Ocean Biomedical, Inc. (OCEA) Balance Sheet
OCEA balance sheet, 2024
December 31, 2024 · U.S. dollars$902,000 assets = $98.5M liabilities + −$97.6M equity
Liabilities exceed assets: shareholders’ equity is negative (−$97.6M).
Both columns are drawn to the same scale: what OCEA owns equals what it owes plus shareholders’ equity. Hover a block for its value.
OCEA financial health
Descriptive bands, not a rating. Fiscal 2024.
OCEA balance sheet trends, 2019–2024
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $02019 | $902,0002024 | — | |
| Total liabilities | $232,0002019 | $98.5M2024 | +235.4%/yr | |
| Shareholders’ equity | −$232,0002019 | −$97.6M2024 | — | |
| Cash & short-term investments | $02020 | $224,0002024 | — | |
| Total debt | $2.1M2022 | $16.3M2024 | +175.3%/yr | |
| Net cash (debt) | −$1.8M2022 | −$16.1M2024 | −$14.3M | |
| Working capital | −$232,0002019 | −$33.1M2024 | −$32.8M | |
| Current ratio | 0.002019 | 0.022024 | +0.02 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
OCEA assets
OCEA liabilities and equity
OCEA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
OCEA balance sheet
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $224,000 | $4,000 | $328,305 | $1.1M | $0 | — |
| Cash & equivalents | $224,000 | $4,000 | $328,305 | $1.1M | $0 | — |
| Receivables | $0 | $0 | $50,000 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $588,000 | $2.1M | $89,684 | $474,291 | $386,000 | $0 |
| Total current assets | $812,000 | $2.1M | $467,989 | $1.5M | $386,000 | $0 |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $90,000 | $3.4M | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $110.4M | $107.1M | $0 | $0 |
| Total assets | $902,000 | $5.5M | $110.9M | $108.7M | $386,000 | $0 |
| Liabilities | ||||||
| Accounts payable | $799,000 | $933,000 | $544,000 | $34,444 | $53,000 | $232,000 |
| Short-term debt | $16.3M | $12.1M | $2.1M | — | — | — |
| Total current liabilities | $33.9M | $30.0M | $3.5M | $246,444 | $2.3M | $232,000 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $64.6M | $66.3M | $3.1M | $3.1M | $53,000 | $232,000 |
| Total liabilities | $98.5M | $96.3M | $6.6M | $3.4M | $2.3M | $232,000 |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | — | — | $110.4M | $107.1M | — | — |
| Retained earnings (deficit) | −$205.5M | −$196.1M | −$2.8M | −$564,110 | −$1.9M | −$232,000 |
| Total shareholders' equity | −$97.6M | −$90.8M | $104.3M | $105.3M | −$1.9M | −$232,000 |
| Key figures | ||||||
| Total debt | $16.3M | $12.1M | $2.1M | — | — | — |
| Net cash (debt) | −$16.1M | −$12.1M | −$1.8M | — | — | — |
| Working capital | −$33.1M | −$27.9M | −$3.0M | $1.3M | −$1.9M | −$232,000 |
| Tangible book value | −$97.6M | −$90.8M | $104.3M | $105.3M | −$1.9M | −$232,000 |
| Current ratio | 0.02 | 0.07 | 0.14 | 6.29 | 0.17 | 0.00 |
| Quick ratio | 0.01 | 0.00 | 0.11 | 4.36 | 0.00 | 0.00 |
| Debt / equity | — | — | 0.02 | — | — | — |
| Equity / assets | −10,822.2% | −1,649.9% | 94.0% | 96.9% | −488.3% | — |
| Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | Sep '22 | Jun '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $777,000 | $0 | $240,000 | $4,000 | $19,000 | $4,000 | $31,000 | $1.2M | $306,000 | $328,305 | $472,105 | $395,000 |
| Cash & equivalents | $777,000 | $0 | $240,000 | $4,000 | $19,000 | $4,000 | $31,000 | $1.2M | $306,000 | $328,305 | $472,105 | $395,000 |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $50,000 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $715,000 | $812,000 | $802,000 | $1.3M | $1.8M | $2.1M | $1.0M | $1.0M | $0 | $89,684 | $127,502 | $0 |
| Total current assets | $1.5M | $812,000 | $1.0M | $1.3M | $1.8M | $2.1M | $1.0M | $2.2M | $306,000 | $467,989 | $599,607 | $395,000 |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $90,000 | $90,000 | $90,000 | $574,000 | $1.1M | $3.4M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $18.8M | $24.7M | $110.4M | $108.5M | $0 |
| Total assets | $1.6M | $902,000 | $1.1M | $1.9M | $2.9M | $5.5M | $1.0M | $20.9M | $25.0M | $110.9M | $109.1M | $395,000 |
| Liabilities | ||||||||||||
| Accounts payable | $964,000 | $799,000 | $862,000 | $926,000 | $991,000 | $933,000 | $114,000 | $1.4M | $1.7M | $324,829 | $181,035 | $528,000 |
| Short-term debt | $9.3M | — | $12.8M | $11.0M | $9.9M | $12.1M | $12.1M | $11.9M | $7.1M | $2.1M | $1.1M | $764,000 |
| Deferred revenue | — | — | — | — | — | — | — | — | — | — | −$181,035 | — |
| Total current liabilities | $26.6M | $33.9M | $33.6M | $30.7M | $30.1M | $30.0M | $30.9M | $26.7M | $23.4M | $3.5M | $2.1M | $9.9M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $67.4M | $64.6M | $65.6M | $63.9M | $48.6M | $66.3M | $45.4M | $2.6M | $8.8M | $3.1M | $3.1M | $3.1M |
| Total liabilities | $94.0M | $98.5M | $99.2M | $94.6M | $78.7M | $96.3M | $76.3M | $29.3M | $23.4M | $6.6M | $5.2M | $9.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | — | — | — | — | — | — | — | — | $110.4M | $108.5M | $107.1M |
| Retained earnings (deficit) | −$213.8M | −$205.5M | −$205.8M | −$200.3M | −$183.1M | −$196.1M | −$179.2M | −$162.0M | −$149.0M | −$2.8M | −$2.3M | −$76.9M |
| Total shareholders' equity | −$92.4M | −$97.6M | −$98.1M | −$92.7M | −$75.8M | −$90.8M | −$75.2M | −$8.4M | $1.5M | $104.3M | $103.9M | −$9.5M |
| Key figures | ||||||||||||
| Total debt | $9.3M | — | $12.8M | $11.0M | $9.9M | $12.1M | $12.1M | $11.9M | $7.1M | $2.1M | $1.1M | $764,000 |
| Net cash (debt) | −$8.6M | — | −$12.6M | −$11.0M | −$9.8M | −$12.1M | −$12.0M | −$10.7M | −$6.8M | −$1.8M | −$577,895 | −$369,000 |
| Working capital | −$25.1M | −$33.1M | −$32.6M | −$29.5M | −$28.3M | −$27.9M | −$29.8M | −$24.5M | −$23.1M | −$3.0M | −$1.5M | −$9.5M |
| Tangible book value | −$92.4M | −$97.6M | −$98.1M | −$92.7M | −$75.8M | −$90.8M | −$75.2M | −$8.4M | $1.5M | $104.3M | $103.9M | −$9.5M |
| Current ratio | 0.06 | 0.02 | 0.03 | 0.04 | 0.06 | 0.07 | 0.03 | 0.08 | 0.01 | 0.14 | 0.29 | 0.04 |
| Quick ratio | 0.03 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.04 | 0.01 | 0.11 | 0.23 | 0.04 |
| Debt / equity | — | — | — | — | — | — | — | — | 4.58 | 0.02 | 0.01 | — |
| Equity / assets | −5,840.6% | −10,822.2% | −8,664.8% | −5,010.4% | −2,572.4% | −1,649.9% | −7,296.2% | −40.2% | 6.2% | 94.0% | 95.2% | −2,414.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 8, 2025); data from EODHD.
OCEA financial position
At the end of fiscal 2024 (December 31, 2024), Ocean Biomedical had total assets of $0.9 million (down 83.6% from a year earlier), total liabilities of $98.5 million and shareholders' equity of -$97.6 million. It held $0.2 million in cash and short-term investments against $16.3 million of debt, net debt of $16.1 million. Its current ratio was 0.02. In the latest quarter (ended March 31, 2025) total assets were $1.6 million and equity -$92.4 million.
Related: OCEA income statement, OCEA cash flow statement, OCEA key metrics. See the OCEA stock overview for the latest quote and news.
OCEA balance sheet FAQ
What are Ocean Biomedical's total assets?
Ocean Biomedical reported total assets of $0.9 million at the end of fiscal 2024 (December 31, 2024), compared with $5.5 million a year earlier.
How much debt does Ocean Biomedical have?
Ocean Biomedical had $16.3 million of total debt at the end of fiscal 2024, including short-term borrowings. Its debt-to-equity ratio was —.
How much cash does Ocean Biomedical have?
Ocean Biomedical held $0.2 million in cash and short-term investments at the end of fiscal 2024; with $16.3 million of debt that is net debt of $16.1 million.
What is Ocean Biomedical's book value?
Ocean Biomedical's shareholders' equity (book value) was -$97.6 million at the end of fiscal 2024.
What is Ocean Biomedical's current ratio?
Ocean Biomedical had current assets of $0.8 million and current liabilities of $33.9 million, a current ratio of 0.02 (current liabilities exceed current assets).