---
title: "SIM Acquisition I reports $0 revenue; Net income $8.79M (2025) and $4.75M (2024)"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280849621.md"
description: "SIM Acquisition I reported no operating revenue for 2025 and 2024, with net income of $8.79 million and $4.75 million respectively. The income primarily stems from interest earned on the company's trust account, offset by general and administrative expenses. The company is focused on acquiring healthcare companies and has approximately $230 million held in trust for future business combinations. Recent governance changes occurred following a sponsor acquisition, impacting leadership."
datetime: "2026-03-27T21:25:01.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280849621.md)
  - [en](https://longbridge.com/en/news/280849621.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280849621.md)
---

# SIM Acquisition I reports $0 revenue; Net income $8.79M (2025) and $4.75M (2024)

SIM Acquisition I reported no operating revenue for the periods covered and recorded net income of $8.79 million for 2025 and $4.75 million for 2024; the positive results primarily reflect interest earned on the company's trust account while general and administrative expenses reduced those gains. Earnings per share is not provided in the filing; the net income amounts arise mainly from trust interest (approximately $9.80M in 2025 and $5.32M in 2024) less G&A expenses. The company remains a blank-check vehicle pursuing an initial business combination and has continued organizational and deal-evaluation activities.

**Financial Highlights**

-   **Revenue:** $0.00 — the company has not generated operating revenues to date and will not until after a business combination.
-   **Net Income (2025):** $8.79 million — includes $9.80 million of interest income on the trust account offset by $1.01 million of general and administrative expenses.
-   **Net Income (2024):** $4.75 million — includes $5.32 million of interest income on the trust account offset by $0.58 million of general and administrative expenses.

**Business Highlights**

-   **Business focus:** Targeting healthcare companies for an initial business combination; management is evaluating acquisition candidates and conducting due diligence.
-   **Operational activity:** No revenue-producing operations to date; primary activities have been organizational setup, completing the IPO and pursuing potential targets.
-   **Liquidity and use of proceeds:** Approximately $230 million held in trust to be used for an eventual business combination; interest on the trust funds has funded taxes and limited outside working capital to pursue deals.
-   **Governance changes:** Sponsor acquisition resulted in CEO and board changes in January–March 2026, affecting leadership and oversight of deal execution.

Original SEC Filing: SIM Acquisition Corp. I \[ SIMA \] - 10-K - Mar. 27, 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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