Leapfrog Acquisition Corporation filed its Form 10-Q for the quarter ended September 30, 2026 with the SEC on November 5, 2026, reporting net income of $1,188,406 for the three-month period driven by interest earned on its Trust Account.

Key Highlights

  • Trust Account balance: Cash held in Trust Account totaled $147,901,017 as of September 30, 2026, up from $144,087,613 at December 31, 2025, according to the filing.
  • Q3 net income: The company reported net income of $1,188,406 for the three months ended September 30, 2026, compared to a net loss of $54,875 in the same prior-year period.
  • Nine-month net income: Net income for the nine months ended September 30, 2026 was $3,388,244, with $3,813,404 in interest earned on the Trust Account.
  • Redemption price per share: 14,375,000 Class A ordinary shares were subject to possible redemption at $10.29 per share as of September 30, 2026, versus $10.02 per share at December 31, 2025.
  • Shareholders' deficit: Total shareholders' deficit was $(4,101,351) as of September 30, 2026, compared to $(3,676,191) at December 31, 2025.
  • Shares outstanding: As of November 5, 2026, the company had 14,847,500 Class A ordinary shares and 4,791,667 Class B ordinary shares issued and outstanding.
  • Operating cash flow: Net cash used in operating activities was $(518,214) for the nine months ended September 30, 2026, with cash on hand of $877,781 at period end.

Leapfrog Acquisition Corporation Q3 2026 Financial Results and Trust Account Status

Leapfrog Acquisition Corporation (NASDAQ:LFAC), a Cayman Islands-incorporated blank check company headquartered in Summit, New Jersey, disclosed its unaudited condensed financial statements for the quarter and nine months ended September 30, 2026. According to the filing, the company's total assets stood at $148,910,349 as of September 30, 2026, with the Trust Account comprising the substantial majority at $147,901,017. The company is classified as a non-accelerated filer, smaller reporting company, and emerging growth company, and confirmed its status as a shell company under Rule 12b-2 of the Exchange Act.

The filing reports that interest earned on cash held in the Trust Account was $1,303,187 for the three months ended September 30, 2026, and $3,813,404 for the nine-month period. General and administrative expenses for the three and nine months ended September 30, 2026 were $114,781 and $425,160, respectively. Basic and diluted net income per share for both redeemable Class A and non-redeemable Class A and B ordinary shares was $0.06 for Q3 2026 and $0.17 for the nine-month period, as reported in the condensed statements of operations.

The balance sheet reflects current liabilities of $79,433, including $56,007 due to Sponsor and $23,426 in accounts payable and accrued expenses. A deferred underwriting fee of $5,031,250 remained unchanged from December 31, 2025. The accumulated deficit increased to $(4,101,877) as of September 30, 2026, from $(3,676,717) at year-end 2025, reflecting subsequent remeasurements of ordinary shares subject to possible redemption totaling $(3,813,404) over the nine-month period, partially offset by net income. The company's securities, including Class A ordinary shares (LFAC), units (LFACU), and warrants (LFACW), are all listed on The Nasdaq Stock Market LLC.

What Was Disclosed

Leapfrog Acquisition Corporation filed its Q3 2026 10-Q reporting a Trust Account balance of $147,901,017, nine-month net income of $3,388,244, a redemption price of $10.29 per Class A share, and an accumulated deficit of $(4,101,877) as of September 30, 2026.