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EURK

Eureka Acquisition Corp Class A Ordinary Share

EURK

Eureka Acquisition Corp Class A Ordinary Share • NASDAQ
$10.86 ▲ 0.00% (+0.00)
Market Cap $83.03 M
52w High $10.89
52w Low $10.13
Dividend Yield 0%
P/E -72.4
Volume 11
Outstanding Shares 7.65M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $251.371K ▲ $354.378K ▼ 0% $0.19 ▲ $-251.371K ▼
Q2-2025 $0 $186.727K ▲ $407.876K ▼ 0% $0.053 ▼ $-186.727K ▼
Q1-2025 $0 $152.038K ▼ $542.018K ▲ 0% $0.29 ▲ $-152.038K ▲
Q4-2024 $0 $240.818K ▲ $368.969K ▲ 0% $0.048 ▲ $-240.818K ▼
Q3-2024 $0 $29.349K $-29.349K 0% $-0.024 $-29.349K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $274.174K ▼ $60.322M ▲ $29.675M ▲ $148.634K ▼
Q2-2025 $354.762K ▼ $59.831M ▲ $87.033K ▲ $59.744M ▲
Q1-2025 $552.031K ▼ $59.394M ▲ $57.5K ▲ $2.013M ▼
Q4-2024 $670.352K ▲ $58.844M ▲ $49.723K ▼ $58.794M ▲
Q3-2024 $57.877K $289.657K $383.23K $-93.573K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $354.378K ▼ $-80.588K ▲ $0 $0 $-80.588K ▲ $-80.588K ▲
Q2-2025 $407.876K ▼ $-197.269K ▼ $0 $0 $-197.269K ▼ $-197.269K ▼
Q1-2025 $542.018K ▲ $-118.321K ▲ $0 ▲ $0 ▼ $-118.321K ▼ $-118.321K ▲
Q4-2024 $368.969K ▲ $-222.15K ▼ $-57.5M ▼ $58.335M ▲ $612.475K ▲ $-222.15K ▼
Q3-2024 $-29.349 $33.816K $0 $-12.21K $21.606K $33.816K

Five-Year Company Overview

Income Statement

Income Statement EURK’s income statement is essentially empty so far. There is no underlying operating business in the historical data, which is typical for a blank‑check / SPAC structure. The tiny positive earnings per share figure appears to come from financial or structural items rather than from real sales or services. In practical terms, current results tell you almost nothing about the future economics of the combined company; they mostly confirm that EURK has not yet been a normal, revenue‑generating business on its own.

Balance Sheet

Balance Sheet The reported balance sheet is minimal and reflects a shell company rather than an operating enterprise. Assets and equity are very small, and there is no meaningful reported debt, which is common for a SPAC waiting to complete a merger. The lack of detailed cash disclosure in the data provided is a limitation, so the headline figures should be treated with caution. The real balance sheet picture will change dramatically if and when the Marine Thinking transaction closes, as operating assets, liabilities, and working capital are added.

Cash Flow

Cash Flow Cash flow information is effectively flat: no operating inflows, no investing outflows, and no visible capital spending. This is consistent with a vehicle that has not yet begun commercial activity. There is no history yet of funding growth, managing working capital, or generating free cash flow. The first meaningful cash flow story will only emerge after the business combination, once Marine Thinking’s operations are consolidated and start to appear in the public financials.

Competitive Edge

Competitive Edge Today, as a SPAC, EURK has no operating competitive position of its own. Its future position will be defined by Marine Thinking, which appears to occupy an attractive niche in autonomous marine technology. Marine Thinking’s strengths include a proprietary AI platform for vessel autonomy, specialized uncrewed surface vessels, and relationships with government and defense innovation programs. These factors suggest a differentiated offering and early‑mover advantage in several marine applications. At the same time, the broader autonomy and defense‑tech landscape is competitive and fast‑moving, so sustaining any advantage will require continued execution and innovation.

Innovation and R&D

Innovation and R&D The core of the story lies in Marine Thinking’s technology platform. Its Marine Tensor system combines data from multiple sensors to enable autonomous navigation, situational awareness, and remote operations at sea. On top of that, the company develops specialized unmanned vessels, launch‑and‑recovery systems for underwater robotics, and toolkits to retrofit existing ships with smart, automated capabilities. Government‑backed funding initiatives and participation in NATO’s innovation program both signal a focus on R&D and advanced applications. The opportunity is significant, but so are the usual uncertainties around new technology: product reliability, regulatory acceptance, scaling production, and staying ahead of rivals’ innovations.

Summary

EURK’s historical numbers reflect a typical blank‑check structure: no revenue, negligible operating activity, and a bare‑bones balance sheet. As a stand‑alone entity, the past financials offer little insight into long‑term performance. The real narrative is the planned merger with Marine Thinking, which would turn EURK into a play on autonomous marine systems and maritime AI. Marine Thinking appears to bring differentiated technology, specialized products, and valuable institutional partnerships, pointing to meaningful growth potential but also to execution, regulatory, and competitive risks. Overall, EURK is in a transition phase where its future profile, risks, and rewards depend largely on whether the transaction closes as planned and how successfully Marine Thinking can commercialize and scale its innovations once public.

NEWS

November 3, 2025 · 9:13 AM UTC

Marine Thinking to Become a Publicly Traded Company on NASDAQ via Combination with Eureka Acquisition Corp.

Read more