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Fintech Acquisition V Balance Sheet Health

Financial Health criteria checks 0/6

Key information

-8.24%

Debt to equity ratio

US$1.15m

Debt

Interest coverage ratio	n/a
Cash	US$151.25k
Equity	-US$13.97m
Total liabilities	US$265.25m
Total assets	US$251.27m

Recent financial health updates

No updates

Recent updates

Seeking Alpha • Jun 30

Online crypto brokerage EToro said to terminate deal to go public through a SPAC

Online crypto brokerage EToro and the SPAC that's taking it public are expected to let the deadline for their merger agreement to expire. The termination date for the $8.8 billion deal with Betsy Cohen's FinTech Acquisition Corp. V (NASDAQ:FTCV) was set to expire Thursday, according a report from The Information. FTCV had agreed in March 2021 to take stock- and cryptocurrency-trading platform eToro public via a SPAC merger, but the deal has reportedly run into regulatory problems as well as the stock market's volatility and plunge in crypto. The digital broker originally postponed the deal's completion date from the third quarter to Q4 of last year. Tel Aviv-based EToro primarily competes with Coinbase (COIN) as a consumer crypto-trading platform, but also offers stock-market trading similar to that of Robinhood Markets (HOOD). Wall Street originally embraced FTCV and eToro’s planned merger, with FinTech Acquisition Corp. V shares (FTCV) rallying 42.8% on the deal’s announcement. This is another SPAC that hasn't worked out for Cohen. Cohen's SPAC FTAC Athena Acquisition (FTAAU) terminated its agreement to take financial-connectivity firm Pico public at about a $1.8B valuation in late February.

Seeking Alpha • Jan 10

eToro Stands To Capitalize On The Rise Of The Apes

eToro is attempting to go public via a merger with a special purpose acquisition company. The company's social trading feature has presented both tailwinds and headwinds. Registered users and revenue continue to grow on the back of the pandemic.

Seeking Alpha • Nov 19

Fintech Acquisition Corp. V Target eToro Trades At A Discount To Its Peers (For Now)

eToro's funded accounts are ahead of their initial projections. Shares trade at a discount to their closest comps. Similar SPACs of European companies have flatlined only to jump later. The $10 SPAC floor provides downside protection while you wait.

Financial Position Analysis

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

Long Term Liabilities: FTCV 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: FTCV has negative shareholder equity, which is a more serious situation than a high debt level.

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

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

Interest Coverage: Insufficient data to determine if FTCV'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	2022/12/12 12:47
End of Day Share Price	2022/12/08 00:00
Earnings	2022/09/30
Annual Earnings	2021/12/31

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

Fintech Acquisition Corp. V is covered by 1 analysts. of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Christopher Allen	Compass Point Research & Trading, LLC