XORTX Therapeutics Inc. (XRTX) Balance Sheet

NASDAQ: XRTXAssets, liabilities, debt and equity over 4 years.

XRTX balance sheet, 2025

December 31, 2025 · U.S. dollars

$2.7M assets = $597,980 liabilities + $2.1M equity

Both columns are drawn to the same scale: what XRTX owns equals what it owes plus shareholders’ equity. Hover a block for its value.

XRTX financial health

Current ratio1.61

Comfortable · current assets cover current liabilities 1.61×

Debt / equity0.02

Low leverage · $0.02 of debt for each $1 of equity

Equity / assets77.7%

Equity-funded · of assets funded by shareholders

Cash / debt2,318.5%

Cash covers debt · cash & short-term investments vs total debt

Goodwill & intangibles6.9%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

XRTX balance sheet trends, 2015–2025

XORTX Therapeutics Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	$203,4352015	$2.7M2025	+136.1%/yr
Total liabilities	$6,1662015	$597,9802025	+359.4%/yr
Shareholders’ equity	$197,2692015	$2.1M2025	+119.3%/yr
Cash & short-term investments	$27,0132015	$862,9402025	+217.3%/yr
Total debt	$11,5102023	$37,2192025	+79.8%/yr
Net cash (debt)	$3.4M2023	$825,7212025	−$2.6M
Working capital	$22,2622015	$367,5542025	+$345,292
Book value per share	$11.712023	$2.202025	−56.7%/yr
Current ratio	4.612015	1.612025	−3.00
Debt / equity	0.002023	0.022025	+0.02
Shares outstanding	396K2023	947K2025	+54.6%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

XRTX assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

XRTX liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

XRTX debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

XRTX balance sheet

XORTX Therapeutics Inc. annual balance sheet
	2025	2024	2023	2015
Assets
Cash & short-term investments	$862,940	$2.5M	$3.4M	$27,013
Cash & equivalents	$862,940	$2.5M	$3.4M	$27,013
Short-term investments	—	—	−$24,797	—
Receivables	$80,025	$17,637	$60,711	$1,415
Inventory	$0	$0	$247,944	$0
Other current assets	$22,569	$185,412	$312,463	$0
Total current assets	$965,534	$2.7M	$4.1M	$28,428
Property, plant & equipment (net)	$36,996	$34,721	$23,927	$175,007
Goodwill & intangible assets	$185,029	$183,108	$175,254	$0
Long-term investments	$0	$0	$0	$0
Other non-current assets	$1.5M	$1.2M	$1.2M	$0
Total assets	$2.7M	$4.1M	$5.5M	$203,435
Liabilities
Accounts payable	$395,539	$84,020	$195,814	$6,166
Short-term debt	$37,219	$38,785	$11,510	—
Total current liabilities	$597,980	$757,990	$825,938	$6,166
Long-term debt	$0	$0	$0	$0
Lease obligations	$37,287	$38,785	$11,510	—
Other long-term liabilities	$0	$0	$531,000	$0
Total liabilities	$597,980	$757,990	$825,938	$6,166
Shareholders' equity
Common stock & paid-in capital	$20.1M	$18.5M	$17.1M	—
Retained earnings (deficit)	−$23.8M	−$21.2M	−$17.9M	−$456,290
Accumulated other comprehensive income	$5.7M	$6.0M	−$52,605	—
Total shareholders' equity	$2.1M	$3.3M	$4.6M	$197,269
Key figures
Total debt	$37,219	$38,785	$11,510	—
Net cash (debt)	$825,721	$2.4M	$3.4M	—
Working capital	$367,554	$1.9M	$3.2M	$22,262
Tangible book value	$1.9M	$3.2M	$4.5M	$197,269
Book value per share	$2.20	$5.80	$11.71	—
Shares outstanding	947K	576K	396K	—
Current ratio	1.61	3.53	4.93	4.61
Quick ratio	1.58	3.29	4.25	4.61
Debt / equity	0.02	0.01	0.00	—
Equity / assets	77.7%	81.5%	84.9%	97.0%

XORTX Therapeutics Inc. quarterly balance sheet
	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	$992,852	$251,098	$864,514	$1.2M	$1.1M	$1.9M	$2.5M	$2.3M	$3.1M	$3.8M	$3.4M	$5.1M
Cash & equivalents	$992,852	$251,098	$864,514	$1.2M	$1.1M	$1.9M	$2.5M	$2.3M	$3.1M	$3.8M	$3.4M	$5.1M
Short-term investments	—	—	—	—	—	—	—	—	−$452	—	—	—
Receivables	$87,984	$64,845	$80,172	$22,092	$10,860	$17,252	$17,637	$13,111	$22,807	$30,883	$60,711	$68,241
Inventory	$0	$0	$0	$0	$0	$0	$0	$0	$1	−$10,909	$247,944	−$31,302
Other current assets	$1.4M	$56,323	$316,412	$141,472	$190,183	$190,949	$185,412	$96,536	$255,393	$807,040	$312,463	$120,229
Total current assets	$2.4M	$372,266	$1.3M	$1.4M	$1.3M	$2.1M	$2.7M	$2.4M	$3.4M	$4.7M	$4.1M	$5.2M
Property, plant & equipment (net)	$0	$14,728	$37,065	$59,602	$82,490	$15,257	$34,721	$54,234	$73,794	$30,007	$31,702	$42,225
Goodwill & intangible assets	$2.5M	$186,305	$185,367	$193,997	$195,008	$179,972	$183,108	$185,703	$168,911	$165,991	$175,254	$171,521
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$1.2M	$1.6M	$1.2M	$1.2M	$1.2M	$1.2M	$1.2M	$1.2M	$1.2M	$1.2M	$1.2M	$1.2M
Total assets	$6.2M	$2.2M	$2.7M	$2.8M	$2.7M	$3.5M	$4.1M	$3.9M	$4.8M	$6.1M	$5.5M	$6.6M
Liabilities
Accounts payable	$561,981	$557,287	$395,539	$480,068	$356,405	$354,037	$84,020	$110,737	$269,978	$185,065	$195,814	$394,032
Short-term debt	—	$15,105	$37,287	$59,094	$80,473	$15,662	$38,785	$61,468	$83,706	$14,037	$11,510	$28,512
Deferred revenue	—	—	—	—	—	—	—	—	−$269,978	−$185,065	—	—
Total current liabilities	$678,706	$863,819	$599,071	$837,408	$711,455	$757,350	$757,990	$1.7M	$521,644	$340,928	$294,938	$553,757
Long-term debt	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Lease obligations	$0	$15,056	$37,287	$59,094	$80,473	$15,662	$38,785	$61,468	$83,706	$14,037	$11,510	$28,512
Other long-term liabilities	$0	$0	$0	$0	$0	$0	$0	$0	$1.6M	$3.2M	$531,000	$0
Total liabilities	$678,706	$863,819	$599,071	$837,408	$711,455	$757,350	$757,990	$1.7M	$2.1M	$3.6M	$825,938	$553,757
Shareholders' equity
Common stock & paid-in capital	$20.8M	$20.2M	$20.2M	$19.5M	$18.9M	$18.9M	$18.5M	$17.9M	$17.9M	$17.9M	$17.1M	$17.1M
Retained earnings (deficit)	−$26.3M	−$24.7M	−$23.8M	−$23.2M	−$22.6M	−$21.9M	−$21.2M	−$21.3M	−$20.7M	−$28.3M	−$23.7M	−$20.6M
Accumulated other comprehensive income	$11.0M	$5.8M	$5.7M	−$52,605	$5.7M	−$52,605	−$52,605	−$52,605	−$52,605	−$52,605	−$52,605	−$52,605
Total shareholders' equity	$5.5M	$1.3M	$2.1M	$2.0M	$2.0M	$2.7M	$3.3M	$2.1M	$2.7M	$2.5M	$4.6M	$6.1M
Key figures
Total debt	—	$15,105	$37,287	$59,094	$80,473	$15,662	$38,785	$61,468	$83,706	$14,037	$11,510	$28,512
Net cash (debt)	—	$235,993	$827,227	$1.1M	$983,004	$1.9M	$2.4M	$2.2M	$3.0M	$3.8M	$3.4M	$5.0M
Working capital	$1.8M	−$491,553	$662,027	$520,071	$553,065	$1.3M	$1.9M	$693,643	$2.8M	$4.3M	$3.8M	$4.7M
Tangible book value	$3.0M	$1.1M	$1.9M	$1.8M	$1.8M	$2.6M	$3.2M	$1.9M	$2.5M	$2.3M	$4.5M	$5.9M
Book value per share	$3.40	$0.93	$1.59	$2.03	$2.68	$3.67	—	$0.73	$0.93	$1.03	—	$3.04
Shares outstanding	1.6M	1.4M	1.3M	971K	758K	747K	—	2.9M	2.9M	2.4M	—	2.0M
Current ratio	3.59	0.43	2.11	1.62	1.78	2.78	3.53	1.40	6.43	13.68	13.80	9.44
Quick ratio	1.59	0.37	1.58	1.45	1.51	2.53	3.29	1.35	5.95	11.34	11.90	9.28
Debt / equity	—	0.01	0.02	0.03	0.04	0.01	0.01	0.03	0.03	0.01	0.00	0.00
Equity / assets	89.0%	59.9%	77.7%	70.2%	74.1%	78.4%	81.5%	55.4%	56.4%	41.2%	84.9%	91.7%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 20, 2026); data from EODHD.

XRTX financial position

At the end of fiscal 2025 (December 31, 2025), XORTX Therapeutics had total assets of $2.7 million (down 34.6% from a year earlier), total liabilities of $0.6 million and shareholders' equity of $2.1 million. It held $0.9 million in cash and short-term investments against $0.0 million of debt, a net cash position of $0.8 million. Its current ratio was 1.61. In the latest quarter (ended June 30, 2026) total assets were $6.2 million and equity $5.5 million.

Related: XRTX income statement, XRTX cash flow statement, XRTX key metrics. See the XRTX stock overview for the latest quote and news.

XRTX balance sheet FAQ

What are XORTX Therapeutics's total assets?

XORTX Therapeutics reported total assets of $2.7 million at the end of fiscal 2025 (December 31, 2025), compared with $4.1 million a year earlier.

How much debt does XORTX Therapeutics have?

XORTX Therapeutics 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 0.02.

How much cash does XORTX Therapeutics have?

XORTX Therapeutics held $0.9 million in cash and short-term investments at the end of fiscal 2025; with $0.0 million of debt that is net cash of $0.8 million.

What is XORTX Therapeutics's book value?

XORTX Therapeutics's shareholders' equity (book value) was $2.1 million at the end of fiscal 2025, or $2.20 per share.

What is XORTX Therapeutics's current ratio?

XORTX Therapeutics had current assets of $1.0 million and current liabilities of $0.6 million, a current ratio of 1.61 (it can cover its short-term obligations).

How much goodwill does XORTX Therapeutics have?

XORTX Therapeutics carried $0.2 million of goodwill and intangible assets, 6.9% of total assets, at the end of fiscal 2025.