Nexalin Technology, Inc. (NXL) Balance Sheet
NXL balance sheet, 2025
December 31, 2025 · U.S. dollars$4.6M assets = $887,333 liabilities + $3.7M equity
Both columns are drawn to the same scale: what NXL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
NXL financial health
Descriptive bands, not a rating. Fiscal 2025.
NXL balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $112,5062019 | $4.6M2025 | +85.8%/yr | |
| Total liabilities | $1.3M2019 | $887,3332025 | −6.1%/yr | |
| Shareholders’ equity | −$1.2M2019 | $3.7M2025 | — | |
| Cash & short-term investments | $63,4272019 | $3.7M2025 | +97.1%/yr | |
| Total debt | $826,7662019 | $4,4632023 | −72.9%/yr | |
| Net cash (debt) | −$763,3392019 | $2.9M2023 | +$3.7M | |
| Working capital | −$930,7302019 | $3.4M2025 | +$4.3M | |
| Book value per share | −$4.862019 | $6.862025 | — | |
| Current ratio | 0.112019 | 4.852025 | +4.74 | |
| Debt / equity | 0.142022 | 0.002023 | −0.14 | |
| Shares outstanding | 243K2019 | 546K2025 | +14.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NXL assets
NXL liabilities and equity
NXL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
NXL balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $3.7M | $3.5M | $2.9M | $7.0M | $661,778 | $78,436 | $63,427 |
| Cash & equivalents | $654,783 | $574,485 | $580,230 | $162,743 | $661,778 | $78,436 | $63,427 |
| Short-term investments | $3.1M | $2.9M | $2.4M | $6.8M | $0 | — | — |
| Receivables | $81,571 | $13,043 | $9,369 | $4,875 | $16,303 | $6,599 | $5,690 |
| Inventory | $131,473 | $174,578 | $156,420 | $154,370 | $31,410 | $22,656 | $21,598 |
| Other current assets | $363,014 | $293,597 | $315,670 | $272,282 | $43,168 | $9,194 | $20,434 |
| Total current assets | $4.3M | $4.0M | $3.4M | $7.4M | $752,659 | $116,885 | $111,149 |
| Property, plant & equipment (net) | $0 | $0 | $496 | $6,674 | $1,039 | $1,576 | $1,357 |
| Goodwill & intangible assets | $336,049 | $260,727 | $105,528 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $864 | $96,000 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $4.6M | $4.2M | $3.6M | $7.4M | $753,698 | $118,461 | $112,506 |
| Liabilities | |||||||
| Accounts payable | $244,579 | $155,949 | $159,534 | $658,367 | $843,794 | $461,161 | $324,470 |
| Short-term debt | — | — | $4,463 | $750,797 | $778,045 | $583,773 | $576,769 |
| Deferred revenue | — | — | $56,207 | — | $130,000 | — | — |
| Total current liabilities | $887,333 | $546,694 | $425,281 | $1.9M | $2.4M | $1.6M | $1.0M |
| Long-term debt | $0 | $0 | $0 | $0 | $22,916 | $52,305 | $0 |
| Lease obligations | — | $0 | $4,463 | $55,260 | $89,934 | $126,907 | — |
| Other long-term liabilities | $0 | $0 | $0 | $4,463 | $49,089 | $89,934 | $249,997 |
| Total liabilities | $887,333 | $546,694 | $425,281 | $2.0M | $2.4M | $1.7M | $1.3M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $19,186 | $13,304 | $7,437 | $7,287 | $4,880 | $3,695 | $3,136 |
| Retained earnings (deficit) | −$92.9M | −$84.6M | −$77.0M | −$72.4M | −$70.7M | −$64.6M | −$61.2M |
| Accumulated other comprehensive income | $406 | −$513 | −$405 | $36,313 | — | — | — |
| Total shareholders' equity | $3.7M | $3.7M | $3.2M | $5.5M | −$1.7M | −$1.6M | −$1.2M |
| Key figures | |||||||
| Total debt | — | — | $4,463 | $755,260 | $850,050 | $726,012 | $826,766 |
| Net cash (debt) | — | — | $2.9M | $6.2M | −$188,272 | −$647,576 | −$763,339 |
| Working capital | $3.4M | $3.4M | $3.0M | $5.5M | −$1.6M | −$1.4M | −$930,730 |
| Tangible book value | $3.4M | $3.4M | $3.1M | $5.5M | −$1.7M | −$1.6M | −$1.2M |
| Book value per share | $6.86 | $11.97 | $13.08 | $22.56 | −$6.93 | −$6.55 | −$4.86 |
| Shares outstanding | 546K | 307K | 245K | 243K | 243K | 243K | 243K |
| Current ratio | 4.85 | 7.25 | 8.07 | 3.81 | 0.32 | 0.07 | 0.11 |
| Quick ratio | 4.29 | 6.39 | 6.95 | 3.59 | 0.29 | 0.05 | 0.07 |
| Debt / equity | — | — | 0.00 | 0.14 | — | — | — |
| Equity / assets | 80.9% | 87.1% | 88.3% | 73.7% | −223.2% | −1,342.5% | −1,048.3% |
| 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 | $1.0M | $2.7M | $3.7M | $4.4M | $5.8M | $2.1M | $3.5M | $4.6M | $848,796 | $2.1M | $2.9M | $3.9M |
| Cash & equivalents | $1.0M | $1.2M | $654,783 | $590,075 | $431,320 | $622,029 | $574,485 | $81,421 | $848,796 | $546,255 | $580,230 | $361,397 |
| Short-term investments | $0 | $1.5M | $3.1M | $3.8M | $5.4M | $1.4M | $2.9M | $4.5M | $0 | $1.6M | $2.4M | $3.6M |
| Receivables | $52,930 | $43,004 | $81,571 | $7,925 | $59,841 | $14,479 | $13,043 | $15,171 | $11,720 | $3,666 | $9,369 | $14,483 |
| Inventory | $233,462 | $179,489 | $131,473 | $160,225 | $172,974 | $175,253 | $174,578 | $158,375 | $145,141 | $153,668 | $156,420 | $158,619 |
| Other current assets | $570,756 | $359,176 | $363,014 | $296,551 | $243,511 | $379,780 | $293,597 | $140,425 | $176,486 | $261,977 | $315,670 | $153,045 |
| Total current assets | $1.9M | $3.3M | $4.3M | $4.8M | $6.3M | $2.6M | $4.0M | $4.9M | $1.2M | $2.6M | $3.4M | $4.3M |
| Property, plant & equipment (net) | $42,432 | $45,169 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $496 | $2,063 |
| Goodwill & intangible assets | $1.1M | $359,310 | $336,049 | $308,562 | $294,871 | $279,520 | $260,727 | $248,942 | $226,077 | $169,174 | $105,528 | $72,355 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $864 | $100,651 | $100,492 | $101,783 | $96,000 | $96,000 |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $54,414 | $0 | $0 | $0 |
| Total assets | $3.0M | $3.7M | $4.6M | $5.1M | $6.6M | $2.9M | $4.2M | $5.3M | $1.6M | $2.8M | $3.6M | $4.4M |
| Liabilities | ||||||||||||
| Accounts payable | $239,448 | $168,099 | $244,579 | $67,493 | $232,810 | $181,394 | $155,949 | $166,542 | $87,138 | $151,510 | $159,534 | $72,549 |
| Short-term debt | — | — | — | — | — | — | — | — | — | — | $4,463 | $517,635 |
| Deferred revenue | — | — | — | — | — | — | — | — | — | — | — | −$572,549 |
| Total current liabilities | $1.5M | $808,364 | $887,333 | $357,524 | $600,584 | $574,736 | $546,694 | $299,389 | $212,104 | $507,223 | $425,281 | $1.2M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | — | — | — | — | — | $0 | $0 | $0 | $0 | $4,463 | $17,635 |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total liabilities | $1.5M | $808,364 | $887,333 | $357,524 | $600,584 | $574,736 | $546,694 | $299,389 | $212,104 | $507,223 | $425,281 | $1.2M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $22,003 | $20,581 | $19,186 | $18,190 | $17,418 | $13,328 | $13,304 | $12,862 | $7,587 | $7,437 | $7,437 | $7,437 |
| Retained earnings (deficit) | −$97.2M | −$95.0M | −$92.9M | −$90.5M | −$88.2M | −$86.6M | −$84.6M | −$81.8M | −$79.4M | −$78.1M | −$77.0M | −$76.3M |
| Accumulated other comprehensive income | — | $494 | $406 | −$631 | $830 | $317 | −$513 | −$325 | — | −$245 | −$405 | $800 |
| Total shareholders' equity | $1.5M | $2.9M | $3.7M | $4.8M | $6.0M | $2.3M | $3.7M | $5.0M | $1.4M | $2.3M | $3.2M | $3.2M |
| Key figures | ||||||||||||
| Total debt | — | — | — | — | — | — | — | — | — | — | $4,463 | $517,635 |
| Net cash (debt) | — | — | — | — | — | — | — | — | — | — | $2.9M | $3.4M |
| Working capital | $377,350 | $2.5M | $3.4M | $4.5M | $5.7M | $2.0M | $3.4M | $4.6M | $970,039 | $2.1M | $3.0M | $3.1M |
| Tangible book value | $419,782 | $2.5M | $3.4M | $4.5M | $5.7M | $2.0M | $3.4M | $4.7M | $1.1M | $2.2M | $3.1M | $3.2M |
| Book value per share | $2.16 | $4.37 | $6.04 | $8.04 | $11.38 | $5.24 | $11.97 | $13.71 | $5.41 | $9.39 | $12.94 | $13.09 |
| Shares outstanding | 705K | 661K | 621K | 593K | 524K | 444K | 307K | 362K | 250K | 248K | 248K | 247K |
| Current ratio | 1.25 | 4.07 | 4.85 | 13.47 | 10.44 | 4.56 | 7.25 | 16.39 | 5.57 | 5.05 | 8.07 | 3.56 |
| Quick ratio | 0.71 | 3.40 | 4.29 | 12.20 | 9.74 | 3.59 | 6.39 | 15.39 | 4.06 | 4.23 | 6.95 | 3.30 |
| Debt / equity | — | — | — | — | — | — | — | — | — | — | 0.00 | 0.16 |
| Equity / assets | 50.6% | 78.1% | 80.9% | 93.0% | 90.9% | 80.2% | 87.1% | 94.3% | 86.4% | 82.1% | 88.3% | 73.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 25, 2026); data from EODHD.
NXL financial position
At the end of fiscal 2025 (December 31, 2025), Nexalin Technology had total assets of $4.6 million (up 9.8% from a year earlier), total liabilities of $0.9 million and shareholders' equity of $3.7 million. Its current ratio was 4.85. In the latest quarter (ended June 30, 2026) total assets were $3.0 million and equity $1.5 million.
Related: NXL income statement, NXL cash flow statement, NXL key metrics. See the NXL stock overview for the latest quote and news.
NXL balance sheet FAQ
What are Nexalin Technology's total assets?
Nexalin Technology reported total assets of $4.6 million at the end of fiscal 2025 (December 31, 2025), compared with $4.2 million a year earlier.
How much cash does Nexalin Technology have?
Nexalin Technology held $3.7 million in cash and short-term investments at the end of fiscal 2025.
What is Nexalin Technology's book value?
Nexalin Technology's shareholders' equity (book value) was $3.7 million at the end of fiscal 2025, or $6.86 per share.
What is Nexalin Technology's current ratio?
Nexalin Technology had current assets of $4.3 million and current liabilities of $0.9 million, a current ratio of 4.85 (it can cover its short-term obligations).
How much goodwill does Nexalin Technology have?
Nexalin Technology carried $0.3 million of goodwill and intangible assets, 7.2% of total assets, at the end of fiscal 2025.