Revenue: As of FY2026 Q1, the actual value is USD 0.

EPS: As of FY2026 Q1, the actual value is USD -0.02.

EBIT: As of FY2026 Q1, the actual value is USD -5.208 M.

Overview

Armada Acquisition Corp. II is a blank check company that has not yet commenced operations or generated operating revenues, with operating revenues expected only after the completion of a Business Combination. The company generates non-operating income from interest on investments held in its Trust Account .

Net Loss

• For the three months ended December 31, 2025, the company reported a net loss of - $603,760 .
• This compares to a net loss of - $45,784 for the period from October 3, 2024 (inception) through December 31, 2024 .

General and Administrative Costs

• General and administrative costs amounted to $2,905,649 for the three months ended December 31, 2025, primarily consisting of accounting and legal fees related to business combination agreements .
• For the period from October 3, 2024 (inception) through December 31, 2024, these costs were $45,784 .

Interest Income

• Interest earned on cash and marketable securities held in the Trust Account was $2,301,889 for the three months ended December 31, 2025 .
• No interest income was reported for the period from October 3, 2024 (inception) through December 31, 2024 .

Cash and Marketable Securities

• As of December 31, 2025, cash and marketable securities held in the Trust Account totaled $236,930,055, including approximately $5,780,055 in interest income .
• This represents an increase from $234,628,166 as of September 30, 2025 .
• The company’s operating bank accounts held $287,074 in cash as of December 31, 2025, down from $361,105 as of September 30, 2025 .

Cash Flow from Operating Activities

• Cash used in operating activities for the three months ended December 31, 2025, was - $74,031 .
• For the period from October 3, 2024 (inception) through December 31, 2024, cash used in operating activities was $0 .

Working Capital

• As of December 31, 2025, the company had a working capital deficit of - $3,812,654 .

Future Outlook and Strategy

Armada Acquisition Corp. II aims to complete a business combination by November 22, 2026, focusing on target businesses in FinTech, Software-as-a-Service (SaaS), or artificial intelligence (AI) . The company entered into a Business Combination Agreement on October 19, 2025, with Evernorth Holdings Inc., Pathfinder Digital Assets LLC, and Ripple Labs Inc. . To finance this, $224.55 million in cash and 262,119,096.061435 XRP tokens have been secured through PIPE transactions, with proceeds to be used for working capital, general corporate purposes, and XRP purchase .