Constellation Acquisitn Corp I Financials

CSTAF

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Constellation Acquisitn Corp I (CSTAF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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 CSTAF FY2025 2026-05-15

CSTAF's asset shrinkage is outpacing liability reduction, leaving almost no liquid cushion even as recurring cash burn narrows further.

From FY2023 to FY2025, total assets collapsed from $49.9M to $901K. Over the same span, operating cash burn improved from -$1.3M to -$470K, so the pressure comes more from asset depletion outrunning liability cleanup than from a runaway operating burn in the latest period.

FY2025's net loss of -$3.2M was far worse than the operating cash outflow of -$470K. When earnings deteriorate much faster than cash, the loss is being shaped by non-cash charges or balance-sheet remeasurement rather than by an equivalent deterioration in day-to-day cash spending during the year.

Near-term flexibility is extremely thin: current assets were only $42K against current liabilities of $9.9M in FY2025. That means even a smaller operating burn matters because the company has almost no working-capital buffer and remains dependent on liability management, not internal liquidity or cash on hand.

Financial Health Signals

Financial Profile 0/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Constellation Acquisitn Corp I's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Liquidity

Constellation Acquisitn Corp I's current ratio of 0.00 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Piotroski F-Score Weak

1/9

Constellation Acquisitn Corp I passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.15x

For every $1 of reported earnings, Constellation Acquisitn Corp I generates $0.15 in operating cash flow (-$470K OCF vs -$3.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$3.2M

YoY-1204.8%

Constellation Acquisitn Corp I reported -$3.2M in net income in fiscal year 2025. This represents a decrease of 1204.8% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$5K

YoY-6.4%

Constellation Acquisitn Corp I held $5K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

CSTAF Income Statement

Metric	FY25	FY24	FY23	FY22	FY21
Revenue	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$415K-73.6%	$1.6M-55.8%	$3.6M	N/A	N/A
Operating Income	-$1.1M+32.0%	-$1.6M+55.8%	-$3.6M-221.7%	-$1.1M+28.1%	-$1.5M
Interest Expense	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A
Net Income	-$3.2M-1204.8%	-$248K+31.1%	-$360K-102.8%	$12.9M-18.1%	$15.7M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	$2.0M	N/A	$248K-6.3%	$265K-36.1%	$415K	N/A	$245K+8.5%	$226K
Operating Income	-$2.0M	N/A	-$248K+6.3%	-$265K+36.1%	-$415K	N/A	-$245K-8.5%	-$226K
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$687K	N/A	-$1.3M-502.8%	-$221K+50.6%	-$447K	N/A	$38K-81.6%	$205K
EPS (Diluted)	$-0.09	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CSTAF Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21
Total Assets	$901K-96.8%	$28.2M-43.5%	$49.9M-84.1%	$314.6M+1.3%	$310.7M
Current Assets	$42K-32.2%	$62K+66.6%	$37K-48.1%	$71K-88.7%	$628K
Cash & Equivalents	$5K-6.4%	$5K+49.8%	$4K-90.6%	$38K-83.1%	$223K
Inventory	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$24.2M-49.7%	$48.0M-28.9%	$67.6M-79.3%	$327.1M-1.3%	$331.5M
Current Liabilities	$9.9M+12.6%	$8.8M+34.4%	$6.6M+432.0%	$1.2M+73.8%	$709K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A
Total Equity	-$23.3M-17.1%	-$19.9M-12.4%	-$17.7M-41.5%	-$12.5M+40.1%	-$20.8M
Retained Earnings	-$23.3M-17.1%	-$19.9M-12.4%	-$17.7M-41.5%	-$12.5M+40.1%	-$20.8M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$682K-24.4%	$901K+3.2%	$873K+2.0%	$856K+1.0%	$847K-97.0%	$28.2M+1.3%	$27.8M+2.1%	$27.3M
Current Assets	$40K-3.3%	$42K+18.2%	$35K-12.7%	$40K-24.7%	$54K-12.7%	$62K-54.5%	$135K+170.7%	$50K
Cash & Equivalents	$5K+3.2%	$5K-43.6%	$9K+79.6%	$5K-46.4%	$9K+72.4%	$5K-6.4%	$6K-20.6%	$7K
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	$24.6M+2.0%	$24.2M+5.6%	$22.9M+6.4%	$21.5M+1.2%	$21.3M-55.8%	$48.0M+1.7%	$47.2M+2.2%	$46.2M
Current Liabilities	$11.9M+19.8%	$9.9M+1.7%	$9.8M+2.7%	$9.5M+2.9%	$9.2M+4.8%	$8.8M+4.8%	$8.4M+6.3%	$7.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$24.0M-3.0%	-$23.3M-5.7%	-$22.0M-6.6%	-$20.6M-1.2%	-$20.4M-2.7%	-$19.9M-2.2%	-$19.4M-2.3%	-$19.0M
Retained Earnings	-$24.0M-3.0%	-$23.3M-5.7%	-$22.0M-6.6%	-$20.6M-1.2%	-$20.4M-2.7%	-$19.9M-2.2%	-$19.4M-2.3%	-$19.0M

CSTAF Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	-$470K+37.6%	-$753K+43.5%	-$1.3M-200.1%	-$444K+64.8%	-$1.3M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	$23.0M	N/A	N/A	-$310.0M
Financing Cash Flow	N/A	-$22.3M	N/A	$259K-99.9%	$311.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	$23.7M	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$140K-49.2%	-$94K-8.9%	-$86K+21.2%	-$109K+39.7%	-$181K-140.4%	-$75K+66.7%	-$226K-134.1%	-$97K
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	$223K+1586.9%	-$15K0.0%	-$15K0.0%	-$15K	N/A	-$165K0.0%	-$165K0.0%	-$165K
Financing Cash Flow	-$83K-179.2%	$105K-0.1%	$105K-12.5%	$120K	N/A	$240K-38.5%	$390K+47.2%	$265K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$238K	$0	$0	$0	N/A	$0	$0	$0

CSTAF Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A
Return on Assets	-359.4%-358.5pp	-0.9%-0.2pp	-0.7%-4.8pp	4.1%-1.0pp	5.1%
Current Ratio	0.000.0	0.010.0	0.01-0.1	0.06-0.8	0.89
Debt-to-Equity	-1.04+1.4	-2.42+1.4	-3.82+22.4	-26.20-10.3	-15.91
FCF Margin	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	-100.8%	N/A	-152.4%-126.6pp	-25.8%+26.9pp	-52.8%	N/A	0.1%-0.6pp	0.8%
Current Ratio	0.000.0	0.000.0	0.000.0	0.000.0	0.010.0	0.010.0	0.020.0	0.01
Debt-to-Equity	-1.03+0.0	-1.040.0	-1.040.0	-1.040.0	-1.04+1.4	-2.42+0.0	-2.430.0	-2.44
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$23.3M), 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 (0.00), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Frequently Asked Questions

Is Constellation Acquisitn Corp I profitable?

No, Constellation Acquisitn Corp I (CSTAF) reported a net income of -$3.2M in fiscal year 2025.

What is Constellation Acquisitn Corp I's operating cash flow?

Constellation Acquisitn Corp I (CSTAF) generated -$470K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Constellation Acquisitn Corp I's total assets?

Constellation Acquisitn Corp I (CSTAF) had $901K in total assets as of fiscal year 2025, including both current and long-term assets.

What is Constellation Acquisitn Corp I's current ratio?

Constellation Acquisitn Corp I (CSTAF) had a current ratio of 0.00 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Constellation Acquisitn Corp I's debt-to-equity ratio?

Constellation Acquisitn Corp I (CSTAF) had a debt-to-equity ratio of -1.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Constellation Acquisitn Corp I's return on assets (ROA)?

Constellation Acquisitn Corp I (CSTAF) had a return on assets of -359.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Constellation Acquisitn Corp I's cash runway?

Based on fiscal year 2025 data, Constellation Acquisitn Corp I (CSTAF) had $5K in cash against an annual operating cash burn of $470K. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Why is Constellation Acquisitn Corp I's debt-to-equity ratio negative or unusual?

Constellation Acquisitn Corp I (CSTAF) has negative shareholder equity of -$23.3M as of fiscal year 2025, which causes the debt-to-equity ratio to appear negative or not meaningful. 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 Constellation Acquisitn Corp I's Piotroski F-Score?

Constellation Acquisitn Corp I (CSTAF) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. 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 Constellation Acquisitn Corp I's earnings high quality?

Constellation Acquisitn Corp I (CSTAF) has an earnings quality ratio of 0.15x, 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.

How financially healthy is Constellation Acquisitn Corp I?

Constellation Acquisitn Corp I (CSTAF) scores 0 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.