The company's financial position is increasingly vulnerable, as total equity has eroded from $18.4M in 2023Q4 to $7.3M in 2026Q1, while the debt-to-equity ratio stands at 0.65.
| Total Current Assets | 12.34M | 16.46M | 8.02M | 23.18M | 14.13M | 25.63M | 3.86M | 8.04M |
| Cash & Short-Term Investments | 5.39M | 9.27M | 3.45M | 21.72M | 12.96M | 24.78M | 3.32M | 7.41M |
| Cash Only | 5.39M | 9.27M | 3.45M | 21.72M | 12.96M | 24.78M | 3.32M | 6.42M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 998.83K |
| Accounts Receivable | 172.26K | 616.6K | 488.37K | 98.91K | 77.47K | 84.26K | 125.79K | 83.55K |
| Days Sales Outstanding | 62.02 | 98.14 | 109.42 | 33.68 | 23.44 | 26.07 | 44.24 | 32.83 |
| Inventory | 6.11M | 5.74M | 3.05M | 667.12K | 436.72K | 208.27K | 131.38K | 172.5K |
| Days Inventory Outstanding | 1.87K | 2.4K | 2.04K | 640.67 | 360.69 | 205.24 | 156.44 | 281.48 |
| Other Current Assets | 679.92K | 833.13K | 1.04M | 695.88K | 655.36K | 555.85K | 284.12K | 370.02K |
| Total Non-Current Assets | 4.15M | 4.27M | 4.42M | 4.58M | 2.76M | 2.95M | 3.74M | 4.61M |
| Property, Plant & Equipment | 3.1M | 3.19M | 3.4M | 3.49M | 1.8M | 2.26M | 2.89M | 3.86M |
| Fixed Asset Turnover | 0.75x | 0.72x | 0.48x | 0.31x | 0.67x | 0.52x | 0.36x | 0.24x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 124.25K | 134.91K | 65.92K | 0 | 3.29K | 25.09K | 65.07K | 160.59K |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | -20.38M | 0 | 0 |
| Other Non-Current Assets | 924.55K | 940.23K | 954.99K | 1.09M | 958.18K | 655.42K | 792.44K | 583.5K |
| Total Assets | 16.5M | 20.72M | 12.45M | 27.76M | 16.9M | 28.58M | 7.61M | 12.65M |
| Asset Turnover | 0.14x | 0.11x | 0.13x | 0.04x | 0.07x | 0.04x | 0.14x | 0.07x |
| Asset Growth % | 63.24% | 66.53% | -55.16% | 64.28% | -40.88% | 275.7% | -39.85% | - |
| Total Current Liabilities | 3.16M | 3.64M | 8.58M | 3.05M | 1.53M | 1.69M | 2.89M | 1.29M |
| Accounts Payable | 1.6M | 1.83M | 1.42M | 1.14M | 510.76K | 445.52K | 674.33K | 481.1K |
| Days Payables Outstanding | 726.04 | 765.7 | 950.54 | 1.09K | 421.84 | 439.05 | 802.95 | 785.06 |
| Short-Term Debt | 480.29K | 0 | 5.41M | 0 | 141.3K | 181.12K | 630.01K | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 324.12K | 923.55K | 88.58K | 1.15M | 416.73K | 54.98K | 32.9K | 0 |
| Current Ratio | 3.91x | 4.53x | 0.93x | 7.59x | 9.25x | 15.15x | 1.34x | 6.25x |
| Quick Ratio | 1.98x | 2.95x | 0.58x | 7.37x | 8.96x | 15.02x | 1.29x | 6.12x |
| Cash Conversion Cycle | 1.21K | 1.73K | 1.2K | -418.37 | -37.7 | -207.73 | -602.28 | -470.75 |
| Total Non-Current Liabilities | 6.05M | 11.22M | 1.56M | 6.35M | 125.24K | 552.21K | 1.19M | 56.73M |
| Long-Term Debt | 3.34M | 3.18M | 0 | 4.26M | 0 | 0 | 182.49K | 0 |
| Capital Lease Obligations | 4.36M | 1.03M | 1.52M | 2.04M | 28.58K | 402.42K | 809.09K | 1.24M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 20.38M | 0 | 0 |
| Other Non-Current Liabilities | 1.8M | 7.01M | 39.61K | 54.94K | 96.66K | 149.79K | 197.87K | 55.49M |
| Total Liabilities | 9.21M | 14.85M | 10.14M | 9.4M | 1.65M | 2.24M | 4.08M | 58.02M |
| Total Debt | 4.73M | 4.7M | 7.44M | 6.7M | 543.72K | 990.21K | 2.06M | 1.71M |
| Net Debt | -658.04K | -4.57M | 3.99M | -15.02M | -12.42M | -23.79M | -1.27M | -4.7M |
| Debt / Equity | 0.65x | 0.80x | 3.23x | 0.37x | 0.04x | 0.04x | 0.58x | - |
| Debt / EBITDA | -0.30x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.04x | - | - | - | - | - | - | - |
| Interest Coverage | -6.39x | -8.85x | -10.73x | -85.12x | -844.80x | -390.86x | -549.72x | -1129.06x |
| Total Equity | 7.29M | 5.87M | 2.3M | 18.35M | 15.24M | 26.33M | 3.53M | -45.37M |
| Equity Growth % | 309.51% | 154.7% | -87.44% | 20.4% | -42.11% | 646.39% | 107.78% | - |
| Book Value per Share | 1.87 | 2.97 | 2.07 | 23.86 | 25.83 | 44.62 | 6.00 | -77.15 |
| Total Shareholders' Equity | 7.29M | 5.87M | 2.3M | 18.35M | 15.24M | 26.33M | 3.53M | -45.37M |
| Common Stock | 60.51K | 59.72K | 23.47K | 21.77K | 11.99K | 11.92K | 1.11K | 1.06K |
| Retained Earnings | -144.98M | -145.83M | -127.2M | -108.38M | -94.13M | -82.74M | -75.2M | -68.29M |
| Treasury Stock | -60K | -60K | -60K | -60K | -60K | -60K | -60K | -60K |
| Accumulated OCI | 5.25M | 0 | 1.86M | 2.79M | 567.97K | 702.49K | 702.49K | 20 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Dilutive capital dependency
As reported in recent financial filings, Femasys has seen its total equity contract from $18.4M in 2023Q4 to $7.3M in 2026Q1, a trend that underscores the persistent erosion of shareholder value driven by ongoing operational losses and the absence of a self-sustaining revenue model.
The consistent decline in equity reflects the company's inability to generate positive net income, forcing a reliance on capital markets to bridge the funding gap. This trajectory suggests that without a successful commercial inflection point, the balance sheet will continue to weaken as retained earnings remain deeply negative.
Based on the most recent quarterly data, Femasys holds $5.4M in cash, a significant reduction from the $21.7M reported in 2023Q4, which indicates that the company's liquidity buffer is rapidly depleting as it funds its clinical development programs and specialized sales infrastructure.
The current ratio of 3.91 appears superficially healthy, yet it masks the underlying reality of a high cash burn rate relative to the company's limited liquid assets. Investors should monitor the pace of cash depletion, as the current trajectory suggests that additional financing may be required to maintain operations.
According to financial statements, Femasys maintains a debt-to-equity ratio of 0.65 as of 2026Q1, which, while appearing moderate, obscures the company's fundamental reliance on equity-based financing rather than debt to sustain its high-cost R&D and clinical trial activities.
The presence of debt on the balance sheet, despite the lack of positive operating cash flow, warrants further investigation into the cost and terms of these obligations. This leverage profile suggests that the company is utilizing debt as a stop-gap measure rather than a strategic tool for growth.
As indicated by the company's reported figures, the accumulated deficit of $145.0M as of 2026Q1 serves as a critical distortion, suggesting that the book value of equity may not accurately reflect the company's long-term viability or its ability to generate future returns for shareholders.
This massive deficit highlights the significant capital intensity required to reach the current stage of clinical development. It implies that the company's balance sheet is heavily weighted toward past expenditures that have yet to translate into a sustainable, profitable commercial operation.
Quick answers to the most common questions about buying FEMY stock.
As of 2025, Femasys Inc. (FEMY) had total assets of $20.7M including $16.5M in current assets.
Femasys Inc. (FEMY) carries total debt of $4.7M, offset by $9.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Femasys Inc. (FEMY) has total shareholders' equity (book value) of $5.9M ($2.97 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Femasys Inc. (FEMY) reported a current ratio of 4.53x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.