TG-17, Inc. (OBAI) Balance Sheet
OBAI balance sheet, 2025
December 31, 2025 · U.S. dollars$2.5M assets = $13.8M liabilities + −$11.3M equity
Liabilities exceed assets: shareholders’ equity is negative (−$11.3M).
Both columns are drawn to the same scale: what OBAI owns equals what it owes plus shareholders’ equity. Hover a block for its value.
OBAI financial health
Descriptive bands, not a rating. Fiscal 2025.
OBAI balance sheet trends, 2023–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $4.7M2023 | $2.5M2025 | −26.8%/yr | |
| Total liabilities | $18.4M2023 | $13.8M2025 | −13.4%/yr | |
| Shareholders’ equity | −$13.7M2023 | −$11.3M2025 | — | |
| Cash & short-term investments | $1.4M2023 | $599,0002025 | −35.4%/yr | |
| Total debt | $12.9M2023 | $8.0M2025 | −21.3%/yr | |
| Net cash (debt) | −$11.5M2023 | −$7.4M2025 | +$4.1M | |
| Working capital | −$2.5M2023 | −$5.7M2025 | −$3.2M | |
| Book value per share | −$11.592023 | −$5.622024 | — | |
| Current ratio | 0.642023 | 0.302025 | −0.35 | |
| Shares outstanding | 1.2M2023 | 2.9M2024 | +149.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
OBAI assets
OBAI liabilities and equity
OBAI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
OBAI balance sheet
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Assets | |||
| Cash & short-term investments | $599,000 | $726,000 | $1.4M |
| Cash & equivalents | $599,000 | $726,000 | $1.4M |
| Receivables | $1.6M | $2.5M | $3.0M |
| Inventory | $0 | $0 | $0 |
| Other current assets | $224,000 | $123,000 | $104,000 |
| Total current assets | $2.4M | $3.4M | $4.5M |
| Property, plant & equipment (net) | $86,000 | $105,000 | $129,000 |
| Goodwill & intangible assets | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $0 |
| Total assets | $2.5M | $3.5M | $4.7M |
| Liabilities | |||
| Accounts payable | $2.6M | $2.6M | $3.3M |
| Short-term debt | $2.3M | $1.9M | $1.6M |
| Deferred revenue | $562,000 | $776,000 | $279,000 |
| Total current liabilities | $8.1M | $7.2M | $7.0M |
| Long-term debt | $5.7M | $0 | $0 |
| Other long-term liabilities | $0 | $12.8M | $11.3M |
| Total liabilities | $13.8M | $20.0M | $18.4M |
| Shareholders' equity | |||
| Common stock & paid-in capital | — | $1,000 | $1,000 |
| Retained earnings (deficit) | −$139.2M | −$128.1M | −$117.1M |
| Accumulated other comprehensive income | −$70,000 | $44,000 | $76,000 |
| Total shareholders' equity | −$11.3M | −$16.5M | −$13.7M |
| Key figures | |||
| Total debt | $8.0M | $14.7M | $12.9M |
| Net cash (debt) | −$7.4M | −$14.0M | −$11.5M |
| Working capital | −$5.7M | −$3.8M | −$2.5M |
| Tangible book value | −$11.3M | −$16.5M | −$13.7M |
| Book value per share | — | −$5.62 | −$11.59 |
| Shares outstanding | — | 2.9M | 1.2M |
| Current ratio | 0.30 | 0.47 | 0.64 |
| Quick ratio | 0.27 | 0.45 | 0.63 |
| Equity / assets | −450.8% | −472.1% | −292.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Dec '24 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $5.2M | $3.8M | $599,000 | $925,000 | $726,000 |
| Cash & equivalents | $5.2M | $3.8M | $599,000 | $925,000 | $726,000 |
| Receivables | $1.6M | $1.7M | $1.6M | $1.7M | $2.5M |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $430,000 | $342,000 | $224,000 | $146,000 | $123,000 |
| Total current assets | $7.3M | $5.8M | $2.4M | $2.8M | $3.4M |
| Property, plant & equipment (net) | $93,000 | $89,000 | $86,000 | $86,000 | $105,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 |
| Total assets | $7.4M | $5.9M | $2.5M | $2.9M | $3.5M |
| Liabilities | |||||
| Accounts payable | $2.6M | $3.2M | $2.6M | $2.4M | $2.6M |
| Short-term debt | $2.3M | $4.3M | $2.3M | $1.1M | $1.9M |
| Deferred revenue | $636,000 | $343,000 | $562,000 | $699,000 | $776,000 |
| Total current liabilities | $8.3M | $10.2M | $8.1M | $6.3M | $7.2M |
| Long-term debt | $5.3M | $5.9M | $5.7M | $7.0M | $0 |
| Other long-term liabilities | $7.2M | $4.7M | $0 | $0 | $12.8M |
| Total liabilities | $20.8M | $20.9M | $13.8M | $13.3M | $20.0M |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $3,000 | $2,000 | — | — | $1,000 |
| Retained earnings (deficit) | −$151.0M | −$146.1M | −$139.2M | −$136.1M | −$128.1M |
| Accumulated other comprehensive income | −$111,000 | −$97,000 | −$70,000 | −$61,000 | $44,000 |
| Total shareholders' equity | −$13.4M | −$15.0M | −$11.3M | −$10.4M | −$16.5M |
| Key figures | |||||
| Total debt | $14.8M | $14.9M | $8.0M | $8.1M | $14.7M |
| Net cash (debt) | −$9.6M | −$11.1M | −$7.4M | −$7.2M | −$14.0M |
| Working capital | −$1.0M | −$4.4M | −$5.7M | −$3.5M | −$3.8M |
| Tangible book value | −$13.4M | −$15.0M | −$11.3M | −$10.4M | −$16.5M |
| Book value per share | — | — | — | −$3.28 | — |
| Shares outstanding | — | — | — | 3.2M | — |
| Current ratio | 0.88 | 0.57 | 0.30 | 0.44 | 0.47 |
| Quick ratio | 0.82 | 0.53 | 0.27 | 0.42 | 0.45 |
| Equity / assets | −182.2% | −254.1% | −450.8% | −360.6% | −472.1% |
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.
OBAI financial position
At the end of fiscal 2025 (December 31, 2025), TG-17 had total assets of $2.5 million (down 28.5% from a year earlier), total liabilities of $13.8 million and shareholders' equity of -$11.3 million. It held $0.6 million in cash and short-term investments against $8.0 million of debt, net debt of $7.4 million. Its current ratio was 0.30. In the latest quarter (ended June 30, 2026) total assets were $7.4 million and equity -$13.4 million.
Related: OBAI income statement, OBAI cash flow statement, OBAI key metrics. See the OBAI stock overview for the latest quote and news.
OBAI balance sheet FAQ
What are TG-17's total assets?
TG-17 reported total assets of $2.5 million at the end of fiscal 2025 (December 31, 2025), compared with $3.5 million a year earlier.
How much debt does TG-17 have?
TG-17 had $8.0 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was —.
How much cash does TG-17 have?
TG-17 held $0.6 million in cash and short-term investments at the end of fiscal 2025; with $8.0 million of debt that is net debt of $7.4 million.
What is TG-17's book value?
TG-17's shareholders' equity (book value) was -$11.3 million at the end of fiscal 2025.
What is TG-17's current ratio?
TG-17 had current assets of $2.4 million and current liabilities of $8.1 million, a current ratio of 0.30 (current liabilities exceed current assets).