FIGX CAPITAL ACQUISITION CORP. C/WTS 17/06/2030(TO PUR COM) | 10-Q: FY2026 Q1 Revenue: USD 0
I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q1, the actual value is USD 0.
EPS: As of FY2026 Q1, the actual value is USD 0.06.
EBIT: As of FY2026 Q1, the actual value is USD -1.536 M.
Financial Performance
Net Income (Loss)
For the three months ended March 31, 2026, FIGX Capital Acquisition Corp. reported a net income of $1,222,873. In contrast, for the period from February 20, 2025 (inception) through March 31, 2025, the company had a net loss of - $30,298.
Operating Costs and Expenses
Formation and general and administrative costs were $156,314 for the three months ended March 31, 2026, and $30,298 for the period from February 20, 2025 (inception) through March 31, 2025. Total fees incurred during the Initial Public Offering (IPO) amounted to $9,575,365, which included a cash underwriting fee of $2,620,000, a Deferred Underwriting Fee of $6,419,000, and $536,365 in other offering costs.
Interest Income
Interest earned on investments held in the Trust Account was $1,379,187 for the three months ended March 31, 2026. No interest income was reported for the period from February 20, 2025 (inception) through March 31, 2025.
Cash and Investments
Cash Balance
As of March 31, 2026, the company held $858,098 in cash, a decrease from $905,141 at December 31, 2025.
Investments Held in Trust Account
Investments held in the Trust Account totaled $155,087,314 at March 31, 2026, which is an increase from $153,708,127 at December 31, 2025.
Working Capital
Working capital as of March 31, 2026, was $732,822.
Cash Flow from Operating Activities
Cash used in operating activities for the three months ended March 31, 2026, was - $47,043. Changes in operating assets and liabilities provided $109,271 in cash for operating activities during this period. For the period from February 20, 2025 (inception) through March 31, 2025, cash used in operating activities was $0, with changes in operating assets and liabilities providing $11,458.
Related Party Transactions
Administrative Services
FIGX Capital Acquisition Corp. pays its Sponsor $10,000 per month for administrative services. For the three months ended March 31, 2026, $30,000 in fees were incurred for these services, with $4,259 owed to the Sponsor as of March 31, 2026.
Consulting Services
The Chief Financial Officer provides accounting services at a monthly rate of $3,000, commencing September 1, 2025. For the three months ended March 31, 2026, $9,000 in fees were incurred for these services.
IPO Promissory Note
A $164,210 loan from the Sponsor under an IPO Promissory Note was fully repaid from IPO proceeds.
Outlook and Strategy
FIGX Capital Acquisition Corp. aims to complete a Business Combination by June 30, 2027, with the possibility of extension subject to shareholder approval. Management believes current funds are sufficient for one year of working capital needs, though additional financing may be necessary if Business Combination costs exceed estimates or significant redemptions occur. The company’s core strategy is to identify differentiated private wealth/asset managers within the financial industry for potential acquisition.
