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 for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, or similar business combination with one or more businesses or entities. The company currently has no revenue and has incurred losses since inception from formation and operating costs, relying 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 | 9M 2026 | 9M 2025 |
|---|---|---|---|---|
| Net Income | $79,232 | $354,378 | $110,299 | $1,304,272 |
| Interest Income from Trust Account | $278,500 | $605,749 | $850,709 | $1,894,408 |
| General & Administrative Expenses | $199,268 | $251,371 | $740,410 | $590,136 |
| Cash Used in Operating Activities | N/A | N/A | $553,704 | $396,178 |
| Changes in Operating Assets & Liabilities | N/A | N/A | $186,706 | $193,958 |
Analysis Eureka Acquisition Corp. has not generated any operating revenue to date, with its only income coming from interest earned on the funds held in its trust account. The company’s net income has declined significantly from 2025 to 2026, driven by a decrease in interest income and an increase in general and administrative expenses as it continues to search for a suitable acquisition target.
The company’s liquidity position is a concern, with only $22,727 in cash available as of June 30, 2026 and a working capital deficit of over $33 million, including a public shareholder redemption payable of $30.4 million. Management has stated that the company’s ability to continue as a going concern is dependent on completing a business combination within the required timeframe or obtaining additional financing, which is not currently guaranteed.
The company has also faced challenges in maintaining compliance with Nasdaq’s minimum public holder requirements, receiving a noncompliance notice in April 2026. While Nasdaq has granted the company an extension to regain compliance, this adds further uncertainty to the company’s future.
Outlook Eureka Acquisition Corp.’s ability to successfully complete a business combination within the required timeframe is crucial to its future. The company’s limited cash resources and the potential need for additional financing to fund its operations and a business combination raise significant going concern risks.
If the company is unable to find a suitable target and complete a transaction by the end of the combination period (August 3, 2026, or up to July 3, 2027 if fully extended), it will be required to cease operations and liquidate, returning any remaining funds to its public shareholders.
Overall, Eureka Acquisition Corp. faces significant challenges in its current financial position and ability to execute its business plan. Investors should closely monitor the company’s progress in identifying and completing a viable business combination before the expiration of the combination period.