This company has been acquired
Neovasc Balance Sheet Health
Financial Health criteria checks 5/6
Neovasc has a total shareholder equity of $15.8M and total debt of $12.6M, which brings its debt-to-equity ratio to 79.8%. Its total assets and total liabilities are $38.7M and $22.9M respectively.
Key information
79.8%
Debt to equity ratio
US$12.63m
Debt
Interest coverage ratio | n/a |
Cash | US$25.79m |
Equity | US$15.84m |
Total liabilities | US$22.89m |
Total assets | US$38.73m |
Recent financial health updates
Recent updates
Neovasc GAAP EPS of -$3.29 misses by $0.93, revenue of $0.82M beats by $0.13M
Aug 11Neovasc expands direct sales operations to include the UK
Jul 05Neovasc EPS beats by $0.05, misses on revenue
May 06Neovasc receives Nasdaq notification regarding minimum market value deficiency
Dec 11Neovasc plunges in early trade on $6.1M registered direct offering
Dec 08FDA Ad Com thumbs down on Neovasc Reducer; shares plummet 36%
Oct 28Financial Position Analysis
Short Term Liabilities: NVCN's short term assets ($29.8M) exceed its short term liabilities ($10.1M).
Long Term Liabilities: NVCN's short term assets ($29.8M) exceed its long term liabilities ($12.8M).
Debt to Equity History and Analysis
Debt Level: NVCN has more cash than its total debt.
Reducing Debt: NVCN had negative shareholder equity 5 years ago, but is now positive and has therefore improved.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss-making in the past, we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: NVCN has sufficient cash runway for more than a year based on its current free cash flow.
Forecast Cash Runway: NVCN has less than a year of cash runway if free cash flow continues to grow at historical rates of 21.2% each year.