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BNIXW

Bannix Acquisition Corp.

BNIXW

Bannix Acquisition Corp. • NASDAQ
$0.04 ▼ -4.56% (-0.00)
Market Cap $120617
52w High $0.07
52w Low $0.04
Dividend Yield 0%
P/E 0
Volume 263
Outstanding Shares 2.74M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2025 $0 ▼ $347.37K ▼ $-427K ▲ 0% ▲ $-0.11 ▲ $-313K ▼
Q4-2024 $2.035M ▲ $768.454K ▲ $-535K ▼ -26.29% ▼ $-0.14 ▼ $532.867K ▲
Q3-2024 $0 $248.848K ▼ $-155K ▼ 0% $-0.04 ▼ $-249K ▼
Q2-2024 $0 $348.402K ▼ $-153K ▼ 0% $-0.037 ▼ $-144K ▼
Q1-2024 $0 $420.052K $-28.219K 0% $-0.005 $-28.219K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2025 $19.189K ▲ $1.171M ▼ $6.097M ▲ $-4.926M ▼
Q4-2024 $9.754K ▼ $3.763M ▼ $5.662M ▲ $-1.899M ▼
Q3-2024 $271.833K ▲ $3.94M ▼ $5.304M ▲ $-1.364M ▼
Q2-2024 $29.694K ▼ $17.411M ▼ $4.692M ▲ $12.719M ▼
Q1-2024 $362.181K $17.467M $4.595M $12.872M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2025 $-427.465K ▲ $-204.706K ▲ $2.63M ▲ $-2.416M ▼ $9.435K ▲ $-204.706K ▲
Q4-2024 $-534.516K ▼ $-276.476K ▼ $-48.713K ▼ $63.11K ▲ $-262.079K ▼ $-276.476K ▲
Q3-2024 $-154.697K ▼ $-165.967K ▲ $13.89M ▲ $-13.482M ▼ $242.139K ▲ $-423.454K ▼
Q2-2024 $-153.103K ▼ $-257.487K ▼ $-75K ▼ $0 ▲ $-332.487K ▼ $-257.487K ▼
Q1-2024 $-28.219K $-162.171K $15.382M $-15.089M $129.903K $-162.171K

Five-Year Company Overview

Income Statement

Income Statement The historical income statement is essentially that of a blank-check SPAC, not an operating business. It shows no real revenue and only small per‑share gains or losses tied mainly to SPAC mechanics and deal costs, not to selling products or services. Looking forward, meaningful revenue, margins, and profitability will depend entirely on how well the merged operating company, VisionWave Holdings, can win and execute defense and security contracts. Until VisionWave reports standalone results, past figures for Bannix give almost no insight into the future earnings power behind BNIXW.

Balance Sheet

Balance Sheet The balance sheet history reflects a small shell company that held modest assets and equity, mainly cash associated with the SPAC structure, with no visible debt and no operating assets like factories or large equipment. That profile will change as VisionWave’s balance sheet replaces the old Bannix numbers. Key questions going forward will be: how much cash VisionWave has to fund development and contracts, whether it takes on meaningful debt, and how quickly it builds up tangible and intangible assets such as equipment, inventory, and patents. Right now, the legacy figures mostly show a clean but minimal starting point rather than a mature, capital-heavy defense business.

Cash Flow

Cash Flow Reported cash flow is effectively a flat picture of a non‑operating SPAC: no real operating inflows from customers, no capital spending, and no meaningful free cash flow history. This means there is no track record yet of VisionWave’s ability to turn its technology and contracts into steady cash generation. Future cash flow quality will hinge on the timing of defense orders, milestone payments, and the company’s discipline on spending for engineering, manufacturing, and acquisitions. Until VisionWave provides its own cash flow statements, the legacy data mainly signal that investors are dealing with an early, pre‑scale stage story.

Competitive Edge

Competitive Edge VisionWave enters the defense technology space with a clear focus on AI at the “edge” and autonomous systems, which aligns with major long‑term trends in military and homeland security. Its proprietary AI platform and patented radio‑frequency sensing technology give it a differentiated angle versus more traditional hardware‑centric defense players. However, it is operating in a highly competitive field dominated by large, well‑funded contractors with deep customer relationships and long procurement cycles. VisionWave’s position will depend on how convincingly it can demonstrate performance advantages, integrate with big prime contractors, and convert pilot projects and demonstrations into recurring, large‑scale programs.

Innovation and R&D

Innovation and R&D Innovation is the core of the VisionWave story. The company’s Evolved Intelligence platform is designed to put AI directly on vehicles, sensors, and weapon systems so they can make fast decisions without relying on constant connectivity. The technology suite includes through‑wall and adverse‑condition sensing, autonomous ground systems, and counter‑drone capabilities, all protected by a growing patent portfolio. VisionWave is also pursuing partnerships, joint ventures, and acquisitions—such as drone platforms and space‑oriented collaborations—to broaden its technology base and applications. Overall, this is an R&D‑heavy, IP‑driven model where success will be judged by how quickly cutting‑edge prototypes turn into fielded products and long‑term contracts.

Summary

BNIXW now represents warrants tied to VisionWave Holdings, a company transitioning from a cash shell to an AI‑driven defense technology platform. The historical financials mostly show a clean SPAC structure with no operating revenue, so they offer little guidance on future earnings or cash generation. The real story is forward‑looking: VisionWave is betting on advanced AI, autonomous systems, and specialized sensing to carve out a niche in a complex, heavily regulated, and highly competitive defense market. Its strengths are in innovation, patents, and strategic partnerships; its main risks are execution, contract wins, and the challenge of scaling from promising technology to reliable, long‑term defense and security revenue streams.