HCMAW
HCMAW
HCM III Acquisition Corp.Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q1-2026 | $0 | $387.27K ▼ | $1.72M ▼ | 0% | $0.05 ▼ | $-387.27K ▲ |
| Q4-2025 | $0 | $731.35K ▲ | $1.85M ▲ | 0% | $0.05 ▲ | $-731.35K ▼ |
| Q3-2025 | $0 | $135.34K ▲ | $390.36K ▲ | 0% | $0.01 ▲ | $-135.34K ▼ |
| Q2-2025 | $0 | $47.55K ▲ | $-47.55K ▼ | 0% | $-0 ▼ | $-47.55K ▼ |
| Q1-2025 | $0 | $21.75K | $-21.75K | 0% | $-0 | $-21.75K |
What's going well?
Operating expenses have been cut nearly in half, reducing the company's losses. The company is still making a profit thanks to strong interest income from its cash or investments.
What's concerning?
There is still no revenue from actual business operations. Profits depend entirely on interest income, which is falling, and the core business is unprofitable.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q1-2026 | $830.15K ▼ | $260.39M ▲ | $14.15M ▲ | $246.24M ▲ |
| Q4-2025 | $1.02M ▼ | $258.43M ▲ | $13.91M ▲ | $244.51M ▲ |
| Q3-2025 | $1.14M ▲ | $256.03M ▲ | $13.36M ▲ | $242.66M ▲ |
| Q2-2025 | $0 ▼ | $417.68K ▼ | $440.23K ▼ | $-22.55K ▼ |
| Q3-2023 | $79.1K | $44.85M | $8.73M | $36.12M |
What's financially strong about this company?
The company has no debt at all and a huge equity cushion. Most assets are long-term investments, and there are no risky intangibles or goodwill. Liabilities are very low compared to assets.
What are the financial risks or weaknesses?
Very little cash on hand compared to the size of the company, and retained earnings are negative, showing past losses. Liquidity is getting tighter as current assets shrink and liabilities rise.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q4-2025 | $2.58M ▲ | $956.53K ▲ | $-84.33M ▲ | $83.59M ▼ | $0 ▼ | $956.53K ▲ |
| Q3-2025 | $390.36K ▲ | $-1.43M ▼ | $-253M ▼ | $255.58M ▲ | $1.14M ▲ | $-1.43M ▼ |
| Q3-2023 | $-945.14K ▼ | $-447.64K ▼ | $-428.34K ▼ | $828.34K ▲ | $-47.64K ▲ | $-447.64K ▼ |
| Q2-2023 | $1.27M ▲ | $-340.37K ▼ | $258.1M ▲ | $-258.1M ▼ | $-340.75K ▼ | $-340.37K ▼ |
| Q1-2023 | $851.33K | $-255.32K | $0 | $-69.61K | $-324.93K | $-255.32K |
What's strong about this company's cash flow?
The company moved from burning cash to generating $957K in operating and free cash flow. It no longer needed to raise money from investors this quarter, showing some operational improvement.
What are the cash flow concerns?
Cash on hand is low at just $1.02M, and most of the positive cash flow came from a likely one-time working capital swing. Without this, cash generation could turn negative again.
5-Year Trend Analysis
A comprehensive look at HCM III Acquisition Corp.'s financial evolution and strategic trajectory over the past five years.
HCMAW benefits from a strong, cash-heavy, debt-free balance sheet, healthy liquidity, and positive accounting earnings driven by interest income, combined with a focused mandate to find a technology-enabled financial services target and a management team with relevant sector expertise.
Major risks center on execution: the possibility of failing to find a suitable target within the available time, choosing a weak or overvalued business, erosion of investor enthusiasm for SPAC structures, and the current lack of real operating revenue or proven business model inside the listed entity.
The forward picture is binary and highly uncertain: near-term results will continue to reflect a passive cash vehicle with limited fundamentals, while the long-term outlook—positive or negative—will hinge almost entirely on the quality, valuation, and integration of the eventual acquisition in the financial technology and services ecosystem.
About HCM III Acquisition Corp.
https://hcmacquisition.comHCM III Acquisition Corp. focuses on effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. HCM III Acquisition Corp. was incorporated in 2025 and is based in Norwalk, Connecticut.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q1-2026 | $0 | $387.27K ▼ | $1.72M ▼ | 0% | $0.05 ▼ | $-387.27K ▲ |
| Q4-2025 | $0 | $731.35K ▲ | $1.85M ▲ | 0% | $0.05 ▲ | $-731.35K ▼ |
| Q3-2025 | $0 | $135.34K ▲ | $390.36K ▲ | 0% | $0.01 ▲ | $-135.34K ▼ |
| Q2-2025 | $0 | $47.55K ▲ | $-47.55K ▼ | 0% | $-0 ▼ | $-47.55K ▼ |
| Q1-2025 | $0 | $21.75K | $-21.75K | 0% | $-0 | $-21.75K |
What's going well?
Operating expenses have been cut nearly in half, reducing the company's losses. The company is still making a profit thanks to strong interest income from its cash or investments.
What's concerning?
There is still no revenue from actual business operations. Profits depend entirely on interest income, which is falling, and the core business is unprofitable.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q1-2026 | $830.15K ▼ | $260.39M ▲ | $14.15M ▲ | $246.24M ▲ |
| Q4-2025 | $1.02M ▼ | $258.43M ▲ | $13.91M ▲ | $244.51M ▲ |
| Q3-2025 | $1.14M ▲ | $256.03M ▲ | $13.36M ▲ | $242.66M ▲ |
| Q2-2025 | $0 ▼ | $417.68K ▼ | $440.23K ▼ | $-22.55K ▼ |
| Q3-2023 | $79.1K | $44.85M | $8.73M | $36.12M |
What's financially strong about this company?
The company has no debt at all and a huge equity cushion. Most assets are long-term investments, and there are no risky intangibles or goodwill. Liabilities are very low compared to assets.
What are the financial risks or weaknesses?
Very little cash on hand compared to the size of the company, and retained earnings are negative, showing past losses. Liquidity is getting tighter as current assets shrink and liabilities rise.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q4-2025 | $2.58M ▲ | $956.53K ▲ | $-84.33M ▲ | $83.59M ▼ | $0 ▼ | $956.53K ▲ |
| Q3-2025 | $390.36K ▲ | $-1.43M ▼ | $-253M ▼ | $255.58M ▲ | $1.14M ▲ | $-1.43M ▼ |
| Q3-2023 | $-945.14K ▼ | $-447.64K ▼ | $-428.34K ▼ | $828.34K ▲ | $-47.64K ▲ | $-447.64K ▼ |
| Q2-2023 | $1.27M ▲ | $-340.37K ▼ | $258.1M ▲ | $-258.1M ▼ | $-340.75K ▼ | $-340.37K ▼ |
| Q1-2023 | $851.33K | $-255.32K | $0 | $-69.61K | $-324.93K | $-255.32K |
What's strong about this company's cash flow?
The company moved from burning cash to generating $957K in operating and free cash flow. It no longer needed to raise money from investors this quarter, showing some operational improvement.
What are the cash flow concerns?
Cash on hand is low at just $1.02M, and most of the positive cash flow came from a likely one-time working capital swing. Without this, cash generation could turn negative again.
5-Year Trend Analysis
A comprehensive look at HCM III Acquisition Corp.'s financial evolution and strategic trajectory over the past five years.
HCMAW benefits from a strong, cash-heavy, debt-free balance sheet, healthy liquidity, and positive accounting earnings driven by interest income, combined with a focused mandate to find a technology-enabled financial services target and a management team with relevant sector expertise.
Major risks center on execution: the possibility of failing to find a suitable target within the available time, choosing a weak or overvalued business, erosion of investor enthusiasm for SPAC structures, and the current lack of real operating revenue or proven business model inside the listed entity.
The forward picture is binary and highly uncertain: near-term results will continue to reflect a passive cash vehicle with limited fundamentals, while the long-term outlook—positive or negative—will hinge almost entirely on the quality, valuation, and integration of the eventual acquisition in the financial technology and services ecosystem.
CEO
Shawn Peter Matthews
Compensation Summary
(Year )
ETFs Holding This Stock
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