FTAC Emerald (FLD) | Financial Analysis & Statements
FTAC Emerald Acquisition Corp. Micro-cap Financial Services
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
9.1M
Gross Profit
-3.0M
-32.74%
Operating Income
-6.0M
-65.32%
Net Income
-34.7M
-379.93%
Balance Sheet Metrics
Total Assets
153.5M
Total Liabilities
90.5M
Shareholders Equity
63.0M
Debt to Equity
1.44
Cash Flow Metrics
Operating Cash Flow
-33.0M
Free Cash Flow
-5.0M
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
FTAC Emerald Income Statement From 2022 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Revenue | 31.8M | 0 | 0 | 28.9M |
| Cost of Goods Sold | 47.4M | - | 3.9M | 3.8M |
| Gross Profit | -15.6M | - | 17.7M | 25.1M |
| Gross Margin % | -49.0% | 0.0% | 0.0% | 86.8% |
| Operating Expenses | ||||
| Research & Development | - | - | - | - |
| Selling, General & Administrative | 12.0M | 2.9M | 3.7M | 2.4M |
| Other Operating Expenses | -404.2K | - | 21.0M | 32.7M |
| Total Operating Expenses | 11.6M | 2.9M | 24.8M | 35.1M |
| Operating Income | -27.7M | -2.9M | -3.7M | -10.3M |
| Operating Margin % | -87.2% | 0.0% | 0.0% | -35.8% |
| Non-Operating Items | ||||
| Interest Income | - | 3.0M | 11.2M | - |
| Interest Expense | 5.7M | 434.7K | 0 | - |
| Other Non-Operating Income | -36.1M | -838.8K | -708.4K | -1.6M |
| Pre-tax Income | -69.6M | -1.2M | 6.8M | -12.0M |
| Income Tax | 1.5K | 628.5K | 2.3M | 10.7K |
| Effective Tax Rate % | 0.0% | 0.0% | 34.4% | 0.0% |
| Net Income | -69.6M | -1.9M | 4.4M | -12.0M |
| Net Margin % | -218.9% | 0.0% | 0.0% | -41.5% |
| Key Metrics | ||||
| EBITDA | -44.5M | -805.3K | 6.8M | -10.1M |
| EPS (Basic) | - | $-0.04 | $0.10 | $-0.26 |
| EPS (Diluted) | - | $-0.04 | $0.10 | $-0.26 |
| Basic Shares Outstanding | - | 46138876 | 46138876 | 46138876 |
| Diluted Shares Outstanding | - | 46138876 | 46138876 | 46138876 |
Income Statement Trend
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FTAC Emerald Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 7.7M | 906.0K | 29.8K | 5.4M | 1.2M |
| Short-term Investments | - | - | 5.3M | 3.0M | - |
| Accounts Receivable | 728.0K | - | 624.9K | 1.6M | - |
| Inventory | 478.0K | - | 129.2K | 350.8K | - |
| Other Current Assets | 6.9M | - | 1.7M | 1.4M | - |
| Total Current Assets | 18.1M | 926.5K | 306.1K | 11.8M | 1.6M |
| Non-Current Assets | |||||
| Property, Plant & Equipment | - | - | - | - | - |
| Goodwill | 1.4M | - | 553.8K | 471.5K | - |
| Intangible Assets | 1.4M | - | 553.8K | 471.5K | - |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 299.3K | 51.3M | 165.7M | - | 223.4M |
| Total Non-Current Assets | 135.4M | 51.3M | 165.7M | 648.8K | 223.5M |
| Total Assets | 153.5M | 52.2M | 166.0M | 12.4M | 225.2M |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 704.8K | 533.2K | 114.7K | 302.1K | 77.1K |
| Short-term Debt | 10.0M | 5.7M | 2.0M | - | - |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | 6.9M | - | 6.6M | 3.3M | - |
| Total Current Liabilities | 21.1M | 9.3M | 3.4M | 4.3M | 93.6K |
| Non-Current Liabilities | |||||
| Long-term Debt | 68.7M | - | - | - | - |
| Deferred Tax Liabilities | - | - | - | - | - |
| Other Non-Current Liabilities | 689.7K | - | 10.6M | 8.7M | - |
| Total Non-Current Liabilities | 69.4M | 0 | 1.2M | 9.4M | 8.9M |
| Total Liabilities | 90.5M | 9.3M | 4.5M | 13.7M | 8.9M |
| Equity | |||||
| Common Stock | 4.8K | 51.2M | 165.7M | 707 | 222.2M |
| Retained Earnings | -170.9M | -14.3M | -11.3M | -29.1M | -6.0M |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 63.0M | 42.9M | 161.4M | -1.3M | 216.2M |
| Key Metrics | |||||
| Total Debt | 78.7M | 5.7M | 2.0M | 0 | 0 |
| Working Capital | -3.0M | -8.4M | -3.1M | 7.5M | 1.5M |
Balance Sheet Composition
FTAC Emerald Cash Flow Statement From 2022 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Operating Activities | ||||
| Net Income | -69.6M | -1.9M | 4.4M | -12.0M |
| Depreciation & Amortization | 558.0K | - | 229.1K | 182.8K |
| Stock-Based Compensation | 10.0M | - | 8.3K | 13.9K |
| Working Capital Changes | 1.7M | 418.5K | 4.8M | 7.4M |
| Operating Cash Flow | -40.3M | -3.1M | -1.0M | -1.9M |
| Investing Activities | ||||
| Capital Expenditures | - | - | - | - |
| Acquisitions | - | - | - | - |
| Investment Purchases | -8.0M | - | -3.4M | -4.2M |
| Investment Sales | 0 | - | - | - |
| Investing Cash Flow | -8.0M | 117.3M | 96.4M | -4.2M |
| Financing Activities | ||||
| Share Repurchases | - | -116.7M | -96.8M | -21.9K |
| Dividends Paid | - | - | - | - |
| Debt Issuance | 0 | - | 500.0K | 7.0M |
| Debt Repayment | - | - | - | - |
| Financing Cash Flow | 14.4M | -113.0M | -93.8M | 14.0M |
| Free Cash Flow | -17.1M | -3.4M | -5.1M | -1.8M |
| Net Change in Cash | -33.9M | 1.2M | 1.6M | 7.9M |
Cash Flow Trend
FTAC Emerald Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
1.84
Forward P/E
-5.43
Price to Book
1.17
Price to Sales
2.43
PEG Ratio
-5.43
Profitability Ratios
Profit Margin
-218.88%
Operating Margin
-90.25%
Return on Equity
-110.48%
Return on Assets
-12.78%
Financial Health
Current Ratio
0.86
Debt to Equity
124.90
Beta
0.27
Per Share Data
EPS (TTM)
$-1.65
Book Value per Share
$1.30
Revenue per Share
$0.75
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| FLD | 74.2M | 1.84 | 1.17 | -110.48% | -218.88% | 124.90 |
| Morgan Stanley | 299.5B | 17.31 | 2.97 | 14.42% | 24.75% | 455.75 |
| Goldman Sachs | 276.4B | 17.07 | 2.60 | 14.59% | 29.36% | 608.94 |
| Coincheck Group N.V | 247.4M | 185.00 | 2.80 | 0.22% | 0.01% | 9.82 |
| Soluna Holdings | 153.0M | -0.56 | 2.75 | -81.64% | -179.73% | 26.07 |
| Gryphon Digital | 133.1M | -13.53 | -47.70 | 303.85% | -163.19% | -0.50 |
Financial data is updated regularly. All figures are in the company's reporting currency.






