Helius Medical Technologies, Inc. (HSDT) Balance Sheet
HSDT balance sheet, 2025
December 31, 2025 · U.S. dollars$303.9M assets = $3.0M liabilities + $300.9M equity
Both columns are drawn to the same scale: what HSDT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
HSDT financial health
Descriptive bands, not a rating. Fiscal 2025.
HSDT balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $4.0M2016 | $303.9M2025 | +61.6%/yr | |
| Total liabilities | $4.1M2016 | $3.0M2025 | −3.2%/yr | |
| Shareholders’ equity | −$16,1932016 | $300.9M2025 | — | |
| Cash & short-term investments | $2.6M2016 | $7.3M2025 | +11.9%/yr | |
| Total debt | $4.5M2016 | $12,0002024 | −52.3%/yr | |
| Net cash (debt) | −$1.8M2016 | $1.1M2024 | +$2.9M | |
| Working capital | $1.7M2016 | $28.1M2025 | +$26.4M | |
| Debt / equity | 1.402018 | 0.012024 | −1.39 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
HSDT assets
HSDT liabilities and equity
HSDT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
HSDT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $7.3M | $1.1M | $5.2M | $14.5M | $11.0M | $3.3M | $5.5M | $25.6M | $5.6M | $2.6M |
| Cash & equivalents | $7.3M | $1.1M | $5.2M | $14.5M | $11.0M | $3.3M | $5.5M | $25.6M | $5.6M | $2.6M |
| Receivables | $0 | $635,000 | $637,000 | $343,000 | $251,000 | $230,000 | $574,000 | $275,000 | $704,000 | $399,106 |
| Inventory | $1.1M | $1.1M | $457,000 | $589,000 | $476,000 | $389,000 | $598,000 | $392,000 | $0 | $0 |
| Other current assets | $22.8M | $610,000 | $1.0M | $1.2M | $862,000 | $735,000 | $610,000 | $711,000 | $352,000 | $997,678 |
| Total current assets | $31.2M | $3.4M | $7.3M | $16.7M | $12.6M | $4.7M | $7.2M | $27.0M | $6.6M | $4.0M |
| Property, plant & equipment (net) | $0 | $118,000 | $230,000 | $450,000 | $412,000 | $576,000 | $1.3M | $554,000 | $173,000 | $0 |
| Goodwill & intangible assets | $196.7M | $0 | $24,000 | $140,000 | $1.1M | $1.3M | $1.8M | $0 | $0 | $0 |
| Long-term investments | $5.6M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $70.4M | $0 | $140,000 | $0 | $0 | $0 | $18,000 | $312,000 | $18,000 | $0 |
| Total assets | $303.9M | $3.5M | $7.7M | $17.3M | $14.1M | $6.5M | $10.3M | $27.8M | $6.8M | $4.0M |
| Liabilities | ||||||||||
| Accounts payable | $1.9M | $873,000 | $531,000 | $627,000 | $1.1M | $747,000 | $1.7M | $2.4M | $3.5M | $2.2M |
| Short-term debt | — | $12,000 | $45,000 | $54,000 | $3,000 | $59,000 | $172,000 | $13.8M | $1.0M | $4.5M |
| Deferred revenue | — | $39,000 | $43,000 | $27,000 | $148,000 | $281,000 | $430,000 | — | $233,000 | — |
| Total current liabilities | $3.0M | $2.2M | $1.9M | $2.0M | $2.7M | $2.4M | $3.8M | $18.0M | $14.3M | $2.3M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | $12,000 | $57,000 | $110,000 | $3,000 | $91,000 | $637,000 | — | — | — |
| Other long-term liabilities | $0 | $320,000 | $3.5M | $7.1M | $193,000 | $252,000 | $710,000 | $2.4M | $3.7M | $1.7M |
| Total liabilities | $3.0M | $2.5M | $5.3M | $9.1M | $2.8M | $2.7M | $4.5M | $18.0M | $14.3M | $4.1M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $44,000 | $4,000 | $1,000 | $28,000 | $4,000 | $1,000 | $31,000 | $26,000 | $52.2M | $24.3M |
| Retained earnings (deficit) | −$212.6M | −$171.7M | −$160.0M | −$151.1M | −$137.0M | −$118.9M | −$104.8M | −$95.0M | −$66.4M | −$26.3M |
| Accumulated other comprehensive income | −$261,000 | $333,000 | −$673,000 | −$388,000 | −$1.1M | −$1.1M | −$902,000 | −$591,000 | $47,000 | −$999,398 |
| Total shareholders' equity | $300.9M | $1.1M | $2.4M | $8.2M | $11.3M | $3.9M | $5.8M | $9.9M | −$7.5M | −$16,193 |
| Key figures | ||||||||||
| Total debt | — | $12,000 | $57,000 | $110,000 | $3,000 | $91,000 | $637,000 | $13.8M | $1.0M | $4.5M |
| Net cash (debt) | — | $1.1M | $5.1M | $14.4M | $11.0M | $3.2M | $4.8M | $11.8M | $4.6M | −$1.8M |
| Working capital | $28.1M | $1.3M | $5.4M | $14.7M | $9.9M | $2.3M | $3.4M | $9.0M | −$7.7M | $1.7M |
| Tangible book value | $104.2M | $1.1M | $2.3M | $8.0M | $10.2M | $2.6M | $4.0M | $9.9M | −$7.5M | −$16,193 |
| Book value per share | $13.65 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 22.0M | — | — | — | — | — | — | — | — | — |
| Current ratio | 10.33 | 1.58 | 3.88 | 8.40 | 4.75 | 1.93 | 1.90 | 1.50 | 0.46 | 1.73 |
| Quick ratio | 2.41 | 0.80 | 3.10 | 7.49 | 4.24 | 1.47 | 1.59 | 1.44 | 0.44 | 1.31 |
| Debt / equity | — | 0.01 | 0.02 | 0.01 | 0.00 | 0.02 | 0.11 | 1.40 | — | — |
| Equity / assets | 99.0% | 29.9% | 30.6% | 47.2% | 79.8% | 59.1% | 56.4% | 35.4% | −110.0% | −0.4% |
| 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 | $3.6M | $4.4M | $7.3M | $124.1M | $6.1M | $1.1M | $1.1M | $3.5M | $6.4M | $3.6M | $5.2M | $6.6M |
| Cash & equivalents | $3.6M | $4.4M | $7.3M | $124.1M | $6.1M | $1.1M | $1.1M | $3.5M | $6.4M | $3.6M | $5.2M | $6.6M |
| Receivables | $0 | $0 | $0 | $0 | $94,000 | $502,000 | $635,000 | $524,000 | $659,000 | $562,000 | $637,000 | $566,000 |
| Inventory | $0 | $0 | $1.1M | $1.1M | $1.2M | $1.1M | $1.1M | $774,000 | $1.1M | $739,000 | $790,000 | $521,000 |
| Other current assets | $25.1M | $23.4M | $22.8M | $484,000 | $480,000 | $641,000 | $610,000 | $633,000 | $454,000 | $585,000 | $829,000 | $893,000 |
| Total current assets | $28.7M | $27.8M | $31.2M | $125.7M | $7.8M | $3.4M | $3.4M | $5.4M | $8.6M | $5.5M | $7.4M | $8.6M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $90,000 | $99,000 | $118,000 | $177,000 | $196,000 | $216,000 | $230,000 | $247,000 |
| Goodwill & intangible assets | $0 | $127.6M | $196.7M | $0 | $0 | $0 | $0 | $2,000 | $9,000 | $17,000 | $24,000 | $31,000 |
| Long-term investments | $2.5M | $3.3M | $5.6M | $291.1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $144.8M | $42.0M | $70.4M | $59.2M | $0 | $0 | $0 | $7,000 | $7,000 | $0 | $0 | $0 |
| Total assets | $176.1M | $200.7M | $303.9M | $475.9M | $7.9M | $3.5M | $3.5M | $5.6M | $8.8M | $5.8M | $7.7M | $8.9M |
| Liabilities | ||||||||||||
| Accounts payable | $1.3M | $2.0M | $1.9M | $2.5M | $1.3M | $1.2M | $873,000 | $743,000 | $1.3M | $814,000 | $531,000 | $497,000 |
| Short-term debt | — | — | — | — | — | — | $12,000 | $23,000 | $35,000 | $46,000 | $45,000 | $47,000 |
| Deferred revenue | — | — | — | — | $41,000 | $39,000 | $39,000 | $42,000 | $41,000 | $42,000 | $43,000 | $42,000 |
| Total current liabilities | $2.2M | $2.8M | $3.0M | $3.1M | $1.8M | $2.0M | $2.2M | $1.5M | $2.1M | $1.6M | $1.9M | $1.4M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | — | — | — | $0 | $0 | $12,000 | $23,000 | $35,000 | $46,000 | $57,000 | $70,000 |
| Other long-term liabilities | $4.2M | $0 | $0 | $625.2M | $62,000 | $201,000 | $320,000 | $290,000 | $450,000 | $2.2M | $3.5M | $4.4M |
| Total liabilities | $10.4M | $2.8M | $3.0M | $628.3M | $1.9M | $2.2M | $2.5M | $1.8M | $2.5M | $3.8M | $5.3M | $5.8M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $60,000 | $57,000 | $44,000 | $40,000 | $1,000 | $6,000 | $4,000 | $4,000 | $3,000 | $1,000 | $1,000 | $1,000 |
| Retained earnings (deficit) | −$342.6M | −$312.4M | −$212.6M | −$538.1M | −$185.4M | −$175.5M | −$171.7M | −$167.8M | −$164.1M | −$162.5M | −$160.0M | −$158.9M |
| Accumulated other comprehensive income | $227,000 | −$44,000 | −$261,000 | −$60,000 | −$295,000 | $282,000 | $333,000 | −$427,000 | −$245,000 | −$385,000 | −$673,000 | −$459,000 |
| Total shareholders' equity | $165.6M | $197.9M | $300.9M | −$152.4M | $6.0M | $1.3M | $1.1M | $3.8M | $6.3M | $2.0M | $2.4M | $3.0M |
| Key figures | ||||||||||||
| Total debt | — | — | — | — | — | — | $12,000 | $23,000 | $35,000 | $46,000 | $57,000 | $70,000 |
| Net cash (debt) | — | — | — | — | — | — | $1.1M | $3.4M | $6.4M | $3.6M | $5.1M | $6.5M |
| Working capital | $26.6M | $25.0M | $28.1M | $122.5M | $6.0M | $1.4M | $1.3M | $3.9M | $6.6M | $3.9M | $5.6M | $7.1M |
| Tangible book value | $165.6M | $70.3M | $104.2M | −$152.4M | $6.0M | $1.3M | $1.1M | $3.8M | $6.3M | $2.0M | $2.3M | $3.0M |
| Book value per share | $2.12 | $2.58 | $13.65 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 78.3M | 76.7M | 22.0M | — | — | — | — | — | — | — | — | — |
| Current ratio | 13.31 | 9.90 | 10.33 | 40.03 | 4.32 | 1.69 | 1.58 | 3.61 | 4.20 | 3.51 | 3.96 | 5.98 |
| Quick ratio | 1.69 | 1.56 | 2.41 | 39.52 | 3.42 | 0.80 | 0.80 | 2.67 | 3.43 | 2.66 | 3.10 | 4.99 |
| Debt / equity | — | — | — | — | — | — | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 |
| Equity / assets | 94.1% | 98.6% | 99.0% | −32.0% | 76.3% | 36.7% | 29.9% | 68.0% | 71.7% | 34.5% | 30.6% | 34.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
HSDT financial position
At the end of fiscal 2025 (December 31, 2025), Helius Medical Technologies had total assets of $303.9 million (up 8,480.7% from a year earlier), total liabilities of $3.0 million and shareholders' equity of $300.9 million. Its current ratio was 10.33. In the latest quarter (ended June 30, 2026) total assets were $176.1 million and equity $165.6 million.
Related: HSDT income statement, HSDT cash flow statement, HSDT key metrics. See the HSDT stock overview for the latest quote and news.
HSDT balance sheet FAQ
What are Helius Medical Technologies's total assets?
Helius Medical Technologies reported total assets of $303.9 million at the end of fiscal 2025 (December 31, 2025), compared with $3.5 million a year earlier.
How much cash does Helius Medical Technologies have?
Helius Medical Technologies held $7.3 million in cash and short-term investments at the end of fiscal 2025.
What is Helius Medical Technologies's book value?
Helius Medical Technologies's shareholders' equity (book value) was $300.9 million at the end of fiscal 2025, or $13.65 per share.
What is Helius Medical Technologies's current ratio?
Helius Medical Technologies had current assets of $31.2 million and current liabilities of $3.0 million, a current ratio of 10.33 (it can cover its short-term obligations).
How much goodwill does Helius Medical Technologies have?
Helius Medical Technologies carried $196.7 million of goodwill and intangible assets, 64.7% of total assets, at the end of fiscal 2025.