Despite a $17.2M cash position, the company's equity base is severely undermined by a cumulative deficit in retained earnings of -$22.3M as of 2024Q4.
| Total Current Assets | 39.01M | 7.87M | 1.44M | 2.1M | 3.46M | 2.89M |
| Cash & Short-Term Investments | 17.21M | 7.24M | 558.39K | 999.23K | 847.39K | 640.99K |
| Cash Only | 17.21M | 7.24M | 558.39K | 999.23K | 847.39K | 640.99K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 20.8M | 576.93K | 847.68K | 1.05M | 2.2M | 2.23M |
| Days Sales Outstanding | 2.11K | 72.53 | 50.39 | 39.82 | 127.74 | 124.97 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | -165.83K | 19.16K | 0 | 21.77K | 365.62K | 5.54K |
| Total Non-Current Assets | 13.04M | 141.18K | 1.03M | 961.35K | 52.88K | 203.31K |
| Property, Plant & Equipment | 1.25M | 110.23K | 29.9K | 109.66K | 34.44K | 155K |
| Fixed Asset Turnover | 2.88x | 26.34x | 205.37x | 87.73x | 182.90x | 42.01x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 10.71M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.04M | 21.89K | 983.8K | 840.36K | 17.38K | 17.42K |
| Total Assets | 52.05M | 8.01M | 2.46M | 3.06M | 3.51M | 3.09M |
| Asset Turnover | 0.07x | 0.36x | 2.49x | 3.15x | 1.79x | 2.11x |
| Asset Growth % | 550.12% | 225.11% | -19.45% | -12.89% | 13.47% | - |
| Total Current Liabilities | 31.84M | 953.47K | 1.13M | 1.46M | 1.59M | 2.02M |
| Accounts Payable | 416.11K | 451.21K | 752.49K | 976.36K | 591.54K | 374.46K |
| Days Payables Outstanding | 47 | 78.98 | 56.49 | 43.61 | 42.23 | 23.84 |
| Short-Term Debt | 1.2M | 164.74K | 151.54K | 147.64K | 121K | 1.32M |
| Deferred Revenue (Current) | 49.99K | 11.43K | 14.38K | 37.36K | 522.03K | 123.7K |
| Other Current Liabilities | 30.08M | 0 | 0 | 0 | 0 | 200.8K |
| Current Ratio | 1.23x | 8.25x | 1.27x | 1.44x | 2.17x | 1.43x |
| Quick Ratio | 1.23x | 8.25x | 1.27x | 1.44x | 2.17x | 1.43x |
| Cash Conversion Cycle | - | - | - | - | - | - |
| Total Non-Current Liabilities | 385.5K | 87.92K | 237.32K | 394.31K | 427.67K | 5.78K |
| Long-Term Debt | 122.89K | 80.64K | 237.32K | 387.07K | 427.67K | 0 |
| Capital Lease Obligations | 262.61K | 7.28K | 0 | 7.25K | 0 | 5.78K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | -1 | 0 | 0 | 0 |
| Total Liabilities | 32.22M | 1.04M | 1.37M | 1.85M | 2.02M | 2.02M |
| Total Debt | 1.58M | 338.29K | 396.13K | 627.61K | 554.44K | 1.32M |
| Net Debt | -15.62M | -6.91M | -162.25K | -371.62K | -292.95K | 683.95K |
| Debt / Equity | 0.08x | 0.05x | 0.36x | 0.52x | 0.37x | 1.24x |
| Debt / EBITDA | - | - | - | - | 1.40x | - |
| Net Debt / EBITDA | - | - | - | - | -0.74x | - |
| Interest Coverage | -1732.94x | -89.49x | -6.48x | -14.30x | 42.57x | - |
| Total Equity | 19.83M | 6.96M | 1.09M | 1.2M | 1.49M | 1.07M |
| Equity Growth % | 184.69% | 537.43% | -9.26% | -19.25% | 39.45% | - |
| Book Value per Share | 1.32 | 0.63 | 0.09 | 0.08 | 0.10 | 0.08 |
| Total Shareholders' Equity | 19.83M | 6.96M | 1.09M | 1.2M | 1.49M | 1.07M |
| Common Stock | 33.1M | 6.71M | 1K | 1K | 1K | 1K |
| Retained Earnings | -22.32M | -1.1M | -247.29K | -132.91K | 140.7K | -284.43K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 67.11K | 17.53K | -329 | -3.26K | 10.2K | 13.5K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Rapid Cash Burn Depletion
As reported in recent financial filings, SUPX expanded its total assets to $52.1M by 2024Q4, yet this growth appears driven by capital injections rather than operational success, as evidenced by the persistent accumulation of negative retained earnings which reached -$22.3M in the same period.
The rapid increase in total assets from $2.5M in 2022Q4 to $52.1M in 2024Q4 suggests a significant influx of external capital, likely intended to fund the company's pivot. However, the simultaneous deepening of negative retained earnings indicates that this capital is being consumed by operational losses rather than being deployed into productive, income-generating assets.
Based on the company's 2024Q4 balance sheet, the $17.2M cash position provides a temporary buffer, but the current ratio of 1.23 suggests that liquidity is tightening rapidly as the firm struggles to balance its massive operating overhead against its limited revenue-generating capacity.
While the $17.2M cash balance appears substantial, it must be viewed in the context of the company's -334% operating margin. Investors should monitor whether this liquidity is being preserved for strategic technology development or if it is being rapidly eroded by the legacy business's inability to achieve break-even operations.
According to the provided financial data, the company's equity base of $19.8M as of 2024Q4 is heavily undermined by a cumulative deficit in retained earnings, which reflects years of value destruction that the recent rebranding to SuperX AI Technology has yet to reverse.
The reliance on equity financing to sustain operations is evident, as the company has consistently failed to generate positive retained earnings. This suggests that shareholders are effectively funding the company's ongoing operating losses, and the lack of a clear path to profitability makes the current equity valuation appear highly speculative.
As indicated by the 2024Q4 balance sheet, the absence of goodwill and minimal PPE of $1.2M suggests that the company's asset base is almost entirely liquid, which may be misleading if the firm is forced to liquidate assets to cover its mounting operational liabilities.
The lack of tangible assets or goodwill implies that the company has little in the way of a physical or intellectual property moat to fall back on if the AI pivot fails. This makes the company's valuation almost entirely dependent on its remaining cash, which is currently being depleted at an unsustainable rate.
Quick answers to the most common questions about buying SUPX stock.
As of 2024, SuperX AI Technology Limited (SUPX) had total assets of $52.1M including $39.0M in current assets.
SuperX AI Technology Limited (SUPX) carries total debt of $1.6M, 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.
SuperX AI Technology Limited (SUPX) has total shareholders' equity (book value) of $19.8M ($1.32 book value per share). Book value represents the net worth of the company belonging to common stock holders.
SuperX AI Technology Limited (SUPX) reported a current ratio of 1.23x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.