Black Hawk Acquisition Corp
BKHA Nasdaq Biological Products, (No Diagnostic Substances) Financials FY2024–FY2025
What Black Hawk Acquisition Corp does
No business description yet.
- Legal name
- Black Hawk Acquisition Corp
- Fiscal year ends
- November 30, 2025
- Latest annual report
- 10-K · Mar 6, 2026
- Accession · CIK
- 0001829126-26-002021
0002000775
Revenue and margins
Black Hawk Acquisition Corp had $2.3M of revenue in fiscal 2025, down 9.1% on the year before.
Net income and earnings per share
Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
Black Hawk Acquisition Corp returned — to shareholders in fiscal 2025. The diluted share count rose 0.0%.
Balance sheet
Cash, debt and the ratios that show how comfortably Black Hawk Acquisition Corp can carry it.
| Fiscal year end | FY24 | FY25 |
|---|---|---|
| Cash and short-term investments | $0.0M | $0.0M |
| Interest coverage | — | −59.1x |
| Current ratio | 4.4x | 0.0x |
| Quick ratio | 4.4x | 0.0x |
| Total assets | $72.1M | $23.9M |
| Total liabilities | $2.5M | $3.9M |
| Shareholders' equity | −$2.2M | −$3.8M |
| Net debt (− = net cash) | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY24 | FY25 |
|---|---|---|
| Net income is positive | ✓ | ✓ |
| Cash from operations is positive | ✕ | ✕ |
| Return on assets rose | — | ✓ |
| Cash from operations exceeds net income | ✕ | ✕ |
| Debt fell relative to assets | — | — |
| Current ratio rose | — | ✕ |
| Share count didn't rise | — | — |
| Gross margin rose | — | — |
| Revenue rose relative to assets | — | ✓ |
| F-score | — / 3 | — / 6 |
| Accruals ratio | 3.4% | 4.1% |
| Altman Z'' | −1.05 | −2.21 |
2 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY24 | FY25 |
|---|---|---|
| Income statement | ||
| Revenue | $2.5M | $2.3M |
| Net interest income | $2.5M | $2.3M |
| Operating income | −$0.6M | −$0.9M |
| Interest expense | — | $0.0M |
| Net income | $1.9M | $1.3M |
| Cash flow | ||
| Cash from operations | −$0.6M | −$0.7M |
| Balance sheet | ||
| Cash and short-term investments | $0.0M | $0.0M |
| Deposits | $0.7M | $0.7M |
| Current assets | $0.3M | $0.1M |
| Current liabilities | $0.1M | $1.5M |
| Intangible assets | — | $5.0M |
| Total assets | $72.1M | $23.9M |
| Total liabilities | $2.5M | $3.9M |
| Shareholders' equity | −$2.2M | −$3.8M |
| Margins | ||
| Operating margin | −23.2% | −40.5% |
| Net margin | 77.1% | 58.9% |
| Net interest share of revenue | 100.0% | 100.0% |
| Returns | ||
| Return on capital employed | −0.8% | −4.1% |
| Return on assets | 2.7% | 2.8% |
| Growth | ||
| Revenue growth | — | −9.1% |
| Net income growth | — | −30.6% |
| Financial health | ||
| Interest coverage | — | −59.1x |
| Current ratio | 4.4x | 0.0x |
| Quick ratio | 4.4x | 0.0x |
| Quality scores | ||
| Altman Z'' | −1.0 | −2.2 |
| Accruals ratio | 3.4% | 4.1% |
Source: SEC EDGAR XBRL filings (CIK 0002000775). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.