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Sim Acquisition Corp. I Financials

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

This page shows Sim Acquisition Corp. I (SIMA) 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).

Rhea AI SIMA FY2025

Positive earnings are coming from non-operating balance-sheet mechanics, while cash use and negative equity show no self-funding operating engine yet.

In FY2025, net income of $8.8M sat alongside an operating cash outflow of -$632K and no reported revenue, following the same pattern in FY2024; that means reported profit was created below the operating line rather than by an ongoing business producing cash. Even with operating cash burn improving year over year, cash still fell to $65K, so those accounting gains were not replenishing liquidity.

With total liabilities of $256.3M exceeding total assets of $245.4M, the company is operating with a negative equity cushion; economically, even modest balance-sheet moves pass straight through to common equity because there is no surplus capital underneath. That also explains why leverage reads negative rather than simply high: the equity denominator itself is below zero.

Short-term liquidity tightened sharply: current assets slipped below current liabilities in FY2025, after a clear cushion a year earlier, and cash of $65K leaves little day-to-day funding capacity on its own. This makes the entity structure-funded rather than operations-funded, because recurring operating cash generation is not covering ongoing administrative use of cash.

Generated by Rhea from SEC filings [ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 2 / 100
Financial Profile 2/100

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 Sim Acquisition Corp. I'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
13

Sim Acquisition Corp. I's current ratio of 0.89 is below the typical benchmark, resulting in a score of 13/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Piotroski F-Score Weak
2/9

Sim Acquisition Corp. I passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality
-0.07x

For every $1 of reported earnings, Sim Acquisition Corp. I generates $-0.07 in operating cash flow (-$632K OCF vs $8.8M 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
$8.8M
YoY+85.2%

Sim Acquisition Corp. I reported $8.8M in net income in fiscal year 2025. This represents an increase of 85.2% from the prior year.

EPS (Diluted)
N/A

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$65K
YoY-90.6%

Sim Acquisition Corp. I held $65K 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

SIMA 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 $127K N/A $258K+42.1% $182K-24.8% $241K N/A $270K+2004.1% $13K
Operating Income -$127K N/A -$258K-42.1% -$182K+24.8% -$241K N/A -$270K-2004.1% -$13K
Interest Expense N/A N/A N/A N/A 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-2.0% $2.3M+3.4% $2.2M N/A $2.4M+18457.4% -$13K
EPS (Diluted) N/A N/A N/A N/A N/A N/A N/A $-0.01

SIMA Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $247.9M+1.0% $245.4M+0.9% $243.1M+1.0% $240.8M+0.9% $238.6M+0.9% $236.3M+1.0% $233.9M+103294.3% $226K
Current Assets $607K+124.5% $270K-19.1% $334K-11.2% $376K-36.3% $590K-28.4% $824K-22.6% $1.1M N/A
Cash & Equivalents $468K+615.9% $65K-61.3% $169K-51.1% $346K-32.3% $512K-26.6% $697K-19.0% $860K+4367.5% $19K
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 $247.9M-3.3% $256.3M+1.0% $253.7M+1.0% $251.1M+1.0% $248.7M+1.0% $246.2M+1.1% $243.5M+100307.0% $243K
Current Liabilities $768K+152.2% $305K+600.4% $43K+479.8% $8K-81.3% $40K+23.0% $33K+243.3% $10K-96.1% $243K
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity -$61K+99.4% -$10.9M-3.1% -$10.6M-2.5% -$10.3M-1.8% -$10.1M-2.4% -$9.9M-2.7% -$9.6M-58864.2% -$16K
Retained Earnings -$62K+99.4% -$10.9M-3.1% -$10.6M-2.5% -$10.3M-1.8% -$10.1M-2.4% -$9.9M-2.7% -$9.6M-23177.8% -$41K

SIMA Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow -$299K-188.6% -$104K+41.4% -$177K-6.9% -$166K+10.7% -$185K-13.7% -$163K+67.4% -$500K 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 $0 N/A N/A
Financing Cash Flow $702K N/A N/A N/A N/A $0-100.0% $231.3M 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

SIMA 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%-0.0pp 0.9%+0.0pp 0.9% N/A 1.0%+6.7pp -5.7%
Current Ratio 0.79-0.1 0.89-6.8 7.68-42.5 50.16+35.4 14.72-10.6 25.28-86.9 112.15 N/A
Debt-to-Equity -4059.63-4036.1 -23.55+0.5 -24.02+0.4 -24.38+0.2 -24.57+0.4 -24.92+0.4 -25.33-10.5 -14.87
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

Note: Shareholder equity is negative (-$10.9M), 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 (0.89), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Frequently Asked Questions

Yes, Sim Acquisition Corp. I (SIMA) reported a net income of $8.8M in fiscal year 2025.

Sim Acquisition Corp. I (SIMA) generated -$632K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Sim Acquisition Corp. I (SIMA) had $245.4M in total assets as of fiscal year 2025, including both current and long-term assets.

Sim Acquisition Corp. I (SIMA) had a current ratio of 0.89 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

Sim Acquisition Corp. I (SIMA) had a debt-to-equity ratio of -23.55 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Sim Acquisition Corp. I (SIMA) had a return on assets of 3.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Sim Acquisition Corp. I (SIMA) had $65K in cash against an annual operating cash burn of $632K. This gives an estimated cash runway of approximately 1 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.

Sim Acquisition Corp. I (SIMA) has negative shareholder equity of -$10.9M 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.

Sim Acquisition Corp. I (SIMA) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. 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.

Sim Acquisition Corp. I (SIMA) 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.

Sim Acquisition Corp. I (SIMA) scores 2 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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