The company's financial position appears increasingly constrained, with total assets contracting to $36.2 million from a 2022Q2 peak of $143.2 million, alongside accumulated losses reaching -$240.1 million.
| Total Current Assets | 32.16M | 40.02M | 23.7M | 86.35M | 56.64M | 90.26M | 475K | 5.12M |
| Cash & Short-Term Investments | 28.86M | 36.98M | 18.7M | 44.45M | 48.97M | 86.97M | 195K | 4.23M |
| Cash Only | 28.86M | 36.98M | 18.7M | 44.45M | 48.97M | 86.97M | 195K | 4.23M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 3.3M | 3.04M | 471K | 3.22M | 7.68M | 913.18K | 0 | 0 |
| Days Sales Outstanding | 549.8 | 2.09K | 586.74 | 1.83K | 388.53 | 6.96K | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 2.1M | 0 | -883.52K |
| Days Inventory Outstanding | - | - | - | - | - | 4.1K | - | - |
| Other Current Assets | 0 | 0 | 4.01M | 38.68M | 892K | 0 | 151K | 883.52K |
| Total Non-Current Assets | 4.07M | 2.83M | 3.02M | 13.44M | 67.23M | 23.47M | 8.84M | 4.05M |
| Property, Plant & Equipment | 2.03M | 720K | 1.08M | 8.11M | 8.35M | 198.85K | 27K | 5.08K |
| Fixed Asset Turnover | 1.21x | 0.74x | 0.27x | 0.08x | 0.86x | 0.24x | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 2.04M | 2.11M | 1.74M | 3.41M | 40.29M | 18.24M | 8.78M | 4.05M |
| Long-Term Investments | 0 | 0 | 0 | 30K | 28K | 33.69K | 32K | 0 |
| Other Non-Current Assets | 0 | 0 | 202K | 1.89M | 18.57M | 5M | 216.58K | 0 |
| Total Assets | 36.24M | 42.85M | 26.72M | 99.78M | 123.87M | 113.73M | 9.31M | 9.18M |
| Asset Turnover | 0.04x | 0.01x | 0.01x | 0.01x | 0.06x | 0.00x | - | - |
| Asset Growth % | -19.24% | 60.38% | -73.22% | -19.45% | 8.92% | 1121.41% | 1.47% | - |
| Total Current Liabilities | 6.59M | 14.9M | 12.2M | 26.82M | 23.81M | 17.07M | 7.85M | 3.8M |
| Accounts Payable | 807K | 47K | 9.01M | 11.79M | 17.48M | 9.75M | 257K | 252.77K |
| Days Payables Outstanding | 1.07K | 22.57 | 1.75K | 1.88K | 4.94K | 19.03K | 589.97 | 299.55K |
| Short-Term Debt | 1.03M | 0 | 0 | 0 | 0 | 0 | 5.46M | 0 |
| Deferred Revenue (Current) | 808K | 444K | 4K | 18K | 225K | 2.66M | 1.56M | 1.49M |
| Other Current Liabilities | 2.86M | 10.94M | 1.03M | 5.87M | 1.15M | 4.08M | 373K | 0 |
| Current Ratio | 4.88x | 2.69x | 1.94x | 3.22x | 2.38x | 5.29x | 0.06x | 1.35x |
| Quick Ratio | 4.88x | 2.69x | 1.94x | 3.22x | 2.38x | 5.16x | 0.06x | 1.58x |
| Cash Conversion Cycle | -524.95 | - | - | - | - | -7.97K | - | - |
| Total Non-Current Liabilities | 1.14M | 715K | 2.7M | 6.31M | 21.51M | 130.5M | 534K | 4.05M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.3M |
| Capital Lease Obligations | 2.88M | 454K | 704K | 6.28M | 6.68M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 550.72K |
| Other Non-Current Liabilities | 0 | 261K | 2M | 6K | 10.64M | 128.04M | 0 | 0 |
| Total Liabilities | 7.73M | 15.62M | 14.9M | 33.13M | 45.32M | 147.57M | 8.38M | 7.85M |
| Total Debt | 2.17M | 719K | 990K | 8.4M | 7.83M | 0 | 5.46M | 3.3M |
| Net Debt | -26.69M | -36.26M | -17.71M | -36.05M | -41.13M | -86.97M | 5.26M | -929.06K |
| Debt / Equity | 0.08x | 0.03x | 0.08x | 0.13x | 0.10x | - | 5.86x | 2.49x |
| Debt / EBITDA | -0.03x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.36x | - | - | - | - | - | - | - |
| Interest Coverage | -226.98x | -782.67x | -106.52x | -154.33x | 242.67x | -251.07x | -0.01x | 9.86x |
| Total Equity | 28.5M | 27.24M | 11.82M | 66.65M | 78.56M | -33.84M | 931K | 1.32M |
| Equity Growth % | 130.81% | 130.46% | -82.27% | -15.15% | 332.13% | -3734.89% | -29.63% | - |
| Book Value per Share | 1.72 | 1.98 | 2.34 | 12.67 | 16.11 | -12.38 | 0.39 | 0.56 |
| Total Shareholders' Equity | 28.5M | 27.24M | 11.82M | 66.65M | 78.56M | -33.84M | 931K | 1.32M |
| Common Stock | 41K | 38K | 29K | 16K | 12K | 11.01K | 863 | 158 |
| Retained Earnings | -240.06M | -373.83M | -332.11M | -277.53M | -207.14M | -272.21M | -486K | 82.83K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 30.55M | 194.56M | 157.36M | 207.15M | 170.16M | 167.06M | 1.42M | 1.24M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Binary commercialization failure risk
According to historical balance sheet data, Arqit's total assets have declined from a peak of $143.2 million in 2022Q2 to $36.2 million by 2026Q2, signaling a significant reduction in the company's resource base as it shifts away from its original capital-intensive satellite-centric business model.
The sharp reduction in total assets suggests that the company is aggressively shedding non-core infrastructure to preserve liquidity. This trajectory implies that management is attempting to right-size the organization for a leaner software-only future, though the shrinking asset base limits the company's ability to pivot again if the current strategy fails to gain traction.
As reported in financial statements, Arqit's cash position has dwindled to $28.9 million as of 2026Q2, down from $87.0 million in 2021Q4, which highlights the ongoing pressure on the company's liquidity buffer as it continues to fund operations without a self-sustaining revenue stream.
While the current ratio of 4.88 appears superficially healthy, it is heavily influenced by the remaining cash balance rather than operational efficiency. Investors should monitor the rate of cash depletion closely, as the current burn rate suggests that the company may face a liquidity crunch if it cannot secure additional funding or achieve commercial scale in the near term.
Based on reported figures, Arqit's equity has been severely impacted by persistent losses, with retained earnings reaching -$240.1 million as of 2026Q2, reflecting the substantial capital destruction that has occurred since the company's transition to the public markets.
The consistent accumulation of negative retained earnings underscores the difficulty the company faces in achieving profitability. This trend suggests that shareholder value has been primarily eroded by high operating costs and R&D spending that have yet to translate into a viable, scalable commercial product.
Data from recent filings indicates that Arqit has historically carried significant goodwill on its balance sheet, which peaked at $57.2 million in 2023Q2 before being written down to $2.0 million, suggesting that past acquisitions have failed to deliver the anticipated strategic value to the core business.
The volatility in goodwill valuations warrants further investigation into the company's historical M&A strategy and the potential for future impairments. Such adjustments often mask the true extent of operational underperformance and complicate the assessment of the company's underlying tangible asset quality.
Quick answers to the most common questions about buying ARQQ stock.
As of 2025, Arqit Quantum Inc. (ARQQ) had total assets of $42.9M including $40.0M in current assets.
Arqit Quantum Inc. (ARQQ) carries total debt of $0.7M, offset by $37.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Arqit Quantum Inc. (ARQQ) has total shareholders' equity (book value) of $27.2M ($1.98 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Arqit Quantum Inc. (ARQQ) reported a current ratio of 2.69x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.