HCM II Acquisition Corp. (HOND) Financials
Newest figures come from the 10-Q for Q1 FY2026, filed May 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the HOND SEC filings page.
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).
HCM II is primarily a capital-raising and asset-deployment vehicle, not a business whose operating scale can be judged from revenue.
2025’s balance-sheet expansion was financing-led: total assets reached$303.0M while financing provided$311.4M and investing used$200.6M . That combination points to capital being raised and redeployed, rather than operating earnings funding growth.
Reported profitability weakened without an operating-revenue base: net loss increased from
The funding structure changed dramatically: FY2024 ended with liabilities 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 -$11.9M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 152.7% from the same quarter a year earlier.
HCM II Acquisition Corp. reported -$10.5M in net income in Q1 2026. This represents a decrease of 68.0% from the same quarter a year earlier.
Not reported for Q1 2026.
Cash & Balance Sheet
HCM II Acquisition Corp. recorded an outflow of $9.1M in free cash flow in Q1 2026, representing a cash shortfall after capex. This represents a decrease of 212.9% from the same quarter a year earlier.
HCM II Acquisition Corp. held $76.9M in cash as of Q1 2026; long-term debt is not reported for that period.
Not reported for Q1 2026.
Margins & Returns
HCM II Acquisition Corp.'s ROE was -3.6% in Q1 2026, measuring profit generated per dollar of shareholder equity.
Not reported for Q1 2026.
Not reported for Q1 2026.
Not reported for Q1 2026.
Capital Allocation
HCM II Acquisition Corp. invested $4.6M in research and development in Q1 2026. This represents an increase of 224.3% from the same quarter a year earlier.
HCM II Acquisition Corp. invested $53K in capex in Q1 2026, funding long-term assets and infrastructure. This represents a decrease of 67.5% from the same quarter a year earlier.
Not reported for Q1 2026.
HOND 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 | Q1'2610-Q | Q4'2510-Q | Q3'25 | Q2'25 | Q1'2510-Q | Q4'2410-K | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $4.6M+224.3% | N/A | N/A | N/A | $1.4M | N/A | N/A | N/A |
| SG&A Expenses | $7.3M+122.1% | N/A | $1.6M+488.2% | $1.5M+2728.0% | $3.3M | N/A | $278K | $53K |
| Operating Income | -$11.9M-144.6% | N/A | -$1.6M-488.2% | -$1.5M-2728.0% | -$4.9M | N/A | -$278K | -$53K |
| EBITDA | -$11.9M-152.7% | N/A | N/A | N/A | -$4.7M | N/A | N/A | N/A |
| Income Tax | $37K | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
| Net Income | -$10.5M-68.0% | N/A | $1.9M+80.0% | $601K+1241.3% | -$6.3M | N/A | $1.1M | -$53K |
| EPS (Basic) | -$0.100.0% | N/A | N/A | N/A | -$0.10 | N/A | N/A | -$0.02 |
| EPS (Diluted) | -$0.10 | N/A | N/A | N/A | -$0.10 | N/A | N/A | -$0.02 |
| Diluted Shares (Avg) | 106M | N/A | N/A | N/A | 63M | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense.
HOND 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 | Q1'2610-Q | Q4'2510-Q | Q3'25 | Q2'25 | Q1'2510-Q | Q4'2410-K | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $295.2M+23.8% | $303.0M+5582.7% | $243.1M+4.1% | $240.4M+63614.9% | $238.4M | $5.3M | $233.6M | $377K |
| Current Assets | $276.7M+40421.4% | $299.6M+8999.9% | $462K-54.6% | $290K+5695.6% | $683K | $3.3M | $1.0M | $5K |
| Cash & Equivalents | $76.9M+14778.6% | $97.2M+3115.4% | $350K-57.5% | $124K | $517K | $3.0M | $825K | N/A |
| Total Liabilities | $6.6M-97.4% | $7.6M-51.6% | $257.6M+5.8% | $254.4M+62708.8% | $250.4M | $15.6M | $243.6M | $405K |
| Current Liabilities | $5.0M+260.1% | $5.9M+435.9% | $4.3M+1041.2% | $2.5M+511.2% | $1.4M | $1.1M | $375K | $405K |
| Non-Current Liabilities | $1.5M-99.4% | $1.7M-88.6% | $253.4M+4.2% | $251.9M | $249.0M | $14.5M | $243.2M | $0 |
| Total Equity | $288.6M+2489.3% | $295.4M+2966.4% | -$14.5M-45.3% | -$14.0M-50347.8% | -$12.1M | -$10.3M | -$10.0M | -$28K |
| Retained Earnings | -$135.1M-1018.7% | -$124.6M-29.0% | -$14.5M-45.3% | -$14.0M-26400.5% | -$12.1M | -$96.6M | -$10.0M | -$53K |
Not reported in any period shown, so not listed: Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, 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. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'25 | Q2'25 | Q1'2510-Q | Q4'2410-K | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$9.1M-229.5% | -$15.4M-52872.8% | -$512K | $2.2M | -$2.8M | -$29K | N/A | N/A |
| Depreciation & Amortization | $61K-66.3% | N/A | N/A | N/A | $181K | N/A | N/A | N/A |
| Stock-Based Compensation | $2.8M+1433.9% | N/A | N/A | N/A | $180K | N/A | N/A | N/A |
| Capital Expenditures | $53K-67.5% | N/A | N/A | N/A | $163K | N/A | N/A | N/A |
| Free Cash Flow | -$9.1M-212.9% | N/A | N/A | N/A | -$2.9M | N/A | N/A | N/A |
| Investing Cash Flow | -$11.5M-6153.3% | N/A | N/A | N/A | -$184K | $0 | N/A | N/A |
| Financing Cash Flow | $149K-98.6% | $310.7M+242912.3% | N/A | N/A | $10.9M | -$128K | N/A | N/A |
| Dividends Paid | N/A | N/A | $0 | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Share Buybacks.
HOND 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, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| HCM II Acquisition Corp. HOND | FY2025 | N/A | -$28.0M | N/A | $518.7M | — |
| Bold Eagle Acquisition Corp. BEAG | FY2025 | N/A | $9.8M | N/A | $334.8M | — |
| Voyager Acquisition Corp VACH | FY2025 | N/A | $9.0M | N/A | $541.3M | — |
| Andretti Acquisition Corp. II POLE | FY2025 | N/A | $8.4M | N/A | $147.1M | — |
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.