Logo

CEP

Cantor Equity Partners, Inc. Class A Ordinary Shares

CEP

Cantor Equity Partners, Inc. Class A Ordinary Shares • NASDAQ
$14.47 ▲ 2.26% (+0.32)
Market Cap $180.88 M
52w High $59.75
52w Low $10.20
Dividend Yield 0%
P/E 37.1
Volume 88.91K
Outstanding Shares 12.50M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $635.837K ▲ $2.056M ▲ 0% $0.16 ▲ $2.056M ▲
Q2-2025 $0 $632.72K ▲ $478.753K ▼ 0% $0.037 ▼ $-632.72K ▼
Q1-2025 $0 $443.105K ▲ $717.494K ▼ 0% $0.056 ▼ $-442.557K ▼
Q4-2024 $0 $157.601K ▲ $1.097M ▲ 0% $0.086 ▲ $1.097M ▲
Q3-2024 $0 $150.999K $476.246K 0% $0.037 $-151K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $25K $107.115M ▲ $108.817M ▲ $-1.702M ▲
Q2-2025 $25K $104.488M ▲ $107.114M ▲ $-2.626M ▼
Q1-2025 $25K $103.463M ▲ $892.89K ▲ $102.57M ▲
Q4-2024 $25K ▼ $102.37M ▲ $443.099K ▼ $101.926M ▲
Q3-2024 $269.013K $101.484M $571.205K $100.913M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.056M ▲ $0 ▲ $0 ▼ $0 $0 $0 ▲
Q2-2025 $478.753K ▼ $-96 ▼ $96 ▲ $0 $0 $-100 ▼
Q1-2025 $717.494K ▼ $0 ▼ $0 $0 ▲ $0 ▲ $0 ▼
Q4-2024 $1.097M ▲ $456.451K ▲ $0 ▲ $-700.464K ▼ $-244.013K ▼ $456.45K ▲
Q3-2024 $476.246K $-635.805K $-100M $100.905M $269.013K $-635.8K

Five-Year Company Overview

Income Statement

Income Statement CEP’s income statement today tells you very little about a real business. As a SPAC, it has essentially no revenue and no ongoing operations, so past earnings are mostly accounting noise tied to its structure rather than to any underlying activity. The one meaningful takeaway is that historical profits or losses are not a useful guide to what the merged Twenty One Capital entity might earn. Once the merger is complete, results will shift from a dormant shell profile to something much more closely tied to the value of its Bitcoin holdings and to whatever fee, lending, or trading income it can generate from Bitcoin‑related services.

Balance Sheet

Balance Sheet The current balance sheet looks like a thin shell: modest assets, essentially no operating liabilities, and no meaningful debt. That is typical for a SPAC and mainly reflects cash and rights held for a future transaction. The picture after the merger is expected to be completely different. The combined company is planned to hold a very large pool of Bitcoin, making digital assets the dominant item on the balance sheet. That concentration could be a powerful asset base but also exposes the balance sheet to large swings in reported value as Bitcoin prices move. Traditional hard assets, diversified receivables, or conventional business assets are likely to be limited at the start.

Cash Flow

Cash Flow Recent cash flow history is not particularly informative because CEP has not been running a normal business. Operating cash flows are essentially flat, capital spending is negligible, and any changes are mainly tied to SPAC set‑up and maintenance. Looking ahead, cash flow will depend on how successfully Twenty One Capital can turn its Bitcoin holdings into productive assets—through lending, structured products, or advisory fees—without taking on excessive risk. Cash generation is likely to be uneven and heavily influenced by crypto market cycles and access to financing, rather than by a stable, mature revenue base in the near term.

Competitive Edge

Competitive Edge As of now, CEP has no real competitive position; it is simply a vehicle waiting to merge. The proposed Twenty One Capital combination aims to create a pure‑play, Bitcoin‑focused financial company with several advantages: a very large Bitcoin treasury, a well‑known Bitcoin advocate as CEO, and backing from high‑profile partners in both crypto and traditional finance. These factors could help with credibility, talent attraction, and deal flow. At the same time, the firm will be competing in a crowded and volatile space that includes exchanges, lenders, asset managers, and other Bitcoin‑heavy corporates. Regulatory uncertainty, trust issues in the crypto industry, and the need to differentiate beyond just “owning a lot of Bitcoin” are key challenges to building a durable moat.

Innovation and R&D

Innovation and R&D Innovation here is primarily strategic and financial rather than laboratory research. Twenty One Capital plans to define itself as “Bitcoin‑native,” with new performance measures like Bitcoin per share and Bitcoin‑based return metrics that directly link shareholder value to the growth of its Bitcoin stack. The roadmap includes Bitcoin‑backed lending, Bitcoin‑based capital market instruments, advisory services for corporate treasuries, and a strong focus on media and education around Bitcoin. If executed well, this combination of product innovation, financial engineering, and ecosystem building could be distinctive. However, many elements are still conceptual, the regulatory path is evolving, and the company must prove it can turn these ideas into scalable, compliant products with real customer demand.

Summary

CEP’s historical numbers mostly reflect a dormant shell structure, not an operating company, so they are a weak guide to the future. The key story is the planned transformation into Twenty One Capital—a large Bitcoin‑holding, Bitcoin‑focused financial platform. Strengths center on a sizable intended Bitcoin treasury, a high‑profile leadership team, and strong strategic backers aiming to build new Bitcoin‑based financial products. Risks are equally clear: heavy dependence on Bitcoin’s price, regulatory and reputational uncertainty in the crypto sector, an unproven business model at scale, and potentially volatile earnings and cash flows. Any assessment of CEP now is essentially an assessment of whether Twenty One Capital can execute on a bold, Bitcoin‑centric vision in a rapidly changing environment.