The company's balance sheet reflects a $102.3 million accumulated deficit, highlighting a reliance on equity financing despite a low debt-to-equity ratio of 0.02.
| Total Current Assets | 24.68M | 19.7M | 4.6M | 8.83M | 2.41M | 7.31M | 9.82M |
| Cash & Short-Term Investments | 22.43M | 17.24M | 3.07M | 8.27M | 1.65M | 6.75M | 9.12M |
| Cash Only | 22.43M | 17.24M | 3.07M | 8.27M | 1.65M | 6.75M | 9.12M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 95K | 495K | -14K | 115K | 87K | 0 | 0 |
| Days Sales Outstanding | 138.76 | 138.98 | - | 99.7 | 35.76 | - | - |
| Inventory | 1.43M | 1.3M | 977K | -49K | 520K | 0 | 0 |
| Days Inventory Outstanding | 748.06 | 559.95 | 5.85K | - | 5.27K | - | - |
| Other Current Assets | 728K | 407K | 472K | 329K | 152K | 554K | 700K |
| Total Non-Current Assets | 686K | 1.02M | 1.32M | 1.6M | 2M | 1.66M | 2.23M |
| Property, Plant & Equipment | 686K | 894K | 1.32M | 1.6M | 2M | 1.66M | 2.03M |
| Fixed Asset Turnover | 0.98x | 1.45x | 0.11x | 0.26x | 0.44x | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 129K | 0 | 0 | 0 | 0 | 196K |
| Total Assets | 25.37M | 20.6M | 5.92M | 10.43M | 4.41M | 8.97M | 12.05M |
| Asset Turnover | 0.03x | 0.06x | 0.02x | 0.04x | 0.20x | - | - |
| Asset Growth % | 617.73% | 247.86% | -43.24% | 136.5% | -50.84% | -25.53% | - |
| Total Current Liabilities | 2.62M | 2.68M | 2.61M | 1.37M | 1.55M | 2.19M | 1.11M |
| Accounts Payable | 77K | 107K | 185K | 56K | 139K | 51K | 137K |
| Days Payables Outstanding | 50.34 | 45.95 | 1.11K | 30.92 | 1.41K | 97.97 | - |
| Short-Term Debt | 0 | 305K | 285K | 281K | 299K | 485K | 0 |
| Deferred Revenue (Current) | 996K | 996K | 992K | 0 | 87K | 634K | 0 |
| Other Current Liabilities | 2.19M | 545K | 583K | 543K | -100K | -485K | 0 |
| Current Ratio | 9.44x | 7.36x | 1.76x | 6.45x | 1.55x | 3.34x | 8.82x |
| Quick Ratio | 8.89x | 6.87x | 1.39x | 6.49x | 1.22x | 3.34x | 8.82x |
| Cash Conversion Cycle | 836.47 | 652.99 | - | - | 3.9K | - | - |
| Total Non-Current Liabilities | 60K | 217K | 524K | 798K | 11.19M | 5.88M | 1.27M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 554K | 217K | 524K | 798K | 1.22M | 910K | 1.27M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 9.96M | 4.96M | 0 |
| Total Liabilities | 2.68M | 2.9M | 3.13M | 2.17M | 12.74M | 8.06M | 2.38M |
| Total Debt | 405K | 522K | 809K | 1.08M | 1.52M | 1.4M | 1.56M |
| Net Debt | -22.03M | -16.72M | -2.26M | -7.19M | -129K | -5.35M | -7.55M |
| Debt / Equity | 0.02x | 0.03x | 0.29x | 0.13x | - | 1.54x | 0.16x |
| Debt / EBITDA | -0.04x | - | - | - | - | - | - |
| Net Debt / EBITDA | 2.12x | - | - | - | - | - | - |
| Interest Coverage | - | -7.02x | - | - | - | -5352.50x | - |
| Total Equity | 22.69M | 17.7M | 2.79M | 8.27M | -8.33M | 907K | 9.66M |
| Equity Growth % | 1030.42% | 535.16% | -66.28% | 199.26% | -1018.08% | -90.62% | - |
| Book Value per Share | 0.45 | 1.06 | 1.08 | 0.58 | -0.52 | 0.79 | 9.62 |
| Total Shareholders' Equity | 22.69M | 17.7M | 2.79M | 8.27M | -8.33M | 907K | 9.66M |
| Common Stock | 0 | 0 | 68K | 46K | 25K | 25K | 25K |
| Retained Earnings | -102.35M | -96.67M | -65.96M | -54.81M | -44.34M | -34.12M | -23.41M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Capital Runway and Dilution
According to the latest quarterly financial statements, RVSN's total assets have expanded to $25.4 million as of 2025Q2, yet this growth is entirely driven by external capital injections rather than organic asset generation, leaving the underlying business trajectory heavily dependent on continued equity market access.
The increase in total assets from $5.9 million in 2023Q4 to $25.4 million in 2025Q2 reflects a deliberate strategy to bolster the balance sheet through equity financing. However, this accumulation does not signal operational maturity, as the company continues to report significant accumulated deficits that suggest the capital is being consumed to fund ongoing R&D rather than productive asset expansion.
Based on reported figures, RVSN maintains a current ratio of 9.44 as of 2025Q2, which appears superficially strong but primarily reflects the recent influx of cash from financing activities rather than an efficient conversion of operational assets into liquid working capital to support the business.
While the current ratio suggests a robust buffer against short-term obligations, investors should monitor the rate at which this cash is depleted given the company's persistent negative operating margins. The liquidity position is essentially a runway metric that will inevitably decline unless the company achieves a self-sustaining commercial model.
As indicated by the financial data, the company's equity base has grown to $22.7 million by 2025Q2, yet this is directly offset by an accumulated deficit of $102.3 million, highlighting a persistent trend of shareholder dilution to finance the firm's ongoing, loss-making research and development activities.
The reliance on equity funding to cover massive accumulated losses suggests that the company's capital structure is designed for survival rather than value creation. This structure places significant pressure on future performance, as any path to profitability must overcome the substantial dilution already absorbed by existing shareholders.
Based on the provided balance sheet, the low debt-to-equity ratio of 0.02% might suggest financial health, but this metric is misleading as it ignores the company's extreme reliance on equity-based funding to offset the lack of operational cash flow and the absence of meaningful revenue generation.
The minimal debt load is a function of the company's inability to access traditional credit markets, forcing a reliance on equity that masks the true cost of capital. Investors should be wary of interpreting the low leverage as a sign of strength, as it is more indicative of a venture-stage profile that lacks the collateral or cash flow to support debt financing.
Quick answers to the most common questions about buying RVSN stock.
As of 2024, Rail Vision Ltd. (RVSN) had total assets of $20.6M including $19.7M in current assets.
Rail Vision Ltd. (RVSN) carries total debt of $0.5M, offset by $17.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Rail Vision Ltd. (RVSN) has total shareholders' equity (book value) of $17.7M ($1.06 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Rail Vision Ltd. (RVSN) reported a current ratio of 7.36x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.