Cartesian Growth Corporation II Reports Net Loss and Increased Operating Costs for Quarter Ending June 30, 2025

Cartesian Growth Corporation II reported its financial results for the quarter ending June 30, 2025, revealing a net loss of $152,231, a significant decline from a net income of $2,107,407 during the same period in 2024. The company’s operating costs increased to $262,245 from $198,298 year-over-year. For the six months ending June 30, 2025, the company recorded a net income of $407,633, down from $4,642,279 in the prior year, primarily due to a decrease in interest income from cash and marketable securities held in the trust account, which fell to $1,361,827 from $4,584,166.

The company’s total assets as of June 30, 2025, amounted to $87,387,578, a slight increase from $85,004,444 at the end of 2024. Cash and marketable securities held in the trust account rose to $87,027,424 from $84,565,597. However, the company’s accumulated deficit increased to $22,316,235 from $20,262,041, reflecting ongoing operational challenges. The total liabilities also rose to $22,675,814 from $20,700,313, driven by an increase in accrued expenses and a promissory note.

Strategically, Cartesian Growth Corporation II has been focused on extending its business combination period. The company successfully executed a second charter amendment on November 6, 2024, allowing for an additional twelve-month extension to complete a business combination, now set to November 5, 2025. This extension was facilitated by the sponsor's financial contributions, which included a total of $250,000 deposited into the trust account for each of the months leading up to the extension. The company has also issued unsecured promissory notes to the sponsor, which may be converted into warrants upon the completion of a business combination.

Operationally, the company has not yet commenced any business operations since its inception in October 2021 and continues to focus on identifying a target for its initial business combination. As of June 30, 2025, Cartesian Growth Corporation II had 12,999,710 Class A ordinary shares outstanding, with 7,249,712 shares subject to possible redemption. The company’s liquidity position remains a concern, with a working capital deficit of $4,345,203, raising doubts about its ability to continue as a going concern without successfully completing a business combination.

Looking ahead, Cartesian Growth Corporation II remains committed to pursuing a business combination, although it faces significant challenges, including the recent delisting of its securities from Nasdaq due to non-compliance with listing rules. The company’s management has indicated that it will continue to evaluate potential targets and utilize its available resources to facilitate a successful transaction. However, the ongoing geopolitical and economic uncertainties may impact its ability to secure a suitable business combination in the near term.