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POLEW

Andretti Acquisition Corp. II

POLEW

Andretti Acquisition Corp. II • NASDAQ
$0.30 ▲ 0.00% (+0.00)
Market Cap $7.13 M
52w High $0.30
52w Low $0.30
Dividend Yield 0%
P/E 0
Volume 138
Outstanding Shares 23.76M

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% $0.08 ▲ $-180.616K ▲
Q1-2025 $0 $192.199K ▲ $2.263M ▼ 0% $0.077 ▼ $-192.199K ▼
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 $798.454K ▼ $235.507M ▲ $9.851M ▼ $225.657M ▲
Q3-2024 $876.169K $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 ▲
Q1-2025 $2.263M ▼ $-185.762K ▼ $0 $0 ▲ $-185.762K ▼ $-185.762K ▼
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 POLEW is a newly formed SPAC, so its income statement is more of an accounting formality than a reflection of a real operating business. It has essentially no revenue and no ongoing operations, so traditional ideas like sales growth, margins, and operating profit do not apply yet. Any reported earnings per share are largely driven by SPAC-specific items such as interest on funds held in trust, not by a business generating products or services. Until a merger is announced and completed, the income statement tells very little about long‑term earning power.

Balance Sheet

Balance Sheet The balance sheet looks like a typical SPAC: mostly financial assets raised from investors, very little in the way of physical assets, and no operating debt. Equity represents the capital base the team will use to pursue a merger. The key point is that this is a cash-and-securities structure waiting to be combined with a real operating company. The strength of the balance sheet today is simply that it is clean and uncomplicated, but it will change dramatically once a target company is acquired.

Cash Flow

Cash Flow Cash flows are minimal and mostly administrative at this stage. There is no meaningful cash coming in from customers or going out for production, marketing, or research because the company does not yet operate a business. Cash movements are largely tied to IPO proceeds and routine corporate costs. The real test of cash generation and cash use will only appear after a merger, when an operating company’s cash flows are combined with this SPAC structure.

Competitive Edge

Competitive Edge As a SPAC, POLEW’s competitive position is about its ability to source and close an attractive deal, not about market share or product strength. The Andretti name and network in motorsports and automotive industries provide a notable edge in attracting potential targets, especially in advanced mobility, electric vehicles, and performance-related technologies. The team’s prior SPAC experience and mix of corporate, financial, and industry backgrounds are clear advantages. That said, the SPAC market is crowded, timelines are limited, and regulatory and market scrutiny of SPACs has increased, so competition for quality targets and successful deal execution remains intense.

Innovation and R&D

Innovation and R&D POLEW does not conduct classic research and development because it is not an operating business. Its “innovation” angle comes from the type of company it aims to merge with. The stated focus on advanced mobility, electric and autonomous technologies, and high-performance automotive niches suggests a pipeline of potential targets with strong innovation profiles. The Andretti brand, combined with prior SPAC experience taking an AI company public, supports an image of a sponsor group seeking cutting-edge technology businesses rather than mature, low-growth assets. Any real R&D story, however, will belong to the eventual merger partner, not to POLEW itself.

Summary

POLEW is essentially a financial shell with a well-known sponsor group, not a traditional operating company. Its current financial statements are simple and mostly reflect cash raised and basic corporate costs, offering little insight into future business performance. The core of the story lies in the management team’s reputation, networks, and stated strategy to find a high-growth automotive or mobility-related technology company. Until a merger is identified and detailed, the main uncertainties are which company will be chosen, on what terms, and how attractive that combined business will be in a more skeptical SPAC environment. In short, today’s analysis is about sponsor quality and strategic focus; the real business and financial profile will only emerge after a successful acquisition.