VisionWave Holdings, Inc. (VWAV) Balance Sheet
VWAV balance sheet, FY2026
March 31, 2026 · U.S. dollars$2.7M assets = $14.5M liabilities + −$11.8M equity
Liabilities exceed assets: shareholders’ equity is negative (−$11.8M).
Both columns are drawn to the same scale: what VWAV owns equals what it owes plus shareholders’ equity. Hover a block for its value.
VWAV financial health
Descriptive bands, not a rating. Fiscal FY2026.
VWAV balance sheet trends, FY2022–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $70.3MFY2022 | $2.7MFY2026 | −55.8%/yr | |
| Total liabilities | $657,727FY2022 | $14.5MFY2026 | +116.6%/yr | |
| Shareholders’ equity | $69.6MFY2022 | −$11.8MFY2026 | — | |
| Cash & short-term investments | $429,444FY2022 | $2.3MFY2026 | +51.9%/yr | |
| Total debt | $913,960FY2023 | $4.9MFY2026 | +74.6%/yr | |
| Net cash (debt) | −$894,703FY2023 | −$2.6MFY2026 | −$1.7M | |
| Working capital | $363,213FY2022 | −$11.8MFY2026 | −$12.2M | |
| Book value per share | $7.39FY2022 | −$0.52FY2025 | — | |
| Current ratio | 2.53FY2022 | 0.19FY2026 | −2.34 | |
| Debt / equity | 0.01FY2023 | 0.03FY2024 | +0.02 | |
| Shares outstanding | 9.4MFY2022 | 3.6MFY2025 | −27.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
VWAV assets
VWAV liabilities and equity
VWAV debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
VWAV balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $2.3M | $9,754 | $232,278 | $19,257 | $429,444 |
| Cash & equivalents | $2.3M | $9,754 | $232,278 | $19,257 | $429,444 |
| Short-term investments | — | $2,050 | — | — | — |
| Receivables | $120,000 | $120,000 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $287,799 | $0 | $5,251 | $26,296 | $171,616 |
| Total current assets | $2.7M | $13,684 | $237,529 | $45,553 | $601,060 |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $281 | $0 | $0 | $0 |
| Other non-current assets | $281 | $3.7M | $32.1M | $71.4M | $69.7M |
| Total assets | $2.7M | $3.8M | $32.4M | $71.5M | $70.3M |
| Liabilities | |||||
| Accounts payable | — | $60,000 | — | — | — |
| Short-term debt | $4.9M | $1.0M | $974,015 | $913,960 | — |
| Deferred revenue | $108,006 | $108,006 | — | — | — |
| Total current liabilities | $14.5M | $5.4M | $3.9M | $1.4M | $237,847 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $237,180 | $229,059 | $304,176 | $419,879 |
| Total liabilities | $14.5M | $5.7M | $4.2M | $1.7M | $657,727 |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $145,211 | $4.1M | $31.9M | $71.0M | $58.1M |
| Retained earnings (deficit) | −$15.1M | −$6.0M | −$3.7M | −$1.3M | −$277,203 |
| Total shareholders' equity | −$11.8M | −$1.9M | $28.2M | $69.7M | $69.6M |
| Key figures | |||||
| Total debt | $4.9M | $1.0M | $974,015 | $913,960 | — |
| Net cash (debt) | −$2.6M | −$994,241 | −$741,737 | −$894,703 | — |
| Working capital | −$11.8M | −$5.4M | −$3.7M | −$1.4M | $363,213 |
| Tangible book value | −$11.8M | −$1.9M | $28.2M | $69.7M | $69.6M |
| Book value per share | — | −$0.52 | $4.55 | $7.40 | $7.39 |
| Shares outstanding | — | 3.6M | 6.2M | 9.4M | 9.4M |
| Current ratio | 0.19 | 0.00 | 0.06 | 0.03 | 2.53 |
| Quick ratio | 0.17 | 0.02 | 0.06 | 0.01 | 1.81 |
| Debt / equity | — | — | 0.03 | 0.01 | — |
| Equity / assets | −438.0% | −50.5% | 87.1% | 97.6% | 99.1% |
| 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 | $4.9M | $14.3M | $2.3M | $2.3M | $885 | $19,189 | $9,754 | $271,833 | $29,694 | $362,181 | $232,278 | $39,589 |
| Cash & equivalents | $4.9M | $14.3M | $2.3M | $2.3M | $885 | $19,189 | $9,754 | $271,833 | $29,694 | $362,181 | $232,278 | $39,589 |
| Short-term investments | — | — | — | — | — | — | $2,050 | — | — | — | — | — |
| Receivables | $461,533 | $151,430 | $120,000 | $120,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $981,290 | $708,792 | $287,799 | $287,799 | $3,930 | $3,930 | $3,930 | $4,107 | $5,290 | $4,106 | $5,251 | $5,933 |
| Total current assets | $6.3M | $15.1M | $2.7M | $2.7M | $4,815 | $23,119 | $13,684 | $275,940 | $34,984 | $366,287 | $237,529 | $45,522 |
| Property, plant & equipment (net) | $170,160 | $60,121 | $56,786 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $159.9M | $113.9M | $13.9M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $7.5M | $2.8M | $281 | $0 | $0 | $0 | $10,000 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $6.0M | $3.8M | $0 | $281 | $1.2M | $1.1M | $3.7M | $3.7M | $17.4M | $17.1M | $32.1M | $31.9M |
| Total assets | $179.8M | $135.7M | $2.7M | $2.7M | $1.2M | $1.2M | $3.8M | $3.9M | $17.4M | $17.5M | $32.4M | $32.0M |
| Liabilities | ||||||||||||
| Accounts payable | — | — | $1.8M | — | $1.3M | — | $60,000 | — | — | — | — | — |
| Short-term debt | $5.9M | $5.6M | $4.9M | $4.9M | $1.8M | $1.0M | $1.0M | $1.0M | $1.8M | $1.0M | $974,015 | $1.6M |
| Deferred revenue | $108,006 | $108,006 | $108,006 | $108,006 | — | — | $108,006 | — | — | — | — | — |
| Total current liabilities | $39.6M | $37.1M | $14.5M | $14.5M | $6.3M | $5.9M | $5.4M | $5.1M | $4.5M | $4.4M | $3.9M | $3.6M |
| Long-term debt | $185,173 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $0 | $0 | $231,090 | $1.2M | $231,090 | $237,180 | $233,119 | $233,120 | $237,179 | $229,059 | $237,179 |
| Total liabilities | $39.8M | $37.1M | $14.5M | $14.5M | $7.5M | $6.1M | $5.7M | $5.3M | $4.7M | $4.6M | $4.2M | $3.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $273,320 | $203,470 | $145,211 | $145,211 | $647,913 | $1.6M | $4.1M | $4.1M | $17.5M | $17.2M | $31.9M | $31.3M |
| Retained earnings (deficit) | −$60.8M | −$35.0M | −$15.1M | −$15.1M | −$7.0M | −$6.5M | −$6.0M | −$5.4M | −$4.7M | −$4.3M | −$3.7M | −$3.2M |
| Accumulated other comprehensive income | $11,982 | $67.0M | — | — | — | — | — | — | — | — | — | — |
| Minority interest | $10.4M | — | — | — | — | — | — | — | — | — | — | — |
| Total shareholders' equity | $129.7M | $98.6M | −$11.8M | −$11.8M | −$6.3M | −$4.9M | −$1.9M | −$1.4M | $12.7M | $12.9M | $28.2M | $28.1M |
| Key figures | ||||||||||||
| Total debt | $5.9M | $5.6M | $4.9M | $4.9M | $1.8M | $1.0M | $1.0M | $1.0M | $1.8M | $1.0M | $974,015 | $1.6M |
| Net cash (debt) | −$1.1M | $8.6M | −$2.6M | −$2.6M | −$1.8M | −$984,806 | −$994,241 | −$732,162 | −$1.8M | −$641,814 | −$741,737 | −$1.5M |
| Working capital | −$33.3M | −$21.9M | −$11.8M | −$11.8M | −$6.3M | −$5.8M | −$5.4M | −$4.8M | −$4.4M | −$4.0M | −$3.7M | −$3.6M |
| Tangible book value | −$30.2M | −$15.3M | −$25.7M | −$11.8M | −$6.3M | −$4.9M | −$1.9M | −$1.4M | $12.7M | $12.9M | $28.2M | $28.1M |
| Book value per share | — | — | — | — | — | −$1.76 | −$0.56 | −$0.36 | $3.12 | $2.39 | $5.16 | $5.14 |
| Shares outstanding | — | — | — | — | — | 2.8M | 3.4M | 3.8M | 4.1M | 5.4M | 5.5M | 5.5M |
| Current ratio | 0.16 | 0.41 | 0.19 | 0.19 | 0.00 | 0.00 | 0.00 | 0.05 | 0.01 | 0.08 | 0.06 | 0.01 |
| Quick ratio | 0.13 | 0.39 | 0.17 | 0.17 | 0.00 | 0.00 | 0.00 | 0.05 | 0.01 | 0.08 | 0.06 | 0.01 |
| Debt / equity | 0.05 | 0.06 | — | — | — | — | — | — | 0.14 | 0.08 | 0.03 | 0.06 |
| Equity / assets | 72.1% | 72.7% | −438.0% | −438.0% | −540.5% | −420.7% | −50.5% | −34.6% | 73.1% | 73.7% | 87.1% | 87.9% |
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.
VWAV financial position
At the end of fiscal 2026 (March 31, 2026), VisionWave had total assets of $2.7 million (down 28.4% from a year earlier), total liabilities of $14.5 million and shareholders' equity of -$11.8 million. It held $2.3 million in cash and short-term investments against $4.9 million of debt, net debt of $2.6 million. Its current ratio was 0.19. In the latest quarter (ended June 30, 2026) total assets were $179.8 million and equity $129.7 million.
Related: VWAV income statement, VWAV cash flow statement, VWAV key metrics. See the VWAV stock overview for the latest quote and news.
VWAV balance sheet FAQ
What are VisionWave's total assets?
VisionWave reported total assets of $2.7 million at the end of fiscal 2026 (March 31, 2026), compared with $3.8 million a year earlier.
How much debt does VisionWave have?
VisionWave had $4.9 million of total debt at the end of fiscal 2026, including short-term borrowings. Its debt-to-equity ratio was —.
How much cash does VisionWave have?
VisionWave held $2.3 million in cash and short-term investments at the end of fiscal 2026; with $4.9 million of debt that is net debt of $2.6 million.
What is VisionWave's book value?
VisionWave's shareholders' equity (book value) was -$11.8 million at the end of fiscal 2026.
What is VisionWave's current ratio?
VisionWave had current assets of $2.7 million and current liabilities of $14.5 million, a current ratio of 0.19 (current liabilities exceed current assets).