Blue Water Acquisition Corp. III Unit. (BLUWU) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BLUWU SEC filings page.
This page shows Blue Water Acquisition Corp. III Unit. (BLUWU) 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).
Negative equity and offsetting financing flows make balance-sheet structure the clearest visible operating mechanic.
At FY2025, liabilities of$267.8M exceeded assets of$258.9M , producing negative equity of-$8.9M ; debt-to-equity of -30.0x is therefore mathematically distorted by the deficit rather than a conventional leverage measure. Operating cash flow was-$938.9K despite net income of$4.7M , so reported earnings did not translate into operating cash.
A current ratio of 0.4x means current assets were below current liabilities, indicating short-term balance-sheet tightness alongside the broader equity deficit.
Investing cash flow of
Some figures from recent filings were inconsistent and were omitted from this summary.
Financial Health Signals
Blue Water Acquisition Corp. III Unit. 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.
For every $1 of reported earnings, Blue Water Acquisition Corp. III Unit. used $0.20 of operating cash (-$939K OCF vs $4.7M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Blue Water Acquisition Corp. III Unit. reported $2.1M in net income in Q2 2026. This represents an increase of 372.1% from the same quarter a year earlier. Against the prior quarter it is up 9.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Blue Water Acquisition Corp. III Unit. held $33K 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.
BLUWU 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.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, EBITDA, Interest Expense, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
BLUWU 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 |
|---|---|---|---|---|---|---|---|
| Total Assets | $263.5M+3.5% | $261.6M | $258.9M+1035543.9% | $257.2M | $254.6M | N/A | $25K |
| Current Assets | $121K-88.8% | $496K | $81K | $869K | $1.1M | N/A | N/A |
| Cash & Equivalents | $33K-96.9% | $420K | $0 | $759K | $1.0M | $0 | $0 |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $273.0M+4.0% | $270.9M | $267.8M+551684.5% | $265.4M | $262.4M | N/A | $49K |
| Current Liabilities | $749K+2444.5% | $440K | $190K+291.7% | $292K | $29K | N/A | $49K |
| Non-Current Liabilities | $8.9M0.0% | $9.4M | $8.9M | $8.9M | $8.9M | N/A | $0 |
| Total Equity | -$9.5M-21.5% | -$9.3M-9243.8% | -$8.9M-37837.0% | -$8.2M | -$7.8M | -$99K | -$24K |
| Retained Earnings | -$9.5M-21.5% | -$9.3M | -$8.9M-18299.8% | -$8.2M | -$7.8M | N/A | -$49K |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
BLUWU 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.
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
BLUWU 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 (-$8.9M), 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 (0.43), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where Blue Water Acquisition Corp. III Unit. Ranks
Frequently Asked Questions
Is Blue Water Acquisition Corp. III Unit. profitable?
Yes, Blue Water Acquisition Corp. III Unit. (BLUWU) reported a net income of $4.7M in fiscal year 2025.
What is Blue Water Acquisition Corp. III Unit.'s operating cash flow?
Blue Water Acquisition Corp. III Unit. (BLUWU) recorded an outflow of $939K in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Blue Water Acquisition Corp. III Unit.'s total assets?
Blue Water Acquisition Corp. III Unit. (BLUWU) had $258.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Blue Water Acquisition Corp. III Unit.'s current ratio?
Blue Water Acquisition Corp. III Unit. (BLUWU) had a current ratio of 0.43 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Blue Water Acquisition Corp. III Unit.'s return on assets (ROA)?
Blue Water Acquisition Corp. III Unit. (BLUWU) had a return on assets of 1.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Blue Water Acquisition Corp. III Unit.'s debt-to-equity ratio negative or not reported?
Blue Water Acquisition Corp. III Unit. (BLUWU) has negative shareholder equity of -$8.9M 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.
Are Blue Water Acquisition Corp. III Unit.'s earnings high quality?
For every $1 of reported earnings, Blue Water Acquisition Corp. III Unit. (BLUWU) used $0.20 of operating cash (-$939K OCF vs $4.7M 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.