TROOPS, Inc. (TROO) Balance Sheet
TROO balance sheet, 2025
December 31, 2025 · U.S. dollars$69.1M assets = $20.0M liabilities + $49.0M equity
Both columns are drawn to the same scale: what TROO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TROO financial health
Descriptive bands, not a rating. Fiscal 2025.
TROO balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $100.3M2016 | $69.1M2025 | −4.1%/yr | |
| Total liabilities | $13.6M2016 | $20.0M2025 | +4.4%/yr | |
| Shareholders’ equity | $86.7M2016 | $49.0M2025 | −6.1%/yr | |
| Cash & short-term investments | $29,0002016 | $4.0M2025 | +73.0%/yr | |
| Total debt | $342,0002016 | $4,0002025 | −39.0%/yr | |
| Net cash (debt) | −$313,0002016 | $4.0M2025 | +$4.3M | |
| Working capital | −$663,0002016 | −$1.3M2025 | −$662,000 | |
| Book value per share | $3.942018 | $0.412025 | −27.7%/yr | |
| Current ratio | 0.912016 | 0.922025 | +0.01 | |
| Debt / equity | 0.002016 | 0.002025 | 0.00 | |
| Shares outstanding | 35.1M2018 | 120.7M2025 | +19.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TROO assets
TROO liabilities and equity
TROO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TROO balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $4.0M | $5.2M | $3.1M | $3.0M | $3.5M | $3.0M | $5.2M | $14.3M | $4.3M | $29,000 |
| Cash & equivalents | $4.0M | $5.2M | $3.1M | $3.0M | $3.5M | $3.0M | $5.2M | $14.3M | $4.3M | $29,000 |
| Receivables | $7.3M | $14.1M | $7.3M | $8.5M | $2.6M | $22.5M | $35.2M | $31.1M | $676,000 | $119,000 |
| Inventory | $0 | $0 | −$7.3M | $0 | $0 | $0 | $779,000 | $0 | $0 | $0 |
| Other current assets | $4.0M | $246,000 | $7.6M | $128,000 | $175,000 | $125,000 | $6.0M | $31.1M | $769,000 | $6.5M |
| Total current assets | $15.3M | $19.6M | $10.7M | $11.5M | $6.2M | $25.6M | $47.2M | $76.5M | $5.7M | $6.6M |
| Property, plant & equipment (net) | $29.4M | $44.9M | $46.8M | $48.7M | $50.6M | $52.3M | $58.0M | $58.3M | $511,000 | $5,000 |
| Goodwill & intangible assets | $13.6M | $13.7M | $414,000 | $427,000 | $446,000 | $5.6M | $6.3M | $43.4M | $92.2M | $61.8M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $10.8M | $977,000 | $12.5M | $9.0M | $13.1M | $6.6M | $29.1M | $12.6M | $0 | $31.9M |
| Total assets | $69.1M | $79.2M | $70.3M | $69.7M | $70.3M | $90.1M | $140.6M | $190.8M | $98.5M | $100.3M |
| Liabilities | ||||||||||
| Accounts payable | $1.2M | $1.6M | $1.9M | $8.5M | $2.6M | $0 | $1,000 | $2.0M | $235,000 | $222,000 |
| Short-term debt | $4,000 | $22,000 | $4,000 | $116,000 | $77,000 | $5.6M | $222,000 | $3.8M | $2.5M | $342,000 |
| Deferred revenue | $522,000 | $446,000 | $5,000 | $88,000 | — | — | $1,000 | $1,000 | $113,000 | — |
| Total current liabilities | $16.6M | $5.9M | $4.7M | $2.2M | $2.2M | $7.4M | $6.5M | $10.0M | $3.4M | $7.3M |
| Long-term debt | $0 | $0 | $0 | $0 | $87,000 | $6.2M | $6.4M | $360,000 | $0 | $0 |
| Lease obligations | $4,000 | $26,000 | $4,000 | $26,000 | $39,000 | $199,000 | $97,000 | — | — | — |
| Other long-term liabilities | $3.4M | $5.0M | $5.0M | $5.3M | $5.5M | $5.9M | $7.1M | $12.3M | $11.3M | $6.3M |
| Total liabilities | $20.0M | $10.9M | $9.8M | $7.5M | $7.8M | $19.5M | $20.0M | $22.7M | $14.6M | $13.6M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $488,000 | $450,000 | $406,000 | $406,000 | $406,000 | $405,000 | $320,000 | $302,000 | $65,000 | $38,000 |
| Retained earnings (deficit) | −$116.9M | −$89.0M | −$75.6M | −$73.9M | −$73.5M | −$65.1M | $2.3M | $21.1M | $40.9M | $52.1M |
| Accumulated other comprehensive income | −$10,000 | −$5,000 | $3,000 | $3,000 | $8,000 | −$5,000 | −$10,000 | −$9,000 | −$7.3M | −$7.7M |
| Total shareholders' equity | $49.0M | $68.2M | $60.6M | $62.2M | $62.5M | $70.6M | $120.4M | $138.1M | $83.8M | $86.7M |
| Key figures | ||||||||||
| Total debt | $4,000 | $26,000 | $4,000 | $120,000 | $164,000 | $11.8M | $11.0M | $4.1M | $2.5M | $342,000 |
| Net cash (debt) | $4.0M | $5.1M | $3.1M | $2.8M | $3.3M | −$8.8M | −$5.8M | $10.2M | $1.7M | −$313,000 |
| Working capital | −$1.3M | $13.6M | $5.9M | $9.4M | $4.0M | $18.2M | $40.7M | $66.5M | $2.3M | −$663,000 |
| Tangible book value | $35.4M | $54.5M | $60.2M | $61.8M | $62.1M | $65.1M | $114.1M | $94.7M | −$8.4M | $24.9M |
| Book value per share | $0.41 | $0.67 | $0.60 | $0.61 | $0.62 | $0.72 | $1.52 | $3.94 | — | — |
| Shares outstanding | 120.7M | 102.2M | 101.6M | 101.6M | 101.6M | 98.1M | 79.2M | 35.1M | — | — |
| Current ratio | 0.92 | 3.30 | 2.26 | 5.28 | 2.83 | 3.44 | 7.27 | 7.63 | 1.69 | 0.91 |
| Quick ratio | 0.68 | 3.26 | 2.20 | 5.22 | 2.75 | 3.43 | 6.22 | 4.53 | 1.46 | 0.02 |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.17 | 0.09 | 0.03 | 0.03 | 0.00 |
| Equity / assets | 71.0% | 86.2% | 86.1% | 89.3% | 88.9% | 78.4% | 85.7% | 72.3% | 85.1% | 86.4% |
| Mar '26 | Dec '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $4.0M | $4.0M | $5.2M | $5.2M | $5.2M | $5.2M | $1.5M | $1.5M | $3.1M | $3.1M | $3.2M | $3.2M |
| Cash & equivalents | $4.0M | $4.0M | $5.2M | $5.2M | $5.2M | $5.2M | $1.5M | $1.5M | $3.1M | $3.1M | $3.2M | $3.2M |
| Receivables | $7.3M | $456,000 | $17.0M | $14.1M | $14.1M | $1.1M | $648,000 | $648,000 | $7.3M | $2,000 | $7.8M | $8.5M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$15,000 | $0 | $0 | −$8.1M | $0 |
| Other current assets | $4.0M | $10.8M | $542,000 | $246,000 | $246,000 | $13.2M | $11.2M | $11.2M | $256,000 | $7.6M | $8.4M | $0 |
| Total current assets | $15.3M | $15.3M | $22.8M | $19.6M | $19.6M | $19.6M | $13.4M | $13.4M | $10.7M | $10.7M | $11.2M | $11.2M |
| Property, plant & equipment (net) | $29.4M | $29.4M | $43.9M | $44.9M | $44.9M | $44.9M | $45.8M | $45.8M | $46.8M | $46.8M | $47.8M | $47.8M |
| Goodwill & intangible assets | $13.6M | $13.6M | $13.7M | $13.7M | $13.7M | $13.7M | $13.8M | $13.8M | $414,000 | $414,000 | $416,000 | $416,000 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $10.8M | $10.8M | $8.0M | $977,000 | $977,000 | $977,000 | $10.6M | $10.6M | $12.5M | $12.5M | $11.1M | $11.1M |
| Total assets | $69.1M | $69.1M | $88.4M | $79.2M | $79.2M | $79.2M | $83.6M | $83.6M | $70.3M | $70.3M | $70.6M | $70.6M |
| Liabilities | ||||||||||||
| Accounts payable | $1.2M | $1.2M | $1.5M | $1.6M | $1.6M | $1.6M | $1.2M | $1.2M | $0 | — | $1,000 | $1,000 |
| Short-term debt | $4,000 | — | $15,000 | $22,000 | $22,000 | $1.6M | $2.3M | $2.3M | $1.9M | $1.9M | $1.4M | $1.4M |
| Deferred revenue | $522,000 | — | $87,000 | $446,000 | $446,000 | — | $30,000 | $5,000 | $5,000 | — | — | $88,000 |
| Total current liabilities | $16.6M | $16.6M | $3.6M | $5.9M | $5.9M | $5.9M | $5.8M | $5.8M | $4.7M | $4.7M | $4.2M | $4.2M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $13.4M | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | $4,000 | — | — | $26,000 | — | $37,000 | — | $4,000 | — | $15,000 | — |
| Other long-term liabilities | $3.4M | $3.4M | $4.9M | $5.0M | $5.0M | $5.0M | $5.2M | $18.6M | $5.0M | $0 | $5.2M | $5.3M |
| Total liabilities | $20.0M | $20.0M | $8.5M | $10.9M | $10.9M | $10.9M | $24.4M | $24.4M | $9.8M | $4.7M | $9.4M | $4.2M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $488,000 | — | $506,000 | $450,000 | $450,000 | $450,000 | $406,000 | $406,000 | $406,000 | $406,000 | $406,000 | $406,000 |
| Retained earnings (deficit) | −$116.9M | −$116.9M | −$90.0M | −$89.0M | −$89.0M | −$89.0M | −$77.0M | −$77.0M | −$75.6M | −$75.6M | −$74.9M | −$74.9M |
| Accumulated other comprehensive income | −$10,000 | — | −$8,000 | −$5,000 | −$5,000 | −$5,000 | −$1,000 | −$1,000 | $3,000 | $3,000 | $1,000 | $1,000 |
| Total shareholders' equity | $49.0M | $49.0M | $79.9M | $68.2M | $68.2M | $68.2M | $59.2M | $59.2M | $60.6M | $60.6M | $61.2M | $61.2M |
| Key figures | ||||||||||||
| Total debt | $4,000 | — | $15,000 | $26,000 | $26,000 | $1.6M | $15.7M | $15.7M | $4,000 | $1.9M | $1.4M | $1.4M |
| Net cash (debt) | $4.0M | — | $5.2M | $5.1M | $5.1M | $3.6M | −$14.2M | −$14.2M | $3.1M | $1.2M | $1.8M | $1.8M |
| Working capital | −$1.3M | −$1.3M | $19.2M | $13.6M | $13.6M | $13.6M | $7.6M | $7.6M | $5.9M | $5.9M | $7.0M | $7.0M |
| Tangible book value | $35.4M | $35.4M | $66.3M | $54.5M | $54.5M | $54.5M | $45.4M | $45.4M | $60.2M | $60.2M | $60.7M | $60.7M |
| Book value per share | $0.40 | $0.40 | $0.69 | $0.66 | $0.67 | $0.66 | $0.58 | $0.58 | $0.60 | $0.60 | $0.60 | $0.60 |
| Shares outstanding | 122.2M | 122.2M | 115.1M | 102.9M | 102.2M | 102.9M | 101.6M | 101.6M | 101.6M | 101.6M | 101.6M | 101.6M |
| Current ratio | 0.92 | 0.92 | 6.36 | 3.30 | 3.30 | 3.30 | 2.30 | 2.30 | 2.26 | 2.26 | 2.65 | 2.65 |
| Quick ratio | 0.68 | 0.27 | 6.21 | 3.26 | 3.26 | 1.07 | 0.37 | 0.37 | 2.20 | 0.66 | 2.59 | 2.75 |
| Debt / equity | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.02 | 0.27 | 0.27 | 0.00 | 0.03 | 0.02 | 0.02 |
| Equity / assets | 71.0% | 71.0% | 90.4% | 86.2% | 86.2% | 86.2% | 70.8% | 70.8% | 86.1% | 86.1% | 86.7% | 86.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 30, 2026); data from EODHD.
TROO financial position
At the end of fiscal 2025 (December 31, 2025), TROOPS had total assets of $69.1 million (down 12.8% from a year earlier), total liabilities of $20.0 million and shareholders' equity of $49.0 million. It held $4.0 million in cash and short-term investments against $0.0 million of debt, a net cash position of $4.0 million. Its current ratio was 0.92. In the latest quarter (ended March 31, 2026) total assets were $69.1 million and equity $49.0 million.
Related: TROO income statement, TROO cash flow statement, TROO key metrics. See the TROO stock overview for the latest quote and news.
TROO balance sheet FAQ
What are TROOPS's total assets?
TROOPS reported total assets of $69.1 million at the end of fiscal 2025 (December 31, 2025), compared with $79.2 million a year earlier.
How much debt does TROOPS have?
TROOPS had $0.0 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.00.
How much cash does TROOPS have?
TROOPS held $4.0 million in cash and short-term investments at the end of fiscal 2025; with $0.0 million of debt that is net cash of $4.0 million.
What is TROOPS's book value?
TROOPS's shareholders' equity (book value) was $49.0 million at the end of fiscal 2025, or $0.41 per share.
What is TROOPS's current ratio?
TROOPS had current assets of $15.3 million and current liabilities of $16.6 million, a current ratio of 0.92 (current liabilities exceed current assets).
How much goodwill does TROOPS have?
TROOPS carried $13.6 million of goodwill and intangible assets, 19.7% of total assets, at the end of fiscal 2025.