	0.12	-14	-1.94	7.06
Interest & Investment Income	0.00	-0.18	-2.30	-3.51
Other Income / (Expense), net	0.12	-14	0.36	11
Income Tax Expense	0.00	0.00	0.00	0.00
Net Income / (Loss) Discontinued Operations	-	-	-14	-12
Basic Earnings per Share	($0.61)	($2.43)	($1.80)	($0.81)
Weighted Average Basic Shares Outstanding	11.50M	21.96M	32.02M	45.54M
Diluted Earnings per Share	-	($2.43)	($1.80)	($0.81)
Weighted Average Diluted Shares Outstanding	21.56M	21.96M	32.02M	45.54M
Weighted Average Basic & Diluted Shares Outstanding	21.56M	28.29M	42.91M	48.72M

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-20	-5.68	-13	-11	-13	-21	-4.45	-8.37	-12	-12	-6.45
Consolidated Net Income / (Loss)	-20	-5.68	-13	-11	-13	-21	-4.45	-8.37	-12	-12	-6.45
Net Income / (Loss) Continuing Operations	-20	-5.68	-13	-11	-8.64	-11	-2.05	-8.37	-10	-2.04	-6.48
Total Pre-Tax Income	-20	-5.68	-13	-11	-8.65	-11	-2.04	-8.37	-10	-2.04	-6.48
Total Operating Income	-13	-14	-15	-14	-10	-2.50	-9.32	-8.06	-9.70	-2.52	-6.13
Total Gross Profit	1.13	2.48	2.07	4.55	3.21	0.23	3.05	4.85	4.40	4.29	8.16
Total Revenue	2.03	2.75	3.47	5.99	3.21	-2.60	3.05	7.08	4.40	-0.02	8.16
Operating Revenue	2.03	2.75	3.47	5.99	3.21	-2.60	3.05	7.08	4.40	-0.02	8.16
Total Cost of Revenue	0.90	0.27	1.39	1.44	0.00	-2.83	0.00	2.23	0.00	-4.30	0.00
Total Operating Expenses	14	16	17	19	13	2.73	12	13	14	6.81	14
Selling, General & Admin Expense	4.31	2.92	10	11	10	7.06	8.26	5.98	8.14	4.24	6.62
Marketing Expense	3.67	5.36	4.68	5.09	1.74	-3.23	1.54	2.81	1.56	-0.86	1.60
Research & Development Expense	1.49	2.60	1.14	1.03	0.41	-0.69	1.03	1.30	1.24	-0.14	0.62
Depreciation Expense	0.76	0.44	0.30	0.93	0.73	0.83	0.91	1.68	1.70	1.30	5.45
Total Other Income / (Expense), net	-7.26	7.96	2.33	2.81	1.61	-8.69	7.27	-0.31	-0.36	0.48	-0.39
Interest & Investment Income	-0.05	0.03	-0.12	-0.55	-0.76	-0.87	-0.87	-0.87	-0.87	-0.90	-0.95
Other Income / (Expense), net	-7.21	7.93	2.45	3.36	2.37	-7.82	8.14	0.56	0.51	1.39	0.56
Income Tax Expense	-0.00	0.00	-0.00	0.01	-0.01	0.00	0.01	-0.00	-0.01	-0.00	0.00
Net Income / (Loss) Discontinued Operations	-	-	-	-	-4.50	-	-2.40	-	-1.94	-	0.03
Basic Earnings per Share	($0.77)	($0.08)	($0.44)	($0.36)	($0.41)	($0.59)	($0.10)	($0.18)	($0.26)	($0.27)	($0.12)
Weighted Average Basic Shares Outstanding	26.27M	21.96M	28.40M	31.39M	31.76M	32.02M	42.95M	45.25M	46.05M	45.54M	54.03M
Diluted Earnings per Share	($0.77)	-	($0.44)	($0.36)	($0.41)	($0.59)	($0.10)	($0.18)	($0.26)	($0.27)	($0.12)
Weighted Average Diluted Shares Outstanding	26.27M	21.96M	28.40M	31.39M	31.76M	32.02M	42.95M	45.25M	46.05M	45.54M	54.03M
Weighted Average Basic & Diluted Shares Outstanding	27.61M	28.29M	31.39M	31.39M	34.76M	42.91M	45.54M	45.91M	46.24M	48.72M	48.73M

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

Metric	2022	2023	2024	2025
Period end date	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	1.93	14	20	-20
Net Cash From Operating Activities	-6.03	-26	-34	-20
Net Cash From Continuing Operating Activities	-6.03	-26	-34	-20
Net Income / (Loss) Continuing Operations	-6.98	-53	-58	-37
Consolidated Net Income / (Loss)	-6.98	-53	-58	-37
Depreciation Expense	0.84	2.44	3.26	6.61
Amortization Expense	0.05	0.00	0.73	0.17
Non-Cash Adjustments To Reconcile Net Income	0.00	21	22	6.52
Changes in Operating Assets and Liabilities, net	0.05	4.23	-2.60	3.36
Net Cash From Investing Activities	-1.55	-3.32	-3.02	-10
Net Cash From Continuing Investing Activities	-1.55	-3.32	-3.02	-10
Purchase of Property, Plant & Equipment	-1.54	-3.26	-3.68	-6.23
Acquisitions	-0.02	-0.23	0.14	-0.46
Sale and/or Maturity of Investments	0.00	10	13	19
Other Investing Activities, net	-	0.00	-13	-23
Net Cash From Financing Activities	9.52	43	57	9.96
Net Cash From Continuing Financing Activities	9.52	43	57	9.96
Repayment of Debt	0.00	-0.00	-8.56	-9.52
Repurchase of Common Equity	-	-	0.00	-0.37
Issuance of Debt	0.00	23	27	12
Issuance of Common Equity	9.52	2.60	39	7.92
Other Financing Activities, net	0.00	18	-0.47	0.00
Cash Interest Paid	0.00	-	2.30	3.51

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	19	-8.81	-7.10	-1.60	-2.07	31	-8.31	-7.39	-8.55	3.78	-4.28
Net Cash From Operating Activities	-8.39	-7.35	-6.52	-10	-10	-7.00	-6.43	-4.85	-6.08	-2.57	-4.13
Net Cash From Continuing Operating Activities	-8.39	-7.35	-6.52	-10	-10	-7.00	-6.43	-4.85	-6.08	-2.57	-4.13
Net Income / (Loss) Continuing Operations	-20	-5.68	-13	-11	-13	-21	-4.45	-8.37	-12	-12	-6.45
Consolidated Net Income / (Loss)	-20	-5.68	-13	-11	-13	-21	-4.45	-8.37	-12	-12	-6.45
Depreciation Expense	0.76	0.44	0.30	0.93	0.98	1.06	1.21	1.68	1.81	1.91	1.85
Amortization Expense	-	-	0.00	0.27	0.23	0.23	0.17	-	-	-	0.00
Non-Cash Adjustments To Reconcile Net Income	9.25	-2.93	3.71	2.05	3.95	12	-3.51	0.37	3.80	5.86	0.89
Changes in Operating Assets and Liabilities, net	1.83	0.82	2.05	-2.43	-2.21	-0.01	0.14	1.46	0.29	1.47	-0.41
Net Cash From Investing Activities	9.38	-1.46	-0.36	0.41	-1.00	-2.07	-1.81	-2.89	-3.02	-2.77	-1.36
Net Cash From Continuing Investing Activities	9.38	-1.46	-0.36	0.41	-1.00	-2.07	-1.81	-2.89	-3.02	-2.77	-1.36
Purchase of Property, Plant & Equipment	-0.85	-1.31	-0.77	-1.01	-1.04	-0.86	-0.66	-1.99	-1.97	-0.52	-0.67
Sale and/or Maturity of Investments	10	-	0.98	4.28	3.63	4.56	4.53	4.38	4.38	5.55	3.21
Other Investing Activities, net	-	-	-0.72	-2.86	-3.59	-5.77	-5.68	-4.83	-5.43	-7.81	-3.90
Net Cash From Financing Activities	18	0.00	-0.22	8.41	9.12	40	-0.07	0.35	0.55	9.12	1.21
Net Cash From Continuing Financing Activities	18	0.00	-0.22	8.41	9.12	40	-0.07	0.35	0.55	9.12	1.21
Repayment of Debt	0.00	-0.00	-0.22	-1.59	-0.40	-6.35	-2.34	-2.19	-2.48	-2.51	-3.23
Issuance of Debt	-	-	0.00	10	10	7.02	2.27	2.49	3.03	4.13	4.44
Cash Interest Paid	-	-	-	-	-	-	0.87	-	-	-	0.95

This table presents Colombier Acquisition Corp. II's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	174	4.22	25	75	60
Total Current Assets	1.27	2.62	21	47	32
Cash & Equivalents	0.84	2.33	16	36	15
Restricted Cash	-	-	0.00	0.27	1.12
Short-Term Investments	-	-	0.00	3.99	6.15
Note & Lease Receivable	-	-	0.00	0.31	0.41
Accounts Receivable	-	0.00	0.20	0.26	1.63
Inventories, net	-	0.00	1.44	0.00	0.96
Prepaid Expenses	0.42	0.29	3.08	2.26	2.45
Other Current Nonoperating Assets	-	-	-	4.02	4.41
Plant, Property, & Equipment, net	0.00	0.03	0.13	0.28	0.19
Total Noncurrent Assets	173	1.57	3.94	28	28
Noncurrent Note & Lease Receivables	-	-	0.00	0.74	1.52
Goodwill	-	-	0.00	11	11
Intangible Assets	-	1.27	3.56	15	15
Other Noncurrent Operating Assets	173	0.30	0.39	0.29	0.70
Total Liabilities & Shareholders' Equity	174	4.22	25	75	60
Total Liabilities	13	0.81	15	48	46
Total Current Liabilities	0.48	0.68	4.01	8.62	16
Short-Term Debt	-	-	0.00	3.78	6.17
Accounts Payable	-	0.42	1.83	2.87	5.35
Accrued Expenses	0.48	0.04	1.64	0.78	1.21
Other Current Liabilities	-	0.17	0.31	0.12	0.32
Other Current Nonoperating Liabilities	-	-	-	1.07	2.61
Total Noncurrent Liabilities	12	0.13	11	39	31
Long-Term Debt	-	-	0.00	28	28
Other Noncurrent Operating Liabilities	12	0.00	11	11	2.12
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-11	3.40	10	27	13
Total Preferred & Common Equity	-11	3.40	10	27	13
Preferred Stock	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-11	3.40	10	27	13
Common Stock	0.00	12	73	147	170
Retained Earnings	-11	-8.88	-62	-120	-157

This table presents Colombier Acquisition Corp. II's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	33	49	45	44	66	65	59	54
Total Current Assets	30	20	17	16	39	32	30	27
Cash & Equivalents	25	9.11	7.61	4.71	28	21	11	10
Restricted Cash	-	0.23	0.14	0.97	0.24	0.31	0.43	1.59
Short-Term Investments	-	-	-	3.57	-	-	4.93	6.88
Note & Lease Receivable	-	5.54	4.70	0.30	3.92	4.43	0.38	0.34
Accounts Receivable	0.07	0.37	0.34	0.62	0.67	0.62	0.18	1.93
Inventories, net	1.48	1.21	1.28	1.50	3.09	3.32	1.61	0.49
Prepaid Expenses	3.54	2.95	2.78	4.29	2.78	2.92	2.74	2.27
Other Current Nonoperating Assets	-	-	-	-	-	-	9.60	3.87
Plant, Property, & Equipment, net	0.13	0.36	0.34	0.30	0.23	0.21	0.21	0.16
Total Noncurrent Assets	2.77	28	28	28	27	33	28	27
Noncurrent Note & Lease Receivables	-	1.14	0.57	0.68	0.62	0.67	0.50	1.43
Goodwill	-	11	11	11	11	11	11	11
Intangible Assets	2.53	16	16	16	15	21	15	14
Other Noncurrent Operating Assets	0.24	0.61	0.51	0.43	0.29	0.88	1.33	0.62
Total Liabilities & Shareholders' Equity	33	49	45	44	66	65	59	54
Total Liabilities	22	30	33	40	40	43	44	46
Total Current Liabilities	3.19	13	9.04	8.42	8.57	11	12	16
Short-Term Debt	-	5.10	3.51	3.11	3.70	4.01	4.56	7.40
Accounts Payable	1.71	6.59	3.92	3.66	3.10	2.85	2.27	5.15
Accrued Expenses	1.06	1.04	1.12	0.91	1.59	1.42	1.23	1.46
Other Current Liabilities	0.17	0.33	0.24	0.17	0.11	0.52	0.31	0.33
Other Current Nonoperating Liabilities	-	-	-	-	-	-	3.64	1.89
Total Noncurrent Liabilities	19	17	24	31	32	32	32	30
Long-Term Debt	-	8.45	18	28	28	28	28	28
Other Noncurrent Operating Liabilities	19	8.44	5.13	2.97	3.11	3.70	3.47	1.34
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	12	18	12	4.40	26	22	15	8.33
Total Preferred & Common Equity	12	18	12	4.40	26	22	15	8.33
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	12	18	12	4.40	26	22	15	8.33
Common Stock	68	93	98	104	150	155	160	171
Retained Earnings	-57	-75	-86	-99	-124	-133	-145	-163

This table displays calculated financial ratios and metrics derived from Colombier Acquisition Corp. II'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	21,562,500.00	55,217,506.00	34,762,222.00	46,238,905.00
DEI Adjusted Shares Outstanding	21,562,500.00	55,217,506.00	34,762,222.00	46,238,905.00
DEI Earnings Per Adjusted Shares Outstanding	-0.32	-0.97	-1.66	-0.79
Growth Metrics	-	-	-	-
Revenue Growth	0.00%	1,096.61%	76.94%	81.09%
EBITDA Growth	0.00%	-733.54%	26.35%	60.90%
EBIT Growth	0.00%	-661.64%	22.22%	48.26%
NOPAT Growth	0.00%	-454.44%	-5.98%	23.36%
Net Income Growth	0.00%	-664.18%	-8.17%	36.53%
EPS Growth	0.00%	0.00%	25.93%	55.00%
Operating Cash Flow Growth	0.00%	-326.97%	-32.47%	41.57%
Free Cash Flow Firm Growth	0.00%	0.00%	-146.76%	36.68%
Invested Capital Growth	0.00%	-600.68%	348.87%	62.76%
Revenue Q/Q Growth	0.00%	72.87%	-34.69%	-36.69%
EBITDA Q/Q Growth	0.00%	6.49%	-11.19%	62.04%
EBIT Q/Q Growth	0.00%	6.09%	-12.55%	52.07%
NOPAT Q/Q Growth	0.00%	-30.57%	21.09%	30.45%
Net Income Q/Q Growth	0.00%	6.50%	-35.32%	19.59%
EPS Q/Q Growth	0.00%	0.00%	0.00%	28.32%
Operating Cash Flow Q/Q Growth	0.00%	-27.36%	1.02%	18.17%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	35.24%	-1.05%
Invested Capital Q/Q Growth	0.00%	56.28%	-44.00%	-6.28%
Profitability Metrics	-	-	-	-
Gross Margin	-50.70%	65.37%	100.00%	100.00%
EBITDA Margin	-1,280.23%	-891.79%	-371.20%	-80.15%
Operating Margin	-1,493.46%	-691.98%	-414.48%	-175.42%
EBIT Margin	-1,468.59%	-934.75%	-410.87%	-117.39%
Profit (Net Income) Margin	-1,468.63%	-937.91%	-573.37%	-200.95%
Tax Burden Percent	100.01%	100.00%	132.31%	147.06%
Interest Burden Percent	99.99%	100.33%	105.47%	116.41%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-413.70%	0.00%	-652.29%	-113.81%
ROIC Less NNEP Spread (ROIC-NNEP)	-322.32%	0.00%	-451.14%	2,816.13%
Return on Net Nonoperating Assets (RNNOA)	208.53%	0.00%	342.85%	-67.94%
Return on Equity (ROE)	-205.17%	-770.91%	-309.45%	-181.75%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-335.28%	-161.58%
Operating Return on Assets (OROA)	-7.83%	-360.80%	-82.56%	-31.79%
Return on Assets (ROA)	-7.83%	-362.02%	-115.21%	-54.41%
Return on Common Equity (ROCE)	9.65%	-770.91%	-309.45%	-181.75%
Return on Equity Simple (ROE_SIMPLE)	-205.17%	-511.11%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-4.97	-28	-29	-22
NOPAT Margin	-1,045.42%	-484.39%	-290.13%	-122.79%
Net Nonoperating Expense Percent (NNEP)	-91.38%	-276.59%	-201.15%	-2,929.94%
Return On Investment Capital (ROIC_SIMPLE)	-	-263.96%	-49.41%	-46.55%
Cost of Revenue to Revenue	150.70%	34.63%	0.00%	0.00%
SG&A Expenses to Revenue	424.40%	267.72%	385.69%	158.52%
R&D to Revenue	304.38%	81.37%	18.82%	21.09%
Operating Expenses to Revenue	1,442.75%	757.35%	514.48%	275.42%
Earnings before Interest and Taxes (EBIT)	-6.98	-53	-41	-21
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-6.08	-51	-37	-15
Valuation Ratios	-	-	-	-
Price to Book Value (P/BV)	63.01	13.87	5.88	3.54
Price to Tangible Book Value (P/TBV)	100.45	21.04	122.98	0.00
Price to Revenue (P/Rev)	451.06	25.44	15.69	2.61
Price to Earnings (P/E)	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	176.66	0.00	10.03	2.48
Enterprise Value to Revenue (EV/Rev)	446.43	22.55	14.92	3.31
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00
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	0.04	0.00	1.20	2.58
Long-Term Debt to Equity	0.04	0.00	1.06	2.12
Financial Leverage	-0.65	-1.35	-0.76	-0.02
Leverage Ratio	1.08	2.13	2.69	3.34
Compound Leverage Factor	1.08	2.14	2.83	3.89
Debt to Total Capital	3.67%	0.00%	54.55%	72.04%
Short-Term Debt to Total Capital	0.00%	0.00%	6.39%	12.85%
Long-Term Debt to Total Capital	3.67%	0.00%	48.16%	59.19%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	96.33%	100.00%	45.45%	27.96%
Debt to EBITDA	-0.02	0.00	-0.86	-2.37
Net Debt to EBITDA	0.36	0.00	0.21	-0.87
Long-Term Debt to EBITDA	-0.02	0.00	-0.76	-1.95
Debt to NOPAT	-0.03	0.00	-1.10	-1.55
Net Debt to NOPAT	0.44	0.00	0.27	-0.57
Long-Term Debt to NOPAT	-0.03	0.00	-0.97	-1.27
Altman Z-Score	150.19	-3.50	-1.35	-3.61
Noncontrolling Interest Sharing Ratio	104.70%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-
Current Ratio	3.83	5.29	5.43	2.03
Quick Ratio	3.40	4.16	4.67	1.46
Cash Flow Metrics	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-20	-50	-32
Operating Cash Flow to CapEx	-392.00%	-789.34%	-927.13%	-320.02%
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	0.01	0.39	0.20	0.27
Accounts Receivable Turnover	0.00	0.00	43.09	19.25
Inventory Turnover	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	73.91	49.97	78.74
Accounts Payable Turnover	0.00	1.75	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	8.47	18.96
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	208.77	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	-208.77	8.47	18.96
Capital & Investment Metrics	-	-	-	-
Invested Capital	1.20	-6.01	15	24
Invested Capital Turnover	0.40	-2.36	2.25	0.93
Increase / (Decrease) in Invested Capital	0.00	-7.21	21	9.39
Enterprise Value (EV)	212	128	150	60
Market Capitalization	214	145	158	48
Book Value per Share	$0.16	$0.38	$0.77	$0.29
Tangible Book Value per Share	$0.10	$0.25	$0.04	($0.26)
Total Capital	3.53	10	59	48
Total Debt	0.13	0.00	32	35
Total Long-Term Debt	0.13	0.00	28	28
Net Debt	-2.20	-16	-7.75	13
Capital Expenditures (CapEx)	1.54	3.26	3.68	6.23
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-0.40	0.72	2.01	0.36
Debt-free Net Working Capital (DFNWC)	1.94	17	42	22
Net Working Capital (NWC)	1.94	17	38	16
Net Nonoperating Expense (NNE)	2.01	26	28	14
Net Nonoperating Obligations (NNO)	-2.20	-16	-12	11
Total Depreciation and Amortization (D&A)	0.90	2.44	3.99	6.78
Debt-free, Cash-free Net Working Capital to Revenue	-83.15%	12.71%	19.98%	1.99%
Debt-free Net Working Capital to Revenue	407.28%	301.94%	417.35%	122.26%
Net Working Capital to Revenue	407.28%	301.94%	379.81%	88.37%
Earnings Adjustments	-	-	-	-
Adjusted Basic Earnings per Share	$0.54	($2.43)	($1.80)	($0.81)
Adjusted Weighted Average Basic Shares Outstanding	21.56M	21.96M	32.02M	45.54M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($1.80)	($0.81)
Adjusted Weighted Average Diluted Shares Outstanding	21.56M	28.29M	32.02M	45.54M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	21.56M	28.29M	42.91M	48.72M
Normalized Net Operating Profit after Tax (NOPAT)	-4.97	-28	-29	-22
Normalized NOPAT Margin	-1,045.42%	-484.39%	-290.13%	-122.79%
Pre Tax Income Margin	-1,468.46%	-937.87%	-433.36%	-136.65%
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%	-1.00%

This table displays calculated financial ratios and metrics derived from Colombier Acquisition Corp. II's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	29,257,976.00	55,217,506.00	55,217,506.00	55,217,506.00	31,391,595.00	34,762,222.00	42,914,358.00	45,538,976.00	45,912,205.00	46,238,905.00	48,717,235.00
DEI Adjusted Shares Outstanding	29,257,976.00	55,217,506.00	55,217,506.00	55,217,506.00	31,391,595.00	34,762,222.00	42,914,358.00	45,538,976.00	45,912,205.00	46,238,905.00	48,717,235.00
DEI Earnings Per Adjusted Shares Outstanding	-0.69	-0.10	-0.23	-0.20	-0.42	-0.60	-0.10	-0.18	-0.26	-0.26	-0.13
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1,529.49%	683.74%	816.82%	1,029.91%	57.93%	-194.55%	-11.98%	18.34%	37.33%	99.31%	167.42%
EBITDA Growth	-911.05%	40.01%	-98.18%	52.34%	65.58%	-71.24%	101.70%	38.58%	-10.33%	108.64%	-1,903.17%
EBIT Growth	-850.00%	37.61%	-86.44%	48.12%	60.90%	-80.64%	90.57%	29.72%	-16.35%	89.02%	-374.61%
NOPAT Growth	-510.55%	-207.95%	-169.26%	-95.17%	20.94%	81.68%	37.51%	42.58%	5.51%	-0.78%	34.16%
Net Income Growth	-854.07%	39.47%	-88.06%	45.78%	35.09%	-265.00%	64.64%	25.54%	8.79%	43.02%	-45.14%
EPS Growth	0.00%	0.00%	0.00%	0.00%	46.75%	0.00%	77.27%	50.00%	36.59%	54.24%	-20.00%
Operating Cash Flow Growth	-129.54%	-304.59%	-116.00%	-48.85%	-21.36%	4.77%	1.42%	53.40%	40.29%	63.26%	35.82%
Free Cash Flow Firm Growth	2,540.58%	0.00%	3,240.34%	2,240.75%	-127.92%	-872.80%	-110.77%	-110.82%	87.29%	50.91%	113.67%
Invested Capital Growth	-108.28%	-600.68%	-86.37%	-82.99%	294.30%	348.87%	34.00%	27.64%	-2.74%	62.76%	-20.81%
Revenue Q/Q Growth	283.40%	35.28%	26.15%	72.69%	-46.41%	-180.98%	217.45%	4.94%	-37.81%	-100.41%	45,726.18%
EBITDA Q/Q Growth	2.18%	72.85%	-130.42%	22.12%	29.36%	-35.09%	102.29%	-165.54%	-26.89%	110.58%	-577.05%
EBIT Q/Q Growth	1.81%	71.70%	-117.93%	14.34%	26.00%	-30.75%	88.62%	-109.98%	-22.51%	87.66%	-391.66%
NOPAT Q/Q Growth	-80.54%	-5.10%	-9.29%	5.88%	26.86%	75.65%	-272.75%	31.08%	-20.35%	74.02%	-143.53%
Net Income Q/Q Growth	2.33%	71.93%	-121.36%	10.67%	-16.93%	-57.85%	78.55%	-88.11%	-43.23%	1.40%	45.37%
EPS Q/Q Growth	0.00%	0.00%	0.00%	18.18%	-13.89%	-43.90%	83.05%	-80.00%	-44.44%	-3.85%	55.56%
Operating Cash Flow Q/Q Growth	-19.98%	12.42%	11.25%	-59.62%	2.18%	31.28%	8.13%	24.55%	-25.35%	57.71%	-60.48%
Free Cash Flow Firm Q/Q Growth	3,223.41%	-101.37%	5,705.94%	-8.22%	-139.65%	52.31%	37.91%	17.52%	53.44%	-84.19%	117.30%
Invested Capital Q/Q Growth	-108.78%	56.28%	471.18%	19.45%	0.23%	-44.00%	99.86%	13.78%	-23.62%	-6.28%	-2.76%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	55.50%	90.19%	59.85%	75.96%	100.00%	0.00%	100.00%	68.50%	100.00%	0.00%	100.00%
EBITDA Margin	-956.84%	-192.04%	-350.75%	-158.18%	-208.52%	0.00%	6.77%	-82.10%	-167.51%	0.00%	-45.65%
Operating Margin	-639.09%	-496.51%	-430.13%	-234.44%	-319.95%	0.00%	-305.35%	-113.75%	-220.12%	0.00%	-75.18%
EBIT Margin	-994.25%	-207.99%	-359.30%	-178.24%	-246.13%	0.00%	-38.49%	-105.86%	-208.53%	0.00%	-68.31%
Profit (Net Income) Margin	-996.54%	-206.80%	-362.87%	-187.72%	-409.60%	0.00%	-145.78%	-118.12%	-272.04%	0.00%	-79.12%
Tax Burden Percent	100.00%	100.01%	100.00%	100.13%	151.86%	185.98%	217.73%	100.00%	119.17%	580.22%	99.59%
Interest Burden Percent	100.23%	99.42%	101.00%	105.19%	109.59%	108.03%	173.96%	111.58%	109.47%	179.66%	116.31%
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)	-19.33%	0.00%	-28.40%	-25.48%	-532.17%	0.00%	-78.97%	-72.39%	-168.27%	0.00%	-45.82%
ROIC Less NNEP Spread (ROIC-NNEP)	68.07%	0.00%	-220.52%	-46.85%	-127.28%	0.00%	-26.47%	-93.36%	-199.38%	0.00%	-68.30%
Return on Net Nonoperating Assets (RNNOA)	-9.77%	0.00%	-2.67%	-3.64%	23.53%	0.00%	-4.72%	-69.98%	-345.24%	0.00%	-38.24%
Return on Equity (ROE)	-29.11%	-770.91%	-31.08%	-29.12%	-508.64%	0.00%	-83.68%	-142.37%	-513.51%	0.00%	-84.06%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	115.35%	99.41%	-289.91%	-335.28%	-125.87%	-131.61%	-119.29%	-161.58%	-51.97%
Operating Return on Assets (OROA)	-31.55%	-80.28%	-28.03%	-22.83%	-97.86%	0.00%	-6.47%	-52.84%	-116.44%	0.00%	-26.44%
Return on Assets (ROA)	-31.62%	-79.82%	-28.31%	-24.04%	-162.86%	0.00%	-24.50%	-58.96%	-151.91%	0.00%	-30.63%
Return on Common Equity (ROCE)	-0.77%	-770.91%	-1.76%	0.81%	-508.64%	0.00%	-83.68%	-142.37%	-513.51%	0.00%	-84.06%
Return on Equity Simple (ROE_SIMPLE)	-495.73%	0.00%	-323.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-9.09	-9.55	-10	-9.82	-7.18	-1.75	-6.52	-5.64	-6.79	-1.76	-4.29
NOPAT Margin	-447.36%	-347.56%	-301.09%	-164.10%	-223.96%	0.00%	-213.74%	-79.62%	-154.09%	0.00%	-52.63%
Net Nonoperating Expense Percent (NNEP)	-87.40%	41.48%	192.12%	21.37%	-404.89%	-134.03%	-52.50%	20.97%	31.10%	-2,068.46%	22.48%
Return On Investment Capital (ROIC_SIMPLE)	-	-91.51%	-32.52%	-28.55%	-19.98%	-2.96%	-11.21%	-10.27%	-14.17%	-3.67%	-9.72%
Cost of Revenue to Revenue	44.50%	9.81%	40.15%	24.04%	0.00%	0.00%	0.00%	31.50%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	212.28%	106.43%	296.11%	183.68%	326.96%	0.00%	270.77%	84.37%	184.90%	0.00%	81.08%
R&D to Revenue	73.17%	94.77%	32.95%	17.24%	12.73%	0.00%	33.77%	18.35%	28.19%	0.00%	7.65%
Operating Expenses to Revenue	694.59%	586.70%	489.99%	310.40%	419.95%	0.00%	405.35%	182.25%	320.12%	0.00%	175.18%
Earnings before Interest and Taxes (EBIT)	-20	-5.71	-12	-11	-7.89	-10	-1.17	-7.50	-9.19	-1.13	-5.57
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-19	-5.28	-12	-9.47	-6.69	-9.03	0.21	-5.82	-7.38	0.78	-3.72
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	23.09	13.87	8.12	0.00	17.54	5.88	3.78	4.16	5.89	3.54	3.10
Price to Tangible Book Value (P/TBV)	29.61	21.04	0.00	0.00	0.00	122.98	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	80.77	25.44	16.93	0.00	5.01	15.69	10.19	3.38	3.05	2.61	1.11
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	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 Invested Capital (EV/IC)	0.00	0.00	6.86	0.00	3.73	10.03	3.42	3.08	4.03	2.48	1.82
Enterprise Value to Revenue (EV/Rev)	73.09	22.55	17.44	0.00	6.46	14.92	10.59	3.80	3.64	3.31	1.85
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	1.43	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.75	1.81	7.17	1.20	1.24	1.45	2.22	2.58	4.31
Long-Term Debt to Equity	0.00	0.00	0.48	1.53	6.46	1.06	1.09	1.27	1.91	2.12	3.42
Financial Leverage	-0.14	-1.35	0.01	0.08	-0.18	-0.76	0.18	0.75	1.73	-0.02	0.56
Leverage Ratio	1.17	2.13	1.22	1.31	4.87	2.69	2.59	3.19	5.34	3.34	3.51
Compound Leverage Factor	1.17	2.12	1.24	1.37	5.34	2.90	4.51	3.56	5.85	6.00	4.08
Debt to Total Capital	0.00%	0.00%	42.99%	64.45%	87.76%	54.55%	55.27%	59.11%	68.91%	72.04%	81.16%
Short-Term Debt to Total Capital	0.00%	0.00%	15.90%	10.19%	8.65%	6.39%	6.37%	7.30%	9.52%	12.85%	16.76%
Long-Term Debt to Total Capital	0.00%	0.00%	27.10%	54.26%	79.11%	48.16%	48.90%	51.81%	59.39%	59.19%	64.40%
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	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	57.01%	35.55%	12.24%	45.45%	44.73%	40.89%	31.09%	27.96%	18.84%
Debt to EBITDA	0.00	0.00	-0.24	-0.48	-0.94	-0.86	-1.29	-0.86	-0.86	-2.37	-1.93
Net Debt to EBITDA	0.00	0.00	-0.08	-0.31	-0.66	0.21	-0.16	-0.31	-0.44	-0.87	-0.94
Long-Term Debt to EBITDA	0.00	0.00	-0.15	-0.40	-0.85	-0.76	-1.14	-0.75	-0.74	-1.95	-1.54
Debt to NOPAT	0.00	0.00	-0.40	-0.57	-0.85	-1.10	-1.27	-1.00	-1.03	-1.55	-1.78
Net Debt to NOPAT	0.00	0.00	-0.13	-0.37	-0.60	0.27	-0.15	-0.36	-0.53	-0.57	-0.86
Long-Term Debt to NOPAT	0.00	0.00	-0.25	-0.48	-0.77	-0.97	-1.13	-0.87	-0.88	-1.27	-1.41
Altman Z-Score	4.03	2.70	0.28	0.00	-2.01	0.02	-0.53	-1.10	-1.90	-2.49	-3.52
Noncontrolling Interest Sharing Ratio	97.35%	0.00%	94.33%	102.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	9.50	5.29	1.50	1.87	1.90	5.43	4.52	2.97	2.54	2.03	1.69
Quick Ratio	7.93	4.16	1.14	1.40	1.09	4.67	3.81	2.36	1.34	1.46	1.18
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	171	-2.34	131	120	-48	-23	-14	-13	-6.06	-11	1.93
Operating Cash Flow to CapEx	-990.41%	-560.83%	-847.76%	-1,033.38%	-978.22%	-812.06%	-979.55%	-244.37%	-309.25%	-499.14%	-614.97%
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	0.03	0.39	0.08	0.13	0.40	0.20	0.17	0.50	0.56	0.27	0.39
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	44.65	43.09	18.55	57.22	71.50	19.25	17.90
Inventory Turnover	0.00	0.00	0.00	0.00	2.08	0.00	0.00	3.56	5.26	0.00	0.00
Fixed Asset Turnover	0.00	73.91	0.00	0.00	71.32	49.97	32.64	100.81	113.07	78.74	120.99
Accounts Payable Turnover	0.00	1.75	0.00	0.00	1.15	0.00	0.00	2.42	2.76	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	8.17	8.47	19.68	6.38	5.11	18.96	20.40
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	175.26	0.00	0.00	102.48	69.34	0.00	0.00
Days Payable Outstanding (DPO)	0.00	208.77	0.00	0.00	316.69	0.00	0.00	151.13	132.47	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	-208.77	0.00	0.00	-133.26	8.47	19.68	-42.27	-58.02	18.96	20.40
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-14	-6.01	22	27	27	15	30	34	26	24	24
Invested Capital Turnover	0.04	-2.36	0.09	0.16	2.38	2.25	0.37	0.91	1.09	0.93	0.87
Increase / (Decrease) in Invested Capital	-180	-7.21	-141	-130	40	21	7.59	7.37	-0.73	9.39	-6.22
Enterprise Value (EV)	240	128	153	0.00	100	150	102	105	105	60	43
Market Capitalization	266	145	149	0.00	77	158	98	93	88	48	26
Book Value per Share	$0.39	$0.38	$0.64	$0.39	$0.14	$0.77	$0.61	$0.49	$0.32	$0.29	$0.17
Tangible Book Value per Share	$0.31	$0.25	($0.30)	($0.46)	($0.72)	$0.04	($0.01)	($0.20)	($0.25)	($0.26)	($0.34)
Total Capital	12	10	32	34	36	59	58	55	48	48	44
Total Debt	0.00	0.00	14	22	32	32	32	32	33	35	36
Total Long-Term Debt	0.00	0.00	8.69	19	28	28	28	28	28	28	28
Net Debt	-25	-16	4.45	14	22	-7.75	3.88	12	17	13	17
Capital Expenditures (CapEx)	0.85	1.31	0.77	1.01	1.04	0.86	0.66	1.99	1.97	0.52	0.67
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1.89	0.72	2.38	3.58	1.41	2.01	5.60	4.45	7.06	0.36	0.06
Debt-free Net Working Capital (DFNWC)	27	17	12	11	11	42	34	25	23	22	19
Net Working Capital (NWC)	27	17	6.63	7.82	7.54	38	30	21	18	16	11
Net Nonoperating Expense (NNE)	11	-3.87	2.14	1.41	5.95	19	-2.07	2.73	5.20	10	2.16
Net Nonoperating Obligations (NNO)	-25	-16	4.02	14	22	-12	3.88	12	11	11	15
Total Depreciation and Amortization (D&A)	0.76	0.44	0.30	1.20	1.21	1.29	1.38	1.68	1.81	1.91	1.85
Debt-free, Cash-free Net Working Capital to Revenue	57.52%	12.71%	27.12%	25.13%	9.13%	19.98%	58.09%	16.13%	24.53%	1.99%	0.26%
Debt-free Net Working Capital to Revenue	825.37%	301.94%	133.65%	79.59%	69.13%	417.35%	351.24%	91.85%	79.99%	122.26%	79.66%
Net Working Capital to Revenue	825.37%	301.94%	75.52%	54.94%	48.95%	379.81%	312.83%	77.32%	64.14%	88.37%	47.92%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.08)	($0.44)	($0.36)	($0.41)	($0.59)	($0.10)	($0.18)	($0.26)	($0.27)	($0.12)
Adjusted Weighted Average Basic Shares Outstanding	0.00	21.96M	28.40M	31.39M	31.76M	32.02M	42.95M	45.25M	46.05M	45.54M	54.03M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($0.41)	($0.59)	($0.10)	($0.18)	($0.26)	($0.27)	($0.12)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	21.96M	31.39M	31.39M	31.76M	32.02M	42.95M	45.25M	46.05M	45.54M	54.03M
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	0.00	28.29M	31.39M	31.39M	34.76M	42.91M	45.54M	45.91M	46.24M	48.72M	48.73M
Normalized Net Operating Profit after Tax (NOPAT)	-9.09	-9.55	-10	-9.82	-7.18	-1.75	-6.52	-5.64	-6.79	-1.76	-4.29
Normalized NOPAT Margin	-447.36%	-347.56%	-301.09%	-164.10%	-223.96%	0.00%	-213.74%	-79.62%	-154.09%	0.00%	-52.63%
Pre Tax Income Margin	-996.55%	-206.79%	-362.89%	-187.48%	-269.72%	0.00%	-66.95%	-118.12%	-228.27%	0.00%	-79.45%
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%	0.00%	-1.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

PSQ Holdings (NYSE: PSQH) shows a business with improving revenue momentum, but profitability and cash flow remain under meaningful pressure. In Q1 2026, revenue rose to $8.2 million, up sharply from $3.1 million in Q1 2025 and $4.4 million in Q3 2025. However, the company still posted a net loss of $6.5 million and used $4.1 million in operating cash during the quarter.

The biggest positive trend is top-line growth. Revenue has generally improved year over year, and Q1 2026 was the strongest revenue quarter in the data provided. That suggests the core business is still expanding, even if costs are not yet under control.

Q1 2026 revenue of $8.2 million was well above the $3.1 million posted in Q1 2025.
Gross profit in Q1 2026 was equal to revenue, indicating no reported cost of revenue in the quarter.
Cash and equivalents plus restricted cash and short-term investments totaled about $18.5 million at the end of Q1 2026.
The company generated positive financing inflows in Q1 2026, including $4.4 million in new debt issuance.
Common equity improved to $8.3 million in Q1 2026 from $4.0 million at year-end 2025 and $26.0 million in Q1 2025, reflecting balance-sheet movement over time.
Q1 2026 operating revenue was higher than the prior quarter, but the business remains highly loss-making.
The company has a large asset base relative to current cash, with goodwill and intangible assets making up a meaningful share of total assets.
Debt remains a significant part of the capital structure, with $28.4 million of long-term debt and $7.4 million of short-term debt in Q1 2026.
Q1 2026 operating cash flow was negative $4.1 million, showing the core business is still consuming cash.
Q1 2026 net loss of $6.5 million followed a $11.8 million loss in Q4 2025, so profitability is still weak.
Operating expenses in Q1 2026 were $14.3 million, far above revenue, which kept operating income deeply negative.
Interest and debt costs remain heavy, with cash interest paid of about $947 thousand in Q1 2026.
Quarterly cash balances have been volatile, and the company reported a net cash outflow of $4.3 million in Q1 2026.

Looking at the multi-year trend, PSQH has improved revenue from 2023 levels, but losses have stayed persistent. Revenue moved from $2.0 million in Q3 2023 and $3.5 million in Q1 2024 to $8.2 million in Q1 2026, but the company has not yet scaled to profitability. Net losses have generally ranged from about $4.4 million to more than $20 million in the quarters shown, depending on non-operating items and one-time effects.

Balance-sheet quality is mixed. PSQH ended Q1 2026 with $54.4 million in total assets and $46.0 million in total liabilities, leaving common equity of only $8.3 million. That is a thin equity cushion for a company still burning cash. The presence of substantial goodwill and intangible assets also means a notable portion of assets is not cash-like.

Bottom line: PSQ Holdings is showing real revenue growth, but it is still a high-risk turnaround story. Until the company can reduce operating losses and turn operating cash flow positive, the stock will likely remain sensitive to financing needs and balance-sheet pressure.

07/14/26 11:33 AM ETAI Generated. May Contain Errors.

Colombier Acquisition Corp. II Financials - Frequently Asked Questions

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

Colombier Acquisition Corp. II's net income appears to be on an upward trend, with a most recent value of -$36.61 million in 2025, rising from -$6.98 million in 2022. The previous period was -$57.69 million in 2024. Check out Colombier Acquisition Corp. II's forecast to explore projected trends and price targets.

Colombier Acquisition Corp. II's total operating income in 2025 was -$31.96 million, based on the following breakdown:

Total Gross Profit: $18.22 million
Total Operating Expenses: $50.18 million

Over the last 3 years, Colombier Acquisition Corp. II's total revenue changed from $475.18 thousand in 2022 to $18.22 million in 2025, a change of 3,734.3%.

Colombier Acquisition Corp. II's total liabilities were at $46.24 million at the end of 2025, a 3.8% decrease from 2024, and a 267.0% increase since 2021.

In the past 4 years, Colombier Acquisition Corp. II's cash and equivalents has ranged from $841.23 thousand in 2021 to $35.73 million in 2024, and is currently $14.64 million as of their latest financial filing in 2025.

Over the last 3 years, Colombier Acquisition Corp. II's book value per share changed from 0.16 in 2022 to 0.29 in 2025, a change of 84.3%.

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Financial statements for NYSE:CLBR last updated on 7/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Colombier Acquisition Corp. II (CLBR) Financials

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Colombier Acquisition Corp. II (CLBR) Financials

Annual Income Statements for Colombier Acquisition Corp. II

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Quarterly Cash Flow Statements for Colombier Acquisition Corp. II

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Quarterly Balance Sheets for Colombier Acquisition Corp. II

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Quarterly Metrics And Ratios for Colombier Acquisition Corp. II

Financials Breakdown Chart

Key Financial Trends

Colombier Acquisition Corp. II Financials - Frequently Asked Questions

When does Colombier Acquisition Corp. II's fiscal year end?

How has Colombier Acquisition Corp. II's net income changed over the last 3 years?

What is Colombier Acquisition Corp. II's operating income?

How has Colombier Acquisition Corp. II's revenue changed over the last 3 years?

How much debt does Colombier Acquisition Corp. II have?

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How has Colombier Acquisition Corp. II's book value per share changed over the last 3 years?

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