The company maintains a conservative capital structure with a debt-to-equity ratio of 0.04, though total equity has eroded from $8.2M to $5.4M over the last three quarters.
| Metric | TTM | Sep'25 | Sep'24 | Sep'23 | Sep'22 | Sep'21 | Sep'20 | Sep'19 | Sep'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|
| Total Current Assets | 7.38M | 10.23M | 4.63M | 7.31M | 12.18M | 7.29M | 4.16M | 301.75K | 18.64K | 33.61K | 576.04K | 1.84K | 205 | 608 | 1.12K | 13.85K | 9.13K |
| Cash & Short-Term Investments | 2.8M | 6.57M | 1.46M | 5.32M | 11.14M | 6.9M | 4.04M | 260.75K | 13.26K | 26.47K | 522.22K | 0 | 205 | 608 | 1.12K | 13.85K | 9.13K |
| Cash Only | 2.8M | 6.57M | 1.46M | 5.32M | 8.16M | 6.9M | 4.04M | 260.75K | 13.26K | 26.47K | 522.22K | 0 | 205 | 608 | 1.12K | 13.85K | 9.13K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 2.98M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 2.43M | 1.26M | 176.64K | 0 | 33.24K | 48.34K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | 59.64 | 38.16 | 18.67 | - | 70.87 | 99.03 | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | 1.87M | 2.23M | 2.64M | 1.73M | 704.54K | 98.29K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 157.98 | 205.44 | 405.27 | 421.31 | 1.06K | 130.03 | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 22.92K | 142.63K | 0 | 0 | 92.93K | 601 | 0 | 0 | 0 | 0 | 1.84K | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 484.08K | 559.36K | 739.01K | 784.39K | 646.85K | 646.48K | 604.76K | 230.86K | 200.08K | 216.37K | 180.89K | 0 | 0 | 0 | 0 | 0 | 0 |
| Property, Plant & Equipment | 427.37K | 514.42K | 671.75K | 694.81K | 534.95K | 512.28K | 448.24K | 52.03K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | 19.33x | 23.52x | 5.14x | 2.81x | 0.32x | 0.35x | 4.30x | - | - | - | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 33.79K | 44.95K | 67.26K | 89.58K | 111.89K | 134.21K | 156.52K | 178.84K | 200.08K | 216.37K | 180.89K | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 22.92K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 7.86M | 10.79M | 5.37M | 8.1M | 12.82M | 7.94M | 4.76M | 532.62K | 218.72K | 249.99K | 756.93K | 1.84K | 205 | 608 | 1.12K | 13.85K | 9.13K |
| Asset Turnover | 1.02x | 1.12x | 0.64x | 0.24x | 0.01x | 0.02x | 0.40x | - | - | - | - | 0.40x | 3.77x | 2.05x | 0.82x | 0.39x | 0.13x |
| Asset Growth % | 329.64% | 100.85% | -33.68% | -36.85% | 61.52% | 66.78% | 793.66% | 143.52% | -12.51% | -66.97% | 41082.26% | 796.59% | -66.28% | -45.62% | -91.93% | 51.73% | - |
| Total Current Liabilities | 1.69M | 2.3M | 2.21M | 1.79M | 3.1M | 1.18M | 2.36M | 1.77M | 3.8M | 3.91M | 677.19K | 83.33K | 35.59K | 28.91K | 18.36K | 4.63K | 2.95K |
| Accounts Payable | 934.2K | 1.01M | 1.03M | 685.1K | 927.66K | 528.83K | 762.54K | 1.15M | 221.24K | 0 | 22.36K | 10.86K | 9.97K | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | 61.16 | 93.21 | 158.28 | 167.16 | 1.4K | 699.62 | 3.94K | 15.26K | 3.73K | - | 1.05K | - | - | - | - | - | - |
| Short-Term Debt | 114.61K | 0 | 0 | 0 | 0 | 0 | 1.01M | 0 | 1.68M | 2.42M | 275.2K | 13.62K | 0 | 26.5K | 17K | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 1.46M | 8.62K | 73.43K | 0 | 0 | 0 | 73.76K | 52.65K | 22.63K | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 37.5K | 1.44K | 59.95K | 0 | 0 | 0 | 166.3K | 50.4K | 512.39K | 1.26M | 351.38K | 5.8K | 0 | 0 | 0 | 0 | 0 |
| Current Ratio | 4.37x | 4.44x | 2.09x | 4.08x | 3.93x | 6.17x | 1.76x | 0.17x | 0.00x | 0.01x | 0.85x | 0.02x | 0.01x | 0.02x | 0.06x | 2.99x | 3.09x |
| Quick Ratio | 3.26x | 3.47x | 0.90x | 3.12x | 3.70x | 6.09x | 1.76x | 0.17x | 0.00x | 0.01x | 0.85x | 0.02x | 0.01x | 0.02x | 0.06x | 2.99x | 3.09x |
| Cash Conversion Cycle | 156.45 | 150.39 | 265.65 | - | -265.71 | -470.56 | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 801.87K | 1.41M | 2.33M | 55.28K | 119.56K | 202.9K | 337.66K | 0 | 817.15K | 1.38M | 345.96K | 0 | 0 | 0 | 0 | 12.5K | 10.5K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 521.23K | 143.15K | 194.39K | 55.28K | 119.56K | 202.9K | 254.33K | 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 |
| Other Non-Current Liabilities | 709.51K | 1.27M | 2.14M | 0 | 0 | 0 | 83.33K | 0 | 817.15K | 1.38M | 345.96K | 0 | 0 | 0 | 0 | 12.5K | 10.5K |
| Total Liabilities | 2.49M | 3.71M | 4.55M | 1.85M | 3.22M | 1.38M | 2.69M | 1.77M | 4.61M | 5.29M | 1.02M | 83.33K | 35.59K | 28.91K | 18.36K | 17.13K | 13.45K |
| Total Debt | 206.97K | 266.81K | 260.16K | 184.4K | 202.9K | 315.67K | 1.32M | 0 | 1.68M | 2.42M | 275.2K | 13.62K | 0 | 26.5K | 17K | 0 | 0 |
| Net Debt | -2.6M | -6.3M | -1.2M | -5.14M | -7.96M | -6.59M | -2.72M | -260.75K | 1.66M | 2.39M | -247.02K | 13.62K | -205 | 25.89K | 15.88K | -13.85K | -9.13K |
| Debt / Equity | 0.04x | 0.04x | 0.32x | 0.03x | 0.02x | 0.05x | 0.64x | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | -0.03x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.38x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | 21.31x | -9.79x | -52.79x | - | - | -3257.49x | -0.65x | -20.43x | - | -2.20x | - | -2.21x | -108.83x | -4.59x | -60.50x | -155.84x | - |
| Total Equity | 5.37M | 7.07M | 822.01K | 6.25M | 9.6M | 6.55M | 2.07M | -1.24M | -4.4M | -5.04M | -266.22K | -81.49K | -35.39K | -28.3K | -17.24K | -3.28K | -4.32K |
| Equity Growth % | 1427.31% | 760.39% | -86.85% | -34.93% | 46.54% | 217.2% | 266.95% | 71.85% | 12.72% | -1791.9% | -226.68% | -130.27% | -25.06% | -64.17% | -426% | 24.2% | - |
| Book Value per Share | 0.63 | 1.06 | 0.18 | 2.07 | 3.60 | 3.68 | 2.29 | -1.88 | -9.40 | -13.72 | -0.94 | -0.29 | -0.13 | -0.10 | -0.06 | -0.01 | -0.02 |
| Total Shareholders' Equity | 5.37M | 7.07M | 822.01K | 6.25M | 9.6M | 6.55M | 2.07M | -1.24M | -4.4M | -5.04M | -266.22K | -81.49K | -35.39K | -28.3K | -17.24K | -3.28K | -4.32K |
| Common Stock | 8.62K | 50.01K | 30.82K | 23.93K | 16.22K | 12.01K | 22.18K | 13.49K | 9.66K | 7.87K | 31 | 5.07K | 5.07K | 5.07K | 5.07K | 5.07K | 4.5K |
| Retained Earnings | -82.13M | -78.61M | -75M | -62.69M | -50.83M | -40.83M | -30.88M | -17.24M | -10.46M | -5.32M | -266.37K | -180.05K | -117.19K | -77.95K | -50.39K | -36.43K | -8.82K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and dilution risk
As reported in recent financial filings, NMTC's total equity has declined from $8.2M in 2025Q3 to $5.4M by 2026Q2, reflecting a persistent erosion of the capital base as the company continues to fund its commercial expansion through ongoing operational losses rather than internal cash generation.
The downward trend in equity suggests that the company is consuming its capital base to support R&D and market penetration efforts. Investors should monitor whether this trajectory stabilizes as the company attempts to transition toward higher-margin therapeutic ablation products.
Based on the company's reported figures, cash reserves have fluctuated significantly, dropping from a peak of $8.0M in 2025Q3 to $2.8M in 2026Q2, which indicates a narrowing buffer against the company's ongoing quarterly cash burn and limited room for operational error.
While the current ratio of 4.37 appears superficially healthy, the absolute cash balance is low relative to the company's historical operating expenses. This liquidity profile suggests that the company may be forced to seek external financing in the near term to maintain its current commercial trajectory.
According to financial statements, NMTC maintains a conservative debt-to-equity ratio of 0.04 as of 2026Q2, suggesting that the company has avoided significant debt financing, likely due to the high cost of capital for pre-profitability medical device firms and the lack of stable cash flows.
The low debt load indicates that the company is not currently burdened by interest obligations, which is appropriate given its negative operating margins. However, this reliance on equity-based funding models leaves shareholders exposed to significant dilution risk as the company seeks to bridge its funding gaps.
As indicated by the balance sheet, the company's asset base is heavily weighted toward cash and minimal tangible assets, with net PPE of $427.4K as of 2026Q2, which highlights the company's reliance on outsourced or limited-scale manufacturing rather than a robust, capital-intensive infrastructure.
The lack of significant tangible assets suggests that the company's value is almost entirely tied to its intellectual property and the success of its distribution partnership. This asset-light model, while efficient for scaling, leaves the company highly vulnerable to any disruption in its manufacturing yield or the Zimmer Biomet distribution relationship.
Quick answers to the most common questions about buying NMTC stock.
As of 2025, NeuroOne Medical Technologies Corporation (NMTC) had total assets of $10.8M including $10.2M in current assets.
NeuroOne Medical Technologies Corporation (NMTC) carries total debt of $0.3M, offset by $6.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
NeuroOne Medical Technologies Corporation (NMTC) has total shareholders' equity (book value) of $7.1M ($1.06 book value per share). Book value represents the net worth of the company belonging to common stock holders.
NeuroOne Medical Technologies Corporation (NMTC) reported a current ratio of 4.44x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.