RANGRHIGH SIGNALFINANCIAL10-K

RANGR shows dramatic financial volatility with net income swinging from -$39K to $4.0M while stockholders' equity collapsed 75% and operating performance deteriorated significantly.

The massive net income improvement (+10,323%) appears disconnected from worsening operating fundamentals, suggesting one-time gains or non-operating items driving profitability. The 75% decline in stockholders' equity alongside deteriorating operating cash flow and operating income indicates serious underlying business challenges that contradict the headline profit figure.

Comparing 2026-03-25 vs 2025-03-31View on EDGAR →
FINANCIAL ANALYSIS

RANGR's financials present a contradictory picture with net income surging over 10,000% to $4.0M while core business metrics deteriorated across the board - operating income worsened by 447%, operating cash flow declined 76%, and stockholders' equity fell 75% to just $211K. Total assets grew 19% to $120.9M, but current assets dropped 59% and the company maintains razor-thin equity relative to its asset base. This profile suggests the positive net income likely stems from non-recurring items or asset sales rather than sustainable business performance, making the underlying financial health concerning despite headline profitability.

FINANCIAL STATEMENT CHANGES
Net Income
P&L
+10323.1%
-$39K→$4.0M

Net income grew 10323.1% — bottom-line growth signals improving overall business health.

Operating Income
P&L
-447.4%
-$147K→-$803K

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Operating Cash Flow
Cash Flow
-75.7%
-$334K→-$587K

Operating cash flow fell 75.7% — earnings quality concerns; investigate working capital changes and non-cash items.

Stockholders Equity
Balance Sheet
-75.1%
$847K→$211K

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

Current Assets
Balance Sheet
-58.7%
$1.0M→$417K

Current assets declined 58.7% — monitor working capital adequacy and short-term liquidity.

Total Liabilities
Balance Sheet
-21.8%
$264K→$207K

Liabilities reduced 21.8% — deleveraging improves balance sheet strength and financial flexibility.

Total Assets
Balance Sheet
+18.9%
$101.7M→$120.9M

Asset base grew 18.9% — expansion through organic growth, acquisitions, or capital deployment.

LANGUAGE CHANGES
NEW — 2026-03-25
PRIOR — 2025-03-31
ADDED
Common stock held by each officer and director and by each person known to the registrant who owned 10% or more of the outstanding voting and non-voting common stock have been excluded in that such persons may be deemed to be affiliates.
This determination of affiliate status is not necessarily a conclusive determination for other purposes.
As of March 20, 2026, there were 16,037,500 ordinary shares, $ 0.0001 par value, issued and outstanding.
Market for Registrant s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 42 Item 6.
Management s Discussion and Analysis of Financial Condition and Results of Operations 42 Item 7A.
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REMOVED
10-K FY false 0002035644 00-0000000 0 Includes an aggregate of up to 500,000 ordinary shares subject to forfeiture if the over-allotment is not exercised in full or in part by the underwriters (See Notes 5 and 7).
Includes an aggregate of up to 500,000 ordinary shares subject to forfeiture if the over-allotment option was not exercised in full or in part by the underwriters (See Notes 5 and 7).
On January 3, 2025, the underwriters exercised their over-allotment option and as of such date, 500,000 shares were no longer subject to forfeiture.
Subsequently on November 14, 2024, Range Capital Acquisition Sponsor, LLC (the Sponsor ) surrendered 479,167 Founder Shares for no consideration and EarlyBirdCapital, Inc.
( EBC ) surrendered 133,333 EBC founder shares for no consideration.
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