0001213900-26-015865
SEC filingIron Horse Acquisitions Corp. II Units (IRHOU) reported a net loss of $204K for fiscal year 2025 ending November 30, 2025, with no revenue generated during the period. The company's operations resulted in a loss from operations of $204K, driven entirely by general and administrative costs of $204K. The balance sheet shows total assets of $365K, consisting primarily of deferred offering costs ($339K) and current assets ($25K), while liabilities total $538K, including a $300K promissory note from a related party, resulting in a shareholder's deficit of $174K. Cash flow from operations was negative $143K, offset by $143K in financing activities, leaving cash of $432 at period end. As a special purpose acquisition company (SPAC), the company's performance reflects pre-business combination activities with no year-over-year comparisons available in this initial filing.
Iron Horse Acquisitions Corp. II Units reported financial results for fiscal year 2025 ending November 30, 2025, as a special purpose acquisition company (SPAC) in its pre-business combination phase. The company generated no revenue during the period and reported a net loss of $204K, which equals the loss from operations of $204K. This operating loss was entirely attributable to general and administrative costs of $204K. Basic and diluted weighted average ordinary shares outstanding were both 5.0 million shares, resulting in basic and diluted net loss per ordinary share of $0.00. No prior period financial data is provided in this initial filing for year-over-year comparison.
No revenue was generated during fiscal year 2025, as the company is a special purpose acquisition corporation that has not yet completed a business combination. The filing contains no segment breakdown, geographic mix, or revenue growth drivers, as the company's activities during the period were limited to organizational formation, initial public offering preparation, and seeking potential business combination targets. All costs incurred relate to these pre-operational activities rather than revenue-generating operations.
The company reported negative profitability metrics with no gross profit or gross margin disclosed due to the absence of revenue. Operating margin cannot be calculated as a percentage since revenue is zero, though the absolute operating loss was $204K. The cost structure consists entirely of general and administrative expenses totaling $204K, with no cost of goods sold, research and development, or sales and marketing expenses reported. The accumulated deficit increased to $206K as of the balance sheet date.
Net cash used in operating activities was $143K, primarily driven by the net loss of $204K adjusted for non-cash items including $25K in prepaid expenses and $52K in accrued expenses. Financing activities provided $143K in cash, consisting of $285K from a related party promissory note, offset by $151K in offering cost payments and other items. The balance sheet shows total assets of $365K, including $339K in deferred offering costs and $25K in current assets. Total liabilities of $538K include a $300K promissory note from a related party, resulting in a shareholder's deficit of $174K. Cash position at period end was $432.
The filing does not contain specific management guidance, strategic priorities, or forward-looking statements regarding future performance. As a SPAC, the company's primary objective is to complete an initial business combination within the required timeframe. Risk factors inherent to the SPAC structure include the uncertainty of identifying and completing a suitable business combination, dependence on management's ability to execute the strategy, and potential dilution to shareholders upon completion of a business combination. No specific financial projections or targets are disclosed in the filing.