DECA

MKT CAP:$39M

Denali Capital Acquisition Corp.

Market Cap

$39M

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

Financials·Shell Companies·🇺🇸·NASDAQ

Stock Price

$11.43+$0.00 (+0.00%)

Mar 9, 2026

Company Details

Denali Capital Acquisition Corp. focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or other business combination with one or more businesses or entities. It intends to complete a business comb...

CEO

Lei Huang

IPO Date

Jun 7, 2022

Website

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Key Metrics TTM

Revenue

$736.5K

— YoY

Net Income

-$626.9K

EPS (Diluted)

-$0.36

Free Cash Flow

-$493.3K

Revenue / Share

$0.22

Gross Margin

50.0%

Operating Margin

16.5%

Net Margin

-85.1%

FCF Margin

-67.0%

P/S

52.4x

P/E

—

Earnings Reports

Q1 2025

May 16, 2025

$0EPS -$0.10

Q4 2024

Apr 1, 2025

$736.5KEPS -$0.31

Q3 2024

Nov 19, 2024

$0EPS -$0.01

Q2 2024

Aug 19, 2024

$0EPS $0.06

Q1 2024

May 21, 2024

$0EPS $0.04

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$0	$0	-$6.3K
Q1 22	$0	$0	-$11.3K
Q2 22	$0	-$146.0K	-$146.0K
Q3 22	$0	$0	-$73.0K
Q4 22	$0	$0	-$1M
Q1 23	$0	-$2M	-$2M
Q2 23	$0	-$564.0K	-$564.0K
Q3 23	$0	-$506.0K	$505.9K
Q4 23	$0	-$182.0K	-$182.0K
Q1 24	$0	-$368.0K	-$368.0K
Q2 24	$0	$0	-$168.0K
Q3 24	$0	$0	$213.0K
Q4 24	$736.5K	$368.3K	$323.5K
Q1 25	$0	$0	-$246.6K

Valuation

Quarter	P/S	P/E
Q4 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	148.9x
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	—	61.0x
Q1 24	—	20.2x
Q2 24	—	20.3x
Q3 24	—	31.5x
Q4 24	52.4x	—
Q1 25	52.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$0	$0
Q2 22	-$218.6K	-$218.6K
Q3 22	-$41.6K	-$41.6K
Q4 22	-$165.8K	-$165.8K
Q1 23	-$240.4K	-$240.4K
Q2 23	-$157.7K	-$157.7K
Q3 23	-$75.7K	-$75.7K
Q4 23	-$159.0K	-$159.0K
Q1 24	-$374.2K	-$374.2K
Q2 24	-$114.5K	-$114.5K
Q3 24	-$167.2K	-$167.2K
Q4 24	-$97.4K	-$97.4K
Q1 25	-$114.1K	-$114.1K

Capital Expenditures

Quarter	CapEx
Q1 22	$0
Q2 22	$0
Q3 22	$0
Q4 22	$0
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$0
Q2 24	$3
Q3 24	$0
Q4 24	$3
Q1 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	—	+22190.7%
Q1 23	—	+16844.4%
Q2 23	—	+286.3%
Q3 23	—	-793.4%
Q4 23	—	-87.1%
Q1 24	—	-80.9%
Q2 24	—	-70.2%
Q3 24	—	+57.9%
Q4 24	—	+126.9%
Q1 25	—	-33.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	—
Q2 22	$0	—
Q3 22	$0	—
Q4 22	$0	—
Q1 23	$0	—
Q2 23	$0	—
Q3 23	$0	—
Q4 23	$0	—
Q1 24	$0	—
Q2 24	$0	—
Q3 24	$0	—
Q4 24	$0	0.0%
Q1 25	$0	—

OpEx Breakdown

Quarter	G&A	SG&A
Q4 21	—	$6.3K
Q1 22	$11.3K	—
Q2 22	$145.7K	—
Q3 22	$73.0K	—
Q4 22	—	$1M
Q1 23	—	$2M
Q2 23	$563.7K	—
Q3 23	—	$505.9K
Q1 24	—	$368.3K
Q2 24	—	$168.2K
Q3 24	—	$213.0K
Q4 24	—	$536.4K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$16.6K	$0	$16.6K
Q2 22	$1M	$0	$1M
Q3 22	$985.6K	$0	$985.6K
Q4 22	$819.7K	$0	$819.7K
Q1 23	$579.4K	$0	$579.4K
Q2 23	$9.1K	$0	$9.1K
Q3 23	$13.5K	$0	$13.5K
Q4 23	$204.5K	$0	$204.5K
Q1 24	$1.0K	$0	$1.0K
Q2 24	$1.5K	$0	$1.5K
Q3 24	$14.3K	$0	$14.3K
Q4 24	$16.9K	$0	$16.9K
Q1 25	$2.7K	$0	$2.7K
Q2 25	$126	$0	$126
Q3 25	$85.0K	$0	$85.0K
Q4 25	$20.0K	$0	$20.0K

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	10M	—	—
Q1 22	11M	+9.8%	—
Q2 22	10M	-9.1%	—
Q3 22	11M	+10.0%	—
Q4 22	11M	0.0%	+9.8%
Q1 23	11M	0.0%	+0.0%
Q2 23	11M	0.0%	+10.0%
Q3 23	11M	0.0%	0.0%
Q4 23	7M	-30.8%	-30.8%
Q1 24	7M	-5.0%	-34.3%
Q2 24	7M	0.0%	-34.3%
Q3 24	4M	-48.0%	-65.9%
Q4 24	3M	-26.3%	-63.6%
Q1 25	3M	+22.1%	-53.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	$0	3
Q1 23	$0	3
Q2 23	$0	3
Q3 23	$0	3
Q4 23	$0	3
Q1 24	$0	3
Q2 24	$0	3
Q3 24	$0	3
Q4 24	$368.3K	2
Q1 25	$0	2

Revenue / Employee