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ATMCU

AlphaTime Acquisition Corp

ATMCU

AlphaTime Acquisition Corp • NASDAQ
$12.00 ▼ -2.99% (-0.37)
Market Cap $108.41 M
52w High $14.29
52w Low $11.31
Dividend Yield 0%
P/E 0
Volume 994
Outstanding Shares 9.03M

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 AlphaTime is a typical SPAC, so its income statement is largely empty: it has no real operating business, no recurring revenue, and only small items like administrative costs and interest on its cash pool. The reported earnings per share mainly reflect financial mechanics around the SPAC structure rather than the performance of an underlying business. Because of this, past income figures for AlphaTime tell very little about how the combined company with HCYC might perform once the merger is completed. The key point: there is effectively no operating track record to analyze yet.

Balance Sheet

Balance Sheet The balance sheet is very small and simple, showing modest assets and equity and essentially no debt. This is consistent with a cash-shell SPAC that is holding funds to complete a merger rather than running a full operating company. The capital structure appears light on leverage, but also very thin in absolute scale, which makes future results highly sensitive to what happens with the merger and any redemptions of SPAC shares. Overall, the current balance sheet is more a temporary staging area for the deal than a reflection of a mature business.

Cash Flow

Cash Flow Cash flow information is minimal and not very informative, which again is typical for a SPAC. There is no ongoing operating cash inflow because there is no active business selling products or services. Most meaningful cash movements for a vehicle like this occur around the IPO, trust funding, deal expenses, and eventual merger closing, none of which give a clear picture of the future combined entity’s ability to generate cash. In practice, investors will need to look to HCYC’s standalone cash-generation profile once detailed post-merger financials become available.

Competitive Edge

Competitive Edge As a standalone entity, AlphaTime has no real competitive position; it is simply a pool of capital. The competitive story really begins and ends with HCYC, the Hong Kong insurance brokerage it plans to merge with. HCYC appears to have an established presence, regulatory licensing, and long-standing relationships with major global and regional insurers, which gives it credibility and access to a broad range of products. Its niche focus on serving both local clients and visitors from Mainland China could be an advantage in a growing, cross-border insurance market, but it still faces competition from other brokers and direct channels from large insurers.

Innovation and R&D

Innovation and R&D AlphaTime itself does not run products, services, or research programs; its role is purely financial. Innovation sits with HCYC, which leans more on strategic partnerships and technology platforms provided by major insurers than on building its own heavy in-house systems. This partnership-centric model lets HCYC offer sophisticated products and tailored advice without large upfront technology spending, but it also means it is somewhat dependent on partners’ systems and product design. Over time, any move by HCYC to build more of its own digital tools or exclusive products could deepen its differentiation, though that would require more investment and execution capability.

Summary

Overall, AlphaTime looks like a straightforward SPAC in transition rather than an operating business, so its historical financials are mostly a formality and offer limited insight into future performance. The real substance lies in HCYC: a long-standing Hong Kong insurance broker operating in a structurally attractive but competitive and regulated market, supported by strong carrier partnerships and a focus on customized, higher-touch advisory services. The main potential strengths are the growth of the Hong Kong and cross-border insurance market, HCYC’s licensing and experience, and its access to a wide menu of products through major insurers. The main risks revolve around the merger actually closing as planned, any large redemptions or deal restructuring, regulatory and political changes affecting Hong Kong and Mainland Chinese customer flows, competitive pressure from other brokers and digital platforms, and the company’s ability to scale while maintaining service quality. In short, this is less a story about current numbers and more a story about whether a relatively specialized broker can successfully use public-market capital to grow in a dynamic but sometimes volatile regional insurance market.