The company's financial foundation has eroded significantly, with total assets falling to $6.2 million and equity turning negative at -$10.8 million by 2025Q4.
| Total Current Assets | 3.6M | 5.06M | 1.81M | 3.82M | 3.98M | 127.6K |
| Cash & Short-Term Investments | 503.56K | 3.84M | 82.82K | 492.49K | 3.5M | 13.5K |
| Cash Only | 503.56K | 3.84M | 82.82K | 228.79K | 3.5M | 13.5K |
| Short-Term Investments | 0 | 0 | 0 | 263.69K | 0 | 0 |
| Accounts Receivable | 1.4M | 822.07K | 284.51K | 1.24M | 242.36K | 0 |
| Days Sales Outstanding | 1.98K | 358.63 | 48.08 | 172.16 | 2.14K | - |
| Inventory | 0 | 0 | 1.29M | 1.87M | 0 | 611 |
| Days Inventory Outstanding | - | - | 229.29 | 1.05K | - | 123.28 |
| Other Current Assets | 574 | 3.22K | 11.06K | 27.01K | 212.9K | 0 |
| Total Non-Current Assets | 2.59M | 2.86M | 7.03M | 35.18M | 4.07M | 4.15M |
| Property, Plant & Equipment | 2.59M | 2.34M | 2.64M | 12.48M | 3.81M | 3.83M |
| Fixed Asset Turnover | 0.10x | 0.36x | 0.82x | 0.21x | 0.01x | 0.00x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 15.83K | 3.8M | 22.21M | 259.1K | 321.41K |
| Long-Term Investments | 0 | 503.49K | 593.23K | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 967.18K | 0 | 0 |
| Total Assets | 6.2M | 7.91M | 8.84M | 39M | 8.05M | 4.27M |
| Asset Turnover | 0.04x | 0.11x | 0.24x | 0.07x | 0.01x | 0.00x |
| Asset Growth % | -21.71% | -10.47% | -77.33% | 384.67% | 88.22% | - |
| Total Current Liabilities | 6.2M | 3.64M | 10.17M | 9.35M | 8.27M | 2.73M |
| Accounts Payable | 3.31M | 2.98M | 6.01M | 7.14M | 680.33K | 183.9K |
| Days Payables Outstanding | 2.92K | 1.73K | 1.07K | 4.01K | 328.4 | 37.1K |
| Short-Term Debt | 2.06M | 352.81K | 1.37M | 936.79K | 7.15M | 2.26M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 1.42M | 377.46K | 0 | 0 |
| Current Ratio | 0.58x | 1.39x | 0.18x | 0.41x | 0.48x | 0.05x |
| Quick Ratio | 0.58x | 1.39x | 0.05x | 0.21x | 0.48x | 0.05x |
| Cash Conversion Cycle | - | - | -794.25 | -2.79K | - | - |
| Total Non-Current Liabilities | 11.99M | 0 | 2.5M | 2.75M | 1.98M | 6.58M |
| Long-Term Debt | 11.78M | 0 | 2.5M | 2.63M | 0 | 3.98M |
| Capital Lease Obligations | 208.68K | 0 | 0 | 116.76K | 1.98M | 2.6M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 18.19M | 3.64M | 12.67M | 12.1M | 10.25M | 9.31M |
| Total Debt | 14.24M | 352.81K | 4M | 3.9M | 9.57M | 9.12M |
| Net Debt | 13.73M | -3.49M | 3.92M | 3.67M | 6.07M | 9.11M |
| Debt / Equity | - | 0.08x | - | 0.14x | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - |
| Interest Coverage | -50.20x | -31.65x | -125.24x | -70.41x | -234.39x | -2.57x |
| Total Equity | -11.99M | 4.28M | -3.83M | 26.9M | -2.2M | -5.03M |
| Equity Growth % | -380.38% | 211.69% | -114.23% | 1321.94% | 56.25% | - |
| Book Value per Share | -173.92 | 256.51 | -348081.09 | 38816.97 | -3808.69 | -8705.78 |
| Total Shareholders' Equity | -10.79M | 4.28M | -3.83M | 26.9M | -2.2M | -5.03M |
| Common Stock | 94.61M | 63.32M | 51.02M | 49.43M | 7.26M | 1.64K |
| Retained Earnings | -103.09M | -57.46M | -53.36M | -21.09M | -13.29M | -5.16M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -2.3M | -1.58M | -1.49M | -1.45M | 3.84M | 129.11K |
| Minority Interest | -1.21M | 0 | 0 | 0 | 0 | 0 |
Imminent insolvency and dilution
As reported in recent financial filings, Akanda's total assets have plummeted from $43.5 million in 2022Q2 to just $6.2 million by 2025Q4, signaling a severe contraction in the company's resource base and a fundamental weakening of its overall balance sheet quality over the observed period.
The consistent decline in total assets reflects the divestment or impairment of core operational assets, most notably the loss of the Lesotho cultivation site. This trajectory suggests that the company is struggling to maintain a viable asset base to support its ongoing medical cannabis distribution activities.
Based on the company's latest balance sheet data, cash reserves have dwindled to a precarious $503.6K as of 2025Q4, representing a significant decline from the $6.0 million reported in 2024Q2 and leaving the firm with minimal buffer against ongoing operational cash burn.
The current ratio of 0.58 indicates that current liabilities significantly outweigh current assets, suggesting an inability to meet short-term obligations without external capital injections. Investors should monitor this liquidity gap closely, as it implies a high probability of further dilutive financing or potential insolvency.
According to historical balance sheet figures, Akanda's equity position has deteriorated into negative territory, reaching -$10.8 million in 2025Q4, which highlights the cumulative impact of persistent net losses and the erosion of shareholder value over the past several years of operations.
The accumulation of -$103.1 million in retained earnings underscores a long-term failure to achieve profitability, effectively wiping out the company's book value. This negative equity position suggests that the firm is currently operating entirely on debt or external capital, which may limit future strategic flexibility.
As indicated by the balance sheet, the total elimination of goodwill from $23.4 million in 2022Q2 to $0 in 2025Q4 suggests that previous acquisition-related valuations were overly optimistic and have since been fully impaired, leaving little tangible value to support the company's current market capitalization.
The reliance on $2.6 million in net PPE, despite the loss of primary cultivation assets, warrants further investigation into whether these assets remain productive or are merely legacy items awaiting write-down. This potential for further impairment poses a significant risk to the remaining asset base.
Quick answers to the most common questions about buying AKAN stock.
As of 2025, Akanda Corp. (AKAN) had total assets of $6.2M including $3.6M in current assets.
Akanda Corp. (AKAN) carries total debt of $14.2M, offset by $0.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Akanda Corp. (AKAN) has total shareholders' equity (book value) of $-10.8M ($-173.92 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Akanda Corp. (AKAN) reported a current ratio of 0.58x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.