Shareholders' equity has eroded significantly, falling from $10.5 million in 2025Q4 to $4.4 million in 2026Q3, reflecting persistent value destruction.
| Metric | TTM | Mar'25 | Mar'24 | Mar'23 | Mar'22 | Mar'21 | Mar'20 | Mar'19 | Mar'18 | Mar'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 | Mar'11 |
|---|
| Total Current Assets | 6.04M | 12.13M | 3.94M | 17.05M | 29.53M | 38.4M | 28.32M | 38.57M | 46.76M | 65.09M | 63.65M | 51.26M | 49.16M | 15.87M | 4.28K |
| Cash & Short-Term Investments | 4.29M | 11.31M | 2.9M | 16.01M | 28.68M | 37.36M | 27.36M | 36.48M | 43.73M | 62.75M | 62.09M | 50.14M | 48.17M | 14.82M | 1.77K |
| Cash Only | 4.29M | 11.31M | 2.9M | 15.3M | 28.68M | 37.36M | 27.36M | 36.48M | 43.73M | 62.75M | 62.09M | 50.14M | 48.17M | 14.82M | 1.77K |
| Short-Term Investments | 0 | 0 | 0 | 706K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.04M | 30K | 33K | 152K | 0 | 0 | 111K | 558K | 1.03M | 647K | 259K | 0 | 0 | 162K | 0 |
| Days Sales Outstanding | 731.29 | 76.04 | 110.5 | 149.95 | - | - | 18.45 | 65.89 | 81.52 | 55.83 | 63.75 | - | - | 49.4 | - |
| Inventory | 0 | 0 | 297K | 0 | 0 | 0 | 0 | 490K | 842K | 550K | 334K | 66K | 63K | 360K | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | 371.06 | 298.38 | 209.99 | - | - | - | - | - |
| Other Current Assets | 709K | 12K | 4K | 69K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 919K | 2.52M | 2.41M | 3.27M | 3.76M | 1.52M | 123K | 2.05M | 3.07M | 4.09M | 3.92M | 2.23M | 1.02M | 883K | 0 |
| Property, Plant & Equipment | 773K | 1.29M | 1.97M | 2.61M | 2.81M | 381K | 0 | 1.83M | 2.79M | 3.84M | 3.71M | 2.04M | 857K | 714K | 0 |
| Fixed Asset Turnover | 0.14x | 0.11x | 0.06x | 0.14x | 0.53x | - | - | 1.69x | 1.65x | 1.10x | 0.40x | 0.28x | 0.44x | 1.68x | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 146K | 1.23M | 445K | 658K | 948K | 1.14M | 123K | 217K | 279K | 248K | 213K | 185K | 168K | 169K | 0 |
| Total Assets | 6.96M | 14.65M | 6.35M | 20.31M | 33.3M | 39.92M | 28.44M | 40.62M | 49.83M | 69.18M | 67.58M | 53.49M | 50.19M | 16.75M | 4.28K |
| Asset Turnover | 0.01x | 0.01x | 0.02x | 0.02x | 0.05x | - | 0.08x | 0.08x | 0.09x | 0.06x | 0.02x | 0.01x | 0.01x | 0.07x | - |
| Asset Growth % | 281.7% | 130.75% | -68.74% | -38.99% | -16.59% | 40.35% | -29.99% | -18.47% | -27.97% | 2.37% | 26.34% | 6.58% | 199.64% | 391689.47% | - |
| Total Current Liabilities | 2.48M | 3.74M | 1.86M | 3.67M | 1.38M | 721K | 1.81M | 3.74M | 4.66M | 6.01M | 4.49M | 4.76M | 1.89M | 22.04M | 10.69K |
| Accounts Payable | 671K | 1.64M | 627K | 331K | 415K | 281K | 720K | 628K | 464K | 1.17M | 787K | 1.39M | 326K | 425K | 10.69K |
| Days Payables Outstanding | - | 120.01K | - | - | - | - | 801.22 | 475.56 | 164.43 | 447.09 | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 525K | 668K | 582K | 1.11M | 227K | 13K | 0 | 0 |
| Other Current Liabilities | 685K | 998K | 536K | 609K | 434K | 378K | 829K | 2.19M | 2.92M | 3.48M | 2.36M | 2.8M | 1.23M | 21.53M | 0 |
| Current Ratio | 2.44x | 3.25x | 2.12x | 4.64x | 21.35x | 53.26x | 15.65x | 10.32x | 10.04x | 10.83x | 14.18x | 10.77x | 25.97x | 0.72x | 0.40x |
| Quick Ratio | 2.44x | 3.25x | 1.96x | 4.64x | 21.35x | 53.26x | 15.65x | 10.19x | 9.86x | 10.74x | 14.10x | 10.75x | 25.94x | 0.70x | 0.40x |
| Cash Conversion Cycle | 731.29 | - | - | - | - | - | - | -38.61 | 215.47 | -181.27 | - | - | - | - | - |
| Total Non-Current Liabilities | 44K | 421K | 888K | 1.31M | 1.7M | 0 | 0 | 588K | 583K | 807K | 905K | 32K | 9K | 17K | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 935K | 421K | 888K | 1.31M | 1.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5K | 17K | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 588K | 564K | 749K | 905K | 0 | 0 | 0 | 0 |
| Total Liabilities | 2.52M | 4.16M | 2.75M | 4.98M | 3.09M | 721K | 1.81M | 4.33M | 5.24M | 6.82M | 5.39M | 4.79M | 1.9M | 22.05M | 10.69K |
| Total Debt | 577K | 942K | 1.39M | 1.8M | 2.18M | 0 | 0 | 0 | 0 | 0 | 0 | 5K | 15K | 27K | 0 |
| Net Debt | -3.71M | -10.37M | -1.51M | -13.5M | -26.49M | -37.36M | -27.36M | -36.48M | -43.73M | -62.75M | -62.09M | -50.14M | -48.15M | -14.79M | -1.77K |
| Debt / Equity | 0.13x | 0.09x | 0.39x | 0.12x | 0.07x | - | - | - | - | - | - | 0.00x | 0.00x | - | - |
| Debt / EBITDA | -0.05x | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.33x | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -93.23x | -247.60x | - | - | - | - | - | - | - | - | - | -30081.00x | -1987.31x | -39.03x | - |
| Total Equity | 4.44M | 10.49M | 3.6M | 15.33M | 30.21M | 39.2M | 26.63M | 36.3M | 44.59M | 62.36M | 62.18M | 48.7M | 48.28M | -5.3M | -6.42K |
| Equity Growth % | 1446.57% | 191.36% | -76.51% | -49.26% | -22.93% | 47.18% | -26.63% | -18.59% | -28.5% | 0.29% | 27.69% | 0.85% | 1010.5% | -82539.86% | - |
| Book Value per Share | 3.03 | 7.17 | 4.73 | 21.11 | 41.65 | 68.15 | 49.33 | 75.50 | 99.78 | 153.09 | 165.71 | 146.73 | 158.44 | -29.50 | -0.02 |
| Total Shareholders' Equity | 4.44M | 10.49M | 3.6M | 15.33M | 30.21M | 39.2M | 26.63M | 36.3M | 44.59M | 62.36M | 62.18M | 48.7M | 48.28M | -5.3M | -6.42K |
| Common Stock | 3K | 2K | 10K | 9K | 9K | 9K | 7K | 124K | 111K | 104K | 92K | 82K | 78K | 59K | 680 |
| Retained Earnings | -350.24M | -342.16M | -339.67M | -325M | -307.74M | -296.29M | -279.46M | -260.75M | -234.12M | -199.32M | -160.87M | -122.3M | -92.21M | -50.24M | -185.74K |
| Treasury Stock | 0 | -1K | -1K | -1K | -1K | -1K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 2K | 0 | 0 | 0 | 0 | 0 | -11K | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and dilution
As reported in recent financial statements, VIVS has seen its total assets contract from $14.7 million in 2025Q4 to $7.0 million by 2026Q3, a trend that highlights the rapid depletion of resources required to sustain the company's ongoing research and development activities.
The consistent decline in total assets over the last four quarters suggests that the company is consuming its capital base at an unsustainable rate. This trajectory implies that without a significant infusion of external capital, the firm's ability to maintain its current operational footprint will be severely compromised.
Based on the latest quarterly data, VIVS's cash position has dwindled to $4.3 million as of 2026Q3, down from $11.3 million in 2025Q4, which indicates a rapidly tightening liquidity buffer that may necessitate immediate financing to avoid operational insolvency.
The current ratio of 2.44, while appearing superficially healthy, masks the reality that the company lacks a recurring revenue stream to replenish its cash reserves. Investors should monitor the burn rate closely, as the current cash balance provides a very limited window for the company to achieve meaningful clinical milestones.
According to historical balance sheet figures, shareholders' equity has plummeted from $10.5 million in 2025Q4 to $4.4 million in 2026Q3, reflecting the persistent accumulation of losses that continue to erode the company's book value and overall financial standing.
The consistent negative retained earnings, now exceeding $350 million, underscore a long-term pattern of value destruction that has left the equity base highly fragile. This erosion suggests that the company's primary method of funding has been the consumption of capital rather than the creation of sustainable enterprise value.
As evidenced by the balance sheet, the company's reliance on a shrinking cash pile and minimal tangible assets, with net PPE falling to $773,000, suggests that the firm possesses very little collateral value to support future debt-based financing efforts.
The lack of significant tangible assets means that the company's valuation is almost entirely dependent on the speculative success of its clinical pipeline. This creates a binary risk profile where any failure in the development of FXR314 could result in a near-total loss of the remaining book value.
Quick answers to the most common questions about buying VIVS stock.
As of 2025, VivoSim Labs, Inc. (VIVS) had total assets of $14.7M including $12.1M in current assets.
VivoSim Labs, Inc. (VIVS) carries total debt of $0.9M, offset by $11.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
VivoSim Labs, Inc. (VIVS) has total shareholders' equity (book value) of $10.5M ($7.17 book value per share). Book value represents the net worth of the company belonging to common stock holders.
VivoSim Labs, Inc. (VIVS) reported a current ratio of 3.25x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.