The company's financial stability is increasingly fragile, evidenced by a retained earnings deficit of $401.8 million and a reliance on speculative assets that have caused total assets to contract from $492.3 million to $217.8 million in just two quarters.
| Total Current Assets | 12.84M | 14.26M | 5.07M | 19.53M | 20.33M | 10.88M |
| Cash & Short-Term Investments | 5.7M | 11.12M | 2.19M | 7.98M | 10.99M | 5.57M |
| Cash Only | 5.7M | 9.07M | 2.19M | 7.98M | 10.99M | 5.57M |
| Short-Term Investments | 0 | 2.05M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 63.32K | 312.11K | 88.25K | 203.3K | 864.96K | 25.59K |
| Days Sales Outstanding | 423.23 | 116.84 | 7.98 | 22.76 | 69.44 | 20.81 |
| Inventory | 396.59K | 346.18K | 1.46M | 8.97M | 5.65M | 2.21M |
| Days Inventory Outstanding | 205.73 | 91.07 | 29.24 | 287.52 | 153.64 | 76.74 |
| Other Current Assets | 6.68M | 2.48M | 1.14M | 2.11M | 2.4M | 1.09M |
| Total Non-Current Assets | 204.98M | 358.5M | 1.16M | 2.59M | 2.4M | 3.74M |
| Property, Plant & Equipment | 954.64K | 1.01M | 945.37K | 2.39M | 2.11M | 2.99M |
| Fixed Asset Turnover | 0.42x | 0.96x | 4.27x | 1.36x | 2.16x | 0.15x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 36.91K | 15.7K | 0 | 5.81K | 18.05K |
| Long-Term Investments | 356.98M | 356.98M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 204.03M | 155.06K | 199.28K | 199.28K | 285.04K | 732.81K |
| Total Assets | 217.82M | 372.75M | 6.23M | 22.13M | 22.73M | 14.62M |
| Asset Turnover | 0.00x | 0.00x | 0.65x | 0.15x | 0.20x | 0.03x |
| Asset Growth % | 11621.97% | 5886.56% | -71.86% | -2.64% | 55.4% | - |
| Total Current Liabilities | 6.31M | 52.78M | 4.64M | 40.91M | 20.9M | 6.48M |
| Accounts Payable | 3.82M | 745.47K | 385.33K | 831.18K | 1.04M | 1.45M |
| Days Payables Outstanding | 679.45 | 196.11 | 7.74 | 26.63 | 28.21 | 50.51 |
| Short-Term Debt | 230.31K | 50.22M | 7.18K | 30.16M | 17.37M | 17.2K |
| Deferred Revenue (Current) | 33.17K | 0 | 216.52K | 417.49K | 23.47K | 2.28M |
| Other Current Liabilities | 2.26M | 1.82M | 2.2M | 5.97M | 0 | 0 |
| Current Ratio | 2.03x | 0.27x | 1.09x | 0.48x | 0.97x | 1.68x |
| Quick Ratio | 1.97x | 0.26x | 0.78x | 0.26x | 0.70x | 1.34x |
| Cash Conversion Cycle | -50.49 | 11.8 | 29.48 | 283.65 | 194.87 | 47.03 |
| Total Non-Current Liabilities | 45.42M | 50.75M | 1.55M | 844.31K | 1.19M | 1.84M |
| Long-Term Debt | 45.42M | 0 | 28.53K | 69.14K | 50.12K | 68.78K |
| Capital Lease Obligations | 1.05M | 471.68K | 331.22K | 775.17K | 1.14M | 1.77M |
| Deferred Tax Liabilities | 317.33K | 317.33K | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 49.97M | 1.19M | 0 | 0 | 0 |
| Total Liabilities | 51.74M | 103.54M | 6.19M | 41.76M | 22.09M | 8.32M |
| Total Debt | 45.65M | 50.69M | 810.89K | 31.41M | 18.96M | 2.31M |
| Net Debt | 39.95M | 41.62M | -1.38M | 23.43M | 7.97M | -3.26M |
| Debt / Equity | 0.27x | 0.19x | 19.89x | - | 29.85x | 0.37x |
| Debt / EBITDA | -1.37x | - | - | - | - | - |
| Net Debt / EBITDA | -1.20x | - | - | - | - | - |
| Interest Coverage | -7.91x | -13.68x | -69.70x | -8.07x | -14.15x | -438.79x |
| Total Equity | 166.08M | 269.21M | 40.76K | -19.63M | 635.01K | 6.3M |
| Equity Growth % | 669889.34% | 660370.1% | 100.21% | -3191.44% | -89.93% | - |
| Book Value per Share | 5.03 | 14.57 | 1.05 | -122693.88 | 39688.31 | 525354.08 |
| Total Shareholders' Equity | 166.08M | 269.21M | 40.76K | -19.63M | 635.01K | 6.3M |
| Common Stock | 535 | 0 | 7 | 0 | 0 | 128 |
| Retained Earnings | -401.77M | -316.37M | -166.32M | -120.81M | -75.73M | -41.5M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Capital exhaustion and insolvency
As reported in recent financial filings, Empery Digital's total assets have fluctuated significantly, peaking at $492.3 million in 2025Q3 before contracting to $217.8 million by 2026Q1, a trend that underscores the volatility inherent in the company's transition from powersports manufacturing to a speculative digital asset treasury strategy.
The rapid contraction in asset value suggests that the company's pivot has not yet stabilized its financial position or created a reliable foundation for growth. Investors should monitor whether the current asset base is primarily composed of liquid digital holdings or if it remains burdened by legacy manufacturing assets that are losing value.
Based on the company's reported figures, cash reserves have dwindled from a peak of $18.8 million in 2025Q3 to just $5.7 million in 2026Q1, indicating that the firm's current burn rate is rapidly consuming its available liquidity in the absence of meaningful operational cash inflows.
The current ratio of 2.03 in 2026Q1 may provide a false sense of security, as it likely masks the difficulty of liquidating non-cash assets to meet immediate obligations. Given the persistent operating losses, the company appears to be approaching a critical liquidity threshold that may necessitate further dilutive financing.
According to quarterly statements, retained earnings have plummeted to a deficit of $401.8 million as of 2026Q1, reflecting years of accumulated operational losses that have severely eroded the company's book value and left shareholders with a diminished claim on the firm's remaining net assets.
The persistent negative retained earnings suggest that the company has failed to achieve a sustainable return on invested capital throughout its history. This trend indicates that equity is being used primarily to fund ongoing operational deficits rather than to build long-term value for shareholders.
As indicated by the provided financial statements, the company's balance sheet is highly sensitive to digital asset price volatility, with the lack of meaningful tangible assets suggesting that the firm's valuation is increasingly decoupled from its original industrial manufacturing roots and tied to speculative crypto-market performance.
The absence of significant goodwill or intangible assets in recent periods may suggest that previous acquisitions have been fully impaired or written off, leaving the company with little operational leverage. This shift warrants further investigation into whether the current balance sheet can support the company's stated strategic objectives.
Quick answers to the most common questions about buying EMPD stock.
As of 2025, Empery Digital Inc. (EMPD) had total assets of $372.8M including $14.3M in current assets.
Empery Digital Inc. (EMPD) carries total debt of $50.7M, offset by $11.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Empery Digital Inc. (EMPD) has total shareholders' equity (book value) of $269.2M ($14.57 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Empery Digital Inc. (EMPD) reported a current ratio of 0.27x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.