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K&F Growth Acquisition Corp II-A Financials

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

This page shows K&F Growth Acquisition Corp II-A (KFII) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI KFII FY2025

Reported profit is detached from the operating engine, while a liability-funded balance sheet carries most of the company’s economic weight.

The key disconnect is that net income was $10.2M even as the company posted an operating loss and used -$849K of operating cash, so the year’s profit did not come from a revenue-producing operating model. That matters because with $300.6M of assets and only $577K of cash, most of the balance sheet sits outside day-to-day operations rather than acting as operating liquidity.

The current ratio of 8.7x looks comfortable, but it is driven mainly by just $83K of current liabilities rather than a large cash buffer. In practice, this is a company with very little immediate operating cash, not one funding an active working-capital cycle.

Total liabilities exceeded assets, leaving equity at -$9.4M; that means claims from obligations absorb more than the recorded asset base. When equity is negative, ratios tied to equity can look extreme, so the more useful reading is balance-sheet posture: liabilities of $310.0M are effectively financing the whole structure.

Generated by Rhea from SEC filings [ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 17 / 100
Financial Profile 17/100

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 K&F Growth Acquisition Corp II-A'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.

Liquidity
100

With a current ratio of 8.73, K&F Growth Acquisition Corp II-A holds $8.73 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Earnings Quality Low Quality
-0.08x

For every $1 of reported earnings, K&F Growth Acquisition Corp II-A generates $-0.08 in operating cash flow (-$849K OCF vs $10.2M 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
N/A
EBITDA
N/A
Net Income
$10.2M

K&F Growth Acquisition Corp II-A reported $10.2M in net income in fiscal year 2025.

EPS (Diluted)
N/A

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$577K

K&F Growth Acquisition Corp II-A held $577K 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
N/A
Net Margin
N/A
Return on Equity
N/A

Capital Allocation

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

KFII Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Revenue 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
Gross Profit 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
SG&A Expenses $236K N/A $178K+0.4% $177K-7.0% $191K N/A $45K
Operating Income -$236K N/A -$178K-0.4% -$177K+7.0% -$191K N/A -$45K
Interest Expense N/A N/A N/A N/A N/A N/A N/A
Income Tax $0 N/A N/A N/A $0 N/A N/A
Net Income $2.4M N/A $3.0M+3.3% $2.9M+82.0% $1.6M N/A -$45K
EPS (Diluted) N/A N/A N/A N/A N/A N/A N/A

KFII Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Total Assets $302.9M+0.8% $300.6M+0.9% $297.9M+1.0% $294.9M+1.0% $292.0M+142614.5% $205K N/A
Current Assets $413K-43.2% $727K-20.8% $919K-16.7% $1.1M-15.1% $1.3M+27616.7% $5K N/A
Cash & Equivalents $224K-61.2% $577K-18.8% $711K-14.9% $836K-19.2% $1.0M N/A N/A
Inventory 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
Goodwill N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $312.6M+0.8% $310.0M+0.9% $307.2M+1.0% $304.0M+1.0% $300.9M+123808.2% $243K N/A
Current Liabilities $2K-97.4% $83K+6.4% $78K-7.4% $84K-17.7% $103K-57.7% $243K N/A
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A
Total Equity -$9.7M-2.5% -$9.4M-2.1% -$9.2M-2.0% -$9.0M-2.0% -$8.9M-23103.8% -$38K-89.4% -$20K
Retained Earnings -$9.7M-2.5% -$9.4M-2.1% -$9.2M-2.0% -$9.0M-2.0% -$8.9M-13928.7% -$63K N/A

KFII Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Operating Cash Flow -$278K-107.7% -$134K-7.4% -$125K+37.1% -$198K+49.4% -$392K N/A N/A
Capital Expenditures 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
Investing Cash Flow N/A $0 $0 $0+100.0% -$288.9M N/A N/A
Financing Cash Flow -$75K $0 $0 $0-100.0% $290.4M N/A N/A
Dividends Paid N/A 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

KFII Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Gross Margin N/A N/A N/A N/A N/A N/A N/A
Operating Margin N/A N/A N/A N/A N/A N/A N/A
Net Margin 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 N/A
Return on Assets 0.8% N/A 1.0%+0.0pp 1.0%+0.4pp 0.5% N/A N/A
Current Ratio 190.70+182.0 8.73-3.0 11.74-1.3 13.05+0.4 12.65+12.6 0.02 N/A
Debt-to-Equity -32.39+0.5 -32.92+0.4 -33.31+0.3 -33.61+0.3 -33.93-27.6 -6.35 N/A
FCF Margin N/A N/A N/A N/A N/A N/A N/A

Note: Shareholder equity is negative (-$9.4M), 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.

Frequently Asked Questions

Yes, K&F Growth Acquisition Corp II-A (KFII) reported a net income of $10.2M in fiscal year 2025.

K&F Growth Acquisition Corp II-A (KFII) generated -$849K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

K&F Growth Acquisition Corp II-A (KFII) had $300.6M in total assets as of fiscal year 2025, including both current and long-term assets.

K&F Growth Acquisition Corp II-A (KFII) had a current ratio of 8.73 as of fiscal year 2025, which is generally considered healthy.

K&F Growth Acquisition Corp II-A (KFII) had a debt-to-equity ratio of -32.92 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

K&F Growth Acquisition Corp II-A (KFII) had a return on assets of 3.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, K&F Growth Acquisition Corp II-A (KFII) had $577K in cash against an annual operating cash burn of $849K. This gives an estimated cash runway of approximately 8 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.

K&F Growth Acquisition Corp II-A (KFII) has negative shareholder equity of -$9.4M 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.

K&F Growth Acquisition Corp II-A (KFII) has an earnings quality ratio of -0.08x, 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.

K&F Growth Acquisition Corp II-A (KFII) scores 17 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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