Teamshares posts first post-SPAC quarter with going-concern warning on $187.8M debt due

Filed August 14, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 13, 2025 · ~1 min read

Key Changes

• high

  Auditor and management both express substantial doubt about ability to continue as a going concern, driven by $187.8M debt maturing within 12 months (primarily the i80 Facility, $153.4M, Dec 2026) and insufficient liquidity to repay without refinancing.

  Risk Factors / Notes / MD&A: Going Concern verify on EDGAR →
• high

  Revenue rose 20.3% YoY to $148.7M in Q2 2026, driven by $20.9M from 2025 acquisitions (full-quarter contribution), $3.2M from 2026 acquisitions, and $4.1M organic growth. Operating income swung positive to $3.0M from a $4.8M loss in Q2 2025. Net income was $9.5M.

  MD&A: Operating Results verify on EDGAR →
• high

  The i80 Facility carries a 14.7% weighted-average rate. Management is pursuing refinancing but has no definitive agreements in place.

  MD&A: Interest Expense verify on EDGAR →