Andretti Acquisition Corp. II reported its financial results for the third quarter of 2025, revealing a net income of $2.23 million for the three months ending September 30, 2025, compared to a net income of $581,366 for the same period in 2024. The increase in net income was primarily driven by interest earned on marketable securities held in the Trust Account, which amounted to $2.5 million for the quarter, up from $664,125 in the prior year. For the nine months ended September 30, 2025, the company reported a net income of $6.78 million, significantly higher than the $537,674 reported for the same period in 2024.
The company’s total assets as of September 30, 2025, were $242.31 million, an increase from $235.51 million at the end of 2024. This growth was largely attributed to the increase in marketable securities held in the Trust Account, which rose to $241.93 million from $234.50 million. However, the company also reported an accumulated deficit of $9.49 million as of September 30, 2025, compared to $8.84 million at the end of the previous fiscal year, reflecting ongoing operational costs and expenses associated with being a public company.
Operationally, Andretti Acquisition Corp. II has not yet identified a specific target for its business combination, which is a key focus of its strategy. The company continues to incur general and administrative costs, which totaled $270,994 for the third quarter of 2025, up from $82,759 in the same quarter of 2024. The increase in expenses is indicative of the company's ongoing efforts to prepare for a potential merger or acquisition. As of the latest filing, the company had 23.76 million Class A ordinary shares and 5.75 million Class B ordinary shares outstanding.
Looking ahead, the company faces a deadline to complete its initial business combination by September 9, 2026, or it will be required to liquidate. The management has indicated that it may need to raise additional capital to support its operations and pursue potential business combinations. The company has also entered into unsecured promissory notes with key individuals for working capital purposes, which may be converted into units of the post-business combination entity. The management remains optimistic about identifying a suitable target and completing a successful business combination within the stipulated timeframe.
About Andretti Acquisition Corp. II
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