<span item_type="fundamental" item_id="273b340a8912ded75aece80bde6f2070" counter_id="ST/US/XRPNW" env="prod"></span><span item_type="announcement" item_id="615773238738032257" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 0.</p><p>EPS: As of FY2026 Q1, the actual value is USD -0.02.</p><p>EBIT: As of FY2026 Q1, the actual value is USD -5.208 M.</p><p></p><h3>Overview</h3><p>Armada Acquisition Corp. II is a blank check company that has not yet commenced operations or generated operating revenues, with operating revenues expected only after the completion of a Business Combination. The company generates non-operating income from interest on investments held in its Trust Account <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2044009/000119312526051286/d104221d10q.htm"></span>.</p><h4>Net Loss</h4><ul><li>For the three months ended December 31, 2025, the company reported a net loss of - $603,760 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2044009/000119312526051286/d104221d10q.htm"></span>.</li><li>This compares to a net loss of - $45,784 for the period from October 3, 2024 (inception) through December 31, 2024 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2044009/000119312526051286/d104221d10q.htm"></span>.</li></ul><h4>General and Administrative Costs</h4><ul><li>General and administrative costs amounted to $2,905,649 for the three months ended December 31, 2025, primarily consisting of accounting and legal fees related to business combination agreements <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2044009/000119312526051286/d104221d10q.htm"></span>.</li><li>For the period from October 3, 2024 (inception) through December 31, 2024, these costs were $45,784 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2044009/000119312526051286/d104221d10q.htm"></span>.</li></ul><h4>Interest Income</h4><ul><li>Interest earned on cash and marketable securities held in the Trust Account was $2,301,889 for the three months ended December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2044009/000119312526051286/d104221d10q.htm"></span>.</li><li>No interest income was reported for the period from October 3, 2024 (inception) through December 31, 2024 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2044009/000119312526051286/d104221d10q.htm"></span>.</li></ul><h4>Cash and Marketable Securities</h4><ul><li>As of December 31, 2025, cash and marketable securities held in the Trust Account totaled $236,930,055, including approximately $5,780,055 in interest income <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2044009/000119312526051286/d104221d10q.htm"></span>.</li><li>This represents an increase from $234,628,166 as of September 30, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2044009/000119312526051286/d104221d10q.htm"></span>.</li><li>The company’s operating bank accounts held $287,074 in cash as of December 31, 2025, down from $361,105 as of September 30, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2044009/000119312526051286/d104221d10q.htm"></span>.</li></ul><h4>Cash Flow from Operating Activities</h4><ul><li>Cash used in operating activities for the three months ended December 31, 2025, was - $74,031 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2044009/000119312526051286/d104221d10q.htm"></span>.</li><li>For the period from October 3, 2024 (inception) through December 31, 2024, cash used in operating activities was $0 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2044009/000119312526051286/d104221d10q.htm"></span>.</li></ul><h4>Working Capital</h4><ul><li>As of December 31, 2025, the company had a working capital deficit of - $3,812,654 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2044009/000119312526051286/d104221d10q.htm"></span>.</li></ul><h4>Future Outlook and Strategy</h4><p>Armada Acquisition Corp. II aims to complete a business combination by November 22, 2026, focusing on target businesses in FinTech, Software-as-a-Service (SaaS), or artificial intelligence (AI) <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2044009/000119312526051286/d104221d10q.htm"></span>. The company entered into a Business Combination Agreement on October 19, 2025, with Evernorth Holdings Inc., Pathfinder Digital Assets LLC, and Ripple Labs Inc. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2044009/000119312526051286/d104221d10q.htm"></span>. To finance this, $224.55 million in cash and 262,119,096.061435 XRP tokens have been secured through PIPE transactions, with proceeds to be used for working capital, general corporate purposes, and XRP purchase <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/2044009/000119312526051286/d104221d10q.htm"></span>.</p>

ARMADA ACQUISITION CORP II C/WTS 21/05/2030 (TO PUR COM) | 10-Q: FY2026 Q1 Revenue: USD 0