Idea Acquisition | 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 -0.16.
EBIT: As of FY2026 Q1, the actual value is USD -1.732 M.
Idea Acquisition Corp. operates as a single reportable segment and has not generated any revenues to date, with operating revenues not expected until after the completion of a Business Combination .
Operational Metrics
For the three months ended March 31, 2026, Idea Acquisition Corp. reported a net loss of - $4,408,764 . This loss was primarily driven by operating costs of $142,416 and compensation expense of $6,182,319, partially offset by interest income on marketable securities held in the Trust Account of $1,589,271 and a positive change in overallotment liability of $326,700 .
Cash Flow
Net cash used in operating activities was - $329,579 for the three months ended March 31, 2026 . Net cash used in investing activities totaled - $350,000,000, primarily due to the investment of cash in the Trust Account . Net cash provided by financing activities amounted to $350,323,495 . As of March 31, 2026, the company had no cash or cash equivalents . The company had a working capital deficit of - $267,830 and a share subscription receivable of $1,346,926 within equity .
Key Financial Position Metrics
As of March 31, 2026, marketable securities held in the Trust Account totaled $351,589,271, including approximately $1,589,271 of interest income . In contrast, as of December 31, 2025, there were no marketable securities held in the Trust Account .
Future Outlook and Strategy
Idea Acquisition Corp.’s core business focus is to effect a business combination with one or more businesses, targeting opportunities in the software vertical that leverage large language models or other AI tools . The company intends to use substantially all funds held in the Trust Account to complete its Business Combination . While management believes it has sufficient funds for its working capital needs for the next year, it acknowledges that if costs exceed estimates, it may need additional financing .