ONE Nuclear Energy (ONEN) Q2 2025 earnings summary

Executive summary

• Incorporated as a SPAC in September 2024, focused on effecting a business combination using IPO and private placement proceeds.

• No operating revenues to date; activities limited to formation, IPO, and search for a business combination.

• IPO closed January 21, 2025, raising $190 million from 19 million units and $6.9 million from 690,000 private placement units.

Financial highlights

• Net income for Q2 2025 was $1,520,515, driven by $1,953,980 in interest income from trust account investments, offset by $448,910 in general and administrative costs.

• Net income for the six months ended June 30, 2025, was $2,538,521, with $3,448,469 in interest income and $937,945 in general and administrative costs.

• Basic and diluted EPS for Q2 2025 was $0.06 per share for all classes; for the six months, $0.11 per share.

• As of June 30, 2025, cash and cash equivalents were $1,861,192; trust account held $193,308,208.

Outlook and guidance

• Expects to continue incurring significant costs in pursuit of an acquisition; no operating revenues anticipated until a business combination is completed.

• Sufficient funds for working capital needs for at least one year from the reporting date.