Alpha Star Acquisition Corp Financials
This page shows Alpha Star Acquisition Corp (ALSAF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Balance-sheet contraction and persistent cash burn show ALSAF financing itself by shrinking, not by self-funding operations.
Between the last two fiscal years, total assets fell to$724K from$11.1M ; because operating cash flow stayed negative and equity remained below zero, the balance sheet appears to be getting consumed rather than stabilized. Liabilities did come down, but not enough to offset the much faster erosion of assets, which is why liquidity pressure worsened instead of improving.
The negative equity position persisted in every reported year, which means liabilities kept exceeding assets even when the deficit narrowed. In that setting, leverage ratios can look less extreme without the company actually regaining a normal capital base; at the latest year-end, current assets were only
In each reported year before the latest one, net income was positive while operating cash flow stayed negative, so accounting earnings were not turning into operating cash. The latest year removed even that cushion: profit also turned negative, while cash burn deepened, which makes prior earnings look more non-cash than self-sustaining.
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Alpha Star Acquisition Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Alpha Star Acquisition Corp's current ratio of 0.00 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Alpha Star Acquisition Corp passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.
For every $1 of reported earnings, Alpha Star Acquisition Corp generates $0.77 in operating cash flow (-$652K OCF vs -$847K net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Alpha Star Acquisition Corp reported -$847K in net income in fiscal year 2025. This represents a decrease of 163.0% from the prior year.
Cash & Balance Sheet
Alpha Star Acquisition Corp held $0 in cash against $0 in long-term debt as of fiscal year 2025.
Alpha Star Acquisition Corp had 3M shares outstanding in fiscal year 2025. This represents a decrease of 0.7% from the prior year.
Margins & Returns
Capital Allocation
ALSAF Income Statement
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $173K | N/A | $180K+26.1% | $142K-36.4% | $224K | N/A | $459K+315.6% | $111K |
| Operating Income | -$173K | N/A | -$180K-26.1% | -$142K+36.4% | -$224K | N/A | -$459K-315.6% | -$111K |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$166K | N/A | -$174K-26.2% | -$137K+31.5% | -$201K | N/A | -$139K-118.9% | $738K |
| EPS (Diluted) | $5.01 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
ALSAF Balance Sheet
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | N/A | $724K-14.3% | $846K+6.8% | $792K+71.6% | $461K-95.8% | $11.1M+1.1% | $11.0M-83.5% | $66.8M |
| Current Assets | N/A | $6K-96.5% | $179K-31.4% | $261K+540.8% | $41K-99.6% | $10.8M+42967.9% | $25K-48.5% | $49K |
| Cash & Equivalents | N/A | $0 | N/A | N/A | N/A | $0 | N/A | N/A |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | N/A | $3.7M-30.7% | $5.3M+6.8% | $5.0M+13.1% | $4.4M-69.5% | $14.4M+0.2% | $14.4M-81.2% | $76.6M |
| Current Liabilities | N/A | $2.0M+11.8% | $1.8M+14.4% | $1.6M+42.1% | $1.1M-90.4% | $11.6M+1683.9% | $648K-90.8% | $7.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | N/A | -$3.0M+33.8% | -$4.5M-6.8% | -$4.2M-6.3% | -$3.9M-9.1% | -$3.6M-5.9% | -$3.4M+65.3% | -$9.8M |
| Retained Earnings | N/A | -$11.2M-3.1% | -$10.9M-1.6% | -$10.7M-1.3% | -$10.6M-1.9% | -$10.4M+0.2% | -$10.4M-5.7% | -$9.8M |
ALSAF Cash Flow Statement
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$344K-383.4% | -$71K-36.9% | -$52K+83.7% | -$319K-52.0% | -$210K+35.6% | -$326K | N/A | N/A |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$105K-133.3% | -$45K+65.4% | -$130K-23.8% | -$105K | N/A | -$37K | N/A | -$210K |
| Financing Cash Flow | $449K+286.5% | $116K-36.2% | $182K-57.1% | $424K | N/A | $363K | N/A | $210K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $10.8M | $0 | $0 | $0 | N/A | -$1 | N/A | $0 |
ALSAF Financial Ratios
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | N/A | -20.5%-3.2pp | -17.4%+26.1pp | -43.5% | N/A | -1.3%-2.4pp | 1.1% |
| Current Ratio | N/A | 0.00-0.1 | 0.10-0.1 | 0.17+0.1 | 0.04-0.9 | 0.94+0.9 | 0.04+0.0 | 0.01 |
| Debt-to-Equity | N/A | -1.24-0.1 | -1.190.0 | -1.19-0.1 | -1.12+2.9 | -3.99+0.2 | -4.22+3.6 | -7.79 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$3.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Note: The current ratio is below 1.0 (0.00), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Frequently Asked Questions
Is Alpha Star Acquisition Corp profitable?
No, Alpha Star Acquisition Corp (ALSAF) reported a net income of -$847K in fiscal year 2025.
What is Alpha Star Acquisition Corp's operating cash flow?
Alpha Star Acquisition Corp (ALSAF) generated -$652K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Alpha Star Acquisition Corp's total assets?
Alpha Star Acquisition Corp (ALSAF) had $724K in total assets as of fiscal year 2025, including both current and long-term assets.
What is Alpha Star Acquisition Corp's current ratio?
Alpha Star Acquisition Corp (ALSAF) had a current ratio of 0.00 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Alpha Star Acquisition Corp's debt-to-equity ratio?
Alpha Star Acquisition Corp (ALSAF) had a debt-to-equity ratio of -1.24 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Alpha Star Acquisition Corp's return on assets (ROA)?
Alpha Star Acquisition Corp (ALSAF) had a return on assets of -116.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Alpha Star Acquisition Corp's cash runway?
Based on fiscal year 2025 data, Alpha Star Acquisition Corp (ALSAF) had $0 in cash against an annual operating cash burn of $652K. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
Why is Alpha Star Acquisition Corp's debt-to-equity ratio negative or unusual?
Alpha Star Acquisition Corp (ALSAF) has negative shareholder equity of -$3.0M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Alpha Star Acquisition Corp's Piotroski F-Score?
Alpha Star Acquisition Corp (ALSAF) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Alpha Star Acquisition Corp's earnings high quality?
Alpha Star Acquisition Corp (ALSAF) has an earnings quality ratio of 0.77x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Alpha Star Acquisition Corp?
Alpha Star Acquisition Corp (ALSAF) scores 0 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.