The company's capital structure appears increasingly unsustainable, with a current ratio of 0.89 and a significant accumulation of negative retained earnings totaling -$32.5M.
| Total Current Assets | 7.82M | 6.88M | 862.75K | 765.42K | 3.63M | 1.19M | 207.48K | 78.89K | 29.15K | 157.7K |
| Cash & Short-Term Investments | 266.38K | 2.59M | 158.22K | 164.3K | 3.02M | 905.05K | 128.57K | -1.04M | 0 | 142.43K |
| Cash Only | 266.38K | 2.59M | 158.22K | 164.3K | 3.02M | 905.05K | 128.57K | -1.04M | 0 | 142.43K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 6.77M | 3.68M | 67.31K | 56.94K | 780 | 0 | 3.85K | 19.91K | 3.26K | 1.63K |
| Days Sales Outstanding | 83.79 | 165.76 | 4.14 | 3.77 | 0.09 | - | 1.77 | 11.76 | 3.82 | 12.35 |
| Inventory | 119.21K | 58.44K | 169.62K | 185.06K | 132.34K | 88.88K | 15.28K | 9.2K | 9.45K | 1.82K |
| Days Inventory Outstanding | 8.96 | 6.14 | 28.08 | 35.77 | 43.24 | 10.97 | 4.54 | 3.58 | 21.48 | 10.71 |
| Other Current Assets | 665.28K | 550K | 467.61K | 359.12K | 477.85K | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 6.33M | 6.3M | 6.93M | 8.49M | 4.83M | 3.58M | 1.77M | 1.63M | 1.01M | 246.64K |
| Property, Plant & Equipment | 4.81M | 5.06M | 6.73M | 8.06M | 4.59M | 3.58M | 1.77M | 1.63M | 982.6K | 233.34K |
| Fixed Asset Turnover | 2.27x | 1.60x | 0.88x | 0.68x | 0.71x | 0.64x | 0.45x | 0.38x | 0.32x | 0.21x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 450K | 500K | 0 | 0 |
| Other Non-Current Assets | 1.52M | 1.25M | 193.19K | 425.71K | -2.28M | 0 | -450K | -500K | 24.78K | 13.31K |
| Total Assets | 14.15M | 13.18M | 7.79M | 9.25M | 8.46M | 4.76M | 1.98M | 1.71M | 1.04M | 404.34K |
| Asset Turnover | 1.16x | 0.61x | 0.76x | 0.60x | 0.38x | 0.48x | 0.40x | 0.36x | 0.30x | 0.12x |
| Asset Growth % | 69.57% | 69.22% | -15.81% | 9.4% | 77.55% | 141.07% | 15.59% | 64.92% | 156.35% | - |
| Total Current Liabilities | 8.81M | 6.69M | 2.78M | 3.82M | 1.07M | 913.47K | 1.54M | 3.33M | 1.97M | 429.4K |
| Accounts Payable | 1.7M | 561.46K | 558.44K | 632.75K | 87.81K | 45.75K | 73.32K | 823 | 224.83K | 5.49K |
| Days Payables Outstanding | 60.41 | 58.96 | 92.46 | 122.3 | 28.69 | 5.65 | 21.78 | 0.32 | 511.11 | 32.31 |
| Short-Term Debt | 4.49M | 3.77M | 605.93K | 1.58M | 120.4K | 164.77K | 1.21M | 3.07M | 1.64M | 418K |
| Deferred Revenue (Current) | 70K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 550.83K | 503.24K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio | 0.89x | 1.03x | 0.31x | 0.20x | 3.40x | 1.30x | 0.13x | 0.02x | 0.01x | 0.37x |
| Quick Ratio | 0.87x | 1.02x | 0.25x | 0.15x | 3.28x | 1.20x | 0.12x | 0.02x | 0.01x | 0.36x |
| Cash Conversion Cycle | 32.34 | 112.93 | -60.23 | -82.76 | 14.64 | - | -15.47 | 15.02 | -485.81 | -9.25 |
| Total Non-Current Liabilities | 1.89M | 1.85M | 2.4M | 4.58M | 3.1M | 2.65M | 1.19M | 887.23K | 63.87K | 0 |
| Long-Term Debt | 476.37K | 495.66K | 496.25K | 856.68K | 574.87K | 640.06K | 194.49K | 35.18K | 63.87K | 0 |
| Capital Lease Obligations | 5.26M | 1.35M | 1.91M | 3.73M | 2.53M | 2.01M | 994.24K | 852.05K | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 10.71M | 8.54M | 5.19M | 8.41M | 4.17M | 3.57M | 2.73M | 4.22M | 2.03M | 429.4K |
| Total Debt | 7.19M | 6.5M | 3.85M | 7.16M | 3.85M | 3.39M | 2.59M | 4.14M | 1.7M | 418K |
| Net Debt | 6.92M | 3.91M | 3.69M | 7M | 831.12K | 2.49M | 2.46M | 5.18M | 1.7M | 275.57K |
| Debt / Equity | 2.09x | 1.40x | 1.48x | 8.46x | 0.90x | 2.83x | - | - | - | - |
| Debt / EBITDA | -1.65x | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -1.59x | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -4.61x | -6.27x | -21.33x | -35.43x | -120.71x | -211.69x | -48.65x | -431.10x | - | - |
| Total Equity | 3.45M | 4.65M | 2.6M | 846.41K | 4.29M | 1.2M | -752.4K | -2.51M | -995.39K | -25.06K |
| Equity Growth % | 404.25% | 78.5% | 207.51% | -80.25% | 257.72% | 259.26% | 70.02% | -152.13% | -3872.21% | - |
| Book Value per Share | 0.65 | 0.88 | 0.90 | 0.51 | 2.61 | 0.10 | -0.07 | -0.04 | -0.02 | -0.00 |
| Total Shareholders' Equity | 2.98M | 4.51M | 2.6M | 846.41K | 4.29M | 1.2M | -752.4K | -2.51M | -995.39K | -25.06K |
| Common Stock | 821 | 850.78K | 1.47M | 1.49K | 1.32K | 1.16K | 1.04K | 55.92K | 1M | 1M |
| Retained Earnings | -32.53M | -30.7M | -21.56M | -16.76M | -12.03M | -8.48M | -5.04M | -3.97M | -2M | -1.03M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 21.09K | 0 | 0 | 0 | -450K | -500K | 0 | 0 |
| Minority Interest | 468.48K | 134.15K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Critical liquidity and insolvency
As reported in recent financial filings, REBN's equity base has faced extreme volatility, shifting from a positive $4.5M in 2025Q4 to a negative position in prior periods, which underscores a precarious trajectory where persistent net losses continue to erode the company's net asset value over time.
The consistent accumulation of retained earnings deficits, now reaching -$32.5M as of 2026Q1, suggests that the business model has yet to achieve a self-sustaining scale. Investors should monitor whether the current trajectory necessitates further dilutive financing to prevent a total depletion of shareholder equity.
Based on the latest quarterly data, REBN maintains a debt-to-equity ratio of 2.09, reflecting a reliance on external financing that appears increasingly unsustainable given the company's inability to generate positive operating cash flow to service these obligations or fund ongoing store-level expansion requirements.
The debt load of $7.2M relative to a cash balance of only $266.4K in 2026Q1 indicates a high risk of default or the need for emergency capital restructuring. This leverage appears driven by necessity rather than strategic growth, as the company struggles to cover its fixed costs.
According to the 2026Q1 balance sheet, REBN's current ratio stands at a concerning 0.89, which, when paired with a cash position of just $266.4K, suggests the company lacks the necessary liquidity buffer to navigate even minor operational shocks or seasonal downturns in the retail coffee market.
The rapid depletion of cash from $2.6M in 2025Q4 to current levels highlights a critical burn rate that warrants immediate investor caution. This liquidity profile implies that the company may be forced to seek high-cost financing or equity dilution in the near term to maintain operations.
As evidenced by the balance sheet, REBN's asset base is heavily concentrated in net PPE, which totaled $4.8M in 2026Q1, indicating an asset-heavy retail model that requires significant ongoing capital expenditure to maintain storefronts despite the company's current inability to generate a return on these investments.
The lack of goodwill or significant intangible assets suggests that the company's value is tied almost exclusively to its physical footprint, which may be vulnerable to impairment if store-level performance does not improve. This asset structure leaves little room for flexibility if the retail strategy fails to gain traction.
Based on an analysis of the balance sheet, the most non-obvious risk is the persistent negative retained earnings of -$32.5M, which suggests that the company's historical growth has been funded by capital consumption rather than operational success, potentially masking the true cost of its retail expansion strategy.
Investors should be wary of the potential for future asset write-downs if the current store-level economics do not align with the carrying value of the PPE. The reliance on external debt to fund these losses creates a feedback loop that may limit the company's future strategic options.
Quick answers to the most common questions about buying REBN stock.
As of 2025, Reborn Coffee, Inc. (REBN) had total assets of $13.2M including $6.9M in current assets.
Reborn Coffee, Inc. (REBN) carries total debt of $6.5M, offset by $2.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Reborn Coffee, Inc. (REBN) has total shareholders' equity (book value) of $4.5M ($0.88 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Reborn Coffee, Inc. (REBN) reported a current ratio of 1.03x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.