Thayer Ventures Acquisition Corporation II (TVAI) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 27, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TVAI SEC filings page.
Thayer Ventures Acquisition Corporation II (TVAI) reported $7.8M in revenue over the twelve months to Jun 30, 2026. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. All figures are derived from SEC filings (10-K and 10-Q reports).
The statements depict an acquisition vehicle whose balance sheet, not operating revenue, explains its reported financial position.
The combination of a $1.0M operating loss, $3.9M net income, and only$617K of operating cash flow indicates that reported earnings were not primarily produced by ongoing operations.
With no reported revenue or gross profit, conventional margin analysis does not describe this entity; the more useful lens is its capital structure. Liabilities of
The balance sheet also reflects substantial investing activity: investing cash flow was an outflow of
Financial Health Signals
Thayer Ventures Acquisition Corporation 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.
Thayer Ventures Acquisition Corporation II scores 0.75, below the 1.81 distress threshold. The score is pulled down most by an accumulated deficit of $8.2M against total assets of $206.8M. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
For every $1 of reported earnings, Thayer Ventures Acquisition Corporation II generates $0.16 in operating cash flow ($617K OCF vs $3.9M 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
Thayer Ventures Acquisition Corporation II generated $1.8M in revenue in Q2 2026. This represents an increase of 84.2% from the same quarter a year earlier. Against the prior quarter it is up 1.0%.
Thayer Ventures Acquisition Corporation II reported $1.4M in net income in Q2 2026. This represents an increase of 187.5% from the same quarter a year earlier. Against the prior quarter it is up 42.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Thayer Ventures Acquisition Corporation II held $0 in cash as of Q2 2026; no long-term debt figure is on record for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Thayer Ventures Acquisition Corporation II's operating margin was -15.9% in Q2 2026, reflecting core business profitability. This is up 31.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.2 percentage points.
Thayer Ventures Acquisition Corporation II's net profit margin was 76.7% in Q2 2026, showing the share of revenue converted to profit. This is up 27.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 22.2 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
TVAI 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8M+84.2% | $1.8Mn/m | $2.0M | $2.1Mn/m | $999Kn/m | $0 | N/A | $0 |
| SG&A Expenses | $292K-38.2% | $330K+1721.3% | $394K | $158K+1008.1% | $472K+1813.4% | $18K | N/A | $14K |
| Operating Income | -$292Kn/m | -$330Kn/m | -$394K | -$158Kn/m | -$472Kn/m | -$18K | N/A | -$14K |
| Net Income | $1.4M+187.5% | $994Kn/m | $1.6M | $2.0Mn/m | $491Kn/m | -$163K | N/A | -$14K |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, EBITDA, Interest Expense, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
TVAI 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 | $209.8M+3.3% | $208.5M+18184.2% | $206.8M+33108.9% | $205.1M | $203.1M | $1.1M | $623K | N/A |
| Current Assets | $165K-78.9% | $291K | $437Kn/m | $648K | $779K | N/A | $0 | N/A |
| Cash & Equivalents | $0n/m | $0n/m | $0n/m | $0 | $0 | $0 | $0 | N/A |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0 | $0 | $0 | $0 | N/A |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0 | $0 | $0 | $0 | N/A |
| Total Liabilities | $218.6M+3.7% | $217.0M+18017.0% | $215.0M+32368.0% | $212.9M | $210.8M | $1.2M | $662K | N/A |
| Current Liabilities | $732K+415.3% | $723K-3.4% | $156K-76.5% | $125K | $142K | $748K | $662K | N/A |
| Non-Current Liabilities | $217.9M+3.4% | $216.3M+47949.5% | $214.8Mn/m | $212.8M | $210.6M | $450K | $0 | N/A |
| Total Equity | -$8.8Mn/m | -$8.5Mn/m | -$8.2Mn/m | -$7.8Mn/m | -$7.6M-2161979.6% | -$58K | -$39K | -$14K |
| Retained Earnings | -$8.8Mn/m | -$8.5Mn/m | -$8.2Mn/m | -$7.8M | -$7.6M | -$228K | -$64K | N/A |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
TVAI 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, Capital Expenditures, Free Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
TVAI 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.
| 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 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -15.9%+31.4pp | -18.1% | -19.9% | -7.4% | -47.2% | N/A | N/A | N/A |
| Net Margin | 76.7%+27.6pp | 54.5% | 80.1% | 92.6% | 49.1% | N/A | N/A | N/A |
| Return on Assets | 0.7%+0.4pp | 0.5%+14.8pp | 0.8% | 1.0% | 0.2% | -14.3% | N/A | N/A |
| Current Ratio | 0.23-5.3x | 0.40 | 2.81+2.8x | 5.18 | 5.49 | N/A | 0.00 | N/A |
| Asset Turnover | 0.010.0x | 0.010.0x | 0.01 | 0.01 | 0.00 | 0.00 | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin, Return on Equity, Debt-to-Equity, Liabilities-to-Equity, FCF Margin.
Note: Shareholder equity is negative (-$8.2M), 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.
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. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Thayer Ventures Acquisition Corporation II TVAI | FY2025 | $5.1M | $3.9M | 76.0% | $284.5M | — |
| Iron Horse Acquisitions II Corp. IRHO | FY2025 | N/A | -$204K | N/A | $295.8M | — |
| Hall Chadwick Acquisition Corp HCAC | FY2026 | $4.5M | $3.7M | 82.2% | $296.1M | 31/100 |
Where Thayer Ventures Acquisition Corporation II Ranks
Frequently Asked Questions
Thayer Ventures Acquisition Corporation II (TVAI) reported $5.1M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Yes, Thayer Ventures Acquisition Corporation II (TVAI) reported a net income of $6.0M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net income of $3.9M, with a net profit margin of 76.0%.
Thayer Ventures Acquisition Corporation II (TVAI) had an operating margin of -20.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
Thayer Ventures Acquisition Corporation II (TVAI) had a net profit margin of 76.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Thayer Ventures Acquisition Corporation II (TVAI) generated $617K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Thayer Ventures Acquisition Corporation II (TVAI) had $206.8M in total assets as of fiscal year 2025, including both current and long-term assets.
Thayer Ventures Acquisition Corporation II (TVAI) had a current ratio of 2.81 as of fiscal year 2025, which is generally considered healthy.
Thayer Ventures Acquisition Corporation II (TVAI) had a return on assets of 1.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Thayer Ventures Acquisition Corporation II (TVAI) trades at 47.7x earnings, its market capitalization divided by $6.0M net income, trailing 12 months to June 30, 2026. The market capitalization is $284.5M as of Oct 27, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Thayer Ventures Acquisition Corporation II (TVAI) trades at 36.6x sales, its market capitalization divided by $7.8M revenue, trailing 12 months to June 30, 2026. The market capitalization is $284.5M as of Oct 27, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Thayer Ventures Acquisition Corporation II (TVAI) has negative shareholder equity of -$8.2M 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.
Thayer Ventures Acquisition Corporation II (TVAI) has an Altman Z-Score of 0.75, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
Thayer Ventures Acquisition Corporation II (TVAI) has an earnings quality ratio of 0.16x, 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.