The company's financial position appears increasingly fragile, with total assets declining to $29.1 million and accumulated retained earnings reaching a deficit of $64.2 million as of 2025Q3.
| Metric | TTM | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Total Current Assets | 9.04M | 18.82M | 24.58M | 35.86M | 35.76M | 23.91M | 27.87M | 20.15M | 20.67M | 24.38M | 24.03M | 28.04M | 30.75M | 20.05M | 18.18M | 12.16M | 21.58M | 34.81M | 52.54M | 59.32M | 45.49M | 40.07M | 38.43M | 34.61M | 28.69M | 30M | 36.1M | 44.5M | 1.2M |
| Cash & Short-Term Investments | 1.26M | 4.14M | 10.45M | 15.67M | 21.3M | 13.99M | 12.47M | 4.59M | 7.43M | 11.11M | 5.25M | 2.57M | 12.37M | 6.7M | 7.74M | 7.41M | 5.59M | 7.05M | 13.76M | 21M | 12.87M | 11.56M | 13.28M | 10.24M | 3.83M | 13.2M | 32M | 44M | 1.2M |
| Cash Only | 1.26M | 4.14M | 10.45M | 15.67M | 21.3M | 13.99M | 12.47M | 4.59M | 7.43M | 11.11M | 5.25M | 2.57M | 11.86M | 6.7M | 7.74M | 7.41M | 5.59M | 7.05M | 13.76M | 21M | 12.87M | 11.56M | 13.28M | 10.24M | 3.83M | 13.2M | 32M | 44M | 1.2M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 505.07K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 707.43K | 1.09M | 630.09K | 2.47M | 1.91M | 670.72K | 1.96M | 3.38M | 2.79M | 2.23M | 4.46M | 10.24M | 8.14M | 6.08M | 3.8M | 1.1M | 5.97M | 9.84M | 14.71M | 11.53M | 7.02M | 3.71M | 2.21M | 2.82M | 1.49M | 1.3M | 600K | 200K | 0 |
| Days Sales Outstanding | 22.8 | 18.2 | 7.68 | 20.93 | 17.79 | 8.39 | 22.21 | 45.6 | 34.97 | 26.44 | 63.52 | 131.26 | 132.55 | 138.34 | 109.28 | 48.21 | 148.06 | 129.07 | 131.91 | 96.67 | 107.16 | 78.52 | 48.8 | 89.37 | 42.42 | 38.58 | 54.75 | 730 | - |
| Inventory | 5.95M | 7.51M | 7.48M | 11.02M | 11.45M | 7.44M | 11.91M | 11.21M | 9.77M | 10.12M | 13.4M | 13.07M | 8.44M | 6.85M | 6.31M | 3.47M | 8.29M | 16.19M | 22.7M | 25.61M | 24.7M | 24.07M | 22.37M | 21.34M | 23.07M | 14.8M | 3.1M | 300K | 0 |
| Days Inventory Outstanding | 176 | 163.45 | 108.23 | 176.13 | 200.83 | 128.15 | 250.52 | 264.45 | 174.8 | 179.75 | 271.62 | 326.86 | 309.4 | 384.01 | 477.01 | 364.72 | 541.14 | 776.64 | 767.54 | 646.42 | 1.05K | 1.34K | 1.24K | 1.52K | 1.6K | 947.72 | 419.07 | - | - |
| Other Current Assets | 1.13M | 6.08M | 5.66M | 5.51M | 144.63K | 913.2K | 820.06K | 303.69K | 0 | 750 | 0 | 1.2M | 1.21M | 0 | 0 | 129.42K | 1.23M | 980.67K | 583.32K | 600.66K | 455.77K | 235.18K | 250.6K | 0 | 301.27K | 700K | 400K | 0 | 0 |
| Total Non-Current Assets | 11.02M | 22.16M | 24.31M | 33.34M | 29.16M | 25M | 23.28M | 21.08M | 19.83M | 17.45M | 23.21M | 34.28M | 29.22M | 33.6M | 32.73M | 38.37M | 36.44M | 28.34M | 13.46M | 4.21M | 5.14M | 6.38M | 7.52M | 632.85K | 921.98K | 6.8M | 4.1M | 400K | 0 |
| Property, Plant & Equipment | 3.37M | 4.32M | 4.67M | 4.69M | 4.83M | 1.58M | 1.03M | 1.24M | 1.39M | 1.32M | 1.66M | 1.72M | 1.75M | 1.42M | 377.35K | 218.42K | 412.23K | 597.35K | 651.13K | 496.34K | 524.64K | 453.84K | 449.95K | 342.28K | 552.27K | 6.3M | 3.8M | 200K | 0 |
| Fixed Asset Turnover | 4.08x | 5.08x | 6.41x | 9.19x | 8.13x | 18.44x | 31.42x | 21.76x | 20.97x | 23.35x | 15.41x | 16.58x | 12.83x | 11.28x | 33.62x | 38.06x | 35.72x | 46.57x | 62.52x | 87.73x | 45.59x | 37.99x | 36.70x | 33.61x | 23.17x | 1.95x | 1.05x | 0.50x | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 383.41K | 370.19K | 305.7K | 265.73K | 209.66K | 170.15K | 97.37K | 8.6K | 8.81K | 5.56K | 172.9K | 325.87K | 346.73K | 248.81K | 252.54K | 260.55K | 279.31K | 358.33K | 288.17K | 298.52K | 348.44K | 274.89K | 272.29K | 290.57K | 369.71K | 500K | 300K | 100K | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.76M | 1.02M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 7.27M | 17.47M | 19.33M | 22.54M | 17.77M | 23.24M | 22.15M | 19.83M | 18.43M | 16.13M | 21.38M | 29.4M | 24.38M | 28.17M | 31.08M | 37.89M | 34.81M | 26.85M | 11.83M | 263.71K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100K | 0 |
| Total Assets | 29.11M | 40.98M | 48.88M | 69.21M | 64.92M | 48.9M | 51.15M | 41.23M | 40.51M | 41.83M | 47.24M | 62.32M | 59.97M | 53.65M | 50.91M | 50.53M | 58.03M | 63.15M | 66M | 63.54M | 50.64M | 46.45M | 45.95M | 35.24M | 29.61M | 36.8M | 40.2M | 44.9M | 1.2M |
| Asset Turnover | 0.49x | 0.54x | 0.61x | 0.62x | 0.60x | 0.60x | 0.63x | 0.66x | 0.72x | 0.74x | 0.54x | 0.46x | 0.37x | 0.30x | 0.25x | 0.16x | 0.25x | 0.44x | 0.62x | 0.69x | 0.47x | 0.37x | 0.36x | 0.33x | 0.43x | 0.33x | 0.10x | 0.00x | 0.08x |
| Asset Growth % | -115.74% | -16.17% | -29.37% | 6.6% | 32.75% | -4.38% | 24.05% | 1.79% | -3.17% | -11.44% | -24.2% | 3.92% | 11.79% | 5.38% | 0.75% | -12.92% | -8.11% | -4.32% | 3.88% | 25.48% | 9.02% | 1.08% | 30.38% | 19.03% | -19.54% | -8.46% | -10.47% | 3641.67% | - |
| Total Current Liabilities | 9.48M | 14.13M | 7.06M | 6.8M | 5.62M | 6.49M | 4.7M | 5.45M | 4.61M | 4.02M | 4.83M | 4.5M | 2.89M | 1.85M | 1.16M | 596.39K | 2.83M | 4.33M | 6.73M | 5.57M | 3.38M | 2.32M | 2.2M | 1.16M | 2.75M | 3.3M | 2.2M | 800K | 0 |
| Accounts Payable | 6.07M | 8.27M | 4.79M | 4.4M | 2.77M | 3.75M | 3.28M | 4.47M | 3.98M | 3.06M | 3.31M | 3.67M | 2.11M | 1.06M | 542.08K | 265.44K | 1.63M | 3.35M | 4.47M | 2.93M | 2.23M | 1.32M | 902.96K | 559.85K | 2M | 2.9M | 1.9M | 800K | 0 |
| Days Payables Outstanding | 211.49 | 180.15 | 69.29 | 70.32 | 48.66 | 64.53 | 68.98 | 105.37 | 71.15 | 54.39 | 67.15 | 91.76 | 77.42 | 59.48 | 41 | 27.9 | 106.45 | 160.71 | 151.13 | 74.01 | 94.92 | 73.13 | 50.04 | 39.77 | 138.49 | 185.7 | 256.85 | - | - |
| Short-Term Debt | 922.92K | 2.3M | 880.13K | 856.57K | 566.08K | 815.49K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 301.16K | 0 | 566.9K | 452.87K | 774.89K | 794.74K | 0 | 131.39K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 171.18K | 0 | 0 | 0 | 0 | 448.27K | 183.37K | 129.8K | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 2.31M | 2.65M | -434.17K | 99.58K | 872.65K | 415.58K | 1.35M | 197.23K | 130.68K | 183K | 0 | 0 | 0 | 0 | 0 | 0 | 881.24K | 721.76K | 1.52M | 1.59M | 590.63K | 0 | 723.47K | 202.01K | 753.06K | 400K | 300K | 0 | 0 |
| Current Ratio | 0.95x | 1.33x | 3.48x | 5.27x | 6.36x | 3.69x | 5.93x | 3.70x | 4.49x | 6.07x | 4.98x | 6.23x | 10.65x | 10.81x | 15.61x | 20.39x | 7.63x | 8.04x | 7.81x | 10.65x | 13.47x | 17.25x | 17.49x | 29.73x | 10.44x | 9.09x | 16.41x | 55.63x | - |
| Quick Ratio | 0.33x | 0.80x | 2.42x | 3.65x | 4.32x | 2.54x | 3.40x | 1.64x | 2.37x | 3.55x | 2.20x | 3.33x | 7.73x | 7.12x | 10.20x | 14.58x | 4.70x | 4.30x | 4.44x | 6.05x | 6.16x | 6.89x | 7.31x | 11.40x | 2.04x | 4.61x | 15.00x | 55.25x | - |
| Cash Conversion Cycle | -12.69 | 1.5 | 46.62 | 126.74 | 169.96 | 72 | 203.75 | 204.68 | 138.61 | 151.8 | 267.99 | 366.36 | 364.53 | 462.87 | 545.29 | 385.03 | 582.75 | 745 | 748.32 | 669.08 | 1.06K | 1.34K | 1.24K | 1.57K | 1.51K | 800.59 | 216.97 | - | - |
| Total Non-Current Liabilities | 534.92K | 1.2M | 2.05M | 2.85M | 3.61M | 982.95K | 729.58K | 925.12K | 1.03M | 1.08M | 1.18M | 395.44K | 408.13K | 741.64K | 937.41K | 1.06M | 3.15M | 911.61K | 4.47M | 2.93M | 2.23M | 1.77M | 1.09M | 689.65K | 2M | 2.9M | 1.9M | 100K | 0 |
| Long-Term Debt | 534.92K | 0 | 0 | 0 | 0 | 772K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 2.19M | 1.2M | 2.05M | 2.85M | 3.6M | 203K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 9.88K | 7.95K | 729.58K | 925.12K | 1.03M | 1.08M | 1.18M | 395.44K | 408.13K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100K | 0 |
| Total Liabilities | 10.02M | 15.33M | 9.11M | 9.65M | 9.23M | 7.47M | 5.43M | 6.37M | 5.64M | 5.1M | 6M | 4.9M | 3.3M | 2.6M | 2.1M | 1.66M | 5.98M | 5.24M | 6.73M | 5.57M | 3.38M | 2.32M | 2.2M | 1.16M | 2.75M | 3.3M | 2.2M | 900K | 0 |
| Total Debt | 1.46M | 4.41M | 2.93M | 3.7M | 4.17M | 2.41M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Debt | 200.74K | 269K | -7.52M | -11.96M | -17.14M | -11.58M | -12.47M | -4.59M | -7.43M | -11.11M | -5.25M | -2.57M | -11.86M | -6.7M | -7.74M | -7.41M | -5.59M | -7.05M | -13.76M | -21M | -12.87M | -11.56M | -13.28M | -10.24M | -3.83M | -13.2M | -32M | -44M | -1.2M |
| Debt / Equity | 0.08x | 0.17x | 0.07x | 0.06x | 0.07x | 0.06x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | -0.13x | - | - | 1.10x | 0.69x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -0.02x | - | - | -3.57x | -2.82x | - | -4.54x | - | - | - | - | - | -14.08x | -4.19x | -5.61x | - | - | -13.40x | -1.43x | -2.24x | -3.98x | -5.12x | -4.96x | -9.75x | - | - | - | - | - |
| Interest Coverage | -85.54x | -253.06x | - | - | 615.21x | -7144.49x | 1030.74x | -1124.85x | -2266.45x | -921.91x | -10037.98x | -750.37x | 185.77x | 1138.77x | 438.64x | - | - | - | - | - | - | - | - | 0.73x | - | - | - | - | - |
| Total Equity | 19.09M | 25.65M | 39.77M | 59.56M | 55.69M | 41.44M | 45.72M | 34.86M | 34.87M | 36.73M | 41.24M | 57.43M | 56.68M | 51.05M | 48.81M | 48.88M | 52.05M | 57.91M | 59.28M | 57.97M | 47.26M | 44.12M | 43.75M | 34.08M | 26.86M | 33.5M | 38M | 44M | 1.2M |
| Equity Growth % | -149.56% | -35.51% | -33.22% | 6.95% | 34.4% | -9.37% | 31.16% | -0.03% | -5.08% | -10.92% | -28.19% | 1.32% | 11.02% | 4.6% | -0.14% | -6.09% | -10.13% | -2.3% | 2.26% | 22.66% | 7.1% | 0.85% | 28.39% | 26.87% | -19.82% | -11.84% | -13.64% | 3566.67% | - |
| Book Value per Share | 6.12 | 8.45 | 13.09 | 19.02 | 18.42 | 14.47 | 20.68 | 16.36 | 16.66 | 18.00 | 20.32 | 28.85 | 2.84 | 2.59 | 2.51 | 2.61 | 2.85 | 3.21 | 3.18 | 3.06 | 2.62 | 2.48 | 2.44 | 2.07 | 2.86 | 3.63 | 4.16 | 11.78 | 0.21 |
| Total Shareholders' Equity | 19.09M | 25.65M | 39.77M | 59.56M | 55.69M | 41.44M | 45.72M | 34.86M | 34.87M | 36.73M | 41.24M | 57.43M | 56.68M | 51.05M | 48.81M | 48.88M | 52.05M | 57.91M | 59.28M | 57.97M | 47.26M | 44.12M | 43.75M | 34.08M | 26.86M | 33.5M | 38M | 44M | 1.2M |
| Common Stock | 67.23M | 67.23M | 57.24M | 57.24M | 56.06M | 54.34M | 54.34M | 54.24M | 54.24M | 54.24M | 54.24M | 53.95M | 53.32M | 52.83M | 53.11M | 52.91M | 52.91M | 52.91M | 52.49M | 57.79M | 56.5M | 54.33M | 54.97M | 55.18M | 49.23M | 48.8M | 0 | 0 | 0 |
| Retained Earnings | -64.19M | -57.55M | -43.18M | -23.6M | -25.98M | -38.79M | -33.11M | -34.11M | -33.66M | -31.43M | -25.29M | -6.46M | -5.1M | -9.55M | -11.12M | -10.44M | -7.04M | -892.69K | 975.18K | -5.13M | -11M | -12.62M | -13.66M | -23.07M | -24.29M | -17.2M | -12.1M | -5.3M | -400K |
| Treasury Stock | 0 | -489.98K | -489.98K | -38.16K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -3.45M | -3.02M | 0 | 0 | -2.47M | -1.88M | -1.35M | -1.56M | -1.47M | -1.2M | 881 | -457 | -2.85K | -770.55K | -721.71K | -581.32K | -473.16K | -390.87K | -900K | -200K | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and existential obsolescence
As reported in recent SEC filings, CTHR's total assets have plummeted from $66.9 million in 2023Q2 to $29.1 million by 2025Q3, reflecting a consistent and aggressive contraction of the company's balance sheet that mirrors its ongoing struggle to maintain market relevance in the synthetic gemstone sector.
The steady decline in total assets suggests that the company is consuming its capital base to fund persistent operating losses rather than reinvesting for growth. This trajectory implies that the firm's ability to support its current operational footprint is diminishing, warranting significant concern regarding its long-term viability.
Based on the company's latest quarterly data, cash reserves have dwindled to just $1.3 million as of 2025Q3, down from $12.0 million in 2023Q2, which indicates a rapidly narrowing liquidity buffer that leaves the firm with minimal protection against further operational shocks or unforeseen market volatility.
The current ratio has compressed to 0.95, signaling that current liabilities now exceed current assets, which may indicate an inability to meet short-term obligations without external financing. Investors should monitor this trend closely, as the current cash burn rate suggests the company may soon face a liquidity crisis.
According to financial statements, retained earnings have deteriorated to a staggering -$64.2 million as of 2025Q3, a trend that highlights the persistent destruction of shareholder value and the erosion of equity quality resulting from years of sustained operating losses and ineffective capital allocation strategies.
The consistent growth of the accumulated deficit suggests that the company has failed to achieve a profitable business model, effectively consuming its equity base. This pattern implies that future growth initiatives may require dilutive equity raises, further pressuring the value of existing shareholder stakes.
As indicated by the company's balance sheet, the reliance on inventory in a market where lab-grown diamond prices are falling suggests that the carrying value of assets may be overstated, potentially necessitating future non-cash write-downs that would further impair the company's already fragile financial position.
The lack of deferred revenue in recent periods, compared to historical levels, may indicate a decline in forward-looking customer commitments or a shift in sales recognition patterns. This distortion warrants investigation, as it may mask the true extent of the company's declining demand and inventory turnover challenges.
Quick answers to the most common questions about buying CTHR stock.
As of 2024, Charles & Colvard, Ltd. (CTHR) had total assets of $41.0M including $18.8M in current assets.
Charles & Colvard, Ltd. (CTHR) carries total debt of $4.4M, offset by $4.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Charles & Colvard, Ltd. (CTHR) has total shareholders' equity (book value) of $25.6M ($8.45 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Charles & Colvard, Ltd. (CTHR) reported a current ratio of 1.33x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.