Eureka Acquisition Corp Reports Decrease in Net Income and Revenue for Quarter Ending March 31, 2026

Eureka Acquisition Corp has reported its financial results for the quarter ending March 31, 2026, revealing a net income of $149,356, a decrease from $407,876 in the same period last year. The company’s revenue primarily stems from interest earned on investments held in its Trust Account, which amounted to $272,856 for the quarter, down from $594,603 in the prior year. For the six months ending March 31, 2026, net income was $31,067, significantly lower than the $949,894 reported for the same period in 2025. The decline in income is attributed to a substantial reduction in interest income, which fell to $572,209 from $1,288,659 year-over-year.

Eureka's total assets increased to $33.0 million as of March 31, 2026, compared to $31.4 million at the end of September 2025. This growth was primarily driven by an increase in cash reserves, which rose to $151,622 from $51,431. However, the company also reported a working capital deficit of $2.07 million, reflecting ongoing operational costs and the need for additional financing to support its acquisition plans. General and administrative expenses for the quarter were $123,500, a decrease from $186,727 in the previous year, indicating efforts to manage costs amid a challenging financial environment.

Strategically, Eureka Acquisition Corp is in the process of completing a business combination with Marine Thinking Inc., an autonomous ship and fleet solution provider. This agreement, signed on October 29, 2025, involves a series of transactions that will see Eureka deregister as a Cayman Islands company and domesticate in Canada. The company has until July 3, 2026, to finalize this business combination, with the option for monthly extensions. As part of this process, Eureka has issued promissory notes to both its sponsor and Marine Thinking to cover monthly extension fees, totaling $1.65 million deposited into the Trust Account.

Operationally, the company has not yet commenced any revenue-generating activities, as it remains focused on identifying suitable acquisition targets. As of March 31, 2026, Eureka had 4,825,733 ordinary shares outstanding, including 3,388,233 Class A shares and 1,437,500 Class B shares. The company is classified as a smaller reporting company and has been subject to the filing requirements of the Securities Exchange Act of 1934. Looking ahead, management has expressed concerns regarding its ability to continue as a going concern, given the need for additional financing and the potential for mandatory liquidation if the business combination is not completed within the specified timeframe.