Arqit Quantum Inc. (ARQQ) Balance Sheet
ARQQ balance sheet, FY2025
September 30, 2025 · U.S. dollars$42.9M assets = $15.6M liabilities + $27.2M equity
Both columns are drawn to the same scale: what ARQQ owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ARQQ financial health
Descriptive bands, not a rating. Fiscal FY2025.
ARQQ balance sheet trends, FY2019–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $9.2MFY2019 | $42.9MFY2025 | +29.3%/yr | |
| Total liabilities | $7.9MFY2019 | $15.6MFY2025 | +12.1%/yr | |
| Shareholders’ equity | $1.3MFY2019 | $27.2MFY2025 | +65.6%/yr | |
| Cash & short-term investments | $4.2MFY2019 | $37.0MFY2025 | +43.5%/yr | |
| Total debt | $3.3MFY2019 | $719,000FY2025 | −22.4%/yr | |
| Net cash (debt) | $929,056FY2019 | $36.3MFY2025 | +$35.3M | |
| Working capital | $1.3MFY2019 | $25.1MFY2025 | +$23.8M | |
| Book value per share | $16.11FY2022 | $1.98FY2025 | −50.3%/yr | |
| Current ratio | 1.35FY2019 | 2.69FY2025 | +1.34 | |
| Debt / equity | 2.49FY2019 | 0.03FY2025 | −2.47 | |
| Shares outstanding | 4.9MFY2022 | 13.8MFY2025 | +41.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ARQQ assets
ARQQ liabilities and equity
ARQQ debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ARQQ balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $37.0M | $18.7M | $44.5M | $49.0M | $87.0M | $195,000 | $4.2M |
| Cash & equivalents | $37.0M | $18.7M | $44.5M | $49.0M | $87.0M | $195,000 | $4.2M |
| Receivables | $3.0M | $471,000 | $3.2M | $7.7M | $913,182 | $151,000 | $883,522 |
| Inventory | $0 | $0 | $0 | $1 | $2.1M | −$151,000 | −$883,521 |
| Other current assets | $0 | $4.5M | $38.7M | $0 | $280,590 | $280,000 | $897,424 |
| Total current assets | $40.0M | $23.7M | $86.3M | $56.6M | $90.3M | $475,000 | $5.1M |
| Property, plant & equipment (net) | $720,000 | $1.1M | $8.1M | $8.3M | $198,848 | $27,000 | $5,084 |
| Goodwill & intangible assets | $1.4M | $1.7M | $3.4M | $40.3M | $18.2M | $8.8M | $4.0M |
| Long-term investments | $0 | $0 | $30,000 | $28,000 | $33,685 | $32,301 | $0 |
| Other non-current assets | $719,000 | $202,000 | $1.9M | $18.6M | $5.0M | $0 | $0 |
| Total assets | $42.9M | $26.7M | $99.8M | $123.9M | $113.7M | $9.3M | $9.2M |
| Liabilities | |||||||
| Accounts payable | $47,000 | $9.0M | $11.8M | $17.5M | $9.7M | $257,000 | $252,768 |
| Short-term debt | $265,000 | $286,000 | $2.1M | $1.2M | — | $5.5M | — |
| Deferred revenue | $444,000 | $4,000 | $18,000 | $225,000 | $2.7M | $1.6M | $1.5M |
| Total current liabilities | $14.9M | $12.2M | $26.8M | $23.8M | $17.1M | $7.8M | $3.8M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $3.3M |
| Lease obligations | $719,000 | $990,000 | $8.4M | $7.8M | $0 | $0 | — |
| Other long-term liabilities | $715,000 | $2.7M | $6.3M | $21.5M | $130.5M | $534,000 | $757,414 |
| Total liabilities | $15.6M | $14.9M | $33.1M | $45.3M | $147.6M | $8.4M | $7.9M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $38,000 | $29,000 | $16,000 | $12,000 | $11,007 | $863 | $158 |
| Retained earnings (deficit) | −$373.8M | −$332.1M | −$277.5M | −$207.1M | −$272.2M | −$486,000 | $82,825 |
| Accumulated other comprehensive income | $156.3M | $157.4M | $207.1M | $170.2M | $167.1M | $1.4M | $1.2M |
| Total shareholders' equity | $27.2M | $11.8M | $66.7M | $78.6M | −$33.8M | $931,000 | $1.3M |
| Key figures | |||||||
| Total debt | $719,000 | $990,000 | $8.4M | $7.8M | — | $5.5M | $3.3M |
| Net cash (debt) | $36.3M | $17.7M | $36.1M | $41.1M | — | −$5.3M | $929,056 |
| Working capital | $25.1M | $11.5M | $59.5M | $32.8M | $73.2M | −$7.4M | $1.3M |
| Tangible book value | $25.8M | $10.1M | $63.2M | $38.3M | −$52.1M | −$7.8M | −$2.7M |
| Book value per share | $1.98 | $2.34 | $12.67 | $16.11 | — | — | — |
| Shares outstanding | 13.8M | 5.1M | 5.3M | 4.9M | — | — | — |
| Current ratio | 2.69 | 1.94 | 3.22 | 2.38 | 5.29 | 0.06 | 1.35 |
| Quick ratio | 2.69 | 1.57 | 1.78 | 2.38 | 5.15 | 0.04 | 1.35 |
| Debt / equity | 0.03 | 0.08 | 0.13 | 0.10 | — | 5.86 | 2.49 |
| Equity / assets | 63.6% | 44.2% | 66.8% | 63.4% | −29.8% | 10.0% | 14.4% |
| Mar '26 | Sep '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $28.9M | $37.0M | $24.8M | $24.8M | $18.7M | $18.7M | $21.3M | $21.3M | $44.5M | $44.5M | $41.5M | $41.5M |
| Cash & equivalents | $28.9M | $37.0M | $24.8M | $24.8M | $18.7M | $18.7M | $21.3M | $21.3M | $44.5M | $44.5M | $41.5M | $41.5M |
| Receivables | $3.3M | $3.0M | $1.8M | $1.8M | $471,000 | $471,000 | $7.8M | $1.2M | $1.3M | $1.3M | $1.1M | $1.1M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | −$6.6M | $0 | −$1.9M | $0 | −$736,000 | −$736,000 |
| Other current assets | $0 | $0 | $0 | $0 | $4.5M | $4.5M | $6.6M | $6.6M | $42.6M | $40.6M | $3.9M | $3.9M |
| Total current assets | $32.2M | $40.0M | $26.6M | $26.6M | $23.7M | $23.7M | $29.1M | $29.1M | $86.3M | $86.3M | $45.8M | $45.8M |
| Property, plant & equipment (net) | $2.0M | $720,000 | $879,000 | $879,000 | $1.1M | $1.1M | $7.0M | $7.0M | $8.1M | $8.1M | $9.5M | $9.5M |
| Goodwill & intangible assets | $2.0M | $1.4M | $1.9M | $1.9M | $1.7M | $1.7M | $3.7M | $3.7M | $3.4M | $3.4M | $57.2M | $10.1M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $32,000 | $0 | $30,000 | $0 | $31,000 | $0 |
| Other non-current assets | $1 | $719,000 | $0 | $0 | $202,000 | $202,000 | $2.0M | $2.0M | $1.9M | $2.0M | $1.9M | $49.1M |
| Total assets | $36.2M | $42.9M | $29.4M | $29.4M | $26.7M | $26.7M | $41.8M | $41.8M | $99.8M | $99.8M | $114.5M | $114.5M |
| Liabilities | ||||||||||||
| Accounts payable | $806,999 | $47,000 | $10.6M | $10.6M | $9.0M | $9.0M | $8.2M | $8.2M | $11.8M | $11.8M | $13.3M | $13.3M |
| Short-term debt | $1.0M | $265,000 | $256,000 | $256,000 | $286,000 | $286,000 | $2.4M | $2.4M | $2.1M | $2.1M | $1.6M | $56,250 |
| Deferred revenue | $360,000 | $444,000 | $50,000 | — | $4,000 | — | $30,000 | — | $18,000 | — | $56,250 | $56,250 |
| Total current liabilities | $6.6M | $14.9M | $10.8M | $10.8M | $12.2M | $12.2M | $17.2M | $17.2M | $26.8M | $26.8M | $20.8M | $20.8M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $2.2M | $719,000 | $833,000 | — | $990,000 | — | $7.7M | — | $8.4M | — | $9.2M | — |
| Other long-term liabilities | $1.1M | $715,000 | $2.6M | $2.6M | $2.7M | $2.7M | $9.3M | $9.3M | $6.3M | $6.3M | $13.5M | $13.5M |
| Total liabilities | $7.7M | $15.6M | $13.4M | $13.4M | $14.9M | $14.9M | $26.5M | $26.5M | $33.1M | $33.1M | $34.3M | $34.3M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $40,999 | $38,000 | $34,000 | $34,000 | $29,000 | $29,000 | $17,000 | $17,000 | $16,000 | $16,000 | $13,000 | $13,000 |
| Retained earnings (deficit) | −$240.1M | −$373.8M | −$349.3M | −$349.3M | −$332.1M | −$332.1M | −$325.2M | −$325.2M | −$277.5M | −$277.5M | −$229.0M | −$229.0M |
| Accumulated other comprehensive income | $30.6M | $156.3M | $197.0M | $197.0M | $157.4M | $193.8M | $165.7M | $203.5M | $168.6M | $207.1M | $167.7M | $199.9M |
| Total shareholders' equity | $28.5M | $27.2M | $16.0M | $16.0M | $11.8M | $11.8M | $15.3M | $15.3M | $66.7M | $66.7M | $80.2M | $80.2M |
| Key figures | ||||||||||||
| Total debt | $2.2M | $719,000 | $833,000 | $833,000 | $990,000 | $990,000 | $7.7M | $5.2M | $8.4M | $6.3M | $9.2M | $7.6M |
| Net cash (debt) | $26.7M | $36.3M | $23.9M | $23.9M | $17.7M | $17.7M | $13.6M | $16.1M | $36.1M | $38.2M | $32.3M | $33.9M |
| Working capital | $25.6M | $25.1M | $15.7M | $15.7M | $11.5M | $11.5M | $11.9M | $11.9M | $59.5M | $59.5M | $25.0M | $25.0M |
| Tangible book value | $26.5M | $25.8M | $14.0M | $14.0M | $10.1M | $10.1M | $11.6M | $11.6M | $63.2M | $63.3M | $22.9M | $70.1M |
| Book value per share | $1.72 | $1.78 | $3.16 | — | $2.34 | — | $2.36 | $2.36 | $12.97 | $12.97 | $15.98 | — |
| Shares outstanding | 16.6M | 15.3M | 5.1M | — | 5.1M | — | 6.5M | 6.5M | 5.1M | 5.1M | 5.0M | — |
| Current ratio | 4.88 | 2.69 | 2.45 | 2.45 | 1.94 | 1.94 | 1.70 | 1.70 | 3.22 | 3.22 | 2.20 | 2.20 |
| Quick ratio | 4.88 | 2.69 | 2.45 | 2.45 | 1.57 | 1.57 | 1.70 | 1.31 | 1.71 | 1.71 | 2.05 | 2.05 |
| Debt / equity | 0.08 | 0.03 | 0.05 | 0.05 | 0.08 | 0.08 | 0.50 | 0.34 | 0.13 | 0.09 | 0.11 | 0.09 |
| Equity / assets | 78.7% | 63.6% | 54.4% | 54.4% | 44.2% | 44.2% | 36.7% | 36.7% | 66.8% | 66.8% | 70.0% | 70.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 9, 2025); data from EODHD.
ARQQ financial position
At the end of fiscal 2025 (September 30, 2025), Arqit Quantum had total assets of $42.9 million (up 60.4% from a year earlier), total liabilities of $15.6 million and shareholders' equity of $27.2 million. It held $37.0 million in cash and short-term investments against $0.7 million of debt, a net cash position of $36.3 million. Its current ratio was 2.69. In the latest quarter (ended March 31, 2026) total assets were $36.2 million and equity $28.5 million.
Related: ARQQ income statement, ARQQ cash flow statement, ARQQ key metrics. See the ARQQ stock overview for the latest quote and news.
ARQQ balance sheet FAQ
What are Arqit Quantum's total assets?
Arqit Quantum reported total assets of $42.9 million at the end of fiscal 2025 (September 30, 2025), compared with $26.7 million a year earlier.
How much debt does Arqit Quantum have?
Arqit Quantum had $0.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.03.
How much cash does Arqit Quantum have?
Arqit Quantum held $37.0 million in cash and short-term investments at the end of fiscal 2025; with $0.7 million of debt that is net cash of $36.3 million.
What is Arqit Quantum's book value?
Arqit Quantum's shareholders' equity (book value) was $27.2 million at the end of fiscal 2025, or $1.98 per share.
What is Arqit Quantum's current ratio?
Arqit Quantum had current assets of $40.0 million and current liabilities of $14.9 million, a current ratio of 2.69 (it can cover its short-term obligations).
How much goodwill does Arqit Quantum have?
Arqit Quantum carried $1.4 million of goodwill and intangible assets, 3.3% of total assets, at the end of fiscal 2025.