The company maintains zero revenue generation while reporting non-operating distortions, such as the $821.7K net income in 2026Q1, which masks an underlying operating loss of $240.1K.
| 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 | 1.22M | 1.22M | 162.31K |
| OpEx % of Revenue | - | - | - |
| Selling, General & Admin | 1.22M | 1.22M | 272 |
| SG&A % of Revenue | - | - | - |
| Research & Development | 0 | - | - |
| R&D % of Revenue | - | - | - |
| Other Operating Expenses | 0 | - | - |
| Operating Income | -1.22M | -1.22M | -162.31K |
| Operating Margin % | - | - | - |
| Operating Income Growth % | - | -652.85% | - |
| EBITDA | -1.22M | -1.22M | -162.16K |
| EBITDA Margin % | - | - | - |
| EBITDA Growth % | -202.47% | -653.56% | - |
| D&A (Non-Cash Add-back) | 0 | 0 | 151 |
| EBIT | -1.22M | -1.22M | -162.15K |
| Net Interest Income | -153.92K | 4.83M | 352 |
| Interest Income | -153.92K | 4.83M | 352 |
| Interest Expense | 0 | 0 | 0 |
| Other Income/Expense | 0 | - | - |
| Pretax Income | 3.45M | 3.61M | -161.8K |
| Pretax Margin % | - | - | - |
| Income Tax | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% |
| Net Income | 3.45M | 3.61M | -161.8K |
| Net Margin % | - | - | - |
| Net Income Growth % | 324.93% | 2328.36% | - |
| Net Income (Continuing) | 3.45M | 3.61M | -161.8K |
| Discontinued Operations | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
| EPS (Diluted) | 0.30 | 0.23 | 0.01 |
| EPS Growth % | 273.51% | 1642.42% | - |
| EPS (Basic) | - | 0.23 | 0.01 |
| Diluted Shares Outstanding | 11.5M | 11.5M | 6M |
| Basic Shares Outstanding | 11.5M | 11.5M | 6M |
| Dividend Payout Ratio | - | - | - |
Liquidation and redemption risk
As reported in recent financial filings, TAVI's SG&A expenses reached $240.1K in 2026Q1, reflecting a persistent burn rate that contrasts sharply with the company's lack of revenue-generating operations and the absence of any disclosed business combination target within the energy transition or food technology sectors.
The escalation in quarterly SG&A costs suggests that the company is incurring significant professional and administrative fees to maintain its public listing status. Investors should monitor whether these expenses are being subsidized by sponsors or if they are depleting the remaining cash reserves, which currently stand at a precarious $229,625.
Based on the provided income statement data, TAVI reported net income of $821.7K in 2026Q1 despite generating zero revenue, a trend that appears driven by non-operating items such as warrant liability revaluations rather than any underlying improvement in the company's core business or operational efficiency.
The disconnect between negative operating income and positive net income warrants further investigation into the accounting treatment of derivative instruments. Analysts should be cautious of these non-cash gains, as they do not represent sustainable earnings or a path toward profitability for a pre-revenue shell entity.
According to historical income statements, TAVI has consistently recorded operating losses, with 2026Q1 operating income at -$240.1K, confirming that the company lacks the scale or revenue base to demonstrate any meaningful operating leverage until a successful business combination is finalized and integrated into the public structure.
The absence of revenue means that all SG&A costs flow directly to the operating loss line, highlighting the company's reliance on external capital to sustain its existence. This structure implies that the firm's financial viability is entirely dependent on the successful execution of a merger rather than internal cost management.
As indicated by the company's financial trajectory, the combination of a $229,625 cash balance and the absence of revenue suggests that TAVI faces a high risk of liquidation if a definitive agreement is not reached before the charter-mandated deadline for a business combination expires.
Short-sellers would likely focus on the company's inability to secure a target, which may lead to a total loss of value for shareholders if the trust is liquidated. The reliance on sponsor support to cover ongoing administrative costs may indicate that the vehicle is struggling to attract the necessary capital to remain a viable public entity.
Quick answers to the most common questions about buying TAVI stock.
Tavia Acquisition Corp. (TAVI) is profitable, generating $3.6M in net income for the fiscal year ending 2025.