Detailed financial statements for GigCapital7 Corp. (GIG): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
GigCapital7 Corp. functions as a special purpose acquisition company (SPAC), also known as a blank check company. Its sole mandate is to identify and complete a business combination, which could manifest as a merger, amalgamation, share exchange, asset acquisition, share purchase, or reorganization, with one or more target enterprises.
Analysis Summary
Trailing-twelve-month margins: gross margin 33.4%, operating margin -44.4%, net margin -34.5%.
At the current price of $5.16, GIG has negative trailing earnings (P/E not meaningful) and an ROE of -4.13%. Market capitalisation stands at $172M.
Balance sheet quality for GIG: current ratio of 1.8, net cash position of $62.8M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is below average: free cash flow of -$42.5M represents -1110% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2024 | 2025 |
|---|---|---|
| Revenue | 0 | $127.7M |
| Cost of Revenue | 0 | $99.2M |
| Gross Profit | 0 | $28.5M |
| Research & Development | 0 | $16.8M |
| Selling, General & Admin | $628761 | $3.3M |
| Operating Expenses | $628761 | $3.3M |
| Operating Income | -$628761 | -$3.3M |
| EBITDA | $2.4M | $11.9M |
| Interest Expense | 0 | 0 |
| Pre-tax Income | $2.4M | $3.8M |
| Income Tax | 0 | 0 |
| Net Income | $2.4M | $3.8M |
| EPS | $0.07 | $0.11 |
| EPS (Diluted) | $0.10 | $0.11 |
| Shares Outstanding (Diluted) | $233.6M | $3.59B |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Revenue | 0 | 0 | $34.4M | $36.7M |
| Gross Profit | 0 | 0 | $11.7M | $12.1M |
| Operating Income | -$1.3M | -$1.3M | -$1.7M | -$27.4M |
| EBITDA | -$1.3M | $2.9M | -$1.7M | -$27.4M |
| Net Income | -$212080 | $875245 | $535601 | -$25.7M |
| EPS | $-0.01 | $0.00 | $0.02 | $-0.05 |
| EPS (Diluted) | $-0.01 | $0.00 | $0.02 | $-0.05 |
Balance Sheet (10y)
| Year | 2024 | 2025 |
|---|---|---|
| Cash & Equivalents | $1.3M | $87.1M |
| Short-term Investments | 0 | 0 |
| Receivables | 0 | $22.7M |
| Inventory | 0 | 0 |
| Total Current Assets | $1.6M | $330.5M |
| Property, Plant & Equipment | 0 | $8.6M |
| Goodwill | 0 | $241.1M |
| Intangible Assets | 0 | $139.5M |
| Total Assets | $204.8M | $894.5M |
| Accounts Payable | $25439 | $6.1M |
| Short-term Debt | 0 | $17.7M |
| Total Current Liabilities | $173487 | $185.5M |
| Long-term Debt | 0 | $6.7M |
| Total Liabilities | $203.5M | $282.7M |
| Retained Earnings | $1.3M | -$865.6M |
| Total Equity | $1.3M | $611.9M |
| Total Debt | 0 | $24.3M |
| Net Debt | -$1.3M | -$62.8M |
| Working Capital | $1.4M | $145.0M |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Cash & Equivalents | $405404 | $87.1M | $100.7M | $36.3M |
| Total Assets | $210.2M | $894.5M | $861.7M | $841.3M |
| Total Liabilities | $2.9M | $282.7M | $71.3M | $71.0M |
| Total Equity | $207.4M | $611.9M | $790.4M | $770.3M |
| Total Debt | 0 | $24.3M | $24.1M | $22.8M |
Cash Flow (10y)
| Year | 2024 | 2025 |
|---|---|---|
| Net Income | $2.4M | -$293.9M |
| Depreciation & Amortization | 0 | $15.3M |
| Stock-based Compensation | 0 | $23.3M |
| Change in Working Capital | -$195177 | $2.2M |
| Operating Cash Flow | -$821914 | -$42.0M |
| Capital Expenditure | $821914 | -$525000 |
| Acquisitions | 0 | -$229.0M |
| Stock Repurchased | 0 | 0 |
| Dividends Paid | 0 | 0 |
| Free Cash Flow | -$821914 | -$42.5M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|---|---|---|---|
| Operating Cash Flow | -$205296 | -$21.8M | -$182670 | -$40.2M |
| Capital Expenditure | 0 | -$252000 | 0 | -$635000 |
| Free Cash Flow | -$205296 | -$22.1M | -$182670 | -$40.8M |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | 0 | $6.3M | 0 | $8.2M |
Growth & Margins (10y)
| Year | 2024 | 2025 |
|---|---|---|
| Net Income Growth (YoY) | +60.8% | |
| EPS Growth (YoY) | +54.1% | |
| Shares Change (YoY) | +1435.9% | |
| FCF Growth (YoY) | -5067.9% | |
| Gross Margin | 22.3% | |
| Operating Margin | -2.6% | |
| EBITDA Margin | 9.4% | |
| Net Margin | 3.0% | |
| FCF Margin | -33.3% | |
| Effective Tax Rate | 0.0% | 0.0% |
Per-Share Data (10y)
| Year | 2024 | 2025 |
|---|---|---|
| FCF Per Share | $-0.00 | $-0.01 |
| Dividends Per Share | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $233.6M | $358.8M |
What to look at in Financial Services
Asset managers, brokers, fintech, exchanges. They are not banks — look at AUM, fees and FCF quality.
- 5y revenue growth — Without growth, there is no long-term value creation
- Operating margin — Good asset managers have >30% margins thanks to scalability
- ROE — Quality financial services have a consistent ROE >15%
- FCF / Net Income — Earnings quality — >90% expected in capital-light businesses
- Debt / Equity — Fintech and brokers with high D/E are time bombs in crises
- P/E vs own 5y — Asset managers have stable multiples in well-known ranges
- Dividend yield + buybacks — These businesses return a lot of capital — look at total yield (div + buybacks)
Profitability
| Return on Equity | -4.13% |
| Return on Invested Capital | -3.99% |
| Return on Assets | -2.92% |
| Gross Margin | 33.40% |
| Operating Margin | -44.42% |
| Net Margin | -34.49% |
Financial Health
| Debt / Equity | 0.03 |
| Current Ratio | 5.67 |
Key Ratios (10y)
| Year | 2024 | 2025 |
|---|---|---|
| P/E | 140.06 | 95.82 |
| P/B | 1766.16 | 6.18 |
| P/S | 0.00 | 29.62 |
| Gross Margin | 0.0% | 22.3% |
| Operating Margin | 0.0% | -2.6% |
| Net Margin | 0.0% | 3.0% |
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