Black Hawk Acquisition Corp Financials
This page shows Black Hawk Acquisition Corp (BKHA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 2 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).
Financial Health Signals
For every $1 of reported earnings, Black Hawk Acquisition Corp generates $-0.49 in operating cash flow (-$650K OCF vs $1.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Black Hawk Acquisition Corp earns $-59.2 in operating income for every $1 of interest expense (-$916K vs $15K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Black Hawk Acquisition Corp reported $1.3M in net income in fiscal year 2025. This represents a decrease of 30.6% from the prior year.
Cash & Balance Sheet
Black Hawk Acquisition Corp had 4M shares outstanding in fiscal year 2025. This represents a decrease of 53.5% from the prior year.
Margins & Returns
Capital Allocation
BKHA Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | N/A | $311K+43.0% | $218K+176.2% | $79K | N/A | $55K-83.6% | $335K+992.0% | $31K |
| Operating Income | N/A | -$341K-37.8% | -$248K-127.6% | -$109K | N/A | -$85K+76.4% | -$359K-1070.0% | -$31K |
| Interest Expense | N/A | $495K-35.6% | $768K+0.2% | $766K | N/A | $965K+44.5% | $668K | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | N/A | $154K-70.3% | $521K-20.9% | $658K | N/A | $884K+184.2% | $311K+1112.8% | -$31K |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
BKHA Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $23.9M+2.3% | $23.3M-68.2% | $73.5M+1.0% | $72.8M+0.9% | $72.1M+1.1% | $71.4M+1.3% | $70.5M+30956.1% | $227K |
| Current Assets | $51K+14.1% | $45K-68.1% | $140K-32.0% | $205K-34.6% | $314K-20.0% | $393K-13.7% | $455K+395.4% | $92K |
| Cash & Equivalents | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| 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 | $27.7M+4.0% | $26.7M-64.9% | $76.0M+1.3% | $75.1M+1.0% | $74.3M+1.2% | $73.4M+1.4% | $72.5M+28715.5% | $251K |
| Current Liabilities | $1.5M+56.7% | $946K+276.9% | $251K+260.2% | $70K-1.8% | $71K+40.5% | $51K+61.6% | $31K-87.6% | $251K |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$3.8M-16.0% | -$3.3M-31.3% | -$2.5M-10.8% | -$2.3M-5.0% | -$2.2M-4.8% | -$2.1M-4.1% | -$2.0M-8009.8% | -$25K |
| Retained Earnings | -$3.9M-16.1% | -$3.3M-31.3% | -$2.5M-10.8% | -$2.3M-5.0% | -$2.2M-4.8% | -$2.1M-4.1% | -$2.0M-3918.8% | -$50K |
BKHA Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$100K+6.9% | -$108K+61.3% | -$279K-70.6% | -$163K-176.8% | -$59K-37.8% | -$43K+89.7% | -$414K-1000.5% | -$38K |
| 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 | -$300K | N/A | N/A | N/A | $0 | $0 | N/A | N/A |
| Financing Cash Flow | $425K+100.8% | -$50.5M | N/A | N/A | $0 | $0-100.0% | $70.1M+249784.5% | -$28K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
BKHA Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| 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 | 0.7%-0.1pp | 0.7%-0.2pp | 0.9% | N/A | 1.2%+0.8pp | 0.4%+14.0pp | -13.5% |
| Current Ratio | 0.03-0.0 | 0.05-0.5 | 0.56-2.4 | 2.94-1.5 | 4.42-3.3 | 7.77-6.8 | 14.56+14.2 | 0.37 |
| Debt-to-Equity | -7.21+0.8 | -8.04+22.1 | -30.09+2.8 | -32.94+1.3 | -34.22+1.2 | -35.43+1.0 | -36.39-26.1 | -10.24 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Frequently Asked Questions
Is Black Hawk Acquisition Corp profitable?
Yes, Black Hawk Acquisition Corp (BKHA) reported a net income of $1.3M in fiscal year 2025.
What is Black Hawk Acquisition Corp's operating cash flow?
Black Hawk Acquisition Corp (BKHA) generated -$650K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Are Black Hawk Acquisition Corp's earnings high quality?
Black Hawk Acquisition Corp (BKHA) has an earnings quality ratio of -0.49x, 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.
Can Black Hawk Acquisition Corp cover its interest payments?
Black Hawk Acquisition Corp (BKHA) has an interest coverage ratio of -59.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.