CHURCHILL CAPITAL CORP X C/WTS 14/05/2030(TO PUR COM) | 10-Q: FY2025 Q3 Revenue: USD 0

Revenue: As of FY2025 Q3, the actual value is USD 0.

EPS: As of FY2025 Q3, the actual value is USD -0.64.

EBIT: As of FY2025 Q3, the actual value is USD -11.67 M.

Segment Revenue

• Public Units: The company sold 41.4 million Public Units at $10.00 per unit, generating gross proceeds of $414,000,000.

Operational Metrics

• Net Loss: For the three months ended September 30, 2025, the net loss was - $33,384,811, and for the nine months ended September 30, 2025, the net loss was - $31,429,725.
• General and Administrative Costs: For the three months ended September 30, 2025, these costs were $1,234,544, and for the nine months ended September 30, 2025, they were $1,437,976.
• Subscription Agreement Expense: $6,044,986 for both the three and nine months ended September 30, 2025.

Cash Flow

• Net Cash Used in Operating Activities: For the nine months ended September 30, 2025, net cash used was - $1,839,321.
• Net Cash Used in Investing Activities: - $413,000,000 for the nine months ended September 30, 2025.
• Net Cash Provided by Financing Activities: $415,974,883 for the nine months ended September 30, 2025.

Unique Metrics

• Income Earned on Cash and Marketable Securities Held in Trust Account: $4,393,948 for the three months ended September 30, 2025, and $6,552,466 for the nine months ended September 30, 2025.

Future Outlook and Strategy

• Core Business Focus: The company intends to complete its initial Business Combination using cash from the Initial Public Offering and the sale of Private Placement Units. The company has until May 15, 2027, to consummate the Business Combination.
• Non-Core Business: The company entered into a Merger Agreement with ColdQuanta, Inc., intending to effect a business combination transaction. The closing of the PIPE Investment is conditioned on all conditions set forth in the Merger Agreement having been satisfied or waived.