Persistent negative free cash flow, evidenced by a $615.1K outflow in 2025Q4, highlights the company's ongoing reliance on trust capital to fund its search for a merger target.
| Cash from Operations | -1.25M | -1.28M | 0 |
| Operating CF Margin % | - | - | - |
| Operating CF Growth % | 43.68% | - | - |
| Net Income | -18.73M | -16.5M | -222 |
| Depreciation & Amortization | 0 | 0 | 0 |
| Stock-Based Compensation | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 |
| Other Non-Cash Items | 9.58M | 7.38M | 189 |
| Working Capital Changes | 7.9M | 7.84M | 33 |
| Change in Receivables | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 |
| Cash from Investing | -231.15M | -231.15M | 0 |
| Capital Expenditures | 0 | 0 | 0 |
| CapEx % of Revenue | - | - | - |
| Acquisitions | 0 | - | - |
| Investments | 241.14M | 0 | 0 |
| Other Investing | 0 | -231.15M | 0 |
| Cash from Financing | 233.75M | 233.75M | 0 |
| Debt Issued (Net) | 0 | - | - |
| Equity Issued (Net) | 229.74M | 234.25M | 0 |
| Dividends Paid | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 |
| Other Financing | 4.19M | -318.66K | 0 |
| Net Change in Cash | 1.35M | 1.33M | 0 |
| Free Cash Flow | -1.25M | -1.28M | 0 |
| FCF Margin % | - | - | - |
| FCF Growth % | - | - | - |
| FCF per Share | -0.05 | -0.07 | - |
| FCF Conversion (FCF/Net Income) | 0.07x | 0.08x | - |
| Interest Paid | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 |
Capital depletion and liquidation
As reported in financial statements, LOKV's OCF/NI ratio of 0.04 in 2025Q4 highlights a profound disconnect between accounting losses and actual cash outflows, suggesting that non-cash warrant liability adjustments are significantly distorting the perceived financial health of this shell entity during its pre-merger search phase.
The wide variance between net income and operating cash flow indicates that investors should prioritize cash burn metrics over GAAP earnings. This divergence appears to be a structural feature of the SPAC model, where non-cash revaluations obscure the reality of ongoing operational depletion.
Based on LOKV's reported figures, the company has consistently generated negative free cash flow, with a $615.1K outflow in 2025Q4 alone, underscoring the lack of internal revenue generation and the reliance on initial trust capital to fund the ongoing search for a viable business combination.
The trajectory of cash outflows suggests that the vehicle is consuming its limited liquidity to sustain professional and administrative overhead. This trend warrants further investigation into how much longer the current cash balance can support the sponsor's due diligence activities before reaching a critical threshold.
According to recent SEC filings, LOKV experienced a $793.2K working capital change in 2025Q4, which appears to reflect the erratic nature of managing professional service accruals and deferred costs inherent in the SPAC structure as the entity approaches its operational deadline for a potential merger.
The significant fluctuations in working capital suggest that the company is managing its payables tightly to preserve cash. Investors should monitor these shifts as they may indicate the timing of legal and advisory fee payments related to the pursuit of a target company.
As indicated by the company's financial filings, the reported cash balance of $1,329,433 may be misleading, as it likely fails to account for deferred underwriting commissions and potential redemption liabilities that could rapidly deplete the available capital upon the announcement of a definitive merger agreement.
The cash flow statement obscures the true cost of the sponsor's promote and the potential for significant dilution. Analysts should be cautious, as the current cash position may not represent the actual liquidity available for post-merger operations or the satisfaction of shareholder redemption requests.
Quick answers to the most common questions about buying LOKV stock.
Live Oak Acquisition Corp. V Class A Ordinary Shares (LOKV) generated $-1.3M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Live Oak Acquisition Corp. V Class A Ordinary Shares (LOKV) reported negative free cash flow of $1.3M in 2025, indicating capital requirements exceeded cash from operations.
Live Oak Acquisition Corp. V Class A Ordinary Shares (LOKV) 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.