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NTWO

Newbury Street II Acquisition Corp

NTWO

Newbury Street II Acquisition Corp • NASDAQ
$10.38 ▼ -0.12% (-0.01)
Market Cap $186.82 M
52w High $10.45
52w Low $9.88
Dividend Yield 0%
P/E 103.8
Volume 276
Outstanding Shares 18.00M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $0 ▼ $1.239M ▼ 0% $0.07 $0 ▲
Q2-2025 $0 $164.94K ▲ $1.685M ▲ 0% $0.07 $-164.94K ▼
Q1-2025 $0 $155.106K ▲ $1.685M ▲ 0% $0.07 ▲ $-155.106K ▼
Q4-2024 $0 $134.009K ▲ $1.084M ▲ 0% $0.045 ▲ $1.084M ▲
Q3-2024 $0 $25.78K $-25.78K 0% $-0.001 $-25.78K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $949.601K ▼ $181.206M ▲ $6.165M ▼ $-5.069M ▼
Q2-2025 $1.065M ▼ $179.481M ▲ $6.172M ▲ $173.309M ▲
Q1-2025 $1.129M ▼ $177.738M ▲ $6.115M ▼ $171.623M ▲
Q4-2024 $1.237M ▲ $176.114M ▲ $6.176M ▲ $169.938M ▲
Q3-2024 $0 $222.777K $239.379K $-16.602K

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.732M ▼ $-115.693K ▼ $0 ▼ $0 ▲ $-115.693K ▲ $-115.693K ▼
Q2-2025 $2.287M ▲ $126.488K ▲ $173.363M ▲ $-174.898M ▼ $-171.907K ▼ $126.493K ▲
Q1-2025 $1.685M ▲ $-108.502K ▲ $0 ▲ $0 ▼ $-108.502K ▼ $-108.502K ▲
Q4-2024 $1.084M ▲ $-298.395K ▼ $-173.363M ▼ $174.898M ▲ $1.237M ▲ $-298.4K ▼
Q3-2024 $-41.602K $0 $0 $0 $0 $0

Five-Year Company Overview

Income Statement

Income Statement NTWO is essentially a “blank check” company, so its income statement is very simple. It has no operating revenue and no active business yet, so there are no meaningful sales, margins, or operating profits to analyze. The small reported profit per share mainly reflects SPAC accounting effects rather than an ongoing, repeatable business. Until a merger is completed, the income statement will mostly show minor administrative costs and interest income on cash held in trust, not true business performance.

Balance Sheet

Balance Sheet The balance sheet is very light, as expected for a new SPAC. It shows a small base of assets and equity and no debt in the snapshot provided. In reality, most of the IPO cash typically sits in a trust structure rather than being used for day‑to‑day operations, which is why reported operating assets and cash look limited. Financial leverage appears low, but that may change dramatically once a merger is executed and a real operating company is folded in.

Cash Flow

Cash Flow Cash flows are essentially inactive at this stage. There is no operating cash flow because there is no real business yet and there is no investment in property or equipment. Most of the relevant cash is locked in a trust and will only become meaningful to analysis when it is deployed in a business combination. For now, the cash flow statement does not give much insight into long‑term earning power or capital needs.

Competitive Edge

Competitive Edge As a SPAC, NTWO’s “product” is its ability to find and merge with an attractive private company. It does not compete in a normal industry; instead, it competes with many other SPACs and traditional IPO routes for the attention of promising private firms. Its main edge is the experience, networks, and reputation of its management and board, which are rooted in media, consumer businesses, and capital markets. That can help it source and negotiate a deal, but the ultimate competitive position will depend almost entirely on the quality of the company it eventually acquires.

Innovation and R&D

Innovation and R&D NTWO itself does not develop technology, products, or research in the traditional sense. Its “innovation” is more about deal structuring and capital markets access. The prior activities of the team, including interest in areas like media, consumer internet, and immersive digital experiences, hint at the type of innovative business they might pursue. However, until a target is formally announced, there is no concrete R&D pipeline to assess—future innovation will belong to the chosen merger partner, not to NTWO as a shell.

Summary

NTWO is at a very early, pre‑deal SPAC stage, with no operating business, no revenue, and minimal traditional financial activity. The current financial statements mainly reflect its status as a cash shell with low leverage and limited ongoing costs. The real story will only begin once management announces a specific merger target, at which point the economics, risks, and competitive dynamics of that target will define the company’s future. Until then, analysis is less about current performance and more about management’s ability to source, evaluate, and close a high‑quality deal within the allowed time frame, recognizing that outcomes are highly uncertain at this stage.