FSHP

MKT CAP:$97M

Flag Ship Acquisition Corporation

Market Cap

$97M

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

Financials·Shell Companies·🇺🇸·NASDAQ

Stock Price

$10.96+$0.21 (+1.95%)

Apr 23, 2026

Company Details

Flag Ship Acquisition Corporation does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization with one or more businesses. The company intends to acquire ...

CEO

Matthew Chen

IPO Date

Aug 15, 2024

Website

www.flagshipacquisition.com

Key Metrics TTM

Revenue

$0

— YoY

Net Income

$2M

EPS (Diluted)

$0.21

Free Cash Flow

-$989.4K

Revenue / Share

$0.00

Gross Margin

—

Operating Margin

—

Net Margin

—

FCF Margin

—

P/S

—

P/E

62.1x

Earnings Reports

Q1 2025

May 13, 2025

$0EPS $0.08

FY 2024

Mar 4, 2025

$0EPS $0.10

Q4 2024

Mar 4, 2025

$0EPS $0.05

Q3 2024

Nov 12, 2024

$0EPS $0.06

Q2 2024

Aug 8, 2024

$0EPS $0.01

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 20	$0	$0	-$3.5K
Q4 21	$0	$0	-$26.8K
Q4 22	$0	$0	-$74.6K
Q1 23	$0	$0	-$2.5K
Q2 23	$0	$0	-$1.7K
Q3 23	$0	$0	-$45.8K
Q4 23	$0	$0	-$12.3K
Q1 24	$0	$0	-$75.8K
Q2 24	$0	$0	-$78.0K
Q3 24	$0	$0	-$403.0K
Q4 24	$0	$0	-$332.5K
Q1 25	$0	$0	-$162.1K

Valuation

Quarter	P/S	P/E
Q4 20	—	—
Q4 21	—	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	233.6x
Q4 24	—	106.8x
Q1 25	—	62.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 20	-$3.5K	-$3.5K
Q4 21	-$21.2K	-$21.2K
Q4 22	-$44.5K	-$44.5K
Q1 23	-$5.8K	-$5.8K
Q2 23	$3.3K	$3.3K
Q3 23	-$45.8K	-$45.8K
Q4 23	-$18.5K	-$18.5K
Q1 24	-$70.5K	-$70.5K
Q2 24	-$149.1K	-$149.1K
Q3 24	-$413.0K	-$413.0K
Q4 24	-$243.8K	-$243.8K
Q1 25	-$183.5K	-$183.5K

Capital Expenditures

Quarter	CapEx
Q4 20	$0
Q4 21	$0
Q4 22	$0
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$3
Q4 24	$3
Q1 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 23	—	-52.0%
Q3 23	—	+70.9%
Q4 23	—	-83.4%
Q1 24	—	+2882.6%
Q2 24	—	+4478.7%
Q3 24	—	+779.7%
Q4 24	—	+2593.5%
Q1 25	—	+113.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 20	$0	—
Q4 21	$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	—
Q1 25	$0	—

OpEx Breakdown

Quarter	G&A
Q4 20	$3.5K
Q4 21	$26.8K
Q4 22	$74.6K
Q1 23	$2.5K
Q2 23	$1.7K
Q3 23	$45.8K
Q4 23	$12.3K
Q1 24	$75.8K
Q2 24	$78.0K
Q3 24	$403.0K
Q4 24	$332.5K
Q1 25	$162.1K

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 20	$2.7K	$0	$2.7K
Q3 21	$84.6K	$0	$84.6K
Q4 21	$63.5K	$0	$63.5K
Q3 22	$270	$0	$270
Q4 22	$182.4K	$0	$182.4K
Q4 23	$116.2K	$0	$116.2K
Q1 24	$40.7K	$0	$40.7K
Q2 24	$105.6K	$0	$105.6K
Q3 24	$215	$0	$215
Q4 24	$76.7K	$0	$76.7K
Q1 25	$35.7K	$0	$35.7K
Q2 25	$19.8K	$0	$19.8K
Q3 25	$18.8K	$0	$18.8K

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 20	2M	—	—
Q4 21	2M	0.0%	—
Q4 22	2M	0.0%	—
Q1 23	3M	+18.5%	—
Q2 23	3M	0.0%	+18.5%
Q3 23	3M	0.0%	+18.5%
Q4 23	3M	0.0%	+18.5%
Q1 24	2M	-7.8%	-7.8%
Q2 24	3M	+8.5%	0.0%
Q3 24	9M	+253.2%	+253.2%
Q4 24	9M	0.0%	+253.2%
Q1 25	7M	-22.1%	+198.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 20	—	—
Q4 21	—	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	$0	2
Q1 25	$0	2

Revenue / Employee