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ALPHA STAR ACQ CORP (ALSAF) Financials

ALSAF
FY2025 annual
Revenue Not reported for FY2025
Net Income -$847K -163.0% YoY
EPS (Diluted) Not reported for FY2025
Operating Cash Flow -$652K n/m YoY
Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 26, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ALSAF SEC filings page.

This page shows ALPHA STAR ACQ 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).

Rhea AI ALSAF FY2025

The filings portray a shrinking acquisition vehicle, not an operating business, with assets collapsing and liabilities exceeding assets by FY2025.

In FY2023, net income of $4.9M sat beside an operating loss of $435K, a gap that points to non-operating items driving reported results rather than recurring operations. By FY2025, the company recorded a net loss of $847K alongside operating cash flow of -$652K, bringing accounting results closer to its cash economics.

By FY2025, total assets had fallen from $11.1M in FY2024 to $724K, signaling that the vehicle’s financial base was being unwound rather than expanded. Liabilities were $3.7M against negative equity, so the balance sheet was not funded by residual shareholder capital.

The current ratio fell from 0.9x in FY2024 to 0.0x in FY2025, meaning near-term assets were far below near-term obligations at the latest date. Operating cash flow moved from -$243K to -$652K, so cash demands intensified even as the asset pool shrank.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

ALPHA STAR ACQ CORP does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial
2/6

ALPHA STAR ACQ CORP passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.

Key Financial Metrics

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Earnings & Revenue

Net Income
-$142K
YoYn/m
QoQn/m

ALPHA STAR ACQ CORP reported a net loss of $142K in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.

Revenue

Not reported for Q2 2026.

EBITDA

Not reported for Q2 2026.

EPS (Diluted)

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt
$0
QoQn/m

ALPHA STAR ACQ CORP held $0 in cash as of Q2 2026; no long-term debt figure is on record for that period.

Shares Outstanding
3M
YoY0.0%
QoQ0.0%

ALPHA STAR ACQ CORP had 3M shares outstanding in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

None of these metrics is reported for Q2 2026.

Capital Allocation

None of these metrics is reported for Q2 2026.

ALSAF Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ALSAF quarterly income statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
SG&A ExpensesN/A$173K-22.9%N/A$180K-60.9%$142K+28.8%$224K-6.3%N/A$459K+339.2%
Operating Income-$149Kn/m-$173Kn/mN/A-$180Kn/m-$142Kn/m-$224Kn/mN/A-$459Kn/m
Net Income-$142Kn/m-$166Kn/mN/A-$174Kn/m-$137K-118.6%-$201K-127.7%N/A-$139K-111.3%

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, EBITDA, Interest Expense, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).

ALSAF Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ALSAF quarterly balance sheet
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Total Assets$849K+7.2%$892K+93.3%$724K-93.5%$846K-92.3%$792K-98.8%$461K-99.3%$11.1M-89.1%$11.0M-89.0%
Current Assets$34K-86.9%$84K+106.3%$6K-99.9%$179K+613.6%$261K+436.3%$41K-38.5%$10.8M+86466.5%$25K-78.9%
Cash & Equivalents$0$0$0n/mN/AN/AN/A$0N/A
Short-Term Investments$0$0$0n/mN/AN/AN/A$0N/A
Long-Term Investments$0$0$0n/mN/AN/AN/A$0N/A
Total Liabilities$4.2M-14.9%$4.1M-6.2%$3.7M-74.4%$5.3M-63.0%$5.0M-93.5%$4.4M-94.1%$14.4M-87.0%$14.4M-86.6%
Current Liabilities$2.5M+56.7%$2.4M+113.7%$2.0M-82.5%$1.8M+178.9%$1.6M-77.6%$1.1M-83.5%$11.6M+86.8%$648K-87.7%
Non-Current Liabilities$950K-67.0%$950K-67.0%$950K-67.0%$2.9M0.0%$2.9M0.0%$2.9M0.0%$2.9M0.0%$2.9M0.0%
Total Equity-$3.4Mn/m-$3.2Mn/m-$3.0Mn/m-$4.5Mn/m-$4.2Mn/m-$3.9Mn/m-$3.6Mn/m-$3.4Mn/m
Retained Earnings-$11.5Mn/m-$11.4Mn/m-$11.2Mn/m-$10.9Mn/m-$10.7Mn/m-$10.6Mn/m-$10.4Mn/m-$10.4Mn/m

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.

ALSAF Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ALSAF quarterly cash flow statement
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Operating Cash Flow-$30Kn/m-$344Kn/m-$71Kn/m-$52K-$319K-$210K-$326Kn/mN/A
Investing Cash Flow$22Kn/m-$105K-$45Kn/m-$130K-$105Kn/mN/A-$37Kn/mN/A
Financing Cash Flow$8K-98.2%$449K$116K-68.0%$182K$424K+101.9%N/A$363K-59.9%N/A
Share BuybacksN/AN/A$0-100.0%$0$0n/mN/A-$1N/A

Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid.

ALSAF Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

ALSAF quarterly financial ratios
MetricQ2'2610-QQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-Q
Return on Assets-16.8%+0.6pp-18.6%+24.9ppN/A-20.5%-19.3pp-17.4%-18.5pp-43.5%-44.6ppN/A-1.3%-2.5pp
Current Ratio0.01-0.2x0.040.0x0.00-0.9x0.10+0.1x0.17+0.2x0.040.0x0.94+0.9x0.040.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Debt-to-Equity, Liabilities-to-Equity, Asset Turnover, FCF Margin.

Note: Shareholder equity is negative (-$3.0M), which causes the debt-to-equity, liabilities-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 ACQ CORP profitable?

No, ALPHA STAR ACQ CORP (ALSAF) reported a net loss of $847K in fiscal year 2025.

What is ALPHA STAR ACQ CORP's operating cash flow?

ALPHA STAR ACQ CORP (ALSAF) recorded an outflow of $652K in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are ALPHA STAR ACQ CORP's total assets?

ALPHA STAR ACQ CORP (ALSAF) had $724K in total assets as of fiscal year 2025, including both current and long-term assets.

ALPHA STAR ACQ CORP (ALSAF) had 3M shares outstanding as of fiscal year 2025.

ALPHA STAR ACQ 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.

ALPHA STAR ACQ 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.

ALPHA STAR ACQ CORP (ALSAF) has negative shareholder equity of -$3.0M as of fiscal year 2025, so no debt-to-equity or liabilities-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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.

ALPHA STAR ACQ CORP (ALSAF) has a Piotroski F-Score of 2 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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.

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