The company's financial position is severely impaired, evidenced by a negative equity balance of $16.1 million and a current ratio that has deteriorated to a precarious 0.07 as of 2025Q3.
| Total Current Assets | 1.23M | 3.78M | 1.9M | 9.65M | 6.86M | 14.96M | 7.25M |
| Cash & Short-Term Investments | 343K | 2.85M | 723K | 7.33M | 6.56M | 14.52M | 7.08M |
| Cash Only | 343K | 2.85M | 723K | 7.33M | 6.56M | 14.52M | 7.08M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 271K | 323K | 88K | 2.03M | 40K | 184K | 108K |
| Days Sales Outstanding | 631.77 | 644.24 | 263.28 | 365.18 | 30.42 | 30.51 | 23.39 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 611K | 603K | 1.09M | 292K | 0 | 0 | 0 |
| Total Non-Current Assets | 478K | 885K | 1.46M | 2.21M | 1.03M | 2.18M | 434K |
| Property, Plant & Equipment | 0 | 455K | 1.07M | 1.8M | 695K | 1.46M | 114K |
| Fixed Asset Turnover | 0.79x | 0.40x | 0.11x | 1.13x | 0.69x | 1.51x | 14.78x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 169K | 364K | 186K | 196K | 131K | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 309K | 66K | 204K | 207K | 207K | 716K | 320K |
| Total Assets | 1.7M | 4.66M | 3.35M | 11.85M | 7.89M | 17.14M | 7.69M |
| Asset Turnover | 0.06x | 0.04x | 0.04x | 0.17x | 0.06x | 0.13x | 0.22x |
| Asset Growth % | -35.11% | 38.93% | -71.69% | 50.25% | -53.98% | 122.93% | - |
| Total Current Liabilities | 17.3M | 19.61M | 12.44M | 10.87M | 4.47M | 2.62M | 1.89M |
| Accounts Payable | 4.72M | 3.94M | 7.92M | 8.15M | 1.91M | 534K | 76K |
| Days Payables Outstanding | 5.99K | - | - | 305.05 | 80.73 | 127.81 | 16.19 |
| Short-Term Debt | 147K | 2.87M | 1.74M | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 64K | 0 | 99K | 128K |
| Other Current Liabilities | 10.11M | 80K | 0 | 0 | 0 | 1.99M | 1.69M |
| Current Ratio | 0.07x | 0.19x | 0.15x | 0.89x | 1.53x | 5.71x | 3.84x |
| Quick Ratio | 0.07x | 0.19x | 0.15x | 0.89x | 1.53x | 5.71x | 3.84x |
| Cash Conversion Cycle | -5.35K | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 76.05M | 76.72M | 351K | 36.99M | 18.14M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 455K | 1.12M | 351K | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 75.6M | 75.6M | 0 | 36.69M | 0 |
| Total Liabilities | 17.3M | 19.61M | 88.49M | 87.59M | 4.82M | 39.61M | 20.03M |
| Total Debt | 147K | 3.33M | 2.89M | 1.87M | 558K | 0 | 0 |
| Net Debt | -196K | 478K | 2.17M | -5.45M | -6M | -14.52M | -7.08M |
| Debt / Equity | -0.01x | - | - | - | 0.18x | - | - |
| Debt / EBITDA | -0.01x | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.02x | - | - | - | - | - | -1.30x |
| Interest Coverage | -8.45x | -25.64x | -510.70x | -67.28x | -881.00x | - | 77.91x |
| Total Equity | -15.6M | -14.95M | -85.14M | -75.73M | 3.07M | -22.46M | -12.35M |
| Equity Growth % | 55.01% | 82.44% | -12.41% | -2566.1% | 113.67% | -81.98% | - |
| Book Value per Share | -5.97 | -47.71 | -272.96 | -243.99 | 9.93 | -57.28 | -31.82 |
| Total Shareholders' Equity | -16.14M | -15.49M | -85.68M | -76.28M | 2.52M | -22.46M | -12.35M |
| Common Stock | 0 | 5K | 9K | 9K | 9K | 14K | 12K |
| Retained Earnings | -124.63M | -116.1M | -105.57M | -93.86M | -76.65M | -28.95M | -16.62M |
| Treasury Stock | 0 | 0 | -33K | -33K | -33K | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 549K | 549K | 549K | 549K | 549K | 0 | 0 |
Imminent liquidity insolvency risk
As reported in financial statements, Abpro's total assets have plummeted from $37.5 million in 2023Q3 to a mere $1.7 million by 2025Q3, reflecting a rapid depletion of resources that underscores the company's inability to sustain its operational trajectory without consistent, highly dilutive external capital injections.
The consistent decline in total assets alongside a widening deficit in retained earnings suggests that the company is consuming its remaining capital to fund ongoing R&D rather than building long-term value. This trajectory indicates that the business model remains entirely dependent on external financing, which appears increasingly difficult to secure given the current asset base.
Based on Abpro's reported figures, the current ratio has deteriorated to a precarious 0.07 as of 2025Q3, indicating that the company lacks the liquid assets necessary to cover its immediate short-term obligations, thereby heightening the risk of a near-term liquidity crisis for the biotechnology firm.
A current ratio well below 1.0 suggests that current liabilities significantly outweigh available cash and near-term assets, leaving the company with virtually no buffer against operational shocks. Investors should monitor this metric closely, as it implies that the company may be forced to seek emergency financing or restructure its existing debt obligations to remain a going concern.
According to recent SEC filings, Abpro's equity position has remained deeply negative, reaching -$16.1 million in 2025Q3, which highlights the cumulative impact of years of operating losses and the absence of a sustainable revenue stream to offset the company's aggressive research and development spending profile.
The persistent negative equity indicates that the company has effectively exhausted its book value, leaving shareholders with no residual claim on assets in the event of a liquidation. This structural impairment suggests that the market's valuation of the firm is entirely speculative, relying on the potential success of future clinical milestones rather than current balance sheet strength.
As indicated by the company's financial data, the reliance on minimal cash reserves of $343,000 against significant liabilities suggests that the headline asset figures are potentially misleading, as they do not account for the high probability of further impairment or the urgent need for capital restructuring.
The presence of goodwill and other intangibles on the balance sheet, while small, warrants further investigation to determine if these assets are truly recoverable given the company's distressed financial state. The lack of tangible assets to support the current liability load suggests that the balance sheet may be significantly more fragile than the nominal figures imply.
Quick answers to the most common questions about buying ABP stock.
As of 2024, Abpro Corporation (ABP) had total assets of $4.7M including $3.8M in current assets.
Abpro Corporation (ABP) carries total debt of $3.3M, offset by $2.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Abpro Corporation (ABP) has total shareholders' equity (book value) of $-15.5M ($-47.71 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Abpro Corporation (ABP) reported a current ratio of 0.19x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.