The company continues to report zero revenue while administrative expenses have climbed to $252.7K in 2026Q1, confirming the absence of any operational leverage.
Plum Acquisition Corp. IV (PLMK) annual income statement — 2-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 |
|---|
| Net Interest Income | 5.17M | 7.07M | 0 |
| NII Growth % | -102.46% | - | - |
| Net Interest Margin % | 2.8% | 3.89% | 0% |
| Interest Income | 5.17M | 7.07M | 0 |
| Interest Expense | 0 | 0 | 0 |
| Loan Loss Provision | 0 | 0 | 0 |
| Non-Interest Income | -5.17M | -7.07M | 0 |
| Non-Interest Income % | - | - | - |
| Total Net Revenue | 0 | 0 | 0 |
| Revenue Growth % | - | - | - |
| Non-Interest Expense | 1.84M | 1.02M | 92 |
| Efficiency Ratio | - | - | - |
| Operating Income | -1.84M | -1.02M | -92 |
| Operating Margin % | - | - | - |
| Operating Income Growth % | - | - | - |
| Pretax Income | 5.02M | 6.05M | -92 |
| Pretax Margin % | - | - | - |
| Income Tax | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% |
| Net Income | 5.02M | 6.05M | -92 |
| Net Margin % | - | - | - |
| Net Income Growth % | 81.34% | - | - |
| Net Income (Continuing) | 5.02M | 6.05M | -92 |
| EPS (Diluted) | 271.30 | 0.34 | -0.00 |
| EPS Growth % | 25987.38% | - | - |
| EPS (Basic) | - | 0.34 | -0.00 |
| Diluted Shares Outstanding | 18.49K | 17.73M | 24.24M |
Quick answers to the most common questions about buying PLMK stock.
For fiscal year 2025, Plum Acquisition Corp. IV (PLMK) reported total revenue of $0.0M.
Plum Acquisition Corp. IV (PLMK) is profitable, generating $6.1M in net income for the fiscal year ending 2025.
Key Metrics
Top Statement Risk
Liquidation and deal failure
Metrics are mathematically derived from official filings.
Escalating Administrative Search Expenses
As reported in recent financial filings, PLMK's quarterly SG&A expenses have climbed from negligible levels in 2024 to approximately $252.7K by 2026Q1, reflecting the mounting costs of maintaining a public listing while the sponsor actively pursues a suitable business combination within the enterprise software sector.
The steady rise in SG&A indicates that the vehicle is incurring standard operational overhead associated with SEC compliance and deal-sourcing activities. Investors should monitor whether these administrative costs accelerate further, as they directly erode the capital available for a potential merger target.
Non-Operating Income Distorts Earnings
Based on the company's income statement, the reported net income of $1.2M in 2026Q1 appears disconnected from its operating losses, suggesting that interest income or other non-operating items are masking the underlying cash burn inherent in the pre-revenue SPAC structure.
The positive net income figures are likely driven by interest earned on the trust account rather than operational success. Analysts should strip out these non-operating gains to accurately assess the true burn rate and the sustainability of the current search phase.
Operating Leverage Remains Non-Existent
According to the provided quarterly data, PLMK continues to report zero revenue and consistent operating losses, confirming that the entity lacks any operational leverage until a definitive business combination is successfully consummated and the company transitions into an active operating entity.
The absence of revenue means that every dollar of SG&A directly impacts the bottom line, leaving no room for operational efficiency gains. The current structure is purely a cost-center model where management's primary objective is to preserve capital until a target is identified.
Capital Preservation Risks Loom Large
As indicated by the reported cash and equivalents of only $296,249, the company faces significant liquidity constraints that may force management into a suboptimal deal to avoid liquidation, a risk that short-sellers would likely highlight given the current cooling of the SPAC market.
The limited cash position suggests that the sponsor may be nearing the end of its runway for independent search operations. Investors should be wary of the potential for 'deal urgency,' which may lead to the acquisition of a lower-quality asset simply to satisfy the merger deadline.