RedCloud Holdings plc (RCT) Balance Sheet
RCT balance sheet, 2025
December 31, 2025 · U.S. dollars$12.7M assets = $19.6M liabilities + −$7.0M equity
Liabilities exceed assets: shareholders’ equity is negative (−$7.0M).
Both columns are drawn to the same scale: what RCT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
RCT financial health
Descriptive bands, not a rating. Fiscal 2025.
RCT balance sheet trends, 2022–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $7.9M2022 | $12.7M2025 | +16.9%/yr | |
| Total liabilities | $22.4M2022 | $19.6M2025 | −4.3%/yr | |
| Shareholders’ equity | −$14.4M2022 | −$7.0M2025 | — | |
| Cash & short-term investments | $2.2M2022 | $478,9832025 | −40.3%/yr | |
| Total debt | $21.5M2022 | $11.9M2025 | −17.9%/yr | |
| Net cash (debt) | −$19.3M2022 | −$11.4M2025 | +$7.9M | |
| Working capital | $458,2352022 | −$14.3M2025 | −$14.7M | |
| Book value per share | −$0.922022 | −$0.132025 | — | |
| Current ratio | 1.142022 | 0.272025 | −0.87 | |
| Shares outstanding | 15.7M2022 | 55.6M2025 | +52.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
RCT assets
RCT liabilities and equity
RCT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
RCT balance sheet
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Assets | ||||
| Cash & short-term investments | $478,983 | $800,735 | $587,150 | $2.2M |
| Cash & equivalents | $478,983 | $800,735 | $587,150 | $2.2M |
| Receivables | $3.1M | $7.7M | $1.9M | $1.5M |
| Inventory | $0 | $0 | $0 | $0 |
| Other current assets | $1.7M | $2.3M | $110,299 | $8,435 |
| Total current assets | $5.3M | $10.8M | $2.6M | $3.7M |
| Property, plant & equipment (net) | $444,967 | $593,357 | $127,148 | $69,211 |
| Goodwill & intangible assets | $6.7M | $6.2M | $4.6M | $4.1M |
| Long-term investments | $134,475 | $0 | $0 | $0 |
| Other non-current assets | $1 | $0 | $0 | $0 |
| Total assets | $12.7M | $17.6M | $7.3M | $7.9M |
| Liabilities | ||||
| Accounts payable | $2.4M | $3.4M | $1.0M | $310,800 |
| Short-term debt | $11.9M | $50.6M | $16.2M | $2.4M |
| Total current liabilities | $19.6M | $63.8M | $20.5M | $3.3M |
| Long-term debt | $0 | $22.6M | $9.4M | $19.1M |
| Other long-term liabilities | $0 | $0 | $0 | $0 |
| Total liabilities | $19.6M | $86.3M | $29.9M | $22.4M |
| Shareholders' equity | ||||
| Common stock & paid-in capital | $137,820 | $65,280 | $56,798 | $45,746 |
| Retained earnings (deficit) | −$194.7M | −$148.4M | −$97.7M | −$65.3M |
| Accumulated other comprehensive income | $4.1M | $5.2M | $2.0M | $1.1M |
| Total shareholders' equity | −$7.0M | −$68.8M | −$22.6M | −$14.4M |
| Key figures | ||||
| Total debt | $11.9M | $73.2M | $25.6M | $21.5M |
| Net cash (debt) | −$11.4M | −$72.4M | −$25.0M | −$19.3M |
| Working capital | −$14.3M | −$53.0M | −$17.9M | $458,235 |
| Tangible book value | −$13.7M | −$74.9M | −$27.2M | −$18.6M |
| Book value per share | −$0.13 | −$2.83 | −$1.18 | −$0.92 |
| Shares outstanding | 55.6M | 24.3M | 19.2M | 15.7M |
| Current ratio | 0.27 | 0.17 | 0.13 | 1.14 |
| Quick ratio | 0.18 | 0.13 | 0.12 | 1.14 |
| Equity / assets | −55.0% | −391.6% | −307.6% | −182.4% |
| 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 | $853,118 | $478,983 | $478,983 | $869,081 | $869,081 | $800,735 | $800,735 | $800,735 | $2.2M | $2.2M | $587,150 | $587,150 |
| Cash & equivalents | $766,859 | $478,983 | $478,983 | $869,081 | $869,081 | $800,735 | $800,735 | $800,735 | $2.2M | $2.2M | $587,150 | $587,150 |
| Short-term investments | $86,259 | — | — | — | — | — | — | — | — | — | — | — |
| Receivables | $289,941 | $3.1M | $3.0M | $3.9M | $2.6M | $7.7M | $7.7M | $5.5M | $1.9M | $1.9M | $1.9M | $1.9M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $3.0M | $1.7M | $1.8M | $1.0M | $2.2M | $2.3M | $2.3M | $4.5M | $407,714 | $407,714 | $110,299 | $110,299 |
| Total current assets | $4.2M | $5.3M | $5.3M | $5.8M | $5.8M | $10.8M | $10.8M | $10.8M | $4.5M | $4.5M | $2.6M | $2.6M |
| Property, plant & equipment (net) | $302,498 | $444,967 | $444,967 | $574,334 | $574,334 | $593,357 | $593,357 | $593,357 | $361,974 | $361,974 | $127,148 | $127,148 |
| Goodwill & intangible assets | $6.9M | $6.7M | $6.7M | $7.1M | $7.1M | $6.2M | $6.2M | $6.2M | $4.7M | $4.7M | $4.6M | $4.6M |
| Long-term investments | $0 | $0 | $134,475 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $263,229 | $134,476 | $1 | $0 | $0 | $0 | $0 | $0 | $900 | $900 | $0 | $0 |
| Total assets | $11.7M | $12.7M | $12.7M | $13.4M | $13.4M | $17.6M | $17.6M | $17.6M | $9.6M | $9.6M | $7.3M | $7.3M |
| Liabilities | ||||||||||||
| Accounts payable | $6.9M | $2.4M | $2.4M | $4.2M | $4.2M | $3.4M | $3.4M | $3.4M | $1.6M | $1.6M | $1.0M | $1.0M |
| Short-term debt | $18.4M | $11.9M | — | $9.3M | — | $50.6M | $50.6M | $50.6M | $13.2M | $13.2M | $16.2M | $16.2M |
| Total current liabilities | $32.3M | $19.6M | $19.6M | $21.4M | $21.4M | $63.8M | $63.8M | $63.8M | $18.8M | $18.8M | $20.5M | $20.5M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $22.6M | $0 | $35.5M | $0 | $9.4M | $0 |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $0 | $22.6M | $0 | $22.6M | $0 | $35.5M | $0 | $9.4M |
| Total liabilities | $32.3M | $19.6M | $19.6M | $21.4M | $21.4M | $86.3M | $86.3M | $86.3M | $54.2M | $54.2M | $29.9M | $29.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $165,397 | $137,820 | — | $115,636 | — | $65,280 | $65,280 | $65,280 | $65,249 | $65,249 | $56,798 | $56,798 |
| Retained earnings (deficit) | −$213.2M | −$194.7M | −$194.7M | −$175.0M | −$175.0M | −$148.4M | −$148.4M | −$148.4M | −$121.6M | −$121.6M | −$97.7M | −$97.7M |
| Accumulated other comprehensive income | $3.9M | $4.1M | — | $13.8M | — | $5.2M | $5.2M | $5.2M | $3.8M | $3.8M | $2.0M | $2.0M |
| Total shareholders' equity | −$20.6M | −$7.0M | −$7.0M | −$8.0M | −$8.0M | −$68.8M | −$68.8M | −$68.8M | −$44.6M | −$44.6M | −$22.6M | −$22.6M |
| Key figures | ||||||||||||
| Total debt | $18.4M | $11.9M | — | $9.3M | — | $73.2M | $73.2M | $73.2M | $48.7M | $48.7M | $25.6M | $25.6M |
| Net cash (debt) | −$17.5M | −$11.4M | — | −$8.5M | — | −$72.4M | −$72.4M | −$72.4M | −$46.5M | −$46.5M | −$25.0M | −$25.0M |
| Working capital | −$28.1M | −$14.3M | −$14.3M | −$15.7M | −$15.7M | −$53.0M | −$53.0M | −$53.0M | −$14.2M | −$14.2M | −$17.9M | −$17.9M |
| Tangible book value | −$27.5M | −$13.7M | −$13.7M | −$15.1M | −$15.1M | −$74.9M | −$74.9M | −$74.9M | −$49.3M | −$49.3M | −$27.2M | −$27.2M |
| Book value per share | −$0.37 | — | −$0.13 | −$0.22 | −$0.18 | — | — | — | −$0.95 | −$0.95 | −$0.51 | — |
| Shares outstanding | 55.4M | — | 55.3M | 35.7M | 44.2M | — | — | — | 47.1M | 47.1M | 44.2M | — |
| Current ratio | 0.13 | 0.27 | 0.27 | 0.27 | 0.27 | 0.17 | 0.17 | 0.17 | 0.24 | 0.24 | 0.13 | 0.13 |
| Quick ratio | 0.04 | 0.18 | 0.18 | 0.22 | 0.16 | 0.13 | 0.13 | 0.10 | 0.22 | 0.22 | 0.12 | 0.12 |
| Equity / assets | −176.9% | −55.0% | −55.0% | −59.7% | −59.7% | −391.6% | −391.6% | −391.6% | −463.8% | −463.8% | −307.6% | −307.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed May 15, 2026); data from EODHD.
RCT financial position
At the end of fiscal 2025 (December 31, 2025), RedCloud had total assets of $12.7 million (down 27.9% from a year earlier), total liabilities of $19.6 million and shareholders' equity of -$7.0 million. It held $0.5 million in cash and short-term investments against $11.9 million of debt, net debt of $11.4 million. Its current ratio was 0.27. In the latest quarter (ended June 30, 2026) total assets were $11.7 million and equity -$20.6 million.
Related: RCT income statement, RCT cash flow statement, RCT key metrics. See the RCT stock overview for the latest quote and news.
RCT balance sheet FAQ
What are RedCloud's total assets?
RedCloud reported total assets of $12.7 million at the end of fiscal 2025 (December 31, 2025), compared with $17.6 million a year earlier.
How much debt does RedCloud have?
RedCloud had $11.9 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was —.
How much cash does RedCloud have?
RedCloud held $0.5 million in cash and short-term investments at the end of fiscal 2025; with $11.9 million of debt that is net debt of $11.4 million.
What is RedCloud's book value?
RedCloud's shareholders' equity (book value) was -$7.0 million at the end of fiscal 2025, or −$0.13 per share.
What is RedCloud's current ratio?
RedCloud had current assets of $5.3 million and current liabilities of $19.6 million, a current ratio of 0.27 (current liabilities exceed current assets).
How much goodwill does RedCloud have?
RedCloud carried $6.7 million of goodwill and intangible assets, 53.2% of total assets, at the end of fiscal 2025.