Quarterly ResultMay 13, 2026, 06:08 AM
GTEN Reports Q1 2026 Net Income of $6.15M; EPS $0.14
AI Summary
Gores Holdings X, Inc. reported a net income of $6.15 million for the three months ended March 31, 2026, a significant improvement from a net loss of $54,039 in the prior year period. This positive shift was primarily driven by a $3.14 million gain from the change in fair value of public warrant liabilities and $3.20 million in interest earned on investments held in the Trust Account. The company continues its search for a business combination, with $370.9 million held in its Trust Account as of the quarter-end.
Key Highlights
- Net income for Q1 2026 was $6.15 million, compared to a net loss of $(54,039) in Q1 2025.
- Basic and diluted EPS for Class A redeemable shares was $0.14 in Q1 2026.
- Cash and investments in Trust Account increased to $370.9 million as of March 31, 2026.
- Total assets reached $371.7 million as of March 31, 2026, up from $368.7 million at year-end 2025.
- Total liabilities decreased to $29.2 million as of March 31, 2026, from $32.4 million at year-end 2025.
- Shareholders' deficit improved to $(28.2) million as of March 31, 2026.
- Gain from change in fair value of public warrant liabilities was $3.14 million in Q1 2026.
- Interest earned on Trust Account investments was $3.20 million for Q1 2026.