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Inflection Point Acquisition Corp. III Financials

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

This page shows Inflection Point Acquisition Corp. III (IPCX) 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).

Rhea AI IPCX FY2025

Inflection Point’s FY2025 reads as a balance-sheet transition, where financing and investment flows mattered more than operating earnings.

FY2025’s positive net income of $498K did not mean the company became self-funding: it still reported an operating loss of -$6.5M and operating cash outflow of -$1.4M. The more important change versus FY2024 was liquidity repair rather than profit repair, as current assets reached $1.3M against only $458K of current liabilities, while total equity stayed negative at -$13.7M.

FY2024 looked short-term constrained, with current assets of just $6K against $372K of current liabilities; FY2025 reversed that immediate pressure. But the business still shows a liabilities-over-assets posture, so improved near-term liquidity did not fix the deeper capital base.

The cash-flow shape makes the operating model clearer: external financing brought in $255.3M, almost mirrored by investing outflow of -$252.8M, and cash ended at only $1.1M. That pattern means capital largely moved through the entity instead of being generated and retained by ongoing operations.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 10 / 100
Financial Profile 10/100

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 Inflection Point Acquisition Corp. III'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.

Profitability
8

Inflection Point Acquisition Corp. III has an operating margin of -6.5%, meaning the company retains $-7 of operating profit per $100 of revenue. This below-average margin results in a low score of 8/100, suggesting thin profitability after operating expenses.

Liquidity
54

Inflection Point Acquisition Corp. III's current ratio of 2.84 indicates adequate short-term liquidity, earning a score of 54/100. The company can meet its near-term obligations, though with limited headroom.

Piotroski F-Score Weak
3/9

Inflection Point Acquisition Corp. III passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.

Earnings Quality Low Quality
-2.89x

For every $1 of reported earnings, Inflection Point Acquisition Corp. III generates $-2.89 in operating cash flow (-$1.4M OCF vs $498K 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
$100.0M

Inflection Point Acquisition Corp. III generated $100.0M in revenue in fiscal year 2025.

EBITDA
N/A
Net Income
$498K
YoY+680.9%

Inflection Point Acquisition Corp. III reported $498K in net income in fiscal year 2025. This represents an increase of 680.9% from the prior year.

EPS (Diluted)
N/A

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$1.1M

Inflection Point Acquisition Corp. III held $1.1M 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
-6.5%

Inflection Point Acquisition Corp. III's operating margin was -6.5% in fiscal year 2025, reflecting core business profitability.

Net Margin
0.5%

Inflection Point Acquisition Corp. III's net profit margin was 0.5% in fiscal year 2025, showing the share of revenue converted to profit.

Return on Equity
N/A

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
N/A

IPCX Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q1'24
Revenue $100.0M 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 $627K N/A $2.8M+493.4% $467K+481.7% $80K N/A $17K+179.6% $6K
Operating Income -$627K N/A -$2.8M-493.4% -$467K-481.7% -$80K N/A -$17K-179.6% -$6K
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 $1.7M N/A -$91K+92.5% -$1.2M-1415.4% -$80K N/A -$17K-179.6% -$6K
EPS (Diluted) $0.07 N/A N/A N/A N/A N/A N/A N/A

IPCX Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q1'24
Total Assets $263.2M+0.8% $261.1M+0.8% $259.1M+0.9% $256.7M+47860.1% $535K+64.2% $326K N/A N/A
Current Assets $1.1M-17.4% $1.3M-12.6% $1.5M-43.5% $2.6M+30406.8% $9K+56.1% $6K N/A N/A
Cash & Equivalents $835K-25.9% $1.1M-11.4% $1.3M-15.8% $1.5M N/A N/A N/A N/A
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 $277.2M+0.9% $274.8M+1.0% $272.1M+1.9% $267.0M+39371.2% $676K+74.9% $387K N/A N/A
Current Liabilities $312K-32.0% $458K+7.8% $425K+68.6% $252K-60.9% $644K+72.9% $372K N/A N/A
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity -$14.0M-2.8% -$13.7M-4.8% -$13.0M-27.0% -$10.3M-7173.0% -$141K-132.1% -$61K-2723.9% $2K-87.8% $19K
Retained Earnings -$14.0M-2.8% -$13.7M-4.8% -$13.0M-27.0% -$10.3M-6079.1% -$166K-93.6% -$86K N/A N/A

IPCX Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q1'24
Operating Cash Flow -$225K+45.8% -$415K-38.6% -$299K N/A N/A N/A N/A N/A
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 N/A $250K $0 N/A N/A N/A N/A N/A
Financing Cash Flow -$67K-428.2% $20K-66.3% $60K N/A N/A N/A N/A N/A
Dividends Paid $300.0M $0 N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

IPCX Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q1'24
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin -0.6% N/A N/A N/A N/A N/A N/A N/A
Net Margin 1.7% 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 -721.1%-689.7pp -31.4%
Return on Assets 0.6% N/A -0.0%+0.4pp -0.5%+14.5pp -15.0% N/A N/A N/A
Current Ratio 3.45+0.6 2.84-0.7 3.50-7.0 10.46+10.4 0.010.0 0.01 N/A N/A
Debt-to-Equity -19.74+0.4 -20.11+0.8 -20.87+5.1 -26.01-21.2 -4.79+1.6 -6.36 N/A N/A
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

Note: Shareholder equity is negative (-$13.7M), 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.

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Frequently Asked Questions

Inflection Point Acquisition Corp. III (IPCX) reported $100.0M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Yes, Inflection Point Acquisition Corp. III (IPCX) reported a net income of $498K in fiscal year 2025, with a net profit margin of 0.5%.

Inflection Point Acquisition Corp. III (IPCX) had an operating margin of -6.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Inflection Point Acquisition Corp. III (IPCX) had a net profit margin of 0.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Inflection Point Acquisition Corp. III (IPCX) generated -$1.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Inflection Point Acquisition Corp. III (IPCX) had $261.1M in total assets as of fiscal year 2025, including both current and long-term assets.

Inflection Point Acquisition Corp. III (IPCX) had a current ratio of 2.84 as of fiscal year 2025, which is generally considered healthy.

Inflection Point Acquisition Corp. III (IPCX) had a debt-to-equity ratio of -20.11 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Inflection Point Acquisition Corp. III (IPCX) had a return on assets of 0.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Inflection Point Acquisition Corp. III (IPCX) had $1.1M in cash against an annual operating cash burn of $1.4M. This gives an estimated cash runway of approximately 9 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.

Inflection Point Acquisition Corp. III (IPCX) has negative shareholder equity of -$13.7M 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.

Inflection Point Acquisition Corp. III (IPCX) has a Piotroski F-Score of 3 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.

Inflection Point Acquisition Corp. III (IPCX) has an earnings quality ratio of -2.89x, 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.

Inflection Point Acquisition Corp. III (IPCX) scores 10 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.

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