The company's financial position is increasingly vulnerable, with total assets contracting from $29.9M in 2024Q3 to $21.2M in 2026Q1, while retained earnings have deteriorated to -$137.0M.
| Total Current Assets | 16.86M | 5.45M | 19.62M | 5.85M | 20.28M | 35.38M | 1.85M | 2.37M | 4.16M |
| Cash & Short-Term Investments | 15.76M | 4.66M | 19.23M | 5.36M | 19.66M | 35.04M | 816K | 1.87M | 4.03M |
| Cash Only | 15.76M | 4.66M | 19.23M | 4.95M | 10.5M | 25.66M | 816K | 1.87M | 4.03M |
| Short-Term Investments | 0 | 0 | 0 | 412K | 9.15M | 9.38M | 0 | 0 | 0 |
| Accounts Receivable | 68K | 104K | 84K | 111K | 218K | 55K | 420K | 451.46K | 0 |
| Days Sales Outstanding | 19.14 | 31.66 | 12.82 | 57.14 | 65.11 | 15.37 | 27.23 | 29.27 | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 1.03M | 686K | 308K | 376K | 404K | 0 | 561K | 0 | 0 |
| Total Non-Current Assets | 4.36M | 4.81M | 5.93M | 6.23M | 7.13M | 7.39M | 7.39M | 8.21M | 6.36M |
| Property, Plant & Equipment | 2.1M | 2.35M | 3.33M | 3.75M | 4.48M | 4.88M | 5.67M | 6.48M | 4.76M |
| Fixed Asset Turnover | 0.48x | 0.51x | 0.72x | 0.19x | 0.27x | 0.27x | 0.99x | 0.87x | 0.45x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 2.24M | 2.29M | 2.4M | 2.29M | 2.41M | 2.33M | 1.55M | 1.48M | 1.35M |
| Long-Term Investments | 100K | 100K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 18K | 76K | 202K | 193K | 244K | 177K | 177K | 250.89K | 250.89K |
| Total Assets | 21.21M | 10.26M | 25.56M | 12.08M | 27.41M | 42.77M | 9.24M | 10.58M | 10.52M |
| Asset Turnover | 0.08x | 0.12x | 0.09x | 0.06x | 0.04x | 0.03x | 0.61x | 0.53x | 0.20x |
| Asset Growth % | -119.74% | -59.85% | 111.61% | -55.94% | -35.9% | 362.84% | -12.7% | 0.6% | - |
| Total Current Liabilities | 4.34M | 4.09M | 2.58M | 3.89M | 4.87M | 2.71M | 3.83M | 2.49M | 1.86M |
| Accounts Payable | 293K | 423K | 99K | 638K | 1.75M | 645K | 1.59M | 1.15M | 1.21M |
| Days Payables Outstanding | 537.17 | 389.89 | 71.13 | 477.19 | 881.54 | 328.81 | 152.6 | 110.82 | 302.57 |
| Short-Term Debt | 688K | 655K | 0 | 0 | 0 | 0 | 177K | 0 | 0 |
| Deferred Revenue (Current) | 182K | 40K | 40K | 506K | 506K | 199K | 10K | 541.79K | 405K |
| Other Current Liabilities | 3.26M | 2.97M | 0 | 0 | 1.4M | 0 | 0 | 0 | 209.26K |
| Current Ratio | 3.88x | 1.33x | 7.60x | 1.50x | 4.17x | 13.06x | 0.48x | 0.95x | 2.24x |
| Quick Ratio | 3.88x | 1.33x | 7.60x | 1.50x | 4.17x | 13.06x | 0.48x | 0.95x | 2.24x |
| Cash Conversion Cycle | -518.03 | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 838K | 499K | 1.09M | 1.45M | 2.04M | 2.6M | 3.45M | 3.65M | 1.84M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 311K | 0 | 0 |
| Capital Lease Obligations | 1.07M | 169K | 824K | 1.45M | 2.04M | 2.6M | 3.14M | 3.65M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 778K | 330K | 265K | 0 | 0 | 0 | 0 | 0 | 1.84M |
| Total Liabilities | 5.18M | 4.59M | 3.67M | 5.34M | 6.91M | 5.31M | 7.28M | 6.14M | 3.71M |
| Total Debt | 748K | 824K | 1.45M | 2.04M | 2.6M | 3.14M | 4.14M | 4.14M | 0 |
| Net Debt | -15.01M | -3.84M | -17.79M | -2.91M | -7.9M | -22.52M | 3.33M | 2.27M | -4.03M |
| Debt / Equity | 0.05x | 0.15x | 0.07x | 0.30x | 0.13x | 0.08x | 2.12x | 0.93x | - |
| Debt / EBITDA | -0.03x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.68x | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | -4260.25x | -567.80x | -21977.91x | - |
| Total Equity | 16.03M | 5.67M | 21.89M | 6.74M | 20.5M | 37.45M | 1.96M | 4.45M | 6.81M |
| Equity Growth % | -156.9% | -74.07% | 224.68% | -67.12% | -45.26% | 1813.8% | -55.97% | -34.77% | - |
| Book Value per Share | 0.65 | 0.32 | 1.47 | 3.10 | 9.78 | 19.80 | 1.16 | 2.78 | 4.28 |
| Total Shareholders' Equity | 16.03M | 5.67M | 21.89M | 6.74M | 20.5M | 37.45M | 1.96M | 4.45M | 6.81M |
| Common Stock | 30K | 22K | 14K | 2K | 21K | 21K | 1.96M | 0 | 7.11M |
| Retained Earnings | -137.05M | -132.31M | -109.61M | -84.98M | -62.77M | -43.94M | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | -357K | 0 | 0 | 0 | -1.39M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution
As reported in recent financial statements, Longeveron's total assets have declined from a peak of $29.9M in 2024Q3 to $21.2M in 2026Q1, reflecting a persistent consumption of capital that underscores the company's precarious position as it attempts to advance its clinical pipeline without commercial revenue.
The consistent contraction in total assets suggests that the company is depleting its primary resources to fund ongoing R&D activities. This downward trajectory in asset value, coupled with the lack of offsetting revenue growth, implies that the current business model is unsustainable without frequent external capital injections.
Based on the provided quarterly data, cash and equivalents plummeted from $22.8M in 2024Q3 to $15.8M in 2026Q1, with the current ratio fluctuating significantly, indicating that the company's ability to cover short-term obligations is increasingly dependent on the timing of external financing rather than operational cash generation.
The volatility in the current ratio, which dropped as low as 0.71 in 2024Q1, highlights a recurring liquidity risk that investors should monitor closely. The rapid depletion of cash reserves suggests that the company may face a critical funding gap in the near term, potentially necessitating dilutive equity raises.
According to historical balance sheet data, retained earnings have deteriorated to -$137.0M as of 2026Q1, a trend that reflects the substantial and persistent losses incurred by the company while attempting to commercialize its proprietary cell therapy platform through high-cost clinical trials.
The deep negative balance in retained earnings is a clear indicator of the significant capital required to sustain the company's research-heavy business model. This erosion of equity quality suggests that shareholders are bearing the full brunt of the company's pre-commercial status, with little prospect for near-term value creation.
As indicated by the balance sheet, goodwill remains relatively stable at $2.2M, which warrants further investigation as it represents a non-trivial portion of total assets that could be subject to impairment if clinical trial outcomes for LOMECEL-B fail to meet regulatory or market expectations.
While the goodwill figure appears modest, its presence on the balance sheet for a clinical-stage biotech firm is a potential distortion that may mask the true economic value of the company's assets. Investors should consider the risk that these intangible assets may not provide the expected future economic benefits.
Quick answers to the most common questions about buying LGVN stock.
As of 2025, Longeveron Inc. (LGVN) had total assets of $10.3M including $5.5M in current assets.
Longeveron Inc. (LGVN) carries total debt of $0.8M, offset by $4.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Longeveron Inc. (LGVN) has total shareholders' equity (book value) of $5.7M ($0.32 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Longeveron Inc. (LGVN) reported a current ratio of 1.33x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.