The company maintains a lean asset profile with net PPE of only $305K as of 2025Q4, though the accumulated deficit of -$51.3M highlights significant long-term structural risk.
| Total Current Assets | 9.82M | 535K | 4.83M | 10.36M | 14.35M | 2.89M |
| Cash & Short-Term Investments | 8.45M | 52K | 4.04M | 9.41M | 13.65M | 2.84M |
| Cash Only | 8.45M | 52K | 4.04M | 9.41M | 13.65M | 2.84M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 874K | 196K | 351K | 301K | 294K | 23K |
| Days Sales Outstanding | 62.97 | 52.45 | 211.06 | 224.67 | 254.89 | 92.25 |
| Inventory | 304K | 249K | 315K | 291K | 0 | 0 |
| Days Inventory Outstanding | 31.02 | 91.8 | 158.59 | 137.23 | - | - |
| Other Current Assets | 186K | 38K | 122K | 355K | 413K | 28K |
| Total Non-Current Assets | 305K | 80K | 125K | 1.97M | 356K | 53K |
| Property, Plant & Equipment | 305K | 80K | 125K | 291K | 356K | 53K |
| Fixed Asset Turnover | 16.61x | 17.05x | 4.86x | 1.68x | 1.18x | 1.72x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 1.67M | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 10.12M | 615K | 4.95M | 12.33M | 14.71M | 2.94M |
| Asset Turnover | 0.50x | 2.22x | 0.12x | 0.04x | 0.03x | 0.03x |
| Asset Growth % | 1545.85% | -87.59% | -59.81% | -16.21% | 400.34% | - |
| Total Current Liabilities | 1.21M | 1.12M | 272K | 179K | 2.3M | 2.38M |
| Accounts Payable | 531K | 629K | 27K | 146K | 396K | 102K |
| Days Payables Outstanding | 54.18 | 231.9 | 13.59 | 68.85 | 154.26 | 510 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 1.56M | 1.76M |
| Deferred Revenue (Current) | 590K | 489K | 197K | 53K | 52K | 11K |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 292K | 504K |
| Current Ratio | 8.10x | 0.48x | 17.76x | 57.88x | 6.24x | 1.21x |
| Quick Ratio | 7.85x | 0.26x | 16.60x | 56.26x | 6.24x | 1.21x |
| Cash Conversion Cycle | 39.81 | -87.65 | 356.06 | 293.05 | - | - |
| Total Non-Current Liabilities | 0 | 1K | 1K | -1K | 0 | 837K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 154K |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 1K | 1K | -1K | 0 | 683K |
| Total Liabilities | 1.21M | 1.12M | 273K | 178K | 2.3M | 3.22M |
| Total Debt | 0 | 0 | 0 | 0 | 1.56M | 1.92M |
| Net Debt | -8.45M | -52K | -4.04M | -9.41M | -12.09M | -919K |
| Debt / Equity | - | - | - | - | 0.13x | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - |
| Interest Coverage | - | - | - | -1161.60x | -149.35x | -1.77x |
| Total Equity | 8.91M | -504K | 4.68M | 12.15M | 12.41M | -277K |
| Equity Growth % | 1867.86% | -110.77% | -61.47% | -2.12% | 4580.51% | - |
| Book Value per Share | 0.47 | -0.03 | 0.32 | 0.83 | 0.85 | -0.02 |
| Total Shareholders' Equity | 8.91M | -504K | 4.68M | 12.15M | 12.41M | -277K |
| Common Stock | 2K | 1K | 8K | 9K | 71K | 13K |
| Retained Earnings | -51.28M | -40.86M | -34.32M | -25.31M | -13.69M | -4.37M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -2K | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Persistent capital depletion risk
As reported in recent financial filings, Cloudastructure's equity base has fluctuated significantly, dropping from $4.7M in 2023Q4 to a low of -$504K in 2024Q4 before recovering to $8.9M in 2025Q4, a trend that underscores the company's heavy reliance on external financing to offset persistent operational losses.
The volatility in equity suggests that the company's growth trajectory is fundamentally dependent on periodic capital injections rather than organic value creation. Investors should monitor whether the recent increase in equity is sufficient to sustain operations given the ongoing negative retained earnings of $51.3M.
Based on the company's reported figures, the current ratio of 8.10 in 2025Q4 appears robust, yet this metric is heavily skewed by the $8.5M cash position which, when contrasted against the high quarterly burn rate, suggests a limited runway for continued aggressive expansion without further dilution.
While the high current ratio provides a temporary cushion, it does not reflect the underlying cash-burning nature of the business model. The rapid fluctuation in liquidity metrics over the past ten quarters indicates that the company's ability to meet short-term obligations remains tethered to its success in securing external funding.
According to the balance sheet data, Cloudastructure maintains a lean asset profile with net PPE of only $305K as of 2025Q4, indicating an asset-light model that relies heavily on third-party infrastructure rather than proprietary physical hardware ownership to deliver its surveillance and analytics services.
The minimal investment in PPE suggests that the company's competitive advantage is intended to be software-driven, yet the lack of significant tangible assets leaves little collateral value should the business model fail to achieve scale. This asset composition reinforces the view that the company's value is entirely dependent on its ability to monetize its cloud-native software platform.
As indicated by the reported financial statements, the company's retained earnings have deteriorated to -$51.3M by 2025Q4, a figure that highlights the substantial cumulative cost of scaling the business and raises questions regarding the long-term viability of the current high-growth, high-burn operational strategy.
This massive accumulated deficit serves as a critical warning that the company has yet to prove its unit economics are sustainable. Investors should be wary that the current balance sheet strength is a function of capital raises rather than operational profitability, which may necessitate further dilutive events.
Quick answers to the most common questions about buying CSAI stock.
As of 2025, Cloudastructure Inc. (CSAI) had total assets of $10.1M including $9.8M in current assets.
Cloudastructure Inc. (CSAI) carries total debt of $0.0M, offset by $8.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Cloudastructure Inc. (CSAI) has total shareholders' equity (book value) of $8.9M ($0.47 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Cloudastructure Inc. (CSAI) reported a current ratio of 8.10x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.