Pelican Acquisition Corporation Ordinary Shares (PELI) is reporting QQ1 2026 results in a pre-merger SPAC context typical of the sector. The quarter shows no operating revenue and a net loss of $19.553 million, driven by operating expenses of $19.937 million and a modest other income of $0.384 million. The business currently carries a substantial financing footprint, evidenced by net cash provided by financing activities of $480.197 million and a notable forex impact of $59.073 million, culminating in a net increase in cash of $440.533 million and an ending cash balance of $499.606 million. This liquidity supports the SPAC’s ongoing search for a suitable business combination, but it also masks the absence of operating earnings intrinsic to a traditional asset-management business.
Key Performance Indicators
Operating Income
Stable
-19.94K
QoQ: N/A | YoY: N/A
Net Income
Stable
-19.55K
QoQ: N/A | YoY: N/A
EPS
Stable
-0.01
QoQ: N/A | YoY: N/A
Revenue Trend
Margin Analysis
Financial Highlights
Summary of key metrics (USD millions unless noted otherwise):
- Revenue: 0 (no reported operating revenue for QQ1 2026)
- Other income: 0.384
- Operating expenses: -19.937
- EBITDA: -19.937
- EBITDARatio: N/A
- Operating income: -19.937
- Income before tax: -19.553
- Net income: -19.553
- EPS: -0.01; EPS diluted: -0.01
- Weighted average shares outstanding: 2.70 million
- Cash flow from operating activities: -39.664
- Net cash provided by (used in) financing activities: 480.197
- Net change in cash: 440.533
- Cash at end of period: 499.606
- Cash at beginning of period: 59.073
- Total assets: 670.572
- Total current assets: 501.456
- Total current liabilities: 703.341
- Short-term debt: 700.000
- Total liabilities: 703.341
- Stockholders’ equity: -32.769
- Net debt: 200.394
- Free cash flow: -39.664
- Liquidity note: Forex effects contributed 59.073 resulting in a net cash increase alongside financing activity inflows.
Income Statement
Metric
Value
YoY Change
QoQ Change
Key Financial Ratios
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