<span item_type="fundamental" item_id="5737d3516fdda096d3417caa326da078" counter_id="ST/US/FNVWF" env="prod"></span><span item_type="announcement" item_id="523956609439373441" env="prod"></span><p>Revenue: As of FY2024, the actual value is USD 0.</p><p>EPS: As of FY2024, the actual value is USD -0.03.</p><p>EBIT: As of FY2024, the actual value is USD -1.622 M.</p><p></p><h3>Segment Revenue</h3><ul><li>The company has not generated any operating revenues as of December 31, 2024, and does not expect to generate operating revenues until the consummation of its initial Business Combination.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1857855/000164117225013717/form10-k.htm"></span></li></ul><h3>Operational Metrics</h3><ul><li>Net loss for the year ended December 31, 2024, was $215,486, compared to a net income of $2,494,909 for the year ended December 31, 2023.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1857855/000164117225013717/form10-k.htm"></span></li><li>Formation, general, and administrative expenses for the year ended December 31, 2024, were $1,622,093, compared to $1,993,129 for the year ended December 31, 2023.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1857855/000164117225013717/form10-k.htm"></span></li></ul><h3>Cash Flow</h3><ul><li>Net cash used in operating activities for the year ended December 31, 2024, was $877,915.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1857855/000164117225013717/form10-k.htm"></span></li><li>Net cash provided by investing activities for the year ended December 31, 2024, was $42,397,606, primarily driven by cash withdrawn from the Trust Account in connection with redemptions.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1857855/000164117225013717/form10-k.htm"></span></li><li>Net cash used in financing activities for the year ended December 31, 2024, was $41,518,959, primarily due to redemption payments.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1857855/000164117225013717/form10-k.htm"></span></li></ul><h3>Unique Metrics</h3><ul><li>As of December 31, 2024, the company had $10,208,877 in investments held in the Trust Account, which are invested in an interest-bearing demand deposit account.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1857855/000164117225013717/form10-k.htm"></span></li></ul><h3>Outlook / Guidance</h3><ul><li>The company has until November 8, 2025, to complete its initial Business Combination, unless extended by shareholders’ approval.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1857855/000164117225013717/form10-k.htm"></span></li><li>If unable to complete the Business Combination within the specified period, the company will cease operations and liquidate.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1857855/000164117225013717/form10-k.htm"></span></li></ul>

FNVWF

FINNOVATE ACQUISITION CORP C/WTS 30/09/2026 (TO PUR COM) | 10-K: FY2024 Revenue: USD 0