Inflection Point Acquisition Corp III-A 2026年季度报告

FORM 10-Q (MARK ONE)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2026 Commission file number: 001-42614 INFLECTION POINT ACQUISITION CORP. III(Exact Name of Registrant as Specified in Its Charter) Not Applicable(Former name or former address, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reportingcompany”, and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filer Accelerated filerSmaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☒No☐ As of May 14, 2026, there were 26,040,000 Class A ordinary shares, $0.0001 par value per share and 8,433,333 Class B ordinaryshares, $0.0001 par value per share, issued and outstanding. INFLECTION POINT ACQUISITION CORP. III FORM 10-Q FOR THE QUARTER ENDED MARCH 31, 2026 TABLE OF CONTENTS PagePart I. Financial Information1Item 1. Financial Statements1Condensed Consolidated Balance Sheets as of March 31, 2026 (Unaudited) and December 31, 20251Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2026, and 2025(Unaudited)2Condensed Consolidated Statements of Changes in Shareholders’ Deficit for the Three Months Ended March 31,2026, and 2025 (Unaudited)3Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and 2025(Unaudited)4Notes to Condensed Consolidated Financial Statements (Unaudited)5Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations23Item 3. Quantitative and Qualitative Disclosures Regarding Market Risk31Item 4. Controls and Procedures31Part II. Other Information32Item 1. Legal Proceedings32Item 1A. Risk Factors32Item 2. Unregistered Sales of Equity Securities and Use of Proceeds32Item 3. Defaults Upon Senior Securities33Item 4. Mine Safety Disclosures33Item 5. Other Information33Item 6. Exhibits33Part III. Signatures34 PART I - FINANCIAL INFORMATION INFLECTION POINT ACQUISITION CORP. IIICONDENSED CONSOLIDATED BALANCE SHEETS INFLECTION POINT ACQUISITION CORP. IIICONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED) For the Three MonthsEnded March 31, (1)For the three months ended March 31, 2025, excludes up to 1,100,000 of the founder shares that were subject to surrender by theSponsor for no consideration depending on the extent to which the underwriters’ over-allotment is exercised (Note 5). On April28, 2025, the Company consummated the Initial Public Offering of 25,300,000units at $10.00 per unit, which includes the fullexercise of the underwriter’s over-allotment option, therefore the 1,100,000 founder shares are no longer subject to forfeiture. (2)On October10, 2024, in connection with a recapitalization, the Company issued the Sponsor an additional 1,916,667 ClassBordinary shares for no additional consideration, following which the Sponsor holds 7,666,667 ClassB ordinary shares. OnNovember18, 2024, the Company effected a share capitalization of 766,667 ClassB ordinary shares, as a result of which theSponsor owns 8,433,333 founder shares for which it paid approximately $0.003 per share. All share amounts have beenretroactively restated to reflect these adjustments. The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. INFLECTION POINT ACQUISITION CORP. IIICONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ DEFICIT(UNAUDITED) FOR THE THREE MONTHS ENDED MARCH 31, 2026 INFLECTION POINT ACQUISITION CORP. IIICONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(UNAUDITED) INFLECTION POINT ACQUISITION CORP. IIINOTES TO CONDENSED CONSOLIDATED FINANCIA