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COLA

Columbus Acquisition Corp

COLA

Columbus Acquisition Corp • NASDAQ
$10.31 ▼ -0.22% (-0.02)
Market Cap $81.89 M
52w High $10.42
52w Low $9.95
Dividend Yield 0%
P/E 68.72
Volume 532
Outstanding Shares 7.94M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $132.115K ▼ $497.832K ▲ 0% $0.06 $497.832K ▲
Q2-2025 $0 $151.899K ▼ $462.615K ▲ 0% $0.06 ▲ $-151.899K ▲
Q1-2025 $0 $253.934K ▲ $149.799K ▲ 0% $0.019 ▲ $-253.934K ▼
Q4-2024 $0 $17.501K ▲ $-17.501K ▼ 0% $-0.002 ▼ $-17.501K ▼
Q3-2024 $0 $12.364K $-12.364K 0% $-0.002 $-12.364K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $638.311K ▼ $62.342M ▲ $106.25K ▲ $587.802K ▼
Q2-2025 $761.463K ▼ $61.836M ▲ $98.192K ▲ $719.917K ▼
Q1-2025 $894.161K ▲ $61.322M ▲ $46.071K ▼ $61.276M ▲
Q4-2024 $0 $200.034K ▲ $252.128K ▲ $-52.094K ▼
Q3-2024 $0 $180.319K $215.722K $-35.403K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $497.832K ▲ $-123.152K ▲ $0 $0 $-123.152K ▲ $-123.152K ▲
Q2-2025 $462.615K ▲ $-132.698K ▲ $0 ▲ $0 ▼ $-132.698K ▼ $-132.698K ▲
Q1-2025 $149.799K ▲ $-172.527K ▼ $-60M ▼ $61.067M ▲ $894.161K ▲ $-172.527K ▼
Q4-2024 $-16.691K ▲ $-14.275K ▲ $0 ▼ $14.275K ▲ $0 ▼ $-14.275K ▲
Q1-2009 $-478.693K $-362.202K $433.413K $13.193K $84.404K $-362.202K

Five-Year Company Overview

Income Statement

Income Statement COLA currently looks like a typical blank‑check company: it has essentially no operating revenue, no meaningful gross profit, and very small expenses tied mainly to corporate and deal‑related costs. That’s why its reported loss per share is very small but still negative. In practical terms, the existing income statement tells you almost nothing about the future operating performance of the business that will exist after the WISeSat.Space merger. Once the deal closes, the income statement will change completely, reflecting a satellite‑and‑cybersecurity business rather than a financial shell. Until then, past figures mainly show that the company has been in a waiting phase, not running a real commercial operation.

Balance Sheet

Balance Sheet The reported balance‑sheet snapshot is effectively blank, which is common in very early or placeholder data for SPACs. In reality, a SPAC’s balance sheet is usually dominated by cash raised from investors and a matching liability to those investors, with very few operating assets or classic business debts. For COLA, the key point is that the current balance sheet does not yet show the satellites, technology, or operating assets of WISeSat.Space. After the merger, the combined company’s balance sheet will likely become much more complex, with technology assets, satellite investments, and potentially higher funding needs. The present balance sheet mainly signals that COLA is still in transition from a cash shell to an operating tech company.

Cash Flow

Cash Flow Cash flows today are typical of a SPAC: almost no operating inflows, some modest outflows for administrative and deal expenses, and historical inflows that came primarily from raising capital rather than from running a business. This means the current cash‑flow statement is more of a record of set‑up and maintenance costs than an indicator of sustainable cash generation. Once WISeSat.Space is merged in, cash flows will depend on how quickly the new business can win customers, how capital‑intensive satellite deployment proves to be, and how carefully operating costs are managed. Until then, cash burn and deal completion are the main moving parts.

Competitive Edge

Competitive Edge As a standalone shell, COLA has no real competitive position; its role is simply to bring a private company to the public markets. The competitive dynamics that matter are those of WISeSat.Space, the proposed merger partner. Post‑merger, the combined company aims to compete where secure satellite connectivity and cybersecurity meet. Its edge should come from tying together satellite‑based Internet‑of‑Things connectivity with strong, hardware‑level security and an established cybersecurity brand in WISeKey. That could be attractive in sectors that need secure data in remote or hard‑to‑serve locations. However, the markets it is targeting—satellite communications, IoT connectivity, and cybersecurity—are all crowded and fast‑moving. Larger satellite operators, terrestrial network providers, and pure‑play cybersecurity firms may all compete for similar customers. Execution, partnerships, and speed to market will matter at least as much as the initial technological concept.

Innovation and R&D

Innovation and R&D COLA itself is not an innovator; it is a financing vehicle. The innovation story sits entirely with WISeSat.Space. WISeSat.Space is working on three notable fronts: secure satellite‑based connectivity for connected devices, deep integration of cybersecurity into chips and hardware, and early work on encryption designed to withstand future quantum‑computing threats. Combining these elements could create an end‑to‑end secure pipeline for data, from the sensor on the ground up to the satellite and into the cloud. The opportunity is that few players can genuinely offer both space‑based connectivity and in‑house, hardware‑rooted cybersecurity. The risk is that these are ambitious, capital‑intensive projects with technical, regulatory, and commercial hurdles. The value of this innovation will only become clear as satellites are deployed, products are hardened for real‑world use, and paying customers adopt the solutions at scale.

Summary

COLA is currently a classic blank‑check company: minimal revenues, minimal operations, and financials that mainly reflect its role as a capital pool rather than a functioning business. On its own, the historical data says little about long‑term earnings power. The real story is the planned transformation into a space‑and‑cybersecurity player through the WISeSat.Space merger. If completed and executed well, COLA would shift from being a passive financial structure to owning a business focused on secure satellite‑based IoT communications and advanced encryption technologies. This creates both potential and uncertainty. Potential, because secure connectivity for devices in remote areas and post‑quantum cybersecurity are growing problem areas with clear demand. Uncertainty, because the path from promising technology to a profitable, scaled business in space and cybersecurity is long, expensive, and highly competitive. At this stage, COLA is best understood as an early‑stage transition story whose future profile depends largely on how effectively WISeSat.Space can execute its roadmap after the merger.

NEWS

November 10, 2025 · 8:30 AM UTC

WISeKey International Holding AG (Nasdaq: WKEY) and Columbus Acquisition Corp. (Nasdaq: COLA) Execute Business Combination Agreement to Publicly List WISeKey's Subsidiary WISeSat.Space Corp. Under The Name WISeSat.Space Holdings Corp.

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November 10, 2025 · 1:00 AM UTC

WISeKey International Holding AG (Nasdaq: WKEY) and Columbus Acquisition Corp. (Nasdaq: COLA) Execute Definitive Business Combination Agreement to Publicly List WISeKey's Subsidiary WISeSat.Space Corp. Under The Name WISeSat.Space Holdings

Read more