Pelthos Therapeutics Inc. (PTHS) Balance Sheet
PTHS balance sheet, 2025
December 31, 2025 · U.S. dollars$130.4M assets = $91.5M liabilities + $38.9M equity
Both columns are drawn to the same scale: what PTHS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
PTHS financial health
Descriptive bands, not a rating. Fiscal 2025.
PTHS balance sheet trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $02021 | $130.4M2025 | — | |
| Total liabilities | $3.7M2021 | $91.5M2025 | +123.3%/yr | |
| Shareholders’ equity | −$3.7M2021 | $38.9M2025 | — | |
| Cash & short-term investments | $02021 | $18.0M2025 | — | |
| Total debt | $540,4302022 | $34.8M2025 | +300.9%/yr | |
| Net cash (debt) | −$485,3562022 | −$16.8M2025 | −$16.3M | |
| Working capital | −$2.6M2021 | $26.7M2025 | +$29.3M | |
| Current ratio | 0.002021 | 2.032025 | +2.03 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PTHS assets
PTHS liabilities and equity
PTHS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
PTHS balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $18.0M | $513,443 | $96,391 | $55,074 | $0 |
| Cash & equivalents | $18.0M | $513,443 | $96,391 | $55,074 | $0 |
| Receivables | $8.9M | $40,400 | $0 | $0 | $0 |
| Inventory | $23.6M | $0 | $0 | $0 | $0 |
| Other current assets | $2.2M | $815,300 | $0 | $0 | $0 |
| Total current assets | $52.7M | $1.4M | $96,391 | $55,074 | $0 |
| Property, plant & equipment (net) | $12.8M | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $64.2M | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $710,999 | $0 | $0 | $0 | $0 |
| Total assets | $130.4M | $1.4M | $96,391 | $55,074 | $0 |
| Liabilities | |||||
| Accounts payable | $3.0M | $1.9M | $4.6M | $3.0M | $2.6M |
| Short-term debt | $635,000 | $2.2M | $1.3M | $540,430 | — |
| Deferred revenue | $966,000 | — | — | — | — |
| Total current liabilities | $26.0M | $4.1M | $6.5M | $3.8M | $2.6M |
| Long-term debt | $31.4M | $0 | $0 | $0 | $0 |
| Lease obligations | $3.4M | $0 | — | — | — |
| Other long-term liabilities | $34.1M | $0 | $0 | $0 | $1.1M |
| Total liabilities | $91.5M | $4.1M | $6.5M | $3.8M | $3.7M |
| Shareholders' equity | |||||
| Common stock & paid-in capital | — | $613 | $391 | $111 | — |
| Retained earnings (deficit) | −$64.8M | −$21.5M | −$13.5M | −$6.1M | −$3.7M |
| Total shareholders' equity | $38.9M | −$2.7M | −$6.4M | −$3.7M | −$3.7M |
| Key figures | |||||
| Total debt | $34.8M | $2.2M | $1.3M | $540,430 | — |
| Net cash (debt) | −$16.8M | −$1.7M | −$1.2M | −$485,356 | — |
| Working capital | $26.7M | −$2.7M | −$6.4M | −$3.7M | −$2.6M |
| Tangible book value | −$25.3M | −$2.7M | −$6.4M | −$3.7M | −$3.7M |
| Book value per share | $20.68 | — | — | — | — |
| Shares outstanding | 1.9M | — | — | — | — |
| Current ratio | 2.03 | 0.34 | 0.01 | 0.01 | 0.00 |
| Quick ratio | 1.03 | 0.14 | 0.01 | 0.01 | 0.00 |
| Debt / equity | 0.90 | — | — | — | — |
| Equity / assets | 29.8% | −198.2% | −6,685.8% | −6,730.1% | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & short-term investments | $24.6M | $32.2M | $18.0M | $14.3M | $59,172 | $131,317 | $513,443 | $1.3M | $2.4M | $3.8M | $96,391 |
| Cash & equivalents | $24.6M | $32.2M | $18.0M | $14.3M | $59,172 | $131,317 | $513,443 | $1.3M | $2.4M | $3.8M | $96,391 |
| Receivables | $14.5M | $11.7M | $8.9M | $8.0M | $40,400 | $40,400 | $40,400 | $40,400 | $40,400 | $40,400 | $0 |
| Inventory | $21.5M | $23.4M | $23.6M | $24.1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $2.8M | $1.7M | $2.2M | $2.7M | $723,278 | $739,462 | $815,300 | $844,585 | $158,102 | $220,930 | $0 |
| Total current assets | $63.4M | $69.1M | $52.7M | $49.0M | $822,850 | $911,179 | $1.4M | $2.1M | $2.6M | $4.0M | $96,391 |
| Property, plant & equipment (net) | $11.9M | $12.5M | $12.8M | $13.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $62.1M | $63.1M | $64.2M | $63.1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $711,000 | $710,999 | $711,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $137.4M | $145.4M | $130.4M | $126.4M | $822,850 | $911,179 | $1.4M | $2.1M | $2.6M | $4.0M | $96,391 |
| Liabilities | |||||||||||
| Accounts payable | $5.9M | $6.1M | $3.0M | $5.7M | $5.0M | $2.6M | $1.9M | $1.3M | $835,408 | $2.4M | $4.6M |
| Short-term debt | $645,000 | $640,000 | $635,000 | $631,000 | $2.3M | $2.5M | $2.2M | $2.3M | $1.6M | — | $1.3M |
| Deferred revenue | $729,000 | $978,000 | $966,000 | $1.0M | — | — | — | — | — | — | — |
| Total current liabilities | $32.0M | $25.0M | $26.0M | $24.8M | $7.3M | $5.1M | $4.1M | $3.6M | $2.8M | $2.9M | $6.5M |
| Long-term debt | $69.9M | $23.3M | $31.4M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $3.2M | $3.3M | $3.4M | $3.5M | — | — | $0 | — | — | — | — |
| Other long-term liabilities | $37.0M | $62.0M | $34.1M | $43.4M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total liabilities | $138.9M | $110.3M | $91.5M | $68.2M | $7.3M | $5.1M | $4.1M | $3.6M | $2.8M | $2.9M | $6.5M |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | — | — | — | — | $67 | $621 | $613 | $583 | $584 | $578 | $391 |
| Retained earnings (deficit) | −$113.3M | −$75.0M | −$64.8M | −$43.1M | −$26.9M | −$23.4M | −$21.5M | −$19.5M | −$17.9M | −$16.1M | −$13.5M |
| Accumulated other comprehensive income | $2.1M | $3.2M | — | — | — | — | — | — | — | — | — |
| Total shareholders' equity | −$1.5M | $35.1M | $38.9M | $58.3M | −$6.5M | −$4.2M | −$2.7M | −$1.4M | −$182,521 | $1.1M | −$6.4M |
| Key figures | |||||||||||
| Total debt | $73.1M | $52.9M | $34.8M | $3.5M | $2.3M | $2.5M | $2.2M | $2.3M | $1.6M | — | $1.3M |
| Net cash (debt) | −$48.5M | −$20.7M | −$16.8M | $10.8M | −$2.2M | −$2.4M | −$1.7M | −$1.0M | $817,814 | — | −$1.2M |
| Working capital | $31.4M | $44.1M | $26.7M | $24.3M | −$6.5M | −$4.2M | −$2.7M | −$1.4M | −$182,521 | $1.1M | −$6.4M |
| Tangible book value | −$63.6M | −$28.0M | −$25.3M | −$4.9M | −$6.5M | −$4.2M | −$2.7M | −$1.4M | −$182,521 | $1.1M | −$6.4M |
| Book value per share | −$0.42 | $10.60 | $12.33 | — | — | — | — | — | — | — | — |
| Shares outstanding | 3.5M | 3.3M | 3.2M | — | — | — | — | — | — | — | — |
| Current ratio | 1.98 | 2.76 | 2.03 | 1.98 | 0.11 | 0.18 | 0.34 | 0.60 | 0.93 | 1.39 | 0.01 |
| Quick ratio | 1.22 | 1.76 | 1.03 | 0.90 | 0.01 | 0.03 | 0.14 | 0.36 | 0.88 | 1.31 | 0.01 |
| Debt / equity | — | 1.51 | 0.90 | 0.06 | — | — | — | — | — | — | — |
| Equity / assets | −1.1% | 24.1% | 29.8% | 46.1% | −789.2% | −460.5% | −198.2% | −66.7% | −7.0% | 28.0% | −6,685.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 19, 2026); data from EODHD.
PTHS financial position
At the end of fiscal 2025 (December 31, 2025), Pelthos Therapeutics had total assets of $130.4 million (up 9,424.0% from a year earlier), total liabilities of $91.5 million and shareholders' equity of $38.9 million. It held $18.0 million in cash and short-term investments against $34.8 million of debt, net debt of $16.8 million. Its current ratio was 2.03. In the latest quarter (ended June 30, 2026) total assets were $137.4 million and equity -$1.5 million.
Related: PTHS income statement, PTHS cash flow statement, PTHS key metrics. See the PTHS stock overview for the latest quote and news.
PTHS balance sheet FAQ
What are Pelthos Therapeutics's total assets?
Pelthos Therapeutics reported total assets of $130.4 million at the end of fiscal 2025 (December 31, 2025), compared with $1.4 million a year earlier.
How much debt does Pelthos Therapeutics have?
Pelthos Therapeutics had $34.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.90.
How much cash does Pelthos Therapeutics have?
Pelthos Therapeutics held $18.0 million in cash and short-term investments at the end of fiscal 2025; with $34.8 million of debt that is net debt of $16.8 million.
What is Pelthos Therapeutics's book value?
Pelthos Therapeutics's shareholders' equity (book value) was $38.9 million at the end of fiscal 2025, or $20.68 per share.
What is Pelthos Therapeutics's current ratio?
Pelthos Therapeutics had current assets of $52.7 million and current liabilities of $26.0 million, a current ratio of 2.03 (it can cover its short-term obligations).
How much goodwill does Pelthos Therapeutics have?
Pelthos Therapeutics carried $64.2 million of goodwill and intangible assets, 49.2% of total assets, at the end of fiscal 2025.