Trailblazer Merger Corporation I Rights (TBMCR) Financials
Newest figures come from the filing for FY2025, filed Mar 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TBMCR SEC filings page.
This page shows Trailblazer Merger Corporation I Rights (TBMCR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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.
Financial Health Signals
We do not publish a peer-relative financial health score for Trailblazer Merger Corporation I Rights, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Trailblazer Merger Corporation I Rights passes 1 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Trailblazer Merger Corporation I Rights reported a net loss of $8.3M while operations used $2.6M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Trailblazer Merger Corporation I Rights reported a net loss of $3.9M in Q4 2025. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q4 2025.
Not reported for Q4 2025.
Not reported for Q4 2025.
Cash & Balance Sheet
Trailblazer Merger Corporation I Rights held $85K in cash as of Q4 2025; no long-term debt figure is on record for that period.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
TBMCR 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.
| Metric | Q4'25Filing | Q3'25Filing | Q2'25Filing | Q1'25Filing | Q4'24Filing | Q3'24Filing | Q2'24Filing | Q1'24Filing |
|---|---|---|---|---|---|---|---|---|
| SG&A Expenses | N/A | $564K+5.8% | $446K-22.2% | N/A | N/A | $533K | $572K | N/A |
| Operating Income | -$889Kn/m | -$564Kn/m | -$446Kn/m | -$666Kn/m | -$800Kn/m | -$533Kn/m | -$572Kn/m | -$388Kn/m |
| Income Tax | $35K-74.9% | $50K-75.1% | $79K-59.8% | $65K-65.6% | $140K-33.5% | $200K+12.8% | $197K+40.6% | $189Kn/m |
| Net Income | -$3.9Mn/m | -$3.7M-2641.2% | -$240K-210.5% | -$451K-221.1% | -$458K-167.0% | $145K-72.2% | $218K-44.4% | $372Kn/m |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, EBITDA, Interest Expense, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
TBMCR 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 | Q4'25Filing | Q3'25Filing | Q2'25Filing | Q1'25Filing | Q4'24Filing | Q3'24Filing | Q2'24Filing | Q1'24Filing |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.3M-84.5% | $28.1M | $29.0M | $28.1M | $27.7M-62.4% | N/A | N/A | N/A |
| Current Assets | $213K-76.4% | $24.0M | $1.4M | $846K | $902K+20.3% | N/A | N/A | N/A |
| Cash & Equivalents | $85K+33.7% | $19K-95.8% | $99K-74.4% | $37K-93.6% | $64K-89.5% | $462K-31.6% | $388K-46.9% | $579K-44.9% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0-100.0% | $0n/m |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0-100.0% | $0n/m | $0n/m | $0n/m |
| Total Liabilities | $20.3M-40.1% | $36.1M | $36.6M | $35.0M | $33.8M-55.2% | N/A | N/A | N/A |
| Current Liabilities | $14.2M+177.2% | $34.1M | $7.1M | $6.0M | $5.1M+442.4% | N/A | N/A | N/A |
| Non-Current Liabilities | $6.1M-78.8% | $2.1M | $29.5M | $29.0M | $28.7M-61.5% | N/A | N/A | N/A |
| Total Equity | -$15.9Mn/m | -$11.9Mn/m | -$7.6Mn/m | -$6.9Mn/m | -$6.1Mn/m | -$5.0Mn/m | -$3.9Mn/m | -$2.7Mn/m |
| Retained Earnings | -$15.9Mn/m | -$11.9M | -$7.6M | -$6.9M | -$6.1Mn/m | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
TBMCR 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.
| Metric | Q4'25Filing | Q3'25Filing | Q2'25Filing | Q1'25Filing | Q4'24Filing | Q3'24Filing | Q2'24Filing | Q1'24Filing |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$448Kn/m | -$1.4Mn/m | -$423Kn/m | -$254Kn/m | -$719Kn/m | -$480Kn/m | -$177Kn/m | -$182Kn/m |
| Investing Cash Flow | N/A | -$167K-147.1% | $91Kn/m | -$167Kn/m | $50.3Mn/m | $353Kn/m | -$628Kn/m | -$537Kn/m |
| Financing Cash Flow | N/A | $285K+42.5% | $818K+33.1% | $394K-42.9% | -$49.1Mn/m | $200Kn/m | $615Kn/m | $690K-99.0% |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
TBMCR 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, Liabilities-to-Equity, Asset Turnover, FCF Margin.
Note: Shareholder equity is negative (-$15.9M), which causes the debt-to-equity, liabilities-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 (0.02), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where Trailblazer Merger Corporation I Rights Ranks
Frequently Asked Questions
No, Trailblazer Merger Corporation I Rights (TBMCR) reported a net loss of $8.3M in fiscal year 2025.
Trailblazer Merger Corporation I Rights (TBMCR) recorded an outflow of $2.6M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
Trailblazer Merger Corporation I Rights (TBMCR) had $4.3M in total assets as of fiscal year 2025, including both current and long-term assets.
Trailblazer Merger Corporation I Rights (TBMCR) had a current ratio of 0.02 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
Trailblazer Merger Corporation I Rights (TBMCR) had a return on assets of -192.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
At the end of fiscal year 2025, Trailblazer Merger Corporation I Rights (TBMCR) held $85K in cash, cash equivalents and investments, and reported an operating cash outflow of $2.6M over that year. Dividing the one by the other, the reported balance equals about 0 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Trailblazer Merger Corporation I Rights (TBMCR) has negative shareholder equity of -$15.9M as of fiscal year 2025, so no debt-to-equity or liabilities-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.
Trailblazer Merger Corporation I Rights (TBMCR) has a Piotroski F-Score of 1 out of 5 computable signals; 4 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.
Trailblazer Merger Corporation I Rights (TBMCR) reported a net loss of $8.3M while operations used $2.6M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.