The company's solvency is increasingly precarious, evidenced by a 2026Q1 current ratio of 0.06 and a debt-to-equity ratio that has climbed to 1.31, signaling heavy reliance on leverage to fund operations.
| Total Current Assets | 1.25M | 390K | 3.29M | 4.16M | 16.84M | 17.09M | 27.62M | 36M | 69.23M | 10.04M | 5.31M |
| Cash & Short-Term Investments | 441K | 88K | 2.87M | 3.56M | 15.86M | 15.04M | 23.91M | 30.58M | 64.31M | 8.24M | 3.92M |
| Cash Only | 441K | 88K | 2.87M | 3.56M | 15.86M | 15.04M | 23.91M | 14.58M | 64.31M | 8.24M | 3.92M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15.99M | 0 | 0 | 0 |
| Accounts Receivable | 261K | 155K | 70K | 137K | 0 | 21K | 24K | 786K | 1.32M | 517K | 393K |
| Days Sales Outstanding | 53.86 | 69.08 | 60.83 | 113.13 | - | 348.41 | 33.82 | 39.85 | 77 | 32.15 | 24 |
| Inventory | 62K | 86K | 33K | 44K | 0 | 986K | 877K | 2.78M | 2.1M | 1.2M | 870K |
| Days Inventory Outstanding | 35.21 | 498.25 | 286.79 | 535.33 | - | 230.7 | 147.38 | 114.53 | 181.98 | 104.81 | 101.19 |
| Other Current Assets | 485K | 61K | 316K | 415K | 977K | 0 | 1.71M | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 33.84M | 15.47M | 24.48M | 26.57M | 0 | 3.96M | 5.82M | 8.08M | 4.8M | 1.23M | 534K |
| Property, Plant & Equipment | 1.76M | 226K | 196K | 249K | 0 | 3.92M | 5.7M | 7.88M | 4.76M | 1.16M | 506K |
| Fixed Asset Turnover | 1.77x | 3.62x | 2.14x | 1.78x | - | 0.01x | 0.05x | 0.91x | 1.32x | 5.06x | 11.81x |
| Goodwill | 9.72M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 22.3M | 15.24M | 24.27M | 26.32M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 56K | 8K | 8K | 8K | 0 | 36K | 123K | 196K | 45K | 68K | 28K |
| Total Assets | 35.09M | 15.86M | 27.77M | 30.74M | 16.84M | 21.04M | 33.44M | 44.08M | 74.03M | 11.27M | 5.84M |
| Asset Turnover | 0.04x | 0.05x | 0.02x | 0.01x | 0.00x | 0.00x | 0.01x | 0.16x | 0.08x | 0.52x | 1.02x |
| Asset Growth % | -8.83% | -42.89% | -9.65% | 82.56% | -20% | -37.07% | -24.14% | -40.46% | 556.98% | 92.9% | - |
| Total Current Liabilities | 19.74M | 3.91M | 2.08M | 2.47M | 7.58M | 5.39M | 7.76M | 6.81M | 5.95M | 2.63M | 2.71M |
| Accounts Payable | 1.08M | 1.49M | 230K | 464K | 92K | 988K | 471K | 1.53M | 1.13M | 426K | 473K |
| Days Payables Outstanding | 681.93 | 8.64K | 2K | 5.65K | 208.57 | 231.17 | 79.15 | 63.18 | 97.63 | 37.33 | 55.02 |
| Short-Term Debt | 8.05M | 667K | 177K | 184K | 0 | 0 | 686K | 293K | 293K | 44K | 42K |
| Deferred Revenue (Current) | 126K | 0 | 0 | 0 | 0 | 0 | 1.8M | 2.03M | 1.72M | 1.71M | 1.74M |
| Other Current Liabilities | 10.48M | 1.7M | 67K | 43K | 369K | 2.12M | 1.97M | 1.16M | 1.07M | 213K | 297K |
| Current Ratio | 0.06x | 0.10x | 1.58x | 1.68x | 2.22x | 3.17x | 3.56x | 5.28x | 11.64x | 3.81x | 1.96x |
| Quick Ratio | 0.06x | 0.08x | 1.56x | 1.67x | 2.22x | 2.99x | 3.45x | 4.88x | 11.28x | 3.36x | 1.64x |
| Cash Conversion Cycle | -592.85 | -8.08K | -1.65K | -5K | - | 347.94 | 102.05 | 91.2 | 161.35 | 99.63 | 70.18 |
| Total Non-Current Liabilities | 6.19M | 5.3M | 13.93M | 7.07M | 0 | 1.98M | 4.53M | 4.12M | 1.38M | 16.25M | 3.51M |
| Long-Term Debt | 3.95M | 3.18M | 1.5M | 0 | 0 | 0 | 1.58M | 265K | 557K | 19K | 65K |
| Capital Lease Obligations | 94K | 0 | 13K | 97K | 0 | 1.98M | 2.26M | 2.62M | 0 | -15.38M | 0 |
| Deferred Tax Liabilities | 5.79M | 1.33M | 3.14M | 0 | 0 | 0 | 0 | 0 | 0 | 15.38M | 0 |
| Other Non-Current Liabilities | 792K | 792K | 9.27M | 6.97M | 0 | 0 | 0 | 0 | 56K | 81K | 2.61M |
| Total Liabilities | 25.93M | 9.21M | 16.01M | 9.54M | 7.58M | 7.37M | 12.29M | 10.93M | 7.33M | 18.88M | 6.22M |
| Total Debt | 11.99M | 3.85M | 1.79M | 372K | 0 | 2.26M | 4.88M | 3.5M | 850K | 63K | 107K |
| Net Debt | 11.55M | 3.76M | -1.08M | -3.19M | -15.86M | -12.78M | -19.02M | -11.09M | -63.47M | -8.17M | -3.81M |
| Debt / Equity | 1.31x | 0.58x | 0.15x | 0.02x | - | 0.17x | 0.23x | 0.11x | 0.01x | - | - |
| Debt / EBITDA | -1.34x | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -1.29x | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -47.93x | -68.41x | -147.37x | - | - | -2724.70x | -327.79x | -226.77x | -2200.57x | -4440.00x | -1399.33x |
| Total Equity | 9.16M | 6.65M | 11.76M | 21.19M | 9.26M | 13.67M | 21.15M | 33.15M | 66.7M | -7.62M | -380K |
| Equity Growth % | -131.73% | -43.43% | -44.52% | 128.87% | -32.28% | -35.34% | -36.21% | -50.3% | 975.97% | -1903.95% | - |
| Book Value per Share | 0.00 | 0.01 | 3.60 | 3.86 | 8.96 | 135.38 | 622.34 | 3152.34 | 9033.72 | -786.43 | -39.24 |
| Total Shareholders' Equity | 9.57M | 7.05M | 11.76M | 21.19M | 9.26M | 13.67M | 21.15M | 33.15M | 66.7M | -7.62M | -380K |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 8K | 7K | 1K | 1K | 1K | 1K |
| Retained Earnings | -311.22M | -309.54M | -292.35M | -275.71M | -205.14M | -178.27M | -153.2M | -117.16M | -60.22M | -29.39M | -11.62M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26K | -1.31M | -775K | -589K |
| Minority Interest | -412K | -403K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity exhaustion
As reported in recent financial filings, VTAK's balance sheet trajectory reflects a significant weakening, evidenced by a cash balance that plummeted to $88,000 by 2025Q4, signaling that the company's transition to an electrophysiology-focused business model is currently outpacing its ability to maintain a stable capital base.
The consistent erosion of equity and the accumulation of retained losses exceeding $300 million suggest that the firm's historical restructuring has not yet yielded a sustainable financial foundation. Investors should monitor the widening gap between asset values and the company's actual liquidity, which appears to be narrowing toward a critical failure point.
Based on the company's reported figures, the current ratio has deteriorated to 0.10 as of 2025Q4, indicating that VTAK lacks the necessary liquid assets to cover its immediate short-term obligations without relying on external financing or further dilutive capital raises to sustain its ongoing clinical operations.
The collapse of the current ratio from 1.68 in 2023Q4 to near-zero levels suggests that the company is operating with virtually no buffer against operational shocks. This liquidity profile implies that the firm is highly susceptible to any delay in product adoption or unexpected increases in regulatory compliance costs.
According to the provided balance sheet data, goodwill accounts for a substantial portion of total assets, with $15.2 million reported in 2025Q4, which suggests that the company's asset base is heavily reliant on subjective valuations rather than tangible, revenue-generating equipment or physical infrastructure.
The high concentration of intangibles relative to the minimal net PPE of $226,000 indicates an asset-light model that is highly sensitive to impairment risks if the VIVO system fails to gain market traction. This composition warrants further investigation into whether the carrying value of these assets remains justified by current commercial performance.
As indicated by the company's reported financial statements, the accumulation of $12.0 million in debt by 2026Q1, despite a near-total depletion of cash reserves, suggests that VTAK is increasingly reliant on debt financing to bridge its operational funding gap, creating a precarious leverage profile for an early-stage firm.
The shift toward higher debt levels in the most recent quarter, coupled with a negative equity trajectory, may indicate that the company is exhausting its traditional financing options. This trend suggests that the firm's ability to continue as a going concern is increasingly contingent upon securing non-dilutive capital or achieving a rapid, unlikely inflection in sales.
Quick answers to the most common questions about buying VTAK stock.
As of 2025, Catheter Precision, Inc. (VTAK) had total assets of $15.9M including $0.4M in current assets.
Catheter Precision, Inc. (VTAK) carries total debt of $3.8M, offset by $0.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Catheter Precision, Inc. (VTAK) has total shareholders' equity (book value) of $7.1M ($0.01 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Catheter Precision, Inc. (VTAK) reported a current ratio of 0.10x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.