Quantum X Labs Inc. (QXL) Balance Sheet
QXL balance sheet, 2025
December 31, 2025 · U.S. dollars$10.8M assets = $5.8M liabilities + $5.0M equity
Both columns are drawn to the same scale: what QXL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
QXL financial health
Descriptive bands, not a rating. Fiscal 2025.
QXL balance sheet trends, 2022–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $63.7M2022 | $10.8M2025 | −44.7%/yr | |
| Total liabilities | $33.8M2022 | $5.8M2025 | −44.5%/yr | |
| Shareholders’ equity | $22.0M2022 | $5.0M2025 | −39.0%/yr | |
| Cash & short-term investments | $4.2M2022 | $1.0M2025 | −37.6%/yr | |
| Total debt | $2.9M2022 | $2.5M2025 | −4.7%/yr | |
| Net cash (debt) | $1.3M2022 | −$1.5M2025 | −$2.8M | |
| Working capital | $1.3M2022 | −$2.4M2025 | −$3.7M | |
| Book value per share | $1.092024 | $0.592025 | −46.0%/yr | |
| Current ratio | 1.052022 | 0.412025 | −0.64 | |
| Debt / equity | 0.132022 | 0.502025 | +0.37 | |
| Shares outstanding | 5.3M2024 | 8.5M2025 | +60.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
QXL assets
QXL liabilities and equity
QXL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
QXL balance sheet
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Assets | ||||
| Cash & short-term investments | $1.0M | $24,000 | $1.8M | $4.2M |
| Cash & equivalents | $1.0M | $24,000 | $1.8M | $4.2M |
| Receivables | $344,000 | $557,000 | $11.4M | $20.9M |
| Inventory | $0 | $0 | $0 | $0 |
| Other current assets | $290,000 | $7.2M | $4.7M | $4.7M |
| Total current assets | $1.7M | $7.8M | $17.8M | $29.8M |
| Property, plant & equipment (net) | $56,000 | $17,000 | $642,000 | $788,000 |
| Goodwill & intangible assets | $8.4M | $3.0M | $24.7M | $32.7M |
| Long-term investments | $600,000 | $0 | $0 | $0 |
| Other non-current assets | $12,000 | $11.2M | $147,000 | $392,000 |
| Total assets | $10.8M | $22.0M | $43.3M | $63.7M |
| Liabilities | ||||
| Accounts payable | $762,000 | $1.6M | $9.4M | $14.3M |
| Short-term debt | $1.9M | — | — | — |
| Total current liabilities | $4.1M | $12.9M | $19.8M | $28.5M |
| Long-term debt | $586,000 | $496,000 | $3.1M | $2.9M |
| Lease obligations | — | $0 | $389,000 | $475,000 |
| Other long-term liabilities | $1.1M | $1.0M | $1.8M | $2.4M |
| Total liabilities | $5.8M | $14.5M | $24.7M | $33.8M |
| Shareholders' equity | ||||
| Common stock & paid-in capital | $4,000 | — | — | — |
| Retained earnings (deficit) | −$46.0M | −$22.7M | −$10.7M | −$3.3M |
| Minority interest | $0 | $1.7M | $3.8M | $7.9M |
| Total shareholders' equity | $5.0M | $5.8M | $14.8M | $22.0M |
| Key figures | ||||
| Total debt | $2.5M | $496,000 | $3.1M | $2.9M |
| Net cash (debt) | −$1.5M | −$472,000 | −$1.3M | $1.3M |
| Working capital | −$2.4M | −$5.2M | −$2.0M | $1.3M |
| Tangible book value | −$3.4M | $2.8M | −$9.9M | −$10.7M |
| Book value per share | $0.59 | $1.09 | — | — |
| Shares outstanding | 8.5M | 5.3M | — | — |
| Current ratio | 0.41 | 0.60 | 0.90 | 1.05 |
| Quick ratio | 0.34 | 0.04 | 0.66 | 0.88 |
| Debt / equity | 0.50 | 0.09 | 0.21 | 0.13 |
| Equity / assets | 46.4% | 26.3% | 34.2% | 34.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $2.4M | $1.8M | $1.0M | $2.2M | $2.0M | $181,000 | $24,000 |
| Cash & equivalents | $2.4M | $1.8M | $1.0M | $2.2M | $2.0M | $181,000 | $24,000 |
| Receivables | $281,000 | $679,000 | $344,000 | $1.3M | $1.0M | $1.0M | $557,000 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $781,000 | $422,000 | $290,000 | $611,000 | $1.1M | $5.3M | $7.2M |
| Total current assets | $3.5M | $2.9M | $1.7M | $4.1M | $4.1M | $6.5M | $7.8M |
| Property, plant & equipment (net) | $205,000 | $44,000 | $56,000 | $81,000 | $108,000 | $129,000 | $17,000 |
| Goodwill & intangible assets | $23.0M | $24.2M | $8.4M | $12.7M | $15.8M | $19.7M | $3.0M |
| Long-term investments | $4.4M | $600,000 | $600,000 | $0 | $0 | $0 | $0 |
| Other non-current assets | $5,000 | $9,000 | $12,000 | $28,000 | $38,000 | $48,000 | $11.2M |
| Total assets | $31.2M | $27.7M | $10.8M | $16.9M | $20.1M | $26.4M | $22.0M |
| Liabilities | |||||||
| Accounts payable | $1.1M | $1.1M | $762,000 | $4.7M | $5.5M | $5.0M | $1.6M |
| Short-term debt | $1.7M | $1.9M | $1.9M | $3.0M | $6.3M | — | — |
| Total current liabilities | $4.0M | $4.2M | $4.1M | $8.6M | $12.7M | $15.4M | $12.9M |
| Long-term debt | $195,000 | $390,000 | $586,000 | $781,000 | $0 | $0 | $496,000 |
| Lease obligations | — | — | — | — | — | — | $0 |
| Other long-term liabilities | $1.1M | $1.4M | $1.1M | $1.8M | $2.1M | $2.2M | $1.0M |
| Total liabilities | $5.4M | $6.0M | $5.8M | $11.1M | $14.8M | $17.6M | $14.5M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $5,000 | $4,000 | $4,000 | $4,000 | $4,000 | — | — |
| Retained earnings (deficit) | −$44.2M | −$46.7M | −$46.0M | −$45.5M | −$42.1M | −$26.4M | −$22.7M |
| Minority interest | $0 | $79,000 | $0 | $243,000 | $803,000 | — | — |
| Total shareholders' equity | $25.8M | $21.6M | $5.0M | $5.6M | $4.5M | $7.3M | $5.8M |
| Key figures | |||||||
| Total debt | $1.9M | $2.3M | $2.5M | $3.8M | $6.3M | — | $496,000 |
| Net cash (debt) | $530,000 | −$512,000 | −$1.5M | −$1.6M | −$4.3M | — | −$472,000 |
| Working capital | −$550,000 | −$1.3M | −$2.4M | −$4.4M | −$8.5M | −$8.8M | −$5.2M |
| Tangible book value | $2.8M | −$2.6M | −$3.4M | −$7.1M | −$11.3M | −$12.5M | $2.8M |
| Book value per share | $1.28 | $1.88 | $0.47 | $0.53 | $0.63 | $1.10 | $1.09 |
| Shares outstanding | 20.1M | 11.5M | 10.7M | 10.5M | 7.2M | 6.6M | 5.3M |
| Current ratio | 0.86 | 0.68 | 0.41 | 0.48 | 0.33 | 0.42 | 0.60 |
| Quick ratio | 0.67 | 0.58 | 0.34 | 0.41 | 0.24 | 0.08 | 0.04 |
| Debt / equity | 0.07 | 0.11 | 0.50 | 0.68 | 1.38 | — | 0.09 |
| Equity / assets | 82.7% | 78.0% | 46.4% | 32.9% | 22.5% | 27.5% | 26.3% |
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.
QXL financial position
At the end of fiscal 2025 (December 31, 2025), Quantum X Labs had total assets of $10.8 million (down 51.0% from a year earlier), total liabilities of $5.8 million and shareholders' equity of $5.0 million. It held $1.0 million in cash and short-term investments against $2.5 million of debt, net debt of $1.5 million. Its current ratio was 0.41. In the latest quarter (ended June 30, 2026) total assets were $31.2 million and equity $25.8 million.
Related: QXL income statement, QXL cash flow statement, QXL key metrics. See the QXL stock overview for the latest quote and news.
QXL balance sheet FAQ
What are Quantum X Labs's total assets?
Quantum X Labs reported total assets of $10.8 million at the end of fiscal 2025 (December 31, 2025), compared with $22.0 million a year earlier.
How much debt does Quantum X Labs have?
Quantum X Labs had $2.5 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.50.
How much cash does Quantum X Labs have?
Quantum X Labs held $1.0 million in cash and short-term investments at the end of fiscal 2025; with $2.5 million of debt that is net debt of $1.5 million.
What is Quantum X Labs's book value?
Quantum X Labs's shareholders' equity (book value) was $5.0 million at the end of fiscal 2025, or $0.59 per share.
What is Quantum X Labs's current ratio?
Quantum X Labs had current assets of $1.7 million and current liabilities of $4.1 million, a current ratio of 0.41 (current liabilities exceed current assets).
How much goodwill does Quantum X Labs have?
Quantum X Labs carried $8.4 million of goodwill and intangible assets, 78.4% of total assets, at the end of fiscal 2025.