The company's total asset base has surged to $2.9 billion, yet this is supported by only $2.2 million in net PPE, indicating a capital structure heavily reliant on financialized assets rather than tangible infrastructure.
| Total Current Assets | 2.78B | 1.61B | 152.13M | 239.46M | 132.16M | 142.29M | 10.65M |
| Cash & Short-Term Investments | 2.74B | 1.58B | 126.04M | 151.12M | 48.01M | 30.68M | 998.89K |
| Cash Only | 1.84B | 851.47M | 126.04M | 151.12M | 48.01M | 30.68M | 998.89K |
| Short-Term Investments | 899.72M | 725.66M | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 27.32M | 23.47M | 9.84M | 80.41M | 68.26M | 93.07M | 1.18M |
| Days Sales Outstanding | 25.39 | 29.51 | 17.65 | 60.15 | 69.47 | 157.2 | 5.67 |
| Inventory | 117.81K | 765.68K | 1.37M | 1.76M | 1.93M | 4.87M | 1.13M |
| Days Inventory Outstanding | 0.14 | 1.24 | 3.88 | 2.42 | 6.47 | 21.57 | 209.93 |
| Other Current Assets | -2.05M | 9.67M | 14.88M | 6.04M | 13.93M | 13.67M | 7.35M |
| Total Non-Current Assets | 2.28M | 3.85M | 8.43M | 42.66M | 45.26M | 50.74M | 887.68K |
| Property, Plant & Equipment | 1.68M | 2.93M | 4.59M | 5.71M | 294.24K | 815.75K | 737.98K |
| Fixed Asset Turnover | 233.91x | 98.96x | 44.38x | 85.42x | 1218.89x | 264.90x | 102.47x |
| Goodwill | 0 | 0 | 0 | 21.16M | 21.16M | 21.16M | 0 |
| Intangible Assets | 0 | 0 | 0 | 15.38M | 21.76M | 28.14M | 16.49K |
| Long-Term Investments | 600.38K | 600K | 600K | 0 | 1.6M | 0 | 0 |
| Other Non-Current Assets | 8 | 320.1K | 310.47K | 417K | 449.69K | 627.04K | 133.21K |
| Total Assets | 2.78B | 1.61B | 160.56M | 282.12M | 177.42M | 193.03M | 11.54M |
| Asset Turnover | 0.14x | 0.18x | 1.27x | 1.73x | 2.02x | 1.12x | 6.55x |
| Asset Growth % | 72.18% | 905.8% | -43.09% | 59.01% | -8.09% | 1573.17% | - |
| Total Current Liabilities | 82.82M | 30.87M | 17.24M | 81.12M | 63.13M | 125.32M | 12.25M |
| Accounts Payable | 20.89M | 13.41M | 1.31M | 61.21M | 47.02M | 53.09M | 1.97M |
| Days Payables Outstanding | 24.53 | 21.76 | 3.71 | 84.41 | 157.99 | 235.19 | 366.74 |
| Short-Term Debt | 48.89M | 5.27M | 2.9M | 410K | 370 | 210.55K | 0 |
| Deferred Revenue (Current) | 5.49M | 2.95M | 2.23M | 3.4M | 858.71K | 1.56M | 0 |
| Other Current Liabilities | 49.21K | 0 | 0 | 0 | -369 | -210.55K | 7.51M |
| Current Ratio | 33.54x | 52.19x | 8.83x | 2.95x | 2.09x | 1.14x | 0.87x |
| Quick Ratio | 33.54x | 52.16x | 8.75x | 2.93x | 2.06x | 1.10x | 0.78x |
| Cash Conversion Cycle | 1 | 8.99 | 17.82 | -21.83 | -82.05 | -56.42 | -151.14 |
| Total Non-Current Liabilities | 0 | 1.04M | 2.12M | 4.11M | 1.99M | 36.62M | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 33.79M | 0 |
| Capital Lease Obligations | 0 | 1.04M | 2.06M | 2.57M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 1.11M | 1.99M | 2.83M | 0 |
| Other Non-Current Liabilities | 0 | 0 | 62.2K | 425.62K | 0 | 0 | 0 |
| Total Liabilities | 82.82M | 31.91M | 19.36M | 85.23M | 65.12M | 161.94M | 12.25M |
| Total Debt | 50.07M | 7.75M | 6.03M | 4.58M | 370 | 34M | 0 |
| Net Debt | -1.79B | -843.72M | -120.01M | -146.54M | -48.01M | 3.32M | -998.89K |
| Debt / Equity | 0.02x | 0.00x | 0.04x | 0.02x | 0.00x | 1.09x | - |
| Debt / EBITDA | 11.99x | - | - | - | 0.00x | 0.98x | - |
| Net Debt / EBITDA | -429.88x | - | - | - | -0.56x | 0.10x | -0.09x |
| Interest Coverage | - | - | - | - | - | 103.21x | 17.10x |
| Total Equity | 2.7B | 1.58B | 141.2M | 196.89M | 112.3M | 31.09M | -717.83K |
| Equity Growth % | 70.41% | 1021.07% | -28.28% | 75.33% | 261.24% | 4430.67% | - |
| Book Value per Share | 204.73 | 1086.61 | 130.30 | 196.19 | 17.02 | 4.71 | -0.11 |
| Total Shareholders' Equity | 2.69B | 1.58B | 141.12M | 196.6M | 112.3M | 31.09M | -717.83K |
| Common Stock | 129.09M | 7.84M | 42.32K | 36.14K | 86.09K | 86.09K | 86.09K |
| Retained Earnings | -266.16M | -209.74M | -146.91M | -65.5M | 73.82M | -4.69M | -30.71M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -31.4M | 1.73M | 1.69M | 7.93M | 8.48M | 5.78M | 0 |
| Minority Interest | 5.18M | -823.25K | 86.2K | 291.92K | -66 | 0 | 0 |
Capital structure opacity
As reported in recent financial filings, HOLO's total assets surged from $160.6 million in 2023Q4 to $2.9 billion by 2025Q2, a trajectory that appears driven by capital raises rather than organic asset accumulation, warranting significant caution regarding the underlying quality of this rapid balance sheet expansion.
The massive increase in total assets is not mirrored by a corresponding growth in productive capacity or tangible infrastructure. This suggests that the company is effectively functioning as a holding vehicle for cash rather than an industrial operator, which complicates the assessment of its long-term business quality.
Based on the most recent quarterly data, the company maintains a current ratio of 36.26, which is heavily inflated by a $1.6 billion cash position that stands in stark contrast to the persistent operating losses and the lack of a clear, self-sustaining revenue model.
While the liquidity buffer appears robust on the surface, the lack of conversion of this cash into profitable operations suggests that the capital may be trapped or earmarked for non-operational purposes. Investors should monitor whether this liquidity is being utilized to fund ongoing losses or if it remains largely idle.
According to the company's balance sheet, retained earnings have shifted from a deficit of $209.7 million in 2024Q4 to a positive $28.1 million in 2025Q2, a sudden reversal that warrants further investigation into potential accounting adjustments or non-recurring gains that may be masking underlying equity erosion.
The volatility in retained earnings suggests that the equity base is not being built through consistent operational profitability. This instability in the capital structure implies that shareholders are exposed to significant risks related to potential future dilution or accounting restatements.
As indicated by the provided financial statements, net PPE remains negligible at $2.2 million despite a $2.9 billion asset base, suggesting that the company's valuation is almost entirely detached from physical hardware assets and relies heavily on intangible or financialized components that are difficult to value.
The near-total absence of significant PPE indicates that the company is not an asset-heavy manufacturer, which contradicts the narrative of holographic hardware integration. This discrepancy suggests that the balance sheet may be distorted by intangible assets or financial instruments that do not provide a durable competitive moat.
Quick answers to the most common questions about buying HOLO stock.
As of 2025, MicroCloud Hologram Inc. (HOLO) had total assets of $2.78B including $2.78B in current assets.
MicroCloud Hologram Inc. (HOLO) carries total debt of $50.1M, offset by $2.74B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
MicroCloud Hologram Inc. (HOLO) has total shareholders' equity (book value) of $2.69B ($204.73 book value per share). Book value represents the net worth of the company belonging to common stock holders.
MicroCloud Hologram Inc. (HOLO) reported a current ratio of 33.54x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.