Andretti Acquisition Corp. II Reports Decrease in Net Income for Q1 2026

Andretti Acquisition Corp. II reported its financial results for the first quarter of 2026, revealing a net income of $1.84 million, a decrease from $2.26 million in the same period of 2025. The decline in net income was attributed to an increase in general and administrative costs, which rose to $306,630 from $192,199 year-over-year. The company generated interest income of $2.15 million from marketable securities held in its Trust Account, slightly down from $2.46 million in the previous year. The basic and diluted net income per share for Class A redeemable ordinary shares was $0.06, compared to $0.08 in the prior year.

As of March 31, 2026, Andretti Acquisition Corp. II reported total assets of approximately $246.69 million, up from $244.42 million at the end of 2025. The increase was primarily due to a rise in cash and marketable securities, which amounted to $150,516 and $246.41 million, respectively. The company’s current liabilities decreased significantly to $9,040 from $191,059, largely due to a reduction in accrued expenses. However, the accumulated deficit increased to $10.56 million from $10.25 million, reflecting ongoing operational costs without revenue generation.

Strategically, the company has not yet completed any business combinations since its inception in May 2024. It had previously entered into a Business Combination Agreement with StoreDot Ltd., but this agreement was terminated in February 2026. The company continues to seek potential acquisition targets and plans to utilize the funds held in its Trust Account for this purpose. As of the end of the reporting period, Andretti Acquisition Corp. II had a working capital surplus of $274,364, indicating a positive liquidity position to support its operational needs.

Looking ahead, the company has until September 9, 2026, to complete a business combination, or it will be required to liquidate. Management has expressed concerns regarding its ability to continue as a going concern if it cannot secure a suitable target for acquisition. The company has also amended its Working Capital Loans, increasing the total principal amounts available for withdrawal, which may provide additional financial flexibility as it pursues its strategic objectives.

In summary, Andretti Acquisition Corp. II's financial performance in the first quarter of 2026 reflects a decrease in net income and an increase in operational costs, while the company continues to navigate its path toward a successful business combination within the stipulated timeframe.