Melar Acquisition Corp. I Financials
This page shows Melar Acquisition Corp. I (MACI) 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).
Liability-heavy financing leaves negative equity while reported profit sits outside the operating engine.
The gap between net income of$5.5M and operating income of-$1.5M , alongside operating cash flow of-$774K , indicates the positive bottom line was not produced by core operations or cash generation.
Total liabilities of
A current ratio of 0.9x means current assets are below current liabilities, while no revenue or free-cash-flow measure is reported, limiting assessment of recurring operating performance.
Some figures from recent filings were inconsistent and were omitted from this summary.
Financial Health Signals
Melar Acquisition Corp. I 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.
For every $1 of reported earnings, Melar Acquisition Corp. I used $0.14 of operating cash (-$774K OCF vs $5.5M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Melar Acquisition Corp. I reported an operating loss of $1.5M against $540K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Melar Acquisition Corp. I reported $5.5M in net income in fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Melar Acquisition Corp. I held $32K in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
None of these metrics is reported for fiscal year 2025.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
MACI Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| SG&A Expenses | $629K-15.0% | $739K | N/A | $712K+205.2% | $233K+48.6% | $157K | N/A | $130K |
| Operating Income | -$629K+15.0% | -$739K | N/A | -$712K-205.2% | -$233K-48.6% | -$157K | N/A | -$130K |
| Interest Expense | $167K+9.1% | $153K | N/A | $384K+352011.0% | $109 | N/A | N/A | N/A |
| Net Income | $720K-7.5% | $778K | N/A | $1.1M-28.7% | $1.6M-1.5% | $1.6M | N/A | $2.4M |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, Income Tax, EPS (Diluted).
MACI Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $47.0M-73.4% | $176.9M+0.9% | $175.3M+0.9% | $173.8M+2.9% | $168.9M+1.1% | $167.1M+0.9% | $165.5M+1.1% | $163.7M |
| Current Assets | $4.2M+3.5% | $4.0M+2.6% | $3.9M-3.4% | $4.0M+313.7% | $978K+6.7% | $916K-12.2% | $1.0M-5.5% | $1.1M |
| Cash & Equivalents | $2K-85.4% | $14K-55.7% | $32K-88.8% | $286K-48.5% | $556K-19.8% | $693K-21.1% | $878K-6.0% | $934K |
| Total Liabilities | $50.5M-72.6% | $184.7M+1.3% | $182.3M+1.1% | $180.4M+3.2% | $174.8M+1.2% | $172.8M+1.0% | $171.0M+1.1% | $169.1M |
| Current Liabilities | $5.9M+15.3% | $5.1M+19.5% | $4.3M+5.7% | $4.1M+1292.2% | $292K+788.6% | $33K-20.4% | $41K+263.7% | $11K |
| Total Equity | -$3.5M+54.9% | -$7.7M-10.5% | -$7.0M-5.6% | -$6.6M-11.9% | -$5.9M-4.1% | -$5.7M-2.8% | -$5.5M-2.4% | -$5.4M |
| Retained Earnings | -$3.5M+54.9% | -$7.7M-10.5% | -$7.0M-5.6% | -$6.6M-11.9% | -$5.9M-4.1% | -$5.7M-2.8% | -$5.5M-2.4% | -$5.4M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
MACI Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$232K-150.0% | -$93K+60.8% | -$237K-10.0% | -$215K-56.7% | -$137K+25.8% | -$185K-231.5% | -$56K+45.8% | -$103K |
| Investing Cash Flow | N/A | N/A | -$18K+99.4% | -$3.0M | N/A | N/A | $0 | $0 |
| Financing Cash Flow | -$131.3M-175125.6% | $75K | $0-100.0% | $3.0M | N/A | N/A | $0 | $0 |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
MACI Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Return on Assets | 1.5%+1.1pp | 0.4% | N/A | 0.6%-0.3pp | 0.9%0.0pp | 0.9% | N/A | 1.5% |
| Current Ratio | 0.70-0.1x | 0.78-0.1x | 0.91-0.1x | 1.00-2.4x | 3.35-24.6x | 27.91+2.6x | 25.30-72.1x | 97.39 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Debt-to-Equity, FCF Margin.
Note: Shareholder equity is negative (-$7.0M), 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.
Note: The current ratio is below 1.0 (0.91), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Where Melar Acquisition Corp. I Ranks
Frequently Asked Questions
Is Melar Acquisition Corp. I profitable?
Yes, Melar Acquisition Corp. I (MACI) reported a net income of $5.5M in fiscal year 2025.
What is Melar Acquisition Corp. I's operating cash flow?
Melar Acquisition Corp. I (MACI) recorded an outflow of $774K in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Melar Acquisition Corp. I's total assets?
Melar Acquisition Corp. I (MACI) had $175.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Melar Acquisition Corp. I's current ratio?
Melar Acquisition Corp. I (MACI) had a current ratio of 0.91 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Melar Acquisition Corp. I's return on assets (ROA)?
Melar Acquisition Corp. I (MACI) had a return on assets of 3.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is Melar Acquisition Corp. I's debt-to-equity ratio negative or not reported?
Melar Acquisition Corp. I (MACI) has negative shareholder equity of -$7.0M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. 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.
Are Melar Acquisition Corp. I's earnings high quality?
For every $1 of reported earnings, Melar Acquisition Corp. I (MACI) used $0.14 of operating cash (-$774K OCF vs $5.5M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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.
Can Melar Acquisition Corp. I cover its interest payments?
Melar Acquisition Corp. I (MACI) reported an operating loss of $1.5M against $540K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.