RF Acquisition Corp II (RFAIU) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the RFAIU SEC filings page.
This page shows RF Acquisition Corp II (RFAIU) 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).
Capital-account movements dominate a shrinking balance sheet, while positive reported earnings remain disconnected from operating cash generation.
The key earnings-quality mismatch is that net income stayed positive at$3.2M in FY2024 and$3.4M in FY2025. Operating cash flow was negative in both periods, moving from-$90K to-$561K , so reported profit was not converting into cash from operations.
Capital strength weakened despite ROA rising from
The current ratio fell from 3.3x in FY2024 to 0.4x in FY2025, shifting from current assets exceeding current liabilities to the reverse. Investing and financing cash flows nearly reversed between periods, indicating that capital-account movements—not operations—dominated reported cash changes.
Financial Health Signals
RF Acquisition Corp II 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.
RF Acquisition Corp II 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.
For every $1 of reported earnings, RF Acquisition Corp II used $0.17 of operating cash (-$561K OCF vs $3.4M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
RF Acquisition Corp II reported $104K in net income in Q2 2026. This represents a decrease of 90.3% from the same quarter a year earlier. Against the prior quarter it is up 11.4%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
RF Acquisition Corp II held $0 in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
None of these metrics is reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
RFAIU 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.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, EBITDA, Interest Expense, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
RFAIU 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $53.6M-56.2% | $53.1M-56.2% | $52.7M-56.1% | $123.5M+4.0% | $122.3M+4.2% | $121.2M+40618.2% | $120.1M | $118.8M |
| Current Assets | $78K-88.4% | $240K-72.7% | $402K-59.2% | $591K-41.6% | $670K-36.1% | $879K | $984K | $1.0M |
| Cash & Equivalents | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $58.9M-53.2% | $58.1M-53.4% | $57.3M-53.6% | $127.4M+4.5% | $126.0M+4.6% | $124.8M+37353.9% | $123.4M | $122.0M |
| Current Liabilities | $1.4M+262.5% | $1.2M+189.9% | $969K+228.4% | $527K+137.4% | $375K+123.8% | $403K+21.0% | $295K | $222K |
| Non-Current Liabilities | $57.6M-54.2% | $56.9M-54.2% | $56.3M-54.3% | $126.9M+4.2% | $125.6M+4.5% | $124.4M | $123.1M | $121.8M |
| Total Equity | -$5.3M-42.3% | -$5.0M-39.6% | -$4.6M-37.7% | -$4.0M-22.5% | -$3.7M-18.7% | -$3.5M-9919.9% | -$3.3M | -$3.2M |
| Retained Earnings | -$5.3M-42.3% | -$5.0M-39.6% | -$4.6M-37.7% | -$4.0M-22.5% | -$3.7M-18.7% | -$3.5M-5774.5% | -$3.3M | -$3.2M |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
RFAIU 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.
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
RFAIU 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.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Debt-to-Equity, Asset Turnover, FCF Margin.
Note: Shareholder equity is negative (-$4.6M), 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 (0.41), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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 |
|---|---|---|---|---|---|---|
| RF Acquisition Corp II RFAIU | FY2025 | N/A | $3.4M | N/A | N/A | — |
| Keen Vision Acquisition Corp KVAC | FY2025 | N/A | $1.9M | N/A | $63.4M | — |
| FG Merger Corp. FGMC | FY2025 | N/A | $1.4M | N/A | $85.5M | — |
| Perceptive Cap PCSC | FY2025 | N/A | $837K | N/A | $123.2M | — |
| DT Cloud Star DTSQ | FY2025 | $2.7M | $2.1M | 79.5% | $41.5M | 28/100 |
| Flag Ship Acquisition Corp FSHP | FY2025 | $2.5M | $1.8M | 73.5% | $58.0M | 16/100 |
Where RF Acquisition Corp II Ranks
Frequently Asked Questions
Is RF Acquisition Corp II profitable?
Yes, RF Acquisition Corp II (RFAIU) reported a net income of $3.4M in fiscal year 2025.
What is RF Acquisition Corp II's operating cash flow?
RF Acquisition Corp II (RFAIU) recorded an outflow of $561K in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are RF Acquisition Corp II's total assets?
RF Acquisition Corp II (RFAIU) had $52.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What is RF Acquisition Corp II's current ratio?
RF Acquisition Corp II (RFAIU) had a current ratio of 0.41 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is RF Acquisition Corp II's return on assets (ROA)?
RF Acquisition Corp II (RFAIU) had a return on assets of 6.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Why is RF Acquisition Corp II's debt-to-equity ratio negative or not reported?
RF Acquisition Corp II (RFAIU) has negative shareholder equity of -$4.6M 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.
What is RF Acquisition Corp II's Piotroski F-Score?
RF Acquisition Corp II (RFAIU) 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.
Are RF Acquisition Corp II's earnings high quality?
For every $1 of reported earnings, RF Acquisition Corp II (RFAIU) used $0.17 of operating cash (-$561K OCF vs $3.4M 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.