Total equity has eroded to $77.1M in 2025Q4 from $84.5M in 2023Q4, reflecting the ongoing consumption of capital to fund clinical development programs.
| Total Current Assets | 78.3M | 64.23M | 85.76M | 106.48M | 32.64M | 47.45M | 29.83M |
| Cash & Short-Term Investments | 76.9M | 59.6M | 81.79M | 104.53M | 31.32M | 46.02M | 28.13M |
| Cash Only | 15.98M | 13.72M | 12.66M | 5.84M | 23.24M | 15.6M | 1.83M |
| Short-Term Investments | 60.92M | 45.88M | 69.13M | 98.69M | 8.08M | 30.42M | 26.3M |
| Accounts Receivable | 36K | 332K | 19K | 32K | 480K | 477K | 141K |
| Days Sales Outstanding | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | -19K | 0 | -8.17M | 0 | 1.13M |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 3.25M | 3.5M | 1.13M | 8.79M | 576K | -187.3K |
| Total Non-Current Assets | 28.28M | 21.98M | 21.63M | 13.67M | 9.57M | 5.53M | 1.73M |
| Property, Plant & Equipment | 26.88M | 21.54M | 21.16M | 13.28M | 7.55M | 5.39M | 1.71M |
| Fixed Asset Turnover | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 479K | 432K | 471K | 391K | 2.03M | 139K | 16K |
| Total Assets | 106.58M | 86.2M | 107.39M | 120.15M | 42.22M | 52.99M | 31.56M |
| Asset Turnover | - | - | - | - | - | - | - |
| Asset Growth % | 23.64% | -19.73% | -10.62% | 184.61% | -20.33% | 67.92% | - |
| Total Current Liabilities | 10.51M | 8.68M | 7.1M | 4.34M | 4.41M | 2.09M | 1.35M |
| Accounts Payable | 3.87M | 3.53M | 2.57M | 1.42M | 1.2M | 964K | 893K |
| Days Payables Outstanding | 1.15K | 1.17K | 872.06 | 530.54 | 565.84 | 4.09K | - |
| Short-Term Debt | 0 | 1.01M | 1.06M | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 3.78M | 389K | -983K | 1.34M | 2.41M | 599K | 0 |
| Current Ratio | 7.45x | 7.40x | 12.07x | 24.55x | 7.41x | 22.73x | 22.11x |
| Quick Ratio | 7.45x | 7.40x | 12.08x | 24.55x | 9.26x | 22.73x | 21.27x |
| Cash Conversion Cycle | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 18.97M | 14.86M | 15.81M | 10.15M | 72.59M | 59.33M | 30.4M |
| Long-Term Debt | 6.35M | 5.56M | 5.61M | 0 | 53.96M | 53.96M | 0 |
| Capital Lease Obligations | 6.24M | 5.96M | 6.6M | 4.52M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 1.02M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 5.35M | 3.34M | 3.6M | 5.63M | 18.62M | 5.37M | 30.4M |
| Total Liabilities | 29.48M | 23.54M | 22.91M | 14.49M | 76.99M | 61.42M | 31.75M |
| Total Debt | 13.73M | 12.54M | 13.28M | 5.19M | 53.96M | 53.96M | 0 |
| Net Debt | -2.25M | -1.19M | 619K | -643K | 30.73M | 38.37M | -1.83M |
| Debt / Equity | 0.18x | 0.20x | 0.16x | 0.05x | - | - | - |
| Debt / EBITDA | - | - | 0.36x | - | - | - | - |
| Net Debt / EBITDA | - | - | 0.02x | - | - | - | - |
| Interest Coverage | -100.93x | -91.28x | -746.21x | -19.06x | -1.05x | -42.60x | - |
| Total Equity | 77.1M | 62.67M | 84.47M | 105.66M | -34.78M | -8.43M | -193K |
| Equity Growth % | 23.03% | -25.82% | -20.05% | 403.81% | -312.59% | -4267.36% | - |
| Book Value per Share | 0.96 | 0.90 | 1.22 | 1.66 | -0.86 | -0.21 | -0.00 |
| Total Shareholders' Equity | 77.1M | 62.67M | 84.47M | 105.66M | -34.78M | -8.43M | -193K |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 690 | 0 |
| Retained Earnings | -190.14M | -147.51M | -115.76M | -86.6M | -52.84M | -25.57M | -16.69M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | -60.02K | -21K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Clinical Trial Funding Runway
As reported in recent financial statements, Alpha Tau Medical's total equity has declined from $84.5M in 2023Q4 to $77.1M in 2025Q4, reflecting a persistent erosion of the balance sheet as the company funds its ongoing clinical development programs through accumulated losses.
The downward trend in equity, coupled with a widening deficit in retained earnings, suggests that the company is consuming its capital base to sustain operations. Investors should monitor whether this trajectory necessitates further dilutive financing to maintain the current pace of clinical trial activity.
Based on 2025Q4 reported figures, the company holds $16.0M in cash, which appears insufficient given the high quarterly cash burn rate observed in recent periods, indicating a precarious liquidity position that may limit the firm's ability to navigate unforeseen clinical or logistical delays.
While the current ratio of 7.45 remains mathematically high, it is heavily influenced by the lack of significant short-term liabilities rather than an abundance of liquid assets. This liquidity profile suggests that the company may face imminent pressure to secure additional funding to avoid operational disruption.
According to the latest balance sheet data, net PPE has increased to $26.9M in 2025Q4 from $21.2M in 2023Q4, highlighting the company's commitment to building out the specialized manufacturing and isotope production infrastructure required for its proprietary Alpha DaRT technology.
This asset-heavy approach is a necessary but costly component of the business model, as it requires significant upfront investment in nuclear-capable facilities. The concentration of assets in specialized equipment implies that the company's value is tied to the successful commercialization of its physical delivery systems.
As indicated by historical filings, the company's reliance on Israeli Innovation Authority grants may create future royalty obligations that are not fully captured in the headline debt figures, potentially acting as a form of off-balance-sheet leverage that could impact future margins upon commercialization.
These contingent liabilities warrant further investigation, as they represent a claim on future revenue that could complicate the company's long-term profitability profile. Furthermore, the unique inventory risk associated with the short half-life of radioactive seeds suggests that standard balance sheet metrics may understate the volatility of the firm's current assets.
Quick answers to the most common questions about buying DRTS stock.
As of 2025, Alpha Tau Medical Ltd. (DRTS) had total assets of $106.6M including $78.3M in current assets.
Alpha Tau Medical Ltd. (DRTS) carries total debt of $13.7M, offset by $76.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Alpha Tau Medical Ltd. (DRTS) has total shareholders' equity (book value) of $77.1M ($0.96 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Alpha Tau Medical Ltd. (DRTS) reported a current ratio of 7.45x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.