HCM II Acquisition Corp Financials
This page shows HCM II Acquisition Corp (HOND) 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).
Transaction-driven financing reshaped the balance sheet while recurring operating losses continued consuming cash.
Between FY2024 and FY2025, total assets rose from$5.3M to$303.0M , alongside financing cash flow of$311.4M ; this points to a capital-raising or transaction-led expansion rather than internally funded operating growth. Yet FY2025 investing cash flow was-$200.6M while liabilities were only$7.6M , leaving the enlarged balance sheet predominantly equity-funded and distinct from the operating result.
The business did not convert its reported earnings into positive cash: FY2025 net income was
The financing structure changed sharply across the two reported years: FY2024 ended with negative equity of
Financial Health Signals
HCM II 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.
HCM II 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.
HCM II Acquisition Corp reported a net loss of $28.0M while operations used $16.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
HCM II Acquisition Corp's EBITDA was -$24.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 164.2% from the prior year.
HCM II Acquisition Corp reported -$28.0M in net income in fiscal year 2025. This represents a decrease of 143.9% from the prior year.
HCM II Acquisition Corp earned -$0.39 per diluted share (EPS) in fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
HCM II Acquisition Corp recorded an outflow of $17.5M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 98.9% from the prior year.
HCM II Acquisition Corp held $97.2M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
HCM II Acquisition Corp's ROE was -9.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
HCM II Acquisition Corp invested $9.8M in research and development in fiscal year 2025. This represents an increase of 88.7% from the prior year.
HCM II Acquisition Corp invested $1.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 73.6% from the prior year.
Not reported for fiscal year 2025.
HOND Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 |
|---|---|---|---|
| Revenue | N/A | N/A | $248K |
| R&D Expenses | N/A | $9.8M+88.7% | $5.2M |
| SG&A Expenses | N/A | $14.3M+242.2% | $4.2M |
| Operating Income | N/A | -$25.2M-143.4% | -$10.4M |
| Income Tax | N/A | $18K-14.4% | $21K |
| Net Income | N/A | -$28.0M-143.9% | -$11.5M |
| EPS (Diluted) | — | -$0.39 | -$0.19 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense.
TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
HOND Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 |
|---|---|---|
| Total Assets | $303.0M+5582.7% | $5.3M |
| Current Assets | $299.6M+8999.9% | $3.3M |
| Cash & Equivalents | $97.2M+3115.4% | $3.0M |
| Total Liabilities | $7.6M-51.6% | $15.6M |
| Current Liabilities | $5.9M+435.9% | $1.1M |
| Total Equity | $295.4M+2966.4% | -$10.3M |
| Retained Earnings | -$124.6M-29.0% | -$96.6M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
HOND Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 |
|---|---|---|---|
| Operating Cash Flow | -$22.8M | -$16.5M-100.8% | -$8.2M |
| Capital Expenditures | N/A | $1.1M+73.6% | $608K |
| Free Cash Flow | N/A | -$17.5M-98.9% | -$8.8M |
| Investing Cash Flow | N/A | -$200.6M-30195.5% | -$662K |
| Financing Cash Flow | N/A | $311.4M+4192.6% | $7.3M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
HOND Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 |
|---|---|---|
| Operating Margin | N/A | -4168.8% |
| Net Margin | N/A | -4624.6% |
| Return on Equity | -9.5% | N/A |
| Return on Assets | -9.3%+206.2pp | -215.4% |
| Current Ratio | 50.63+47.6x | 2.98 |
| Debt-to-Equity | 0.03 | N/A |
| FCF Margin | N/A | -3547.6% |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where HCM II Acquisition Corp Ranks
Frequently Asked Questions
Is HCM II Acquisition Corp profitable?
No, HCM II Acquisition Corp (HOND) reported a net income of -$28.0M in fiscal year 2025.
What is HCM II Acquisition Corp's EBITDA?
HCM II Acquisition Corp (HOND) had EBITDA of -$24.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is HCM II Acquisition Corp's return on equity (ROE)?
HCM II Acquisition Corp (HOND) has a return on equity of -9.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is HCM II Acquisition Corp's free cash flow?
HCM II Acquisition Corp (HOND) recorded an outflow of $17.5M in free cash flow during fiscal year 2025. This represents a -98.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is HCM II Acquisition Corp's operating cash flow?
HCM II Acquisition Corp (HOND) recorded an outflow of $16.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are HCM II Acquisition Corp's total assets?
HCM II Acquisition Corp (HOND) had $303.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are HCM II Acquisition Corp's capital expenditures?
HCM II Acquisition Corp (HOND) invested $1.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does HCM II Acquisition Corp spend on research and development?
HCM II Acquisition Corp (HOND) invested $9.8M in research and development during fiscal year 2025.
What is HCM II Acquisition Corp's current ratio?
HCM II Acquisition Corp (HOND) had a current ratio of 50.63 as of fiscal year 2025, which is generally considered healthy.
What is HCM II Acquisition Corp's debt-to-equity ratio?
HCM II Acquisition Corp (HOND) had a debt-to-equity ratio of 0.03 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is HCM II Acquisition Corp's return on assets (ROA)?
HCM II Acquisition Corp (HOND) had a return on assets of -9.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is HCM II Acquisition Corp's Piotroski F-Score?
HCM II Acquisition Corp (HOND) 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 HCM II Acquisition Corp's earnings high quality?
HCM II Acquisition Corp (HOND) reported a net loss of $28.0M while operations used $16.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.