Sizzle Acquisition Corp. II Financials
This page shows Sizzle Acquisition Corp. II (SZZL) 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).
With no reported revenue, FY2025 was driven by capital raised and redeployed rather than day-to-day operations.
Positive net income of$6.5M alongside negative operating cash flow of-$601K suggests the year's profit did not come from a self-funding operating engine. Cash movements were dominated instead by$231.4M of financing inflows and-$230.0M of investing outflows, so the entity functioned primarily as a balance-sheet vehicle.
A 6.7x current ratio and just
Some figures from recent filings were inconsistent and were omitted from this summary.
Financial Health Signals
We are recalculating Sizzle Acquisition Corp. II's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.
For every $1 of reported earnings, Sizzle Acquisition Corp. II generates $-0.09 in operating cash flow (-$601K OCF vs $6.5M 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
Earnings & Revenue
Sizzle Acquisition Corp. II reported $6.5M in net income in fiscal year 2025.
Cash & Balance Sheet
Sizzle Acquisition Corp. II held $805K in cash against $0 in long-term debt as of fiscal year 2025.
Margins & Returns
Capital Allocation
SZZL 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 | $436K | N/A | $145K-29.9% | $207K+391.2% | $42K | N/A | $52K |
| Operating Income | -$436K | N/A | -$145K+29.9% | -$207K-391.2% | -$42K | N/A | -$52K |
| Interest Expense | 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 |
| Net Income | $1.6M | N/A | $2.3M+10.4% | $2.1M+5021.8% | -$42K | N/A | -$52K |
| EPS (Diluted) | N/A | N/A | N/A | N/A | $-0.01 | N/A | N/A |
SZZL Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|
| Total Assets | $239.8M+0.8% | $238.0M+0.9% | $235.8M+1.0% | $233.6M+83562.7% | $279K+86.8% | $149K | N/A |
| Current Assets | $760K-18.4% | $932K-12.6% | $1.1M-6.7% | $1.1M+32568.3% | $4K | N/A | N/A |
| Cash & Equivalents | $653K-18.8% | $805K-14.0% | $936K-16.2% | $1.1M | N/A | 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 | $250.4M+0.9% | $248.1M+0.9% | $245.8M+1.0% | $243.4M+66839.4% | $364K+89.6% | $192K | N/A |
| Current Liabilities | $380K+173.5% | $139K-8.6% | $152K-20.3% | $191K | N/A | $192K | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$10.6M-4.3% | -$10.1M-1.4% | -$10.0M-1.5% | -$9.8M-11557.6% | -$84K-99.5% | -$42K-58.4% | -$27K |
| Retained Earnings | -$10.6M-4.3% | -$10.1M-1.4% | -$10.0M-1.5% | -$9.8M-8895.8% | -$109K-62.6% | -$67K | N/A |
SZZL Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$152K-16.2% | -$131K+11.9% | -$148K | N/A | N/A | 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 | N/A | N/A | N/A | N/A |
| Financing Cash Flow | N/A | $0+100.0% | -$33K | N/A | N/A | 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 |
SZZL 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 | 0.7% | N/A | 1.0%+0.1pp | 0.9%+16.0pp | -15.1% | N/A | N/A |
| Current Ratio | 2.00-4.7 | 6.71-0.3 | 7.02+1.0 | 5.99 | N/A | N/A | N/A |
| Debt-to-Equity | -23.69+0.8 | -24.48+0.1 | -24.60+0.1 | -24.72-20.4 | -4.31+0.2 | -4.53 | N/A |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$10.1M), 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
Is Sizzle Acquisition Corp. II profitable?
Yes, Sizzle Acquisition Corp. II (SZZL) reported a net income of $6.5M in fiscal year 2025.
What is Sizzle Acquisition Corp. II's operating cash flow?
Sizzle Acquisition Corp. II (SZZL) generated -$601K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Sizzle Acquisition Corp. II's total assets?
Sizzle Acquisition Corp. II (SZZL) had $238.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Sizzle Acquisition Corp. II's current ratio?
Sizzle Acquisition Corp. II (SZZL) had a current ratio of 6.71 as of fiscal year 2025, which is generally considered healthy.
What is Sizzle Acquisition Corp. II's debt-to-equity ratio?
Sizzle Acquisition Corp. II (SZZL) had a debt-to-equity ratio of -24.48 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Sizzle Acquisition Corp. II's return on assets (ROA)?
Sizzle Acquisition Corp. II (SZZL) had a return on assets of 2.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Sizzle Acquisition Corp. II's cash runway?
Based on fiscal year 2025 data, Sizzle Acquisition Corp. II (SZZL) had $805K in cash against an annual operating cash burn of $601K. This gives an estimated cash runway of approximately 16 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.
Why is Sizzle Acquisition Corp. II's debt-to-equity ratio negative or unusual?
Sizzle Acquisition Corp. II (SZZL) has negative shareholder equity of -$10.1M 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.
Are Sizzle Acquisition Corp. II's earnings high quality?
Sizzle Acquisition Corp. II (SZZL) has an earnings quality ratio of -0.09x, 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.