The company's financial stability is increasingly fragile, as total assets have contracted from $10.0M in 2024Q3 to $6.5M in 2026Q2 while retained earnings have deepened to -$66.5M.
| Metric | TTM | Aug'25 | Aug'24 | Aug'23 | Aug'22 | Aug'21 | Aug'20 | Aug'19 | Aug'18 | Aug'17 | Aug'16 | Aug'15 | Aug'14 | Oct'12 | Oct'11 | Oct'10 | Oct'09 | Oct'08 | Oct'07 | Oct'06 | Oct'05 |
|---|
| Total Current Assets | 5.77M | 3.47M | 7.9M | 2.2M | 6.98M | 12.44M | 1.93M | 1.82M | 2.28M | 2.8M | 510.17K | 674.73K | 146.27K | 182.33K | 264.23K | 730.32K | 493.29K | 330.54K | 133.99K | 1.3M | 881.77K |
| Cash & Short-Term Investments | 5.27M | 1.97M | 6.56M | 1.48M | 6.16M | 11.75M | 1.31M | 1.35M | 1.74M | 2.53M | 93.41K | 260.07K | 65.54K | 27.53K | 31.2K | 494.44K | 431.39K | 239.66K | 78.06K | 1.29M | 863.56K |
| Cash Only | 5.13M | 1.8M | 6.5M | 1.35M | 5.81M | 10.92M | 1.29M | 1.29M | 1.73M | 2.53M | 93.41K | 260.07K | 65.54K | 27.53K | 31.2K | 494.44K | 431.39K | 239.66K | 78.06K | 1.29M | 863.56K |
| Short-Term Investments | 141.27K | 165.36K | 55.81K | 125.64K | 347.33K | 833.84K | 19.32K | 64.21K | 10.15K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 42.03K | 174K | 154.48K | 175.25K | 201.78K | 342.4K | 313.93K | 273.14K | 265.75K | 45.29K | 131.08K | 31.38K | 79.22K | 151.82K | 290.94K | 231.61K | 57.22K | 90.88K | 15.51K | 38.31K | 0 |
| Days Sales Outstanding | 118.54 | 89.97 | 121.44 | 282.77 | 288.38 | 172.92 | 297.97 | 447.86 | 223.87 | 259.78 | 1.18K | 779.11 | 26.35 | 50.49 | 78.21 | 74.56 | 57.61 | 78.61 | 6.28 | 55.24 | - |
| Inventory | 0 | 0 | 0 | 0 | 38.42K | 29.65K | 116.87K | 127.4K | 87.23K | 67.17K | 134.72K | 167.99K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -17.62K | 0 |
| Days Inventory Outstanding | - | - | - | - | 195.19 | 61.72 | 429.25 | 2.03K | 1.26K | 824.15 | 1.08K | 2.05K | - | 0 | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 194.36K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.51K | 0 | 0 | 0 | 0 | 0 | 0 | 17.62K | 1.73K |
| Total Non-Current Assets | 717.02K | 706.78K | 969.8K | 884.21K | 856.41K | 823.88K | 902.28K | 856.39K | 147.78K | 64.68K | 56.47K | 36.99K | 3.43M | 3.5M | 4.08M | 3.13M | 2.93M | 2.92M | 3.66M | 1.42M | 218.74K |
| Property, Plant & Equipment | 334.95K | 334.94K | 389.55K | 421.59K | 367.95K | 459.25K | 610.28K | 591.26K | 1.24K | 1.86K | 2.48K | 0 | 3.43M | 3.5M | 4.04M | 3.13M | 2.93M | 2.92M | 3.66M | 1.42M | 218.74K |
| Fixed Asset Turnover | 1.10x | 2.11x | 1.19x | 0.54x | 0.69x | 1.57x | 0.63x | 0.38x | 350.27x | 34.29x | 16.45x | - | 0.32x | 0.31x | 0.34x | 0.36x | 0.12x | 0.14x | 0.25x | 0.18x | 0.09x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 318.06K | 307.82K | 516.68K | 462.63K | 488.46K | 364.62K | 292K | 265.13K | 146.54K | 62.83K | 54K | 36.99K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 64.01K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 67.66K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 64.01K | 63.58K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -67.66K | 0 | 33.09K | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 6.49M | 4.18M | 8.87M | 3.08M | 7.83M | 13.27M | 2.83M | 2.68M | 2.43M | 2.86M | 566.64K | 711.72K | 3.57M | 3.68M | 4.34M | 3.86M | 3.42M | 3.25M | 3.8M | 2.72M | 1.1M |
| Asset Turnover | 0.06x | 0.17x | 0.05x | 0.07x | 0.03x | 0.05x | 0.14x | 0.08x | 0.18x | 0.02x | 0.07x | 0.02x | 0.31x | 0.30x | 0.31x | 0.29x | 0.11x | 0.13x | 0.24x | 0.09x | 0.02x |
| Asset Growth % | -149.09% | -52.92% | 187.54% | -60.63% | -40.95% | 369.08% | 5.72% | 10.01% | -14.98% | 404.76% | -20.38% | -80.08% | -2.98% | -15.13% | 12.28% | 13.06% | 5.18% | -14.38% | 39.59% | 147.09% | - |
| Total Current Liabilities | 214.67K | 1.49M | 1.1M | 267.74K | 194.04K | 153.28K | 225.92K | 184.51K | 43.64K | 92.35K | 433.88K | 55.13K | 1.42M | 1.4M | 1.08M | 876.74K | 1.14M | 25.61K | 400.98K | 2.01M | 11.18K |
| Accounts Payable | 36.2K | 1.37M | 1.06M | 225.04K | 120.15K | 104.89K | 45.08K | 31.46K | 14.38K | 32.57K | 90.01K | 33.07K | 93.55K | 136.27K | 67.04K | 322.31K | 137.44K | 0 | 2.69K | 19.39K | 1.69K |
| Days Payables Outstanding | - | 183.18K | 80.08K | 2.61K | 610.42 | 218.34 | 165.57 | 501.64 | 208.38 | 399.65 | 720.24 | 403.96 | 42.94 | 62.55 | 31.24 | 176.15 | 183.34 | - | 1.08 | 56.68 | 6.6 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 7.93K | 0 | 0 | 0 | 0 | 0 | 0 | 1.28M | 1.28M | 1.64M | 754.5K | 910.44K | 788.79K | 272.51K | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 4.96K | 0 | 0 | 0 | 44.26K | 0 | 0 | 17.08K | 12.5K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 146.42K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -452.68K | 0 | 0 | 0 | 0 | 0 | 1.77K | 320.69K | 13.24K |
| Current Ratio | 26.88x | 2.32x | 7.18x | 8.22x | 35.96x | 81.18x | 8.53x | 9.86x | 52.34x | 30.27x | 1.18x | 12.24x | 0.10x | 0.13x | 0.24x | 0.83x | 0.43x | 12.91x | 0.33x | 0.64x | 78.91x |
| Quick Ratio | 26.88x | 2.32x | 7.18x | 8.22x | 35.76x | 80.99x | 8.01x | 9.17x | 50.34x | 29.54x | 0.87x | 9.19x | 0.10x | 0.13x | 0.24x | 0.83x | 0.43x | 12.91x | 0.33x | 0.65x | 78.91x |
| Cash Conversion Cycle | 118.54 | - | - | - | -126.85 | 16.3 | 561.65 | 1.98K | 1.28K | 684.28 | 1.53K | 2.43K | - | -12.06 | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 62.33K | 78.9K | 109.32K | 136.17K | 7.4K | 49.99K | 120.06K | 0 | 0 | 0 | 45K | 0 | 59.24K | 59.24K | 59.24K | 599.44K | 75K | 0 | 723.86K | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 30.67K | 0 | 0 | 0 | 45K | 0 | 0 | 0 | 0 | 599.44K | 75K | 0 | 723.86K | 0 | 0 |
| Capital Lease Obligations | 298.76K | 78.9K | 109.32K | 136.17K | 7.4K | 49.99K | 89.39K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 59.24K | 59.24K | 59.24K | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 277K | 1.57M | 1.21M | 403.91K | 201.44K | 203.26K | 345.98K | 184.51K | 43.64K | 92.35K | 478.88K | 55.13K | 1.47M | 1.46M | 1.68M | 1.48M | 1.21M | 788.18K | 400.98K | 2.01M | 11.18K |
| Total Debt | 94.39K | 109.32K | 137.37K | 163.97K | 49.99K | 97.32K | 156.1K | 0 | 7.86K | 42.69K | 45K | 0 | 1.28M | 1.3M | 1.35M | 1.38M | 897.29K | 775.45K | 50K | 1.99M | 0 |
| Net Debt | -5.03M | -1.69M | -6.36M | -1.19M | -5.76M | -10.82M | -1.14M | -1.29M | -1.72M | -2.49M | -48.41K | -260.07K | 1.21M | 1.27M | 1.32M | 887.65K | 465.9K | 535.78K | -28.06K | 701.46K | -863.56K |
| Debt / Equity | 0.02x | 0.04x | 0.02x | 0.06x | 0.01x | 0.01x | 0.06x | - | 0.00x | 0.02x | 0.51x | - | 0.61x | 0.58x | 0.51x | 0.58x | 0.41x | 0.31x | 0.01x | 2.82x | - |
| Debt / EBITDA | -0.01x | - | - | - | - | - | - | - | - | - | - | - | 0.70x | 4.86x | 3.00x | 12.44x | - | - | - | - | - |
| Net Debt / EBITDA | 0.54x | - | - | - | - | - | - | - | - | - | - | - | 0.67x | 4.76x | 2.93x | 7.99x | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - | - | - | -319.78x | -566.67x | -61.87x | -5.69x | - | -0.06x | -1.55x | -2.41x | -0.69x | -104.65x | -47.93x | -9.66x |
| Total Equity | 6.21M | 2.6M | 7.66M | 2.68M | 7.63M | 13.06M | 2.48M | 2.49M | 2.39M | 2.77M | 87.76K | 656.6K | 2.1M | 2.23M | 2.66M | 2.39M | 2.21M | 2.46M | 3.39M | 704.55K | 1.09M |
| Equity Growth % | -173% | -66.02% | 185.78% | -64.89% | -41.57% | 426.28% | -0.34% | 4.29% | -13.72% | 3053.97% | -86.63% | -68.72% | -5.67% | -16.39% | 11.42% | 8.32% | -10.43% | -27.48% | 381.85% | -35.32% | - |
| Book Value per Share | 0.25 | 0.14 | 0.62 | 0.41 | 1.30 | 2.97 | 0.90 | 0.96 | 1.01 | 1.41 | 0.06 | 0.50 | 0.08 | 3.69 | 5.40 | 5.29 | 8.21 | 11.23 | 16.76 | 4.38 | 6.81 |
| Total Shareholders' Equity | 6.6M | 2.99M | 8.04M | 3.04M | 7.95M | 13.27M | 2.53M | 2.38M | 2.39M | 3.01M | 266.05K | 772.41K | 2.1M | 2.23M | 2.66M | 2.39M | 2.21M | 2.46M | 3.39M | 704.55K | 1.09M |
| Common Stock | 24.89K | 19.56K | 15.81K | 8.09K | 5.95K | 5.73K | 3K | 78.79K | 75.53K | 67.98K | 51.29K | 39.85K | 16.43K | 16.43K | 16.43K | 15.63K | 12.85K | 10.64K | 23.76K | 17.58K | 16.88K |
| Retained Earnings | -66.51M | -63.46M | -51.56M | -45.76M | -39.1M | -31.83M | -27.8M | -23.87M | -19.77M | -13.17M | -11.3M | -10.09M | -5.06M | -4.93M | -4.46M | -4.46M | -3.85M | -3.2M | -1.64M | -583.98K | -75.72K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -55.44K | -70.33K | -19.82K | 0 | 0 | 0 | 0 | 0 | -14.25K | 0 | 0 | 0 | -35.2K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -392.19K | -386.94K | -377.35K | -364.04K | -316.41K | -202.09K | -42.94K | 107.67K | 0 | -238.48K | -178.29K | -115.81K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution
As reported in financial statements, Lexaria's total assets have declined from a peak of $10.0M in 2024Q3 to $6.5M in 2026Q2, reflecting a consistent contraction in the company's resource base as it consumes capital to fund ongoing research and development without achieving commercial scale.
The downward trend in total assets suggests that the company is struggling to replenish its balance sheet through organic growth or successful licensing milestones. This trajectory implies that the firm is becoming increasingly reliant on external capital markets to maintain its operational footprint.
Based on recent SEC filings, Lexaria's cash position has fluctuated significantly, dropping to $1.8M in 2025Q4 before recovering to $5.1M in 2026Q2, yet this volatility highlights a precarious reliance on periodic financing rounds to sustain its high-burn clinical trial operations.
While the current ratio of 26.88 appears superficially strong, it is heavily skewed by the timing of cash inflows from equity raises rather than operational liquidity. Investors should monitor the burn rate closely, as the lack of recurring revenue makes the company highly sensitive to capital market conditions.
According to historical balance sheet data, Lexaria's equity base has been subject to significant volatility, with retained earnings deepening to -$66.5M as of 2026Q2, indicating that the company's primary method of funding its operations is through the continuous issuance of equity to shareholders.
The persistent accumulation of negative retained earnings underscores the difficulty the company faces in reaching a self-sustaining business model. This reliance on equity financing suggests that existing shareholders may face ongoing dilution as the firm seeks to bridge the gap between its current R&D phase and potential commercialization.
As evidenced by the reported $318.1K in goodwill as of 2026Q2, there is a non-trivial risk that these intangible assets may require impairment if the company's clinical trials fail to yield the expected commercial outcomes for its proprietary drug delivery platform.
The presence of goodwill on the balance sheet warrants further investigation, as it may represent historical acquisition costs that no longer align with the current market valuation of the technology. If the company's patent portfolio fails to generate meaningful licensing revenue, these assets could become a source of future write-downs.
Quick answers to the most common questions about buying LEXX stock.
As of 2025, Lexaria Bioscience Corp. (LEXX) had total assets of $4.2M including $3.5M in current assets.
Lexaria Bioscience Corp. (LEXX) carries total debt of $0.1M, offset by $2.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Lexaria Bioscience Corp. (LEXX) has total shareholders' equity (book value) of $3.0M ($0.14 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Lexaria Bioscience Corp. (LEXX) reported a current ratio of 2.32x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.