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HCMAU

HCM III ACQUISITION CORP.

HCMAU

HCM III ACQUISITION CORP. • NASDAQ
$10.29 ▼ -0.10% (-0.01)
Market Cap $226.38 M
52w High $10.99
52w Low $10.05
Dividend Yield 0%
P/E 0
Volume 278
Outstanding Shares 22.00M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $0 $47.545K ▲ $-47.545K ▼ 0% $-0.002 ▼ $-47.545K ▼
Q1-2025 $0 $21.745K ▼ $-21.745K ▲ 0% $-0.001 ▲ $-21.745K ▲
Q3-2023 $0 $1.518M ▲ $-945.139K ▼ 0% $-0.067 ▼ $-1.518M ▼
Q2-2023 $0 $750.159K ▼ $1.272M ▼ 0% $0.06 ▼ $-750.16K ▲
Q1-2023 $0 $1.59M $3.293M 0% $0.085 $-1.317M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $0 ▼ $417.682K ▼ $440.227K ▼ $-22.545K ▼
Q3-2023 $79.103K ▼ $44.847M ▲ $8.729M ▲ $36.118M ▼
Q2-2023 $126.741K ▼ $43.941M ▼ $6.878M ▲ $37.063M ▼
Q1-2023 $467.492K ▼ $300.706M ▲ $6.383M ▼ $294.323M ▲
Q4-2022 $792.423K $298.6M $16.956M $281.643M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2023 $-945.139K ▼ $-447.637K ▼ $-428.338K ▼ $828.337K ▲ $-47.638K ▲ $-447.637K ▼
Q2-2023 $1.272M ▲ $-340.366K ▼ $258.103M ▲ $-258.104M ▼ $-340.751K ▼ $-340.366K ▼
Q1-2023 $851.333K ▼ $-255.316K ▼ $0 $-69.615K ▲ $-324.931K ▼ $-255.316K ▼
Q4-2022 $2.826M ▲ $-177.198K ▼ $0 $-500.23K ▼ $-177.198K ▼ $-177.198K ▼
Q3-2022 $1.867M $-101.458K $0 $0 $-101.458K $-101.458K

Five-Year Company Overview

Income Statement

Income Statement HCMAU is essentially a financial shell right now. It has no revenue, no products, and only very small operating activity. The slight profit shown is more an accounting outcome of a tiny capital base than a sign of real business performance. Until it completes a merger with a real operating company, its income statement does not tell you much about long‑term earning power or business quality.

Balance Sheet

Balance Sheet The balance sheet is simple and very light. There is a small amount of equity, minimal assets, and no debt in the data shown. That’s typical for a SPAC before it raises IPO capital and before any acquisition. Over time, the balance sheet will likely change dramatically once the IPO funds and, later, a target company’s assets and liabilities are added. For now, it is clean but not very informative about future scale or financial strength.

Cash Flow

Cash Flow Cash flows are effectively dormant. There is no meaningful cash coming in from operations, no investing activity, and no notable financing flows in the period shown. This is what you would expect from a newly formed blank‑check company that has not yet raised substantial capital or completed a deal. Real cash flow patterns will only emerge after a merger with an operating business.

Competitive Edge

Competitive Edge At this stage, HCMAU’s competitive edge is not about products or market share, but about its leadership team and their ability to source and negotiate an attractive deal. The SPAC operates in a crowded space with many other vehicles also chasing fintech and financial services targets. Its advantage is the experience and network of its management, but its eventual competitive position will depend almost entirely on which company it acquires and how strong that company is in its own niche.

Innovation and R&D

Innovation and R&D HCMAU itself is not an innovator today; it has no products, technology, or R&D of its own. Its stated strategy is to acquire a financially sound fintech or financial services business with disruptive technology, potentially in areas like artificial intelligence or blockchain. Any future innovation story will sit inside the company it chooses to merge with, not inside the SPAC structure. Until a target is announced, all discussion of innovation is forward‑looking and uncertain.

Summary

HCMAU is a classic early‑stage SPAC: almost no operations, a very thin balance sheet, and no cash flow to analyze in a traditional way. The real story will only begin once it raises and deploys capital into a merger with a private company. At that point, revenue, profit, leverage, cash generation, and competitive dynamics will all hinge on the quality of the acquired business and the terms of the deal. For now, analysis is mainly about structure and strategy rather than fundamentals, and there is substantial uncertainty until a target is identified and detailed financials for that target are available.

NEWS

September 19, 2025 · 12:15 PM UTC

HCM III Acquisition Corp. Announces the Separate Trading of its Class A Ordinary Shares and Warrants, Commencing September 22, 2025

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