Armada Acquisition Corp. II (XRPN) 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 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q3 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 XRPN SEC filings page.
This page shows Armada Acquisition Corp. II (XRPN) 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).
The reported numbers describe a transaction vehicle funded by capital inflows, with liabilities exceeding assets and little operating activity.
Although FY2025 showed reported net income of$1.8M , operating income was a loss of$1.7M , indicating the bottom line was not produced by ordinary operating activity. The near-match between financing inflows and investing outflows, alongside an asset base of$235.2M , fits a vehicle holding transaction-related assets rather than operating through sales.
The balance sheet is structurally thin:
Short-term resources were also below short-term obligations:
Financial Health Signals
Armada Acquisition Corp. 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.
For every $1 of reported earnings, Armada Acquisition Corp. II used $0.20 of operating cash (-$349K OCF vs $1.8M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Armada Acquisition Corp. II reported $1.6M in net income in Q3 2026. This represents an increase of 83.2% from the same quarter a year earlier. Against the prior quarter it is up 43.7%.
Not reported for Q3 2026.
Not reported for Q3 2026.
Not reported for Q3 2026.
Cash & Balance Sheet
Armada Acquisition Corp. II held $55K in cash as of Q3 2026; long-term debt is not reported for that period.
Not reported for Q3 2026.
Not reported for Q3 2026.
Margins & Returns
None of these metrics is reported for Q3 2026.
Capital Allocation
None of these metrics is reported for Q3 2026.
XRPN 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.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, EBITDA, Interest Expense, Income Tax, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
XRPN 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 | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q |
|---|---|---|---|---|---|---|---|
| Total Assets | $241.3M+3.6% | $239.3M | $237.4M | $235.2M | $232.9M | N/A | N/A |
| Current Assets | $178K-75.1% | $272K | $446K | $549K | $716K | N/A | N/A |
| Cash & Equivalents | $55K-88.6% | $89K+23537.3% | $287K | $361K | $480K | $375 | $0 |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $255.9M+6.0% | $253.3M | $250.4M | $245.3M | $241.5M | N/A | N/A |
| Current Liabilities | $5.5M+3459.7% | $5.1M | $4.3M | $1.5M | $154K | N/A | N/A |
| Non-Current Liabilities | $250.4M+3.8% | $248.3M | $246.2M | $243.9M | $241.3M | N/A | N/A |
| Total Equity | -$14.5M-69.3% | -$14.0M-65158.1% | -$13.1M-62689.7% | -$10.1M | -$8.6M | -$21K | -$21K |
| Retained Earnings | -$14.5M-69.3% | -$14.0M | -$13.1M | -$10.1M | -$8.6M | N/A | N/A |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
XRPN 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, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
XRPN 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, Asset Turnover, FCF Margin.
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.
Note: The current ratio is below 1.0 (0.37), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Where Armada Acquisition Corp. II Ranks
Frequently Asked Questions
Is Armada Acquisition Corp. II profitable?
Yes, Armada Acquisition Corp. II (XRPN) reported a net income of $1.8M in fiscal year 2025.
What is Armada Acquisition Corp. II's operating cash flow?
Armada Acquisition Corp. II (XRPN) recorded an outflow of $349K in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Armada Acquisition Corp. II's total assets?
Armada Acquisition Corp. II (XRPN) had $235.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Armada Acquisition Corp. II's current ratio?
Armada Acquisition Corp. II (XRPN) had a current ratio of 0.37 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Armada Acquisition Corp. II's return on assets (ROA)?
Armada Acquisition Corp. II (XRPN) had a return on assets of 0.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Armada Acquisition Corp. II's P/E ratio?
Armada Acquisition Corp. II (XRPN) trades at 305x earnings, its market capitalization divided by net income of $1.8M net income, FY2025. The market capitalization is $539.9M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Armada Acquisition Corp. II's price-to-sales ratio?
Armada Acquisition Corp. II (XRPN) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $539.9M as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Armada Acquisition Corp. II's debt-to-equity ratio negative or not reported?
Armada Acquisition Corp. II (XRPN) has negative shareholder equity of -$10.1M as of fiscal year 2025, so no debt-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.
Are Armada Acquisition Corp. II's earnings high quality?
For every $1 of reported earnings, Armada Acquisition Corp. II (XRPN) used $0.20 of operating cash (-$349K OCF vs $1.8M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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.