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HSPOR

Horizon Space Acquisition I Corp.

HSPOR

Horizon Space Acquisition I Corp. • NASDAQ
$0.12 ▲ 11.82% (+0.01)
Market Cap $26.86 M
52w High $0.12
52w Low $0.12
Dividend Yield 0%
P/E 0
Volume 1
Outstanding Shares 218.41M

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 HSPOR’s income statement looks like what it is: a shell company with no operating business. There is no revenue, no gross profit, and no real operating activity. The reported earnings per share swinging between small profits and a small loss mainly reflect SPAC mechanics, such as interest on funds, changes in share counts, and one‑off accounting items, not an underlying business performance. In practical terms, there is nothing here yet that resembles a normal company’s income statement, because the SPAC has not completed a merger and does not generate sales.

Balance Sheet

Balance Sheet The balance sheet is extremely simple and very small outside of the separate SPAC trust structure. It shows a modest amount of assets funded entirely by equity, with no traditional debt on the reported figures. In reality, most of the economic value in a SPAC sits in the trust account for shareholders, not in the operating balance sheet, which is why these line items look so minimal. The later working‑capital loan from the sponsor suggests the company is relying on short‑term support to cover routine costs while it searches for a deal, highlighting how lean and temporary the structure is.

Cash Flow

Cash Flow Cash flows are essentially flat in the reported data, which is typical for a SPAC that has not closed a transaction. There is no operating cash inflow from a business, no investment in assets, and no meaningful capital spending. Day‑to‑day expenses are small and often funded by the sponsor rather than by operating cash generation. This reinforces that HSPOR is a financial vehicle, not yet a cash‑producing company, and its future cash profile depends entirely on whether a merger is completed or the SPAC is ultimately liquidated.

Competitive Edge

Competitive Edge Because HSPOR is a blank‑check company with no products, customers, or operations, it does not have a classic competitive position or moat. Its “edge,” if any, lies in the experience, relationships, and deal‑making skills of its sponsors and management team, and in their ability to find an attractive merger partner before time runs out. The termination of its prior merger agreement and the looming liquidation deadline significantly weaken its position versus other SPACs that already have deals lined up or have completed combinations. At this stage, the main competitive challenge is simply finding a viable target fast enough and on terms shareholders will accept.

Innovation and R&D

Innovation and R&D HSPOR does not conduct research and development and holds no proprietary technology or products of its own. Any innovation story would have come from the private company it merged with, which has not happened. The prior focus on space‑related businesses hinted at a potentially innovative direction, but the cancelled merger leaves that vision unrealized. Going forward, any innovation angle depends entirely on the characteristics of a future target, if one is found; the SPAC itself is just a financing shell without unique technological capabilities.

Summary

HSPOR is a SPAC in a late and uncertain phase of its life cycle. Its financial statements show no operating business: no revenue, minimal assets and cash activity, and small accounting‑driven profits or losses rather than true performance. The company’s economic reality revolves around the trust account and the remaining time to secure a new merger after its previous deal was terminated. With a liquidation deadline on the horizon and a working‑capital loan from its sponsor keeping the lights on, the key question is not how the business is doing—because there is no business yet—but whether management can finalize a credible combination before the clock runs out, or else wind down and return capital to shareholders.