Enhanced Group (ENHA) Q1 2026 earnings summary

Executive summary

• Entered into a Business Combination Agreement with Enhanced Ltd and Merger Sub, with plans to domesticate from BVI to Texas and rename as Enhanced Group Inc. upon closing.

• Shareholders approved the business combination and related proposals at the May 1, 2026 EGM; 19.6 million Class A shares were tendered for redemption.

• No operating revenues to date; activities focused on IPO, identifying a target, and progressing toward the business combination.

Financial highlights

• Net income for Q1 2026 was $1,419,174, compared to a net loss of $34,600 in Q1 2025.

• Interest income for Q1 2026 was $1,793,413, offset by $374,239 in general and administrative expenses.

• As of March 31, 2026, cash was $428,394 and investments held in trust were $205.1 million.

• Working capital deficit stood at $4,227 as of March 31, 2026.

Outlook and guidance

• The company expects to continue incurring significant costs as a public entity and in pursuit of the business combination.

• If unable to complete the business combination by July 31, 2027, the company will liquidate and dissolve.