Revenue: As of FY2026 Q2, the actual value is USD 0.

EPS: As of FY2026 Q2, the actual value is USD 0.04.

EBIT: As of FY2026 Q2, the actual value is USD -3.079 M.

Overview

Armada Acquisition Corp. II is a blank check company formed on October 3, 2024, with a focus on FinTech, Software-as-a-Service (SaaS), or artificial intelligence (AI) businesses for a potential business combination. The company has not commenced operations and does not generate operating revenues; instead, non-operating income is derived from interest on investments held in the Trust Account .

Financial Performance

Net Income (Loss)

• For the three months ended March 31, 2026, the company reported a net income of $1,131,313 .
• For the three months ended March 31, 2025, the company reported a net loss of - $706 .
• For the six months ended March 31, 2026, the company reported a net income of $527,553 .
• For the period from October 3, 2024 (inception) through March 31, 2025, the company reported a net loss of - $46,490 .

General and Administrative Costs

• For the three months ended March 31, 2026, general and administrative costs were $973,748 .
• For the three months ended March 31, 2025, general and administrative costs were $706 .
• For the six months ended March 31, 2026, general and administrative costs were $3,879,397 .
• For the period from October 3, 2024 (inception) through March 31, 2025, general and administrative costs were $46,490 .

Interest Earned on Trust Account

• Interest earned on cash and marketable securities held in the Trust Account was $2,105,061 for the three months ended March 31, 2026 .
• For the three months ended March 31, 2025, no interest was earned .
• For the six months ended March 31, 2026, interest earned was $4,406,950 .
• For the period from October 3, 2024 (inception) through March 31, 2025, no interest was earned .

Loss from Operations

• Loss from operations was - $973,748 for the three months ended March 31, 2026 .
• Loss from operations was - $706 for the three months ended March 31, 2025 .
• Loss from operations was - $3,879,397 for the six months ended March 31, 2026 .
• Loss from operations was - $46,490 for the period from October 3, 2024 (inception) through March 31, 2025 .

Cash Flow

Net Cash Used in Operating Activities

• For the six months ended March 31, 2026, net cash used in operating activities was - $272,465 .
• For the period from October 3, 2024 (inception) through March 31, 2025, net cash used in operating activities was - $25,601 .

Key Financial Position Metrics

Cash and Marketable Securities Held in Trust Account

• As of March 31, 2026, this amounted to $239,035,116 .
• As of September 30, 2025, this amounted to $234,628,166 .

Total Liabilities

• Total liabilities were $14,295,577 as of March 31, 2026 .
• Total liabilities were $10,715,994 as of September 30, 2025 .

Accumulated Deficit

• The accumulated deficit was - $14,024,825 as of March 31, 2026 .
• The accumulated deficit was - $10,145,428 as of September 30, 2025 .

Class A Ordinary Shares Subject to Possible Redemption

• As of March 31, 2026, the value was $239,035,116 .
• As of September 30, 2025, the value was $234,628,166 .

Future Outlook and Strategy

Armada Acquisition Corp. II entered into a Business Combination Agreement on October 19, 2025, with Evernorth Holdings Inc., Pathfinder Digital Assets LLC, and Ripple Labs Inc., aiming to make Evernorth Holdings Inc. a publicly traded company upon consummation . The company plans to raise additional funds through private placement transactions (PIPEs) or other capital raising methods . Management has expressed substantial doubt about the company’s ability to continue as a going concern if a business combination is not completed by November 22, 2026 .