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CCIXW

Churchill Capital Corp IX Warrant

CCIXW

Churchill Capital Corp IX Warrant • NASDAQ
$0.88 ▲ 2.39% (+0.02)
Market Cap $28.07 M
52w High $1.17
52w Low $0.72
Dividend Yield 0%
P/E 0
Volume 250
Outstanding Shares 31.90M

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 ▲ $0 ▲
Q2-2025 $0 $2.339M ▲ $842.372K ▼ 0% $0.023 ▼ $-2.339M ▼
Q1-2025 $0 $283.455K ▲ $2.714M ▼ 0% $0.074 ▼ $-283.455K ▼
Q4-2024 $0 $250.64K ▼ $3.291M ▼ 0% $0.17 ▲ $-250.64K ▲
Q3-2024 $0 $257.879K $3.562M 0% $0.12 $-257.879K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $304.719M ▲ $305.011M ▲ $10.144M ▼ $-9.674M ▼
Q2-2025 $302.727M ▲ $303.151M ▲ $10.607M ▲ $292.543M ▲
Q1-2025 $2.22M ▼ $301.882M ▲ $10.18M ▲ $291.701M ▲
Q4-2024 $2.413M ▲ $299.124M ▲ $10.137M $-7.136M ▼
Q3-2024 $1.549M $295.834M $10.137M $-6.885M

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 ▼ $-286.5M ▼ $290.232M ▲ $863.306K ▲ $-136.694K ▼
Q3-2024 $3.562M $-121.994K $0 $0 $-121.994K $-121.994K

Five-Year Company Overview

Income Statement

Income Statement CCIXW today is essentially a financial shell, not an operating business. The historical income statement shows no real revenue or ongoing operations. Any small profits shown are more accounting noise than evidence of a functioning company. That means there is no track record yet of selling products, managing costs, or generating sustainable earnings. The future income story depends almost entirely on whether the merger with PlusAI closes and how that business performs years down the line, not on the current shell’s past results.

Balance Sheet

Balance Sheet The balance sheet is very light, with only modest assets and essentially no debt at this stage. However, reported equity is slightly negative, which is common in SPAC structures where accounting for warrants and other instruments can distort book value. In practical terms, there is no meaningful base of tangible assets, no established capital structure, and no cushion built from retained profits. The real balance sheet investors should care about is the one PlusAI will bring if and when the merger is completed.

Cash Flow

Cash Flow Cash flow is minimal and mostly reflects the administrative life of a SPAC rather than a true operating company. There is no cash coming in from customers and no investment in physical assets or large-scale projects yet. This means there is no history of the business funding itself from internal cash generation. Future cash inflows and outflows will depend entirely on PlusAI’s ability to win contracts, control spending, and eventually turn its technology into recurring revenue, none of which is visible in the current cash flow data.

Competitive Edge

Competitive Edge On its own, CCIXW has no competitive position; it is just a warrant tied to a SPAC. The competitive angle comes from PlusAI, the intended merger partner. PlusAI targets the autonomous trucking market, which is large but extremely competitive and still early in its commercial rollout. Its strengths appear to be tight partnerships with major truck makers, a software‑only focus that avoids the cost of building trucks, and substantial real‑world testing mileage. However, it faces strong rivals, rapid technology change, and heavy regulatory and safety scrutiny. Overall, potential advantages exist, but the competitive landscape is crowded and uncertain.

Innovation and R&D

Innovation and R&D The innovation story is almost entirely about PlusAI’s SuperDrive™ software, which aims to act as a virtual driver for trucks. The company has logged millions of autonomous miles, which helps refine its AI and build a valuable data advantage. Its model relies on embedding this software directly into new trucks through partnerships with established manufacturers, rather than retrofitting later. That could be a cleaner, more scalable approach if executed well. At the same time, this is a long‑cycle, R&D‑heavy field with big technical, regulatory, and safety hurdles, and true commercial scale is not expected for several years. Progress on technology, testing, and approvals will be critical to watch.

Summary

CCIXW is not a traditional operating company; it is a warrant linked to a SPAC whose value is tied almost entirely to the proposed merger with PlusAI. The current financials show a shell with no real revenue, minimal assets, and accounting‑driven figures rather than business performance. The real story is forward‑looking: a bet on autonomous trucking technology, deep software R&D, and the successful execution of a complex commercial rollout around the middle of the decade. There is meaningful upside potential if PlusAI delivers on its plans, but also high uncertainty and execution risk, with no historical operating record in these numbers to give comfort. This makes CCIXW highly dependent on the merger closing and on PlusAI’s long‑term success in a challenging, fast‑moving industry.