The company has generated zero operational revenue since inception, while SG&A expenses reached $1.4 million in 2025Q4, reflecting the high cost of maintaining a public shell vehicle.
| 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 | 9.74M | 9.11M | 223 |
| OpEx % of Revenue | - | - | - |
| Selling, General & Admin | 2.84M | 2.21M | 223 |
| SG&A % of Revenue | - | - | - |
| Research & Development | 0 | - | - |
| R&D % of Revenue | - | - | - |
| Other Operating Expenses | 0 | - | - |
| Operating Income | -9.74M | -9.11M | -18.57K |
| Operating Margin % | - | - | - |
| Operating Income Growth % | - | -48974.3% | - |
| EBITDA | -9.74M | -9.11M | -18.35K |
| EBITDA Margin % | - | - | - |
| EBITDA Growth % | - | -49570.34% | - |
| D&A (Non-Cash Add-back) | 0 | 0 | 223 |
| EBIT | -9.74M | -9.11M | -18.57K |
| Net Interest Income | -346.07K | 7.89M | 0 |
| Interest Income | -346.07K | 7.89M | 0 |
| Interest Expense | 0 | 0 | 0 |
| Other Income/Expense | 0 | - | - |
| Pretax Income | -18.73M | -16.5M | -222 |
| Pretax Margin % | - | - | - |
| Income Tax | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% |
| Net Income | -18.73M | -16.5M | -222 |
| Net Margin % | - | - | - |
| Net Income Growth % | - | -7430251.8% | - |
| Net Income (Continuing) | -18.73M | -16.5M | -18.57K |
| Discontinued Operations | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
| EPS (Diluted) | -0.81 | -0.66 | -0.04 |
| EPS Growth % | - | -1379.82% | - |
| EPS (Basic) | - | -0.67 | -0.04 |
| Diluted Shares Outstanding | 23M | 19.16M | 5K |
| Basic Shares Outstanding | 23M | 19.16M | 5K |
| Dividend Payout Ratio | - | - | - |
Liquidation and deal failure
As indicated by the company's financial filings, LOKV has generated zero operational revenue since inception, reflecting its status as a pre-merger shell entity that relies entirely on interest income from its trust account to offset the ongoing costs of maintaining its public listing and sourcing potential targets.
The absence of revenue is a structural feature rather than an operational failure, as the entity is designed solely to facilitate a business combination. Investors should recognize that the current income statement provides no insight into future growth prospects, which will be entirely dependent on the financial performance of the eventual target company.
Based on reported figures, LOKV incurred SG&A expenses of $1.4 million in 2025Q4, which highlights the significant burden of professional, legal, and audit fees required to sustain the vehicle while it searches for a suitable acquisition target within a highly competitive and regulatory-sensitive SPAC market environment.
The high ratio of administrative expenses relative to the limited cash balance suggests a lean operational runway that may necessitate a swift deal conclusion to avoid capital depletion. This cost structure is inherently inefficient and serves as a direct drag on the net asset value available to shareholders.
As reported in financial statements, LOKV experienced significant volatility in net income, including a $14.4 million loss in 2025Q4, which appears to be driven by non-operating adjustments such as warrant liability revaluations rather than any underlying operational performance or fundamental changes in the company's core business model.
These accounting fluctuations can obscure the true cash burn rate and should be excluded when assessing the sponsor's ability to manage the vehicle's liquidity. Analysts should focus on the cash-based operating expenses to gauge the actual sustainability of the entity's search process.
According to recent SEC filings, the company's cash reserves have been pressured by ongoing operational costs, raising concerns that the current $1,329,433 balance may be insufficient to cover the due diligence and transaction costs required to successfully close a merger in the current, more stringent regulatory climate.
The potential for high redemption rates poses a material risk to the company's ability to provide sufficient capital to a target, which could lead to a failed deal or a forced liquidation. Investors should monitor the cash burn rate closely, as any further erosion of working capital may limit the sponsor's flexibility to negotiate favorable terms.
Quick answers to the most common questions about buying LOKV stock.
Live Oak Acquisition Corp. V Class A Ordinary Shares (LOKV) reported a net loss of $16.5M for the fiscal year ending 2025.