Quarterly ResultMay 14, 2026, 05:12 PM
1RT Acquisition Corp. Q1 Net Income $1.37M
AI Summary
1RT Acquisition Corp. reported a net income of $1,373,848 for the three months ended March 31, 2026, a significant improvement from a net loss of $(31,000) in the prior year period. This positive financial performance was primarily driven by $1,546,358 in interest earned on marketable securities held in its Trust Account. As a blank check company, 1RT Acquisition Corp. continues to focus on identifying a target for a business combination. However, the company also noted a going concern uncertainty due to its liquidity condition, which management plans to address through a business combination.
Key Highlights
- Net income for Q1 2026 was $1,373,848, up from a $(31,000) net loss in Q1 2025.
- Interest earned on marketable securities in Trust Account totaled $1,546,358 for Q1 2026.
- Total Assets increased to $177,775,951 as of March 31, 2026, from $176,383,931 at Dec 31, 2025.
- Marketable securities in Trust Account reached $177,409,984 as of March 31, 2026.
- Cash held outside the Trust Account was $191,060 as of March 31, 2026.
- Shareholders' Deficit increased to $(8,009,206) as of March 31, 2026.
- General and administrative costs rose to $172,510 for Q1 2026 from $31,000 in Q1 2025.
- Management noted substantial doubt about the company's ability to continue as a going concern.