Teamshares (TMS) Q3 2025 earnings summary

Executive summary

• Blank check company focused on completing a business combination; no operating revenues to date, only interest income from trust account investments.

• IPO completed March 3, 2025, raising $230M from 23M units and $4.5M from private placement warrants.

• Net income of $2.1M for Q3 2025, net loss of $2.1M for the nine months ended September 30, 2025.

Financial highlights

• Q3 2025: Interest income of $2.45M, operating costs of $339K, net income of $2.1M.

• Nine months ended September 30, 2025: Interest income of $5.6M, operating costs of $7.7M, net loss of $2.1M.

• $236.8M held in trust account as of September 30, 2025.

• Cash and cash equivalents outside trust: $1.95M.

Outlook and guidance

• Focus remains on identifying and completing a business combination within the required period.

• May seek to extend the combination period if needed, subject to shareholder approval and Nasdaq rules.

• No assurance of successful completion of a business combination.