Freenome, Inc. FRNM
We are a blank check company incorporated on March 22, 2024 as a Cayman Islands exempted company formed for the purpose of effecting a business combination with one or more businesses, which we refer to throughout this Annual Report as our initial business combination. To date, our efforts have been limited to organizational activities, as activities related to our Initial Public Offering, and since our Initial Public Offering, the search for a prospective business combination. We have generated no operating revenues to date and we do not expect that we will generate operating revenues until we consummate our initial business combination.
While we may pursue an acquisition opportunity in any business, industry, sector or geographical location, we intend to focus on industries that complement our management team's background, and to capitalize on the ability of our management team to identify and acquire a business, focusing on the healthcare or healthcare-related industries. In particular, we are targeting North American or European companies in the life sciences and medical technology sectors where our management has extensive investment experience. We may pursue a transaction in which our shareholders immediately prior to the completion of our initial business combination would collectively own a minority interest in the post-business combination company.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| SG&A | $3.0M | — | — |
| Operating income | -$3.0M | — | — |
| Net income | $837.5K | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Cash and equivalents | $865.0K | $1.1M | $0 |
| Total current assets | $907.6K | $1.2M | — |
| Total assets | $92.8M | $89.9M | — |
| Total current liabilities | $2.3M | $210.8K | — |
| Total liabilities | $5.7M | $3.7M | — |
| Retained earnings | -$4.8M | -$2.1M | — |
| Total equity | -$4.8M | -$2.1M | $0 |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Operating cash flow | -$864.7K | — | — |
| Stock-based compensation | — | — | $0 |
| Investing cash flow | $600.0K | — | — |
| Financing cash flow | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-033585.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | — | — | — |
| Gross profit | — | — | — |
| Net income | — | — | $837.5K |
Recent filings and events
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Acquisition or disposal completed Item 2.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
- Change of control Control of the company has changed hands. Item 5.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Code of ethics change The code of ethics changed, or somebody was excused from part of it. Item 5.05
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 8071
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| NTRA | Natera, Inc. | $58.23B | — | 35.9% |
| DGX | QUEST DIAGNOSTICS INC | $26.70B | 27.6x | 11.8% |
| LH | LABCORP HOLDINGS INC. | $26.68B | 31.4x | 7.2% |
| GH | Guardant Health, Inc. | $22.69B | — | 32.9% |
| CAI | Caris Life Sciences, Inc. | $9.04B | — | 97.0% |
| GRAL | GRAIL, Inc. | $5.92B | — | 17.2% |
| RDNT | RadNet, Inc. | $5.54B | — | 11.5% |
| BLLN | BillionToOne, Inc. | $5.00B | 769.8x | 100.0% |