The balance sheet appears increasingly fragile, with cash reserves dwindling to $1.42 million against a substantial $571.8 million deficit in retained earnings.
| 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 | Dec'10 |
|---|
| Total Current Assets | 11.23M | 17.53M | 19.15M | 33.86M | 34.37M | 592.64M | 335.85M | 430.33M | 601.59M | 110.96M | 245.84M | 1.71B | 202.54M | 150.14M | 52.84M | 49.09M | 207.17M |
| Cash & Short-Term Investments | 1.23M | 1.42M | 1.81M | 3.24M | 7.81M | 17.67M | 47.25M | 385.07M | 535.13M | 121.02M | 1.58B | 1.67B | 156.64M | 109.96M | 5.06M | 10.81M | 35.28M |
| Cash Only | 1.23M | 1.42M | 1.81M | 3.24M | 5.45M | 17.67M | 47.25M | 361.22M | 435.13M | 494.22M | 96.94M | 400.66M | 78.28M | 89.98M | 5.06M | 10.17M | 35.28M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 2.36M | 0 | 0 | 3.41M | 100M | 20M | 904.69M | 1.27B | 78.36M | 19.98M | 0 | 636.43K | 0 |
| Accounts Receivable | 2.78M | 5.81M | 4.63M | 2.63M | 8.87M | 737K | 1.31M | 5.49M | 9.73M | 11.02M | 13.45M | 9.71M | 94.9M | 16.22M | 225.84M | 173.34M | 117.25M |
| Days Sales Outstanding | 13.99 | 91.93 | 7.03 | 22.29 | 8.23 | 0.79 | 33.9 | 55.78 | 27.11 | 55.97 | 933.5 | 35.59 | 59.75 | 138.25 | 3K | 1.71K | 1.8K |
| Inventory | 0 | 0 | 0 | 0 | 126K | 25.5M | -2.65M | -1.13M | -7.04M | -1.74M | -895.06M | -1.21B | -382M | -33.53M | -35.53M | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | 0.73 | 37.08 | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 4.78M | 10.3M | 11.4M | 23.61M | 16.93M | 545.91M | 289.94M | 40.67M | 60.02M | -22.2M | -452.74M | 1.25B | 315.37M | 48.13M | -149.91M | -145.09M | 54.05M |
| Total Non-Current Assets | 57.86M | 28.08M | 67.19M | 38.74M | 40.11M | 1.28B | 134.62M | 265.45M | 645M | 155.86M | 53.76M | 372.41M | 10.2M | 7.99M | 7.93M | 4.57M | 17.77M |
| Property, Plant & Equipment | 19.39M | 14.16M | 22.52M | 27.11M | 18.85M | 79.86M | 4.46M | 14.4M | 14.13M | 16.39M | 7.77M | 6.81M | 6.62M | 5.98M | 6.1M | 2.21M | 8.02M |
| Fixed Asset Turnover | 3.36x | 1.63x | 10.67x | 1.59x | 20.87x | 4.28x | 3.18x | 2.50x | 9.27x | 4.38x | 0.68x | 14.62x | 87.55x | 7.17x | 4.50x | 16.70x | 2.96x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 26.57M | 0 | 0 | 18.86M | 39.88M | 23.11M | 10M | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 8.16M | 5.86M | 11.08M | 2.03M | 3.31M | 76.58M | 367.04K | 643.87K | 31.25M | 44.59M | 8.86M | 30.83M | 540.7K | 557.24K | 357.11K | 277.01K | 1.19M |
| Long-Term Investments | 14.18M | 3.4M | 3.56M | 4.17M | 8.05M | 10.05M | 15.3M | 23.37M | 194.38M | 53.16M | 85.46M | 60.33M | 1.07M | 0 | 1.11M | 0 | 0 |
| Other Non-Current Assets | 26.89M | 4.65M | 30.02M | 5.43M | 9.9M | 1.07B | 114.27M | 226.27M | 385.63M | 958.39K | -72.27M | 264.26M | 1.91M | 1.43M | 222.85K | 1.92M | 8.32M |
| Total Assets | 69.09M | 45.61M | 86.33M | 72.6M | 74.48M | 1.87B | 470.47M | 688.34M | 1.25B | 266.81M | 299.6M | 2.08B | 212.75M | 158.13M | 60.77M | 53.66M | 224.94M |
| Asset Turnover | 0.92x | 0.51x | 2.78x | 0.59x | 5.28x | 0.18x | 0.03x | 0.05x | 0.11x | 0.27x | 0.02x | 0.05x | 2.72x | 0.27x | 0.45x | 0.69x | 0.11x |
| Asset Growth % | 46.35% | -47.17% | 18.93% | -2.53% | -96.02% | 297.44% | -31.65% | -44.78% | 367.21% | -10.94% | -85.63% | 879.8% | 34.54% | 160.19% | 13.26% | -76.14% | - |
| Total Current Liabilities | 11.34M | 10.02M | 11.24M | 44.93M | 30.84M | 536.34M | 73.62M | 11.03M | 99.69M | 25.02M | 30.17M | 157.82M | 25.45M | 19.56M | 45.18M | 29.03M | 156M |
| Accounts Payable | 25K | 566K | 25K | 821K | 3.64M | 54.38M | 0 | 0 | 0 | 0 | 0 | 16.33K | 0 | 0 | 7.48M | 0 | 1.06M |
| Days Payables Outstanding | 0.11 | 6.1 | 0.04 | 7.48 | 21.16 | 79.06 | - | - | - | - | - | 0.24 | - | - | 921.86 | - | 116.07 |
| Short-Term Debt | 0 | 1.08M | 1.49M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.11M | 0 | 0 | 0 |
| Deferred Revenue (Current) | 7.7M | 2.28M | 0 | 1.8M | 1.69M | 9.2M | 5.87M | 5.53M | 6.4M | 5.93M | 5.67M | 16.83M | 13.01M | 9.65M | 7.24M | 7.47M | 0 |
| Other Current Liabilities | 638K | 5.7M | -1.49M | 27.81M | 20.59M | 443.7M | 62.24M | -20.28M | 88.16M | 12.46M | 17.05M | 135.88M | 1.37M | 926.7K | 1.43M | 675.42K | 142.05M |
| Current Ratio | 0.99x | 1.75x | 1.70x | 0.75x | 1.11x | 1.10x | 4.56x | 39.02x | 6.03x | 4.44x | 8.15x | 10.85x | 7.96x | 7.67x | 1.17x | 1.69x | 1.33x |
| Quick Ratio | 0.99x | 1.75x | 1.70x | 0.75x | 1.11x | 1.06x | 4.60x | 39.12x | 6.10x | 4.51x | 37.82x | 18.54x | 22.97x | 9.39x | 1.96x | 1.69x | 1.33x |
| Cash Conversion Cycle | 13.88 | - | - | - | -12.2 | -41.19 | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 3.94M | 860K | 8.32M | 2.54M | 2.84M | 29.04M | 6.33M | 7.08M | 11.94M | 10.62M | 8.55M | 60.34M | 7.12M | 5M | 16.01M | 12.8M | 58.05M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 46.93M | 44.19M | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 2.82M | 860K | 1.06M | 2.54M | 2.84M | 29.04M | 5.81M | 4.53M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8.43K | 7.75M | 2.98M | 2.15M | 13.41M | 343K | 157K | 14.23M | 12.23M | 55.57M |
| Other Non-Current Liabilities | 3.59M | 0 | 7.26M | 0 | 0 | 0 | 524.85K | 2.55M | 4.2M | 7.63M | 6.4M | 0 | 6.78M | 29.17M | 1.79M | 572K | 2.48M |
| Total Liabilities | 15.28M | 10.88M | 19.55M | 47.46M | 33.68M | 565.38M | 79.95M | 18.11M | 111.63M | 35.63M | 38.72M | 218.16M | 32.58M | 24.57M | 61.19M | 41.83M | 214.05M |
| Total Debt | 1.81M | 1.94M | 13.39M | 4.22M | 4.2M | 43.1M | 9.52M | 48.35M | 0 | 0 | 0 | 46.93M | 44.19M | 2.11M | 11.2M | 0 | 0 |
| Net Debt | 582K | 518K | 11.58M | 975K | -1.24M | 25.43M | -37.72M | -312.87M | -435.13M | -494.22M | -96.94M | -353.73M | -34.08M | -87.87M | 6.14M | -10.17M | -35.28M |
| Debt / Equity | 0.03x | 0.06x | 0.20x | 0.17x | 0.10x | 0.03x | 0.02x | 0.08x | - | - | - | 0.03x | 0.25x | 0.02x | - | - | - |
| Debt / EBITDA | -0.05x | - | 5.66x | - | 0.03x | - | - | - | - | - | - | - | 0.29x | 0.19x | 2.62x | - | - |
| Net Debt / EBITDA | -0.02x | - | 4.90x | - | -0.01x | - | - | - | - | - | - | - | -0.23x | -7.78x | 1.44x | -1.40x | -2.75x |
| Interest Coverage | - | - | - | - | -131.33x | -31.15x | - | - | - | - | - | -972.72x | 464.59x | 6.50x | - | - | - |
| Total Equity | 53.81M | 34.73M | 66.78M | 25.13M | 40.8M | 1.3B | 390.69M | 583.92M | 1.13B | 231.18M | 260.88M | 1.87B | 180.17M | 133.56M | -419.75K | 11.83M | 10.9M |
| Equity Growth % | 266.59% | -48% | 165.72% | -38.41% | -96.87% | 233.88% | -33.09% | -48.55% | 390.94% | -11.38% | -86.02% | 935.86% | 34.9% | 31919.5% | -103.55% | 8.57% | - |
| Book Value per Share | 3.36 | 2.01 | 5.70 | 2.28 | 4.68 | 209.60 | 90.86 | 136.24 | 270.93 | 56.62 | 62.88 | 484.02 | 50.35 | 51.42 | -0.18 | 4.60 | 4.46 |
| Total Shareholders' Equity | 43.84M | 34.23M | 56.89M | 25.13M | 40.8M | 1.14B | 403.78M | 584.46M | 1.12B | 215.94M | 246.69M | 1.77B | 180.17M | 133.56M | -419.75K | 11.83M | 10.9M |
| Common Stock | 80K | 90K | 78K | 54K | 54K | 228.78K | 22K | 151K | 149K | 21.9K | 20.59K | 142K | 19.51K | 18.81K | 84K | 13.37K | 84.26K |
| Retained Earnings | -571.81M | -591.79M | -557.91M | -570.88M | -554.5M | -2.46B | -334.27M | -1.96B | -1.31B | -131.38M | -77.05M | -335.36M | -1.83M | -27.79M | -43.97M | -30.03M | -202.9M |
| Treasury Stock | -21.6M | -21.6M | -21.6M | -21.6M | -21.6M | -137.29M | -21.6M | -143.78M | -143.78M | -22.02M | -17.75M | -8.77M | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -4.4M | -4.25M | -4.39M | -4.28M | -3.96M | -14.97M | -4.6M | 141.48M | 137.74M | 17.78M | 24.88M | 89.49M | 3.65M | 1.73M | 2.56M | 2.53M | 16.2M |
| Minority Interest | 9.98M | 496K | 9.89M | 0 | 0 | 161.25M | -13.23M | -2.2M | 18.34M | 15.25M | 14.19M | 98.47M | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity exhaustion risk
As reported in recent financial filings, SLAI's cash reserves have dwindled to a mere $1.42 million, a figure that appears insufficient to support ongoing operations given the company's persistent negative cash flow and the lack of a clear path toward near-term revenue stabilization or growth.
The current ratio of 0.99 indicates that the company's short-term assets are barely sufficient to cover its immediate liabilities, leaving virtually no margin for operational error. Investors should monitor the company's ability to secure emergency financing, as the current cash runway appears dangerously short.
Based on the company's balance sheet data, goodwill accounts for a significant portion of total assets at $8.2 million, which warrants further investigation into whether these intangible valuations remain supportable given the severe 90.40% year-over-year revenue contraction observed in the core business segments.
The concentration of value in goodwill and PPE suggests an asset-heavy model that is failing to generate the necessary returns to justify its carrying value. This composition implies that the company's asset base may be subject to future impairment charges if the current business model fails to achieve scale.
According to historical balance sheet records, retained earnings have plummeted to a deficit of $571.8 million, reflecting a long-term trend of value destruction that continues to weigh heavily on the company's total equity position and overall financial health.
The consistent accumulation of losses suggests that the company's strategic pivots have not yet resulted in a sustainable business model. The erosion of equity highlights the risk that shareholders may face further dilution if the company is forced to raise capital to cover its ongoing operational deficits.
Financial statements indicate a sudden appearance of $7.7 million in deferred revenue as of 2025Q2, which may suggest a shift in accounting recognition or a desperate attempt to front-load cash receipts from future service obligations that have yet to be fully earned.
This spike in deferred revenue warrants close scrutiny, as it may be masking the true extent of the company's underlying demand collapse. Analysts should investigate whether this represents genuine future performance obligations or merely a temporary accounting maneuver to bolster the balance sheet's appearance.
Quick answers to the most common questions about buying SLAI stock.
As of 2025, SOLAI Limited (SLAI) had total assets of $45.6M including $17.5M in current assets.
SOLAI Limited (SLAI) carries total debt of $1.9M, offset by $1.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
SOLAI Limited (SLAI) has total shareholders' equity (book value) of $34.2M ($2.01 book value per share). Book value represents the net worth of the company belonging to common stock holders.
SOLAI Limited (SLAI) reported a current ratio of 1.75x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.