EUREKA ACQUISITION CORP FORM 10-Q FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2026
EUREKA ACQUISITION CORP FORM 10-Q FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2026
Eureka Acquisition Corp. (the “Company”) filed its quarterly report for the period ended June 30, 2026. The Company reported a net loss of $1.4 million for the three months ended June 30, 2026, compared to a net loss of $1.1 million for the same period in 2025. As of June 30, 2026, the Company had cash and cash equivalents of $14.4 million, compared to $15.4 million as of September 30, 2025. The Company’s condensed consolidated balance sheet as of June 30, 2026, showed total assets of $15.4 million, total liabilities of $1.4 million, and total shareholders’ (deficit) equity of $14.0 million. The Company’s unaudited condensed consolidated statements of operations for the nine months ended June 30, 2026, showed total revenue of $0.1 million and total expenses of $3.4 million, resulting in a net loss of $3.3 million.
Summary and Analysis of Eureka Acquisition Corp. Financial Report
Overview Eureka Acquisition Corp. is a blank check company formed in the Cayman Islands on June 13, 2023. The company’s purpose is to enter into a merger, share exchange, asset acquisition, share purchase, recapitalization, or similar business combination with one or more businesses or entities. As of June 30, 2026, the company has not generated any revenue and has incurred losses since inception from operating costs. The company has relied on the working capital available from its initial public offering (IPO) and private placement, as well as funds loaned by its sponsor, to fund its operations.
Key Financial Highlights
| Metric | Q3 2026 | Q3 2025 |
|---|---|---|
| Net Income | $79,232 | $354,378 |
| Interest Income from Trust Account | $278,500 | $605,749 |
| General and Administrative Expenses | $199,268 | $251,371 |
| Metric | 9M 2026 | 9M 2025 |
|---|---|---|
| Net Income | $110,299 | $1,304,272 |
| Interest Income from Trust Account | $850,709 | $1,894,408 |
| General and Administrative Expenses | $740,410 | $590,136 |
| Cash Used in Operating Activities | $553,704 | $396,178 |
As shown in the tables, Eureka Acquisition Corp. has generated net income in both the third quarter and first nine months of 2026, primarily due to interest income from the trust account. However, the company’s net income has declined compared to the same periods in 2025, driven by lower interest income and higher general and administrative expenses.
Strengths and Weaknesses
Strengths:
- The company has a significant amount of cash in its trust account, which can be used to fund a future business combination.
- The company has extended the deadline to complete a business combination until July 3, 2027, providing more time to find a suitable target.
- The company has secured additional financing through extension notes to fund its operations and potential business combination.
Weaknesses:
- The company has not yet identified a suitable target for a business combination, and there is no guarantee it will be able to do so within the extended deadline.
- The company has a working capital deficit and has incurred significant costs in pursuit of its financing and acquisition plans, which raises substantial doubt about its ability to continue as a going concern.
- The company’s shares are currently not in compliance with the Nasdaq’s minimum public holders rule, which could lead to delisting if not resolved.
Outlook and Future Considerations
The company’s ability to continue as a going concern is dependent on its successful completion of a business combination within the extended deadline. If the company is unable to do so, it will be required to cease operations and liquidate. The company is actively seeking a suitable target and has secured additional financing to fund its operations, but there is no assurance that it will be able to complete a transaction. Investors should closely monitor the company’s progress and be aware of the significant risks and uncertainties associated with its business model.