Revenue: As of FY2025, the actual value is USD 0.EPS: As of FY2025, the actual value is USD 0.08.EBIT: As of FY2025, the actual value is USD -1.402 M.<h4>Operating Results</h4><ul><li>Net Income (Loss): Concord Acquisition Corp II reported a net income of $556,003 for the year ended December 31, 2025, compared to a net loss of - $766,076 for the year ended December 31, 2024.</li><li>Operating Costs: Operating costs were $1,265,443 for the year ended December 31, 2025, decreasing from $2,150,265 for the year ended December 31, 2024.</li><li>Income from Cash and Investments Held in Trust Account: This income was $136,267 for the year ended December 31, 2025, a significant decrease from $3,400,717 for the year ended December 31, 2024.</li><li>Change in Fair Value of Capital Contribution Note: The change in fair value was $1,578,927 for the year ended December 31, 2025, compared to - $2,370,533 for the year ended December 31, 2024.</li><li>Excess of Fair Value of Capital Contribution Note over Initial Principal Balance at Issuance: This was $0 for the year ended December 31, 2025, compared to - $565,079 for the year ended December 31, 2024.</li><li>Change in Fair Value of Warrant Liability: This change resulted in a gain of $132,576 for the year ended December 31, 2025, compared to a gain of $1,193,927 for the year ended December 31, 2024.</li><li>Provision for Income Taxes: The company incurred a provision for income taxes of - $26,324 for the year ended December 31, 2025, compared to - $672,158 for the year ended December 31, 2024.</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Used in Operating Activities: Net cash used in operating activities was - $928,608 for the year ended December 31, 2025, an improvement from - $1,546,455 for the year ended December 31, 2024.</li><li>Net Cash Provided by Investing Activities: Net cash provided by investing activities was $23,828,025 for the year ended December 31, 2025, compared to $133,538,434 for the year ended December 31, 2024.</li><li>Net Cash Used in Financing Activities: Net cash used in financing activities was - $23,240,518 for the year ended December 31, 2025, compared to - $131,817,234 for the year ended December 31, 2024.</li></ul><h4>Liquidity and Capital Resources</h4><ul><li>Cash Held Outside Trust Account: As of December 31, 2025, cash held outside the Trust Account was $196,869, down from $537,970 as of December 31, 2024.</li><li>Cash Held in Trust Account: As of December 31, 2025, cash held in the Trust Account was $99,373, significantly reduced from $23,791,131 as of December 31, 2024.</li><li>Excise Tax Liability: As of December 31, 2025, the company had an excise tax liability of $2,856,011 (including $405,636 in interest and penalties), with approximately $2,300,000 due on April 30, 2025, and cumulative payments of $475,000 made, an increase from $2,463,780 as of December 31, 2024.</li><li>Due to Related Party: Amounts due to a related party were $484,834 as of December 31, 2025, up from $244,592 as of December 31, 2024.</li><li>Accounts Payable and Accrued Expenses: These totaled $2,724,624 as of December 31, 2025, compared to $2,502,629 as of December 31, 2024.</li><li>Deferred Underwriters’ Commission: This remained at $343,120 as of both December 31, 2025, and December 31, 2024.</li><li>Warrant Liability: The warrant liability decreased to $604,253 as of December 31, 2025, from $736,829 as of December 31, 2024.</li><li>Capital Contribution Note, at Fair Value: The fair value of the Capital Contribution Note was $1,956,685 as of December 31, 2025, decreasing from $3,535,612 as of December 31, 2024.</li><li>Class A Common Stock Subject to Possible Redemption: As of December 31, 2025, 8,550 shares were subject to redemption at $14.84 per share, totaling $126,845, significantly lower than 2,200,303 shares at $10.81 per share, totaling $23,793,335, as of December 31, 2024.</li><li>Proceeds from Events.com (Interim Financing): Concord Acquisition Corp II received $525,000 from Events.com in 2025 and $775,000 in 2024 as part of an Interim Financing agreement.</li></ul><h4>Outlook / Guidance</h4>Concord Acquisition Corp II has extended its deadline to complete a Business Combination to December 31, 2026. The company is currently past the Outside Date for its Merger Agreement with Events.com and is negotiating an amendment, with no assurance that an extension will be agreed upon. Management has determined that mandatory liquidation, if a Business Combination does not occur, and potential subsequent dissolution, along with potential insufficient funds, raise substantial doubt about the company’s ability to continue as a going concern.

Concord Acquisition II | 10-K: FY2025 Revenue: USD 0