Iron Horse Acquisitions (IROH) Financials
Newest figures come from the 10-Q for Q1 FY2026, filed May 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the IROH SEC filings page.
This page shows Iron Horse Acquisitions Corp. (IROH) financial statements, including the 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).
The reported figures describe a transaction-financing vehicle, not a conventional operating business with recurring revenue and profit.
From FY2023 to FY2024, total assets fell27.2% while total liabilities fell42.7% ; that paired contraction points to changing financing around a transaction rather than operating expansion. The shift from a net loss of$308.8K to net income of$1.4M occurred without reported revenue, so the earnings change cannot be read as sales-driven improvement.
Assets reached
The reported earnings reversal does not establish a recurring operating earnings stream because revenue is unreported: FY2023 showed a net loss of
Financial Health Signals
Iron Horse Acquisitions 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.
Iron Horse Acquisitions 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.
Key Financial Metrics
Earnings & Revenue
Iron Horse Acquisitions Corp. generated $5.8M in revenue in Q1 2026. This represents an increase of 20.8% from the same quarter a year earlier.
Iron Horse Acquisitions Corp.'s EBITDA was $842K in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1.8% from the same quarter a year earlier.
Iron Horse Acquisitions Corp. reported a net loss of $309K in Q1 2026. This represents a decrease of 139.9% from the same quarter a year earlier.
Iron Horse Acquisitions Corp. earned -$0.01 per diluted share (EPS) in Q1 2026.
Cash & Balance Sheet
Iron Horse Acquisitions Corp. recorded an outflow of $3.6M in free cash flow in Q1 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
Iron Horse Acquisitions Corp. held $29.7M in cash as of Q1 2026; no long-term debt figure is on record for that period.
Not reported for Q1 2026.
Margins & Returns
Iron Horse Acquisitions Corp.'s gross margin was 74.9% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is up 26.0 percentage points from the same quarter a year earlier.
Iron Horse Acquisitions Corp.'s operating margin was 12.5% in Q1 2026, reflecting core business profitability. This is down 4.1 percentage points from the same quarter a year earlier.
Iron Horse Acquisitions Corp.'s net profit margin was -5.3% in Q1 2026, showing the share of revenue converted to profit. This is down 21.3 percentage points from the same quarter a year earlier.
Iron Horse Acquisitions Corp.'s quarterly ROE was -1.6% in Q1 2026: one quarter's net income over shareholder equity, not annualized. This is down 8.2 percentage points from the same quarter a year earlier.
Capital Allocation
Iron Horse Acquisitions Corp. invested $38K in research and development in Q1 2026. This represents an increase of 39.6% from the same quarter a year earlier.
Iron Horse Acquisitions Corp. invested $2K in capex in Q1 2026, funding long-term assets and infrastructure. This represents a decrease of 97.9% from the same quarter a year earlier.
Not reported for Q1 2026.
IROH 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 | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.8M+20.8% | N/A | $7.9M+84.2% | N/A | $4.8M | N/A | $4.3M | N/A |
| Cost of Revenue | $1.5M-40.6% | N/A | $2.3M+73.9% | N/A | $2.5M | N/A | $1.3M | N/A |
| Gross Profit | $4.4M+85.2% | N/A | $5.6M+88.8% | N/A | $2.4M | N/A | $2.9M | N/A |
| R&D Expenses | $38K+39.6% | N/A | $38K | N/A | $27K | N/A | N/A | N/A |
| SG&A Expenses | $3.1M+637.5% | N/A | $438K-13.9% | N/A | $416K | N/A | $509K | N/A |
| Operating Income | $731K-9.3% | N/A | $4.6M+99.5% | -$672Kn/m | $805Kn/m | N/A | $2.3Mn/m | -$238Kn/m |
| EBITDA | $842K-1.8% | N/A | N/A | N/A | $857K | N/A | N/A | N/A |
| Interest Expense | $206K | N/A | -$10Kn/m | N/A | N/A | N/A | -$9K | N/A |
| Income Tax | $851K+579.8% | N/A | $1.4M+85.3% | $146K-17.9% | $125K-40.7% | N/A | $744K | $178K |
| Net Income | -$309K-139.9% | N/A | $3.3M+113.5% | $2.9M+718.9% | $774K+206215.5% | N/A | $1.6Mn/m | $357Kn/m |
| EPS (Basic) | -$0.01 | N/A | $0.07 | N/A | $0.02 | N/A | $0.04 | N/A |
| EPS (Diluted) | -$0.01 | N/A | $0.07 | N/A | $0.02 | N/A | $0.04 | N/A |
| Diluted Shares (Avg) | 52M | N/A | 48M | N/A | 48M | N/A | 48M | N/A |
IROH 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 | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $39.1M-46.9% | $44.7M-11.9% | $56.2M-21.6% | $73.3M+3.3% | $73.6M+4.6% | $50.8M-27.2% | $71.8M | $71.0M |
| Current Assets | $31.4M+39258.1% | $36.9M-16.2% | $46.2M+64669.6% | $155K-35.3% | $80K-85.4% | $44.0M+6278.1% | $71K | $239K |
| Cash & Equivalents | $29.7M+33739519.3% | $33.0M-20.3% | $37.2M+1206361.5% | $25K-72.5% | $88-100.0% | $41.4M+6206.6% | $3K | $91K |
| Inventory | $851K | $956K-23.5% | $1.9M | N/A | N/A | $1.3M | N/A | N/A |
| Accounts Receivable | N/A | $287-66.0% | $0 | N/A | N/A | $845 | N/A | N/A |
| Total Liabilities | $19.2M-69.0% | $24.9M-37.8% | $38.5M-38.6% | $75.0M+17.6% | $62.0M-2.3% | $39.9M-42.7% | $62.6M | $63.7M |
| Current Liabilities | $19.0M+466.5% | $24.6M-38.4% | $38.2M+2413.5% | $72.4M+5891.9% | $3.4M+206.2% | $39.9M+4535.6% | $1.5M | $1.2M |
| Non-Current Liabilities | $186K-99.7% | $243Kn/m | $298K-99.5% | $2.5M-96.0% | $58.7M-6.0% | $0-100.0% | $61.1M | $62.5M |
| Total Equity | $19.9M+71.0% | $19.9M+83.8% | $17.7M+94.6% | $14.7M+103.1% | $11.6M+67.8% | $10.8M+1081058700.0% | $9.1Mn/m | $7.3Mn/m |
| Retained Earnings | $12.1Mn/m | $12.4M+210.5% | $11.0Mn/m | -$6.1Mn/m | -$4.9Mn/m | $4.0Mn/m | -$3.2M | -$3.0M |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments, Goodwill, Long-Term Debt.
IROH 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 | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.6Mn/m | N/A | -$3.7M-116.4% | -$1.9Mn/m | -$165Kn/m | -$22.9M | $22.3M | -$53K |
| Depreciation & Amortization | $111K+114.2% | N/A | N/A | N/A | $52K | N/A | N/A | N/A |
| Capital Expenditures | $2K-97.9% | N/A | N/A | N/A | $73K | N/A | N/A | N/A |
| Free Cash Flow | -$3.6Mn/m | N/A | N/A | N/A | -$239K | N/A | N/A | N/A |
| Investing Cash Flow | -$2Kn/m | N/A | -$1.7Mn/m | $1.2M+116815400.0% | -$75K-2355.3% | $2.6M | -$2.8M | $1 |
| Financing Cash Flow | $116K-75.4% | N/A | $35Kn/m | $510Kn/m | $471Kn/m | $725K | $0 | -$35K |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.
IROH 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.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-Q | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.9%+26.0pp | N/A | 70.4%+1.7pp | N/A | 48.9% | N/A | 68.7% | N/A |
| Operating Margin | 12.5%-4.1pp | N/A | 58.0%+4.5pp | N/A | 16.7% | N/A | 53.5% | N/A |
| Net Margin | -5.3%-21.3pp | N/A | 42.3%+5.8pp | N/A | 16.0% | N/A | 36.5% | N/A |
| Return on Equity | -1.6%-8.2pp | N/A | 18.9%+1.7pp | 19.8%+14.9pp | 6.7%+6.6pp | N/A | 17.2% | 4.9% |
| Return on Assets | -0.8%-1.8pp | N/A | 5.9%+3.8pp | 4.0%+3.5pp | 1.1%+1.1pp | N/A | 2.2% | 0.5% |
| Current Ratio | 1.65+1.6x | 1.50+0.4x | 1.21+1.2x | 0.00-0.2x | 0.02-0.5x | 1.10+0.3x | 0.05 | 0.20 |
| Liabilities-to-Equity | 0.97-4.4x | 1.25-2.4x | 2.17-4.7x | 5.09-3.7x | 5.33-3.8x | 3.69-999996.3x | 6.87 | 8.78 |
| Asset Turnover | 0.15+0.1x | N/A | 0.14+0.1x | N/A | 0.07 | N/A | 0.06 | N/A |
| FCF Margin | -61.8%-56.8pp | N/A | N/A | N/A | -5.0% | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Debt-to-Equity.
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 |
|---|---|---|---|---|---|---|
| Iron Horse Acquisitions Corp. IROH | FY2024 | N/A | $1.4M | N/A | N/A | — |
| QUETTA ACQUISITION CORP QETA | FY2025 | $5.0M | $323K | 6.5% | $43.4M | — |
| Melar Acquisition Corp. I Warrant MACIW | FY2025 | N/A | $5.5M | N/A | N/A | — |
Where Iron Horse Acquisitions Corp. Ranks
Frequently Asked Questions
Is Iron Horse Acquisitions Corp. profitable?
Yes, Iron Horse Acquisitions Corp. (IROH) reported a net income of $1.4M in fiscal year 2024.
What is Iron Horse Acquisitions Corp.'s return on equity (ROE)?
Iron Horse Acquisitions Corp. (IROH) has a return on equity of 12.7% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Iron Horse Acquisitions Corp.'s operating cash flow?
Iron Horse Acquisitions Corp. (IROH) recorded an outflow of $1.0M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are Iron Horse Acquisitions Corp.'s total assets?
Iron Horse Acquisitions Corp. (IROH) had $50.8M in total assets as of fiscal year 2024, including both current and long-term assets.
What is Iron Horse Acquisitions Corp.'s current ratio?
Iron Horse Acquisitions Corp. (IROH) had a current ratio of 1.10 as of fiscal year 2024, which is considered adequate.
What is Iron Horse Acquisitions Corp.'s liabilities-to-equity ratio?
Iron Horse Acquisitions Corp. (IROH) had a liabilities-to-equity ratio of 3.69 as of fiscal year 2024, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2024, because the filing data we hold for that year carries no long-term debt figure.
What is Iron Horse Acquisitions Corp.'s return on assets (ROA)?
Iron Horse Acquisitions Corp. (IROH) had a return on assets of 2.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Iron Horse Acquisitions Corp.'s Piotroski F-Score?
Iron Horse Acquisitions Corp. (IROH) 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.