The company's financial stability appears fragile, with retained earnings deteriorating to -$35.6M as of 2026Q3 and the emergence of $1.2M in goodwill introducing new intangible asset risks.
| Total Current Assets | 22.23M | 6.66M | 4.66M | 6.51M | 4.13M | 3.26M | 3.4M | 4.2M | 55.07K |
| Cash & Short-Term Investments | 11.48M | 794.84K | 986.43K | 2M | 330.38K | 425.68K | 1.31M | 3.14M | 55.07K |
| Cash Only | 11.48M | 794.84K | 986.43K | 2M | 330.38K | 425.68K | 1.31M | 3.14M | 55.07K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 7.54M | 2.98M | 1.81M | 1.83M | 1.32M | 1.13M | 391.11K | 0 | 0 |
| Days Sales Outstanding | 106.28 | 129.24 | 249.21 | 192.9 | 107.52 | 85.39 | 70.96 | - | - |
| Inventory | 2.19M | 2.14M | 1.79M | 2.58M | 2.24M | 1.66M | 1.55M | 993.91K | 0 |
| Days Inventory Outstanding | 48.4 | 112.76 | 305.6 | 340.31 | 214.63 | 145.29 | 319.76 | - | - |
| Other Current Assets | 1.01M | 748.04K | 76.81K | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 3.43M | 140.54K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Property, Plant & Equipment | 1.07M | 140.54K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | 31.90x | 59.96x | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 1.18M | 140.54K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.18M | -140.54K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 25.66M | 6.81M | 4.66M | 6.51M | 4.13M | 3.26M | 3.4M | 4.2M | 55.07K |
| Asset Turnover | 1.42x | 1.24x | 0.57x | 0.53x | 1.08x | 1.48x | 0.59x | - | - |
| Asset Growth % | 650.7% | 46.14% | -28.43% | 57.71% | 26.46% | -4.16% | -19.02% | 7532.01% | - |
| Total Current Liabilities | 2.74M | 3.51M | 61.1K | 39.49K | 1.45M | 94.25K | 25.28K | 43.1K | 20.51K |
| Accounts Payable | 727.89K | 689.22K | 5.32K | 0 | 205.6K | 53.51K | 3.66K | 32.06K | 0 |
| Days Payables Outstanding | 12.44 | 36.35 | 0.91 | - | 19.72 | 4.68 | 0.75 | - | - |
| Short-Term Debt | 713.45K | 2.6M | 0 | 0 | 1.07M | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio | 8.10x | 1.90x | 76.21x | 164.74x | 2.84x | 34.61x | 134.62x | 97.51x | 2.69x |
| Quick Ratio | 7.30x | 1.29x | 46.96x | 99.40x | 1.30x | 16.98x | 73.19x | 74.45x | 2.69x |
| Cash Conversion Cycle | 142.24 | 205.65 | 553.9 | - | 302.43 | 226 | 389.97 | - | - |
| Total Non-Current Liabilities | 738.16K | 383.54K | 0 | 0 | 53.72K | 19.31K | 44.04K | 2.51K | 104.7K |
| Long-Term Debt | 0 | 383.54K | 0 | 0 | 53.72K | 19.31K | 44.04K | 2.51K | 104.7K |
| Capital Lease Obligations | 769.09K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 738.16K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 3.48M | 3.9M | 61.1K | 39.49K | 1.51M | 113.56K | 69.32K | 45.61K | 125.21K |
| Total Debt | 713.45K | 3.13M | 0 | 0 | 1.12M | 19.31K | 44.04K | 2.51K | 104.7K |
| Net Debt | -10.77M | 2.33M | -986.43K | -2M | 791.33K | -406.37K | -1.27M | -3.14M | 49.63K |
| Debt / Equity | 0.03x | 1.07x | - | - | 0.43x | 0.01x | 0.01x | 0.00x | - |
| Debt / EBITDA | -0.08x | - | - | - | - | - | 14679.00x | 835.33x | - |
| Net Debt / EBITDA | 1.19x | - | - | - | - | - | -421755.67x | -999999.00x | - |
| Interest Coverage | -10.88x | -14.71x | - | -637.57x | -116.17x | -310.81x | -56.58x | -59.66x | - |
| Total Equity | 22.18M | 2.91M | 4.6M | 6.47M | 2.62M | 3.15M | 3.33M | 4.16M | -70.14K |
| Equity Growth % | 449.33% | -36.68% | -28.93% | 147.07% | -16.88% | -5.57% | -19.79% | 6027.54% | - |
| Book Value per Share | 0.55 | 0.09 | 0.14 | 0.20 | 0.13 | 0.18 | 0.27 | 0.99 | -0.67 |
| Total Shareholders' Equity | 22.18M | 2.91M | 4.6M | 6.47M | 2.62M | 3.15M | 3.33M | 4.16M | -70.14K |
| Common Stock | 42.71K | 34.13K | 33.24K | 33.16K | 21.98K | 19.64K | 14.42K | 11.52K | 260 |
| Retained Earnings | -35.59M | -25.78M | -20.74M | -18.44M | -15.8M | -10.04M | -2.39M | -937.89K | -101.79K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and capital exhaustion
As reported in recent SEC filings, NeoVolta's total assets have fluctuated significantly, reaching $25.7M in 2026Q3 from a low of $4.0M in 2025Q2, which suggests that the company's asset base is highly sensitive to capital injections rather than organic growth from internal operations.
The rapid expansion of the asset base appears to be driven by external financing rather than sustainable business accumulation. Investors should monitor whether this asset growth can be converted into productive capacity or if it merely reflects temporary cash holdings that will be depleted by ongoing operating losses.
Based on the company's reported figures, the current ratio has experienced extreme volatility, swinging from a high of 482.22 in 2024Q2 to a low of 1.47 in 2026Q1, indicating that the company lacks a stable liquidity cushion to manage its ongoing operational cash burn.
The dramatic contraction in the current ratio suggests that the company's ability to cover short-term obligations is heavily dependent on the timing of capital raises. This instability warrants further investigation into the company's working capital management, as the current liquidity profile appears insufficient to support sustained growth without further dilution.
According to financial statements, retained earnings have deteriorated to -$35.6M as of 2026Q3, reflecting a persistent inability to generate positive net income, which suggests that shareholder equity is being eroded by continuous operational deficits rather than being bolstered by profitable business activities.
The accumulation of negative retained earnings highlights the structural challenges the company faces in reaching profitability. Shareholders should be aware that the current equity position is largely a function of external capital infusions rather than value creation, which may necessitate further dilutive equity offerings.
As indicated by the provided data, the emergence of $1.2M in goodwill by 2026Q3, where none existed previously, suggests that recent inorganic activities or acquisitions may be introducing intangible risks that could require future impairment charges if the underlying business performance does not improve.
The sudden appearance of goodwill on the balance sheet is a non-obvious risk factor that complicates the assessment of asset quality. Investors should monitor whether these intangible assets are supported by actual cash-generating capabilities or if they represent an overpayment for assets that fail to contribute to operational success.
Quick answers to the most common questions about buying NEOV stock.
As of 2025, NeoVolta Inc. (NEOV) had total assets of $6.8M including $6.7M in current assets.
NeoVolta Inc. (NEOV) carries total debt of $3.1M, offset by $0.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
NeoVolta Inc. (NEOV) has total shareholders' equity (book value) of $2.9M ($0.09 book value per share). Book value represents the net worth of the company belonging to common stock holders.
NeoVolta Inc. (NEOV) reported a current ratio of 1.90x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.