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QETA

Quetta Acquisition Corporation

QETA

Quetta Acquisition Corporation • NASDAQ
$11.11 ▼ -3.05% (-0.35)
Market Cap $41.64 M
52w High $12.09
52w Low $10.50
Dividend Yield 0%
P/E -111.1
Volume 6
Outstanding Shares 3.75M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $30K ▼ $-34.853K ▲ 0% $-0.01 ▲ $0 ▲
Q2-2025 $0 $764.199K ▲ $-607.95K ▼ 0% $-0.16 ▼ $-764.199K ▼
Q1-2025 $0 $417.102K ▲ $-194K ▼ 0% $-0.045 ▼ $-417K ▼
Q4-2024 $0 $344.088K ▲ $334.071K ▼ 0% $0.013 ▼ $-344K ▼
Q3-2024 $0 $145.512K $603.904K 0% $0.087 $-146K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $9.068K ▼ $19.003M ▼ $4.871M ▲ $14.132M ▼
Q2-2025 $225.929K ▼ $19.037M ▲ $4.87M ▲ $14.167M ▼
Q1-2025 $243.921K ▼ $18.707M ▼ $3.933M ▼ $14.775M ▼
Q4-2024 $1.555M ▲ $74.689M ▲ $4.017M ▲ $70.672M ▲
Q3-2024 $329.359K $73.685M $3.347M $70.338M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-34.853K ▲ $-295.412K ▼ $-21.449K ▲ $100K ▼ $-216.861K ▼ $-295.412K ▼
Q2-2025 $-607.95K ▼ $-201.126K ▲ $-106.866K ▼ $290K ▲ $-17.992K ▲ $-201.126K ▲
Q1-2025 $-193.671K ▼ $-1.381M ▼ $54.972M ▲ $-54.902M ▼ $-1.311M ▼ $-1.381M ▼
Q4-2024 $334.071K ▼ $-303.662K ▼ $1.029M ▲ $500K ▲ $1.225M ▲ $-303.662K ▼
Q3-2024 $603.904K $-4.973K $0 $0 $-4.973K $-4.973K

Five-Year Company Overview

Income Statement

Income Statement QETA’s current income statement reflects a typical SPAC shell structure: essentially no operating revenue and no underlying business yet. The modest positive earnings per share are likely from interest income on cash held in trust rather than from real commercial activity. Until the KM QUAD merger closes and is consolidated, these numbers say more about the financing vehicle than about any operating performance. The key earnings story will only begin once the target business is actually combined and reported inside QETA’s statements.

Balance Sheet

Balance Sheet The balance sheet is small and simple, with equity funded for a SPAC structure and no meaningful debt shown. There are no operating assets like factories, inventory, or receivables yet, because QETA has not started real business operations. Today’s balance sheet mainly represents cash or trust assets raised from investors, waiting to be deployed into the KM QUAD combination. After the merger, the balance sheet will likely change completely, reflecting KM QUAD’s production assets, working capital, and any expansion financing needs.

Cash Flow

Cash Flow Reported cash flows are effectively flat, again typical of a SPAC with no active business. There is no operating cash inflow from selling products, nor visible investment in equipment or research on QETA’s own books. Most real cash movements happen around the SPAC structure itself (trust funding, deal costs), which do not tell much about future business strength. Future cash flow quality will depend entirely on KM QUAD’s ability to turn its large production capacity and innovation pipeline into steady, recurring cash earnings.

Competitive Edge

Competitive Edge On its own, QETA has no operating competitive position; its role is simply as a listed shell. The relevant competitive profile is that of KM QUAD and its Lida Technology subsidiary, which appears to be a scale leader in China’s solar and protective film market. The target business benefits from very large production capacity, a wide distribution footprint across many Chinese cities, a long operating history, and strong brand recognition in its niche. These advantages suggest cost efficiency and deep market penetration, but they also need to be weighed against risks such as reliance on a single geography, exposure to cyclical construction and auto demand, and the challenge of expanding beyond its home market.

Innovation and R&D

Innovation and R&D The prospective merger target, KM QUAD, is heavily innovation‑driven, with its own advanced sputtering production technology and a broad portfolio of intellectual property. A dedicated research team and significant patent base support ongoing development of higher‑performance films for cars, buildings, and batteries, as well as smart films that can switch from clear to opaque. This focus on process technology and product differentiation can create a meaningful barrier to entry and help justify premium pricing or strong customer loyalty. The key uncertainty is execution: turning technical leadership and planned capacity expansions into sustainable, profitable growth in a competitive and fast‑moving materials market.

Summary

QETA today is essentially a financial shell with clean but uninformative financials—no revenue, no operations, and a simple balance sheet backed by investor capital. The real story lies in the pending merger with KM QUAD, an established Chinese advanced‑film producer with scale, technology, and a large domestic market position. If completed, the deal would transform QETA from a passive SPAC into an operating materials and protective‑films company with significant R&D depth and ambitious capacity expansion plans. The opportunity is tied to KM QUAD’s innovation pipeline, market share, and manufacturing efficiency, while the main risks center on deal completion, integration, macro and regulatory conditions in China, and the company’s ability to monetize its technology globally over time.