The company's financial position has deteriorated significantly, with equity shifting from $20.5 million in 2023Q4 to a negative $10.7 million by 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Total Current Assets | 30.52M | 15.31M | 11.76M | 10.7M | 25.54M | 39.14M | 9.23M | 22.96M | 8.64M | 8.53M | 12.7M | 10.93M | 3.65M | 4.85M |
| Cash & Short-Term Investments | 28.2M | 11.58M | 8.64M | 9.43M | 20.43M | 33.85M | 7.82M | 22.45M | 8.46M | 8.36M | 12.41M | 10.54M | 3.54M | 4.73M |
| Cash Only | 28.2M | 11.58M | 8.64M | 9.43M | 19.99M | 32.95M | 7.14M | 22.07M | 8.03M | 7.6M | 10.17M | 8M | 257K | 101K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 433K | 904K | 675K | 379K | 428K | 760K | 2.24M | 2.54M | 3.28M | 4.63M |
| Accounts Receivable | 157K | 1.13M | 1.61M | 484K | 2.01M | 1.44M | 203K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | 96.21 | 101.53 | 313 | 117.54 | 766.58 | 238.63 | 60.93 | - | - | - | - | - | - | - |
| Inventory | 382K | 446K | 410K | 0 | 0 | 304K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 115.81 | 42.12 | 131.16 | - | - | 142.62 | - | - | - | - | - | - | - | - |
| Other Current Assets | 1.78M | 2.15M | 1.1M | 782K | 2.12M | 2.94M | 941K | 425K | 180K | 168K | 285K | 366K | 0 | 0 |
| Total Non-Current Assets | 9.91M | 10.45M | 23.32M | 64.19M | 74.56M | 120.42M | 46.19M | 16.9M | 876K | 1.69M | 1.75M | 1.81M | 2.71M | 3.44M |
| Property, Plant & Equipment | 2.46M | 2.81M | 2.76M | 5.44M | 10.85M | 8.37M | 6.52M | 3.73M | 614K | 822K | 688K | 576K | 118K | 148K |
| Fixed Asset Turnover | 0.77x | 1.44x | 0.68x | 0.28x | 0.09x | 0.26x | 0.19x | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 18.68M | 9.19M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 14.61M | 56.59M | 61.63M | 61.72M | 15.01M | 0 | 0 | 746K | 988K | 1.23M | 1.47M | 1.71M |
| Long-Term Investments | 2.31M | 607K | 1.7M | 0 | 0 | 0 | 13.42M | 10.96M | 0 | 0 | 0 | 0 | 0 | -1.57M |
| Other Non-Current Assets | 7.45M | 7.03M | 4.26M | 2.16M | 2.07M | 31.65M | 1.94M | 2.21M | 262K | 120K | 75K | 0 | 0 | 1.57M |
| Total Assets | 40.43M | 25.76M | 35.08M | 74.89M | 100.09M | 159.56M | 55.42M | 39.86M | 9.52M | 10.22M | 14.45M | 12.73M | 6.36M | 8.29M |
| Asset Turnover | 0.05x | 0.16x | 0.05x | 0.02x | 0.01x | 0.01x | 0.02x | - | - | - | - | - | - | - |
| Asset Growth % | -129.42% | -26.58% | -53.16% | -25.18% | -37.27% | 187.92% | 39.04% | 318.77% | -6.83% | -29.29% | 13.48% | 100.3% | -23.3% | - |
| Total Current Liabilities | 12.01M | 12.07M | 7.28M | 7.19M | 12.11M | 14.12M | 9M | 4.44M | 5.56M | 4.45M | 4.28M | 2.31M | 7.43M | 4.67M |
| Accounts Payable | 1.61M | 2.54M | 2.28M | 953K | 1.25M | 1.81M | 432K | 469K | 166K | 175K | 422K | 285K | 144K | 103K |
| Days Payables Outstanding | 377.44 | 240.25 | 729.04 | 319.12 | 468.59 | 849.16 | 85 | 497.63 | 108.39 | 110.13 | 398.01 | 367.58 | - | - |
| Short-Term Debt | 1.76M | 1.81M | 0 | 0 | 0 | 1.31M | 2.39M | 1.35M | 1.19M | 1.14M | 202K | 0 | 5.89M | 2.96M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 8.63M | 7.72M | 2.17M | 4.01M | 4.43M | 6.71M | 0 | 1.09M | 3.02M | 2.4M | 46K | 847K | 1.25M | 1.57M |
| Current Ratio | 2.54x | 1.27x | 1.62x | 1.49x | 2.11x | 2.77x | 1.03x | 5.17x | 1.55x | 1.91x | 2.97x | 4.72x | 0.49x | 1.04x |
| Quick Ratio | 2.51x | 1.23x | 1.56x | 1.49x | 2.11x | 2.75x | 1.03x | 5.17x | 1.55x | 1.91x | 2.97x | 4.72x | 0.49x | 1.04x |
| Cash Conversion Cycle | -165.42 | -96.6 | -284.89 | - | - | -467.91 | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 39.11M | 45.15M | 40.08M | 47.23M | 48.39M | 80.23M | 12.94M | 4.58M | 534K | 1.36M | 310K | 0 | 0 | 0 |
| Long-Term Debt | 1.31M | 0 | 0 | 0 | 0 | 0 | 1.51M | 1.91M | 347K | 1.07M | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 3.52M | 1.69M | 2.37M | 2.2M | 2.73M | 3.54M | 4.31M | 2.68M | 187K | 289K | 310K | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 37.81M | 43.45M | 37.71M | 45.03M | 45.66M | 76.68M | 7.12M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 51.12M | 57.22M | 47.35M | 54.42M | 60.5M | 94.35M | 21.94M | 9.02M | 6.09M | 5.81M | 4.58M | 2.31M | 7.43M | 4.67M |
| Total Debt | 3.07M | 3.5M | 3.66M | 2.87M | 3.54M | 5.68M | 8.63M | 6.17M | 1.72M | 2.5M | 512K | 0 | 5.89M | 2.96M |
| Net Debt | -25.13M | -8.09M | -4.97M | -6.56M | -16.45M | -27.27M | 1.49M | -15.91M | -6.32M | -5.1M | -9.66M | -8M | 5.63M | 2.86M |
| Debt / Equity | -0.29x | - | - | 0.14x | 0.09x | 0.09x | 0.26x | 0.20x | 0.50x | 0.57x | 0.05x | - | - | 0.82x |
| Debt / EBITDA | -0.08x | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.65x | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -522.35x | -280.53x | -721.18x | -476.98x | -223.24x | -251.97x | -122.75x | -74.38x | -71.94x | -86.86x | -397.86x | -458.74x | -2492.00x | - |
| Total Equity | -10.69M | -31.46M | -12.27M | 20.47M | 39.59M | 65.22M | 33.48M | 30.84M | 3.42M | 4.4M | 9.86M | 10.42M | -1.07M | 3.62M |
| Equity Growth % | -650.84% | -156.35% | -159.97% | -48.31% | -39.29% | 94.78% | 8.58% | 800.91% | -22.26% | -55.35% | -5.33% | 1069.93% | -129.71% | - |
| Book Value per Share | -0.31 | -1.03 | -0.94 | 2.68 | 7.15 | 14.67 | 10.23 | 12.02 | 1.81 | 2.92 | 7.43 | 9.92 | -0.99 | 11.14 |
| Total Shareholders' Equity | -10.69M | -31.46M | -12.27M | 20.47M | 39.59M | 65.22M | 33.48M | 30.84M | 3.42M | 4.4M | 9.86M | 10.42M | -1.07M | 3.62M |
| Common Stock | 394.29M | 369.21M | 338.24M | 310.3M | 294.93M | 252.95M | 157.16M | 124.58M | 74.74M | 59.97M | 45.82M | 34.9M | 15.15M | 15.4M |
| Retained Earnings | -405.05M | -400.76M | -350.54M | -289.88M | -260.68M | -187.77M | -123.68M | -93.75M | -71.32M | -54.68M | -35.3M | -24.13M | -15.4M | -10.41M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 71K | 86K | 21K | 49K | 39K | 37K | 0 | 0 | 0 | -888K | -654K | -350K | -822K | -1.37M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity shortfall
As reported in financial statements, IMDX's equity position has deteriorated significantly, shifting from a positive $20.5 million in 2023Q4 to a negative $10.7 million by 2026Q1, signaling a persistent erosion of shareholder value driven by continuous operating losses and the absence of a self-sustaining business model.
The consistent decline in equity suggests that the company is consuming its capital base to fund ongoing operations rather than building intrinsic value. This trajectory warrants close monitoring, as the transition into negative equity territory often limits future financing flexibility and increases the cost of capital.
Based on reported figures, IMDX's cash reserves have fluctuated wildly, dropping from a peak of $31.0 million in 2025Q1 to $28.2 million in 2026Q1, which, when viewed against the company's high burn rate, suggests a limited buffer against potential operational shocks or further commercial delays.
While the current ratio of 2.54 appears superficially healthy, the underlying cash position remains highly sensitive to the timing of capital raises. Investors should interpret this liquidity profile as fragile, given that the company lacks the internal cash generation necessary to cover its substantial operating expenses.
According to recent SEC filings, the total asset base has been heavily influenced by the complete write-down of $56.6 million in goodwill previously held on the balance sheet, which indicates that prior acquisition-related expectations have failed to materialize into tangible economic benefits for the firm.
The removal of goodwill from the balance sheet suggests a necessary, albeit painful, recognition that the company's past inorganic growth strategies did not create the anticipated value. The remaining asset mix is now primarily composed of cash and minimal PPE, reflecting a business that is essentially in a survival-oriented state.
Financial data reveals that the company's reliance on debt, while relatively small at $3.1 million, creates an additional layer of risk given the negative equity position, which may indicate that the firm is operating under restrictive covenants that could be triggered by further financial deterioration.
The presence of debt on a balance sheet with negative equity is a significant red flag that suggests the company may be nearing a point where it must prioritize debt service over growth initiatives. This structure implies that any further operational setbacks could lead to a forced restructuring or highly dilutive equity issuance.
Quick answers to the most common questions about buying IMDX stock.
As of 2025, Insight Molecular Diagnostics Inc. (IMDX) had total assets of $25.8M including $15.3M in current assets.
Insight Molecular Diagnostics Inc. (IMDX) carries total debt of $3.5M, offset by $11.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Insight Molecular Diagnostics Inc. (IMDX) has total shareholders' equity (book value) of $-31.5M ($-1.03 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Insight Molecular Diagnostics Inc. (IMDX) reported a current ratio of 1.27x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.