Flag Ship Acquisition Right (FSHPR) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FSHPR SEC filings page.
Flag Ship Acquisition Corp. Right (FSHPR) reported $2.5M in revenue for fiscal year 2025, up 38.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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).
Reported profits are rising, but the business remains financed around a shrinking asset base, negative equity, and persistent operating cash outflows.
FY2025’s 73.5% net margin coexisted with operating cash flow of-$479K , showing accounting earnings and cash generation moved in opposite directions. That disconnect narrowed from FY2024’s-99.6% operating-cash-flow-to-net-income ratio to-26.2% , but cash conversion remained negative.
The balance sheet is structurally thin: liabilities exceeded assets in FY2025, at
Revenue grew
Financial Health Signals
We do not publish a peer-relative financial health score for Flag Ship Acquisition Corp. Right, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Flag Ship Acquisition Corp. Right passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, the one computable operating efficiency signal (asset turnover improving) passes.
For every $1 of reported earnings, Flag Ship Acquisition Corp. Right used $0.26 of operating cash (-$479K OCF vs $1.8M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Flag Ship Acquisition Corp. Right reported $185K in net income in Q2 2026. This represents a decrease of 68.6% from the same quarter a year earlier. Against the prior quarter it is up 15.7%.
Flag Ship Acquisition Corp. Right earned -$0.09 per diluted share (EPS) in Q2 2026. Against the prior quarter it is down 400.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Flag Ship Acquisition Corp. Right held $1K in cash as of Q2 2026; no long-term debt figure is on record 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.
FSHPR 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-K/A | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K/A | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| SG&A Expenses | $110K-27.9% | $131K-19.4% | $108K-67.6% | $237K-41.3% | $153K+95.6% | $162K+113.8% | $333K | $403K+779.7% |
| Net Income | $185K-68.6% | $160K-72.3% | $208K-56.4% | $454K-7.1% | $590K+2859.4% | $578Kn/m | $477K | $488Kn/m |
| EPS (Basic) | -$0.09 | $0.03 | N/A | N/A | -$0.02 | $0.07 | N/A | N/A |
| EPS (Diluted) | -$0.09 | $0.03 | N/A | N/A | -$0.02 | $0.07 | N/A | N/A |
| Diluted Shares (Avg) | 2M | 2M | N/A | N/A | 2M | 2M | N/A | N/A |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, Interest Expense, Income Tax.
FSHPR 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-K/A | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K/A | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $34.1M-52.9% | $33.4M-53.3% | $33.1M-53.4% | $32.6M-53.4% | $72.4M+4.4% | $71.7M | $71.0M+47042.2% | $70.1M |
| Current Assets | $58K-31.7% | $16K-89.9% | $25K-85.5% | $55K-54.7% | $85K-64.4% | $157K | $172K+43.1% | $121K |
| Cash & Equivalents | $1K-93.4% | $2K-94.9% | $7K-91.5% | $19K+8621.4% | $20K-81.3% | $36K-12.3% | $77K-34.0% | $215-99.8% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Total Liabilities | $37.9M-49.5% | $36.8M-50.4% | $36.3M-50.5% | $35.5M-50.7% | $74.9M+5.8% | $74.1M | $73.2M+16792.1% | $72.0M |
| Current Liabilities | $18.8M+1902.1% | $1.6M+91.6% | $1.5M+105.5% | $1.2M+267.6% | $939K+2140.7% | $859K | $712K+64.3% | $328K |
| Non-Current Liabilities | $19.1M-74.2% | $35.2M-52.0% | $34.8M-52.0% | $34.3M-52.2% | $74.0M+4.5% | $73.3M | $72.5Mn/m | $71.7M |
| Total Equity | -$3.8Mn/m | -$3.4Mn/m | -$3.2Mn/m | -$2.9Mn/m | -$2.6Mn/m | -$2.4Mn/m | -$2.3Mn/m | -$1.9Mn/m |
| Retained Earnings | -$3.8Mn/m | -$3.4Mn/m | -$3.2Mn/m | -$2.9Mn/m | -$2.6Mn/m | -$2.4M | -$2.3Mn/m | -$1.9M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
FSHPR 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-K/A | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K/A | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$226Kn/m | -$35Kn/m | -$79Kn/m | -$91Kn/m | -$126Kn/m | -$184Kn/m | -$274Kn/m | -$413Kn/m |
| Investing Cash Flow | -$292K | -$60K | -$180Kn/m | N/A | N/A | N/A | $0 | $0 |
| Financing Cash Flow | $517K+370.0% | $90K-36.8% | $246K-29.7% | -$40.3M-13201.9% | $110K-99.8% | $143Kn/m | $350K+8140.1% | $308Kn/m |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
FSHPR 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, Liabilities-to-Equity, Asset Turnover, FCF Margin.
Note: Shareholder equity is negative (-$3.2M), 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.
Note: The current ratio is below 1.0 (0.02), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where Flag Ship Acquisition Corp. Right Ranks
Frequently Asked Questions
Flag Ship Acquisition Corp. Right (FSHPR) reported $2.5M in total revenue for fiscal year 2025. This represents a 38.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Flag Ship Acquisition Corp. Right (FSHPR) revenue grew by 38.3% year-over-year, from $1.8M to $2.5M in fiscal year 2025.
Yes, Flag Ship Acquisition Corp. Right (FSHPR) reported a net income of $1.8M in fiscal year 2025, with a net profit margin of 73.5%.
Flag Ship Acquisition Corp. Right (FSHPR) had a net profit margin of 73.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Flag Ship Acquisition Corp. Right (FSHPR) recorded an outflow of $479K in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Flag Ship Acquisition Corp. Right (FSHPR) had $33.1M in total assets as of fiscal year 2025, including both current and long-term assets.
Flag Ship Acquisition Corp. Right (FSHPR) had a current ratio of 0.02 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
Flag Ship Acquisition Corp. Right (FSHPR) had a return on assets of 5.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
At the end of fiscal year 2025, Flag Ship Acquisition Corp. Right (FSHPR) held $7K in cash, cash equivalents and investments, and reported an operating cash outflow of $479K over that year. Dividing the one by the other, the reported balance equals about 0 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Flag Ship Acquisition Corp. Right (FSHPR) has negative shareholder equity of -$3.2M 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.
Flag Ship Acquisition Corp. Right (FSHPR) has a Piotroski F-Score of 4 out of 7 computable signals; 2 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.
For every $1 of reported earnings, Flag Ship Acquisition Corp. Right (FSHPR) used $0.26 of operating cash (-$479K OCF vs $1.8M 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.