Inflection Point Acquisition Corp IV-A 2025年度报告

FORM 10-K ☒Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2025 ☐Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period fromto Commission File Number: 001-42392 INFLECTION POINT ACQUISITION CORP. IV(Exact name of registrant as specified in its charter) Cayman Islands98-1797826(State or other jurisdiction of(I.R.S. Employer incorporation or organization)Identification No.) 1345 Avenue of the Americas, Fl 47New York, NY10105 (Address of principal executive offices)(Zip Code) (212) 984-3835(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to Section12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act 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 the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Largeacceleratedfiler☐Acceleratedfiler☐Non-accelerated filer☒Smallerreportingcompany☒Emerging 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 has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☒No☐ The aggregate market value of the voting and non-voting common equity held by non-affiliates of the Registrant as of June 30, 2025,the last business day of the Registrant’s most recently completed second fiscal quarter, computed by reference to the closing price ofthe Class A Ordinary Shares reported on the Nasdaq Global Market (“Nasdaq”) on June 30, 2025, of $10.31 per share, was$257,750,000. As of March 11, 2026, there were 25,425,000 Class A ordinary shares, par value $0.0001 per share, and 8,333,333 Class B ordinaryshares, par value $0.0001 per share, of the registrant issued and outstanding. Documents Incorporated by Reference: None. TABLE OF CONTENTS PAGEPART I1Item1.Business.1Item1A.Risk Factors.20Item1B.Unresolved Staff Comments.54Item 1CCybersecurity.54Item 2.Properties.54Item 3.Legal Proceedings.54Item 4.Mine Safety Disclosures.54PART IIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities.55Item 6.[Reserved]56Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations.56Item7A.Quantitative and Qualitative Disclosures About Market Risk.65Item 8.Financial Statements and Supplementary Data.65Item 9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.65Item 9A.Controls and Procedures.65Item 9B.Other Information.66Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.66PART IIIItem 10.Directors, Executive Officers and Corporate Governance.67Item 11.Executive Compensation.73Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.74Item 13.Certain Relationships and Related Transac