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Enhanced Group (ENHA) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 14, 2026 · Enhanced Group (ENHA) Q2 2026 earnings results →

Q2 2026 350¢ of every $1 of revenue lost · operating margin -349.8%

Enhanced Group made $17.7M in Q2 2026. Operating margin -349.8%, net loss $61.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.

Revenue$17.7M
Year over year—
Operating margin-349.8%
Net earnings−$61.9M
Operating cash flow−$25.0M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $17.7M in Q2 2026, up 642375% from the previous quarter.

Operating costs exceeded revenue by $61.9M, an operating margin of -349.8%. The quarter ended with a net loss of $61.9M, wider than the previous quarter's $16.4M loss.

Operating cash flow was −$25.0M. Non-cash charges added back $69K of depreciation and amortization and $7.8M of share-based compensation. Working capital and other items added $29.1M. Capital expenditures of $5.1M exceeded it, leaving free cash flow of −$30.1M.

Quarterly history

Enhanced Group revenue by quarterEnhanced Group revenue by quarter$3KQ1 2026$17.7MQ2 2026
Enhanced Group net earnings by quarterEnhanced Group net earnings by quarter$1.4MQ1 2026−$61.9MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 14, 2026$17.7M—-349.8%−$61.9M−$25.0M
Q1 202610-QMay 4, 2026$3K—n/m$1.4M−$211K

Charts

Enhanced Group: where the cash came from (+) and went (−), TTM to Q2 2026Enhanced Group: where the cash came from (+) and went (−), TTM to Q2 2026Other financing$238MOther investing−$202MOperating cash flow−$37.3MCash drawn (+) / kept (−)$6.4MCapital spending−$5.7M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Enhanced Group: profit against cash, quarter by quarterEnhanced Group: profit against cash, quarter by quarterNet incomeOperating cash flow−$30KQ3 2024−$38K−$64KQ4 2024−$3.3M−$3.1MQ1 2025−$3.0M−$4.4MQ2 2025$1.5M$7.2MQ3 2025$1.1M−$457KQ4 2025−$16.4M−$19.0MQ1 2026−$61.9M−$25.0MQ2 2026
Latest (Q2 2026): Net income −$61.9M, Operating cash flow −$25.0M.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Enhanced Group

A Paradise Acquisition Corp. (formerly A Paradigm Acquisition Corp., the “Company”) is a blank check company incorporated in the British Virgin Islands (or the “BVI”) on November 9, 2022. The Company was formed for the purpose of effecting a merger, shares exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses (the “Business Combination”). Although there is no restriction or limitation on what industry or geographic region the Company’s target operates in, it is the Company’s intention to pursue prospective targets that are in the leisure and entertainment sector.

In its own words, from its 10-K, filed Feb 9, 2026.

Enhanced Group against its Services-Miscellaneous Amusement & Recreation peers

The largest companies of the same SEC industry, each at its latest quarter. Operating margin: -349.8% against the peers' median 4.5%.

CompanyQuarterRevenueY/YOp. margin
ENHA Enhanced GroupQ2 2026$17.7M—-349.8%
DIS Walt DisneyQ3 FY26$25.2B+7%22.0%
DKNG DraftKingsQ3 2026$1.3B+16%-37.1%
STUB StubHub HoldingsQ2 2026$573M+33%3.4%
PRKS United Parks & ResortsQ3 2026$506M-1%27.8%
RSI Rush Street InteractiveQ3 2026$386M+39%11.1%
MTN Vail ResortsQ4 FY26$278M+2%-75.1%
PRSU Pursuit Attractions & HospitalityQ3 2026$252M+4%45.0%
MSGE Madison Square Garden EntertainmentQ1 FY27$217M+37%4.5%

Source: Enhanced Group 10-Q on SEC EDGAR · CIK 1956439 · Services-Miscellaneous Amusement & Recreation

13F: who owns ENHA and who is buying

Largest holders of ENHA (13F)Largest holders of ENHA (13F)Davidson Kempner Capital Manageme…$3.7MCitadel Advisors LLC$3.5MBlackRock$3.0MVanguard Capital Management LLC$2.3MGeode Capital Management, LLC$2.1MValueworks LLC$2.1MUBS Group AG$1.5MCastle Hook Partners LP$1.4MHudson Bay Capital Management LP$1.4MCharles Schwab Investment Managem…$1.3M
Funds' net buying of ENHA by quarter (13F)Funds' net buying of ENHA by quarter (13F)$2.6M2026-03$25.5M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on ENHA

History

Every quarter: Q2 2026 results · Q1 2026 results

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