The company maintains a conservative capital structure with a debt-to-equity ratio of 0.01 and a robust current ratio of 7.32 as of 2026Q3.
| Total Current Assets | 314.06M | 255.33M | 14.91M | 18.42M | 26.2M | 6.17M |
| Cash & Short-Term Investments | 291.32M | 237.59M | 8.25M | 14.81M | 24.34M | 5.76M |
| Cash Only | 291.32M | 237.59M | 8.25M | 14.81M | 24.34M | 5.76M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 12.71M | 8.08M | 2M | 2.11M | 0 | 0 |
| Days Sales Outstanding | 44.09 | 49.31 | 26.22 | 101.08 | - | - |
| Inventory | 0 | 6.57M | 3.29M | 2.11M | 0 | 0 |
| Days Inventory Outstanding | 13.98 | 67.37 | 43.74 | 42.19 | - | - |
| Other Current Assets | 10.03M | 1.69M | 419K | -1.74M | 1.34M | 209K |
| Total Non-Current Assets | 65.28M | 40.42M | 31.04M | 20.23M | 4.33M | 1.71M |
| Property, Plant & Equipment | 57.22M | 36.91M | 28.39M | 16.72M | 3.08M | 1.13M |
| Fixed Asset Turnover | 1.82x | 1.62x | 0.98x | 0.46x | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 8.06M | 3.51M | 2.65M | 3.51M | 1.24M | 580K |
| Total Assets | 379.34M | 295.74M | 45.95M | 38.66M | 30.52M | 7.87M |
| Asset Turnover | 0.28x | 0.20x | 0.61x | 0.20x | - | - |
| Asset Growth % | 898.02% | 543.64% | 18.87% | 26.65% | 287.68% | - |
| Total Current Liabilities | 42.93M | 37.98M | 32.97M | 36.74M | 6.61M | 4.02M |
| Accounts Payable | 24.02M | 23.96M | 23.89M | 6.16M | 1.7M | 1.83M |
| Days Payables Outstanding | 184.52 | 245.63 | 317.67 | 123.03 | - | - |
| Short-Term Debt | 10K | 187K | 0 | 20.45M | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 42.92M | 8.49M | 6.19M | 4.67M | 0 | 0 |
| Current Ratio | 7.32x | 6.72x | 0.45x | 0.50x | 3.96x | 1.54x |
| Quick Ratio | 7.32x | 6.55x | 0.35x | 0.44x | 3.96x | 1.54x |
| Cash Conversion Cycle | -126.46 | -128.95 | -247.7 | 20.24 | - | - |
| Total Non-Current Liabilities | 48.42M | 52.36M | 222.35M | 119.5M | 22.15M | 0 |
| Long-Term Debt | 4.28M | 41.1M | 42.54M | 17.32M | 20.24M | 0 |
| Capital Lease Obligations | 6.09M | 3.03M | 2.63M | 0 | 1.55M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 44.15M | 8.24M | 177.19M | 102.17M | 360K | 0 |
| Total Liabilities | 91.35M | 90.34M | 255.33M | 156.23M | 28.76M | 4.02M |
| Total Debt | 4.29M | 44.31M | 45.17M | 39.13M | 22.85M | 452K |
| Net Debt | -287.04M | -193.28M | 36.92M | 24.32M | -1.49M | -5.3M |
| Debt / Equity | 0.01x | 0.22x | - | - | 12.94x | 0.12x |
| Debt / EBITDA | -0.03x | - | - | - | - | - |
| Net Debt / EBITDA | 2.02x | - | - | - | - | - |
| Interest Coverage | -13.93x | -13.75x | -13.65x | -14.29x | -28.00x | - |
| Total Equity | 287.99M | 205.41M | -209.38M | -117.58M | 1.77M | 3.86M |
| Equity Growth % | 579.14% | 198.1% | -78.08% | -6757.87% | -54.21% | - |
| Book Value per Share | 5.45 | 4.15 | -4.23 | -2.37 | 0.04 | 0.08 |
| Total Shareholders' Equity | 287.99M | 205.41M | -209.38M | -117.58M | 1.77M | 3.86M |
| Common Stock | 58.35M | 51.35M | 1K | 1K | 1K | 1K |
| Retained Earnings | -613.03M | -520.25M | -406.44M | -312.31M | -170.08M | -135.98M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
High Cash Burn Dependency
According to recent balance sheet data, KMTS has successfully transitioned from a deficit-ridden equity position of -$274.1M in 2025Q3 to a positive $288.0M in 2026Q3, primarily driven by significant capital raises that have fundamentally altered the company's long-term solvency profile and operational runway.
The dramatic shift in equity suggests that management has successfully tapped capital markets to bridge the gap between commercial scaling and profitability. While this strengthens the balance sheet, investors should monitor whether this capital is being deployed to achieve sustainable unit economics or merely to fund ongoing operating losses.
As reported in financial statements, the company's cash position surged to $291.3M by 2026Q3, resulting in a current ratio of 7.32, which provides a substantial liquidity buffer against the high cash burn rates inherent in the company's current commercial expansion phase.
A current ratio of 7.32 is exceptionally high for a medical device firm, suggesting that the company is currently prioritizing liquidity over capital efficiency. This provides management with significant flexibility to navigate potential market volatility or unexpected increases in customer acquisition costs without immediate financing pressure.
Based on reported figures, net PPE has grown to $57.2M in 2026Q3, reflecting the capital-intensive nature of the ASSURE system deployment where hardware is placed in the field as part of a recurring service-based revenue model rather than sold as a one-time capital good.
The steady increase in PPE indicates that the company is actively expanding its installed base of wearable devices. Analysts should evaluate the depreciation schedule of these assets, as any acceleration in technology cycles could lead to future impairment risks if the current hardware becomes obsolete faster than anticipated.
Analysis of the balance sheet shows that KMTS maintains a conservative debt-to-equity ratio of 0.01 as of 2026Q3, indicating that the company has largely avoided debt financing in favor of equity-based capital to fund its aggressive growth strategy.
The minimal reliance on debt is prudent given the company's current negative operating margins and high cash burn. By avoiding interest-bearing obligations, management preserves cash flow for R&D and sales force expansion, though this approach likely results in significant shareholder dilution.
Despite the recent strengthening of the balance sheet, the company carries an accumulated deficit of $613.0M as of 2026Q3, which serves as a stark reminder of the massive capital investment required to challenge the incumbent WCD market leader.
The sheer scale of the accumulated deficit suggests that the company's path to profitability is long and fraught with execution risk. Investors should look past the improved headline equity numbers and focus on whether the underlying business model can eventually generate sufficient cash to offset these historical losses.
Quick answers to the most common questions about buying KMTS stock.
As of 2025, KESTRA MEDICAL TECHNOLOGIES, LTD. (KMTS) had total assets of $295.7M including $255.3M in current assets.
KESTRA MEDICAL TECHNOLOGIES, LTD. (KMTS) carries total debt of $44.3M, offset by $237.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
KESTRA MEDICAL TECHNOLOGIES, LTD. (KMTS) has total shareholders' equity (book value) of $205.4M ($4.15 book value per share). Book value represents the net worth of the company belonging to common stock holders.
KESTRA MEDICAL TECHNOLOGIES, LTD. (KMTS) reported a current ratio of 6.72x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.