The company's financial stability is increasingly compromised by a debt load of $53.9 million, resulting in a debt-to-equity ratio of 0.76 as of 2025Q4.
| Total Current Assets | 8.72M | 19.76M | 21.36M | 31.16M | 47.94M | 17.63M | 461K |
| Cash & Short-Term Investments | 5.6M | 6.02M | 4.35M | 8.94M | 37.61M | 15.52M | 140K |
| Cash Only | 5.6M | 6.02M | 4.35M | 8.94M | 37.61M | 15.52M | 140K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 799K | 7.3M | 7.1M | 8.96M | 5.6M | 1.22M | 0 |
| Days Sales Outstanding | 20.11 | 44.79 | 34.08 | 97.9 | 227.5 | 4.21K | - |
| Inventory | 1.9M | 5.77M | 8.51M | 8.75M | 3.03M | 540K | 0 |
| Days Inventory Outstanding | 84.3 | 44.81 | 53.24 | 158.44 | 168.72 | 5.63K | - |
| Other Current Assets | 424K | 673K | 1.37M | 4.51M | 2K | 0 | 111K |
| Total Non-Current Assets | 121.52M | 6.46M | 2.26M | 49.83M | 37.54M | 1.82M | 712K |
| Property, Plant & Equipment | 514K | 1.61M | 1.24M | 3.34M | 4.98M | 729K | 435K |
| Fixed Asset Turnover | 28.21x | 36.98x | 61.55x | 10.01x | 1.80x | 0.15x | - |
| Goodwill | 0 | 2.01M | 0 | 23.37M | 20.05M | 431K | 0 |
| Intangible Assets | 0 | 2.75M | 946K | 17.74M | 9.74M | 658K | 277K |
| Long-Term Investments | 0 | 0 | 0 | 730K | 2.67M | 0 | 0 |
| Other Non-Current Assets | 121M | 103K | 80K | 4.66M | 97K | 0 | 0 |
| Total Assets | 130.24M | 26.23M | 23.63M | 80.99M | 85.48M | 19.45M | 1.17M |
| Asset Turnover | 0.11x | 2.27x | 3.22x | 0.41x | 0.11x | 0.01x | - |
| Asset Growth % | 396.57% | 11.01% | -70.83% | -5.26% | 339.44% | 1558.31% | - |
| Total Current Liabilities | 8.63M | 18.83M | 16.28M | 17.45M | 6.12M | 2.74M | 2.23M |
| Accounts Payable | 0 | 5.46M | 5.11M | 7.83M | 2.42M | 1.81M | 328K |
| Days Payables Outstanding | - | 42.43 | 31.98 | 141.85 | 134.47 | 18.87K | 4.63K |
| Short-Term Debt | 2.88M | 2.08M | 1.93M | 1.09M | 18K | 251K | 1.03M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 5.74M | 7.77M | 6.59M | 5.65M | 2.03M | 0 | 0 |
| Current Ratio | 1.01x | 1.05x | 1.31x | 1.79x | 7.84x | 6.43x | 0.21x |
| Quick Ratio | 0.79x | 0.74x | 0.79x | 1.28x | 7.34x | 6.23x | 0.21x |
| Cash Conversion Cycle | - | 47.17 | 55.34 | 114.49 | 261.74 | -9.02K | - |
| Total Non-Current Liabilities | 51.05M | 2.88M | 942K | 7.13M | 2.42M | 459K | 246K |
| Long-Term Debt | 51.05M | 0 | 0 | 0 | 0 | 69K | 0 |
| Capital Lease Obligations | 0 | 2.03M | 942K | 1.56M | 908K | 251K | 246K |
| Deferred Tax Liabilities | 0 | 856K | 0 | 1.71M | 1.51M | 139K | 0 |
| Other Non-Current Liabilities | 9K | 0 | 0 | 3.85M | 0 | 0 | 0 |
| Total Liabilities | 59.68M | 21.72M | 17.22M | 24.57M | 8.54M | 3.2M | 2.48M |
| Total Debt | 53.93M | 4.9M | 3.67M | 3.76M | 1.34M | 649K | 1.33M |
| Net Debt | 48.34M | -1.12M | -678K | -5.17M | -36.28M | -14.87M | 1.19M |
| Debt / Equity | 0.76x | 1.09x | 0.57x | 0.07x | 0.02x | 0.04x | - |
| Debt / EBITDA | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - |
| Interest Coverage | -101.30x | -73.45x | -547.33x | - | -593.84x | -476.13x | -144.65x |
| Total Equity | 70.55M | 4.51M | 6.4M | 56.41M | 76.94M | 16.25M | -1.3M |
| Equity Growth % | 1464.35% | -29.58% | -88.65% | -26.68% | 373.48% | 1345.21% | - |
| Book Value per Share | 67.45 | 0.37 | 0.87 | 14.72 | 23.49 | 9.27 | -0.30 |
| Total Shareholders' Equity | 70.55M | 4.51M | 6.4M | 56.82M | 77.17M | 16.36M | -1.29M |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 27.25M | 1.4M |
| Retained Earnings | 0 | -158.14M | -142.55M | -90.86M | -38.54M | -17.29M | -2.82M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 180K | -221K | -140K | -2.73M | -1.11M | 39K | 130K |
| Minority Interest | 0 | 0 | 0 | -411K | -225K | -113K | -11K |
Imminent liquidity and insolvency
As reported in recent financial filings, Flora Growth's total assets have fluctuated significantly, reaching $130.2 million in 2025Q4, yet this expansion appears disconnected from operational health, as the company continues to struggle with persistent negative equity trends and a reliance on external capital to sustain its operations.
The volatility in asset levels suggests that the company's growth trajectory is driven more by accounting adjustments or capital raises than by organic business expansion. Investors should monitor whether these assets are truly productive or if they represent inflated valuations that may face future impairment.
Based on the latest quarterly data, Flora Growth's debt load has surged to $53.9 million in 2025Q4, representing a sharp departure from previous periods and indicating that the company is increasingly relying on debt financing to bridge its widening operational funding gap.
The rapid increase in debt-to-equity ratios suggests that the company's capital structure is becoming increasingly strained. This shift warrants further investigation into the terms of these obligations, as the company's inability to generate positive cash flow makes servicing this debt a significant long-term risk.
According to recent SEC filings, the company's cash position has dwindled to $5.6 million as of 2025Q4, leaving a current ratio of 1.01 that provides a razor-thin margin of safety against the company's ongoing operating losses and short-term liabilities.
The current liquidity profile appears precarious, as the company lacks a sufficient buffer to absorb further operational shocks. This suggests that management may be forced to pursue dilutive equity offerings or emergency financing to maintain basic business continuity in the coming quarters.
As indicated by the company's financial statements, the complete absence of goodwill in 2025Q4, down from previous periods, suggests that prior acquisition-related intangibles have been fully written off, which may signal that the company's past M&A strategy failed to deliver the anticipated long-term economic value.
The sudden disappearance of goodwill from the balance sheet is a critical red flag that implies previous investments in brands like JustCBD and Vessel have not met performance expectations. This development suggests that the company's historical asset valuation was overly optimistic and may have masked underlying operational weaknesses.
Quick answers to the most common questions about buying FLGC stock.
As of 2025, Flora Growth Corp. (FLGC) had total assets of $130.2M including $8.7M in current assets.
Flora Growth Corp. (FLGC) carries total debt of $53.9M, offset by $5.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Flora Growth Corp. (FLGC) has total shareholders' equity (book value) of $70.6M ($67.45 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Flora Growth Corp. (FLGC) reported a current ratio of 1.01x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.