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Launch Two Acquisition Corp Financials

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

This page shows Launch Two Acquisition Corp (LPBB) 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 LPBB FY2025

Accounting gains lifted reported profit, but the entity still behaved like a cash-burning administrative vehicle with negative equity.

FY2025 net income of $8.9M coexisted with an operating loss of -$909K, so reported profit did not come from the recurring cost structure. That reading is reinforced by operating cash outflow of -$611K alongside return on assets of 3.7%: the balance sheet produced accounting income without turning it into operating cash.

Short-term liquidity looks serviceable because the current ratio was 2.3x and current liabilities were only $156K, but total equity was still -$10.7M. That combination says near-term bills appear manageable even though the entity no longer has an equity cushion supporting the full balance sheet.

Cash of just $250K against total assets of $243.7M shows the reported scale sits mostly in non-cash assets rather than day-to-day funding capacity. The operating line also looks almost entirely like overhead, since SG&A of $909K essentially matches the full-year operating loss, making this more of a balance-sheet-driven vehicle than a self-funding operating business.

Generated by Rhea from SEC filings [ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 7 / 100
Financial Profile 7/100

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 Launch Two Acquisition Corp'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
43

Launch Two Acquisition Corp's current ratio of 2.30 indicates adequate short-term liquidity, earning a score of 43/100. The company can meet its near-term obligations, though with limited headroom.

Earnings Quality Low Quality
-0.07x

For every $1 of reported earnings, Launch Two Acquisition Corp generates $-0.07 in operating cash flow (-$611K OCF vs $8.9M 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
$8.9M

Launch Two Acquisition Corp reported $8.9M in net income in fiscal year 2025.

EPS (Diluted)
N/A

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$250K

Launch Two Acquisition Corp held $250K 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

LPBB Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue N/A 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 $195K N/A $239K+36.1% $175K-15.6% $208K N/A $16K-58.8% $39K
Operating Income -$195K N/A -$239K-36.1% -$175K+15.6% -$208K N/A -$16K+58.8% -$39K
Interest Expense N/A N/A N/A $2.5M 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 $2.0M N/A $2.3M-4.1% $2.4M+6.8% $2.2M N/A -$16K+58.8% -$39K
EPS (Diluted) $0.07 N/A N/A N/A N/A N/A N/A N/A

LPBB Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $245.8M+0.9% $243.7M+0.9% $241.7M+1.0% $239.3M+1.0% $237.0M+1.0% $234.7M+44279.6% $529K N/A
Current Assets $290K-19.3% $360K-44.3% $646K-17.9% $786K-22.4% $1.0M-10.5% $1.1M N/A N/A
Cash & Equivalents $141K-43.7% $250K-50.0% $501K-19.2% $619K-24.5% $821K-12.3% $936K 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 $256.7M+0.9% $254.5M+0.9% $252.1M+1.0% $249.5M+1.0% $247.1M+1.0% $244.6M+43646.5% $559K N/A
Current Liabilities $281K+80.2% $156K0.0% $156K+92.5% $81K-48.1% $156K+71.6% $91K-83.7% $559K N/A
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity -$10.9M-1.8% -$10.7M-2.7% -$10.5M-2.3% -$10.2M-1.7% -$10.0M-2.1% -$9.8M-32537.6% -$30K-114.4% -$14K
Retained Earnings -$10.9M-1.8% -$10.7M-2.7% -$10.5M-2.3% -$10.2M-1.7% -$10.0M-2.1% -$9.8M-17742.1% -$55K N/A

LPBB Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow -$109K+37.7% -$176K-47.9% -$119K+41.1% -$201K-75.0% -$115K 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 N/A N/A N/A N/A N/A N/A N/A
Financing Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
Dividends Paid N/A 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 N/A

LPBB Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin N/A 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 N/A
Net Margin N/A 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 N/A
Return on Assets 0.8% N/A 0.9%-0.1pp 1.0%+0.1pp 0.9% N/A -3.0% N/A
Current Ratio 1.03-1.3 2.30-1.8 4.13-5.6 9.69+3.2 6.48-5.9 12.42 N/A N/A
Debt-to-Equity -23.47+0.2 -23.68+0.4 -24.10+0.3 -24.41+0.2 -24.59+0.3 -24.86-6.3 -18.55 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 (-$10.7M), 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

Yes, Launch Two Acquisition Corp (LPBB) reported a net income of $8.9M in fiscal year 2025.

Launch Two Acquisition Corp (LPBB) generated -$611K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Launch Two Acquisition Corp (LPBB) had $243.7M in total assets as of fiscal year 2025, including both current and long-term assets.

Launch Two Acquisition Corp (LPBB) had a current ratio of 2.30 as of fiscal year 2025, which is generally considered healthy.

Launch Two Acquisition Corp (LPBB) had a debt-to-equity ratio of -23.68 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Launch Two Acquisition Corp (LPBB) had a return on assets of 3.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Launch Two Acquisition Corp (LPBB) had $250K in cash against an annual operating cash burn of $611K. This gives an estimated cash runway of approximately 5 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.

Launch Two Acquisition Corp (LPBB) has negative shareholder equity of -$10.7M 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.

Launch Two Acquisition Corp (LPBB) has an earnings quality ratio of -0.07x, 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.

Launch Two Acquisition Corp (LPBB) scores 7 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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