Iron Horse Acquisition II Swings to $1.36M Profit in Q1 FY2026

Iron Horse Acquisition II Corp., a special purpose acquisition company, reported net income of $1.36 million for the three months ending February 28, 2026, swinging from a net loss of $72,670 in the same period a year earlier. The company posted an operating loss of $277,959 for the quarter, wider than the $72,670 operating loss recorded in the prior-year period. Read more earnings reports.

The profitability turnaround came despite the larger operating loss, reflecting investment income and other non-operating gains that more than offset operational expenses. The company reported no revenue for the period.

Total assets surged to $232.4 million as of February 28, 2026, up sharply from $364,681 three months earlier. Cash and restricted cash climbed to $718,100 from just $432 as of November 30, 2025. The balance sheet expansion coincided with significant financing activity during the quarter.

Cash used in operations totaled $473,126 for the three-month period, compared to $51,470 used in operations during the prior-year quarter. Cash from financing activities brought in $231.0 million, while investing activities consumed $229.8 million during the quarter.

The company's stockholders' deficit widened to negative $10.2 million as of February 28, 2026, from negative $173,666 three months prior. Retained deficit stood at negative $10.2 million. Total liabilities rose to $11.1 million from $538,347 at the prior quarter-end.

Common shares outstanding increased to 6.32 million as of February 28, 2026, up from 5.75 million at November 30, 2025. The company reported basic and diluted earnings per share of $0.06 for the quarter, compared to a loss of $0.01 per share in the prior-year period.

Financial Summary