Safe Pro Group Inc. (SPAI) Balance Sheet
SPAI balance sheet, 2025
December 31, 2025 · U.S. dollars$19.1M assets = $1.4M liabilities + $17.7M equity
Both columns are drawn to the same scale: what SPAI owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SPAI financial health
Descriptive bands, not a rating. Fiscal 2025.
SPAI balance sheet trends, 2022–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $4.2M2022 | $19.1M2025 | +65.2%/yr | |
| Total liabilities | $1.7M2022 | $1.4M2025 | −5.5%/yr | |
| Shareholders’ equity | $2.6M2022 | $17.7M2025 | +90.1%/yr | |
| Cash & short-term investments | $1.8M2022 | $16.8M2025 | +112.4%/yr | |
| Total debt | $368,1722022 | $202,1072025 | −18.1%/yr | |
| Net cash (debt) | $1.4M2022 | $16.6M2025 | +$15.2M | |
| Working capital | $1.0M2022 | $16.7M2025 | +$15.7M | |
| Book value per share | $0.342022 | $1.042025 | +44.4%/yr | |
| Debt / equity | 0.142022 | 0.012025 | −0.13 | |
| Shares outstanding | 7.5M2022 | 17.1M2025 | +31.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SPAI assets
SPAI liabilities and equity
SPAI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SPAI balance sheet
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Assets | ||||
| Cash & short-term investments | $16.8M | $2.0M | $703,368 | $1.8M |
| Cash & equivalents | $16.8M | $2.0M | $703,368 | $1.8M |
| Receivables | $100,028 | $123,686 | $163,329 | $102,177 |
| Inventory | $615,024 | $342,061 | $359,159 | $364,242 |
| Other current assets | $420,306 | $313,663 | $48,052 | $136,104 |
| Total current assets | $17.9M | $2.8M | $1.3M | $2.4M |
| Property, plant & equipment (net) | $342,097 | $416,502 | $474,332 | $566,651 |
| Goodwill & intangible assets | $834,461 | $1.8M | $1.7M | $1.3M |
| Long-term investments | $0 | $0 | $0 | $0 |
| Other non-current assets | $9,800 | $9,800 | $9,800 | $9,800 |
| Total assets | $19.1M | $4.9M | $3.4M | $4.2M |
| Liabilities | ||||
| Accounts payable | $461,306 | $119,812 | $169,081 | $51,043 |
| Short-term debt | $55,160 | $63,115 | $412,318 | $62,538 |
| Deferred revenue | $18,897 | $83,768 | $84,670 | $43,978 |
| Total current liabilities | $1.3M | $893,926 | $1.4M | $1.4M |
| Long-term debt | $146,000 | $146,000 | $146,000 | $146,000 |
| Lease obligations | $56,107 | $98,707 | $159,634 | $222,172 |
| Other long-term liabilities | $947 | $35,592 | $91,112 | $159,634 |
| Total liabilities | $1.4M | $1.1M | $1.7M | $1.7M |
| Shareholders' equity | ||||
| Common stock & paid-in capital | $2,090 | $1,453 | $873 | $751 |
| Retained earnings (deficit) | −$28.6M | −$14.3M | −$6.8M | −$507,641 |
| Accumulated other comprehensive income | — | $0 | — | — |
| Total shareholders' equity | $17.7M | $3.9M | $1.8M | $2.6M |
| Key figures | ||||
| Total debt | $202,107 | $244,707 | $649,430 | $368,172 |
| Net cash (debt) | $16.6M | $1.7M | $53,938 | $1.4M |
| Working capital | $16.7M | $1.9M | −$142,821 | $1.0M |
| Tangible book value | $16.9M | $2.1M | $104,199 | $1.3M |
| Book value per share | $1.04 | $0.27 | $0.13 | $0.34 |
| Shares outstanding | 17.1M | 14.5M | 13.7M | 7.5M |
| Current ratio | 14.33 | 3.08 | 0.90 | 1.74 |
| Quick ratio | 13.51 | 2.34 | 0.61 | 1.37 |
| Debt / equity | 0.01 | 0.06 | 0.37 | 0.14 |
| Equity / assets | 92.7% | 78.3% | 51.8% | 60.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & short-term investments | $10.2M | $14.8M | $16.8M | $7.6M | $805,596 | $912,219 | $2.0M | $2.3M | $175,953 | $399,607 | $703,368 |
| Cash & equivalents | $10.2M | $14.8M | $16.8M | $7.6M | $805,596 | $912,219 | $2.0M | $2.3M | $175,953 | $399,607 | $703,368 |
| Receivables | $1.3M | $61,723 | $100,028 | $40,394 | $38,559 | $15,785 | $123,686 | $221,470 | $41,375 | $72,838 | $163,329 |
| Inventory | $757,452 | $453,815 | $615,024 | $493,547 | $306,288 | $313,717 | $342,061 | $375,274 | $364,572 | $402,639 | $359,159 |
| Other current assets | $140,168 | $249,208 | $420,306 | $291,340 | $181,395 | $243,932 | $313,663 | $418,176 | $194,502 | $211,165 | $48,052 |
| Total current assets | $12.4M | $15.6M | $17.9M | $8.4M | $1.3M | $1.5M | $2.8M | $3.3M | $776,402 | $1.1M | $1.3M |
| Property, plant & equipment (net) | $359,673 | $347,325 | $342,097 | $359,602 | $393,665 | $396,854 | $416,502 | $444,094 | $477,845 | $442,306 | $474,332 |
| Goodwill & intangible assets | $781,548 | $812,669 | $834,461 | $903,695 | $1.8M | $1.8M | $1.8M | $1.7M | $1.8M | $1.6M | $1.7M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $9,800 | $9,800 | $9,800 | $9,800 | $9,800 | $9,800 | $9,800 | $9,800 | $9,800 | $9,800 | $9,800 |
| Total assets | $13.5M | $16.7M | $19.1M | $9.7M | $3.5M | $3.7M | $4.9M | $5.5M | $3.0M | $3.2M | $3.4M |
| Liabilities | |||||||||||
| Accounts payable | $529,964 | $463,647 | $461,306 | $261,113 | $168,693 | $226,059 | $119,812 | $233,742 | $227,287 | $154,998 | $169,081 |
| Short-term debt | $449,013 | $36,554 | $55,160 | $73,417 | $77,561 | $54,599 | $63,115 | $69,974 | $814,634 | $648,864 | $412,318 |
| Deferred revenue | — | $28,230 | $18,897 | $73,007 | $45,401 | $26,742 | $83,768 | $70,288 | $77,413 | $428,187 | $84,670 |
| Total current liabilities | $1.4M | $1.2M | $1.3M | $1.1M | $809,911 | $872,025 | $893,926 | $1.0M | $2.3M | $2.1M | $1.4M |
| Long-term debt | $146,000 | $146,000 | $146,000 | $146,000 | $146,000 | $146,000 | $146,000 | $146,000 | $146,000 | $146,000 | $146,000 |
| Lease obligations | $16,481 | $36,554 | $56,107 | $75,160 | $93,753 | $79,804 | $98,707 | $117,380 | $135,322 | $143,046 | $159,634 |
| Other long-term liabilities | $0 | $0 | $947 | $1,743 | $16,192 | $25,205 | $35,592 | $47,406 | $61,688 | $72,962 | $91,112 |
| Total liabilities | $1.6M | $1.3M | $1.4M | $1.3M | $972,103 | $1.0M | $1.1M | $1.2M | $2.5M | $2.4M | $1.7M |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | $2,100 | $2,089 | $2,090 | $1,885 | $1,537 | $1,517 | $1,453 | $1,368 | $911 | $878 | $873 |
| Retained earnings (deficit) | −$34.5M | −$31.4M | −$28.6M | −$25.1M | −$20.1M | −$18.2M | −$14.3M | −$12.9M | −$9.2M | −$8.0M | −$6.8M |
| Accumulated other comprehensive income | — | — | — | $0 | — | — | $0 | — | — | — | — |
| Total shareholders' equity | $12.0M | $15.4M | $17.7M | $8.4M | $2.6M | $2.6M | $3.9M | $4.2M | $531,379 | $807,300 | $1.8M |
| Key figures | |||||||||||
| Total debt | $595,013 | $182,554 | $202,107 | $221,160 | $239,753 | $225,804 | $244,707 | $263,380 | $1.0M | $867,826 | $649,430 |
| Net cash (debt) | $9.6M | $14.6M | $16.6M | $7.4M | $565,843 | $686,415 | $1.7M | $2.1M | −$846,370 | −$468,219 | $53,938 |
| Working capital | $11.0M | $14.4M | $16.7M | $7.3M | $521,927 | $613,628 | $1.9M | $2.3M | −$1.5M | −$1.1M | −$142,821 |
| Tangible book value | $11.2M | $14.6M | $16.9M | $7.5M | $763,200 | $849,077 | $2.1M | $2.6M | −$1.2M | −$819,625 | $104,199 |
| Book value per share | $0.58 | $0.75 | $1.04 | $0.49 | $0.17 | $0.18 | $0.27 | $0.39 | $0.04 | $0.06 | $0.13 |
| Shares outstanding | 20.5M | 20.6M | 17.1M | 17.1M | 15.2M | 14.7M | 14.5M | 10.8M | 13.7M | 13.7M | 13.7M |
| Current ratio | 8.76 | 13.28 | 14.33 | 7.60 | 1.64 | 1.70 | 3.08 | 3.19 | 0.34 | 0.51 | 0.90 |
| Quick ratio | 8.13 | 12.68 | 13.51 | 6.89 | 1.04 | 1.06 | 2.34 | 2.44 | 0.10 | 0.22 | 0.61 |
| Debt / equity | 0.05 | 0.01 | 0.01 | 0.03 | 0.09 | 0.09 | 0.06 | 0.06 | 1.92 | 1.07 | 0.37 |
| Equity / assets | 88.5% | 92.1% | 92.7% | 87.0% | 72.5% | 71.7% | 78.3% | 77.3% | 17.6% | 25.5% | 51.8% |
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.
SPAI financial position
At the end of fiscal 2025 (December 31, 2025), Safe Pro had total assets of $19.1 million (up 286.2% from a year earlier), total liabilities of $1.4 million and shareholders' equity of $17.7 million. It held $16.8 million in cash and short-term investments against $0.2 million of debt, a net cash position of $16.6 million. Its current ratio was 14.33. In the latest quarter (ended June 30, 2026) total assets were $13.5 million and equity $12.0 million.
Related: SPAI income statement, SPAI cash flow statement, SPAI key metrics. See the SPAI stock overview for the latest quote and news.
SPAI balance sheet FAQ
What are Safe Pro's total assets?
Safe Pro reported total assets of $19.1 million at the end of fiscal 2025 (December 31, 2025), compared with $4.9 million a year earlier.
How much debt does Safe Pro have?
Safe Pro had $0.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.
How much cash does Safe Pro have?
Safe Pro held $16.8 million in cash and short-term investments at the end of fiscal 2025; with $0.2 million of debt that is net cash of $16.6 million.
What is Safe Pro's book value?
Safe Pro's shareholders' equity (book value) was $17.7 million at the end of fiscal 2025, or $1.04 per share.
What is Safe Pro's current ratio?
Safe Pro had current assets of $17.9 million and current liabilities of $1.3 million, a current ratio of 14.33 (it can cover its short-term obligations).
How much goodwill does Safe Pro have?
Safe Pro carried $0.8 million of goodwill and intangible assets, 4.4% of total assets, at the end of fiscal 2025.