Inflection Point Acquisition IV (BACQ) Financials
Ticker history: BACQ became MRLN (Merlin, Inc.) on . Earlier news and filings retain their original names and dates. View BACQ history.
Newest figures come from the 10-Q for Q1 FY2026, filed May 15, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BACQ SEC filings page.
This page shows Inflection Point Acquisition Corp. IV (BACQ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).
Reported profit did not become operating cash, while liabilities exceeded assets and left the vehicle with negative equity.
The combination of net income of$6.0M and operating cash flow of-$1.3M indicates that FY2025's reported earnings were not matched by cash generated from operations. For this type of vehicle, that gap makes the income figure less informative than the balance-sheet structure.
Liabilities of
Current assets of
Financial Health Signals
We do not publish a peer-relative financial health score for Inflection Point Acquisition Corp. IV, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The metrics below are current.
Key Financial Metrics
Earnings & Revenue
Inflection Point Acquisition Corp. IV generated $1.0M in revenue in Q1 2026. This represents an increase of 15.4% from the same quarter a year earlier.
Inflection Point Acquisition Corp. IV's EBITDA was -$26.6M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
Inflection Point Acquisition Corp. IV reported a net loss of $90.4M in Q1 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
Inflection Point Acquisition Corp. IV earned -$1.27 per diluted share (EPS) in Q1 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
Cash & Balance Sheet
Inflection Point Acquisition Corp. IV recorded an outflow of $25.8M in free cash flow in Q1 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
Inflection Point Acquisition Corp. IV held $125.3M in cash against $12.8M in long-term debt as of Q1 2026.
Not reported for Q1 2026.
Margins & Returns
Inflection Point Acquisition Corp. IV's gross margin was -63.7% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 81.4 percentage points from the same quarter a year earlier.
Not shown for Q1 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q1 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q1 2026.
Capital Allocation
Inflection Point Acquisition Corp. IV invested $14.1M in research and development in Q1 2026. This represents an increase of 111.0% from the same quarter a year earlier.
Inflection Point Acquisition Corp. IV spent $8.5M on share buybacks in Q1 2026, returning capital to shareholders by reducing shares outstanding.
Inflection Point Acquisition Corp. IV invested $2.2M in capex in Q1 2026, funding long-term assets and infrastructure. This represents an increase of 2196.8% from the same quarter a year earlier.
BACQ 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.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'24S-1 | Q3'2410-Q |
|---|---|---|---|---|---|---|---|
| Revenue | $1.0M+15.4% | N/A | N/A | N/A | $868K | N/A | N/A |
| Cost of Revenue | $1.6M+129.7% | N/A | N/A | N/A | $714K | N/A | N/A |
| Gross Profit | -$638K-514.3% | N/A | N/A | N/A | $154K | N/A | N/A |
| R&D Expenses | $14.1M+111.0% | N/A | N/A | N/A | $6.7M | N/A | N/A |
| SG&A Expenses | $14.1M+211.8% | N/A | $2.6M+5413.1% | $358K | $4.5M | N/A | $47K |
| Operating Income | -$27.0Mn/m | N/A | -$2.6Mn/m | -$358K | -$11.4M | N/A | -$47K |
| EBITDA | -$26.6Mn/m | N/A | N/A | N/A | -$11.0M | N/A | N/A |
| Interest Expense | $9K-99.4% | N/A | N/A | N/A | $1.6M | N/A | N/A |
| Income Tax | $48K+4700.0% | N/A | N/A | N/A | $1K | N/A | N/A |
| Net Income | -$90.4Mn/m | N/A | $84Kn/m | $2.3M | -$12.7M | N/A | -$47K |
| EPS (Basic) | -$1.27n/m | N/A | N/A | N/A | -$0.18 | N/A | N/A |
| EPS (Diluted) | -$1.27n/m | N/A | N/A | N/A | -$0.18 | N/A | N/A |
| Diluted Shares (Avg) | 72M+2.1% | N/A | N/A | N/A | 71M | N/A | N/A |
BACQ 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.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'24S-1 | Q3'2410-Q |
|---|---|---|---|---|---|---|---|
| Total Assets | $145.4M-43.4% | $80.6M-68.3% | $261.1M+88338.2% | $259.1M | $256.6M | $254.2M | $295K |
| Current Assets | $130.0M+5991.4% | $70.9M+2967.9% | $1.3M+113537.4% | $2.0M | $2.1M | $2.3M | $1K |
| Cash & Equivalents | $125.3M+457.4% | $59.3M+2716.1% | $1.0M | $1.8M | $22.5M | $2.1M | N/A |
| Accounts Receivable | $1.3M+264.7% | $368K-31.3% | N/A | N/A | $368K | $536K | N/A |
| Total Liabilities | $284.5M+5.5% | $154.2M-39.6% | $271.6M+78029.7% | $267.0M | $269.7M | $255.1M | $348K |
| Current Liabilities | $14.9M+1287.3% | $64.3M+5862.2% | $3.1M | $1.2M | $1.1M | $1.1M | N/A |
| Non-Current Liabilities | $269.6M+0.3% | $89.9M-64.6% | $268.5M | $265.8M | $268.7M | $254.0M | N/A |
| Long-Term Debt | $12.8M | $12.8M | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$139.1Mn/m | -$73.6Mn/m | -$10.5Mn/m | -$7.9M | -$13.1M | -$906K | -$52K |
| Retained Earnings | -$641.5Mn/m | -$551.1Mn/m | -$10.5Mn/m | -$7.9M | -$7.6M | -$7.4M | -$77K |
Not reported in any period shown, so not listed: Short-Term Investments, Inventory, Long-Term Investments, Goodwill.
BACQ 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.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'24S-1 | Q3'2410-Q |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$23.6Mn/m | -$271K | -$704K | $12.7M | -$13.1M | N/A | N/A |
| Depreciation & Amortization | $417K+9.4% | N/A | N/A | N/A | $381K | N/A | N/A |
| Stock-Based Compensation | $1.3M+152.4% | N/A | N/A | N/A | $513K | N/A | N/A |
| Capital Expenditures | $2.2M+2196.8% | N/A | N/A | N/A | $94K | N/A | N/A |
| Free Cash Flow | -$25.8Mn/m | N/A | N/A | N/A | -$13.2M | N/A | N/A |
| Investing Cash Flow | -$2.2Mn/m | N/A | N/A | N/A | -$79K | N/A | N/A |
| Financing Cash Flow | $91.8Mn/m | N/A | N/A | N/A | -$1.5M | N/A | N/A |
| Share Buybacks | $8.5M | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
BACQ 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.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'24S-1 | Q3'2410-Q |
|---|---|---|---|---|---|---|---|
| Gross Margin | -63.7%-81.4pp | N/A | N/A | N/A | 17.7% | N/A | N/A |
| Operating Margin | -2695.8% | N/A | N/A | N/A | -1313.8% | N/A | N/A |
| Net Margin | -9023.9% | N/A | N/A | N/A | -1466.9% | N/A | N/A |
| Return on Assets | -62.2%-57.2pp | N/A | 0.0%+16.1pp | 0.9% | -5.0% | N/A | -16.1% |
| Current Ratio | 8.72+6.7x | 1.10-1.0x | 0.43 | 1.62 | 1.99 | 2.14 | N/A |
| Asset Turnover | 0.010.0x | N/A | N/A | N/A | 0.00 | N/A | N/A |
| FCF Margin | -2575.2% | N/A | N/A | N/A | -1517.9% | N/A | N/A |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity, Liabilities-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$73.6M), 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.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Inflection Point Acquisition Corp. IV BACQ | FY2025 | N/A | $6.0M | N/A | N/A | — |
| RF Acquisition Corp II RFAI | FY2025 | N/A | $3.4M | N/A | $249.4M | — |
| Melar Acquisition Corp. I MACI | FY2025 | N/A | $5.5M | N/A | $66.2M | — |
| DT Cloud Star Acquisition Corporation DTSQ | FY2025 | $2.7M | $2.1M | 79.5% | $42.1M | 42/100 |
| Flag Ship Acquisition Corp. FSHP | FY2025 | $2.5M | $1.8M | 73.5% | $39.9M | 47/100 |
| Rising Dragon Acquisition Corp. RDAC | FY2025 | N/A | $1.6M | N/A | $38.3M | — |
Where Inflection Point Acquisition Corp. IV Ranks
Frequently Asked Questions
Yes, Inflection Point Acquisition Corp. IV (BACQ) reported a net income of $6.0M in fiscal year 2025.
As of fiscal year 2025, Inflection Point Acquisition Corp. IV (BACQ) had $59.3M in cash and equivalents against $12.8M in long-term debt.
Inflection Point Acquisition Corp. IV (BACQ) recorded an outflow of $1.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Inflection Point Acquisition Corp. IV (BACQ) had $80.6M in total assets as of fiscal year 2025, including both current and long-term assets.
Inflection Point Acquisition Corp. IV (BACQ) had a current ratio of 1.10 as of fiscal year 2025, which is considered adequate.
Inflection Point Acquisition Corp. IV (BACQ) had a return on assets of 7.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Inflection Point Acquisition Corp. IV (BACQ) has negative shareholder equity of -$73.6M 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.