The company's financial position is increasingly vulnerable, with accumulated losses reaching $346.7 million as of 2026Q1 and total assets contracting by approximately 42% since 2023Q4.
Nautilus Biotechnolgy, Inc. (NAUT) balance sheet — 8-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 |
|---|
| Total Current Assets | 87.63M | 105.96M | 132.83M | 176.84M | 187.21M | 349.22M | 77.66M | 16.96M | 1.33M |
| Cash & Short-Term Investments | 84.03M | 103.41M | 129.89M | 173.42M | 184.47M | 345.73M | 76.74M | 16.66M | 144.49B |
| Cash Only | 13.17M | 12.39M | 27.65M | 19.4M | 114.52M | 185.62M | 36.61M | 595K | 1.2M |
| Short-Term Investments | 70.86M | 91.02M | 102.25M | 154.02M | 69.95M | 160.11M | 40.13M | 16.06M | 144.49B |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 2.56M | 2.93M | 3.42M | 2.74M | 0 | 0 | 0 | -144.49B |
| Total Non-Current Assets | 75.95M | 85.15M | 109.92M | 128.73M | 162.84M | 49.23M | 7.35M | 1.58M | 144.49M |
| Property, Plant & Equipment | 29.62M | 31.23M | 32.33M | 36.9M | 32.57M | 31.86M | 6.21M | 1.12M | 0 |
| Fixed Asset Turnover | 0.01x | - | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 182.46M | 52.74M | 76.41M | 90.65M | 129.17M | 16.37M | 0 | 0 | 144.49M |
| Other Non-Current Assets | 1.18M | 1.18M | 1.18M | 1.18M | 1.11M | 997K | 1.14M | 459K | 0 |
| Total Assets | 163.58M | 191.11M | 242.74M | 305.56M | 350.05M | 398.45M | 85.01M | 18.54M | 145.82M |
| Asset Turnover | 0.00x | - | - | - | - | - | - | - | - |
| Asset Growth % | -89.1% | -21.27% | -20.56% | -12.71% | -12.15% | 368.7% | 358.48% | -87.28% | - |
| Total Current Liabilities | 8.64M | 7.95M | 7.63M | 9.12M | 6.79M | 5.81M | 3.02M | 490K | 5K |
| Accounts Payable | 1.09M | 943K | 987K | 1.64M | 1.27M | 1.72M | 470K | 289K | 0 |
| Days Payables Outstanding | 193.95 | 53.24 | 56.71 | 104.86 | - | 221.29 | 73.12 | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 2.7M | 1.86M | 2.97M | 438K | 388K | 617K | 77K | 5K |
| Current Ratio | 10.14x | 13.33x | 17.40x | 19.39x | 27.57x | 60.09x | 25.73x | 34.62x | 266.45x |
| Quick Ratio | 10.14x | 13.33x | 17.40x | 19.39x | 27.57x | 60.09x | 25.73x | 34.62x | 266.45x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 23.82M | 26.19M | 26.38M | 31.09M | 28.34M | 29.06M | 111.71M | 275M | 5M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 275M | 5M |
| Capital Lease Obligations | 97.83M | 26.19M | 26.38M | 31.09M | 28.34M | 29.06M | 3.3M | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 108.42M | 0 | 0 |
| Total Liabilities | 32.46M | 34.14M | 34.01M | 40.21M | 35.13M | 34.87M | 114.73M | 490K | 140.82M |
| Total Debt | 27.82M | 30.02M | 30.48M | 34.63M | 30.33M | 30.03M | 4.78M | 275M | 5M |
| Net Debt | 14.65M | 17.63M | 2.83M | 15.23M | -84.19M | -155.59M | -31.83M | 274.4M | 3.8M |
| Debt / Equity | 0.21x | 0.19x | 0.15x | 0.13x | 0.10x | 0.08x | - | 15.23x | 1.00x |
| Debt / EBITDA | -0.48x | - | - | - | - | - | - | - | 0.01x |
| Net Debt / EBITDA | -0.25x | - | - | - | - | - | - | - | 0.01x |
| Interest Coverage | - | - | - | - | - | - | - | - | - |
| Total Equity | 131.11M | 156.97M | 208.73M | 265.35M | 314.92M | 363.58M | -29.72M | 18.05M | 5M |
| Equity Growth % | -102.42% | -24.8% | -21.34% | -15.74% | -13.38% | 1323.3% | -264.64% | 261.04% | - |
| Book Value per Share | 1.03 | 1.24 | 1.66 | 2.12 | 2.53 | 4.30 | -0.90 | 2.98 | 0.70 |
| Total Shareholders' Equity | 131.11M | 156.97M | 208.73M | 265.35M | 314.92M | 363.58M | -29.72M | 18.05M | 5M |
| Common Stock | 13K | 13K | 13K | 13K | 12K | 12K | 1K | 1K | 0 |
| Retained Earnings | -361.19M | -332.02M | -273.02M | -202.24M | -138.56M | -80.64M | -30.32M | -14.71M | 626.6K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -331K | 243K | 57K | -255K | -1.85M | -184K | 3K | 7K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying NAUT stock.
As of 2025, Nautilus Biotechnolgy, Inc. (NAUT) had total assets of $191.1M including $106.0M in current assets.
Nautilus Biotechnolgy, Inc. (NAUT) carries total debt of $30.0M, offset by $103.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Nautilus Biotechnolgy, Inc. (NAUT) has total shareholders' equity (book value) of $157.0M ($1.24 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Nautilus Biotechnolgy, Inc. (NAUT) reported a current ratio of 13.33x. 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
Imminent Liquidity and Capital Risk
Metrics are mathematically derived from official filings.
Asset Base Erosion Amidst Development
As reported in financial statements, Nautilus Biotechnology's total assets have contracted from $305.6 million in 2023Q4 to $177.8 million in 2026Q1, reflecting a consistent depletion of resources as the company funds its pre-revenue R&D activities without any offsetting product-driven cash inflows to stabilize the balance sheet.
The steady decline in total assets suggests that the company is consuming its capital base to sustain operations, which may indicate a narrowing window for achieving commercial viability. Investors should monitor whether this trajectory forces a shift toward more dilutive financing options as the asset base continues to shrink.
Critical Cash Runway and Liquidity
Based on recent SEC filings, the company's cash and equivalents have plummeted to $12.4 million as of 2025Q4, a figure that appears dangerously low given the historical quarterly burn rate and the absence of revenue to support ongoing research and development efforts.
The current liquidity position warrants extreme caution, as the cash buffer appears insufficient to support sustained operations through a full commercial launch cycle. This level of liquidity may indicate that the company is approaching a point where external capital infusion is not just strategic, but operationally necessary.
Equity Quality and Retained Losses
According to the provided data, accumulated losses have reached $346.7 million as of 2026Q1, which significantly weighs on the equity base and highlights the substantial capital intensity required to develop the company's proprietary proteomics platform without yet achieving a commercial revenue stream.
The persistent growth in negative retained earnings suggests that the company's equity value is being eroded by ongoing operational losses. This trend may indicate that future equity holders face significant dilution risk if the company is forced to raise capital to offset these mounting historical deficits.
Hidden Risks in Asset Composition
As indicated by the balance sheet, the company holds $30.3 million in net property, plant, and equipment, which may be misleading if these assets are highly specialized and lack secondary market value should the iterative probing platform fail to achieve commercial adoption.
The reliance on specialized nanofabrication equipment suggests that a significant portion of the asset base may be illiquid or difficult to repurpose. This concentration of capital in non-fungible assets may exacerbate the company's vulnerability if the technology fails to gain traction in the competitive proteomics market.