The company's financial position is weakening as retained earnings have accumulated to a deficit of -$146.3 million as of 2026Q1, reflecting significant erosion of the equity base.
| Total Current Assets | 69.9M | 79.41M | 17.13M | 4.73M | 6.94M | 10.97M | 6.16M | 7.3M | 247.68K | 664K |
| Cash & Short-Term Investments | 57.34M | 69.55M | 13.73M | 2.34M | 2.62M | 8.53M | 5.4M | 5.91M | 247.68K | 157K |
| Cash Only | 16.68M | 13.53M | 13.53M | 2.27M | 2.62M | 8.47M | 5.4M | 289K | 247.68K | 157K |
| Short-Term Investments | 40.66M | 56.03M | 206K | 77K | 8K | 60K | 0 | 5.62M | 0 | 0 |
| Accounts Receivable | 7.02M | 3.44M | 2.38M | 1.81M | 2.27M | 1.24M | 258K | 978K | 0 | 205K |
| Days Sales Outstanding | 145.12 | 158.87 | 121.33 | 58.21 | 88.76 | 168.7 | 88.17 | 257.93 | - | 56.56 |
| Inventory | 5.54M | 3.89M | 796K | 250K | 375K | 1.15M | 19K | 38K | 39K | 51K |
| Days Inventory Outstanding | 174.01 | 208.64 | 56.09 | 9.73 | 18.21 | 206.34 | 8.13 | 17.71 | 16.36 | 20.15 |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 192K | 1.08M | 0 | 251K |
| Total Non-Current Assets | 6.92M | 5.75M | 1.75M | 3.79M | 5.75M | 3.16M | 2.69M | 2.71M | 739K | 759K |
| Property, Plant & Equipment | 3.6M | 3.56M | 1.54M | 1.86M | 2.36M | 1.07M | 456K | 326K | 286K | 298K |
| Fixed Asset Turnover | 2.90x | 2.22x | 4.64x | 6.11x | 3.97x | 2.50x | 2.34x | 4.25x | 4.64x | 4.44x |
| Goodwill | 0 | 0 | 0 | 0 | 1.19M | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 637K | 637K | 0 | 1.85M | 2.21M | 2.09M | 2.24M | 2.34M | 0 | 0 |
| Long-Term Investments | 4.23M | 333K | 200K | 77K | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 1.22M | 0 | 0 | 0 | 0 | 0 | 30K | 453K | 461K |
| Total Assets | 76.82M | 85.16M | 18.88M | 8.52M | 12.69M | 14.13M | 8.85M | 10.01M | 247.68K | 1.42M |
| Asset Turnover | 0.13x | 0.09x | 0.38x | 1.34x | 0.74x | 0.19x | 0.12x | 0.14x | 5.36x | 0.93x |
| Asset Growth % | 1678.69% | 351.11% | 121.6% | -32.89% | -10.17% | 59.64% | -11.6% | 3943.19% | -82.59% | - |
| Total Current Liabilities | 6.61M | 6.95M | 11.54M | 5.63M | 6.24M | 2.37M | 1.3M | 1.1M | 8.02K | 1.55M |
| Accounts Payable | 4.13M | 3.35M | 1.83M | 1.74M | 2.22M | 989K | 541K | 509K | 0 | 365K |
| Days Payables Outstanding | 124.71 | 179.52 | 129.23 | 67.77 | 107.99 | 177.91 | 231.49 | 237.27 | - | 144.18 |
| Short-Term Debt | 854K | 9K | 826K | 1.17M | 1.4M | 158K | 358K | 200K | 329K | 449K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 1.37M | 0 | 0 | 0 | -764K | 0 |
| Other Current Liabilities | 1.63M | 576K | 8.66M | 1.28M | 0 | 0 | 0 | -212K | -755.98K | 467K |
| Current Ratio | 10.57x | 11.42x | 1.48x | 0.84x | 1.11x | 4.62x | 4.75x | 6.61x | 30.90x | 0.43x |
| Quick Ratio | 9.74x | 10.86x | 1.42x | 0.80x | 1.05x | 4.14x | 4.74x | 6.58x | 26.03x | 0.40x |
| Cash Conversion Cycle | 194.41 | 187.99 | 48.19 | 0.16 | -1.02 | 197.12 | -135.19 | 38.37 | - | -67.48 |
| Total Non-Current Liabilities | 1.56M | 1.79M | 496K | 5.2M | 3.57M | 852K | 9.53M | 363K | 234K | 262K |
| Long-Term Debt | 28K | 29K | 108K | 228K | 341K | 483K | 666K | 356K | 135K | 107K |
| Capital Lease Obligations | 6.4M | 1.76M | 241K | 410K | 605K | 151K | 0 | 52K | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 147K | 4.56M | 2.62M | 218K | 8.86M | 154K | -135K | 155K |
| Total Liabilities | 8.18M | 8.74M | 12.03M | 10.83M | 9.8M | 3.22M | 10.82M | 1.47M | 8.02K | 1.81M |
| Total Debt | 2.42M | 2.62M | 1.39M | 1.99M | 2.63M | 918K | 1.04M | 415K | 464K | 556K |
| Net Debt | -14.26M | -10.91M | -12.13M | -273K | 14K | -7.55M | -4.35M | 126K | 216.32K | 399K |
| Debt / Equity | 0.04x | 0.03x | 0.20x | - | 0.91x | 0.08x | - | 0.05x | 1.94x | - |
| Debt / EBITDA | -0.07x | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.39x | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -51.30x | -193.91x | -408.85x | -290.24x | -188.14x | -2866.71x | -55.36x | -22.44x | -3813.16x | - |
| Total Equity | 68.65M | 76.42M | 6.84M | -2.31M | 2.89M | 10.91M | -1.97M | 8.55M | 239.66K | -387K |
| Equity Growth % | 24748.7% | 1016.61% | 396.41% | -179.92% | -73.51% | 652.81% | -123.08% | 3466.3% | 161.93% | - |
| Book Value per Share | 1.54 | 2.07 | 0.32 | -0.06 | 0.10 | 0.47 | -0.12 | 0.63 | 0.32 | -0.29 |
| Total Shareholders' Equity | 69.47M | 77.97M | 13.91M | 2.49M | 5.29M | 11.51M | -2.49M | 7.97M | 239.66K | -387K |
| Common Stock | 210.36M | 0 | 83.12M | 55.48M | 43.45M | 28.3M | 10.45M | 6.55M | 301.66K | 0 |
| Retained Earnings | -146.26M | -138.19M | -100.45M | -83.46M | -67.39M | -50.84M | -11.6M | -4.14M | -103.93K | -1.37M |
| Treasury Stock | -3.48M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 8.85M | -1.87M | -549K | 29.53M | -1.63M | -708K | -1.34M | -70K | 41.93K | -100K |
| Minority Interest | -829K | -1.55M | -7.07M | -4.8M | -2.4M | -607K | 520K | 577K | 0 | 0 |
Imminent liquidity and dilution
As reported in financial statements, A2Z's equity base has experienced significant volatility, contracting from $78.0M in 2025Q4 to $69.5M in 2026Q1, a trend driven primarily by the accumulation of retained earnings losses which reached -$146.3M, signaling a weakening balance sheet trajectory that warrants investor caution.
The persistent decline in retained earnings suggests that the company's operational model is failing to generate sufficient value to offset its high burn rate. This erosion of equity indicates that the business is currently reliant on external capital injections rather than internal value creation to sustain its operations.
Based on recent SEC filings, A2Z's cash position fluctuated from $43.2M in 2025Q3 to $16.7M by 2026Q1, reflecting a rapid depletion of liquid assets that leaves the company with a narrowing buffer against its ongoing operational losses and high working capital requirements.
While the current ratio of 10.57 appears superficially strong, it is heavily influenced by the composition of current assets which may not be readily convertible to cash. The rapid decline in cash reserves suggests that the company may face a liquidity crunch in the near term without further dilutive financing.
According to historical balance sheet data, the company's equity structure has been heavily impacted by cumulative losses, with retained earnings falling to -$146.3M as of 2026Q1, suggesting that shareholders are bearing the brunt of the company's inability to achieve a sustainable path to profitability.
The reliance on equity-based financing to cover operational deficits appears to be a recurring theme, which may lead to significant shareholder dilution. Investors should monitor whether future capital raises are used for growth initiatives or simply to bridge the gap created by persistent negative margins.
As indicated by the provided balance sheet, A2Z maintains a relatively light PPE footprint of $3.6M, yet the company's total assets of $76.8M are heavily skewed by non-operating items, suggesting that the firm's asset base is not currently optimized for efficient hardware manufacturing or retail deployment.
The lack of significant investment in productive assets relative to the company's scale suggests that the business model remains in a high-risk, experimental phase. The minimal goodwill and intangible assets imply that the company's valuation is currently driven more by speculative growth potential than by tangible, income-generating assets.
Based on the provided figures, the company's working capital management appears increasingly strained, as evidenced by the $3.6M outflow in 2026Q1, which suggests that the firm's inventory and receivables management may be masking deeper operational inefficiencies that are not immediately apparent in the headline asset figures.
The disconnect between the company's reported asset growth and its negative cash flow suggests that capital is being trapped in inefficient cycles. This warrants further investigation into whether the company is accumulating obsolete inventory that may eventually require significant write-downs, further impacting the balance sheet.
Quick answers to the most common questions about buying AZ stock.
As of 2025, A2Z Cust2Mate Solutions Corp. (AZ) had total assets of $85.2M including $79.4M in current assets.
A2Z Cust2Mate Solutions Corp. (AZ) carries total debt of $2.6M, offset by $69.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
A2Z Cust2Mate Solutions Corp. (AZ) has total shareholders' equity (book value) of $78.0M ($2.07 book value per share). Book value represents the net worth of the company belonging to common stock holders.
A2Z Cust2Mate Solutions Corp. (AZ) reported a current ratio of 11.42x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.