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The entity exhibits a deeply negative OCF/NI ratio of -1.12 as of 2026Q1, confirming that administrative burn is outpacing the company's ability to generate internal cash.
Hennessy Capital Investment Corp. VII (HVII) cash flow statement — 2-year operating, investing & financing cash flows
| Metric | TTM | Dec'25 | Dec'24 |
|---|
| Cash from Operations | -1.65M | -1.88M | -35.41K |
| Operating CF Growth % | -31.98% | -5217.73% | - |
| Net Income | 3.7M | 3.69M | -47.95K |
| Depreciation & Amortization | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 |
| Other Non-Cash Items | -5.8M | -7.29M | 0 |
| Working Capital Changes | 456.19K | 1.72M | 12.54K |
| Cash from Investing | -189.73M | -189.67M | 0 |
| Purchase of Investments | -190M | -190M | 0 |
| Sale/Maturity of Investments | 0 | 334.72K | 0 |
| Net Investment Activity | -190M | -189.67M | 0 |
| Acquisitions | 0 | 0 | 0 |
| Other Investing | 269.2K | 0 | 0 |
| Cash from Financing | 192.44M | 192.51M | 55.42K |
| Dividends Paid | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 |
| Stock Issued | 192.59M | 192.59M | 25K |
| Net Stock Activity | 192.59M | 192.59M | 25K |
| Debt Issuance (Net) | -76.79K | -76.79K | 76.79K |
| Other Financing | 0 | 0 | -46.37K |
| Net Change in Cash | 1.06M | 964.24K | 20K |
| Exchange Rate Effect | 0 | 0 | 0 |
| Cash at Beginning | 323.22K | 20K | 0 |
| Cash at End | 259.48K | 984.25K | 20K |
| Interest Paid | 0 | 0 | 0 |
| Income Taxes Paid | 0 | 0 | 0 |
| Free Cash Flow | -1.65M | -1.88M | -35.42K |
| FCF Growth % | - | -5216.98% | - |
Quick answers to the most common questions about buying HVII stock.
Hennessy Capital Investment Corp. VII (HVII) generated $-1.9M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Hennessy Capital Investment Corp. VII (HVII) reported negative free cash flow of $1.9M in 2025, indicating capital requirements exceeded cash from operations.
Hennessy Capital Investment Corp. VII (HVII) 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.
Key Metrics
Top Statement Risk
Execution and Liquidation Risk
Metrics are mathematically derived from official filings.
Earnings Disconnect Masks Cash Burn
According to the latest financial statements, HVII reported net income of $575.6K in 2026Q1, yet generated negative operating cash flow of $644.7K, resulting in a deeply negative OCF/NI ratio of -1.12 that highlights the total absence of operational cash generation.
The persistent divergence between positive net income and negative operating cash flow suggests that accounting adjustments, likely related to warrant liabilities, are creating a misleading picture of financial health. Investors should interpret this gap as a signal that the company is consuming capital to maintain its public listing rather than generating value from operations.
Negative Free Cash Flow Trajectory
As reported in recent filings, HVII's free cash flow has remained consistently negative, with a 2026Q1 outflow of $644.7K, confirming that the entity is currently in a state of capital depletion without any offsetting revenue streams to support its administrative overhead.
The trend of deepening negative free cash flow indicates that the cost of searching for a business combination is accelerating. This trajectory suggests that the company's runway is shortening, which may force the sponsor to either secure a deal rapidly or face the prospect of liquidation.
Working Capital Volatility Signals Instability
Based on the provided data, working capital changes have fluctuated significantly, moving from a $12.0K outflow in 2025Q1 to a $448.3K inflow in 2026Q1, which appears to reflect timing differences in professional fee payments rather than operational efficiency.
These erratic swings in working capital are typical of a shell entity managing its limited liquidity to cover legal and administrative obligations. The reliance on these fluctuations to manage cash suggests that the company lacks the structural flexibility to handle unexpected costs during the target search process.
Hidden Costs Obscure True Burn
As indicated by the financial data, the company's cash flow statement fails to capture the full extent of deferred underwriting fees and potential sponsor liabilities, which remain off-balance-sheet until a successful business combination is finalized.
The reported cash flow figures likely understate the true financial burden of the SPAC structure, as these deferred costs represent a significant future claim on capital. Analysts should monitor these hidden obligations, as they may significantly dilute shareholder value upon the completion of any potential merger.