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HSPO

Horizon Space Acquisition I Corp. Ordinary Shares

HSPO

Horizon Space Acquisition I Corp. Ordinary Shares • NASDAQ
$12.51 ▲ 1.84% (+0.23)
Market Cap $52.15 M
52w High $15.12
52w Low $11.27
Dividend Yield 0%
P/E 89.36
Volume 40
Outstanding Shares 4.17M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $0 ▼ $397.045K ▲ 0% $0.21 ▲ $0 ▲
Q2-2025 $0 $153.989K ▲ $75.887K ▲ 0% $0.018 ▲ $-153.989K ▼
Q1-2025 $0 $153.298K ▼ $71.454K ▼ 0% $0.017 ▼ $-153K ▼
Q4-2024 $0 $257.18K ▼ $453.284K ▲ 0% $0.061 ▲ $2.914M ▲
Q3-2024 $0 $499.346K $296.392K 0% $0.038 $-499K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.679K ▼ $23.12M ▲ $5.893M ▲ $-5.864M ▼
Q2-2025 $13.259K ▼ $22.55M ▲ $5.472M ▲ $17.078M ▲
Q1-2025 $50.808K ▲ $22.019M ▲ $5.017M ▲ $17.003M ▲
Q4-2024 $7.815K ▼ $21.328M ▼ $4.397M ▲ $16.931M ▲
Q3-2024 $128.169K $62.252M $4.04M $-3.892M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $149.028K ▲ $-5.58K ▲ $-360K $360K ▼ $-5.58K ▲ $-5.58K ▲
Q2-2025 $75.887K ▲ $-147.549K ▲ $-360K $470K ▼ $-37.549K ▼ $-147.549K ▲
Q1-2025 $71.454K ▼ $-207.007K ▲ $-360K ▼ $610K ▲ $42.993K ▲ $-207.007K ▲
Q4-2024 $453.284K ▲ $-320.354K ▼ $41.494M ▲ $-41.294M ▼ $-120.354K ▼ $-320.354K ▼
Q3-2024 $296.392K $-193.707K $-180K $480K $106.293K $-193.71K

Five-Year Company Overview

Income Statement

Income Statement HSPO currently has no operating business, so its income statement is largely a formality. There is no revenue and no core profits because the company exists only as a shell looking for a merger partner. The changing earnings per share over time mostly reflect accounting items, interest on funds, and SPAC-related costs rather than any underlying business performance. In short, the income statement does not yet tell a story about ongoing operations or customer activity, only about the cost of keeping the SPAC alive while it searches for a deal.

Balance Sheet

Balance Sheet The balance sheet is very simple: a small pool of assets, matched by shareholders’ equity, and effectively no debt. That means the company is financially “clean” but also very small and without operating assets like plants, equipment, or intellectual property. Most of the economic value in a SPAC typically sits in a separate trust account structured for the benefit of shareholders, which does not show up like a normal operating company’s assets. Overall, the balance sheet reflects a temporary holding structure, not a functioning business with long-term assets.

Cash Flow

Cash Flow HSPO’s reported cash flows are minimal, which is consistent with a SPAC that has no operations. There is no meaningful cash being generated from customers, and no ongoing investment in equipment, technology, or expansion. Most real cash activity would be related to the IPO proceeds and routine administrative expenses, plus any future redemptions or transaction costs if a merger is announced. At this stage, the cash flow statement mainly confirms that HSPO is in a holding pattern, preserving capital while incurring modest running costs.

Competitive Edge

Competitive Edge As a SPAC, HSPO’s competitive position depends entirely on its ability to find and close a merger with an attractive private company. It does not compete in a traditional product or service market today. Instead, it competes with other SPACs and traditional IPO routes for access to desirable targets. The termination of its prior deal with Squirrel HoldCo shows that not every negotiation results in a completed transaction, and that execution risk is real. The extended deadline to complete a business combination buys more time, but also highlights the pressure to secure a deal before the SPAC must consider liquidation. Until a new target is identified, HSPO’s competitive standing is uncertain and tied to the sponsor team’s deal-making capabilities and market conditions for mergers.

Innovation and R&D

Innovation and R&D HSPO does not conduct research and development, nor does it own any distinctive technology or products. It is purely a financial vehicle. Any future innovation story will belong to the company it eventually acquires, not to HSPO itself. The previously planned merger with a technology-focused firm was cancelled, which resets the clock: there is no current target, no defined product roadmap, and no credible way to assess future innovation until a new agreement is announced. All discussion of R&D at this stage would be speculative and entirely dependent on the characteristics of a future merger candidate.

Summary

HSPO is best viewed as a pool of capital in search of a business, not as an operating company. Its financial statements mostly reflect capital structure and administrative upkeep, rather than sales, margins, or investment in growth. The main strengths are a simple balance sheet and a clear mandate: find a suitable target by the extended deadline. The main risks are execution and timing: the prior deal fell through, and there is no visibility yet on a new combination. Future prospects will hinge almost entirely on the quality, valuation, and structure of any eventual merger, as well as on broader market conditions for SPAC transactions. Until a definitive new target is announced and detailed, the numbers provide very limited insight into long-term performance or business fundamentals.