ATAI maintains a conservative capital structure with a negligible debt-to-equity ratio of 0.01, though this is offset by an accumulated deficit in retained earnings that reached $1.4 billion as of 2026Q1.
| Total Current Assets | 250.07M | 275.68M | 80.13M | 185.59M | 287.14M | 375.08M | 99.55M | 39.15M |
| Cash & Short-Term Investments | 230.77M | 256.04M | 62.33M | 179.26M | 273.11M | 362.27M | 97.25M | 30.06M |
| Cash Only | 43.1M | 85.3M | 17.5M | 45.03M | 190.61M | 362.27M | 97.25M | 30.06M |
| Short-Term Investments | 187.66M | 170.74M | 44.83M | 134.22M | 82.5M | 0 | 0 | 0 |
| Accounts Receivable | 14.71M | 14.43M | 1.35M | 2.26M | 5.63M | 6.32M | 1.29M | 8.7M |
| Days Sales Outstanding | 1.09K | 1.29K | 1.6K | 2.62K | 8.82K | 113.19 | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 4.59M | 946K | 10.78M | 846K | 1.75M | 756K | 554K | 207K |
| Total Non-Current Assets | 14.81M | 34.86M | 79.26M | 107.89M | 18.3M | 39.08M | 12M | 22.97M |
| Property, Plant & Equipment | 3.86M | 4.01M | 3.87M | 2.2M | 1.15M | 149K | 71K | 21K |
| Fixed Asset Turnover | 0.72x | 1.02x | 0.08x | 0.14x | 0.20x | 136.75x | - | - |
| Goodwill | 9.86M | 331K | 331K | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 11.59M | 3.25M | 1.77M | 0 | 0 | 0 | 0 |
| Long-Term Investments | 160.82M | 900K | 70.97M | 91.66M | 6.75M | 27.76M | 10.02M | 22.95M |
| Other Non-Current Assets | 292K | 210K | 850K | 12.25M | 10.39M | 11.18M | 1.91M | 0 |
| Total Assets | 264.88M | 310.54M | 159.39M | 293.48M | 305.44M | 414.17M | 111.55M | 62.12M |
| Asset Turnover | 0.01x | 0.01x | 0.00x | 0.00x | 0.00x | 0.05x | - | - |
| Asset Growth % | 139.23% | 94.83% | -45.69% | -3.92% | -26.25% | 271.29% | 79.58% | - |
| Total Current Liabilities | 24.96M | 23.48M | 24.95M | 20.12M | 19.9M | 20.93M | 12.3M | 1.61M |
| Accounts Payable | 10.79M | 4.91M | 2.62M | 4.59M | 2.4M | 6M | 0 | 0 |
| Days Payables Outstanding | 3.65K | 1.77K | 2.02K | 5.25K | 5.21K | 46.63K | - | - |
| Short-Term Debt | 310K | 271K | 9.36M | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 3M | 1.52M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 12.31M | 11.11M | 2.65M | 1.1M | 718K | 265K | 10.2M | 1.48M |
| Current Ratio | 10.02x | 11.74x | 3.21x | 9.22x | 14.43x | 17.92x | 8.09x | 24.36x |
| Quick Ratio | 10.02x | 11.74x | 3.21x | 9.22x | 14.43x | 17.92x | 8.09x | 24.36x |
| Cash Conversion Cycle | -2.57K | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 41.13M | 65.06M | 17.88M | 29.04M | 19.78M | 7.27M | 3.88M | 729K |
| Long-Term Debt | 0 | 0 | 14.13M | 17.88M | 15.12M | 743K | 2.18M | 157K |
| Capital Lease Obligations | 8.54M | 1.8M | 732K | 990K | 44K | 0 | 0 | 0 |
| Deferred Tax Liabilities | 17.82M | 17.82M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 39.44M | 45.44M | 3.02M | 10.18M | 4.62M | 6.53M | 1.71M | 572K |
| Total Liabilities | 66.1M | 88.54M | 42.83M | 49.16M | 39.67M | 28.21M | 16.18M | 2.34M |
| Total Debt | 2M | 2.07M | 24.71M | 19.14M | 15.34M | 743K | 2.18M | 157K |
| Net Debt | -41.1M | -83.23M | 7.2M | -25.89M | -175.27M | -361.52M | -95.07M | -29.91M |
| Debt / Equity | 0.01x | 0.01x | 0.21x | 0.08x | 0.06x | 0.00x | 0.02x | 0.00x |
| Debt / EBITDA | -0.02x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.32x | - | - | - | - | - | - | - |
| Interest Coverage | -483.30x | -85.85x | -32.87x | -47.24x | -156.48x | - | - | - |
| Total Equity | 198.78M | 222M | 116.55M | 244.32M | 265.77M | 385.96M | 95.37M | 59.78M |
| Equity Growth % | 115.7% | 90.47% | -52.29% | -8.07% | -31.14% | 304.7% | 59.53% | - |
| Book Value per Share | 0.88 | 0.98 | 0.73 | 1.54 | 1.71 | 2.40 | 0.63 | 0.39 |
| Total Shareholders' Equity | 198.68M | 221.87M | 116.3M | 242.96M | 260.74M | 376.91M | 90.82M | 58.75M |
| Common Stock | 3.66M | 3.63M | 18.79M | 18.57M | 18.56M | 18M | 8.36M | 6.57M |
| Retained Earnings | -1.39B | -1.36B | -700.21M | -550.94M | -510.19M | -357.8M | -189.31M | -19.46M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -20.6M | -20.93M | -18.47M | -19.46M | -21.7M | -8.34M | 5.82M | -1.43M |
| Minority Interest | 96K | 127K | 257K | 1.35M | 5.03M | 9.05M | 4.55M | 1.03M |
Clinical Trial Funding Runway
According to recent financial filings, ATAI's total assets have declined from a peak of $310.5 million in 2025Q4 to $264.9 million in 2026Q1, reflecting a rapid consumption of resources as the company attempts to advance its decentralized clinical pipeline without a stable commercial revenue foundation.
The downward trend in total assets suggests that the company is liquidating its resource base to fund ongoing R&D activities. This trajectory implies that the current hub-and-spoke model is becoming increasingly difficult to sustain without significant external capital injections or successful asset monetization.
Based on reported figures, ATAI maintains a negligible debt-to-equity ratio of 0.01 as of 2026Q1, indicating that the firm has avoided traditional debt financing in favor of equity-based capital raises to manage its substantial clinical development costs and ongoing operational losses.
While the low leverage profile reduces immediate insolvency risk from interest obligations, it highlights a reliance on equity dilution to fund operations. Investors should monitor whether this strategy remains viable if the broader biotech funding environment continues to tighten.
As reported in quarterly statements, ATAI's cash position dropped significantly from $85.3 million in 2025Q4 to $43.1 million in 2026Q1, a trend that warrants close investigation given the company's high burn rate and the capital-intensive nature of its multi-asset clinical trial programs.
The sharp decline in cash reserves suggests that the company's runway is shortening, potentially forcing management to prioritize specific clinical assets over others. This liquidity profile appears increasingly vulnerable, leaving little room for error in upcoming regulatory or clinical milestones.
Financial statements reveal that retained earnings have reached a deficit of $1.4 billion as of 2026Q1, a figure that underscores the massive capital destruction inherent in the company's current R&D-heavy, pre-commercial business model and its reliance on external funding to sustain operations.
The persistent growth of this deficit indicates that the company has yet to translate its clinical investments into tangible shareholder value. This trend suggests that equity holders remain exposed to significant dilution risks as the firm continues to finance its operations through capital markets.
Analysis of the balance sheet shows that goodwill fluctuated from $331,000 in 2025Q4 to $9.9 million in 2026Q1, which may indicate recent acquisitions or adjustments in the valuation of its subsidiary network that could obscure the underlying health of its core intellectual property.
This volatility in intangible assets suggests that the company's book value is sensitive to subjective accounting valuations of its hub-and-spoke entities. Investors should be cautious, as these adjustments may not reflect the actual commercial potential or clinical success of the underlying psychedelic compounds.
Quick answers to the most common questions about buying ATAI stock.
As of 2025, Atai Beckley N.V (ATAI) had total assets of $310.5M including $275.7M in current assets.
Atai Beckley N.V (ATAI) carries total debt of $2.1M, offset by $256.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Atai Beckley N.V (ATAI) has total shareholders' equity (book value) of $221.9M ($0.98 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Atai Beckley N.V (ATAI) reported a current ratio of 11.74x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.