Persistent cash burn is evident as the company recorded a $207.9K cash outflow in 2026Q1, reflecting the high administrative costs of maintaining a public shell entity.
| Cash from Operations | -811.22K | -603.3K | -59.92K | 0 |
| Operating CF Margin % | - | - | - | - |
| Operating CF Growth % | 0% | -906.9% | - | - |
| Net Income | 2.06M | -223.39K | -129 | -3 |
| Depreciation & Amortization | 0 | 0 | 0 | 0 |
| Stock-Based Compensation | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -2.87M | -379.92K | -59.8K | 0 |
| Working Capital Changes | 0 | 0 | 10 | 3 |
| Change in Receivables | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 |
| Cash from Investing | -277.38M | -277.38M | 0 | 0 |
| Capital Expenditures | 0 | 0 | 0 | 0 |
| CapEx % of Revenue | - | - | - | - |
| Acquisitions | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - |
| Other Investing | -277.38M | -277.38M | 0 | 0 |
| Cash from Financing | 275.49M | 278.65M | 60.49K | 0 |
| Debt Issued (Net) | 0 | 0 | 160K | 0 |
| Equity Issued (Net) | 0 | 0 | 25K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 |
| Other Financing | 275.49M | 278.65M | -124.5K | 0 |
| Net Change in Cash | -2.7M | 664.32K | 578 | 0 |
| Free Cash Flow | -811.22K | -603.3K | -59.92K | 0 |
| FCF Margin % | - | - | - | - |
| FCF Growth % | - | -906.85% | - | - |
| FCF per Share | -0.03 | -0.03 | -11.98 | - |
| FCF Conversion (FCF/Net Income) | -0.39x | 2.70x | 464.47x | - |
| Interest Paid | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 |
Liquidation and Deal Execution
As reported in recent financial statements, SDHI exhibits a persistent divergence between net income and operating cash flow, with the 2026Q1 period showing a $2.2 million net profit alongside a $207.9K cash outflow, underscoring the lack of operational cash generation inherent in the SPAC structure.
The reported net income appears to be driven by non-operating accounting adjustments rather than core business activities, which is typical for a pre-revenue shell entity. Investors should monitor this disconnect, as it suggests that bottom-line figures provide little insight into the actual liquidity available for ongoing due diligence.
Based on historical data, SDHI has maintained a consistently negative free cash flow trajectory, with outflows reaching $383.9K in 2025Q2, reflecting the ongoing administrative and legal costs required to sustain the entity while searching for a viable technology target in the FoodTech and AgTech sectors.
The absence of positive free cash flow is expected for a SPAC, yet the trend indicates a steady erosion of the limited working capital available. This trajectory suggests that management must either secure a business combination or rely on sponsor support to avoid a liquidity shortfall.
According to SEC filings, the company experienced significant working capital fluctuations, notably an $8.1 million swing in 2025Q3, which highlights the unpredictable nature of managing a shell entity's balance sheet during the intensive and often costly process of evaluating potential acquisition targets for a business combination.
These large swings in working capital appear to be tied to the timing of administrative expenses and potential sponsor-related funding activities. Such volatility warrants further investigation, as it may indicate that the company's operational runway is highly sensitive to the timing of deal-related expenditures.
As noted in recent financial disclosures, the reported cash balance of $664,894 obscures the underlying burn rate, as the company must navigate high fixed administrative costs without the benefit of operational revenue to offset the ongoing expenses associated with maintaining its public listing and regulatory compliance.
The cash flow statement fails to capture the full extent of the sponsor's potential future obligations, which may be required to keep the entity afloat. Analysts should interpret the current cash position as a limited buffer that may necessitate additional capital infusions if the search period extends further.
Quick answers to the most common questions about buying SDHI stock.
Siddhi Acquisition Corp (SDHI) generated $-0.6M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Siddhi Acquisition Corp (SDHI) reported negative free cash flow of $0.6M in 2025, indicating capital requirements exceeded cash from operations.
Siddhi Acquisition Corp (SDHI) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.