The company's financial position is increasingly precarious, characterized by a $12.3 million total debt load that exceeds its $10.5 million in total assets.
| Total Current Assets | 9.44M | 6.49M | 13.51M | 13.68M | 16.73M |
| Cash & Short-Term Investments | 2.86M | 1.02M | 4.86M | 2.82M | 4.06M |
| Cash Only | 2.86M | 1.02M | 4.86M | 2.82M | 4.06M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 2.59M | 1.44M | 3.18M | 5.04M | 6.85M |
| Days Sales Outstanding | 42.56 | 18.84 | 30.43 | 41.88 | 69.91 |
| Inventory | 2.03M | 2.4M | 3.24M | 3.54M | 4.27M |
| Days Inventory Outstanding | 63.36 | 60.11 | 52.46 | 47.74 | 68.84 |
| Other Current Assets | 1.95M | 1.62M | 1.14M | 689K | 791K |
| Total Non-Current Assets | 1.04M | 1.1M | 21K | 169K | 1.48M |
| Property, Plant & Equipment | 36K | 37K | 21K | 21K | 48K |
| Fixed Asset Turnover | 747.52x | 752.92x | 1814.19x | 2091.52x | 745.50x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 981K | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1M | 83K | 0 | 148K | 1.43M |
| Total Assets | 10.48M | 7.59M | 13.53M | 13.85M | 18.21M |
| Asset Turnover | 2.41x | 3.67x | 2.82x | 3.17x | 1.97x |
| Asset Growth % | -62.56% | -43.94% | -2.27% | -23.95% | - |
| Total Current Liabilities | 13.1M | 17.31M | 20.89M | 29.89M | 65.04M |
| Accounts Payable | 3.85M | 4.08M | 5.66M | 4.74M | 4.18M |
| Days Payables Outstanding | 115.81 | 102.05 | 91.63 | 63.94 | 67.29 |
| Short-Term Debt | 2.98M | 7.6M | 5.76M | 12.02M | 44.5M |
| Deferred Revenue (Current) | 10.31M | 1.91M | 3.32M | 2.75M | 3.8M |
| Other Current Liabilities | 3.94M | 3.71M | 4.68M | 4.87M | 4.25M |
| Current Ratio | 0.72x | 0.37x | 0.65x | 0.46x | 0.26x |
| Quick Ratio | 0.56x | 0.24x | 0.49x | 0.34x | 0.19x |
| Cash Conversion Cycle | -9.89 | -23.09 | -8.75 | 25.68 | 71.46 |
| Total Non-Current Liabilities | 22.75M | 12.78M | 7.33M | 114.43M | 641K |
| Long-Term Debt | 9.36M | 10.11M | 6.19M | 7.05M | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 13.39M | 2.35M | 819K | 107.09M | 641K |
| Total Liabilities | 35.85M | 30.09M | 28.22M | 144.32M | 65.68M |
| Total Debt | 12.34M | 17.71M | 11.96M | 19.07M | 44.5M |
| Net Debt | 9.48M | 16.69M | 7.09M | 16.25M | 40.44M |
| Debt / Equity | -0.49x | - | - | - | - |
| Debt / EBITDA | -0.60x | - | - | - | - |
| Net Debt / EBITDA | -0.46x | - | - | - | - |
| Interest Coverage | -35.60x | -16.17x | -6.39x | -3.49x | -3.09x |
| Total Equity | -25.38M | -22.51M | -14.69M | -130.47M | -47.47M |
| Equity Growth % | -32.61% | -53.24% | 88.74% | -174.86% | - |
| Book Value per Share | -18.20 | -22.47 | -112.05 | -144.53 | -52.58 |
| Total Shareholders' Equity | -25.38M | -22.51M | -14.69M | -130.47M | -47.47M |
| Common Stock | 1K | 0 | 0 | 0 | 0 |
| Retained Earnings | -322.35M | -315.79M | -290.4M | -269.58M | -256.54M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 100K | 143K | 329K | 228K | 164K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and insolvency
As reported in recent financial statements, zSpace's equity has plummeted to a deficit of $25.4 million in 2026Q1, reflecting a multi-year trend of value destruction that underscores the company's inability to stabilize its balance sheet amidst ongoing operational losses and a shrinking asset base.
The consistent expansion of the accumulated deficit suggests that the business model has failed to achieve the necessary scale to offset its fixed cost structure. Investors should monitor the widening gap between liabilities and assets, which indicates that the company is effectively operating on borrowed time and capital.
Based on the latest quarterly filings, zSpace maintains a current ratio of only 0.72, with cash reserves of $2.9 million appearing insufficient to cover the company's substantial operating liabilities and ongoing cash burn requirements in the current high-stakes K-12 procurement environment.
A current ratio consistently below 1.0 indicates a structural inability to meet short-term obligations without relying on external financing or aggressive working capital management. This liquidity profile suggests that the company remains highly susceptible to even minor disruptions in its seasonal revenue collection cycles.
According to the 2026Q1 balance sheet, zSpace carries $12.3 million in total debt, a figure that appears disproportionately high relative to its $10.5 million in total assets, signaling a precarious leverage position that limits strategic flexibility and increases the risk of default.
The reliance on debt to fund operations while equity remains deeply negative suggests that the company is in a state of financial distress. This capital structure warrants further investigation into the terms of these obligations, as refinancing risks are likely elevated given the company's poor profitability trajectory.
As indicated by recent balance sheet data, deferred revenue has fluctuated and currently sits at $2.3 million, which may suggest a weakening pipeline of future software renewals and service obligations as the company struggles to maintain its footprint in the competitive educational technology sector.
Deferred revenue is a critical indicator of future performance, and its stagnation or decline often precedes top-line contraction. The inability to grow this balance suggests that the company is failing to secure long-term commitments from school districts, which is essential for stabilizing its recurring revenue base.
Quick answers to the most common questions about buying ZSPC stock.
As of 2025, zSpace, Inc. (ZSPC) had total assets of $7.6M including $6.5M in current assets.
zSpace, Inc. (ZSPC) carries total debt of $17.7M, offset by $1.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
zSpace, Inc. (ZSPC) has total shareholders' equity (book value) of $-22.5M ($-22.47 book value per share). Book value represents the net worth of the company belonging to common stock holders.
zSpace, Inc. (ZSPC) reported a current ratio of 0.37x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.