Stablecoin Development Corporation (SDEV) Balance Sheet
SDEV balance sheet, 2025
December 31, 2025 · U.S. dollars$10.6M assets = $33.5M liabilities + −$22.8M equity
Liabilities exceed assets: shareholders’ equity is negative (−$22.8M).
Both columns are drawn to the same scale: what SDEV owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SDEV financial health
Descriptive bands, not a rating. Fiscal 2025.
SDEV balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $15.4M2016 | $10.6M2025 | −4.0%/yr | |
| Total liabilities | $8.3M2016 | $33.5M2025 | +16.8%/yr | |
| Shareholders’ equity | $7.1M2016 | −$22.8M2025 | — | |
| Cash & short-term investments | $9.5M2016 | $8.0M2025 | −2.0%/yr | |
| Total debt | $4.0M2019 | $776,0002025 | −24.1%/yr | |
| Net cash (debt) | $2.9M2019 | $7.2M2025 | +$4.3M | |
| Working capital | $10.1M2016 | $7.3M2025 | −$2.9M | |
| Current ratio | 3.352016 | 7.392025 | +4.04 | |
| Debt / equity | 4.162019 | 0.792023 | −3.37 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SDEV assets
SDEV liabilities and equity
SDEV debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SDEV balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $8.0M | $430,000 | $2.9M | $5.4M | $7.5M | $12.0M | $6.9M | $3.2M | $3.2M | $9.5M |
| Cash & equivalents | $8.0M | $430,000 | $2.9M | $5.4M | $7.5M | $12.0M | $6.9M | $3.2M | $3.2M | $9.5M |
| Receivables | $0 | $389,000 | $680,000 | $2.0M | $1.7M | $1.1M | $1.1M | $3.5M | $3.7M | $2.1M |
| Inventory | $0 | $765,000 | $501,000 | $3.4M | $3.2M | $608,000 | $492,000 | $280,000 | $504,000 | $873,000 |
| Other current assets | $476,000 | $351,000 | $3.0M | $560,000 | $778,000 | $576,000 | $886,000 | $1.7M | $1.6M | $2.0M |
| Total current assets | $8.4M | $1.9M | $7.2M | $11.3M | $13.2M | $14.2M | $9.4M | $8.6M | $9.0M | $14.5M |
| Property, plant & equipment (net) | $0 | $955,000 | $1.4M | $1.9M | $604,000 | $520,000 | $1.4M | $201,000 | $471,000 | $371,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $2.6M | $9.7M | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $2.2M | $43.0M | $41.9M | $489,000 | $476,000 | $33.5M | $477,000 | $552,000 | $613,000 | $539,000 |
| Total assets | $10.6M | $45.9M | $50.4M | $16.4M | $24.0M | $48.2M | $11.2M | $9.4M | $10.1M | $15.4M |
| Liabilities | ||||||||||
| Accounts payable | $257,000 | $109,000 | $906,000 | $1.1M | $1.0M | $302,000 | $331,000 | $551,000 | $466,000 | $455,000 |
| Short-term debt | $489,000 | $963,000 | $1.5M | $453,000 | $305,000 | $416,000 | $3.5M | — | — | — |
| Deferred revenue | — | $488,000 | $946,000 | $1.8M | $1.3M | — | — | $142,000 | $2.8M | $2.1M |
| Total current liabilities | $1.1M | $2.8M | $4.3M | $4.3M | $3.4M | $2.8M | $5.7M | $3.8M | $5.0M | $4.3M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $709,000 | $1.1M | $1.5M | $2.0M | — | — | — | — | — | — |
| Other long-term liabilities | $32.3M | $43.2M | $42.8M | $1.6M | $10.4M | $33.1M | $4.6M | $560,000 | $2.5M | $4.0M |
| Total liabilities | $33.5M | $46.0M | $47.1M | $5.8M | $13.8M | $35.9M | $10.2M | $4.4M | $7.5M | $8.3M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $252,000 | $10,000 | $3,000 | $652,000 | $478,000 | $418,000 | $279,000 | $171,000 | $154,000 | $153,000 |
| Retained earnings (deficit) | −$210.4M | −$183.5M | −$174.8M | −$158.2M | −$141.9M | −$136.1M | −$125.0M | −$115.0M | −$111.1M | −$103.7M |
| Total shareholders' equity | −$22.8M | −$129,000 | $3.3M | $10.6M | $10.2M | $12.3M | $973,000 | $5.0M | $2.6M | $7.1M |
| Key figures | ||||||||||
| Total debt | $776,000 | $1.7M | $2.6M | $2.0M | $551,000 | $503,000 | $4.0M | — | — | — |
| Net cash (debt) | $7.2M | −$1.2M | $311,000 | $3.3M | $7.0M | $11.4M | $2.9M | — | — | — |
| Working capital | $7.3M | −$908,000 | $2.9M | $7.1M | $9.7M | $11.4M | $3.7M | $4.8M | $4.0M | $10.1M |
| Tangible book value | −$22.8M | −$129,000 | $3.3M | $7.9M | $443,000 | $12.3M | $973,000 | $5.0M | $2.6M | $7.1M |
| Current ratio | 7.39 | 0.68 | 1.67 | 2.66 | 3.83 | 5.03 | 1.65 | 2.24 | 1.81 | 3.35 |
| Quick ratio | 6.97 | 0.29 | 0.84 | 1.72 | 2.66 | 4.61 | 1.41 | 1.74 | 1.39 | 2.69 |
| Debt / equity | — | — | 0.79 | 0.19 | 0.05 | 0.04 | 4.16 | — | — | — |
| Equity / assets | −214.4% | −0.3% | 6.6% | 64.4% | 42.4% | 25.5% | 8.7% | 52.9% | 25.7% | 46.2% |
| 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 | $7.0M | $18.4M | $8.0M | $2.3M | $5.5M | $8.6M | $430,000 | $776,000 | $751,000 | $1.8M | $2.9M | $3.5M |
| Cash & equivalents | $7.0M | $18.4M | $8.0M | $2.3M | $5.5M | $8.6M | $430,000 | $776,000 | $751,000 | $1.8M | $2.9M | $3.5M |
| Receivables | $0 | $0 | $0 | $374,000 | $3,000 | $223,000 | $389,000 | $704,000 | $547,000 | $734,000 | $680,000 | $916,000 |
| Inventory | $0 | $0 | $0 | $0 | $467,000 | $0 | $765,000 | $473,000 | $700,000 | $663,000 | $501,000 | $3.5M |
| Other current assets | $1.1M | $502,000 | $476,000 | $179,000 | $167,000 | $214,000 | $351,000 | $326,000 | $255,000 | $371,000 | $3.0M | $333,000 |
| Total current assets | $8.1M | $18.9M | $8.4M | $2.9M | $6.1M | $9.0M | $1.9M | $2.3M | $2.3M | $3.6M | $7.2M | $8.2M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $195,000 | $317,000 | $355,000 | $955,000 | $1.1M | $1.2M | $1.3M | $1.4M | $1.6M |
| Goodwill & intangible assets | $119.2M | $160.1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.5M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $177,000 | $750,000 | $2.2M | $430,000 | $479,000 | $479,000 | $43.0M | $495,000 | $476,000 | $477,000 | $41.9M | $501,000 |
| Total assets | $127.5M | $179.7M | $10.6M | $3.5M | $6.9M | $9.9M | $45.9M | $3.9M | $3.9M | $5.4M | $50.4M | $12.9M |
| Liabilities | ||||||||||||
| Accounts payable | $0 | $2.0M | $257,000 | $76,000 | $604,000 | $800,000 | $109,000 | $396,000 | $1.2M | $1.1M | $906,000 | $947,000 |
| Short-term debt | — | $471,000 | $489,000 | $565,000 | $520,000 | $487,000 | $963,000 | $441,000 | $1.1M | $1.4M | $1.5M | $1.8M |
| Deferred revenue | — | — | — | — | — | — | $488,000 | — | — | — | $946,000 | $1.1M |
| Total current liabilities | $270,000 | $3.6M | $1.1M | $1.4M | $2.1M | $3.1M | $2.8M | $2.0M | $3.6M | $3.9M | $4.3M | $4.6M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $0 | $637,000 | $709,000 | $821,000 | $931,000 | $1.0M | $1.1M | — | — | — | — | — |
| Other long-term liabilities | $0 | $37.3M | $32.3M | $405,000 | $521,999 | $637,999 | $43.2M | $821,000 | $931,999 | $1.3M | $42.8M | $1.2M |
| Total liabilities | $270,000 | $40.9M | $33.5M | $1.9M | $2.7M | $3.7M | $46.0M | $2.8M | $4.5M | $5.2M | $47.1M | $5.8M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $506,000 | $267,000 | $252,000 | $60,000 | $58,000 | $58,000 | $10,000 | $49,000 | $13,000 | $320,000 | $3,000 | $65,000 |
| Retained earnings (deficit) | −$307.7M | −$266.7M | −$210.4M | −$183.8M | −$177.7M | −$175.8M | −$183.5M | −$182.2M | −$180.0M | −$178.4M | −$174.8M | −$165.7M |
| Total shareholders' equity | $127.2M | $138.8M | −$22.8M | $1.6M | $4.2M | $6.2M | −$129,000 | $1.1M | −$617,000 | $160,000 | $3.3M | $7.0M |
| Key figures | ||||||||||||
| Total debt | — | $637,000 | $776,000 | $970,000 | $1.0M | $1.1M | $1.7M | $1.3M | $2.0M | $2.4M | $2.6M | $3.0M |
| Net cash (debt) | — | $17.8M | $7.2M | $1.3M | $4.4M | $7.5M | −$1.2M | −$486,000 | −$1.3M | −$599,999 | $311,000 | $473,000 |
| Working capital | $7.8M | $15.3M | $7.3M | $1.4M | $4.0M | $6.0M | −$908,000 | $295,000 | −$1.4M | −$333,000 | $2.9M | $3.6M |
| Tangible book value | $8.0M | −$21.3M | −$22.8M | $1.6M | $4.2M | $6.2M | −$129,000 | $1.1M | −$617,000 | $160,000 | $3.3M | $4.5M |
| Book value per share | $4.10 | $0.84 | — | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 31.0M | 165.7M | — | — | — | — | — | — | — | — | — | — |
| Current ratio | 29.98 | 5.29 | 7.39 | 1.98 | 2.85 | 2.95 | 0.68 | 1.15 | 0.62 | 0.92 | 1.67 | 1.80 |
| Quick ratio | 25.81 | 5.15 | 6.97 | 1.85 | 2.56 | 2.88 | 0.29 | 0.75 | 0.36 | 0.65 | 0.84 | 0.96 |
| Debt / equity | — | 0.00 | — | 0.59 | 0.25 | 0.18 | — | 1.18 | — | 15.14 | 0.79 | 0.43 |
| Equity / assets | 99.8% | 77.2% | −214.4% | 46.9% | 61.4% | 62.5% | −0.3% | 27.7% | −15.7% | 3.0% | 6.6% | 54.8% |
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.
SDEV financial position
At the end of fiscal 2025 (December 31, 2025), Stablecoin Development had total assets of $10.6 million (down 76.8% from a year earlier), total liabilities of $33.5 million and shareholders' equity of -$22.8 million. It held $8.0 million in cash and short-term investments against $0.8 million of debt, a net cash position of $7.2 million. Its current ratio was 7.39. In the latest quarter (ended June 30, 2026) total assets were $127.5 million and equity $127.2 million.
Related: SDEV income statement, SDEV cash flow statement, SDEV key metrics. See the SDEV stock overview for the latest quote and news.
SDEV balance sheet FAQ
What are Stablecoin Development's total assets?
Stablecoin Development reported total assets of $10.6 million at the end of fiscal 2025 (December 31, 2025), compared with $45.9 million a year earlier.
How much debt does Stablecoin Development have?
Stablecoin Development had $0.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Stablecoin Development have?
Stablecoin Development held $8.0 million in cash and short-term investments at the end of fiscal 2025; with $0.8 million of debt that is net cash of $7.2 million.
What is Stablecoin Development's book value?
Stablecoin Development's shareholders' equity (book value) was -$22.8 million at the end of fiscal 2025.
What is Stablecoin Development's current ratio?
Stablecoin Development had current assets of $8.4 million and current liabilities of $1.1 million, a current ratio of 7.39 (it can cover its short-term obligations).