Financial leverage has surged significantly, with total debt increasing to $98.2M in 2026Q1 from $5.1M in 2025Q4, placing extreme pressure on the company's $20.2M equity base.
Precigen, Inc. (PGEN) balance sheet — 15-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|
| Total Current Assets | 171.76M | 115.23M | 102.41M | 68.75M | 118.16M | 156.63M | 148.95M | 234.64M | 285.48M | 154.05M | 315.18M | 323.8M | 174.77M | 187.56M | 13.53M | 22.98M |
| Cash & Short-Term Investments | 46.07M | 97.86M | 97.91M | 62.85M | 55.95M | 108.66M | 100.12M | 75.05M | 222.84M | 79.67M | 237.21M | 238.31M | 115.96M | 177.49M | 10.66M | 19.89M |
| Cash Only | 14.96M | 30.23M | 29.52M | 7.58M | 4.86M | 36.42M | 51.79M | 65.79M | 102.77M | 68.11M | 62.61M | 135.78M | 27.47M | 49.51M | 10.4M | 19.63M |
| Short-Term Investments | 31.11M | 67.62M | 68.39M | 55.28M | 51.09M | 72.24M | 48.33M | 9.26M | 120.07M | 11.56M | 174.6M | 102.53M | 88.5M | 127.98M | 260K | 258K |
| Accounts Receivable | 96.62M | 4.36M | 1.16M | 1.57M | 13.8M | 1.98M | 20.43M | 26.22M | 26.57M | 39.84M | 42.48M | 52.29M | 29.26M | 7.36M | 707K | 1.34M |
| Days Sales Outstanding | 116.13 | 164.41 | 108.15 | 92.35 | 187.24 | 50.66 | 233.05 | 299.17 | 60.38 | 62.96 | 81.22 | 109.95 | 148.5 | 113.02 | 18.53 | 61.13 |
| Inventory | 22.91M | 9.58M | 0 | 0 | 287K | 326K | 11.36M | 16.1M | 21.45M | 20.49M | 21.14M | 26.56M | 25.79M | 0 | 0 | 0 |
| Days Inventory Outstanding | 436.49 | 573.67 | - | - | 16.53 | 2.22 | 92.54 | 1.09K | 123.69 | 119.13 | 125.18 | 151.66 | 488.73 | - | - | - |
| Other Current Assets | 0 | 3.43M | 3.34M | 4.33M | 48.12M | 38.92M | 9.85M | 111.44M | 16.14M | 6.99M | 6.99M | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 40.34M | 41.39M | 42.85M | 82.29M | 97.82M | 203.23M | 165.64M | 221.12M | 430.69M | 692.8M | 633.89M | 658.25M | 401.5M | 281.92M | 138.11M | 91.85M |
| Property, Plant & Equipment | 17.34M | 18.44M | 18.8M | 14.13M | 15.29M | 18.55M | 44.28M | 86.2M | 128.87M | 112.67M | 64.67M | 42.74M | 38M | 16.63M | 18.69M | 18.48M |
| Fixed Asset Turnover | 8.93x | 0.53x | 0.21x | 0.44x | 1.76x | 0.77x | 0.72x | 0.37x | 1.25x | 2.05x | 2.95x | 4.06x | 1.89x | 1.43x | 0.75x | 0.43x |
| Goodwill | 15.23M | 15.23M | 19.14M | 26.61M | 36.92M | 37.55M | 54.36M | 63.75M | 149.59M | 153.29M | 157.18M | 165.17M | 101.06M | 13.82M | 0 | 0 |
| Intangible Assets | 2.23M | 3.18M | 4.46M | 40.7M | 44.45M | 52.29M | 65.4M | 68.35M | 129.29M | 232.88M | 225.62M | 247.53M | 65.95M | 41.96M | 29.51M | 32.53M |
| Long-Term Investments | 8.4M | 2.51M | 0 | 0 | 399K | 48.56M | 0 | 1.46M | 20.85M | 189.91M | 182.72M | 199.08M | 195.22M | 208.39M | 88.84M | 39.1M |
| Other Non-Current Assets | 634K | 908K | 459K | 846K | -8.42M | 46.27M | -8.12M | -13.88M | -6.33M | 4.05M | 3.71M | 3.73M | 1.27M | 1.12M | 1.08M | 1.74M |
| Total Assets | 212.1M | 156.62M | 145.27M | 151.04M | 215.98M | 359.86M | 314.59M | 455.76M | 716.18M | 846.85M | 949.07M | 982.05M | 576.27M | 469.47M | 151.65M | 114.83M |
| Asset Turnover | 0.93x | 0.06x | 0.03x | 0.04x | 0.12x | 0.04x | 0.10x | 0.07x | 0.22x | 0.27x | 0.20x | 0.18x | 0.12x | 0.05x | 0.09x | 0.07x |
| Asset Growth % | 106.43% | 7.82% | -3.82% | -30.07% | -39.98% | 14.39% | -30.98% | -36.36% | -15.43% | -10.77% | -3.36% | 70.41% | 22.75% | 209.58% | 32.06% | - |
| Total Current Liabilities | 30.79M | 37.31M | 21.52M | 22.98M | 78.64M | 34.65M | 42.13M | 122.91M | 61.56M | 80.17M | 94.61M | 75.9M | 47.48M | 19.83M | 16.72M | 17.6M |
| Accounts Payable | 7.06M | 11.98M | 3.53M | 1.73M | 4.07M | 3.11M | 4.6M | 5.53M | 11.97M | 8.7M | 8.48M | 4.97M | 6.27M | 1.06M | 632K | 3.1M |
| Days Payables Outstanding | 174.26 | 717.61 | 302.04 | 102.96 | 234.24 | 21.16 | 37.46 | 375.46 | 69.05 | 50.58 | 50.2 | 28.36 | 118.77 | 8.01 | 3.6 | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 43.22M | 52K | 360K | 33.59M | 945K | 735K | 1.21M | 1.49M | 3.95M | 0 | 0 | 0 |
| Deferred Revenue (Current) | 1.39M | 517K | 589K | 509K | 25K | 1.49M | 2.8M | 5.7M | 15.55M | 42.87M | 53.36M | 35.37M | 16.52M | 7.79M | 9.96M | 1.4M |
| Other Current Liabilities | 0 | 10.2M | 8.42M | 8.25M | 23.75M | 20.71M | 22.14M | 62.21M | 27.34M | 21.08M | 24.58M | 15.03M | 5.95M | 5.79M | 3.77M | 11.7M |
| Current Ratio | 5.58x | 3.09x | 4.76x | 2.99x | 1.50x | 4.52x | 3.54x | 1.91x | 4.64x | 1.92x | 3.33x | 4.27x | 3.68x | 9.46x | 0.81x | 1.31x |
| Quick Ratio | 4.83x | 2.83x | 4.76x | 2.99x | 1.50x | 4.51x | 3.27x | 1.78x | 4.29x | 1.67x | 3.11x | 3.92x | 3.14x | 9.46x | 0.81x | 1.31x |
| Cash Conversion Cycle | 378.36 | 20.47 | - | - | -30.47 | 31.71 | 288.14 | 1.02K | 115.02 | 131.51 | 156.19 | 233.25 | 518.46 | - | - | - |
| Total Non-Current Liabilities | 97.52M | 98.4M | 85.23M | 9.56M | 11.07M | 217.86M | 205.29M | 261.14M | 275.89M | 220.13M | 285.21M | 201.26M | 119.5M | 68.3M | 456.48M | 318.49M |
| Long-Term Debt | 94.26M | 93.17M | 0 | 0 | 0 | 179.88M | 171.52M | 186.32M | 211.22M | 7.54M | 7.56M | 7.6M | 8.69M | 1.65M | 0 | 0 |
| Capital Lease Obligations | 14.27M | 3.98M | 4.55M | 5.89M | 6.99M | 8.75M | 7.74M | 10.12M | 0 | 0 | 0 | 0 | 0 | 10K | 42K | 97K |
| Deferred Tax Liabilities | 1.12M | 1.12M | 0 | 1.85M | 2.26M | 2.54M | 2.9M | 2.83M | 7.21M | 15.62M | 17.01M | 21.8M | 13.42M | 0 | 0 | 0 |
| Other Non-Current Liabilities | 48K | 134K | 78.75M | 0 | 0 | 3.67M | 100K | 13.73M | 64.68M | 3.45M | 3.87M | 9.49M | 699K | 859K | 407.77M | 302.87M |
| Total Liabilities | 128.31M | 135.71M | 106.75M | 32.55M | 89.72M | 252.51M | 247.41M | 384.05M | 337.45M | 300.31M | 379.82M | 277.16M | 166.98M | 88.13M | 473.2M | 336.09M |
| Total Debt | 98.61M | 98.29M | 5.5M | 7.1M | 51.42M | 190.07M | 182.28M | 232.67M | 212.26M | 8.27M | 8.77M | 9.09M | 12.64M | 1.69M | 91K | 168K |
| Net Debt | 83.65M | 68.06M | -24.02M | -481K | 46.56M | 153.65M | 130.49M | 166.87M | 109.49M | -59.84M | -53.84M | -126.69M | -14.82M | -47.82M | -10.31M | -19.46M |
| Debt / Equity | 1.18x | 4.70x | 0.14x | 0.06x | 0.41x | 1.77x | 2.71x | 3.24x | 0.56x | 0.02x | 0.02x | 0.01x | 0.03x | 0.00x | - | - |
| Debt / EBITDA | 2.59x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 2.20x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | 3.08x | -63.81x | -21337.00x | -204.90x | -10.80x | -4.87x | -4.65x | -4.74x | -45.42x | -211.27x | -224.49x | -68.92x | -127.71x | -289.13x | -1435.39x | -465.01x |
| Total Equity | 83.79M | 20.91M | 38.51M | 118.5M | 126.26M | 107.35M | 67.17M | 71.71M | 378.72M | 546.54M | 569.25M | 704.89M | 409.29M | 381.34M | -321.55M | -221.26M |
| Equity Growth % | 516.83% | -45.7% | -67.5% | -6.15% | 17.62% | 59.81% | -6.33% | -81.06% | -30.71% | -3.99% | -19.24% | 72.22% | 7.33% | 218.59% | -45.33% | - |
| Book Value per Share | 0.20 | 0.07 | 0.14 | 0.48 | 0.63 | 0.54 | 0.40 | 0.47 | 2.92 | 4.55 | 4.82 | 6.35 | 4.13 | 9.31 | -58.11 | -39.06 |
| Total Shareholders' Equity | 83.79M | 20.91M | 38.51M | 118.5M | 126.26M | 107.35M | 67.17M | 71.71M | 362.86M | 533.63M | 560.24M | 694.08M | 384.76M | 366.72M | -321.55M | -221.26M |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 580.07M | 580.07M | 0 | 0 | 386.61M | 0 | 0 |
| Retained Earnings | -2.29B | -2.34B | -2.09B | -1.96B | -1.87B | -1.92B | -1.82B | -1.65B | -1.33B | -847.82M | -729.34M | -542.73M | -458.24M | -376.41M | -321.55M | -221.26M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -87K | 7K | 12K | -1.95M | -3.49M | 203K | 4M | -27.47M | -28.61M | -15.55M | -36.2M | -12.75M | -4K | 52K | -13.38M | -8.97M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15.87M | 12.91M | 9.01M | 10.81M | 24.53M | 14.62M | 0 | 0 |
Quick answers to the most common questions about buying PGEN stock.
As of 2025, Precigen, Inc. (PGEN) had total assets of $156.6M including $115.2M in current assets.
Precigen, Inc. (PGEN) carries total debt of $98.3M, offset by $97.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Precigen, Inc. (PGEN) has total shareholders' equity (book value) of $20.9M ($0.07 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Precigen, Inc. (PGEN) reported a current ratio of 3.09x. 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
High liquidity and leverage risk
Metrics are mathematically derived from official filings.
Deteriorating Solvency and Capital Structure
As reported in recent financial statements, Precigen's equity position has faced extreme volatility, swinging from a positive $118.5M in 2023Q4 to a negative $36.8M in 2025Q2, signaling a precarious trajectory that underscores the company's ongoing struggle to maintain a stable capital base amidst persistent operating losses.
The rapid erosion of shareholder equity suggests that the company's current business model is failing to generate sufficient value to offset its high R&D burn. Investors should monitor whether the recent shift in debt levels indicates a structural reliance on external financing that may further dilute existing equity holders.
Leverage Spikes Threaten Financial Flexibility
Based on the company's reported figures, total debt surged to $98.2M in 2026Q1 from just $5.1M in 2025Q4, representing a dramatic increase in leverage that significantly elevates the company's financial risk profile and complicates its ability to navigate future clinical development milestones without further capital market intervention.
This sudden spike in debt appears to be a reactive measure to address liquidity constraints rather than a strategic capital allocation decision. The resulting D/E ratio of 4.86 suggests that the company's balance sheet is increasingly burdened by obligations that may limit its operational agility in the coming quarters.
Cash Runway Remains Critically Thin
According to recent SEC filings, Precigen's cash reserves fluctuated to $7.5M in 2026Q1, a level that appears insufficient given the company's historical quarterly burn rates, suggesting that the firm remains highly dependent on external financing to sustain its ongoing clinical trial activities and general corporate operations.
While the current ratio of 4.82 might appear superficially healthy, it is heavily influenced by the composition of current assets and the timing of liabilities. The low absolute cash balance relative to the company's high R&D intensity warrants significant caution regarding the firm's ability to fund its pipeline through the next fiscal year.
Hidden Risks in Asset Valuation
As indicated by the company's balance sheet, the presence of $15.2M in goodwill alongside significant accumulated deficits of $2.3B suggests that the carrying value of intangible assets may be subject to future impairment risks if clinical milestones for the UltraCAR-T platform fail to materialize as expected.
The reliance on intangible assets to bolster the asset base may mask the underlying lack of tangible value creation within the current portfolio. Investors should investigate whether these assets are appropriately valued given the company's history of pivoting away from legacy technologies and the inherent uncertainty of its current clinical pipeline.