The company maintains a conservative capital structure with a debt-to-equity ratio of 0.03 and a robust cash position of $444.1M as of 2026Q1.
| Total Current Assets | 562.25M | 625.31M | 394.8M | 749.71K |
| Cash & Short-Term Investments | - | - | - | - |
| Cash Only | - | - | - | - |
| Short-Term Investments | - | - | - | - |
| Accounts Receivable | - | - | - | - |
| Days Sales Outstanding | - | - | - | - |
| Inventory | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - |
| Other Current Assets | 17.71M | 19.73M | 16.53M | 552.08K |
| Total Non-Current Assets | 171.94M | 163.87M | 124.26M | 351.86M |
| Property, Plant & Equipment | 28.26M | 22.84M | 21.24M | 0 |
| Fixed Asset Turnover | 17.71x | 18.36x | 15.56x | - |
| Goodwill | 37.18M | 37.99M | 17.71M | 0 |
| Intangible Assets | 11.51M | 12.05M | 8.89M | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | - | - | - | - |
| Total Assets | 734.19M | 789.18M | 519.05M | 352.61M |
| Asset Turnover | 0.60x | 0.53x | 0.64x | - |
| Asset Growth % | 135.24% | 52.04% | 47.2% | - |
| Total Current Liabilities | 260.26M | 273.69M | 222.96M | 4.49M |
| Accounts Payable | 4.05M | 3.81M | 2.35M | 4.41M |
| Days Payables Outstanding | - | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | - | - | - |
| Other Current Liabilities | 71.55M | 84.19M | 76.14M | 81.25K |
| Current Ratio | 2.16x | 2.28x | 1.77x | 0.17x |
| Quick Ratio | 2.16x | 2.28x | 1.77x | 0.17x |
| Cash Conversion Cycle | - | - | - | - |
| Total Non-Current Liabilities | 35.12M | 36.79M | 25.15M | 13.15M |
| Long-Term Debt | 13.27M | 9.95M | 9.91M | 0 |
| Capital Lease Obligations | 0 | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - |
| Other Non-Current Liabilities | - | - | - | - |
| Total Liabilities | 295.38M | 310.48M | 248.11M | 17.64M |
| Total Debt | 13.27M | 9.95M | 9.91M | 0 |
| Net Debt | -430.86M | -471.11M | -280.83M | -197.63K |
| Debt / Equity | 0.03x | 0.02x | 0.04x | - |
| Debt / EBITDA | 0.27x | 0.25x | 0.79x | - |
| Net Debt / EBITDA | -8.82x | -12.01x | -22.38x | - |
| Interest Coverage | - | - | - | -3.30x |
| Total Equity | 438.81M | 478.7M | 272.74M | 334.97M |
| Equity Growth % | 75.51% | 75.51% | -18.58% | - |
| Book Value per Share | 1.94 | 2.09 | 1.48 | 7.52 |
| Total Shareholders' Equity | 438.81M | 478.7M | 270.95M | 334.97M |
| Common Stock | 21K | 22K | 19K | 329.97M |
| Retained Earnings | -531.32M | -510.08M | -510.45M | -3.35M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 6.13M | 8.37M | 576K | 0 |
| Minority Interest | 0 | 0 | 1.79M | 0 |
Platform Ecosystem Dependency
As reported in financial statements, total assets have grown from $463.0M in 2024Q3 to $734.2M by 2026Q1, reflecting a deliberate scaling of the balance sheet to support the company's ongoing expansion within the Microsoft 365 ecosystem and its associated enterprise data governance service requirements.
The consistent increase in total assets suggests that the company is successfully reinvesting capital to capture market share. Investors should monitor whether this asset growth translates into sustained long-term returns or if it merely reflects the accumulation of working capital necessary to support a larger customer base.
Based on recent quarterly filings, the company maintains a strong liquidity position with $444.1M in cash as of 2026Q1, resulting in a current ratio of 2.16, which provides a significant buffer against potential market volatility or unexpected increases in customer acquisition costs.
This liquidity profile appears to offer the company substantial flexibility to fund organic growth initiatives without immediate reliance on external financing. The current ratio suggests that the company is well-positioned to meet its short-term obligations while maintaining the agility to pivot its strategy if competitive pressures intensify.
According to the provided balance sheet data, the company's equity base of $438.8M in 2026Q1 is significantly offset by a persistent accumulated deficit of $531.3M, which warrants further investigation into the long-term sustainability of the current capital structure and its impact on shareholder value.
The presence of a large accumulated deficit suggests that historical losses continue to weigh on the balance sheet despite recent operational improvements. Analysts should consider whether the ongoing share repurchase activity is an appropriate use of capital given the negative retained earnings position.
As indicated by the 2026Q1 data, the company maintains a conservative capital structure with a debt-to-equity ratio of only 0.03, suggesting that management has prioritized financial independence and avoided the risks associated with high interest-bearing obligations during its growth phase.
This minimal reliance on debt implies that the company is largely insulated from interest rate fluctuations, which is a positive signal for long-term solvency. The low leverage profile suggests that the company's growth is primarily funded through equity and operational cash flow rather than debt-driven expansion.
Quick answers to the most common questions about buying APXT stock.
As of 2025, Apex Treasury Corporation Class A (APXT) had total assets of $789.2M including $625.3M in current assets.
Apex Treasury Corporation Class A (APXT) carries total debt of $9.9M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Apex Treasury Corporation Class A (APXT) has total shareholders' equity (book value) of $478.7M ($2.09 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Apex Treasury Corporation Class A (APXT) reported a current ratio of 2.28x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.