The company's capital base has deteriorated significantly, with total assets falling from $432.2 million in 2023Q4 to $149.0 million in 2026Q1, reflecting the high cost of clinical advancement.
Caribou Biosciences, Inc. (CRBU) balance sheet — 7-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 |
|---|
| Total Current Assets | 116.59M | 145.23M | 219.38M | 338.84M | 260.25M | 391.19M | 24.31M | 57.01M |
| Cash & Short-Term Investments | 112.31M | 139.34M | 209.54M | 328.83M | 247.66M | 375.83M | 15.95M | 49.47M |
| Cash Only | 26.19M | 12.36M | 16.29M | 51.16M | 58.34M | 240.42M | 15.95M | 41.07M |
| Short-Term Investments | 86.12M | 126.98M | 193.24M | 277.67M | 189.32M | 135.41M | 0 | 8.4M |
| Accounts Receivable | 1.94M | 2.98M | 3.25M | 3.86M | 4.66M | 8.12M | 5.16M | 3.98M |
| Days Sales Outstanding | 92.87 | 97.44 | 118.73 | 40.85 | 122.91 | 308.95 | 152.37 | 251.11 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 2.91M | 1.78M | 1.22M | 1.12M | 671K | 423K | 373K |
| Total Non-Current Assets | 26.18M | 30.14M | 93.94M | 93.37M | 113.52M | 51.16M | 11.74M | 4.92M |
| Property, Plant & Equipment | 22.53M | 24.43M | 39.29M | 40.45M | 34.91M | 4.89M | 3.5M | 4.33M |
| Fixed Asset Turnover | 0.43x | 0.46x | 0.25x | 0.85x | 0.40x | 1.96x | 3.53x | 1.34x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 6.2M | 3.55M | 49.13M | 51.33M | 77.07M | 45.3M | 7.63M | 0 |
| Other Non-Current Assets | 2.14M | 2.15M | 5.52M | 1.59M | 1.54M | 975K | 612K | 593K |
| Total Assets | 142.77M | 175.37M | 313.31M | 432.21M | 373.76M | 442.36M | 36.05M | 61.93M |
| Asset Turnover | 0.06x | 0.06x | 0.03x | 0.08x | 0.04x | 0.02x | 0.34x | 0.09x |
| Asset Growth % | -166.96% | -44.03% | -27.51% | 15.64% | -15.51% | 1127.2% | -41.8% | - |
| Total Current Liabilities | 17.97M | 25.41M | 30.65M | 28.3M | 28.13M | 25.83M | 12.39M | 10.08M |
| Accounts Payable | 3.08M | 5.78M | 2.48M | 3.12M | 1.15M | 3.99M | 2.6M | 2.54M |
| Days Payables Outstanding | 64.01 | 579.09 | 230.13 | 323.06 | 114.88 | 1.48K | 27.58 | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 259K | 654K | 532K |
| Deferred Revenue (Current) | 5.48M | 1.9M | 3.13M | 2.85M | 9.94M | 8.7M | 161K | 717K |
| Other Current Liabilities | 0 | 8.56M | 10.22M | 10.62M | 7.12M | 4.75M | 629K | 496K |
| Current Ratio | 6.49x | 5.71x | 7.16x | 11.97x | 9.25x | 15.15x | 1.96x | 5.66x |
| Quick Ratio | 6.49x | 5.71x | 7.16x | 11.97x | 9.25x | 15.15x | 1.96x | 5.66x |
| Cash Conversion Cycle | 28.86 | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 26.7M | 27.78M | 29.71M | 35.51M | 44.77M | 28.7M | 47.09M | 44.39M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 924K | 0 |
| Capital Lease Obligations | 99.74M | 26.03M | 25.06M | 25.91M | 26.78M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 4.81M | 4.26M | 548K | 557K | 381K | 476K | 155K | 650K |
| Other Non-Current Liabilities | 0 | -4.26M | 785K | 2.94M | 1.65M | 6.19M | 45.08M | 42.76M |
| Total Liabilities | 44.67M | 53.19M | 60.36M | 63.81M | 72.89M | 54.53M | 59.48M | 54.47M |
| Total Debt | 26.66M | 27.23M | 26.49M | 27.11M | 27.75M | 259K | 1.58M | 532K |
| Net Debt | 461K | 14.87M | 10.19M | -24.05M | -30.59M | -240.42M | -14.38M | -40.54M |
| Debt / Equity | 0.27x | 0.22x | 0.10x | 0.07x | 0.09x | 0.00x | - | 0.07x |
| Debt / EBITDA | -0.25x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -0.00x | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | -8324.25x | -1805.35x | -7741.00x |
| Total Equity | 98.1M | 122.17M | 252.95M | 368.4M | 300.87M | 387.82M | -23.44M | 7.46M |
| Equity Growth % | -195.24% | -51.7% | -31.34% | 22.44% | -22.42% | 1754.76% | -414.04% | - |
| Book Value per Share | 0.97 | 1.31 | 2.80 | 4.99 | 4.95 | 6.44 | -0.85 | 0.27 |
| Total Shareholders' Equity | 98.1M | 122.17M | 252.95M | 368.4M | 300.87M | 387.82M | -23.44M | 7.46M |
| Common Stock | 11K | 9K | 9K | 8K | 6K | 6K | 1K | 1K |
| Retained Earnings | -645.88M | -596.51M | -448.39M | -299.29M | -197.22M | -97.79M | -30.87M | 3.44M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -71K | 103K | 255K | 30K | -1.52M | -135K | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying CRBU stock.
As of 2025, Caribou Biosciences, Inc. (CRBU) had total assets of $175.4M including $145.2M in current assets.
Caribou Biosciences, Inc. (CRBU) carries total debt of $27.2M, offset by $139.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Caribou Biosciences, Inc. (CRBU) has total shareholders' equity (book value) of $122.2M ($1.31 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Caribou Biosciences, Inc. (CRBU) reported a current ratio of 5.71x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Imminent liquidity shortfall
Metrics are mathematically derived from official filings.
Rapid Erosion of Capital Base
As reported in financial statements, Caribou's total assets have declined from $432.2 million in 2023Q4 to $149.0 million by 2026Q1, signaling a rapid depletion of the balance sheet that reflects the company's ongoing struggle to sustain its clinical pipeline without a self-funding commercial revenue stream.
The consistent contraction in total assets and equity over the last ten quarters suggests that the firm is consuming its capital base at an unsustainable rate. Investors should monitor this trajectory closely, as the shrinking asset base limits the company's flexibility to pivot or weather potential clinical setbacks.
Critical Cash Runway Exhaustion Risk
Based on the most recent quarterly data, Caribou's cash position has plummeted to $12.1 million, a significant decline from the $51.2 million reported in 2023Q4, which indicates an extremely limited buffer against the company's ongoing operational burn and clinical development requirements.
While the current ratio remains elevated at 6.22, this metric is heavily influenced by the composition of current assets and does not accurately reflect the immediate cash-on-hand reality. The rapid depletion of liquid reserves suggests that the company may be forced into dilutive financing or strategic asset sales in the near term.
Accumulated Deficits Dilute Equity Quality
According to recent SEC filings, the company's retained earnings have deteriorated to a deficit of $621.6 million, a stark reflection of the persistent, high-cost research and development efforts required to advance the chRDNA platform through the early stages of clinical testing.
The widening deficit in retained earnings underscores the lack of profitability inherent in the current business model. This trend suggests that equity value is being eroded by continuous operational losses, placing increased pressure on the company to demonstrate clinical success to justify future capital raises.
Leverage Remains Modest Despite Constraints
As indicated by the reported figures, the debt-to-equity ratio has fluctuated between 0.07 and 0.26 over the last ten quarters, suggesting that while the company maintains a relatively low debt load, its ability to service even modest obligations is increasingly constrained by its dwindling cash reserves.
The company's reliance on debt appears minimal, yet the lack of operational cash flow makes even this small leverage profile a potential risk factor. Investors should consider whether the existing debt structure contains restrictive covenants that could be triggered if the cash position continues to deteriorate.