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MACIW

Melar Acquisition Corp. I Warrant

MACIW

Melar Acquisition Corp. I Warrant • NASDAQ
$0.19 ▲ 26.94% (+0.04)
Market Cap $3.31 M
52w High $0.19
52w Low $0.19
Dividend Yield 0%
P/E 0
Volume 189
Outstanding Shares 17.25M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $712.021K ▲ $1.11M ▼ 0% $0.05 ▼ $0 ▼
Q2-2025 $0 $233.288K ▲ $1.556M ▼ 0% $0.072 ▼ $1.556M ▲
Q1-2025 $0 $156.948K ▲ $1.58M ▼ 0% $0.073 ▼ $-156.948K ▼
Q4-2024 $0 $129.657K ▼ $1.746M ▼ 0% $0.11 ▼ $-129.657K ▲
Q3-2024 $0 $130.378K $2.376M 0% $0.15 $-130.378K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $170.03M ▲ $173.788M ▲ $10.662M ▲ $-6.617M ▼
Q2-2025 $555.805K ▼ $168.908M ▲ $6.892M ▲ $162.017M ▲
Q1-2025 $693.112K ▼ $167.093M ▲ $6.633M ▼ $160.46M ▲
Q4-2024 $878.254K ▼ $165.522M ▲ $6.641M ▲ $158.88M ▲
Q3-2024 $934.098K $163.745M $6.611M $157.134M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $1.556M ▼ $-137.307K ▲ $-228.079K ▼ $228.079K ▲ $-137.307K ▲ $-137.31K ▲
Q1-2025 $1.58M ▼ $-185.142K ▼ $0 $0 $-185.142K ▼ $-185.142K ▼
Q4-2024 $1.746M ▼ $-55.844K ▲ $0 ▲ $0 ▲ $-55.844K ▲ $-55.844K ▲
Q3-2024 $2.376M ▲ $-100.581K ▲ $-160M $-2.447K ▼ $-103.028K ▼ $-103.028K ▲
Q2-2024 $87.168K $-386.362K $-160M $161.423M $1.037M $-386.362K

Five-Year Company Overview

Income Statement

Income Statement MACIW’s income statement today looks like a typical SPAC shell: effectively no revenue and no operating business of its own. The positive earnings per share figure comes from accounting effects rather than any real, recurring profitability. Until the merger with Everli closes, these results mainly reflect interest on cash held in trust minus listing and administrative costs. In other words, the current income statement tells you almost nothing about how the future Everli business might perform; it mainly confirms that Melar has stayed financially “idle” while searching for a deal.

Balance Sheet

Balance Sheet The balance sheet is lean and simple, again consistent with a SPAC that has not yet completed a business combination. It shows a small pool of financial assets and equity, with essentially no traditional operating assets and no reported debt. This is typical: the SPAC structure is designed to be a clean cash shell. For warrant holders, the key point is that today’s balance sheet is largely just a placeholder. The real balance sheet to watch will be that of Everli after the merger, including how much cash ends up on the combined company’s books and how much dilution comes from shares and warrants.

Cash Flow

Cash Flow Current cash flows are minimal and mostly administrative. There is no operating cash flow from a business model yet, and no real investment spending, because Melar is not running an operating company. Cash is primarily used for offering, legal, and deal-related costs, with the underlying investor capital typically parked in low‑risk instruments. The future cash flow picture will depend entirely on Everli’s ability to turn its e‑grocery platform into steady, positive cash generation once it is public, something that is not visible in MACIW’s current cash flow figures.

Competitive Edge

Competitive Edge The competitive story here is really about Everli, not MACIW itself. Everli has built a strong foothold in Italian online grocery by acting as a marketplace that links shoppers, personal couriers, and major supermarket chains. Its edge comes from deep partnerships with leading retailers, an asset‑light model that avoids owning warehouses and fleets, and the ability to let customers order from multiple supermarket brands in one place. This creates convenience and choice that can be hard for single‑retailer apps to match. However, Everli operates in a crowded, fast‑moving arena with competition from large global delivery platforms, local grocers’ own apps, and other marketplace models. Maintaining its partnerships, customer loyalty, and technology lead will be critical to defending its position as it contemplates broader European expansion.

Innovation and R&D

Innovation and R&D Everli’s value is closely tied to its technology rather than physical infrastructure. Its platform integrates directly with retailers’ inventory systems, helping keep product availability and pricing accurate in near real time, which reduces order errors and improves the shopping experience. The company also offers a white‑label solution that lets retailers run their own branded e‑grocery services on Everli’s backbone, turning its tech into a B2B product as well as a consumer app. A remote‑first engineering team and an active development culture suggest an ongoing focus on refining logistics algorithms, user interfaces, and data tools. While this isn’t “R&D” in the lab sense, it is continuous digital product development aimed at improving efficiency, customer satisfaction, and partner stickiness.

Summary

MACIW is currently a financial shell with negligible operations; its historical numbers mainly confirm that it has kept a simple, cash‑heavy structure with little business activity. The real story is prospective: if the merger with Everli closes as planned, the profile shifts from a passive SPAC to an operating e‑grocery marketplace with meaningful technology and commercial relationships. On the positive side, Everli brings an asset‑light model, a strong network of Italian retailers, a differentiated multi‑retailer same‑day offering, and a clear focus on tech‑driven user experience. On the risk side, there is uncertainty around completing the merger, how much cash and dilution the final structure will involve, Everli’s path to sustainable profitability, and its ability to compete in an intense online grocery landscape. Overall, today’s MACIW financials are thin by design; understanding the opportunity and risk requires focusing on Everli’s business model, execution capability, and competitive environment rather than on the current SPAC accounts.