---
title: "CROWN PROPTECH ACQUISITIONS | 10-K: FY2025 Revenue: USD 0"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/281247748.md"
datetime: "2026-03-31T21:14:10.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/281247748.md)
  - [en](https://longbridge.com/en/news/281247748.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/281247748.md)
---

# CROWN PROPTECH ACQUISITIONS | 10-K: FY2025 Revenue: USD 0

Revenue: As of FY2025, the actual value is USD 0.

EPS: As of FY2025, the actual value is USD -0.41.

EBIT: As of FY2025, the actual value is USD -3.259 M.

CROWN PROPTECH ACQUISITIONS operates as a single reportable segment and has not generated any operating revenues to date, focusing instead on its formation, initial public offering, and the search for a business combination .

#### Operational Metrics

-   **Net Loss**: The company reported a net loss of - $3,013,571 for the year ended December 31, 2025, compared to - $204,458 for the year ended December 31, 2024 .
-   **Operating Costs**: Operating costs were $3,024,671 for the year ended December 31, 2025, an increase from $700,481 for the year ended December 31, 2024 .
-   **Non-Redemption Agreement Expense**: This expense was - $223,138 for 2025, down from - $451,322 for 2024 .
-   **Change in Fair Value of Warrant Liabilities**: A change of $14 was recorded for 2025, with no change in 2024 .
-   **Trust Dividend Income**: Income from trust dividends decreased to $234,224 in 2025 from $947,345 in 2024 .
-   **Basic and Diluted Net Loss Per Share (Redeemable Class A)**: The loss was - $0.41 per share in 2025, compared to - $0.02 per share in 2024 .
-   **Basic and Diluted Net Loss Per Share (Non-Redeemable Class B)**: The loss was - $0.41 per share in 2025, compared to - $0.02 per share in 2024 .

#### Cash Flow

-   **Net Cash Used in Operating Activities**: The company used - $1,108,724 in operating activities in 2025, compared to - $273,885 in 2024 .
-   **Cash Withdrawn from Trust Account for Redemption**: $250,057 was withdrawn in 2025, significantly less than the $40,209,102 withdrawn in 2024 .
-   **Net Cash Provided by (Used in) Financing Activities**: Financing activities provided $858,667 in 2025, a substantial improvement from - $39,935,444 used in 2024 .

#### Unique Financial Indicators

-   **Investments Held in Trust Account**: The balance was $5,788,250 as of December 31, 2025, down from $5,804,083 as of December 31, 2024 .
-   **Cash Outside Trust Account**: The company maintained $425 in cash outside the trust account for both December 31, 2025, and December 31, 2024 .
-   **Working Capital Deficits**: The working capital deficit increased to - $5,297,042 as of December 31, 2025, from - $2,977,586 as of December 31, 2024 .
-   **Class A Ordinary Shares Subject to Possible Redemption**: As of December 31, 2025, there were 491,806 shares at a redemption value of $11.77 per share, compared to 513,613 shares at $11.30 per share as of December 31, 2024 .
-   **Accounts Payable and Accrued Expenses**: These increased to $3,705,873 in 2025 from $1,790,528 in 2024 .
-   **Due to Related Parties**: Amounts due to related parties rose to $1,592,586 in 2025 from $1,189,077 in 2024 .
-   **Capital Contribution from Sponsors**: Sponsors contributed $928,353 in 2025, up from $451,322 in 2024 .

#### Outlook / Guidance

CROWN PROPTECH ACQUISITIONS has until March 11, 2027, to complete an initial business combination, having entered into an agreement with Mkango Rare Earths Limited (f/k/a Lancaster Exploration Limited) . The deadline for this combination was extended to September 30, 2026, with a potential further extension to December 31, 2026 . However, management has identified significant doubt about the company’s ability to continue as a going concern due to liquidity issues and the risk of mandatory liquidation if a business combination is not completed .

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