CapForce Inc. (OPGN) Form 10-Q — Aug 19, 2026
CapForce Inc. reported Q2 2026 net income of $42.5 million (basic EPS $3.41 vs $0.35 a year ago) on $50.0 million of revenue from listing sponsorship services, up from $4.0 million in the prior-year quarter. The revenue quality is a major caveat: the entire $50.0 million was earned in equity of a single privately held client (Client B), booked in accounts receivable pending share issuance, and every period's revenue came from one customer. The company's Chairman, who is also CEO of controlling stockholder AEI Capital, sits on the boards of both advisory clients.
Key figures
- Eps
- 3.41
- Revenue
- 50000000
- Net Income
- 42471082
- Revenue Yoy
- +1150% (from $4.0M in Q2 2025 to $50.0M in Q2 2026)
- Total Assets
- 87676834
- Cash Position
- 143781
- Shares Outstanding
- 12398054
- Tax Provision
- 1903533
- Six Month Basic Eps
- 3.43
- Diluted Eps Q2 2026
- 3.38
- Icapx Shares Issued
- 2028867
- Six Month Net Income
- 41760511
- Accounts Receivable
- 50258621
- Effective Tax Rate Q2
- 4.3%
- Six Month Diluted Eps
- 3.28
- Stockholders Equity
- 74276550
- Valuation Allowance
- 88415891
- Investment In Client A
- 35000000
- Prior Year Q2 Net Income
- 3509992
- Icapx Acquisition Price
- 12300000
- Revenue Settlement Form
- equity securities of privately held clients (non-cash)
- Federal Nol Carryforwards
- 288100000
- Q2 Proceeds From Aei Capital
- 480000
- Client BTotal Engagement Value
- 200000000
- Subsequent Proceeds Jul Aug2026
- 320000
- Ar Single Customer Concentration
- 99%
- Aei Capital Remaining Spa Capacity
- 6000000
AI analysis
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