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Evo Acquisition Balance Sheet Health

Financial Health criteria checks 0/6

Evo Acquisition has a total shareholder equity of $-6.2M and total debt of $1,000.0K, which brings its debt-to-equity ratio to -16.2%. Its total assets and total liabilities are $10.3M and $16.5M respectively.

Key information

-16.23%

Debt to equity ratio

US$1.00m

Debt

Interest coverage ratio	n/a
Cash	US$607.27k
Equity	-US$6.16m
Total liabilities	US$16.47m
Total assets	US$10.31m

Recent financial health updates

Recent updates

Seeking Alpha • Oct 18

20cube Logistics to go public via SPAC deal

Special purpose acquisition firm Evo Acquisition (NASDAQ:EVOJ) said it would acquire 20Cube Logistics, a Singapore-based software-enabled international supply chain orchestrator. The company will be led by Mahesh Niruttan, Founder and Chief Executive Officer of 20Cube and will be called 20Cube Logistics Solutions (Pubco). It is expected to be listed on the Nasdaq Capital Market under the ticker symbol "TCUB." 20Cube Logistics has presence at over 60 locations in Asia, Australia and East Africa. This transaction will provide working capital and acquisition funding to enable it to further accelerate growth. 20Cube’s revenue grew at 74% in 2022, with revenue of $163M. The combined company will have an initial enterprise value of about $338M and is expected to have up to $135M in net cash proceeds immediately after closing.

Financial Position Analysis

Short Term Liabilities: EVOJ has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: EVOJ has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.

Debt to Equity History and Analysis

Debt Level: EVOJ has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: EVOJ's has negative shareholder equity, so we do not need to check if its debt has reduced over time.

Debt Coverage: EVOJ's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if EVOJ's interest payments on its debt are well covered by EBIT.

Balance Sheet

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2023/05/08 10:21
End of Day Share Price	2023/05/08 00:00
Earnings	2022/12/31
Annual Earnings	2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Evo Acquisition Corp. is covered by 0 analysts. of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.