The company's financial stability is severely compromised, evidenced by a current ratio of 0.02 and a debt-to-equity ratio that surged to 1.74 in 2025Q2.
| Total Current Assets | 166.35K | 177.66K | 866.43K | 862.39K |
| Cash & Short-Term Investments | 102.48K | 28.07K | 139.41K | 439.43K |
| Cash Only | 102.48K | 28.07K | 139.41K | 439.43K |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Accounts Receivable | 31.82K | 86.04K | 666.46K | 347.09K |
| Days Sales Outstanding | 26.52 | 24.25 | 167.46 | 825.84 |
| Inventory | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - |
| Other Current Assets | 32.05K | 63.56K | 60.56K | 75.87K |
| Total Non-Current Assets | 12.77M | 13.79M | 15.8M | 17.78M |
| Property, Plant & Equipment | 30.55K | 35.85K | 40.32K | 18.15K |
| Fixed Asset Turnover | 24.43x | 36.11x | 36.03x | 8.45x |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 12.74M | 13.76M | 15.76M | 17.76M |
| Long-Term Investments | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 |
| Total Assets | 12.94M | 13.97M | 16.67M | 18.64M |
| Asset Turnover | 0.06x | 0.09x | 0.09x | 0.01x |
| Asset Growth % | 0% | -16.19% | -10.59% | - |
| Total Current Liabilities | 8.83M | 6.16M | 11.07M | 7.78M |
| Accounts Payable | 1.81M | 1.63M | 1.06M | 1.22M |
| Days Payables Outstanding | 109.25 | 106.19 | 14.42 | 3.26K |
| Short-Term Debt | 6.46M | 4.26M | 9.4M | 6.36M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 564.45K | 0 | 0 | 0 |
| Current Ratio | 0.02x | 0.03x | 0.08x | 0.11x |
| Quick Ratio | 0.02x | 0.03x | 0.08x | 0.11x |
| Cash Conversion Cycle | -82.73 | - | - | - |
| Total Non-Current Liabilities | 389.84K | 390.3K | 390.3K | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 389.84K | 390.3K | 390.3K | 0 |
| Total Liabilities | 9.22M | 6.55M | 11.46M | 7.78M |
| Total Debt | 6.46M | 4.26M | 9.4M | 6.36M |
| Net Debt | 6.36M | 4.23M | 9.26M | 5.93M |
| Debt / Equity | 1.74x | 0.57x | 1.80x | 0.59x |
| Debt / EBITDA | -0.81x | - | - | - |
| Net Debt / EBITDA | -0.79x | - | - | - |
| Interest Coverage | -19.88x | -16.48x | -126.60x | -32.76x |
| Total Equity | 3.72M | 7.43M | 5.21M | 10.86M |
| Equity Growth % | 0% | 42.51% | -52.03% | - |
| Book Value per Share | 0.16 | 0.32 | 0.22 | 0.47 |
| Total Shareholders' Equity | 3.72M | 7.43M | 5.21M | 10.86M |
| Common Stock | 91.65M | 91.49M | 77.2M | 20.78M |
| Retained Earnings | -87.93M | -84.06M | -71.99M | -9.92M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
Imminent liquidity exhaustion
As reported in recent financial statements, WSHP's equity base has contracted significantly from $7.4M in 2024Q4 to $3.7M in 2025Q2, signaling a rapid deterioration in the company's net worth as persistent operating losses continue to consume the firm's remaining capital resources at an alarming rate.
The sharp decline in equity suggests that the company is failing to stabilize its financial position, with losses directly eroding the shareholder base. This trajectory implies that the business model is currently incapable of self-funding, necessitating a reliance on external capital that appears increasingly difficult to secure.
Based on the company's 2025Q2 balance sheet, goodwill accounts for $12.7M of the $12.9M total assets, indicating that the firm's asset base is almost entirely composed of intangible valuations rather than tangible, revenue-generating infrastructure or liquid resources available to support ongoing operations.
The heavy concentration of goodwill relative to total assets suggests that the company's valuation is highly sensitive to impairment risks, which could further destabilize the balance sheet. Investors should monitor whether these intangible assets retain any real-world value given the company's inability to generate positive cash flow from its core operations.
According to the latest quarterly filings, WSHP's current ratio has plummeted to a precarious 0.02, reflecting a severe liquidity crisis where cash reserves of only $102.5K are vastly insufficient to cover the company's mounting short-term liabilities and ongoing operational cash burn requirements.
This extreme liquidity constraint suggests that the company is operating on the brink of insolvency, with virtually no buffer to absorb unexpected shocks or fund necessary working capital. The reliance on payables to sustain operations appears to be reaching a breaking point, warranting significant concern regarding business continuity.
As indicated by the 2025Q2 data, the company's debt-to-equity ratio has surged to 1.74, up from 0.57 in 2024Q4, which suggests that management is increasingly relying on debt financing to bridge the widening gap between operational costs and the firm's rapidly declining revenue generation capacity.
The increase in leverage, despite the company's inability to achieve gross profitability, indicates a high-risk strategy that likely compounds the firm's financial fragility. This rising debt burden may limit future financing flexibility and suggests that the company is struggling to manage its capital structure in a sustainable manner.
Based on reported figures, the combination of a $87.9M accumulated deficit and a near-zero cash position suggests that the company's headline equity is largely theoretical, potentially masking a total loss of tangible value that could be triggered by any further decline in operational performance.
The massive accumulated deficit highlights a long-term pattern of value destruction that makes the current equity position appear highly misleading. Investors should consider that the company's survival likely depends on continuous, dilutive capital injections rather than any inherent strength in the underlying balance sheet.
Quick answers to the most common questions about buying WSHP stock.
As of 2024, WeShop Holdings Limited Class A Ordinary Shares (WSHP) had total assets of $14.0M including $0.2M in current assets.
WeShop Holdings Limited Class A Ordinary Shares (WSHP) carries total debt of $4.3M, offset by $0.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
WeShop Holdings Limited Class A Ordinary Shares (WSHP) has total shareholders' equity (book value) of $7.4M ($0.32 book value per share). Book value represents the net worth of the company belonging to common stock holders.
WeShop Holdings Limited Class A Ordinary Shares (WSHP) reported a current ratio of 0.03x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.