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ATMC

AlphaTime Acquisition Corp

ATMC

AlphaTime Acquisition Corp • NASDAQ
$12.06 ▼ -2.53% (-0.31)
Market Cap $41.85 M
52w High $13.74
52w Low $11.31
Dividend Yield 0%
P/E 150.77
Volume 5.07K
Outstanding Shares 3.47M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $0 ▼ $165.713K ▲ 0% $-0.01 ▲ $0 ▲
Q2-2025 $0 $290.004K ▲ $-127.315K ▼ 0% $-0.037 ▼ $-290.004K ▼
Q1-2025 $0 ▼ $183.402K ▼ $117.969K ▼ 0% ▼ $0.017 ▼ $143.864K ▼
Q4-2024 $1.831M ▲ $420.613K ▲ $266.589K ▼ 14.56% ▲ $0.039 ▼ $2.743M ▲
Q3-2024 $0 $280.163K $404.367K 0% $0.059 $-280K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.281K ▼ $16.051M ▲ $6.384M ▲ $-6.357M ▼
Q2-2025 $1.329K ▼ $15.861M ▲ $6.36M ▲ $9.501M ▼
Q1-2025 $1.377K ▼ $15.673M ▲ $6.045M ▲ $9.628M ▲
Q4-2024 $1.425K ▼ $15.257M ▼ $5.747M ▲ $9.511M ▲
Q3-2024 $1.473K $53.381M $5.284M $-5.251M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $132.658K ▲ $-5.067K ▼ $38.747M ▲ $-38.742M ▼ $-48 ▲ $-5.067K ▼
Q2-2025 $-94.26K ▼ $104.931K ▲ $-38.847M ▼ $38.742M ▲ $-96 ▼ $104.931K ▲
Q1-2025 $117.969K ▲ $54.931K ▲ $-54.979K ▼ $0 ▲ $-48 $54.931K ▲
Q4-2024 $84.914K ▼ $-48 ▼ $38.742M ▲ $-38.742M ▼ $-48 ▼ $-48 ▼
Q3-2024 $404.367K $5.625K $-5.189M $5.184M $0 $5.623K

Five-Year Company Overview

Income Statement

Income Statement ATMC’s income statement reflects a typical SPAC structure: it has essentially no operating revenue or operating profit because it is a blank‑check company, not a running business. The small positive earnings per share recently are likely from interest and accounting items, not from any real commercial activity. For meaningful ongoing earnings power, the focus has to shift to HCYC’s results once the merger closes, since that is where the actual business sits.

Balance Sheet

Balance Sheet The reported balance sheet is very light, with modest assets and equity and no visible debt, which is common for a SPAC that has not yet completed its business combination. Most of the economic substance usually sits in a trust account and does not show up like a normal operating company’s assets. Overall, the current balance sheet tells us ATMC is still just a financial shell; the real balance sheet risk and strength will come from HCYC after the transaction, including its cash position, liabilities, and regulatory capital needs.

Cash Flow

Cash Flow Cash flow data is effectively blank, which again is consistent with a SPAC that has not been running an operating business. There is no evidence yet of cash generation, reinvestment, or capital intensity from these figures. Investors will need to rely on HCYC’s standalone filings and, later, combined-company reports to understand whether the post‑merger entity can consistently generate cash from its brokerage and advisory activities.

Competitive Edge

Competitive Edge ATMC on its own has no commercial competitive position; it is simply a vehicle to take another company public. Post‑merger, the story is about HCYC: an established Hong Kong insurance brokerage with long-standing relationships with major global insurers, a combined offering of insurance, wealth management and consulting services, and experience in a growing Asian market. Its strengths appear to be local knowledge, partner network, and advisory focus, but it also faces intense competition, regulatory oversight, and some concentration risk from relying heavily on a small number of insurance partners and policy flows.

Innovation and R&D

Innovation and R&D ATMC itself does not have meaningful innovation or research activity, as is standard for a SPAC. HCYC, the merger target, leans more on using and integrating partners’ technologies than on building its own deeply proprietary platforms. Its “innovation” today seems to be about packaging insurance, wealth management and advisory services in a more integrated, tech‑enabled way rather than pure tech invention. The upside would come if it gradually invests in more of its own insurance‑technology tools and data capabilities; until that happens, its technological edge is more incremental than transformative.

Summary

Right now, ATMC is best viewed as an empty financial shell with minimal operations, very simple financial statements, and no standalone business model. The key question is the quality and growth potential of HCYC, the Hong Kong insurance broker it plans to merge with. HCYC brings established relationships with major insurers, a broad advisory offering, and exposure to a structurally growing Asian insurance and wealth market. At the same time, recent disclosures flag financial pressures, reliance on a few partners, and the usual competitive and regulatory challenges in insurance distribution. The investment narrative will depend far more on how HCYC executes post‑merger—its ability to grow policy volumes, diversify revenue, maintain partnerships, and potentially deepen its own technology—than on anything visible in ATMC’s current pre‑deal numbers.