Solvency risks are escalating as the current ratio has plummeted from 9.05 in 2023Q4 to a precarious 0.53 in 2026Q1, signaling a severe reduction in short-term liquidity.
Laser Photonics Corporation (LASE) balance sheet — 7-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 |
|---|
| Total Current Assets | 4.6M | 2.99M | 4.66M | 9.29M | 13.72M | 2.49M | 3.26M | 495.15K |
| Cash & Short-Term Investments | 2.16M | 650.34K | 533.87K | 6.2M | 12.18M | 615.75K | 326.71K | 0 |
| Cash Only | 2.16M | 650.34K | 533.87K | 6.2M | 12.18M | 615.75K | 326.71K | 0 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 508.11K | 805.88K | 1.73M | 816.36K | 421.36K | 84.36K | 756.1K | 0 |
| Days Sales Outstanding | 48.33 | 37.13 | 185.24 | 75.64 | 39.41 | 7.35 | 128.08 | - |
| Inventory | 1.18M | 1.29M | 2.34M | 2.24M | 1.69M | 1.79M | 2.17M | 0 |
| Days Inventory Outstanding | 69.06 | 69.91 | 441.36 | 783.98 | 296.13 | 423.75 | 834.82 | - |
| Other Current Assets | 84.38K | 245.82K | 58.57K | 39.19K | -575.26K | 3K | 0 | 0 |
| Total Non-Current Assets | 5.98M | 6.46M | 12.49M | 5.83M | 4.86M | 4.37M | 4.23M | 0 |
| Property, Plant & Equipment | 4.8M | 5.24M | 6.71M | 1.55M | 1.92M | 1.2M | 1.05M | 0 |
| Fixed Asset Turnover | 1.20x | 1.51x | 0.51x | 2.54x | 2.03x | 3.50x | 2.06x | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 874.07K | 922.7K | 5.46M | 4.28M | 2.94M | 3.17M | 3.18M | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 302K | 302K | 316.38K | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 10.58M | 9.45M | 17.15M | 15.12M | 18.58M | 6.86M | 7.48M | 495.15K |
| Asset Turnover | 0.51x | 0.84x | 0.20x | 0.26x | 0.21x | 0.61x | 0.29x | - |
| Asset Growth % | -41.68% | -44.91% | 13.41% | -18.62% | 170.88% | -8.34% | 1411.61% | - |
| Total Current Liabilities | 7.71M | 10.33M | 2.57M | 1.03M | 964.33K | 392.43K | 1.03M | 5.28K |
| Accounts Payable | 2.07M | 1.6M | 531.27K | 223.04K | 190.39K | 113.44K | 55.76K | 5.28K |
| Days Payables Outstanding | 85.88 | 86.66 | 100.26 | 78.15 | 33.29 | 26.84 | 21.43 | - |
| Short-Term Debt | 862.99K | 4.56M | 649.99K | 0 | 0 | 7.95K | 181.2K | 0 |
| Deferred Revenue (Current) | 10.61M | 2.36M | 1.1M | 213.11K | 0 | 91.78K | 779.13K | 0 |
| Other Current Liabilities | 222.71K | 338.9K | 0 | 0 | 0 | 7.51K | -168.53K | 0 |
| Current Ratio | 0.60x | 0.29x | 1.81x | 9.01x | 14.23x | 6.36x | 3.16x | 93.78x |
| Quick Ratio | 0.44x | 0.16x | 0.90x | 6.84x | 12.47x | 1.79x | 1.05x | 93.78x |
| Cash Conversion Cycle | 31.51 | 20.39 | 526.34 | 781.47 | 302.26 | 404.25 | 941.47 | - |
| Total Non-Current Liabilities | 3.78M | 4.15M | 4.37M | 162.99K | 487.56K | 907.01K | 1.17M | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 579.01K | 1.13M | 0 |
| Capital Lease Obligations | 16.23M | 4.15M | 4.37M | 162.99K | 487.56K | 328K | 43.85K | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 28.75K | 0 |
| Total Liabilities | 11.49M | 14.49M | 6.94M | 1.19M | 1.45M | 1.3M | 2.2M | 5.28K |
| Total Debt | 4.89M | 8.92M | 5.02M | 597.14K | 832.07K | 1.09M | 1.35M | 0 |
| Net Debt | 2.74M | 8.27M | 4.48M | -5.6M | -11.35M | 470.97K | 1.02M | 0 |
| Debt / Equity | -5.37x | - | 0.49x | 0.04x | 0.05x | 0.20x | 0.26x | - |
| Debt / EBITDA | -0.44x | - | - | - | - | 1.08x | 36.45x | - |
| Net Debt / EBITDA | -0.25x | - | - | - | - | 0.47x | 27.63x | - |
| Interest Coverage | -19.79x | -2.09x | - | - | -84.73x | 12.84x | - | - |
| Total Equity | -911.55K | -5.04M | 10.21M | 13.93M | 17.13M | 5.56M | 5.29M | 489.87K |
| Equity Growth % | -452.85% | -149.32% | -26.68% | -18.69% | 208.07% | 5.19% | 979.19% | - |
| Book Value per Share | -0.02 | -0.29 | 0.81 | 1.56 | 3.04 | 1.14 | 0.83 | 0.10 |
| Total Shareholders' Equity | -911.55K | -5.04M | 10.21M | 13.93M | 17.13M | 5.56M | 5.29M | 489.87K |
| Common Stock | 47.65K | 22.85K | 14.26K | 92.53K | 78.78K | 48.78K | 292.7K | 26.61K |
| Retained Earnings | -31.44M | -25.21M | -7.75M | -5.24M | -1.92M | 269.29K | -5K | -15.64K |
| Treasury Stock | -10K | -10K | -33.81K | -25.24K | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 829.5K | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying LASE stock.
As of 2025, Laser Photonics Corporation (LASE) had total assets of $9.4M including $3.0M in current assets.
Laser Photonics Corporation (LASE) carries total debt of $8.9M, offset by $0.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Laser Photonics Corporation (LASE) has total shareholders' equity (book value) of $-5.0M ($-0.29 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Laser Photonics Corporation (LASE) reported a current ratio of 0.29x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Liquidity and capital exhaustion
Metrics are mathematically derived from official filings.
Deteriorating Solvency and Equity Erosion
According to recent financial statements, LASE's equity position has shifted from a positive $13.9 million in 2023Q4 to a deficit of $1.7 million by 2026Q1, signaling a rapid erosion of shareholder value driven by persistent net losses and an inability to achieve operational scale.
The transition into negative equity suggests that the company's accumulated losses have fully exhausted its initial capital base. This trajectory implies that the business model is currently failing to generate the internal returns necessary to sustain its asset base without recurring external financing.
Rising Leverage Amidst Capital Scarcity
As reported in quarterly filings, the company's total debt has climbed from $597,100 in 2023Q4 to $5.8 million in 2026Q1, reflecting a strategic reliance on debt financing to bridge the gap between operational cash burn and the capital requirements of its industrial manufacturing activities.
The increase in debt, coupled with a shrinking equity base, indicates a significant rise in financial risk that may limit future borrowing capacity. Investors should monitor whether this leverage is being used to fund productive capacity or merely to cover ongoing operating deficits.
Critical Contraction of Liquidity Buffers
Based on the provided balance sheet data, LASE's current ratio has plummeted from a robust 9.05 in 2023Q4 to a precarious 0.53 in 2026Q1, highlighting a severe reduction in the company's ability to meet its short-term obligations using existing liquid assets.
A current ratio below 1.0 suggests that current liabilities now exceed current assets, which may indicate an imminent liquidity crisis. This trend warrants close investigation into the company's ability to manage its working capital and satisfy creditors in the near term.
Distortion from Rising Deferred Revenue
As indicated by recent SEC filings, deferred revenue has surged to $4.2 million in 2026Q1, which may artificially inflate the company's liability profile while masking the underlying difficulty in converting long-term project commitments into immediate, cash-generative operational revenue for the business.
While deferred revenue represents future performance obligations, its growth in the context of declining cash reserves suggests that the company is collecting deposits to fund operations rather than generating profit. This creates a potential mismatch between cash inflows and the actual costs of fulfilling these complex industrial contracts.