The company's financial stability is severely compromised, evidenced by a deeply negative equity position and a current ratio that plummeted to 0.07 as of 2025Q3.
| Total Current Assets | 6.7M | 896K | 3.78M | 1.9M | 9.65M | 6.86M | 14.96M | 7.25M |
| Cash & Short-Term Investments | 5.4M | 67K | 2.85M | 723K | 7.33M | 6.56M | 14.52M | 7.08M |
| Cash Only | 5.4M | 67K | 2.85M | 723K | 7.33M | 6.56M | 14.52M | 7.08M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 183K | 183K | 323K | 88K | 2.03M | 40K | 184K | 108K |
| Days Sales Outstanding | - | - | 644.24 | 263.28 | 365.18 | 30.42 | 30.51 | 23.39 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 1.12M | 646K | 603K | 1.09M | 292K | 0 | 0 | 0 |
| Total Non-Current Assets | 164K | 167K | 885K | 1.46M | 2.21M | 1.03M | 2.18M | 434K |
| Property, Plant & Equipment | 0 | 0 | 455K | 1.07M | 1.8M | 695K | 1.46M | 114K |
| Fixed Asset Turnover | 0.00x | - | 0.40x | 0.11x | 1.13x | 0.69x | 1.51x | 14.78x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 364K | 186K | 196K | 131K | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 164K | 167K | 66K | 204K | 207K | 207K | 716K | 320K |
| Total Assets | 6.87M | 1.06M | 4.66M | 3.35M | 11.85M | 7.89M | 17.14M | 7.69M |
| Asset Turnover | 0.00x | - | 0.04x | 0.04x | 0.17x | 0.06x | 0.13x | 0.22x |
| Asset Growth % | 71.41% | -77.19% | 38.93% | -71.69% | 50.25% | -53.98% | 122.93% | - |
| Total Current Liabilities | 9.12M | 9.35M | 19.61M | 12.44M | 10.87M | 4.47M | 2.62M | 1.89M |
| Accounts Payable | 4.95M | 5.32M | 3.94M | 7.92M | 8.15M | 1.91M | 534K | 76K |
| Days Payables Outstanding | 6.31K | - | - | - | 305.05 | 80.73 | 127.81 | 16.19 |
| Short-Term Debt | 294K | 147K | 2.87M | 1.74M | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 64K | 0 | 99K | 128K |
| Other Current Liabilities | 8.82M | 9.2M | 80K | 0 | 0 | 0 | 1.99M | 1.69M |
| Current Ratio | 0.74x | 0.10x | 0.19x | 0.15x | 0.89x | 1.53x | 5.71x | 3.84x |
| Quick Ratio | 0.74x | 0.10x | 0.19x | 0.15x | 0.89x | 1.53x | 5.71x | 3.84x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 0 | 76.05M | 76.72M | 351K | 36.99M | 18.14M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 455K | 1.12M | 351K | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 75.6M | 75.6M | 0 | 36.69M | 0 |
| Total Liabilities | 0 | 0 | 19.61M | 88.49M | 87.59M | 4.82M | 39.61M | 20.03M |
| Total Debt | 294K | 147K | 3.33M | 2.89M | 1.87M | 558K | 0 | 0 |
| Net Debt | -5.1M | 80K | 478K | 2.17M | -5.45M | -6M | -14.52M | -7.08M |
| Debt / Equity | 0.54x | 0.27x | - | - | - | 0.18x | - | - |
| Debt / EBITDA | -0.04x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.72x | - | - | - | - | - | - | -1.30x |
| Interest Coverage | -6.87x | -7.49x | -17.69x | -507.96x | -67.08x | -881.00x | - | -87.54x |
| Total Equity | 549K | 549K | -14.95M | -85.14M | -75.73M | 3.07M | -22.46M | -12.35M |
| Equity Growth % | 75.64% | 103.67% | 82.44% | -12.41% | -2566.1% | 113.67% | -81.98% | - |
| Book Value per Share | 0.00 | 0.00 | -47.71 | -272.96 | -243.99 | 9.93 | -57.28 | -31.82 |
| Total Shareholders' Equity | 0 | 0 | -15.49M | -85.68M | -76.28M | 2.52M | -22.46M | -12.35M |
| Common Stock | 1K | 0 | 5K | 9K | 9K | 9K | 14K | 12K |
| Retained Earnings | -120.02M | -119M | -116.1M | -105.57M | -93.86M | -76.65M | -28.95M | -16.62M |
| Treasury Stock | 0 | 0 | 0 | -33K | -33K | -33K | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 549K | 549K | 549K | 549K | 549K | 549K | 0 | 0 |
Immediate liquidity insolvency risk
As reported in recent financial statements, the company's liquidity position has deteriorated to a critical level, with cash reserves falling to just $67,000, a figure that provides virtually no buffer against ongoing clinical development costs or the immediate operational requirements of a pre-revenue biotechnology firm.
The current ratio of 0.74 in 2026Q1, while an improvement from historical lows, remains insufficient to cover near-term obligations without external capital. This liquidity profile suggests that the company is operating in a state of extreme financial fragility, where any delay in milestone payments or financing could lead to a total cessation of operations.
Based on reported figures, the company's equity position has remained deeply negative for several quarters, with the most recent data showing a deficit that underscores the massive accumulation of historical losses and the erosion of shareholder value inherent in the current clinical-stage business model.
The persistent negative equity, which reached -$16.1 million in 2025Q3, indicates that the company has effectively exhausted its initial capital base to fund R&D. Investors should monitor whether future financing rounds will involve significant dilution, as the current capital structure appears to be entirely dependent on external equity injections to remain solvent.
According to historical balance sheet data, the company's financial trajectory has been characterized by a consistent decline in asset quality and a reliance on debt to bridge funding gaps, leaving the firm with minimal resources to advance its DiversImmune platform toward commercialization or meaningful clinical milestones.
The volatility in total assets, which dropped from $37.5 million in 2023Q3 to $6.9 million in 2026Q1, suggests a rapid liquidation of resources to sustain operations. This trend implies that the company's ability to pivot or weather clinical setbacks is severely constrained by its lack of a stable capital base.
As indicated by the provided financial data, the company's reported debt levels may mask the true extent of its financial distress, as the reliance on short-term liabilities and the absence of tangible assets suggest that the firm is essentially operating on a month-to-month basis.
The presence of debt alongside a near-zero cash balance warrants further investigation into the terms of these obligations and whether they contain restrictive covenants that could trigger insolvency. The lack of significant PPE or other tangible assets means that there is little collateral to support further borrowing, increasing the likelihood of highly dilutive equity financing.
Quick answers to the most common questions about buying ABPWW stock.
As of 2025, Abpro Holdings Inc (ABPWW) had total assets of $1.1M including $0.9M in current assets.
Abpro Holdings Inc (ABPWW) carries total debt of $0.1M, offset by $0.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Abpro Holdings Inc (ABPWW) has total shareholders' equity (book value) of $0.0M ($0.00 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Abpro Holdings Inc (ABPWW) reported a current ratio of 0.10x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.