The company's financial foundation is deteriorating, evidenced by a total debt of $12.9M against a cash position of only $4.7M as of 2025Q3.
| Total Current Assets | 7.26M | 8.73M | 4.67M | 26.12M | 62.56M |
| Cash & Short-Term Investments | - | - | - | - | - |
| Cash Only | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - |
| Inventory | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - |
| Other Current Assets | 680K | 1.35M | 1.93M | 0 | 0 |
| Total Non-Current Assets | 3.87M | 3.5M | 19.6M | 51.72M | 42.3M |
| Property, Plant & Equipment | 30K | 21K | 0 | 39.94M | 39.52M |
| Fixed Asset Turnover | 108.14x | 65.38x | - | 0.01x | 0.01x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 290.65M | 287.52M |
| Other Non-Current Assets | - | - | - | - | - |
| Total Assets | 11.13M | 12.23M | 24.27M | 77.84M | 104.86M |
| Asset Turnover | 0.32x | 0.11x | 0.14x | 0.00x | 0.00x |
| Asset Growth % | -41.18% | -49.62% | -68.81% | -25.77% | - |
| Total Current Liabilities | 10.59M | 6.84M | 27.29M | 5.54M | 8.03M |
| Accounts Payable | 2.28M | 413K | 1.79M | 969K | 1.26M |
| Days Payables Outstanding | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 17.74M | 88.85K | 2.85M |
| Deferred Revenue (Current) | 0 | - | - | - | - |
| Other Current Liabilities | 7.75M | 6.22M | 6.35M | -88.85K | 0 |
| Current Ratio | 0.69x | 1.28x | 0.17x | 4.72x | 7.79x |
| Quick Ratio | 0.69x | 1.28x | 0.17x | 4.72x | 7.79x |
| Cash Conversion Cycle | - | - | - | - | - |
| Total Non-Current Liabilities | 13.29M | 14M | 109.53M | 390.72M | 364.87M |
| Long-Term Debt | 12.91M | 13.19M | 13.34M | 29.75M | 0 |
| Capital Lease Obligations | 0 | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - |
| Total Liabilities | 23.88M | 20.84M | 136.81M | 396.26M | 372.9M |
| Total Debt | 12.91M | 13.19M | 33.53M | 54.73M | 29.1M |
| Net Debt | 8.17M | 9.67M | 32.63M | 31.79M | -27.94M |
| Debt / Equity | -1.01x | - | - | - | - |
| Debt / EBITDA | -0.65x | - | - | - | - |
| Net Debt / EBITDA | -0.41x | - | - | - | - |
| Interest Coverage | -14.88x | -42.48x | -15.48x | -58.04x | -4.85x |
| Total Equity | -12.75M | -8.61M | -112.54M | -318.42M | -268.04M |
| Equity Growth % | -66.62% | 92.35% | 64.66% | -18.8% | - |
| Book Value per Share | -4.61 | -10.91 | -241.87 | -177.21 | -149.17 |
| Total Shareholders' Equity | -12.75M | -8.61M | -112.54M | -318.42M | -268.04M |
| Common Stock | 0 | 4K | 0 | 1K | 1K |
| Retained Earnings | -479.82M | -461.8M | -396.41M | -338.69M | -286.99M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 26K | 19K | -14K | 7K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and solvency crisis
As reported in recent financial filings, BSLK's total assets have contracted from $24.3M in 2023Q4 to $11.1M by 2025Q3, reflecting a persistent deterioration in the company's financial foundation as it struggles to convert its proprietary bio-engineering technology into a sustainable, revenue-generating commercial operation.
The consistent decline in total assets alongside a deepening negative equity position suggests that the company is consuming its remaining resources to fund ongoing operating losses. This trajectory indicates that the business model has yet to achieve the necessary scale to stabilize its balance sheet, leaving it increasingly reliant on external capital.
Based on the provided balance sheet data, BSLK carries $12.9M in total debt as of 2025Q3, a figure that looms large against a cash position of only $4.7M, signaling significant refinancing risk and limited flexibility for the company to manage its obligations without further dilutive financing.
The presence of substantial debt on a balance sheet characterized by negative retained earnings of $479.8M suggests that the company's leverage is necessity-driven rather than strategic. Investors should monitor the maturity profile of these obligations, as the current cash burn rate may preclude the company from servicing this debt through organic cash flow.
According to recent quarterly reports, BSLK's current ratio has remained consistently low, hovering at 0.69 as of 2025Q3, which highlights a severe lack of liquidity and a limited buffer to absorb operational shocks or unexpected delays in its commercialization efforts for B-SILK.
A current ratio below 1.0 indicates that the company's short-term liabilities exceed its liquid assets, creating a structural vulnerability that necessitates constant capital infusions. This liquidity profile appears insufficient to support the company's high fixed-cost base, raising concerns about its ability to maintain operations as a going concern.
As evidenced by the company's financial statements, BSLK's equity has remained deeply negative, reaching -$12.7M in 2025Q3, which underscores the cumulative impact of years of operating losses and the failure of the business to generate positive returns on invested capital since its inception.
The persistent negative equity position suggests that the company has effectively exhausted its original capital base, with shareholders' claims now entirely eroded by accumulated deficits. This situation warrants further investigation into the company's ability to attract new equity investment without significantly diluting existing stakeholders.
Based on the reported figures, the near-total absence of net PPE, which stands at a nominal $30.0K as of 2025Q3, suggests that the company's balance sheet is devoid of tangible productive assets, potentially masking the risk of future impairment charges related to its specialized laboratory equipment.
The lack of meaningful tangible assets implies that the company's value is almost entirely tied to intangible IP, which may be subject to significant valuation volatility. Investors should be wary that the absence of physical collateral makes the company's debt profile even more precarious in the event of a liquidation scenario.
Quick answers to the most common questions about buying BSLK stock.
As of 2024, Bolt Projects Holdings, Inc. (BSLK) had total assets of $12.2M including $8.7M in current assets.
Bolt Projects Holdings, Inc. (BSLK) carries total debt of $13.2M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Bolt Projects Holdings, Inc. (BSLK) has total shareholders' equity (book value) of $-8.6M ($-10.91 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Bolt Projects Holdings, Inc. (BSLK) reported a current ratio of 1.28x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.