Centurion Acquisition Corp. Reports $2.9 Million Net Income in Q1 2025

Centurion Acquisition Corp. reported its financial results for the first quarter of 2025, revealing a net income of $2.9 million, a significant increase from a net loss of $47,487 during the same period in 2024. The company attributed this positive performance primarily to interest income of $3.05 million earned on cash and marketable securities held in its Trust Account. Operating and formation costs for the quarter totaled $149,866, reflecting the company's ongoing expenses as it prepares for a future business combination.

The company's total assets as of March 31, 2025, stood at approximately $299.56 million, a slight increase from $296.66 million at the end of 2024. This growth was driven by an increase in cash and marketable securities held in the Trust Account, which rose to $298.86 million from $295.81 million. However, the company also reported an accumulated deficit of $13.11 million, up from $12.96 million at the end of the previous fiscal year, indicating ongoing operational costs without corresponding revenue generation.

Centurion Acquisition Corp. has not yet engaged in any business operations since its inception on January 18, 2024, and continues to focus on identifying potential acquisition targets. The company completed its Initial Public Offering (IPO) on June 12, 2024, raising $287.5 million by selling 28.75 million units, which included the full exercise of an underwriter's over-allotment option. The proceeds from the IPO are held in a Trust Account and are intended to be used for a future business combination.

As of the end of the first quarter, Centurion had a cash balance of $492,260, with total current liabilities of $129,052. The company has a working capital of $553,427, which it plans to utilize for operational expenses and due diligence related to potential acquisitions. The management expressed confidence in the company's ability to sustain operations for at least one year from the issuance date of the financial statements, although they acknowledged the inherent uncertainties in completing a business combination.

Looking ahead, Centurion Acquisition Corp. aims to leverage its financial resources to identify and evaluate target businesses for acquisition. The company has until June 12, 2026, to complete its initial business combination, and it may seek additional financing if necessary to meet operational needs or to facilitate the acquisition process. The management remains optimistic about the potential for future growth and value creation through strategic business combinations.