Technical insolvency is indicated by a negative equity position of -$4.3M and a current ratio of 0.79, which highlights that current liabilities exceed current assets.
| Total Current Assets | 16.79M | 13.95M | 3.59M |
| Cash & Short-Term Investments | 4.51M | 4.89M | 2.58M |
| Cash Only | 4.51M | 4.89M | 2.58M |
| Short-Term Investments | 0 | 0 | 0 |
| Accounts Receivable | 372.37K | 445.64K | 650.86K |
| Days Sales Outstanding | 17.96 | 25.42 | 62.99 |
| Inventory | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - |
| Other Current Assets | 9.77M | 8.23M | 359.69K |
| Total Non-Current Assets | 6.53M | 2.08M | 1.86M |
| Property, Plant & Equipment | 4.92M | 939.11K | 1.39M |
| Fixed Asset Turnover | 1.54x | 6.81x | 2.72x |
| Goodwill | 287.29K | 287.29K | 0 |
| Intangible Assets | 391.74K | 383.28K | 245.48K |
| Long-Term Investments | 0 | 0 | 0 |
| Other Non-Current Assets | 930.66K | 469.84K | 228.08K |
| Total Assets | 23.32M | 16.03M | 5.45M |
| Asset Turnover | 0.32x | 0.40x | 0.69x |
| Asset Growth % | 45.49% | 193.93% | - |
| Total Current Liabilities | 21.16M | 18.39M | 11.77M |
| Accounts Payable | 1.69M | 1.8M | 1.18M |
| Days Payables Outstanding | 93.85 | 128.31 | 123.61 |
| Short-Term Debt | 332.97K | 791.13K | 336.24K |
| Deferred Revenue (Current) | 1.74M | 1.27M | 1.27M |
| Other Current Liabilities | 12.44M | 10.67M | 4.96M |
| Current Ratio | 0.79x | 0.76x | 0.31x |
| Quick Ratio | 0.79x | 0.76x | 0.31x |
| Cash Conversion Cycle | - | - | - |
| Total Non-Current Liabilities | 6.46M | 4.02M | 2.97M |
| Long-Term Debt | 800.91K | 69.95K | 860.41K |
| Capital Lease Obligations | 3.79M | 68.11K | 533.34K |
| Deferred Tax Liabilities | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.87M | 3.88M | 1.58M |
| Total Liabilities | 27.62M | 22.41M | 14.74M |
| Total Debt | 6.1M | 1.59M | 2.42M |
| Net Debt | 1.59M | -3.3M | -162.59K |
| Debt / Equity | - | - | - |
| Debt / EBITDA | - | - | - |
| Net Debt / EBITDA | - | - | - |
| Interest Coverage | -56.76x | -48.47x | -66.85x |
| Total Equity | -4.29M | -6.38M | -9.29M |
| Equity Growth % | 32.69% | 31.31% | - |
| Book Value per Share | -0.06 | -0.09 | -0.12 |
| Total Shareholders' Equity | -4.3M | -6.39M | -9.29M |
| Common Stock | 80.87K | 78.08K | 78.08K |
| Retained Earnings | -60.61M | -50.59M | -42.71M |
| Treasury Stock | 0 | 0 | 0 |
| Accumulated OCI | 2.56M | 1.23M | 1.29M |
| Minority Interest | 3.46K | 5.99K | 0 |
Insolvency and Dilution Risk
As reported in the 2024Q4 financial statements, OWLS has slipped into a negative equity position of -$4.3M, a concerning development that suggests the company's cumulative losses have now fully eroded its capital base, leaving the balance sheet in a precarious state of technical insolvency.
The transition to negative equity indicates that the company's aggressive expansion strategy has consistently failed to generate sufficient returns to cover its operating costs. Investors should monitor this trajectory closely, as it typically precedes either significant shareholder dilution through equity raises or a forced restructuring of the company's debt obligations.
Based on the 2024Q4 balance sheet, the company maintains a current ratio of 0.79, which, according to recent filings, indicates that current liabilities exceed current assets, leaving the firm with a limited cash buffer of only $4.5M to support its ongoing high-burn operations.
A current ratio below 1.0 suggests that the company may struggle to meet its short-term obligations without securing additional external financing or liquidating assets. This liquidity constraint appears to be a direct consequence of the company's inability to convert its diverse product suite into positive operating cash flow.
As disclosed in the latest quarterly data, OWLS carries $6.1M in total debt, a figure that appears disproportionately high when compared against the company's negative equity position and its limited cash reserves of $4.5M, signaling significant financial strain.
The presence of debt on a balance sheet that is already technically insolvent suggests that the company is relying on external credit to fund its operational deficits. This reliance on debt in a high-burn environment warrants further investigation into the maturity profile and interest burden of these obligations.
While the company reports $23.3M in total assets, the presence of $287.3K in goodwill and $4.9M in net PPE, as noted in the 2024Q4 report, suggests that a significant portion of the asset base may be difficult to monetize in a distress scenario.
The reliance on non-liquid assets like PPE and intangible goodwill may provide a misleading picture of the company's true financial health. If the core business segments fail to gain traction, these assets may be subject to impairment charges, which would further exacerbate the existing negative equity position.
Quick answers to the most common questions about buying OWLS stock.
As of 2024, OBOOK Holdings Inc. (OWLS) had total assets of $23.3M including $16.8M in current assets.
OBOOK Holdings Inc. (OWLS) carries total debt of $6.1M, offset by $4.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
OBOOK Holdings Inc. (OWLS) has total shareholders' equity (book value) of $-4.3M ($-0.06 book value per share). Book value represents the net worth of the company belonging to common stock holders.
OBOOK Holdings Inc. (OWLS) reported a current ratio of 0.79x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.