The company has successfully reduced its debt load from $50.8M in 2023Q4 to $11.0M as of 2026Q1, though equity remains sensitive to non-operational capital events.
| Total Current Assets | 57.2M | 55.05M | 81.88M | 28.72M | 46.85M | 191.91M | 219.56M | 266.58M | 221.69M | 131.6M | 11.99M |
| Cash & Short-Term Investments | 50.75M | 48.3M | 77.97M | 25.62M | 43.89M | 155.87M | 217.43M | 262.39M | 214.74M | 129.66M | 11.39M |
| Cash Only | 50.75M | 48.3M | 77.97M | 25.62M | 43.89M | 108.38M | 217.43M | 53.77M | 38.22M | 51.57M | 11.39M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 47.49M | 0 | 208.61M | 176.52M | 78.08M | 0 |
| Accounts Receivable | 0 | 0 | 555K | 755K | 1.06M | 0 | 400K | 400K | 800K | 0 | 113.26K |
| Days Sales Outstanding | 0.94 | - | - | -41.43 | 58.39 | - | 54.03 | 87.64 | 54.87 | - | - |
| Inventory | 0 | 0 | 0 | 0 | 1.75M | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 6.45M | 6.75M | 396K | 83K | 146K | 36.04M | 1.73M | 3.79M | 6.15M | 1.94M | 481.79K |
| Total Non-Current Assets | 6.47M | 6.73M | 10.46M | 18.34M | 14.92M | 19.81M | 44.17M | 43.99M | 37.41M | 5.93M | 2.23M |
| Property, Plant & Equipment | 5.83M | 6.08M | 7.09M | 8.08M | 9.17M | 17.86M | 42.9M | 42.72M | 35.64M | 3.15M | 1.96M |
| Fixed Asset Turnover | 8.66x | 8.84x | - | -0.82x | 0.73x | 1.90x | 0.06x | 0.04x | 0.15x | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 1.29M | 647K | 2.6M | 0 | 25.81M | 1.95M | 1.27M | 1.27M | 1.77M | 1.77M | 276K |
| Other Non-Current Assets | 647K | 0 | 763K | 10.26M | -20.06M | 0 | 0 | 0 | 0 | 1M | 0 |
| Total Assets | 63.67M | 61.78M | 92.33M | 47.06M | 61.77M | 211.72M | 263.74M | 310.57M | 259.09M | 137.53M | 14.22M |
| Asset Turnover | 0.86x | 0.87x | - | -0.14x | 0.11x | 0.16x | 0.01x | 0.01x | 0.02x | - | - |
| Asset Growth % | -144.06% | -33.09% | 96.21% | -23.82% | -70.82% | -19.72% | -15.08% | 19.87% | 88.39% | 867.21% | - |
| Total Current Liabilities | 10.67M | 11.35M | 16.46M | 14.11M | 57.87M | 17.23M | 22.66M | 12.37M | 22.52M | 8.86M | 6.38M |
| Accounts Payable | 653K | 879K | 2.99M | 3.47M | 1.44M | 2.37M | 4.72M | 2.61M | 15.73M | 2.54M | 893.67K |
| Days Payables Outstanding | 1.15K | 820.55 | 2.24K | - | - | 90.49 | - | - | - | 1.35K | 1.36K |
| Short-Term Debt | 6.24M | 6.93M | 3.1M | 878K | 32.4M | 246K | 2.5M | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 14.53M | 3.21M | 5.63M | 809K | 770K | 3.34M | 0 |
| Other Current Liabilities | 3.78M | 3.54M | 5.68M | 3M | 2.79M | 11.41M | 9.8M | 8.96M | 6.02M | 2.98M | 5.48M |
| Current Ratio | 5.36x | 4.85x | 4.97x | 2.04x | 0.81x | 11.14x | 9.69x | 21.54x | 9.84x | 14.85x | 1.88x |
| Quick Ratio | 5.36x | 4.85x | 4.97x | 2.04x | 0.78x | 11.14x | 9.69x | 21.54x | 9.84x | 14.85x | 1.88x |
| Cash Conversion Cycle | -1.15K | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 6.69M | 8.42M | 70.19M | 215.87M | 134.62M | 24.84M | 45.08M | 39.69M | 40.22M | 30.36M | 340.63K |
| Long-Term Debt | 4.75M | 3.47M | 9.56M | 43.18M | 5.07M | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 5.3M | 4.94M | 5.64M | 6.25M | 6.79M | 23.69M | 12.94M | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.94M | 0 | 55M | 166.44M | 111.44M | 0 | 0 | 9.54M | 9.47M | 290.92K | 340.63K |
| Total Liabilities | 17.36M | 19.76M | 86.66M | 229.98M | 192.49M | 42.07M | 67.74M | 52.06M | 62.74M | 39.22M | 6.72M |
| Total Debt | 10.99M | 15.34M | 18.9M | 50.84M | 44.73M | 23.93M | 15.44M | 0 | 0 | 0 | 0 |
| Net Debt | -39.76M | -32.95M | -59.06M | 25.22M | 838K | -84.45M | -201.99M | -53.77M | -38.22M | -51.57M | -11.39M |
| Debt / Equity | 0.24x | 0.37x | 3.33x | - | - | 0.14x | 0.08x | - | - | - | - |
| Debt / EBITDA | 0.50x | 0.89x | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -1.83x | -1.91x | - | - | - | - | - | - | - | - | - |
| Interest Coverage | 21.88x | 15.37x | -152.62x | - | - | - | - | - | - | - | - |
| Total Equity | 46.31M | 42.01M | 5.67M | -182.92M | -130.71M | 169.65M | 196M | 258.51M | 196.35M | 98.31M | 7.5M |
| Equity Growth % | 1556.77% | 640.33% | 103.1% | -39.94% | -177.05% | -13.44% | -24.18% | 31.65% | 99.73% | 1210.72% | - |
| Book Value per Share | 3.29 | 3.41 | 0.47 | -56.83 | -40.99 | 55.24 | 76.84 | 110.48 | 123.79 | 47.28 | 3.61 |
| Total Shareholders' Equity | 46.31M | 42.01M | 5.67M | -182.92M | 177.98M | 169.65M | 196M | 258.51M | 196.35M | 98.31M | 7.5M |
| Common Stock | 2K | 2K | 2K | 1K | 6K | 6K | 5K | 4K | 3K | 1.39K | 1.12K |
| Retained Earnings | -212.6M | -204.99M | -234.81M | -187.08M | -429.14M | -424.13M | -328.37M | -199.67M | -95.76M | -40.18M | -10.19M |
| Treasury Stock | 0 | 0 | 0 | 0 | 604.89M | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | -404K | -7K | 0 | 183K | -77K | -73.31K | -1.12K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Clinical milestone funding dependency
As reported in financial statements, QTTB's equity base has experienced significant volatility, shifting from a deficit of $182.9M in 2023Q4 to a positive $46.3M by 2026Q1, primarily driven by capital-raising activities rather than organic growth or operational profitability from its core clinical-stage pipeline.
The trajectory of the balance sheet reflects a company heavily reliant on external financing to offset persistent operating losses. Investors should monitor the sustainability of this equity position, as the lack of recurring revenue suggests that future balance sheet strength remains tethered to the success of capital markets rather than internal value creation.
Based on QTTB's reported figures, the cash position has declined from a peak of $115.5M in 2024Q1 to $50.8M in 2026Q1, indicating that the company's current liquidity buffer is rapidly depleting as it funds multiple Phase II clinical trials without a self-sustaining commercial revenue stream.
While the current ratio of 5.36 appears superficially healthy, it masks the reality of a high-burn clinical-stage entity with limited cash runway. The company's reliance on cash reserves to fund R&D suggests that liquidity will likely remain a primary constraint until a major milestone or partnership event occurs.
According to recent SEC filings, QTTB maintains a modest debt load of $11.0M as of 2026Q1, which represents a significant reduction from the $50.8M reported in 2023Q4, suggesting a strategic effort to deleverage the balance sheet despite the ongoing pressures of funding high-cost clinical development programs.
The reduction in debt may indicate management's attempt to preserve financial flexibility, yet the D/E ratio of 0.24 remains sensitive to equity fluctuations. Analysts should consider whether this debt level is sustainable given the company's lack of operating cash flow and the potential for future dilutive financing.
As indicated by the company's financial history, the transition from negative equity in 2025Q3 to positive equity in 2026Q1 highlights a reliance on non-operational capital events, which may obscure the underlying risk of continued shareholder dilution required to sustain the firm's current clinical trial trajectory.
The headline improvement in equity quality is potentially misleading, as it does not reflect operational progress but rather the mechanics of corporate restructuring and financing. Investors should be wary of the potential for further dilution, as the current balance sheet structure appears insufficient to support long-term R&D without additional capital injections.
Quick answers to the most common questions about buying QTTB stock.
As of 2025, Q32 Bio Inc. (QTTB) had total assets of $61.8M including $55.0M in current assets.
Q32 Bio Inc. (QTTB) carries total debt of $15.3M, offset by $48.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Q32 Bio Inc. (QTTB) has total shareholders' equity (book value) of $42.0M ($3.41 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Q32 Bio Inc. (QTTB) reported a current ratio of 4.85x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.