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CCIX

Churchill Capital Corp IX Ordinary Shares

CCIX

Churchill Capital Corp IX Ordinary Shares • NASDAQ
$10.63 ▼ -0.09% (-0.01)
Market Cap $389.72 M
52w High $11.66
52w Low $10.21
Dividend Yield 0%
P/E 59.06
Volume 3.09K
Outstanding Shares 36.66M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $915.912K ▼ $2.323M ▲ 0% $0.06 ▲ $2.323M ▲
Q2-2025 $0 $2.339M ▲ $842.372K ▼ 0% $0.023 ▼ $-2.339M ▼
Q1-2025 $0 $283.455K ▲ $2.714M ▼ 0% $0.074 ▼ $2.714M ▲
Q4-2024 $0 $250.64K ▼ $3.291M ▼ 0% $0.09 ▼ $-250.64K ▲
Q3-2024 $0 $257.879K $3.562M 0% $0.1 $-257.879K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $178.774K ▼ $305.011M ▲ $10.144M ▼ $294.867M ▲
Q2-2025 $426.052K ▼ $303.151M ▲ $10.607M ▲ $292.543M ▲
Q1-2025 $2.22M ▼ $301.882M ▲ $10.18M ▲ $291.701M ▲
Q4-2024 $2.413M ▲ $299.124M ▲ $10.137M $288.987M ▲
Q3-2024 $1.549M $295.834M $10.137M $285.696M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.323M ▲ $-1.247M ▲ $1M ▲ $0 $-247.278K ▲ $-1.247M ▲
Q2-2025 $842.372K ▼ $-1.794M ▼ $0 $0 $-1.794M ▼ $-1.794M ▼
Q1-2025 $2.714M ▼ $-192.587K ▼ $0 ▼ $0 $-192.587K ▼ $-192.587K ▼
Q4-2024 $3.291M ▼ $-136.694K ▼ $1M ▲ $0 $863.306K ▲ $-136.694K ▼
Q3-2024 $3.562M $-121.994K $0 $0 $-121.994K $-121.994K

Five-Year Company Overview

Income Statement

Income Statement CCIX’s income statement is typical of a SPAC: it has no meaningful revenue and no underlying operating business. The tiny reported profit appears to come from financial or accounting items rather than from selling products or services. In practical terms, the current earnings tell you almost nothing about the future business, because the entire story depends on the planned merger with PlusAI, not CCIX’s present operations.

Balance Sheet

Balance Sheet The balance sheet is simple and relatively clean, reflecting a shell company set up to hold cash for a future deal. Assets and equity are almost the same, and there is effectively no debt, which reduces financial complexity and leverage risk at this stage. The main limitation is size: CCIX on its own is small and exists primarily as a vehicle to inject cash into PlusAI, rather than as a business with substantial standalone resources or diversified assets.

Cash Flow

Cash Flow Cash flow is basically flat, with no real operating or investment cash activity. That fits the SPAC model: CCIX is not spending on equipment, staff, or growth, because it has no operating business yet. All meaningful future cash flow—both spending and potential inflows—will come after the merger, when PlusAI begins to invest heavily in technology, testing, and commercialization. Until then, historical cash flow provides very little insight into the long‑term prospects.

Competitive Edge

Competitive Edge Today, CCIX has no competitive position of its own; it is a financial shell. After the merger, the competitive profile will be defined entirely by PlusAI. PlusAI looks well positioned within autonomous trucking, with a software‑first approach, strong data from extensive road testing, and deep partnerships with major truck manufacturers and technology suppliers. These relationships could make it easier to scale through existing truck brands rather than building everything in‑house. However, the industry is crowded and high‑stakes, with strong rivals, uncertain regulation, and long commercialization timelines, so any advantage is meaningful but far from guaranteed.

Innovation and R&D

Innovation and R&D All meaningful innovation sits within PlusAI, not CCIX. PlusAI’s SuperDrive software is built around advanced AI and large models, aiming for highly autonomous truck driving with strong safety redundancy. Their approach emphasizes heavy use of data, automated labeling, and continuous learning, plus collaboration with leading chip and AI platform providers. The roadmap includes clear technical milestones and customer trials, but the path is complex: achieving consistent safety, scaling across regions, and integrating with multiple truck makers will require sustained R&D investment and flawless execution over several years.

Summary

CCIX today is essentially a cash shell with almost no operations, revenue, or cash flow of its own, and a clean, straightforward balance sheet. Its future is almost entirely tied to whether the PlusAI merger closes and how successfully PlusAI can commercialize autonomous trucking technology. On the positive side, PlusAI brings strong technology ambitions, sizable real‑world testing experience, and deep partnerships with major truck manufacturers and AI players, along with a software‑driven, recurring‑revenue model. On the risk side, the company operates in a highly competitive, capital‑intensive, and still‑emerging market, with technical, regulatory, and adoption uncertainties and a multi‑year path before large‑scale commercial deployment. Overall, analyzing CCIX is effectively the same as analyzing an early‑stage, high‑innovation autonomous trucking company that has yet to prove out its business model at scale.