The company's financial position has weakened substantially, evidenced by a shift to a $16.2M equity deficit and an accumulation of $67.5M in retained earnings losses by 2026Q3.
| Total Current Assets | 55.74B | 72.91M | 102.57M | 84.81M | 99.45M | 93.42M |
| Cash & Short-Term Investments | 17.57M | 24.35M | 35.07M | 49.43M | 74.48M | 85.25M |
| Cash Only | 17.57M | 24.35M | 35.07M | 40.3M | 74.48M | 85.25M |
| Short-Term Investments | 0 | 0 | 0 | 9.13M | 0 | 0 |
| Accounts Receivable | 28.65B | 40.18M | 60.22M | 24.67M | 10.32M | 4.34M |
| Days Sales Outstanding | 29.35K | 115.03 | 144.7 | 77.89 | 42.77 | 24.99 |
| Inventory | 5.48B | 6.65M | 6.37M | 7.47M | 14.58M | 3.05M |
| Days Inventory Outstanding | 6.57K | 23.14 | 19.02 | 28.76 | 71.16 | 21.04 |
| Other Current Assets | 3.57B | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 20.17B | 29.31M | 20.07M | 5.58M | 1.29M | 443.48K |
| Property, Plant & Equipment | 6.52B | 7.98M | 6.16M | 5.34M | 409.83K | 443.48K |
| Fixed Asset Turnover | 0.05x | 15.97x | 24.65x | 21.64x | 214.96x | 142.99x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 2.6B | 2.23M | 1.38M | 0 | 0 | 0 |
| Long-Term Investments | 33.96M | 18.88M | 12.25M | 0 | 0 | 0 |
| Other Non-Current Assets | 11.05B | 210.62K | 284.05K | 242.61K | 876.1K | 0 |
| Total Assets | 75.91B | 102.22M | 122.64M | 90.4M | 100.74M | 93.86M |
| Asset Turnover | 0.00x | 1.25x | 1.24x | 1.28x | 0.87x | 0.68x |
| Asset Growth % | 65416.59% | -16.65% | 35.67% | -10.26% | 7.32% | - |
| Total Current Liabilities | 54.85B | 72.54M | 85.99M | 55.85M | 88.97M | 79.84M |
| Accounts Payable | 5.01B | 56.59M | 70.83M | 52.97M | 42.27M | 33.38M |
| Days Payables Outstanding | 6.16K | 197.02 | 211.68 | 203.9 | 206.31 | 229.88 |
| Short-Term Debt | 1.55B | 1.15M | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 12.79M | 4.86M | 2.22M | 988.56K | 1.67M | 1.13M |
| Other Current Liabilities | 48.3B | 6.55M | 717.06K | 0 | 0 | 0 |
| Current Ratio | 1.02x | 1.01x | 1.19x | 1.52x | 1.12x | 1.17x |
| Quick Ratio | 0.92x | 0.91x | 1.12x | 1.38x | 0.95x | 1.13x |
| Cash Conversion Cycle | 29.76K | -58.84 | -47.95 | -97.25 | -92.38 | -183.85 |
| Total Non-Current Liabilities | 37.27B | 29.07M | 2.19M | 3.07M | 0 | 270.14K |
| Long-Term Debt | 2.27B | 805.36K | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 8.79M | 3.27M | 2.19M | 3.07M | 0 | 270.14K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 35B | 25M | 0 | 0 | 0 | 0 |
| Total Liabilities | 92.12B | 101.61M | 88.18M | 58.93M | 88.97M | 80.11M |
| Total Debt | 5.68M | 7.06M | 3.4M | 3.91M | 347.54K | 478.11K |
| Net Debt | -11.88M | -17.29M | -31.67M | -36.39M | -74.13M | -84.77M |
| Debt / Equity | -0.00x | 11.67x | 0.10x | 0.12x | 0.03x | 0.03x |
| Debt / EBITDA | -0.18x | - | - | - | - | 0.12x |
| Net Debt / EBITDA | 0.38x | - | - | - | - | -21.39x |
| Interest Coverage | -37.21x | - | - | - | - | - |
| Total Equity | -16.2B | 604.69K | 34.46M | 31.47M | 11.77M | 13.76M |
| Equity Growth % | -110035.07% | -98.25% | 9.49% | 167.45% | -14.47% | - |
| Book Value per Share | -282.83 | 0.01 | 0.63 | 0.58 | 0.22 | 0.26 |
| Total Shareholders' Equity | -16.2B | 604.69K | 34.46M | 31.47M | 11.77M | 13.76M |
| Common Stock | 5.74M | 5.72K | 5.65K | 5.42K | 5K | 5K |
| Retained Earnings | -67.45B | -48.07M | -8.83M | 5.94M | 11.95M | 13.82M |
| Treasury Stock | 0 | -60.49K | 0 | 0 | 0 | 0 |
| Accumulated OCI | -240.69M | -108.87K | 58.34K | -163.77K | -184.66K | -67.58K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Rapid Equity Erosion
As reported in recent financial filings, Ispire Technology's equity position has deteriorated from a positive $35.7M in 2024Q3 to a deficit of $16.2M by 2026Q3, signaling a concerning trajectory where persistent operating losses are rapidly consuming the company's net asset base.
The shift into negative equity suggests that the company's accumulated losses have now outpaced its capital base, which may complicate future financing efforts. Investors should monitor whether this trend forces a reliance on dilutive capital raises to stabilize the balance sheet.
Based on the company's quarterly data, the current ratio has compressed to 1.02 in 2026Q3, indicating that Ispire's ability to cover short-term obligations is increasingly reliant on its remaining $17.6M cash balance as operating cash flow remains consistently negative.
With current liabilities nearly matching total assets, the company possesses a very thin margin for error regarding working capital management. Any further contraction in liquidity could necessitate immediate external funding to maintain ongoing operations.
According to recent balance sheet disclosures, Ispire's asset base has undergone significant volatility, with goodwill rising to $2.6B in 2026Q3, a development that warrants investigation given the company's ongoing revenue contraction and negative operating margins.
The increasing proportion of intangible assets relative to total assets suggests a potential risk of future impairment charges if the underlying business units fail to meet performance expectations. This shift toward intangible-heavy assets may obscure the true liquidation value of the company's hardware-focused business model.
As indicated by the company's financial statements, the accumulation of a $67.5M deficit in retained earnings by 2026Q3 highlights a structural inability to generate self-sustaining profits, which serves as the primary driver behind the company's current balance sheet vulnerability.
This persistent deficit suggests that the company's growth strategy has been funded primarily through capital dilution rather than operational success. Analysts should consider whether the current business model can achieve profitability before the existing cash runway is fully exhausted.
Quick answers to the most common questions about buying ISPR stock.
As of 2025, Ispire Technology Inc. (ISPR) had total assets of $102.2M including $72.9M in current assets.
Ispire Technology Inc. (ISPR) carries total debt of $7.1M, offset by $24.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Ispire Technology Inc. (ISPR) has total shareholders' equity (book value) of $0.6M ($0.01 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Ispire Technology Inc. (ISPR) 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.