VALUENCE MERGER CORP I Financials

VMCUF

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows VALUENCE MERGER CORP I (VMCUF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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).

Financial Health Signals

Piotroski F-Score Weak

2/9

VALUENCE MERGER 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

-0.40x

For every $1 of reported earnings, VALUENCE MERGER CORP I generates $-0.40 in operating cash flow (-$950K OCF vs $2.4M 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

$2.4M

YoY-49.6%

VALUENCE MERGER CORP I reported $2.4M in net income in fiscal year 2024. This represents a decrease of 49.6% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$61K

YoY-91.1%

VALUENCE MERGER CORP I held $61K in cash against $0 in long-term debt as of fiscal year 2024.

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

$49.9M

YoY-70.3%

VALUENCE MERGER CORP I spent $49.9M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 70.3% from the prior year.

Capital Expenditures

N/A

VMCUF Income Statement

Metric	FY24	FY23	FY22
Revenue	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A
SG&A Expenses	$1.1M-19.3%	$1.4M-46.8%	$2.6M
Operating Income	$483K+134.7%	-$1.4M+46.8%	-$2.6M
Interest Expense	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A
Net Income	$2.4M-49.6%	$4.8M+656.7%	$631K
EPS (Diluted)	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
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	$82K-34.9%	$127K-54.4%	$277K	N/A	$203K-56.4%	$466K+80.9%	$257K	N/A
Operating Income	-$32K+75.1%	-$127K+19.0%	-$156K	N/A	-$203K+56.4%	-$466K-80.9%	-$257K	N/A
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	$156K+166.1%	$59K+135.1%	$25K	N/A	$35K-79.2%	$169K-71.3%	$589K	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

VMCUF Balance Sheet

Metric	FY24	FY23	FY22
Total Assets	$22.3M-68.2%	$70.2M-69.6%	$230.8M
Current Assets	$110K-85.6%	$763K-9.4%	$842K
Cash & Equivalents	$61K-91.1%	$685K+114.5%	$319K
Inventory	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A
Total Liabilities	$34.7M-57.8%	$82.1M-65.9%	$240.3M
Current Liabilities	$4.3M-7.5%	$4.7M+107.8%	$2.3M
Long-Term Debt	N/A	N/A	N/A
Total Equity	-$12.3M-3.7%	-$11.9M-24.9%	-$9.5M
Retained Earnings	-$12.3M-3.7%	-$11.9M-24.9%	-$9.5M

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$23.1M+0.9%	$22.9M+1.5%	$22.5M+0.9%	$22.3M+1.3%	$22.0M+1.4%	$21.7M-69.3%	$70.8M+0.9%	$70.2M
Current Assets	$68K-50.5%	$138K+98.9%	$69K-36.8%	$110K+5.5%	$104K-20.8%	$131K-17.4%	$159K-79.2%	$763K
Cash & Equivalents	$43K-53.4%	$93K+33.9%	$69K+13.4%	$61K+292.8%	$16K-22.7%	$20K-19.6%	$25K-96.3%	$685K
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	$35.9M+0.9%	$35.6M+1.6%	$35.1M+1.2%	$34.7M-2.9%	$35.7M+1.7%	$35.1M-57.9%	$83.4M+1.6%	$82.1M
Current Liabilities	$4.8M+1.0%	$4.8M+6.2%	$4.5M+4.0%	$4.3M-23.3%	$5.7M+4.8%	$5.4M+13.3%	$4.8M+1.6%	$4.7M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$12.9M-0.9%	-$12.8M-1.7%	-$12.5M-1.7%	-$12.3M+9.7%	-$13.7M-2.1%	-$13.4M-6.4%	-$12.6M-5.7%	-$11.9M
Retained Earnings	-$12.9M-0.9%	-$12.8M-1.7%	-$12.5M-1.7%	-$12.3M+9.7%	-$13.7M-2.1%	-$13.4M-6.4%	-$12.6M-5.7%	-$11.9M

VMCUF Cash Flow Statement

Metric	FY24	FY23	FY22
Operating Cash Flow	-$950K-34.0%	-$709K+38.4%	-$1.1M
Capital Expenditures	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A
Investing Cash Flow	$49.1M-70.5%	$166.7M+173.5%	-$226.7M
Financing Cash Flow	-$48.8M+70.5%	-$165.6M-172.7%	$228.0M
Dividends Paid	N/A	N/A	N/A
Share Buybacks	$49.9M-70.3%	$167.8M	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	-$70K+50.6%	-$143K-13.3%	-$126K+50.7%	-$255K-45.5%	-$176K+37.1%	-$279K-16.3%	-$240K-28.8%	-$186K
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	-$84K0.0%	-$84K-50.0%	-$56K+33.3%	-$84K0.0%	-$84K-100.2%	$49.7M+11934.4%	-$420K+25.0%	-$560K
Financing Cash Flow	$105K-58.0%	$250K+31.6%	$190K-50.6%	$385K+51.0%	$255K	N/A	N/A	$806K
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	$0	$0-100.0%	$49.9M	N/A	$0

VMCUF Financial Ratios

Metric	FY24	FY23	FY22
Gross Margin	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A
Return on Assets	10.8%+4.0pp	6.8%+6.5pp	0.3%
Current Ratio	0.03-0.1	0.16-0.2	0.37
Debt-to-Equity	-2.81+4.1	-6.90+18.3	-25.24
FCF Margin	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
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	0.7%+0.4pp	0.3%+0.1pp	0.1%	N/A	0.2%-0.6pp	0.8%-0.1pp	0.8%	N/A
Current Ratio	0.01-0.0	0.03+0.0	0.020.0	0.030.0	0.020.0	0.020.0	0.03-0.1	0.16
Debt-to-Equity	-2.790.0	-2.790.0	-2.79+0.0	-2.81-0.2	-2.61+0.0	-2.62+4.0	-6.63+0.3	-6.90
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: Shareholder equity is negative (-$12.3M), 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 (0.03), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Frequently Asked Questions

Is VALUENCE MERGER CORP I profitable?

Yes, VALUENCE MERGER CORP I (VMCUF) reported a net income of $2.4M in fiscal year 2024.

What is VALUENCE MERGER CORP I's operating cash flow?

VALUENCE MERGER CORP I (VMCUF) generated -$950K in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are VALUENCE MERGER CORP I's total assets?

VALUENCE MERGER CORP I (VMCUF) had $22.3M in total assets as of fiscal year 2024, including both current and long-term assets.

Does VALUENCE MERGER CORP I buy back shares?

Yes, VALUENCE MERGER CORP I (VMCUF) spent $49.9M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

What is VALUENCE MERGER CORP I's current ratio?

VALUENCE MERGER CORP I (VMCUF) had a current ratio of 0.03 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is VALUENCE MERGER CORP I's debt-to-equity ratio?

VALUENCE MERGER CORP I (VMCUF) had a debt-to-equity ratio of -2.81 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is VALUENCE MERGER CORP I's return on assets (ROA)?

VALUENCE MERGER CORP I (VMCUF) had a return on assets of 10.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is VALUENCE MERGER CORP I's cash runway?

Based on fiscal year 2024 data, VALUENCE MERGER CORP I (VMCUF) had $61K in cash against an annual operating cash burn of $950K. 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 VALUENCE MERGER CORP I's debt-to-equity ratio negative or unusual?

VALUENCE MERGER CORP I (VMCUF) has negative shareholder equity of -$12.3M as of fiscal year 2024, 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 VALUENCE MERGER CORP I's Piotroski F-Score?

VALUENCE MERGER CORP I (VMCUF) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are VALUENCE MERGER CORP I's earnings high quality?

VALUENCE MERGER CORP I (VMCUF) has an earnings quality ratio of -0.40x, 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.