The balance sheet appears vulnerable with a current ratio of 0.43 and a heavy reliance on $12.2M of goodwill, which constitutes the majority of the firm's $16.3M total asset base.
| Total Current Assets | 3.6M | 1.64M | 1.23M | 1.9M | 275.64K | 1.25M |
| Cash & Short-Term Investments | 1.8M | 172.12K | 149.27K | 1.69M | 212.61K | 861.47K |
| Cash Only | 1.8M | 172.12K | 149.27K | 1.69M | 212.61K | 861.47K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 130.41K | 250.12K | 33.89K | 10K | 1.5K | 55K |
| Days Sales Outstanding | 108.6 | 331.83 | 123.95 | 103.66 | 35 | 2.71K |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | 1.67M | 1.21M | 108.44K | 71.3K | 0 | -55K |
| Total Non-Current Assets | 12.71M | 13.67M | 16.92M | 20.11M | 313.91M | 309.45M |
| Property, Plant & Equipment | 561.64K | 616.58K | 799.94K | 802.56K | 0 | 0 |
| Fixed Asset Turnover | 0.63x | 0.45x | 0.12x | 0.04x | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 12.15M | 13.05M | 16.12M | 17.88M | 600.32K | 677.25K |
| Long-Term Investments | 0 | 0 | 0 | 0 | 313.91M | 309.45M |
| Other Non-Current Assets | 0 | 0 | 0 | 1.43M | -600.32K | -677.25K |
| Total Assets | 16.31M | 15.3M | 18.15M | 22.01M | 314.19M | 310.7M |
| Asset Turnover | 0.02x | 0.02x | 0.01x | 0.00x | 0.00x | 0.00x |
| Asset Growth % | -123.53% | -15.68% | -17.53% | -93% | 1.12% | - |
| Total Current Liabilities | 8.31M | 10.81M | 14.25M | 3.15M | 5.44M | 1.02M |
| Accounts Payable | 3.36M | 5.04M | 6M | 1.28M | 0 | 0 |
| Days Payables Outstanding | 385.21 | 232.41 | - | - | - | - |
| Short-Term Debt | 1.08M | 2.1M | 2.8M | 223.3K | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 2.29K | 0 | 0 |
| Other Current Liabilities | 3.87M | 3.67M | 3.56M | 490.61K | 5.44M | 1.02M |
| Current Ratio | 0.43x | 0.15x | 0.09x | 0.60x | 0.05x | 1.22x |
| Quick Ratio | 0.43x | 0.15x | 0.09x | 0.60x | 0.05x | 1.22x |
| Cash Conversion Cycle | -276.62 | - | - | - | - | - |
| Total Non-Current Liabilities | 716.6K | 1.03M | 1.25M | 1.17M | 11M | 19.13M |
| Long-Term Debt | 289.14K | 309.75K | 0 | 1.17M | 0 | 0 |
| Capital Lease Obligations | 366.25K | 0 | 335.77K | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 427.46K | 721.76K | 919.05K | 0 | 11M | 19.13M |
| Total Liabilities | 9.03M | 11.84M | 15.51M | 4.31M | 16.44M | 20.15M |
| Total Debt | 1.37M | 2.41M | 3.3M | 1.39M | 0 | 0 |
| Net Debt | -433.35K | 2.24M | 3.16M | -293.04K | -212.61K | -861.47K |
| Debt / Equity | 0.19x | 0.70x | 1.25x | 0.08x | - | - |
| Debt / EBITDA | -0.21x | - | - | - | - | - |
| Net Debt / EBITDA | 0.07x | - | - | - | - | - |
| Interest Coverage | -23.83x | -30.76x | -165.13x | -206.58x | - | - |
| Total Equity | 7.28M | 3.46M | 2.64M | 17.69M | 297.75M | 290.55M |
| Equity Growth % | -2.1% | 30.87% | -85.05% | -94.06% | 2.48% | - |
| Book Value per Share | 1.66 | 0.79 | 0.80 | 5.23 | 76.98 | 86.18 |
| Total Shareholders' Equity | 7.28M | 3.46M | 2.64M | 17.69M | 297.75M | 290.55M |
| Common Stock | 649 | 578 | 3.96K | 2.33K | 313.91M | 309.45M |
| Retained Earnings | -58.7M | -55.64M | -47.02M | -13.3M | -16.16M | -18.91M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and solvency
As reported in recent financial filings, BNAI's balance sheet has undergone significant contraction, with total assets falling from $36.9M in 2024Q1 to $16.3M in 2026Q1, signaling a rapid erosion of the company's resource base during its critical pre-commercial phase.
The consistent decline in total assets, coupled with a persistent accumulation of retained earnings losses reaching -$58.7M, suggests that the company is consuming its capital base to fund operations rather than building long-term value. This trajectory indicates that the business model has yet to achieve the scale necessary to stabilize its financial foundation.
Based on the provided balance sheet data, BNAI's liquidity position is precarious, with cash reserves fluctuating to as low as $20.4K in 2025Q2 and a current ratio of 0.43 as of 2026Q1, indicating an inability to cover short-term obligations with current assets.
The extremely low current ratio suggests that the company is heavily reliant on external financing or rapid capital raises to maintain basic operations. Investors should monitor the company's ability to secure additional funding, as the current liquidity buffer appears insufficient to support the high-compute costs inherent in its AI infrastructure.
According to historical balance sheet records, goodwill accounts for a substantial portion of BNAI's total assets, representing $12.2M of the $16.3M total asset base in 2026Q1, which raises concerns regarding the tangible value supporting the company's valuation.
The high concentration of intangible assets relative to total assets suggests that the company's book value is heavily dependent on accounting estimates rather than productive, revenue-generating physical assets. This composition warrants further investigation into potential impairment risks, especially given the company's ongoing struggle to achieve commercial traction.
As reported in financial statements, BNAI maintains a debt load of $1.4M as of 2026Q1, which, while modest in absolute terms, represents a significant burden for a company with negligible revenue and a history of consistent net losses.
The presence of debt on a balance sheet that is otherwise characterized by rapid cash depletion suggests that the company has been forced to utilize credit facilities to bridge operational gaps. This leverage, though not excessive by traditional metrics, increases the risk profile for equity holders in the event of a liquidity crunch.
Quick answers to the most common questions about buying BNAI stock.
As of 2025, Brand Engagement Network, Inc. (BNAI) had total assets of $15.3M including $1.6M in current assets.
Brand Engagement Network, Inc. (BNAI) carries total debt of $2.4M, offset by $0.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Brand Engagement Network, Inc. (BNAI) has total shareholders' equity (book value) of $3.5M ($0.79 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Brand Engagement Network, Inc. (BNAI) reported a current ratio of 0.15x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.