Black Hawk Acquisition Corp (BKHA) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 15, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BKHA SEC filings page.
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).
Capital flows, not operating revenue, dominate this acquisition vehicle, while negative equity leaves liquidity structurally tight.
FY2025's positive net income coexisted with operating cash flow of-$650K , indicating reported earnings were not being converted into cash from operations. The same mismatch in FY2024—net income of$1.9M against operating cash flow of-$554K —makes this a recurring earnings-quality pattern, not a one-year quirk.
FY2025 current assets of
The capital account, rather than business operations, carried the reported cash movement: FY2024 investing cash flow used
Financial Health Signals
Black Hawk Acquisition 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.
Black Hawk Acquisition Corp passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
For every $1 of reported earnings, Black Hawk Acquisition Corp used $0.49 of operating cash (-$650K OCF vs $1.3M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Black Hawk Acquisition Corp reported an operating loss of $916K against $15K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Black Hawk Acquisition Corp reported $89K in net income in Q2 2026. This represents a decrease of 82.9% from the same quarter a year earlier. Against the prior quarter it is down 36.4%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Black Hawk Acquisition Corp held $0 in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
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.
BKHA 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| SG&A Expenses | $79K-63.6% | $24K-69.3% | N/A | $311K+466.9% | $218K-35.1% | $79K+156.6% | N/A | $55K |
| Operating Income | -$109K+55.9% | -$54K+50.2% | N/A | -$341K-301.9% | -$248K+31.1% | -$109K-254.3% | N/A | -$85K |
| Interest Expense | $24K-96.8% | $19K-97.5% | N/A | $495K-48.8% | $768K+14.9% | $766K | N/A | $965K |
| Net Income | $89K-82.9% | $140K-78.8% | N/A | $154K-82.5% | $521K+67.4% | $658K+2244.5% | N/A | $884K |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, EBITDA, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
BKHA 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $25.4M-65.5% | $24.8M-65.9% | $23.9M-66.9% | $23.3M-67.3% | $73.5M+4.3% | $72.8M+31984.0% | $72.1M+27330.9% | $71.4M |
| Current Assets | $63K-54.8% | $181K-11.6% | $51K-83.8% | $45K-88.7% | $140K-69.3% | $205K+123.5% | $314K+101.3% | $393K |
| Cash & Equivalents | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $30.5M-59.9% | $29.3M-60.9% | $27.7M-62.7% | $26.7M-63.7% | $76.0M+4.9% | $75.1M+29757.6% | $74.3M+28833.0% | $73.4M |
| Current Liabilities | $2.8M+996.1% | $2.3M+3180.3% | $1.5M+1988.3% | $946K+1773.3% | $251K+703.3% | $70K-72.3% | $71K-72.4% | $51K |
| Non-Current Liabilities | $27.7M-63.4% | $27.1M-63.9% | $26.2M-64.7% | $25.7M-65.0% | $75.8M+4.6% | $75.0M | $74.2M | $73.4M |
| Total Equity | -$5.1M-102.0% | -$4.5M-98.3% | -$3.8M-77.1% | -$3.3M-60.0% | -$2.5M-26.9% | -$2.3M-9183.4% | -$2.2M-35432.8% | -$2.1M |
| Retained Earnings | -$5.1M-102.2% | -$4.5M-98.5% | -$3.9M-77.3% | -$3.3M-60.0% | -$2.5M-26.9% | -$2.3M-4500.3% | -$2.2M-11421.3% | -$2.1M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
BKHA 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$237K+15.1% | -$110K+33.0% | -$100K-70.3% | -$108K-152.0% | -$279K+32.7% | -$163K-333.9% | -$59K-1803.4% | -$43K |
| Investing Cash Flow | -$450K | -$600K | -$300K | N/A | N/A | N/A | $0+100.0% | $0 |
| Financing Cash Flow | $520K | $848K | $425K | -$50.5M | N/A | N/A | $0-100.0% | $0 |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
BKHA 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.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Debt-to-Equity, Asset Turnover, FCF Margin.
Note: Shareholder equity is negative (-$3.8M), 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 (0.03), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where Black Hawk Acquisition Corp Ranks
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) recorded an outflow of $650K in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Black Hawk Acquisition Corp's total assets?
Black Hawk Acquisition Corp (BKHA) had $23.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Black Hawk Acquisition Corp's current ratio?
Black Hawk Acquisition Corp (BKHA) had a current ratio of 0.03 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Black Hawk Acquisition Corp's return on assets (ROA)?
Black Hawk Acquisition Corp (BKHA) had a return on assets of 5.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Black Hawk Acquisition Corp's P/E ratio?
Black Hawk Acquisition Corp (BKHA) trades at 37.5x earnings, its market capitalization divided by net income of $1.3M net income, FY2025. The market capitalization is $49.8M as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Black Hawk Acquisition Corp's price-to-sales ratio?
Black Hawk Acquisition Corp (BKHA) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $49.8M as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Black Hawk Acquisition Corp's debt-to-equity ratio negative or not reported?
Black Hawk Acquisition Corp (BKHA) has negative shareholder equity of -$3.8M as of fiscal year 2025, so no debt-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.
What is Black Hawk Acquisition Corp's Piotroski F-Score?
Black Hawk Acquisition Corp (BKHA) has a Piotroski F-Score of 3 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.
Are Black Hawk Acquisition Corp's earnings high quality?
For every $1 of reported earnings, Black Hawk Acquisition Corp (BKHA) used $0.49 of operating cash (-$650K OCF vs $1.3M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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) reported an operating loss of $916K against $15K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.