Nabors Energy Transition Corp. II Reports Q2 2025 Financial Results with Decreased Net Income

Nabors Energy Transition Corp. II reported its financial results for the second quarter of 2025, revealing a net income of $2.35 million, a decrease from $3.57 million in the same period last year. For the first half of 2025, the company recorded a net income of $3.23 million, down from $7.37 million in the first half of 2024. The decline in profitability is attributed to a significant increase in general and administrative expenses, which rose to $1.06 million for the quarter, compared to $260,000 in the prior year. For the six-month period, these expenses totaled $3.52 million, up from $525,000 in 2024.

The company’s total assets as of June 30, 2025, amounted to $339.76 million, a slight increase from $333.52 million at the end of 2024. Cash and marketable securities held in the Trust Account increased to $338.53 million, compared to $331.78 million at the end of the previous year. However, current liabilities also rose to $429,848 from $313,719, primarily due to increased accounts payable and accrued expenses. The company’s accumulated deficit widened to $16.91 million from $16.06 million at the end of 2024.

Strategically, Nabors Energy Transition Corp. II is focused on completing a business combination, having entered into an agreement with e2 on February 11, 2025. The merger is expected to enhance the company’s position in the energy transition sector. As part of its operational developments, the company held an extraordinary general meeting on July 16, 2025, where shareholders approved an extension to the deadline for completing the business combination, allowing for additional time to finalize the merger. In connection with this extension, shareholders redeemed approximately $186.7 million worth of public shares.

Looking ahead, the company faces a deadline of August 18, 2025, to complete its initial business combination or face liquidation. Management has expressed confidence in finalizing the merger with e2, although they acknowledge the risks associated with market conditions and the ongoing geopolitical landscape. The company continues to monitor its liquidity, with $1.18 million in cash available outside the Trust Account, which will be used for operational expenses and identifying potential acquisition targets.