The company's financial position is increasingly vulnerable, evidenced by a negative equity base of $12.3 million and a precarious current ratio of 0.07 as of 2026Q1.
| Total Current Assets | 1.2M | 4.34M | 1.48M | 1.14M | 4.2M | 2.37M |
| Cash & Short-Term Investments | 201.13K | 3.45M | 23.13K | 654.37K | 2.04M | 1.78M |
| Cash Only | 201.13K | 3.45M | 23.13K | 10.95K | 2.04M | 1.78M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 310.18K | 7.36K | 427.46K | 65.98K | 24.35K | 0 |
| Days Sales Outstanding | 9.53K | 104.15 | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | 251.33K | 534.61K | 428.11K | 0 | 1.7M | 0 |
| Total Non-Current Assets | 4.59M | 7.53M | 2.2M | 3.77K | 4.84K | 299.45M |
| Property, Plant & Equipment | 0 | 0 | 321 | 3.77K | 4.84K | 0 |
| Fixed Asset Turnover | 207.52x | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 2.74M | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 3.14M | 707.99K | 1.55M | 83.36M | 237.04M | 299M |
| Other Non-Current Assets | 1.26M | 6.83M | 659.04K | -83.36M | -237.04M | 454.59K |
| Total Assets | 5.79M | 11.87M | 3.69M | 127.58K | 320.9M | 301.82M |
| Asset Turnover | 0.00x | 0.00x | - | - | - | - |
| Asset Growth % | 2177.99% | 221.88% | 2790.96% | -99.96% | 6.32% | - |
| Total Current Liabilities | 18.09M | 18.75M | 30.55M | 1.21M | 318.55K | 1.05M |
| Accounts Payable | 1.69M | 1.91M | 1.64M | 654.79K | 171.3K | 0 |
| Days Payables Outstanding | 92.66K | 68.38K | - | - | - | - |
| Short-Term Debt | 5.59M | 375.03K | 5.37M | 584.63K | 3.22M | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 2.8M | 9.41M | 11.83M | -584.63K | -3.1M | 1.05M |
| Current Ratio | 0.07x | 0.23x | 0.05x | 0.94x | 13.19x | 2.24x |
| Quick Ratio | 0.07x | 0.23x | 0.05x | 0.94x | 13.19x | 2.24x |
| Cash Conversion Cycle | -83.13K | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 12.71M | 0 | 800.6K | 13.35M | 26.07M |
| Long-Term Debt | 0 | 12.71M | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 800.6K | 13.35M | 26.07M |
| Total Liabilities | 18.09M | 31.46M | 30.55M | 70.31M | 4.39M | 27.12M |
| Total Debt | 5.59M | 13.09M | 5.37M | 584.63K | 3.22M | 0 |
| Net Debt | 5.38M | 9.64M | 5.35M | 426.8K | 1.19M | -1.78M |
| Debt / Equity | -0.45x | - | - | 0.05x | 3.21x | - |
| Debt / EBITDA | -0.35x | - | - | - | - | - |
| Net Debt / EBITDA | -0.34x | - | - | - | - | -0.36x |
| Interest Coverage | -5.31x | -17.28x | -118.72x | - | - | - |
| Total Equity | -12.3M | -19.59M | -26.86M | 12.95M | 1.01M | 274.7M |
| Equity Growth % | -767.14% | 27.05% | -307.46% | 1187.88% | -99.63% | - |
| Book Value per Share | -1.27 | -7.77 | -7.85 | 4.26 | 0.36 | 98.58 |
| Total Shareholders' Equity | -12.3M | -19.59M | -26.86M | 12.95M | 227.07M | 274.7M |
| Common Stock | 0 | 0 | 0 | 25.18M | 237.02M | 298.99M |
| Retained Earnings | -43.93M | -33.79M | -42.12M | -12.23M | -9.96M | -24.3M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 44.85K | 45K | 62.97K | -83.57K | 2.11M | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Capital exhaustion and insolvency
According to reported financial statements, DevvStream's equity position has remained consistently negative, deteriorating to -$12.3 million in 2026Q1, which reflects a structural inability to generate sufficient retained earnings to offset the ongoing accumulation of corporate losses and administrative overhead required to maintain public listing status.
The persistent negative equity suggests that the company is effectively operating on borrowed capital and external financing rather than internally generated value. This trajectory indicates that the business model has yet to achieve the scale necessary to stabilize its balance sheet, leaving it highly susceptible to further dilution or liquidity crises.
As indicated by the most recent quarterly data, the company's current ratio has plummeted to a precarious 0.07, with cash reserves of only $201.1K, suggesting an extremely limited buffer to meet short-term obligations or fund the capital-intensive development of new carbon sequestration projects.
The current ratio, which has remained well below 1.0 for the majority of the last ten quarters, implies that the company lacks the liquid assets necessary to cover its current liabilities. Investors should monitor this closely, as such a thin liquidity cushion often necessitates emergency financing or further equity issuance to avoid insolvency.
Based on financial filings, the company's total debt has fluctuated significantly, reaching $5.6 million in 2026Q1, which creates a challenging interest and repayment burden for a firm that has yet to demonstrate a consistent or meaningful revenue stream from its carbon credit operations.
The reliance on debt to fund operations in the absence of positive cash flow suggests that the company is leveraging its future potential rather than its current performance. This strategy appears high-risk, as the debt service requirements may further constrain the capital available for project deployment, potentially creating a cycle of underinvestment.
As reported in recent balance sheets, the emergence of $2.7 million in goodwill as of 2026Q1 warrants careful scrutiny, as it may represent intangible assets that are highly sensitive to the success of the company's blockchain-based carbon verification platform and overall market adoption.
The presence of goodwill on a balance sheet characterized by negative equity and minimal cash suggests that the company's asset valuation is heavily dependent on subjective projections of future growth. If the underlying carbon projects fail to meet performance expectations, this goodwill could be subject to significant impairment charges, further eroding the company's already strained financial position.
Quick answers to the most common questions about buying DEVS stock.
As of 2025, DevvStream Corp. Common Stock (DEVS) had total assets of $11.9M including $4.3M in current assets.
DevvStream Corp. Common Stock (DEVS) carries total debt of $13.1M, offset by $3.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
DevvStream Corp. Common Stock (DEVS) has total shareholders' equity (book value) of $-19.6M ($-7.77 book value per share). Book value represents the net worth of the company belonging to common stock holders.
DevvStream Corp. Common Stock (DEVS) reported a current ratio of 0.23x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.