The company maintains zero operational revenue and reported an operating loss of $364.9K in 2026Q1, reflecting a persistent reliance on administrative spending without any core business growth.
| Sales/Revenue | 0 | - | - |
| Revenue Growth % | - | - | - |
| Cost of Goods Sold | 0 | - | - |
| COGS % of Revenue | - | - | - |
| Gross Profit | 0 | 0 | 0 |
| Gross Margin % | - | - | - |
| Gross Profit Growth % | - | - | - |
| Operating Expenses | 1.19M | 1.08M | 201.65K |
| OpEx % of Revenue | - | - | - |
| Selling, General & Admin | -253.48K | 0 | 0 |
| SG&A % of Revenue | - | - | - |
| Research & Development | 0 | - | - |
| R&D % of Revenue | - | - | - |
| Other Operating Expenses | 0 | - | - |
| Operating Income | -1.19M | -1.08M | -201.65K |
| Operating Margin % | - | - | - |
| Operating Income Growth % | - | -435.83% | - |
| EBITDA | -1.19M | -1.08M | -201.65K |
| EBITDA Margin % | - | - | - |
| EBITDA Growth % | - | -435.83% | - |
| D&A (Non-Cash Add-back) | 0 | 0 | 0 |
| EBIT | -1.19M | -1.08M | -201.65K |
| Net Interest Income | 2.5M | 2.89M | 344.53K |
| Interest Income | 2.75M | 2.89M | 344.53K |
| Interest Expense | 252.29K | 0 | 0 |
| Other Income/Expense | 0 | - | - |
| Pretax Income | 1.31M | 1.81M | 142.88K |
| Pretax Margin % | - | - | - |
| Income Tax | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% |
| Net Income | 1.31M | 1.81M | 142.88K |
| Net Margin % | - | - | - |
| Net Income Growth % | - | 1166.13% | - |
| Net Income (Continuing) | 1.31M | 1.81M | 142.88K |
| Discontinued Operations | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
| EPS (Diluted) | 0.75 | 0.20 | 0.02 |
| EPS Growth % | - | 1036.36% | - |
| EPS (Basic) | - | 0.20 | 0.02 |
| Diluted Shares Outstanding | 1.75M | 6.9M | 8.13M |
| Basic Shares Outstanding | 1.75M | 6.9M | 8.13M |
| Dividend Payout Ratio | - | - | 241.14% |
Liquidity and insolvency risk
As indicated by the company's financial filings, HSPT has reported zero revenue across all observed periods, confirming its status as a pre-combination shell entity with no active business operations or organic growth drivers to support its current public listing status.
The lack of top-line activity is consistent with the SPAC business model, yet it underscores the speculative nature of the investment. Investors should monitor the absence of revenue as a primary indicator that the vehicle remains entirely dependent on external sponsor capital to sustain its corporate existence.
According to historical income statements, the company's cost structure is exclusively comprised of administrative and compliance-related expenses, with recent filings showing an operating loss of $364.9K in 2026Q1 as the firm continues to consume capital without any offsetting operational income.
The cost profile reflects the necessary friction of maintaining a public listing, including legal and audit fees. This expense discipline is effectively non-existent, as these costs are mandatory for regulatory compliance rather than discretionary operational investments.
Based on reported figures, HSPT has exhibited erratic net income fluctuations, including a $500.1K profit in 2025Q4 followed by a $29.1K loss in 2026Q1, which suggests that earnings are driven by non-operating accounting adjustments rather than core business performance.
These swings likely stem from the revaluation of financial instruments or warrant liabilities common in SPAC accounting. Analysts should treat these earnings figures as noise, as they do not represent sustainable profitability or operational health.
As reported in recent financial statements, the company's cash position has dwindled to a mere $7,917, which suggests that the entity may face significant liquidity constraints in meeting its ongoing regulatory and listing obligations without immediate sponsor intervention.
This precarious cash level raises questions regarding the sponsor's commitment or capacity to continue funding the vehicle. The risk of insolvency or forced liquidation appears elevated, warranting extreme caution for any market participants evaluating the company's long-term viability.
Quick answers to the most common questions about buying HSPT stock.
Horizon Space Acquisition II Corp. (HSPT) is profitable, generating $1.8M in net income for the fiscal year ending 2025.