Rain Enhancement Technologies Holdco, Inc. (RAIN) Balance Sheet
RAIN balance sheet, 2025
December 31, 2025 · U.S. dollars$1.8M assets = $14.5M liabilities + −$12.7M equity
Liabilities exceed assets: shareholders’ equity is negative (−$12.7M).
Both columns are drawn to the same scale: what RAIN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
RAIN financial health
Descriptive bands, not a rating. Fiscal 2025.
RAIN balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $7.4M2019 | $1.8M2025 | −21.0%/yr | |
| Total liabilities | $24.6M2019 | $14.5M2025 | −8.4%/yr | |
| Shareholders’ equity | −$17.2M2019 | −$12.7M2025 | — | |
| Cash & short-term investments | $5.8M2019 | $213,6882025 | −42.3%/yr | |
| Total debt | $3.3M2019 | $9.5M2025 | +19.2%/yr | |
| Net cash (debt) | $2.5M2019 | −$9.3M2025 | −$11.8M | |
| Working capital | $5.0M2019 | −$13.0M2025 | −$18.0M | |
| Book value per share | $29.562021 | −$1.692025 | — | |
| Current ratio | 5.132019 | 0.022025 | −5.10 | |
| Shares outstanding | 4.4M2021 | 7.5M2025 | +14.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
RAIN assets
RAIN liabilities and equity
RAIN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
RAIN balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $213,688 | $32,604 | $37,345 | $100,000 | $140.2M | $58.9M | $5.8M |
| Cash & equivalents | $213,688 | $32,604 | $37,345 | $100,000 | $24.8M | $58.9M | $5.8M |
| Short-term investments | — | — | — | $68.5M | $115.4M | $22 | — |
| Receivables | $0 | $650,000 | $0 | $0 | $452,000 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $5.3M | $420,000 | $0 |
| Other current assets | $103,796 | $87,335 | $8,136 | $0 | $205,000 | $242,000 | $480,000 |
| Total current assets | $317,484 | $769,939 | $45,481 | $100,000 | $146.1M | $59.5M | $6.3M |
| Property, plant & equipment (net) | $1.4M | $414,034 | $368,206 | $104,052 | $551,000 | $546,000 | $692,000 |
| Goodwill & intangible assets | $80,752 | $92,427 | $104,102 | $116,750 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $0 | $0 | $443,000 | $1.0M | $429,000 |
| Total assets | $1.8M | $1.3M | $517,789 | $320,802 | $147.1M | $61.1M | $7.4M |
| Liabilities | |||||||
| Accounts payable | $1.5M | $1.9M | $505,383 | $220,150 | $6.1M | $816,000 | $261,000 |
| Short-term debt | $9.5M | $3.5M | $611,265 | $170,386 | $160,000 | $141,000 | $137,000 |
| Total current liabilities | $13.3M | $6.2M | $1.2M | $534,511 | $16.3M | $3.4M | $1.2M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $1.2M | $350,000 | $0 | $6.0M | $321,000 | $95.1M | $23.4M |
| Total liabilities | $14.5M | $6.6M | $1.2M | $534,511 | $16.6M | $98.5M | $24.6M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $819 | $759 | $177 | $152.4M | $27,000 | $4,000 | $3,000 |
| Retained earnings (deficit) | −$15.3M | −$6.3M | −$1.7M | −$1.3M | −$90.0M | −$38.6M | −$17.5M |
| Accumulated other comprehensive income | — | — | — | −$166,000 | −$89,000 | −$94,697 | −$20,147 |
| Total shareholders' equity | −$12.7M | −$5.3M | −$636,875 | −$213,709 | $130.5M | −$37.4M | −$17.2M |
| Key figures | |||||||
| Total debt | $9.5M | $3.5M | $611,265 | $170,386 | $412,000 | $453,000 | $3.3M |
| Net cash (debt) | −$9.3M | −$3.5M | −$573,920 | −$70,386 | $139.8M | $58.4M | $2.5M |
| Working capital | −$13.0M | −$5.4M | −$1.1M | −$434,511 | $129.8M | $56.1M | $5.0M |
| Tangible book value | −$12.8M | −$5.4M | −$740,977 | −$330,459 | $130.5M | −$37.4M | −$17.2M |
| Book value per share | −$1.69 | — | −$0.09 | −$0.05 | $29.56 | — | — |
| Shares outstanding | 7.5M | — | 6.9M | 4.7M | 4.4M | — | — |
| Current ratio | 0.02 | 0.12 | 0.04 | 0.19 | 8.96 | 17.41 | 5.13 |
| Quick ratio | 0.02 | 0.11 | 0.03 | 0.19 | 8.62 | 17.22 | 4.73 |
| Debt / equity | — | — | — | — | 0.00 | — | — |
| Equity / assets | −710.8% | −414.4% | −123.0% | −66.6% | 88.7% | −61.3% | −233.2% |
| 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 | $32,608 | $580,642 | $213,688 | $236,735 | $16,473 | $273,125 | $32,604 | $239,857 | — | — | $37,345 | $77.3M |
| Cash & equivalents | $32,608 | $580,642 | $213,688 | $236,735 | $16,473 | $273,125 | $32,604 | $239,857 | — | — | $37,345 | $37.3M |
| Short-term investments | — | — | — | — | — | — | — | — | — | — | — | $40.0M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $650,000 | $0 | $0 | $0 | $0 | $0 | $531,000 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.7M |
| Other current assets | $398,782 | $567,358 | $103,796 | $349,080 | $422,696 | $0 | $737,335 | $10,531 | $98,874 | $50,000 | $8,136 | $281,000 |
| Total current assets | $431,390 | $1.1M | $317,484 | $585,815 | $439,169 | $680,523 | $769,939 | $250,388 | $98,874 | $50,000 | $45,481 | $80.8M |
| Property, plant & equipment (net) | $1.5M | $1.4M | $1.4M | $1.3M | $1.0M | $553,421 | $414,034 | $414,033 | $0 | $0 | $368,206 | $1.1M |
| Goodwill & intangible assets | $74,914 | $77,833 | $80,752 | $83,670 | $86,589 | $89,508 | $92,427 | $95,346 | $0 | $0 | $104,102 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $414,347 | $5,433 | $0 | $0 | $0 | $0 | $0 | $0 | $31.8M | $31.4M | $0 | $180,000 |
| Total assets | $2.4M | $2.6M | $1.8M | $1.9M | $1.6M | $1.3M | $1.3M | $759,767 | $31.9M | $31.4M | $517,789 | $82.1M |
| Liabilities | ||||||||||||
| Accounts payable | $2.2M | $1.8M | $1.5M | $2.3M | $1.4M | $2.2M | $1.9M | $711,565 | — | — | $505,383 | $9.0M |
| Short-term debt | $8.9M | $12.2M | — | $7.0M | $5.9M | $4.2M | — | $806,929 | $500,000 | $500,000 | $611,265 | $456,000 |
| Total current liabilities | $13.6M | $15.9M | $13.3M | $10.7M | $8.8M | $7.7M | $6.2M | $1.6M | $3.7M | $2.7M | $1.2M | $14.5M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $109,285 | — | — | — | — | — | — | — | — | — | — | — |
| Other long-term liabilities | $996,908 | $1.0M | $1.2M | $825,000 | $512,500 | $440,000 | $350,000 | $411,249 | $411,249 | $542,850 | $329,000 | $64,000 |
| Total liabilities | $14.6M | $17.0M | $14.5M | $11.5M | $9.3M | $8.1M | $6.6M | $1.6M | $4.2M | $3.3M | $1.2M | $14.5M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1,034 | $819 | — | $819 | $759 | $759 | — | $20.1M | $31.8M | $31.4M | $177 | $37,000 |
| Retained earnings (deficit) | −$20.5M | −$17.2M | −$15.3M | −$10.9M | −$8.7M | −$7.7M | −$6.3M | −$5.1M | −$4.1M | −$3.2M | −$1.7M | −$215.3M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | — | — | — | −$64,000 |
| Total shareholders' equity | −$12.2M | −$14.3M | −$12.7M | −$9.6M | −$7.7M | −$6.8M | −$5.3M | −$808,142 | $27.7M | $28.2M | −$636,875 | $67.5M |
| Key figures | ||||||||||||
| Total debt | $9.0M | $12.2M | — | $7.0M | $5.9M | $4.2M | — | $806,929 | $500,000 | $500,000 | $611,265 | $456,000 |
| Net cash (debt) | −$8.9M | −$11.6M | — | −$6.8M | −$5.9M | −$4.0M | — | −$567,072 | −$500,000 | −$500,000 | −$573,920 | $76.9M |
| Working capital | −$13.1M | −$14.8M | −$13.0M | −$10.1M | −$8.3M | −$7.0M | −$5.4M | −$1.3M | −$3.6M | −$2.7M | −$1.1M | $66.3M |
| Tangible book value | −$12.2M | −$14.4M | −$12.8M | −$9.7M | −$7.8M | −$6.9M | −$5.4M | −$903,488 | $27.7M | $28.2M | −$740,977 | $67.5M |
| Book value per share | −$1.55 | −$1.83 | −$1.56 | −$1.27 | −$1.02 | −$0.94 | −$0.77 | −$0.12 | $4.18 | $4.25 | −$0.09 | $9.84 |
| Shares outstanding | 7.8M | 7.8M | 8.2M | 7.5M | 7.6M | 7.2M | 6.9M | 6.9M | 6.6M | 6.6M | 6.9M | 6.9M |
| Current ratio | 0.03 | 0.07 | 0.02 | 0.05 | 0.05 | 0.09 | 0.12 | 0.16 | 0.03 | 0.02 | 0.04 | 5.58 |
| Quick ratio | 0.00 | 0.04 | 0.02 | 0.02 | 0.00 | 0.12 | 0.01 | 0.15 | 0.00 | 0.00 | 0.03 | 5.38 |
| Debt / equity | — | — | — | — | — | — | — | — | 0.02 | 0.02 | — | 0.01 |
| Equity / assets | −503.7% | −546.5% | −710.8% | −493.1% | −497.6% | −511.7% | −414.4% | −106.4% | 87.0% | 89.6% | −123.0% | 82.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 15, 2026); data from EODHD.
RAIN financial position
At the end of fiscal 2025 (December 31, 2025), Rain Enhancement Technologies Holdco had total assets of $1.8 million (up 40.5% from a year earlier), total liabilities of $14.5 million and shareholders' equity of -$12.7 million. It held $0.2 million in cash and short-term investments against $9.5 million of debt, net debt of $9.3 million. Its current ratio was 0.02. In the latest quarter (ended June 30, 2026) total assets were $2.4 million and equity -$12.2 million.
Related: RAIN income statement, RAIN cash flow statement, RAIN key metrics. See the RAIN stock overview for the latest quote and news.
RAIN balance sheet FAQ
What are Rain Enhancement Technologies Holdco's total assets?
Rain Enhancement Technologies Holdco reported total assets of $1.8 million at the end of fiscal 2025 (December 31, 2025), compared with $1.3 million a year earlier.
How much debt does Rain Enhancement Technologies Holdco have?
Rain Enhancement Technologies Holdco had $9.5 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was —.
How much cash does Rain Enhancement Technologies Holdco have?
Rain Enhancement Technologies Holdco held $0.2 million in cash and short-term investments at the end of fiscal 2025; with $9.5 million of debt that is net debt of $9.3 million.
What is Rain Enhancement Technologies Holdco's book value?
Rain Enhancement Technologies Holdco's shareholders' equity (book value) was -$12.7 million at the end of fiscal 2025, or −$1.69 per share.
What is Rain Enhancement Technologies Holdco's current ratio?
Rain Enhancement Technologies Holdco had current assets of $0.3 million and current liabilities of $13.3 million, a current ratio of 0.02 (current liabilities exceed current assets).
How much goodwill does Rain Enhancement Technologies Holdco have?
Rain Enhancement Technologies Holdco carried $0.1 million of goodwill and intangible assets, 4.5% of total assets, at the end of fiscal 2025.