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POLEU

Andretti Acquisition Corp. II

POLEU

Andretti Acquisition Corp. II • NASDAQ
$10.65 ▲ 1.53% (+0.16)
Market Cap $315.65 M
52w High $11.01
52w Low $9.99
Dividend Yield 0%
P/E 0
Volume 5
Outstanding Shares 28.71M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $270.994K ▲ $2.23M ▼ 0% $0.08 ▲ $0 ▲
Q2-2025 $0 $180.616K ▼ $2.29M ▲ 0% $0.078 ▲ $-180.616K ▲
Q1-2025 $0 $192.199K ▲ $2.263M ▼ 0% $0.077 ▼ $-192K ▼
Q4-2024 $0 $176.774K ▲ $2.509M ▲ 0% $0.085 ▲ $2.509M ▲
Q3-2024 $0 $82.759K $581.366K 0% $0.02 $-82.759K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $207.47K ▼ $242.31M ▲ $9.869M ▲ $-9.487M ▼
Q2-2025 $459.437K ▼ $240.067M ▲ $9.857M ▼ $230.21M ▲
Q1-2025 $612.692K ▼ $237.806M ▲ $9.886M ▲ $227.92M ▲
Q4-2024 $234.5M ▲ $235.507M ▲ $9.851M ▼ $225.657M ▲
Q3-2024 $231.814M $233.003M $9.855M $223.148M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.23M ▼ $-251.967K ▼ $0 $0 $-251.967K ▼ $-251.967K ▼
Q2-2025 $2.29M ▼ $-153.255K ▼ $0 $0 ▲ $-153.255K ▼ $-153.255K ▼
Q4-2024 $2.509M ▲ $-75.717K ▲ $0 ▲ $-1.998K ▼ $-77.715K ▼ $-75.72K ▲
Q3-2024 $581.366K $-315.831K $-231.15M $232.342M $876.169K $-315.83K

Five-Year Company Overview

Income Statement

Income Statement This is essentially a shell company at this stage, so its income statement is very simple. It has no real revenue, no operating business, and no meaningful profits from ongoing activity. The small amount of reported earnings per share mainly reflects SPAC structure and accounting, not a functioning business. Until a merger target is announced and combined, traditional measures like sales growth, margins, or operating efficiency are not very informative here.

Balance Sheet

Balance Sheet The balance sheet is light and mostly reflects the SPAC structure rather than an operating company. Assets and equity are small in the reported data, with no conventional debt and no sizable operating assets such as plants, equipment, or receivables. In practice, what matters most for a SPAC balance sheet is the cash held in trust from the IPO and the obligation to either complete a deal or return funds, though that trust cash is not fully visible in this simple snapshot. Overall, the company currently looks lean and financially undemanding, but it also lacks productive assets until a target is acquired.

Cash Flow

Cash Flow Cash flows are minimal and mainly administrative at this stage. There is no cash generated from a business because there is no operating activity, and there is no real capital spending yet. The reported figures show no meaningful operating cash flow and no free cash flow, which is normal for a SPAC before it completes a merger. The key cash dynamic is the capital raised and held in trust, plus the future cash impact of whatever acquisition they eventually pursue.

Competitive Edge

Competitive Edge Right now, the company’s competitive position is about deal-making, not products or services. Its edge comes from the Andretti name and the experience of its leadership team, who have prior SPAC and corporate backgrounds. This reputation and network can help attract and negotiate with attractive private companies. However, the SPAC market is crowded, and many similar vehicles are competing for a limited pool of quality targets. The real competitive position will only become clear once a specific merger partner and industry are chosen.

Innovation and R&D

Innovation and R&D The company itself does not develop products, technology, or conduct traditional research and development. It is a financial vehicle designed to find and merge with an innovative operating company. The “innovation” angle, for now, lies in its strategy and in the kind of target it intends to acquire—ideally a business with strong technology, defensible advantages, and a capable management team. The sponsor team’s track record with a prior deal in advanced computing suggests they are comfortable targeting higher-tech or growth-oriented businesses, but nothing is fixed until a target is named.

Summary

Andretti Acquisition Corp. II is a classic SPAC: no revenue, no operating business, and a simple financial profile that mainly reflects cash raised and equity issued. Its near-term story is almost entirely about governance, deal sourcing, and sponsor credibility rather than financial performance. The Andretti brand and experienced executives are the main assets, potentially helping it stand out in a crowded SPAC landscape. The main uncertainty is that the entire future value will depend on the quality, price, and prospects of the company it eventually acquires. Until a merger is announced, financial statements remain thin and traditional operating analysis is limited; the real evaluation will start once a definitive target and transaction structure are disclosed.