---
title: "Dynamix 2025 10-K: Net Loss $13.22M, EPS Impacted by Warrant Fair-Value Changes"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/278177161.md"
description: "Dynamix reported a net loss of $13.22 million for the year ended December 31, 2025, primarily due to a $14.857 million change in the fair value of warrant liabilities. Dividends from investments in the trust account partially offset this loss, contributing $6.943 million. For the period from June 13, 2024, to December 31, 2024, the company also posted a net loss of $0.136 million. As a blank-check vehicle, Dynamix aims to complete a business combination and utilize trust funds for future operations."
datetime: "2026-03-06T22:35:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278177161.md)
  - [en](https://longbridge.com/en/news/278177161.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278177161.md)
---

# Dynamix 2025 10-K: Net Loss $13.22M, EPS Impacted by Warrant Fair-Value Changes

Dynamix reported a net loss of $13.22 million for the year ended December 31, 2025, driven in part by a $14.857 million change in the fair value of warrant liabilities; dividends earned on investments held in the trust account contributed $6.943 million to offset part of the loss. For the period June 13, 2024 through December 31, 2024, Dynamix posted a net loss of $0.136 million, which included a $0.415 million change in fair value of warrant liabilities. The company remains a blank-check vehicle focused on completing a business combination and deploying trust funds to scale post-transaction operations.

**Financial Highlights**

-   **Net income (loss), year ended Dec 31, 2025**: $(13.22) million (net loss; includes $14.857M change in fair value of warrant liabilities)
-   **Net income (loss), Jun 13, 2024–Dec 31, 2024**: $(0.136) million (net loss; includes $0.415M change in fair value of warrant liabilities)
-   **Dividends earned on investments held in trust account**: $6.943 million (recognized and contributed to offsetting 2025 net loss)

**Business Highlights**

-   **Business model**: Operates as a Cayman Islands blank-check (SPAC) formed to complete one or more business combinations.
-   **Capital formation**: Completed an IPO and private warrant sale that placed $166.4 million in a trust to fund a target acquisition and future operations.
-   **Transaction activity**: Entered a definitive Business Combination Agreement and related LLC subscription and stockholder agreements in 2025 to pursue a target combination.
-   **Operational readiness**: Established governance, advisory, public relations, and service contracts to support target diligence, integration and post-combination governance.
-   **Outlook & risk focus**: No operating revenues to date; primary focus is sourcing and closing a business combination and using trust funds to scale operations after closing.

Original SEC Filing: Dynamix Corp \[ ETHM \] - 10-K - Mar. 06, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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