Firefly Neuroscience, Inc. (AIFF) Balance Sheet
AIFF balance sheet, 2025
December 31, 2025 · U.S. dollars$10.5M assets = $2.8M liabilities + $7.6M equity
Both columns are drawn to the same scale: what AIFF owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AIFF financial health
Descriptive bands, not a rating. Fiscal 2025.
AIFF balance sheet trends, 2020–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $3.8M2020 | $10.5M2025 | +22.7%/yr | |
| Total liabilities | $2.2M2020 | $2.8M2025 | +5.6%/yr | |
| Shareholders’ equity | $1.6M2020 | $7.6M2025 | +36.5%/yr | |
| Cash & short-term investments | $1.9M2020 | $2.7M2025 | +8.1%/yr | |
| Total debt | $495,5952020 | $694,0002024 | +8.8%/yr | |
| Net cash (debt) | $1.4M2020 | $1.1M2024 | −$246,565 | |
| Working capital | $1.6M2020 | $1.2M2025 | −$342,766 | |
| Book value per share | $0.202020 | $0.572025 | +22.5%/yr | |
| Current ratio | 1.862020 | 1.432025 | −0.43 | |
| Shares outstanding | 7.9M2020 | 13.5M2025 | +11.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AIFF assets
AIFF liabilities and equity
AIFF debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AIFF balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $2.7M | $1.8M | $2.1M | $58,000 | $653,000 | $1.9M |
| Cash & equivalents | $2.7M | $1.8M | $2.1M | $58,000 | $653,000 | $1.9M |
| Receivables | $194,000 | $121,000 | $84,000 | $19,000 | $41,000 | $1.4M |
| Inventory | $108,000 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $978,000 | $697,000 | $28,000 | $6,000 | $9,000 | $53,702 |
| Total current assets | $4.0M | $2.6M | $2.3M | $83,000 | $703,000 | $3.4M |
| Property, plant & equipment (net) | $146,000 | $136,000 | $0 | $0 | $188,000 | $113,571 |
| Goodwill & intangible assets | $6.0M | $180,000 | $386,000 | $0 | $1,000 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $268,000 | $1.7M | $0 | $52,000 | $61,000 | $306,037 |
| Total assets | $10.5M | $4.6M | $2.6M | $135,000 | $953,000 | $3.8M |
| Liabilities | ||||||
| Accounts payable | $1.3M | $1.8M | $630,000 | $420,000 | $500,000 | $103,646 |
| Short-term debt | — | $694,000 | — | — | $1.8M | $138,604 |
| Deferred revenue | $228,000 | $13,000 | — | $909,000 | $459,000 | $946,884 |
| Total current liabilities | $2.8M | $5.0M | $2.5M | $2.2M | $4.0M | $1.8M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $21,000 | $0 | $0 | $0 | $0 | $356,991 |
| Total liabilities | $2.8M | $5.0M | $2.5M | $2.2M | $4.0M | $2.2M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $1,000 | — | — | $19,000 | — | $129,042 |
| Retained earnings (deficit) | −$111.6M | −$87.1M | −$76.6M | −$73.9M | −$67.3M | −$12.3M |
| Total shareholders' equity | $7.6M | −$375,000 | $109,000 | −$2.1M | −$3.0M | $1.6M |
| Key figures | ||||||
| Total debt | — | $694,000 | — | — | $1.8M | $495,595 |
| Net cash (debt) | — | $1.1M | — | — | −$1.1M | $1.4M |
| Working capital | $1.2M | −$2.3M | −$277,000 | −$2.2M | −$3.3M | $1.6M |
| Tangible book value | $1.6M | −$555,000 | −$277,000 | −$2.1M | −$3.0M | $1.6M |
| Book value per share | $0.57 | −$0.06 | $0.01 | −$0.27 | −$0.38 | $0.20 |
| Shares outstanding | 13.5M | 6.5M | 7.9M | 7.9M | 7.9M | 7.9M |
| Current ratio | 1.43 | 0.53 | 0.89 | 0.04 | 0.18 | 1.86 |
| Quick ratio | 1.04 | 0.39 | 0.88 | 0.03 | 0.17 | 1.83 |
| Debt / equity | — | — | — | — | — | 0.31 |
| Equity / assets | 72.9% | −8.2% | 4.1% | −1,563.7% | −316.3% | 42.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $9.2M | $3.1M | $2.7M | $4.3M | $5.9M | $9.5M | $1.8M | $1.2M | $244,137 | $563,324 | $2.1M | $893,000 |
| Cash & equivalents | $9.2M | $3.1M | $2.7M | $4.3M | $5.9M | $9.5M | $1.8M | $1.2M | $244,137 | $563,324 | $2.1M | $893,000 |
| Receivables | $188,000 | $193,000 | $194,000 | $184,000 | $197,000 | $100,000 | $121,000 | $86,000 | $791,707 | $776,025 | $84,000 | $42,000 |
| Inventory | $44,000 | $103,000 | $108,000 | $80,000 | $133,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $767,000 | $1.0M | $978,000 | $841,000 | $1.3M | $732,000 | $697,000 | $1.3M | $132,804 | $161,936 | $28,000 | $12,000 |
| Total current assets | $10.2M | $4.5M | $4.0M | $5.4M | $7.5M | $10.4M | $2.6M | $2.7M | $1.2M | $1.5M | $2.3M | $947,000 |
| Property, plant & equipment (net) | $230,000 | $197,000 | $146,000 | $235,000 | $135,000 | $134,000 | $136,000 | $72,000 | $70,390 | $99,782 | $0 | $0 |
| Goodwill & intangible assets | $6.0M | $6.0M | $6.0M | $6.1M | $6.3M | $170,000 | $180,000 | $1.1M | $2.1M | $2.1M | $386,000 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $352,000 | $254,000 | $268,000 | $669,000 | $1.0M | $1.7M | $1.7M | $1.5M | $18,419 | $77,077 | $0 | $52,000 |
| Total assets | $16.8M | $10.9M | $10.5M | $12.4M | $14.9M | $12.4M | $4.6M | $5.3M | $3.3M | $3.8M | $2.6M | $999,000 |
| Liabilities | ||||||||||||
| Accounts payable | $881,000 | $1.3M | $1.3M | $1.3M | $1.5M | $1.6M | $1.8M | $1.4M | $759,229 | $662,318 | $630,000 | $432,000 |
| Short-term debt | — | — | — | — | — | — | $694,000 | — | $339,610 | $578,778 | — | — |
| Deferred revenue | — | $194,000 | $228,000 | $238,000 | $283,000 | — | $13,000 | — | $55,531 | $85,035 | — | $459,000 |
| Total current liabilities | $2.1M | $2.5M | $2.8M | $2.7M | $2.8M | $7.2M | $5.0M | $2.5M | $1.9M | $2.0M | $2.5M | $1.9M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | — | — | — | — | — | — | — | $39,610 | — | — | — |
| Other long-term liabilities | $7,000 | $13,999 | $21,000 | $31,000 | $43,000 | $0 | $0 | $0 | $16,187 | $16,186 | $0 | $0 |
| Total liabilities | $2.1M | $2.5M | $2.8M | $2.8M | $2.8M | $7.2M | $5.0M | $2.5M | $1.9M | $2.1M | $2.5M | $1.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $2,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | — | $1,000 | $73 | $2,180 | — | — |
| Retained earnings (deficit) | −$115.6M | −$113.6M | −$111.6M | −$108.9M | −$106.3M | −$104.4M | −$87.1M | −$83.3M | −$34.3M | −$33.9M | −$76.6M | −$75.4M |
| Total shareholders' equity | $14.7M | $8.4M | $7.6M | $9.7M | $12.1M | $5.2M | −$375,000 | $2.8M | $1.4M | $1.7M | $109,000 | −$913,000 |
| Key figures | ||||||||||||
| Total debt | — | — | — | — | — | — | $694,000 | — | $339,610 | $578,778 | — | — |
| Net cash (debt) | — | — | — | — | — | — | $1.1M | — | −$95,473 | −$15,454 | — | — |
| Working capital | $8.1M | $2.0M | $1.2M | $2.7M | $4.7M | $3.2M | −$2.3M | $130,000 | −$746,040 | −$538,731 | −$277,000 | −$965,000 |
| Tangible book value | $8.7M | $2.4M | $1.6M | $3.6M | $5.8M | $5.0M | −$555,000 | $1.7M | −$673,418 | −$378,059 | −$277,000 | −$913,000 |
| Book value per share | $0.71 | $0.52 | $0.57 | $0.72 | $0.96 | $0.52 | −$0.04 | $0.39 | $0.18 | $0.22 | $0.01 | −$0.12 |
| Shares outstanding | 20.6M | 16.2M | 13.5M | 13.5M | 12.7M | 10.0M | 8.4M | 7.1M | 7.9M | 7.9M | 7.9M | 7.9M |
| Current ratio | 4.87 | 1.82 | 1.43 | 2.00 | 2.69 | 1.45 | 0.53 | 1.05 | 0.61 | 0.74 | 0.89 | 0.50 |
| Quick ratio | 4.49 | 1.35 | 1.04 | 1.66 | 2.19 | 1.34 | 0.39 | 0.52 | 0.54 | 0.66 | 0.88 | 0.49 |
| Debt / equity | — | — | — | — | — | — | — | — | 0.25 | 0.34 | — | — |
| Equity / assets | 87.4% | 77.4% | 72.9% | 77.8% | 81.0% | 41.9% | −8.2% | 52.3% | 41.7% | 45.4% | 4.1% | −91.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
AIFF financial position
At the end of fiscal 2025 (December 31, 2025), Firefly Neuroscience had total assets of $10.5 million (up 127.7% from a year earlier), total liabilities of $2.8 million and shareholders' equity of $7.6 million. Its current ratio was 1.43. In the latest quarter (ended June 30, 2026) total assets were $16.8 million and equity $14.7 million.
Related: AIFF income statement, AIFF cash flow statement, AIFF key metrics. See the AIFF stock overview for the latest quote and news.
AIFF balance sheet FAQ
What are Firefly Neuroscience's total assets?
Firefly Neuroscience reported total assets of $10.5 million at the end of fiscal 2025 (December 31, 2025), compared with $4.6 million a year earlier.
How much cash does Firefly Neuroscience have?
Firefly Neuroscience held $2.7 million in cash and short-term investments at the end of fiscal 2025.
What is Firefly Neuroscience's book value?
Firefly Neuroscience's shareholders' equity (book value) was $7.6 million at the end of fiscal 2025, or $0.57 per share.
What is Firefly Neuroscience's current ratio?
Firefly Neuroscience had current assets of $4.0 million and current liabilities of $2.8 million, a current ratio of 1.43 (it can cover its short-term obligations).
How much goodwill does Firefly Neuroscience have?
Firefly Neuroscience carried $6.0 million of goodwill and intangible assets, 57.6% of total assets, at the end of fiscal 2025.