Trex Acquisition Corp Financials
This page shows Trex Acquisition Corp (TRXA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 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).
A financing-dependent balance sheet dominates T-REX: tiny revenue supports little of the reported cash burn, overhead, or near-term liabilities.
From FY2023 to FY2025, operating cash burn widened from-$188K to-$764K . Even after higher financing inflows, cash was only$50K and the current ratio sat at 0.1x in FY2025, showing that fresh capital was being consumed by operations rather than rebuilding day-to-day liquidity.
FY2025 revenue of
The balance sheet is deeply liability-heavy: FY2025 liabilities were
Financial Health Signals
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 Trex Acquisition Corp'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.
Trex Acquisition Corp has an operating margin of -6531.0%, meaning the company retains $-6531 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses.
Trex Acquisition Corp's revenue surged 104.7% year-over-year to $32K, reflecting rapid business expansion. This strong growth earns a score of 0/100.
Trex Acquisition Corp carries a low D/E ratio of -1.69, meaning only $-1.69 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.
Trex Acquisition Corp's current ratio of 0.06 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Trex Acquisition Corp passes 1 of 9 financial strength tests. 1 of 3 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Trex Acquisition Corp generates $0.30 in operating cash flow (-$764K OCF vs -$2.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Trex Acquisition Corp earns $-52.7 in operating income for every $1 of interest expense (-$2.1M vs $40K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Trex Acquisition Corp generated $32K in revenue in fiscal year 2025. This represents an increase of 104.7% from the prior year.
Trex Acquisition Corp's EBITDA was -$2.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
Trex Acquisition Corp reported -$2.5M in net income in fiscal year 2025.
Trex Acquisition Corp earned $-0.13 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 116.7% from the prior year.
Cash & Balance Sheet
Trex Acquisition Corp held $50K in cash against $0 in long-term debt as of fiscal year 2025.
Trex Acquisition Corp had 23M shares outstanding in fiscal year 2025. This represents an increase of 26.9% from the prior year.
Margins & Returns
Trex Acquisition Corp's gross margin was -266.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 174.9 percentage points from the prior year.
Trex Acquisition Corp's operating margin was -6531.0% in fiscal year 2025, reflecting core business profitability.
Trex Acquisition Corp's net profit margin was -7828.2% in fiscal year 2025, showing the share of revenue converted to profit.
Capital Allocation
TRXA Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2K-77.0% | $9K | N/A | $8K | $0 | $0 | N/A | $0 |
| Cost of Revenue | $46K-25.3% | $62K | N/A | $12K | $0 | $0 | N/A | $0 |
| Gross Profit | -$44K+16.3% | -$53K | N/A | -$4K | $0 | $0 | N/A | $0 |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | -$694K-14.6% | -$605K | N/A | -$379K-18.3% | -$320K-6.5% | -$301K | N/A | -$236K |
| Interest Expense | $35K+35.8% | $26K | N/A | $16K+36.9% | $12K+5.4% | $11K | N/A | $10K |
| Income Tax | $0 | $0 | N/A | $0 | $0 | $0 | N/A | $0 |
| Net Income | -$756K-15.5% | -$654K | N/A | -$394K+5.7% | -$417K-33.9% | -$312K | N/A | -$246K |
| EPS (Diluted) | $-0.030.0% | $-0.03 | N/A | $-0.020.0% | $-0.020.0% | $-0.02 | N/A | $-0.01 |
TRXA Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $680K-19.4% | $844K+12.8% | $748K-27.3% | $1.0M+358.7% | $224K-11.8% | $254K+66.9% | $152K-21.0% | $193K |
| Current Assets | $12K-83.0% | $73K-10.8% | $82K-28.4% | $115K-48.8% | $224K+8.1% | $207K+36.2% | $152K-3.0% | $157K |
| Cash & Equivalents | $2K+358.1% | $384-99.2% | $50K+5609.9% | $871+504.9% | $144+39.8% | $103+186.1% | $36+176.9% | $13 |
| 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 | $7K | N/A | N/A | $0 | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $2.1M+33.2% | $1.6M-13.6% | $1.8M-3.4% | $1.9M+20.7% | $1.6M+1.5% | $1.6M+23.2% | $1.3M+11.4% | $1.1M |
| Current Liabilities | $2.1M+33.2% | $1.6M+19.1% | $1.3M-30.0% | $1.9M+20.7% | $1.6M+1.5% | $1.6M+23.2% | $1.3M+11.4% | $1.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$1.4M-92.8% | -$743K+31.8% | -$1.1M-24.6% | -$874K+35.3% | -$1.4M-4.2% | -$1.3M-17.2% | -$1.1M-18.0% | -$939K |
| Retained Earnings | -$11.0M-7.4% | -$10.2M-6.8% | -$9.6M-17.3% | -$8.1M-5.1% | -$7.8M-5.7% | -$7.3M-4.4% | -$7.0M-3.1% | -$6.8M |
TRXA Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$39K+71.4% | -$136K+46.9% | -$257K-914.1% | -$25K+90.9% | -$280K-38.8% | -$202K-57.0% | -$128K+29.1% | -$181K |
| Capital Expenditures | N/A | N/A | N/A | N/A | $0 | $0 | $0 | $0 |
| Free Cash Flow | N/A | N/A | N/A | N/A | -$280K-38.8% | -$202K-57.0% | -$128K+29.1% | -$181K |
| Investing Cash Flow | -$5K+40.1% | -$8K+93.5% | -$119K+52.7% | -$252K | $0 | $0 | $0 | $0 |
| Financing Cash Flow | $45K-52.5% | $95K-77.7% | $425K+53.1% | $278K-0.8% | $280K+38.8% | $202K+57.1% | $128K-28.6% | $180K |
| 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 |
TRXA Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -2069.9%-1501.0pp | -568.9% | N/A | -44.3% | N/A | N/A | N/A | N/A |
| Operating Margin | -32560.6%-26020.7pp | -6539.8% | N/A | -4606.1% | N/A | N/A | N/A | N/A |
| Net Margin | -35471.7%-28405.2pp | -7066.5% | N/A | -4785.9% | 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 | -111.1%-33.6pp | -77.6% | N/A | -38.3%+147.9pp | -186.2%-63.5pp | -122.7% | N/A | -127.6% |
| Current Ratio | 0.01-0.0 | 0.05-0.0 | 0.060.0 | 0.06-0.1 | 0.140.0 | 0.13+0.0 | 0.12-0.0 | 0.14 |
| Debt-to-Equity | -1.47+0.7 | -2.13-0.4 | -1.69+0.5 | -2.18-1.0 | -1.17+0.0 | -1.20-0.1 | -1.14+0.1 | -1.21 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Note: Shareholder equity is negative (-$1.1M), 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.
Note: The current ratio is below 1.0 (0.06), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Trex Acquisition Corp's annual revenue?
Trex Acquisition Corp (TRXA) reported $32K in total revenue for fiscal year 2025. This represents a 104.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Trex Acquisition Corp's revenue growing?
Trex Acquisition Corp (TRXA) revenue grew by 104.7% year-over-year, from $16K to $32K in fiscal year 2025.
Is Trex Acquisition Corp profitable?
No, Trex Acquisition Corp (TRXA) reported a net income of -$2.5M in fiscal year 2025, with a net profit margin of -7828.2%.
What is Trex Acquisition Corp's EBITDA?
Trex Acquisition Corp (TRXA) had EBITDA of -$2.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Trex Acquisition Corp's gross margin?
Trex Acquisition Corp (TRXA) had a gross margin of -266.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Trex Acquisition Corp's operating margin?
Trex Acquisition Corp (TRXA) had an operating margin of -6531.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Trex Acquisition Corp's net profit margin?
Trex Acquisition Corp (TRXA) had a net profit margin of -7828.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Trex Acquisition Corp's operating cash flow?
Trex Acquisition Corp (TRXA) generated -$764K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Trex Acquisition Corp's total assets?
Trex Acquisition Corp (TRXA) had $748K in total assets as of fiscal year 2025, including both current and long-term assets.
What is Trex Acquisition Corp's current ratio?
Trex Acquisition Corp (TRXA) had a current ratio of 0.06 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Trex Acquisition Corp's debt-to-equity ratio?
Trex Acquisition Corp (TRXA) had a debt-to-equity ratio of -1.69 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Trex Acquisition Corp's return on assets (ROA)?
Trex Acquisition Corp (TRXA) had a return on assets of -339.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Trex Acquisition Corp's cash runway?
Based on fiscal year 2025 data, Trex Acquisition Corp (TRXA) had $50K in cash against an annual operating cash burn of $764K. 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.
Why is Trex Acquisition Corp's debt-to-equity ratio negative or unusual?
Trex Acquisition Corp (TRXA) has negative shareholder equity of -$1.1M 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.
What is Trex Acquisition Corp's Piotroski F-Score?
Trex Acquisition Corp (TRXA) has a Piotroski F-Score of 1 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.
Are Trex Acquisition Corp's earnings high quality?
Trex Acquisition Corp (TRXA) has an earnings quality ratio of 0.30x, 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.
Can Trex Acquisition Corp cover its interest payments?
Trex Acquisition Corp (TRXA) has an interest coverage ratio of -52.7x, meaning it can struggle to cover its interest obligations. 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.
How financially healthy is Trex Acquisition Corp?
Trex Acquisition Corp (TRXA) scores 16 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.