The firm's financial stability is severely compromised, as indicated by a current ratio of 0.21 and a meager cash reserve of only $476,715.
| Metric | Dec'23 | Dec'22 | Dec'21 |
|---|
| Total Current Assets | 10.64M | 9.17M | 13.59M |
| Cash & Short-Term Investments | 476.71K | 196.63K | 239.34K |
| Cash Only | 476.71K | 196.63K | 239.34K |
| Short-Term Investments | 0 | 0 | 0 |
| Accounts Receivable | 4.25M | 1.73M | 7.65M |
| Days Sales Outstanding | 105.98 | 31.34 | 296.44 |
| Inventory | 4.75M | 5.71M | 2.46M |
| Days Inventory Outstanding | 140.13 | 149.94 | 85.16 |
| Other Current Assets | 0 | 0 | 0 |
| Total Non-Current Assets | 10.87M | 27.46M | 36.67M |
| Property, Plant & Equipment | 10.67M | 11.26M | 16.17M |
| Fixed Asset Turnover | 1.37x | 1.79x | 0.58x |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 93.83K | 6.04M | 4.25M |
| Long-Term Investments | 107.86K | 2.89M | 8.77M |
| Other Non-Current Assets | 0 | 4.31M | 5.54M |
| Total Assets | 21.52M | 36.62M | 50.26M |
| Asset Turnover | 0.68x | 0.55x | 0.19x |
| Asset Growth % | -41.25% | -27.13% | - |
| Total Current Liabilities | 51.33M | 27.7M | 54.19M |
| Accounts Payable | 6.22M | 7.18M | 8.25M |
| Days Payables Outstanding | 183.67 | 188.51 | 285.75 |
| Short-Term Debt | 17.09M | 13.86M | 250K |
| Deferred Revenue (Current) | 0 | 0 | 0 |
| Other Current Liabilities | 777.37K | 612.4K | 32.49M |
| Current Ratio | 0.21x | 0.33x | 0.25x |
| Quick Ratio | 0.11x | 0.12x | 0.21x |
| Cash Conversion Cycle | 62.44 | -7.22 | 95.85 |
| Total Non-Current Liabilities | 16.56M | 6.21M | 8.33M |
| Long-Term Debt | 4.86M | 4.74M | 1.97M |
| Capital Lease Obligations | 13.94K | 24.69K | 119.59K |
| Deferred Tax Liabilities | 0 | 1.3M | 0 |
| Other Non-Current Liabilities | 11.68M | 69.84K | 1.2M |
| Total Liabilities | 67.9M | 33.91M | 62.52M |
| Total Debt | 22.14M | 18.74M | 29.32M |
| Net Debt | 21.66M | 18.43M | 29.08M |
| Debt / Equity | - | 6.90x | - |
| Debt / EBITDA | - | 52.66x | - |
| Net Debt / EBITDA | - | 51.81x | - |
| Interest Coverage | -5.38x | -2.67x | -14.65x |
| Total Equity | -46.38M | 2.72M | -12.26M |
| Equity Growth % | -1807.36% | 122.15% | - |
| Book Value per Share | -2.51 | 0.10 | -0.40 |
| Total Shareholders' Equity | -44M | 2.78M | -12.27M |
| Common Stock | 2.9K | 1.61K | 6.21M |
| Retained Earnings | -136.79M | -62.35M | -56.49M |
| Treasury Stock | -978.92K | -410.45K | 836.92K |
| Accumulated OCI | 800.45K | 1.88M | 2.08M |
| Minority Interest | -2.38M | -60.58K | 3.61K |
Imminent liquidity crisis
According to recent financial disclosures, Captivision holds a meager $476,715 in cash reserves, which, when evaluated against a current ratio of 0.21, suggests the company lacks the necessary liquidity buffer to meet its short-term obligations without immediate and potentially dilutive external capital injections.
The current ratio of 0.21 is exceptionally low, indicating that current liabilities vastly outweigh the company's liquid assets. This imbalance suggests that the firm is operating in a state of extreme financial fragility, where any delay in project-based revenue collection could lead to a default on short-term commitments.
As reported in financial statements, the company's balance sheet trajectory appears increasingly precarious, driven by persistent operating losses that have eroded the capital base and left the firm with minimal financial flexibility to navigate the current downturn in the commercial real estate sector.
The lack of a robust asset base suggests that the company has not yet successfully transitioned from a capital-intensive development phase to a self-sustaining commercial entity. Investors should monitor whether the firm can stabilize its financial position, as the current trajectory indicates a high risk of further balance sheet degradation.
Based on the company's reported figures, the equity structure is heavily burdened by accumulated deficits, which suggests that the value attributable to shareholders has been significantly compromised by the firm's inability to achieve profitable operations since its public market entry.
The erosion of equity highlights the impact of sustained net losses on the company's book value. This trend may indicate that future financing efforts will likely involve significant dilution, as the firm lacks the retained earnings necessary to support its ongoing capital requirements.
Analysis of the company's financial disclosures suggests that the presence of significant warrant liabilities may be distorting the true state of the balance sheet, potentially masking the severity of the firm's underlying solvency issues and complicating the assessment of its long-term viability.
These non-operating liabilities create volatility in the net income and equity sections, which may mislead investors regarding the company's core operational health. It is essential to distinguish between these accounting-driven fluctuations and the actual cash-based operational challenges the firm faces in its daily manufacturing activities.
Quick answers to the most common questions about buying CAPTW stock.
As of 2023, Captivision Inc. Warrant (CAPTW) had total assets of $21.5M including $10.6M in current assets.
Captivision Inc. Warrant (CAPTW) carries total debt of $22.1M, offset by $0.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Captivision Inc. Warrant (CAPTW) has total shareholders' equity (book value) of $-44.0M ($-2.51 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Captivision Inc. Warrant (CAPTW) reported a current ratio of 0.21x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.