Piermont Valley Swings to $1M Net Loss in H1 FY2026

Piermont Valley Acquisition Corp, a special purpose acquisition company, reported a net loss of $1.01 million for the six months ending September 30, 2025, a sharp reversal from net income of $809,001 in the same period a year earlier. Read more earnings reports.

The company reported no revenue for the period. Operating expenses totaled $116,532 for the first half of fiscal 2026, down from $227,974 in the prior-year period. Interest and dividend income contributed $1,632 during the six-month period.

For the three months ending September 30, 2025, the company posted a net loss of $108,103, compared with net income of $362,384 in the same quarter last year. Operating expenses for the most recent quarter climbed to $82,592 from $56,640 a year earlier.

The diluted loss per share stood at $0.17 for the six-month period, compared with earnings of $0.12 per share in the prior-year period. For the most recent quarter alone, the diluted loss was $0.02 per share versus earnings of $0.05 per share a year earlier.

Balance Sheet and Cash Position

Total assets increased slightly to $2.43 million as of September 30, 2025, from $2.39 million at the end of March 2025. Cash and cash equivalents rose to $14,502 from $1,611 over the same period.

Total liabilities declined sharply to $761,825 as of September 30, 2025, from $2.04 million at the end of March 2025. Current liabilities dropped to $176,825 from $1.997 million.

The company's stockholders' deficit narrowed substantially to $746,390 at the end of the second quarter from a deficit of $2.04 million at March 31, 2025. Retained deficit improved to $746,965 from $2.04 million over the same timeframe.

Cash Flow Activity

Cash used in operations totaled $9,981 for the six months ending September 30, 2025, an improvement from $165,868 in cash used during the prior-year period. The company reported no cash flow from investing activities in either period.

Cash from financing activities amounted to $22,871 for the first half of fiscal 2026, compared with $42,780 in the year-earlier period.

The company had 144,986 common shares outstanding as of September 30, 2025, with a total of 5,952,885 shares issued and outstanding according to the filing cover page.

Key Financials