Operational cash flow remains consistently negative, evidenced by a 2026Q1 OCF/NI ratio of -2.50, indicating that accounting profits are decoupled from the actual cash burn required for deal sourcing.
| Cash from Operations | -268.71K | -307.8K | -20.36K |
| Operating CF Growth % | -3803.81% | -1412.07% | - |
| Net Income | 1.2M | 2.07M | 640.34K |
| Depreciation & Amortization | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 |
| Other Non-Cash Items | -2.81M | -2.38M | -665.05K |
| Working Capital Changes | 48.37K | 0 | 4.36K |
| Cash from Investing | -191.47K | 0 | -8.03M |
| Purchase of Investments | 0 | 0 | -57.79M |
| Sale/Maturity of Investments | 0 | 0 | 0 |
| Net Investment Activity | 0 | 0 | -57.79M |
| Acquisitions | 0 | 0 | 0 |
| Other Investing | -191.47K | 0 | 49.76M |
| Cash from Financing | 191.45K | 0 | 8.24M |
| Dividends Paid | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 |
| Stock Issued | 2.23K | 0 | 8.24M |
| Net Stock Activity | 2.23K | 0 | 8.24M |
| Debt Issuance (Net) | 0 | 0 | 0 |
| Other Financing | 189.24K | 0 | 0 |
| Net Change in Cash | -268.71K | -307.8K | 182.55K |
| Exchange Rate Effect | 0 | 0 | -2.6K |
| Cash at Beginning | 1.02M | 1.33M | 0 |
| Cash at End | 873.74K | 1.02M | 182.55K |
| Interest Paid | 0 | 0 | 0 |
| Income Taxes Paid | 0 | 0 | 0 |
| Free Cash Flow | -268.71K | -307.8K | -146.5K |
| FCF Growth % | -28.72% | -110.1% | - |
Liquidation timeline expiration risk
As reported in financial statements, FVN consistently exhibits a negative relationship between net income and operating cash flow, with the 2026Q1 OCF/NI ratio of -2.50 highlighting that reported accounting profits are entirely decoupled from the actual cash burn required to maintain the entity's shell status.
The divergence between net income and operating cash flow suggests that reported earnings are heavily influenced by non-operating interest income from the trust account rather than operational performance. Investors should interpret this as a signal that the company's accounting profitability does not reflect the underlying cash-consuming nature of its search for a business combination.
Based on FVN's reported figures, the company has maintained a consistent negative free cash flow trajectory, with the most recent 2026Q1 period showing a cash outflow of $151.0K, underscoring the ongoing depletion of working capital as the entity continues its search for a viable merger target.
The persistent negative free cash flow indicates that the entity is effectively consuming its liquid assets to fund administrative and compliance overhead. This trend appears to be accelerating in recent quarters, which may imply that the cost of maintaining the SPAC structure is rising as the search period extends.
According to recent SEC filings, FVN's working capital dynamics show significant quarter-to-quarter volatility, with a $51.4K inflow in 2025Q2 followed by a $3.0K outflow in 2025Q4, suggesting that the entity's cash management is highly sensitive to the timing of professional service payments and regulatory compliance costs.
The erratic nature of working capital changes suggests that the company lacks a stable operational cycle, which is expected for a shell entity. Analysts should monitor these fluctuations as they may indicate the timing of legal and audit expenses associated with potential deal-sourcing activities.
As evidenced by the cash flow data, the absence of capitalized costs or stock-based compensation adjustments suggests that the reported cash burn is primarily driven by direct administrative expenses, which may obscure the true cost of the sponsor's due diligence efforts on potential acquisition targets.
The lack of non-cash adjustments in the cash flow statement implies that the reported burn rate is a clean representation of the entity's operational costs. However, this may also suggest that the sponsor is not currently deferring any costs, which could lead to a more rapid depletion of cash reserves if a deal is not finalized soon.
Quick answers to the most common questions about buying FVN stock.
Future Vision II Acquisition Corp. (FVN) generated $-0.3M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Future Vision II Acquisition Corp. (FVN) reported negative free cash flow of $0.3M in 2025, indicating capital requirements exceeded cash from operations.
Future Vision II Acquisition Corp. (FVN) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.