AXAC
AXAC
AXIOS Sustainable Growth Acquisition CorporationIncome Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q3-2022 | $0 | $720.84K ▼ | $929.85K ▲ | 0% | $0.04 ▲ | $-720.84K ▲ |
| Q2-2022 | $0 | $736.58K ▼ | $-1.92M ▼ | 0% | $-0.09 ▼ | $-879.85K ▲ |
| Q1-2022 | $0 | $1.12M | $-977.66K | 0% | $-0.08 | $-1.19M |
What's going well?
The company managed to report a profit this quarter, reversing last quarter's big loss. Expenses are slightly lower, and there was a large boost from non-operating income.
What's concerning?
There is still no revenue, and the core business is losing money. The profit is entirely due to a one-off gain, not from any improvement in the actual business.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2022 | $233.76K ▼ | $177.66M ▲ | $1.18M ▼ | $176.49M ▲ |
| Q2-2022 | $887.96K ▼ | $177.57M ▼ | $1.2M ▲ | $176.37M ▼ |
| Q1-2022 | $1.42M | $178.03M | $1.07M | $176.96M |
What's financially strong about this company?
The company has an enormous equity cushion and almost no debt, so there's little risk of bankruptcy. Asset quality is solid with no goodwill or intangibles that could be written down.
What are the financial risks or weaknesses?
Cash is very low compared to near-term bills, and current assets can't cover current liabilities. Liquidity is getting worse, and retained earnings are negative, showing a history of losses.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q3-2022 | $115.9K ▲ | $-458.19K ▲ | $0 | $-196K ▼ | $-654.19K ▼ | $-458.19K ▲ |
| Q2-2022 | $-593.32K ▲ | $-528.84K ▲ | $0 ▲ | $0 ▼ | $-528.84K ▼ | $-528.84K ▲ |
| Q1-2022 | $-1.05M | $-1.53M | $-175.95M | $178.9M | $1.42M | $-1.53M |
What's strong about this company's cash flow?
Cash burn slowed a bit this quarter, and working capital changes helped offset losses. No new debt or dilution occurred.
What are the cash flow concerns?
Cash flow is deeply negative, cash reserves are nearly gone, and no meaningful profits are turning into cash. The company is at risk of running out of money soon.
About AXIOS Sustainable Growth Acquisition Corporation
https://spac.axios.agAXIOS Sustainable Growth Acquisition Corporation focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses. It intends to focus its search for a target business engaged in the agriculture, plant-based proteins, and related technology industry in Eastern Europe.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q3-2022 | $0 | $720.84K ▼ | $929.85K ▲ | 0% | $0.04 ▲ | $-720.84K ▲ |
| Q2-2022 | $0 | $736.58K ▼ | $-1.92M ▼ | 0% | $-0.09 ▼ | $-879.85K ▲ |
| Q1-2022 | $0 | $1.12M | $-977.66K | 0% | $-0.08 | $-1.19M |
What's going well?
The company managed to report a profit this quarter, reversing last quarter's big loss. Expenses are slightly lower, and there was a large boost from non-operating income.
What's concerning?
There is still no revenue, and the core business is losing money. The profit is entirely due to a one-off gain, not from any improvement in the actual business.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2022 | $233.76K ▼ | $177.66M ▲ | $1.18M ▼ | $176.49M ▲ |
| Q2-2022 | $887.96K ▼ | $177.57M ▼ | $1.2M ▲ | $176.37M ▼ |
| Q1-2022 | $1.42M | $178.03M | $1.07M | $176.96M |
What's financially strong about this company?
The company has an enormous equity cushion and almost no debt, so there's little risk of bankruptcy. Asset quality is solid with no goodwill or intangibles that could be written down.
What are the financial risks or weaknesses?
Cash is very low compared to near-term bills, and current assets can't cover current liabilities. Liquidity is getting worse, and retained earnings are negative, showing a history of losses.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q3-2022 | $115.9K ▲ | $-458.19K ▲ | $0 | $-196K ▼ | $-654.19K ▼ | $-458.19K ▲ |
| Q2-2022 | $-593.32K ▲ | $-528.84K ▲ | $0 ▲ | $0 ▼ | $-528.84K ▼ | $-528.84K ▲ |
| Q1-2022 | $-1.05M | $-1.53M | $-175.95M | $178.9M | $1.42M | $-1.53M |
What's strong about this company's cash flow?
Cash burn slowed a bit this quarter, and working capital changes helped offset losses. No new debt or dilution occurred.
What are the cash flow concerns?
Cash flow is deeply negative, cash reserves are nearly gone, and no meaningful profits are turning into cash. The company is at risk of running out of money soon.
CEO
Benedikt E. Fortig