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ALCY

Alchemy Investments Acquisition Corp 1

ALCY

Alchemy Investments Acquisition Corp 1 • NASDAQ
$11.70 ▼ -1.68% (-0.20)
Market Cap $49.23 M
52w High $13.14
52w Low $10.25
Dividend Yield 0%
P/E 585
Volume 79
Outstanding Shares 4.52M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $0 ▼ $-341.897K ▼ 0% $-0.08 ▼ $0 ▲
Q2-2025 $0 $321.051K ▼ $-220.257K ▲ 0% $-0.049 ▲ $-192.007K ▲
Q1-2025 $0 ▼ $401.439K ▼ $-301K ▼ 0% ▼ $-0.067 ▼ $-273K ▼
Q4-2024 $1.202M ▲ $443.016K ▲ $63.925K ▼ 5.317% ▲ $0.012 ▼ $91.902K ▲
Q3-2024 $0 $158.154K $1.456M 0% $0.13 $-158K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $319.258K ▲ $9.025M ▼ $8.586M ▲ $-8.124M ▼
Q2-2025 $161.205K ▼ $12.503M ▲ $7.931M ▲ $4.572M ▼
Q1-2025 $351.999K ▲ $12.495M ▲ $7.703M ▲ $4.792M ▼
Q4-2024 $181.174K ▼ $12.098M ▼ $7.005M ▲ $5.094M ▲
Q3-2024 $339.638K $125.905M $6.517M $-5.953M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2025 $-301.497K ▼ $-429.175K ▼ $0 ▼ $600K ▲ $170.825K ▲ $-429.175K ▼
Q4-2024 $63.925K ▼ $-158.464K ▲ $114.358M ▲ $-114.358M ▼ $-158.464K ▲ $-158.464K ▲
Q3-2024 $1.456M ▲ $-232.758K ▼ $0 $0 ▼ $-232.758K ▼ $-232.758K ▼
Q2-2024 $1.314M ▼ $-86.815K ▲ $0 $530K ▲ $443.186K ▲ $-86.815K ▲
Q1-2024 $1.414M $-180.531K $0 $0 $-180.531K $-180.531K

Five-Year Company Overview

Income Statement

Income Statement Alchemy is still a SPAC “shell,” so its income statement is largely an accounting formality at this stage. It has essentially no operating revenue, no cost of goods, and no real operating activity. The reported earnings per share are mainly driven by one‑off SPAC accounting effects, not by a running business. In practical terms, there is no current operating profitability to analyze; the real future income profile will depend on Cartiga once the merger closes.

Balance Sheet

Balance Sheet The balance sheet is very light, reflecting a shell company with only a small amount of recorded assets and equity, and no meaningful debt. Most of the economic substance of a SPAC usually sits in the trust account and is handled in a way that doesn’t show up like a normal operating company’s balance sheet. For now, Alchemy does not have a complex capital structure or heavy leverage, but it also does not own an operating business yet. Post‑merger, the balance sheet will effectively become Cartiga’s, which may look very different from this pre‑deal snapshot.

Cash Flow

Cash Flow Cash flows are essentially flat, with no real operating, investing, or financing flows beyond routine SPAC activities. There is no underlying business generating cash, so the current cash flow statement provides very little insight into long‑term performance. The meaningful cash dynamics—cash generation from litigation finance assets, funding needs, and capital deployment—will only become visible once Cartiga is consolidated and operating as a public company.

Competitive Edge

Competitive Edge The competitive story is really about Cartiga, the litigation finance platform Alchemy is merging with. Cartiga operates in a niche financial segment, providing funding tied to legal cases. Its edge appears to come from a deep, proprietary data set on hundreds of thousands of past fundings, long-standing relationships with law firms, and control over the entire lifecycle of these investments. This combination of data, expertise, and deal flow can form a meaningful barrier to entry. However, litigation finance is still a specialized and evolving field, with competition from other alternative asset managers and ongoing legal and regulatory uncertainty that could influence profitability and growth over time.

Innovation and R&D

Innovation and R&D Cartiga has invested heavily in building technology rather than in traditional “lab-style” R&D. Its core innovation is a data and analytics platform that attempts to turn what used to be judgment-based case selection into a more systematic, model-driven process. The firm uses this system to assess risk, monitor funded cases, and manage its portfolio, and is working on machine learning tools to speed up origination and improve decision quality. This technology and its large proprietary database function as both a productivity tool and a competitive moat. The key questions going forward are whether these tools truly translate into better risk-adjusted outcomes and whether Cartiga can continue to enhance its platform faster than peers.

Summary

Alchemy today is a blank-check vehicle with almost no operating activity, so its historical financial statements mainly reflect SPAC mechanics rather than business performance. The real story is the planned combination with Cartiga, a data-driven litigation finance platform. Cartiga brings a sizable historical track record, a large proprietary data set, and a technology-enabled underwriting and monitoring system that could offer a competitive edge in a niche, less-crowded segment of financial services. At the same time, the business is exposed to case outcome risk, legal and regulatory shifts, and execution risk around scaling and acquisitions. Until the merger is completed and Cartiga’s full financials are available as a public company, analysis of ALCY’s performance and prospects will necessarily involve a high degree of uncertainty and reliance on forward-looking assumptions about Cartiga’s model and the litigation finance market.