Financial solvency is severely compromised with a current ratio of 0.14 and a shareholder equity deficit of $6.8 million, indicating a precarious reliance on external financing.
| Total Current Assets | 796.21K | 1.66M | 3.99M | 1.4M | 422.24K |
| Cash & Short-Term Investments | 150.33K | 194.11K | 1.81M | 945.26K | 273.59K |
| Cash Only | 150.33K | 194.11K | 1.81M | 945.26K | 273.59K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 5.5K | 12.32K | 426.47K | 90.14K | 143.95K |
| Days Sales Outstanding | 16.29 | 9.66 | 104.96 | 26.05 | 79.96 |
| Inventory | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - |
| Other Current Assets | 162.6K | 138.74K | 1.39M | 268.51K | 0 |
| Total Non-Current Assets | 4.55M | 1.37M | 1.84M | 1.6M | 84.21K |
| Property, Plant & Equipment | 1.13M | 1.13M | 1.84M | 1.6M | 84.21K |
| Fixed Asset Turnover | 0.11x | 0.41x | 0.81x | 0.79x | 7.80x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 3.33M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 243.04K | 0 | 0 | 0 |
| Total Assets | 5.34M | 3.03M | 5.83M | 3M | 506.45K |
| Asset Turnover | 0.02x | 0.15x | 0.25x | 0.42x | 1.30x |
| Asset Growth % | 76.09% | -47.95% | 94.07% | 493.14% | - |
| Total Current Liabilities | 5.57M | 1.35M | 2.01M | 2.64M | 424.66K |
| Accounts Payable | 972.33K | 322.03K | 202.29K | 218.22K | 51.87K |
| Days Payables Outstanding | 821.59 | 253.17 | 60.67 | 79.6 | 41.46 |
| Short-Term Debt | 1.22M | 59.89K | 73.81K | 661.62K | 72.85K |
| Deferred Revenue (Current) | 518.01K | 409.65K | 572.19K | 654.06K | 192.94K |
| Other Current Liabilities | 1.66M | 0 | 0 | 0 | 0 |
| Current Ratio | 0.14x | 1.23x | 1.98x | 0.53x | 0.99x |
| Quick Ratio | 0.14x | 1.23x | 1.98x | 0.53x | 0.99x |
| Cash Conversion Cycle | - | - | - | - | - |
| Total Non-Current Liabilities | 6.54M | 2.07M | 1.39M | 1.69M | 46.68K |
| Long-Term Debt | 6.09M | 1.4M | 176.59K | 498.57K | 34.34K |
| Capital Lease Obligations | 448.65K | 628.5K | 1.21M | 1.19M | 12.34K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 41.12K | 0 | 0 | 0 |
| Total Liabilities | 12.1M | 3.42M | 3.4M | 4.33M | 471.33K |
| Total Debt | 8.29M | 2.45M | 1.89M | 2.63M | 143.74K |
| Net Debt | 8.13M | 2.26M | 81.03K | 1.68M | -129.85K |
| Debt / Equity | - | - | 0.78x | - | 4.09x |
| Debt / EBITDA | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - |
| Interest Coverage | -75.83x | -182.77x | -101.41x | -234.00x | 78.87x |
| Total Equity | -6.76M | -381.06K | 2.43M | -1.32M | 35.12K |
| Equity Growth % | -1674.2% | -115.66% | 283.63% | -3872.28% | - |
| Book Value per Share | -2.27 | -0.12 | 0.86 | -0.41 | 0.01 |
| Total Shareholders' Equity | -6.76M | -381.06K | 2.43M | -1.32M | 35.12K |
| Common Stock | 9.21K | 5.16K | 5.02K | 4.1K | 4.1K |
| Retained Earnings | -37.07M | -14.31M | -6.18M | -1.32M | 35.35K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -290.57K | -83.49K | 184.49K | -37.79K | -306 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Imminent insolvency and liquidity
As reported in recent financial filings, TDTH's equity position has deteriorated into a deep deficit of $6.8 million by 2025Q4, signaling a rapid erosion of shareholder value that appears to be driven by persistent operating losses and an inability to stabilize the company's capital structure.
The shift from a positive equity position in 2024Q2 to a significant deficit suggests that the company is consuming its remaining resources at an unsustainable rate. This trajectory implies that the business model is currently failing to generate the necessary returns to offset its mounting liabilities.
Based on the latest balance sheet data, TDTH carries $8.3 million in total debt, which significantly outweighs its $5.3 million in total assets, indicating that the firm is operating under a highly leveraged and precarious financial position that warrants extreme caution from potential investors.
The reliance on debt to fund operations while revenue is contracting suggests that the company may be struggling to secure non-dilutive financing. This leverage profile implies that any further decline in asset value could lead to a total breach of solvency covenants.
According to the 2025Q4 financial statements, the company's current ratio has plummeted to a precarious 0.14, reflecting a severe lack of liquidity that leaves the firm with minimal cash reserves of only $150,334 to cover its immediate short-term obligations and ongoing operational burn.
A current ratio of this magnitude suggests that the company is effectively unable to meet its near-term liabilities without immediate external capital injections. This liquidity crunch appears to be the most immediate threat to the company's status as a going concern.
As evidenced by the reported figures, TDTH's retained earnings have fallen to -$37.1 million, a trend that highlights the cumulative impact of years of operating losses and suggests that the company's equity base has been entirely wiped out by its inability to achieve profitability.
The negative equity position indicates that the company is effectively insolvent on a book value basis. Investors should monitor whether management attempts to address this through dilutive equity raises, which would further impair the value for existing shareholders.
While the company reports $1.1 million in net PPE, the lack of revenue growth suggests these assets may be significantly overvalued, as the firm's inability to monetize its infrastructure implies a high risk of future impairment charges that could further erode the balance sheet.
The disconnect between the reported asset base and the company's actual revenue generation suggests that the book value of these assets may not reflect their true economic utility. This warrants further investigation into whether these assets are truly productive or merely sunk costs.
Quick answers to the most common questions about buying TDTH stock.
As of 2025, Trident Digital Tech Holdings Ltd (TDTH) had total assets of $5.3M including $0.8M in current assets.
Trident Digital Tech Holdings Ltd (TDTH) carries total debt of $8.3M, offset by $0.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Trident Digital Tech Holdings Ltd (TDTH) has total shareholders' equity (book value) of $-6.8M ($-2.27 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Trident Digital Tech Holdings Ltd (TDTH) reported a current ratio of 0.14x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.