Rezolve AI Limited (RZLV) Balance Sheet
RZLV balance sheet, FY2025
September 30, 2025 · U.S. dollars$611.7M assets = $364.9M liabilities + $246.8M equity
Both columns are drawn to the same scale: what RZLV owns equals what it owes plus shareholders’ equity. Hover a block for its value.
RZLV financial health
Descriptive bands, not a rating. Fiscal FY2025.
RZLV balance sheet trends, FY2021–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $22.4MFY2021 | $611.7MFY2025 | +128.7%/yr | |
| Total liabilities | $24.3MFY2021 | $364.9MFY2025 | +96.9%/yr | |
| Shareholders’ equity | −$1.9MFY2021 | $246.8MFY2025 | — | |
| Cash & short-term investments | $2.7MFY2021 | $111.1MFY2025 | +153.5%/yr | |
| Total debt | $3.3MFY2021 | $157.3MFY2025 | +163.0%/yr | |
| Net cash (debt) | −$598,291FY2021 | −$46.2MFY2025 | −$45.6M | |
| Working capital | −$13.1MFY2021 | −$87.1MFY2025 | −$74.0M | |
| Book value per share | −$0.18FY2024 | $0.92FY2025 | — | |
| Current ratio | 0.31FY2021 | 0.67FY2025 | +0.36 | |
| Shares outstanding | 208.3MFY2024 | 268.0MFY2025 | +28.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
RZLV assets
RZLV liabilities and equity
RZLV debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
RZLV balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $111.1M | $9.5M | $10,441 | $39,380 | $2.7M |
| Cash & equivalents | $111.1M | $9.5M | $10,441 | $39,380 | $2.7M |
| Receivables | $44.8M | $703,706 | $181,238 | $8,855 | $2.2M |
| Inventory | $0 | $0 | $0 | $0 | $355,049 |
| Other current assets | $19.0M | $2.9M | $130,309 | $1.0M | $572,119 |
| Total current assets | $175.0M | $13.0M | $321,988 | $1.1M | $5.8M |
| Property, plant & equipment (net) | $3.5M | $17,332 | $79,593 | $110,998 | $242,944 |
| Goodwill & intangible assets | $407.7M | $6.8M | $2.1M | $7.7M | $16.3M |
| Long-term investments | $5.5M | $0 | $0 | $0 | $0 |
| Other non-current assets | $20.1M | $0 | $0 | $0 | $0 |
| Total assets | $611.7M | $19.8M | $2.5M | $1.6M | $22.4M |
| Liabilities | |||||
| Accounts payable | $35.7M | $7.3M | $4.6M | $3.7M | $1.2M |
| Short-term debt | $106.4M | — | $37.4M | $697,067 | $743,303 |
| Deferred revenue | $46.5M | — | — | — | — |
| Total current liabilities | $262.1M | $57.8M | $56.8M | $7.7M | $18.9M |
| Long-term debt | $50.1M | $0 | $0 | $25.3M | $2.5M |
| Lease obligations | $2.8M | $0 | — | — | $81,659 |
| Other long-term liabilities | $52.8M | $0 | $0 | $1.2M | $2.9M |
| Total liabilities | $364.9M | $57.8M | $56.8M | $34.2M | $24.3M |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $43,817 | — | $127,310 | $130,545 | $126,295 |
| Retained earnings (deficit) | −$359.6M | −$232.1M | −$226.3M | −$195.6M | −$85.1M |
| Accumulated other comprehensive income | $809,046 | — | −$329,464 | −$81,179 | −$503,008 |
| Total shareholders' equity | $246.8M | −$38.0M | −$54.3M | −$32.5M | −$1.9M |
| Key figures | |||||
| Total debt | $157.3M | — | $37.4M | $26.0M | $3.3M |
| Net cash (debt) | −$46.2M | — | −$37.4M | −$26.0M | −$598,291 |
| Working capital | −$87.1M | −$44.8M | −$56.5M | −$6.6M | −$13.1M |
| Tangible book value | −$160.9M | −$44.7M | −$56.4M | −$40.3M | −$18.2M |
| Book value per share | $0.92 | −$0.18 | — | — | — |
| Shares outstanding | 268.0M | 208.3M | — | — | — |
| Current ratio | 0.67 | 0.23 | 0.01 | 0.14 | 0.31 |
| Quick ratio | 0.60 | 0.18 | 0.00 | 0.01 | 0.26 |
| Debt / equity | 0.64 | — | — | — | — |
| Equity / assets | 40.3% | −192.0% | −2,140.2% | −1,972.2% | −8.6% |
| Jun '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $100.5M | $111.1M | $9.9M | $9.9M | $9.9M | $9.5M | $9.5M | $60,298 | $107,722 | $54,405 | $60,284 | $40,464 |
| Cash & equivalents | $100.5M | $111.1M | $9.9M | $9.9M | $9.9M | $9.5M | $9.5M | $60,298 | $107,722 | $54,405 | $60,284 | $40,464 |
| Short-term investments | — | — | — | — | — | — | — | −$47,056 | — | — | — | — |
| Receivables | $81.7M | $44.8M | $1.6M | $1.6M | $1.6M | $744,660 | $21,274 | $11,434 | $11,434 | $181,238 | $0 | $75,353 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $18.1M | $19.0M | $11.1M | $11.1M | $11.1M | $2.8M | $3.5M | $430,691 | $0 | $0 | $33,605 | $0 |
| Total current assets | $200.3M | $175.0M | $22.6M | $22.6M | $22.6M | $13.0M | $13.0M | $502,423 | $111,503 | $67,939 | $93,889 | $76,700 |
| Property, plant & equipment (net) | $19.1M | $3.5M | $2.4M | $2.4M | $2.4M | $17,332 | $17,332 | $61,542 | $0 | $79,593 | $0 | $119,591 |
| Goodwill & intangible assets | $677.9M | $407.7M | $53.3M | $53.3M | $53.3M | $6.8M | $6.8M | $3.4M | $3.4M | $2.1M | $0 | $589,524 |
| Long-term investments | $5.8M | $5.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $14.8M | $20.1M | $1.8M | $1.8M | $1.8M | $0 | $0 | $35 | $12.4M | $23.7M | $25.3M | $36.4M |
| Total assets | $917.9M | $611.7M | $80.1M | $80.1M | $80.1M | $19.8M | $19.8M | $4.0M | $15.9M | $25.9M | $25.4M | $37.2M |
| Liabilities | ||||||||||||
| Accounts payable | $48.0M | $35.7M | $23.0M | $23.0M | $23.0M | $7.3M | $8.4M | $4.1M | — | $4.6M | — | $4.9M |
| Short-term debt | $126.9M | $106.4M | $34.8M | $34.8M | $34.8M | $34.7M | $34.7M | $1.3M | $2.9M | $2.8M | $2.6M | $2.2M |
| Deferred revenue | $33.2M | $46.5M | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | $405.6M | $262.1M | $93.6M | $93.6M | $93.6M | $57.8M | $57.8M | $22.8M | $9.8M | $9.3M | $8.6M | $7.9M |
| Long-term debt | $30.1M | $50.1M | $0 | $121,140 | $0 | $0 | $0 | $44.1M | $0 | $0 | $0 | $0 |
| Lease obligations | $15.7M | $2.8M | — | $2.1M | — | $0 | — | — | — | — | — | — |
| Other long-term liabilities | $80.0M | $52.8M | $745,847 | $624,707 | $745,847 | $0 | $0 | $0 | $44.1M | $0 | $0 | $0 |
| Total liabilities | $515.7M | $364.9M | $94.4M | $94.4M | $94.4M | $57.8M | $57.8M | $66.9M | $9.8M | $9.3M | $8.6M | $7.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $55,000 | $43,817 | $33,394 | $33,394 | $33,394 | $26,816 | $26,816 | $16.0M | $15.7M | $25.8M | $25.3M | $36.9M |
| Retained earnings (deficit) | −$499.1M | −$359.6M | −$316.1M | −$316.1M | −$316.1M | −$232.1M | −$232.1M | −$11.1M | −$9.6M | −$9.3M | −$8.5M | −$7.7M |
| Accumulated other comprehensive income | −$9.2M | $809,046 | −$383,986 | −$383,986 | −$383,986 | −$10,270 | −$10,349 | −$221,000 | — | — | — | −$1.3M |
| Total shareholders' equity | $402.2M | $246.8M | −$14.3M | −$14.3M | −$14.3M | −$38.0M | −$38.0M | −$62.9M | $6.1M | $16.6M | $16.8M | $29.4M |
| Key figures | ||||||||||||
| Total debt | $184.4M | $157.3M | $35.6M | $35.6M | $35.6M | $34.7M | $34.7M | $45.4M | $2.9M | $2.8M | $2.6M | $2.2M |
| Net cash (debt) | −$83.9M | −$46.2M | −$25.7M | −$25.7M | −$25.7M | −$25.3M | −$25.3M | −$45.4M | −$2.8M | −$2.7M | −$2.5M | −$2.2M |
| Working capital | −$205.2M | −$87.1M | −$71.1M | −$71.1M | −$71.1M | −$44.8M | −$44.8M | −$22.3M | −$9.7M | −$9.2M | −$8.5M | −$7.8M |
| Tangible book value | −$275.6M | −$160.9M | −$67.6M | −$67.6M | −$67.6M | −$44.7M | −$44.7M | −$66.3M | $2.7M | $14.5M | $16.8M | $28.8M |
| Book value per share | $1.00 | $0.74 | −$0.06 | −$0.06 | −$0.06 | −$0.18 | −$0.18 | −$0.07 | $0.01 | — | — | $0.03 |
| Shares outstanding | 402.9M | 333.3M | 233.5M | 233.5M | 233.5M | 208.3M | 208.3M | 927.9M | 927.9M | — | — | 922.0M |
| Current ratio | 0.49 | 0.67 | 0.24 | 0.24 | 0.24 | 0.23 | 0.23 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 |
| Quick ratio | 0.45 | 0.60 | 0.12 | 0.12 | 0.12 | 0.18 | 0.16 | 0.00 | 0.01 | 0.03 | 0.01 | 0.01 |
| Debt / equity | 0.46 | 0.64 | — | — | — | — | — | — | 0.48 | 0.17 | 0.15 | 0.07 |
| Equity / assets | 43.8% | 40.3% | −17.8% | −17.8% | −17.8% | −192.0% | −192.0% | −1,589.6% | 38.5% | 64.1% | 66.2% | 78.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
RZLV financial position
At the end of fiscal 2025 (September 30, 2025), Rezolve AI had total assets of $611.7 million (up 2,991.4% from a year earlier), total liabilities of $364.9 million and shareholders' equity of $246.8 million. It held $111.1 million in cash and short-term investments against $157.3 million of debt, net debt of $46.2 million. Its current ratio was 0.67. In the latest quarter (ended June 30, 2026) total assets were $917.9 million and equity $402.2 million.
Related: RZLV income statement, RZLV cash flow statement, RZLV key metrics. See the RZLV stock overview for the latest quote and news.
RZLV balance sheet FAQ
What are Rezolve AI's total assets?
Rezolve AI reported total assets of $611.7 million at the end of fiscal 2025 (September 30, 2025), compared with $19.8 million a year earlier.
How much debt does Rezolve AI have?
Rezolve AI had $157.3 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.64.
How much cash does Rezolve AI have?
Rezolve AI held $111.1 million in cash and short-term investments at the end of fiscal 2025; with $157.3 million of debt that is net debt of $46.2 million.
What is Rezolve AI's book value?
Rezolve AI's shareholders' equity (book value) was $246.8 million at the end of fiscal 2025, or $0.92 per share.
What is Rezolve AI's current ratio?
Rezolve AI had current assets of $175.0 million and current liabilities of $262.1 million, a current ratio of 0.67 (current liabilities exceed current assets).
How much goodwill does Rezolve AI have?
Rezolve AI carried $407.7 million of goodwill and intangible assets, 66.6% of total assets, at the end of fiscal 2025.