Quarterly ResultMay 14, 2026, 04:14 PM
Compass Digital Q1 Net Loss $2.63M; Liabilities Surge
AI Summary
Compass Digital Acquisition Corp. reported a net loss of $2.63 million for the first quarter of 2026, a substantial increase from $0.48 million in the same period last year, primarily driven by a significant negative change in the fair value of derivative warrant liabilities. Total liabilities surged to $12.12 million as of March 31, 2026, up from $9.51 million at the end of 2025. The company also extended its Combination Period to July 20, 2026, as it continues efforts to complete a business combination, including the KMC Business Combination.
Key Highlights
- Net loss for Q1 2026 was $2.63 million, a significant increase from $0.48 million in Q1 2025.
- Total liabilities increased to $12.12 million as of March 31, 2026, from $9.51 million at December 31, 2025.
- Derivative warrant liabilities surged to $2.14 million as of March 31, 2026, from $0.24 million at December 31, 2025.
- Cash held in the Trust Account slightly increased to $1.30 million as of March 31, 2026, from $1.29 million.
- Working Capital Loans increased to $1.83 million as of March 31, 2026, from $1.69 million at December 31, 2025.
- The Combination Period was extended to July 20, 2026, following shareholder approval at the April 14, 2026 EGM.
- Interest earned on cash in the Trust Account decreased to $8,913 in Q1 2026 from $242,531 in Q1 2025.