BKHA

MKT CAP:$48M

Black Hawk Acquisition Corporation

Market Cap

$48M

Financial Services·Shell Companies·🇺🇸 United States·NASDAQ

Financials·Shell Companies·🇺🇸·NASDAQ

Stock Price

$11.62+$0.37 (+3.29%)

Apr 14, 2026

Company Details

Black Hawk Acquisition Corporation focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. Black Hawk Acquisition Corporation...

CEO

Kent Louis Kaufman

IPO Date

May 13, 2024

Website

www.bhspac.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

$1M

EPS (Diluted)

$0.16

Free Cash Flow

-$650.3K

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

36.3x

Earnings Reports

FY 2025

Mar 6, 2026

$0EPS $0.19

Q4 2025

Mar 6, 2026

$0EPS $0.00

Q3 2025

Oct 20, 2025

$0EPS $0.03

Q2 2025

Jun 26, 2025

$0EPS $0.06

Q1 2025

Apr 10, 2025

$0EPS $0.07

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 23	$0	$0	-$18.9K
Q1 24	$0	$0	-$30.7K
Q2 24	$0	$0	-$359.2K
Q3 24	$0	$0	-$84.9K
Q4 24	$0	$0	-$101.3K
Q1 25	$0	$0	-$108.8K
Q2 25	$0	$0	-$247.6K
Q3 25	$0	$0	-$341.3K
Q4 25	$0	$0	-$217.9K

Valuation

Quarter	P/S	P/E
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	79.5x
Q4 24	—	37.3x
Q1 25	—	27.7x
Q2 25	—	33.6x
Q3 25	—	47.1x
Q4 25	—	34.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 24	-$37.6K	-$37.6K
Q2 24	-$414.2K	-$414.2K
Q3 24	-$42.8K	-$42.8K
Q4 24	-$59.0K	-$59.0K
Q1 25	-$163.3K	-$163.3K
Q2 25	-$278.6K	-$278.6K
Q3 25	-$107.9K	-$107.9K
Q4 25	-$100.5K	-$100.5K

Capital Expenditures

Quarter	CapEx
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$4
Q3 25	$0
Q4 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 24	—	+437.2%
Q1 25	—	+254.3%
Q2 25	—	-31.1%
Q3 25	—	+301.9%
Q4 25	—	+115.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 24	$0	—
Q2 24	$0	—
Q3 24	$0	—
Q4 24	$0	—
Q1 25	$0	—
Q2 25	$0	—
Q3 25	$0	—
Q4 25	$0	—

OpEx Breakdown

Quarter	G&A	SG&A
Q4 23	—	$18.9K
Q1 24	$30.7K	—
Q2 24	$359.2K	—
Q3 24	$84.9K	—
Q4 24	$101.3K	—
Q1 25	$108.8K	—
Q2 25	$247.6K	—
Q3 25	$341.3K	—
Q4 25	$217.9K	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 23	$125.1K	$0	$125.1K
Q1 24	$59.4K	$0	$59.4K
Q2 24	$366.7K	$0	$366.7K
Q3 24	$323.8K	$0	$323.8K
Q4 24	$264.8K	$0	$264.8K
Q1 25	$101.5K	$0	$101.5K
Q2 25	$72.9K	$0	$72.9K
Q3 25	$15.0K	$0	$15.0K
Q4 25	$39.5K	$0	$39.5K

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 23	9M	—	—
Q1 24	9M	0.0%	—
Q2 24	9M	0.0%	—
Q3 24	9M	0.0%	—
Q4 24	9M	0.0%	0.0%
Q1 25	9M	0.0%	0.0%
Q2 25	9M	0.0%	0.0%
Q3 25	4M	-54.1%	-54.1%
Q4 25	5M	+22.1%	-44.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	$0	2
Q1 25	$0	2
Q2 25	$0	2
Q3 25	$0	2
Q4 25	$0	22

Revenue / Employee