The company's financial stability is under pressure, as evidenced by a contraction in net equity to $6.0 million and a precarious current ratio of 1.32 as of 2024Q4.
| Total Current Assets | 7.84M | 8.98M | 18.38M | 9.61M | 186.4K | 260.01K |
| Cash & Short-Term Investments | 6.24M | 7.07M | 17.14M | 8.73M | 122.57K | 203.59K |
| Cash Only | 6.24M | 7.07M | 17.14M | 8.73M | 122.57K | 203.59K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 213.75K | 354.51K | 259.14K | 17.76K | 44.24K | 40.8K |
| Days Sales Outstanding | 87.27 | 144.5 | 178.5 | 11.23 | 32.72 | 52.92 |
| Inventory | 372.87K | 613.64K | 175.47K | 0 | 0 | 0 |
| Days Inventory Outstanding | 426.49 | 580.52 | 184.19 | - | - | - |
| Other Current Assets | 127.29K | 135.06K | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 5.39M | 6.43M | 1.86M | 431.59K | 486.87K | 455.95K |
| Property, Plant & Equipment | 2.38M | 3.03M | 1.84M | 431.59K | 486.87K | 455.95K |
| Fixed Asset Turnover | 0.38x | 0.30x | 0.29x | 1.34x | 1.01x | 0.62x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 3.02M | 3.39M | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 108 | 23.27K | 0 | 0 | 0 |
| Total Assets | 13.24M | 15.41M | 20.24M | 10.04M | 673.27K | 715.96K |
| Asset Turnover | 0.07x | 0.06x | 0.03x | 0.06x | 0.73x | 0.39x |
| Asset Growth % | -14.09% | -23.87% | 101.59% | 1391.35% | -5.96% | - |
| Total Current Liabilities | 5.95M | 9.24M | 4.24M | 1.35M | 701.95K | 459.71K |
| Accounts Payable | 1.25M | 2.33M | 1.33M | 832.52K | 195.41K | 200.06K |
| Days Payables Outstanding | 1.43K | 2.2K | 1.4K | 760.19 | 192.52 | 213.1 |
| Short-Term Debt | 2.13M | 4.94M | 1.04M | 193.43K | 219.02K | 173.66K |
| Deferred Revenue (Current) | 0 | 138.89K | 199.41K | 0 | 1.51K | 2.5K |
| Other Current Liabilities | 690.58K | 388.84K | 0 | -3.22K | 98.16K | 0 |
| Current Ratio | 1.32x | 0.97x | 4.33x | 7.11x | 0.27x | 0.57x |
| Quick Ratio | 1.26x | 0.91x | 4.29x | 7.11x | 0.27x | 0.57x |
| Cash Conversion Cycle | -920.79 | -1.48K | -1.04K | - | - | - |
| Total Non-Current Liabilities | 1.24M | 2.92M | 1.9M | 2.33M | 2.71M | 2.21M |
| Long-Term Debt | 0 | 1.03M | 943.21K | 1.94M | 2.27M | 1.79M |
| Capital Lease Obligations | 865.98K | 1.17M | 959.12K | 387.77K | 447.44K | 418.14K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 376.1K | 726.98K | 0 | 0 | 0 | 0 |
| Total Liabilities | 7.19M | 12.16M | 6.14M | 3.68M | 3.41M | 2.67M |
| Total Debt | 3.27M | 7.42M | 3.23M | 2.58M | 2.98M | 2.41M |
| Net Debt | -2.96M | 349.86K | -13.91M | -6.15M | 2.86M | 2.21M |
| Debt / Equity | 0.54x | 2.28x | 0.23x | 0.41x | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - |
| Interest Coverage | -17.39x | -32.91x | -91.40x | -28.67x | -2.85x | -4.57x |
| Total Equity | 6.05M | 3.25M | 14.1M | 6.36M | -2.74M | -1.95M |
| Equity Growth % | 86.09% | -76.95% | 121.6% | 332.03% | -40.57% | - |
| Book Value per Share | 6.24 | 0.20 | 1.00 | 0.88 | -0.49 | -0.17 |
| Total Shareholders' Equity | 6.05M | 3.25M | 14.1M | 6.36M | -2.74M | -1.95M |
| Common Stock | 922.13K | 235.82K | 164.9K | 141.07K | 64.27K | 106.11K |
| Retained Earnings | -90.98M | -69.33M | -43.03M | -16.64M | -4.95M | -4.37M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 27.04M | 20.83M | 18.13M | 9.74M | 2.11M | 2.31M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Capital exhaustion and dilution
As reported in recent financial filings, Mainz Biomed's balance sheet trajectory reflects a persistent contraction in net equity, which fell from $23.8 million in 2022Q2 to $6.0 million by 2024Q4, underscoring the company's ongoing struggle to maintain a stable financial foundation amidst continuous operational losses.
The consistent decline in total assets alongside a ballooning accumulated deficit suggests that the company is consuming its capital base to fund clinical development rather than building long-term value. Investors should monitor whether the current trajectory necessitates further dilutive financing to prevent a total depletion of net assets.
Based on the company's 2024Q4 balance sheet, the current ratio of 1.32 indicates a precarious liquidity position, especially when contrasted with the $6.2 million cash balance that remains insufficient to cover the high-burn nature of the firm's ongoing clinical and commercial expansion efforts.
The volatility in the current ratio, which plummeted from 10.83 in 2022Q2 to 1.32, suggests that the company's ability to meet short-term obligations is becoming increasingly dependent on external capital injections. This tightening liquidity buffer may limit management's ability to pivot or respond to unexpected regulatory or market challenges.
According to historical balance sheet data, the company's retained earnings have deteriorated to -$91.0 million as of 2024Q4, a trend that highlights the significant value destruction inherent in the firm's current business model and its heavy reliance on equity-based financing to sustain operations.
The persistent negative retained earnings suggest that the company has yet to achieve a self-sustaining commercial model, forcing a reliance on capital raises that dilute existing shareholders. This structural reliance on equity markets warrants further investigation into the long-term viability of the current cost-to-revenue conversion strategy.
As indicated by the 2024Q4 financial statements, the presence of $3.0 million in goodwill on a total asset base of $13.2 million introduces a non-trivial risk of impairment, particularly if the company fails to achieve its projected commercial milestones in the European diagnostic market.
The inclusion of intangible assets on the balance sheet appears to be a potential distortion, as these values are predicated on future earnings that remain highly speculative. Should the company's clinical or commercial performance continue to underperform, these assets may require write-downs, further pressuring the already strained equity position.
Quick answers to the most common questions about buying MYNZ stock.
As of 2024, Mainz Biomed B.V. (MYNZ) had total assets of $13.2M including $7.8M in current assets.
Mainz Biomed B.V. (MYNZ) carries total debt of $3.3M, offset by $6.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Mainz Biomed B.V. (MYNZ) has total shareholders' equity (book value) of $6.0M ($6.24 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Mainz Biomed B.V. (MYNZ) reported a current ratio of 1.32x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.