Reported Q: Q3 2024 Rev YoY: N/A EPS YoY: +3,045.8% Move: -0.10%
IB Acquisition Corp. Unit
IBACU
$10.05 -0.10%
Exchange NASDAQ Sector Financial Services Industry Shell Companies
Q3 2024
Published: Aug 14, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for IBACU

Reported

Report Date

Aug 14, 2024

Quarter Q3 2024

Revenue

N/A

YoY: N/A

EPS

0.07

YoY: +3,045.8%

Market Move

-0.10%

Previous quarter: Q2 2024

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Earnings Highlights

  • EPS of $0.07 increased by 3% from previous year
  • Net income of 1.11M
  • "N/A" - N/A
IBACU
Company IBACU

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Executive Summary

IB Acquisition Corp. Unit reported Q3 2024 results that show a positive net income of $1,113,467 despite the absence of disclosed revenue for the quarter. The quarter was driven by notable other income of $1,504,700 and modest operating expenses totaling $76,379, with operating and EBITDA reflecting a loss of $76,379. On a per-share basis, basic/diluted earnings per share (EPS) were $0.0707. The balance sheet demonstrates a strong liquidity position, highlighted by cash and equivalents of $876,649 and a substantial non-current asset base dominated by long-term investments of $117,079,700, yielding total assets of $118,394,455 and equity of $118,042,101. The company carries no reported debt and reports a net cash position of $-876,649 (i.e., net cash of $876,649), implying a net cash surplus despite operating losses. Liquidity ratios are robust (current ratio 3.51, cash ratio 2.49). The revenue profile remains non-existent for the quarter, which is characteristic of SPAC-shell structures that pursue a single completed business combination rather than organic revenue growth. YoY comparisons show extraordinary gains in net income and EPS (net income YoY +16,718.9%, EPS YoY +3,045.8%), driven by the non-operating income base rather than ongoing operating performance. The key investment implication is that the near-term earnings quality is modest due to no revenue generation, while the prospective value creation hinges on a successful and value-enhancing merger or acquisition and prudent management of the large investment portfolio.

Key Performance Indicators

Operating Income
Decreasing
-76.38K
QoQ: 0.00% | YoY: -1 039.99%
Net Income
Increasing
1.11M
QoQ: 0.00% | YoY: 16 718.91%
EPS
Increasing
0.07
QoQ: 1.00% | YoY: 3 045.83%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 0.00 0.05 +0.0% View
Q4 2024 0.00 0.06 +0.0% View
Q3 2024 0.00 0.07 +0.0% View
Q2 2024 0.00 0.07 +0.0% View
Q1 2024 0.00 -0.01 +0.0% View