Shareholder equity has been severely eroded by accumulated losses, with retained earnings plummeting to -$26.9M as of 2026Q2, signaling a fragile long-term financial foundation.
| Total Current Assets | 4.15M | 4.89M | 4.38M | 9.63M | 48.71K | 39.62K | 22.61K |
| Cash & Short-Term Investments | 3.35M | 4.23M | 3.59M | 9.35M | 21.76K | 17.62K | 22.61K |
| Cash Only | 3.35M | 4.23M | 3.59M | 9.35M | 21.76K | 17.62K | 22.61K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 175.7K | 30.65K | 217.84K | 0 | 0 | 928 | 0 |
| Days Sales Outstanding | 467.74 | 1.77K | 508.33 | - | - | 2.74 | - |
| Inventory | 54.19K | 94.67K | 60.38K | 24.09K | 20.95K | 21.07K | 0 |
| Days Inventory Outstanding | 135.76 | 581.78 | 208.26 | 886.02 | - | 57.72 | - |
| Other Current Assets | 0 | 0 | 77.32K | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 1.57M | 1.53M | 1.1M | 178.4K | 0 | 54.5K | 0 |
| Property, Plant & Equipment | 1.57M | 1.53M | 1.1M | 0 | 0 | 0 | 0 |
| Fixed Asset Turnover | 0.06x | 0.00x | 0.14x | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 39.65K | 49.77K | 178.4K | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 54.5K | 0 |
| Other Non-Current Assets | 0 | -39.65K | -49.77K | -178.4K | 0 | 0 | 0 |
| Total Assets | 5.72M | 6.43M | 5.48M | 9.81M | 48.71K | 94.12K | 22.61K |
| Asset Turnover | 0.01x | 0.00x | 0.03x | 0.00x | - | 1.32x | 4.42x |
| Asset Growth % | -31.98% | 17.19% | -44.11% | 20046.22% | -48.25% | 316.29% | - |
| Total Current Liabilities | 365.47K | 673.21K | 168.85K | 908.4K | 1.25M | 871.43K | 1.24M |
| Accounts Payable | 42.37K | 56.09K | 45.63K | 159.91K | 846.47K | 217.15K | 212.84K |
| Days Payables Outstanding | 75.89 | 344.69 | 157.38 | 5.88K | - | 594.79 | 1.44K |
| Short-Term Debt | 195.58K | 32.47K | 0 | 146.25K | 0 | 0 | 759.37K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 38.25K | 0 | 0 | -759.37K |
| Other Current Liabilities | 0 | 60.48K | 63.12K | 140.29K | 3.76K | 192K | 11.47K |
| Current Ratio | 11.35x | 7.27x | 25.94x | 10.61x | 0.04x | 0.05x | 0.02x |
| Quick Ratio | 11.21x | 7.13x | 25.58x | 10.58x | 0.02x | 0.02x | 0.02x |
| Cash Conversion Cycle | 527.6 | 2K | 559.21 | - | - | -534.33 | - |
| Total Non-Current Liabilities | 276.04K | 291.54K | 176.34K | 0 | 0 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 1.08M | 291.54K | 176.34K | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 641.52K | 964.75K | 345.19K | 908.4K | 1.25M | 871.43K | 1.24M |
| Total Debt | 537.99K | 377K | 224.3K | 146.25K | 3.76K | 179.48K | 759.37K |
| Net Debt | -2.81M | -3.85M | -3.36M | -9.21M | -18K | 161.86K | 736.76K |
| Debt / Equity | 0.11x | 0.07x | 0.04x | 0.02x | - | - | - |
| Debt / EBITDA | -0.04x | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.23x | - | - | - | - | - | - |
| Interest Coverage | -118.54x | -105.63x | -249.73x | -351.84x | -112.35x | -22.49x | -7.15x |
| Total Equity | 5.07M | 5.46M | 5.14M | 8.9M | -1.2M | -777.32K | -1.22M |
| Equity Growth % | -37.88% | 6.29% | -42.29% | 844.04% | -53.95% | 36.03% | - |
| Book Value per Share | 1.07 | 1.76 | 2.56 | 8.38 | -1.05 | -0.68 | -1.07 |
| Total Shareholders' Equity | 5.31M | 5.7M | 5.37M | 9.13M | -974.58K | -596.18K | -1.06M |
| Common Stock | 6.54K | 4.34K | 2.57K | 1.56K | 999 | 265 | 104 |
| Retained Earnings | -26.93M | -24.59M | -18.53M | -11.79M | -6.34M | -4.63M | -3.98M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 32.23M | 30.28M | 23.89M | 20.92M | 5.36M | 4.03M | 2.92M |
| Minority Interest | -238.47K | -233.97K | -227.98K | -222.4K | -222.13K | -181.13K | -159.03K |
Existential liquidity and solvency
As reported in recent financial filings, VRAX has seen total assets decline from $9.8M in 2023Q4 to $5.7M by 2026Q2, a trend that reflects the rapid depletion of resources as the company struggles to pivot its business model in a highly competitive and stagnant diagnostic market.
The contraction in the asset base suggests that the company is consuming its capital reserves to fund ongoing operating losses rather than deploying assets to generate revenue. Investors should monitor whether the remaining asset base, which is increasingly comprised of cash and limited PPE, can support any future commercial viability.
Based on the most recent quarterly data, VRAX holds $3.3M in cash, which represents a significant reduction from the $9.4M reported in 2023Q4, indicating that the company's liquidity buffer is eroding rapidly as it fails to achieve a self-sustaining level of operational cash flow.
While the current ratio of 11.35 appears high, it is largely a function of the company's minimal current liabilities rather than a sign of robust liquidity. This suggests that the firm is operating in a state of extreme capital scarcity, leaving little room for error in its ongoing attempts to commercialize its immunology platform.
According to historical balance sheet data, the company's retained earnings have plummeted to -$26.9M as of 2026Q2, a clear indicator that years of operating losses have severely eroded shareholder equity and undermined the long-term financial foundation of the enterprise.
The persistent accumulation of negative retained earnings suggests that the company has been unable to create value for shareholders since its inception. This trend warrants further investigation into whether future capital raises will be required to prevent further equity degradation, potentially leading to significant dilution for existing investors.
As evidenced by the financial statements, the company reports $1.6M in net PPE as of 2026Q2, a figure that appears disconnected from the firm's negligible revenue generation and suggests that these assets may be subject to future impairment risks if commercial traction remains elusive.
The presence of these assets on the balance sheet may provide a false sense of tangible value in a company that is primarily a distressed distributor. Analysts should consider the possibility that these assets are not contributing to core operations, potentially necessitating further write-downs that would further weaken the balance sheet.
Quick answers to the most common questions about buying VRAX stock.
As of 2025, Virax Biolabs Group Limited (VRAX) had total assets of $6.4M including $4.9M in current assets.
Virax Biolabs Group Limited (VRAX) carries total debt of $0.4M, offset by $4.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Virax Biolabs Group Limited (VRAX) has total shareholders' equity (book value) of $5.7M ($1.76 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Virax Biolabs Group Limited (VRAX) reported a current ratio of 7.27x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.