The company's financial position is increasingly vulnerable, characterized by a deep equity deficit of $80.8 million and a total debt load of $40.5 million as of 2024Q4.
| Metric | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 |
|---|
| Total Current Assets | 18.4M | 20.11M | 33.2M | 15.99M | 442.4K | 3.95M | 12.49M | 12.74M | 10.22M | 7.2M | 7.04M | 8.93M | 9.31M | 10.04M | 9.18M | 6.87M | 5.61M | 5.75M | 3.54M | 3.32M | 5.36M |
| Cash & Short-Term Investments | 3.08M | 3.52M | 3.99M | 4.49M | 391.8K | 347.04K | 1.82M | 2.62M | 3.23M | 1.86M | 1.63M | 2.44M | 3.23M | 4.1M | 4.69M | 2.82M | 1.93M | 2.58M | 703.75K | 748.74K | 1.68M |
| Cash Only | 3.08M | 3.52M | 3.99M | 4.49M | 391.8K | 347.04K | 1.82M | 2.62M | 3.23M | 1.79M | 1.63M | 2.01M | 2.03M | 2.09M | 3.37M | 1.26M | 998.15K | 1.02M | 567.36K | 468.96K | 1.62M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 72.22K | 0 | 435.03K | 1.19M | 2.01M | 1.33M | 1.56M | 936.19K | 1.57M | 136.38K | 279.77K | 58.56K |
| Accounts Receivable | 7.9M | 11.03M | 24.06M | 8.74M | 50.6K | 3.49M | 10.51M | 8.92M | 6.94M | 5.29M | 5.33M | 6.39M | 4.15M | 3.4M | 4.36M | 3.95M | 3.57M | 3.03M | 2.73M | 2.43M | 3.5M |
| Days Sales Outstanding | 97.5 | 94.35 | 175.61 | 336.02 | 1.57K | 14.49K | 443.7 | 120.9 | 118.67 | 119.08 | 129.32 | 149.37 | 106.28 | 76.86 | 102.44 | 111.33 | 121.04 | 108.05 | 150.23 | 127.88 | 193.83 |
| Inventory | 0 | 0 | 1.9M | 590.67K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.85M | 2.43M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | 15.11 | 27.15 | - | - | - | - | - | - | - | - | 61.56 | 79.89 | - | - | - | - | - | - | - |
| Other Current Assets | 6.29M | 4.08M | 2.79M | 2.17M | 0 | 116.84K | 0 | 1.07M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 40.01K | 41.03K | 49.74K | 85.65K |
| Total Non-Current Assets | 9.01M | 12.48M | 41.59M | 22.81M | 61.03K | 1.59M | 2.06M | 1.27M | 1.2M | 602.41K | 569.97K | 727.46K | 802.71K | 786.14K | 1.14M | 820.49K | 978.02K | 1.05M | 1.56M | 1.55M | 1.71M |
| Property, Plant & Equipment | 2.64M | 3.54M | 7.82M | 3.01M | 53.41K | 1.16M | 460.83K | 339.9K | 337.26K | 332.04K | 314.54K | 399.6K | 441.16K | 433.34K | 514.19K | 366.68K | 393.43K | 406.6K | 1.03M | 885.8K | 856.71K |
| Fixed Asset Turnover | 11.20x | 12.03x | 6.39x | 3.15x | 0.22x | 0.08x | 18.76x | 79.18x | 63.31x | 48.86x | 47.86x | 39.08x | 32.27x | 37.30x | 30.21x | 35.34x | 27.37x | 25.18x | 6.45x | 7.82x | 7.68x |
| Goodwill | 1.87M | 2.47M | 13.7M | 10.28M | 0 | 122.54K | 414.26K | 231.59K | 208.9K | 124.9K | 124.89K | 140.02K | 130.26K | 127.1K | 420.16K | 279.57K | 283.56K | 307.61K | 294.35K | 268.91K | 287.73K |
| Intangible Assets | 4.34M | 5.42M | 16.2M | 7.27M | 7.63K | 127.05K | 532.01K | 262.99K | 276.72K | 72.73K | 63.47K | 80.67K | 51.46K | 44.98K | 63.53K | 20.33K | 23.03K | 15.07K | 16.13K | 16.94K | 48.38K |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 94.2K | 74.6K | 71.45K | 32.9K | 27.24K | 36.3K | 1.34K | 42.1K | 39.53K | 35.37K | 25.15K | 220.84K | 26.09K | 108.61K | -4.63K |
| Other Non-Current Assets | 164K | 1.05M | 3.87M | 1.13M | 0 | 25.96K | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 118.61K | 0 | 0 | 0 | 0 |
| Total Assets | 27.42M | 32.59M | 74.79M | 38.8M | 503.44K | 5.54M | 14.55M | 14.01M | 11.42M | 7.81M | 7.61M | 9.66M | 10.12M | 10.82M | 10.32M | 7.69M | 6.59M | 6.8M | 5.1M | 4.87M | 7.06M |
| Asset Turnover | 1.08x | 1.31x | 0.67x | 0.24x | 0.02x | 0.02x | 0.59x | 1.92x | 1.87x | 2.08x | 1.98x | 1.62x | 1.41x | 1.49x | 1.51x | 1.69x | 1.64x | 1.51x | 1.30x | 1.42x | 0.93x |
| Asset Growth % | -15.88% | -56.43% | 92.77% | 7606.89% | -90.91% | -61.92% | 3.84% | 22.74% | 46.26% | 2.61% | -21.26% | -4.49% | -6.52% | 4.87% | 34.18% | 16.77% | -3.15% | 33.28% | 4.87% | -31.13% | - |
| Total Current Liabilities | 106.07M | 80.48M | 57.84M | 12.2M | 116.85K | 2.69M | 7.54M | 7.57M | 5.72M | 3.59M | 2.75M | 2.88M | 3.13M | 3.24M | 3.35M | 2.24M | 2.23M | 2.37M | 2.91M | 2.1M | 1.95M |
| Accounts Payable | 8.2M | 9.87M | 13.77M | 4.82M | 0 | 0 | 747.98K | 1.29M | 738.7K | 577.22K | 724.66K | 748.2K | 1.16M | 1.4M | 1.78M | 1.12M | 754.57K | 780.2K | 788.9K | 576.92K | 685.65K |
| Days Payables Outstanding | 122.09 | 85.94 | 109.48 | 221.47 | - | - | 38.28 | 21.15 | 16.15 | 15.55 | 21.04 | 21.67 | 38.72 | 46.1 | 62.13 | 45.23 | 34.55 | 41.15 | 60.48 | 39.34 | 52.2 |
| Short-Term Debt | 38.3M | 26.33M | 13.43M | 3.62M | 0 | 894.04K | 2.64M | 2.13M | 527.72K | 144.95K | 207.63K | 16.42K | 15.28K | 28.77K | 33.04K | 35.11K | 357.16K | 195.12K | 1.09M | 545.86K | 258.1K |
| Deferred Revenue (Current) | 950K | 1.47M | 1.01M | 0 | 33.8K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 20.62M | 12.35M | 3.84M | 2.64M | -33.8K | 1.32M | 1.91M | 1.9M | 2.73M | 1.64M | 779.4K | 920.77K | 777.79K | 675.52K | 860.37K | 491.82K | 711.68K | 930.37K | 502.85K | 601.03K | 720.6K |
| Current Ratio | 0.17x | 0.25x | 0.57x | 1.31x | 3.79x | 1.47x | 1.66x | 1.68x | 1.79x | 2.00x | 2.56x | 3.10x | 2.98x | 3.10x | 2.74x | 3.07x | 2.51x | 2.43x | 1.22x | 1.58x | 2.75x |
| Quick Ratio | 0.17x | 0.25x | 0.54x | 1.26x | 3.79x | 1.47x | 1.66x | 1.68x | 1.79x | 2.00x | 2.56x | 3.10x | 2.39x | 2.35x | 2.74x | 3.07x | 2.51x | 2.43x | 1.22x | 1.58x | 2.75x |
| Cash Conversion Cycle | - | - | 81.23 | 141.69 | - | - | - | - | - | - | - | - | 129.13 | 110.64 | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 2.16M | 2.84M | 8.15M | 5.46M | 175.67K | 1.23M | 1.3M | 1.29M | 1.26M | 626.31K | 491.33K | 479.69K | 505.21K | 324.29K | 250.18K | 131.73K | 224.52K | 367.11K | 341.79K | 238.94K | 393.75K |
| Long-Term Debt | 0 | 0 | 0 | 1.22M | 0 | 98.55K | 499.63K | 178.88K | 225.79K | 32.9K | 0 | 16.71K | 30.82K | 44.98K | 64.94K | 0 | 0 | 16.63K | 83.49K | 0 | 154.86K |
| Capital Lease Obligations | 1.21M | 1.71M | 5M | 1.95M | 9.17K | 709.12K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 79K | 116K | 161K | 1.52M | 0 | 58.5K | 178.76K | 146.9K | 154.34K | 148.55K | 122.06K | 95.36K | 113.91K | 55.7K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 651K | 869K | 2.1M | 462.77K | 0 | 156.5K | 623.27K | 962.94K | 882.13K | 444.87K | 369.27K | 367.62K | 360.48K | 223.6K | 185.23K | 131.73K | 224.52K | 350.48K | 258.3K | 238.94K | 238.89K |
| Total Liabilities | 108.23M | 83.32M | 65.98M | 17.66M | 292.52K | 3.91M | 8.84M | 8.85M | 6.98M | 4.22M | 3.24M | 3.36M | 3.63M | 3.56M | 3.6M | 2.37M | 2.46M | 2.73M | 3.25M | 2.34M | 2.34M |
| Total Debt | 40.48M | 28.77M | 19.9M | 7.44M | 26.85K | 2M | 3.14M | 2.31M | 753.51K | 177.84K | 207.63K | 33.13K | 46.1K | 73.75K | 97.98K | 35.11K | 357.16K | 211.74K | 1.17M | 545.86K | 412.96K |
| Net Debt | 37.4M | 25.25M | 15.9M | 2.95M | -364.95K | 1.65M | 1.32M | -305.62K | -2.48M | -1.61M | -1.42M | -1.97M | -1.99M | -2.01M | -3.27M | -1.23M | -640.99K | -803.85K | 601.52K | 76.89K | -1.21M |
| Debt / Equity | - | - | 2.26x | 0.35x | 0.13x | 1.23x | 0.63x | 0.52x | 0.20x | 0.06x | 0.06x | 0.01x | 0.01x | 0.01x | 0.01x | 0.01x | 0.09x | 0.05x | 0.63x | 0.22x | 0.09x |
| Debt / EBITDA | - | - | - | - | 0.06x | - | 14.34x | 4.37x | 0.93x | - | - | - | - | 0.06x | 0.05x | 0.02x | 2.18x | 0.22x | - | - | 1.34x |
| Net Debt / EBITDA | - | - | - | - | -0.76x | - | 6.03x | -0.58x | -3.06x | - | - | - | - | -1.66x | -1.79x | -0.81x | -3.92x | -0.85x | - | - | -3.94x |
| Interest Coverage | -2.02x | -10.79x | -47.09x | -20.17x | 280.26x | -2.32x | 1.05x | 2.91x | 13.43x | -14.09x | -16.65x | -32.18x | -3459.00x | 739.19x | 199.31x | 102.23x | 0.98x | 28.62x | -7.04x | -35.55x | 3.53x |
| Total Equity | -80.82M | -50.73M | 8.81M | 21.14M | 210.92K | 1.63M | 4.97M | 4.42M | 3.7M | 2.85M | 3.72M | 5.72M | 6.04M | 6.91M | 6.59M | 5.28M | 4.09M | 4.07M | 1.85M | 2.53M | 4.72M |
| Equity Growth % | -59.3% | -675.86% | -58.32% | 9922.45% | -87.06% | -67.22% | 12.5% | 19.47% | 29.83% | -23.33% | -35.09% | -5.23% | -12.58% | 4.85% | 24.7% | 29.3% | 0.53% | 120.11% | -26.93% | -46.47% | - |
| Book Value per Share | -22913.81 | -39297.44 | 7748.46 | 20463.64 | 731.71 | 6505.68 | 24204.30 | 18923.13 | 16447.66 | 15546.92 | 21695.47 | 39430.34 | 39232.23 | 46491.50 | 45912.35 | 38104.19 | 30047.32 | 31642.98 | 15760.99 | 27122.57 | 10110.83 |
| Total Shareholders' Equity | -80.79M | -53.51M | 6.41M | 20.82M | 210.92K | 1.28M | 4.03M | 3.58M | 2.98M | 2.25M | 3.15M | 5.08M | 5.53M | 6.19M | 5.93M | 4.84M | 3.65M | 3.65M | 1.48M | 2.24M | 4.45M |
| Common Stock | 117.25M | 103.39M | 81.62M | 22.74M | 4.93M | 66.18K | 215.43K | 183.77K | 165.51K | 121.56K | 108.19K | 121.29K | 82.55K | 79.5K | 77.93K | 72.86K | 73.07K | 71.71K | 59.77K | 32.15K | 33.8K |
| Retained Earnings | -226.25M | -186.49M | -99.04M | -5.61M | -1.42M | -1.86M | -6.27M | -6.91M | -6.49M | -6.78M | -5.56M | -4.66M | -3.47M | -2.55M | -2.7M | -3.32M | -4.46M | -4.21M | -4.17M | -3.03M | -1.13M |
| Treasury Stock | -1.23M | -1.23M | -1.23M | -395.28K | 0 | -23.04K | -77.88K | -83.82K | -75.61K | -74.79K | -74.78K | -83.84K | -77.99K | -76.1K | -82.17K | 0 | 0 | -519 | -474 | -434 | 0 |
| Accumulated OCI | 18.52M | 19.91M | 14.7M | 11.6M | 0 | 0 | -24.09K | -50.7K | -20.53K | -88.15K | -30.07K | -63.09K | 490.47K | 500.82K | 457.71K | 459.35K | 384.43K | 271.24K | 151.8K | 256.96K | 235.42K |
| Minority Interest | -30K | 2.78M | 2.4M | 318.48K | 0 | 345.93K | 937.98K | 837.35K | 719.73K | 597.52K | 562.77K | 647.94K | 506.82K | 716.57K | 664.41K | 441.92K | 433.15K | 417.25K | 366.7K | 291.28K | 273.15K |
Imminent liquidity and solvency
As reported in financial statements, HUBC's equity has deteriorated into a deep deficit of $80.8 million by 2024Q4, reflecting a consistent pattern of value destruction that suggests the company's current business model is failing to generate the returns necessary to offset its mounting accumulated losses.
The shift from a positive equity position in 2022 to a significant deficit highlights a structural inability to achieve operational scale. This trajectory suggests that the company is consuming its capital base to fund ongoing operations, which may necessitate further dilutive actions to maintain solvency.
Based on recent SEC filings, HUBC's current ratio has plummeted to 0.17 as of 2024Q4, indicating that the firm lacks the liquid assets required to cover its short-term obligations and faces an immediate risk of insolvency without a significant capital injection or restructuring event.
A current ratio below 1.0 is concerning, but a reading of 0.17 suggests an extreme liquidity crisis that leaves virtually no margin for operational error. Investors should monitor whether the company can secure emergency financing, as the current cash balance of $3.1 million appears insufficient to support its high fixed-cost structure.
According to the company's balance sheet data, total debt has climbed to $40.5 million, creating a heavy interest and repayment burden that appears unsustainable given the firm's inability to generate positive operating cash flow or maintain a stable top-line revenue trajectory.
The accumulation of debt in the face of declining revenue suggests that the company is relying on external financing to bridge its operational gaps rather than organic growth. This reliance on debt, combined with negative equity, implies that the firm's capital structure is highly distressed and potentially unserviceable.
As indicated by historical financial data, the company's accumulated deficit has ballooned to $226.2 million, a figure that significantly obscures the underlying operational performance and suggests that historical R&D investments have failed to produce a commercially viable or scalable product suite for the cybersecurity market.
The sheer scale of the accumulated deficit relative to total assets of $27.4 million suggests that the company's intellectual property and past investments may be significantly overvalued on the books. This discrepancy warrants further investigation into potential future impairment charges that could further erode the company's already fragile balance sheet.
Quick answers to the most common questions about buying HUBC stock.
As of 2024, HUB Cyber Security Ltd. (HUBC) had total assets of $27.4M including $18.4M in current assets.
HUB Cyber Security Ltd. (HUBC) carries total debt of $40.5M, offset by $3.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
HUB Cyber Security Ltd. (HUBC) has total shareholders' equity (book value) of $-80.8M ($-22913.81 book value per share). Book value represents the net worth of the company belonging to common stock holders.
HUB Cyber Security Ltd. (HUBC) reported a current ratio of 0.17x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.