Technology & Telecommunication Acquisition Corp Swings to $148,317 Loss in Q1 2026

Technology & Telecommunication Acquisition Corp, a special purpose acquisition company, reported a net loss of $148,317 for the three months ended February 28, 2026, a sharp reversal from net income of $67,961 in the same period a year earlier. The loss translates to $0.04 per share, compared to earnings of $0.01 per share in the prior-year quarter. Read more earnings reports.

The company reported no revenue for the quarter. Formation and operating costs totaled $149,585 for the three months ended February 28, 2026, down 18% from $183,093 in the year-ago period.

Interest earned on cash and investments held in the trust account collapsed to $1,268 from $251,054 in the prior-year quarter, a 99% decline that contributed to the swing to a loss. The trust account held $142.4 million as of February 28, 2026, compared to $142.5 million at November 30, 2025.

Total liabilities climbed to $10.7 million at quarter-end from $10.5 million three months earlier, driven by a $70,347 increase in the working capital loan to $1.4 million. The company also carries a $2.8 million extension loan and a $4.0 million deferred underwriter commission.

The company held just $85 in cash at February 28, 2026, down from $340 at November 30, 2025. Operating activities consumed $70,602 in cash during the quarter, while the company drew $70,347 from a working capital loan and withdrew $1,381 from the trust account in connection with redemptions.

The accumulated deficit widened to $10.6 million at February 28, 2026, from $10.5 million at November 30, 2025. Shareholders' deficit stood at $10.6 million, with 3.4 million Class A ordinary shares outstanding.

Accounts payable and accrued liabilities rose to $2.4 million from $2.3 million during the quarter. The weighted average number of Class A ordinary shares outstanding dropped to 3.4 million from 5.1 million in the prior-year quarter.