Token Cat Ltd balance sheet

At the end of fiscal 2025, Token Cat Ltd had total assets of $24.7m, total liabilities of $5.8m and shareholders' equity of $18.9m. It held $139,566 in cash against $887,732 of debt: net debt of $748,166.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Token Cat Ltd: balance sheet, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	4	10	84	28	17	10	10	1	1	0
Receivables	—	1	8	10	10	8	7	4	2	1
Total current assets	—	17	102	76	48	32	25	9	5	25
Goodwill	—	—	—	—	18	18	7	6	—	—
Total assets	—	17	106	81	73	55	34	17	6	25
Accounts payable	—	1	1	1	3	5	2	1	2	1
Deferred revenue (current)	—	1	2	1	1	1	1	0	0	—
Total current liabilities	—	26	18	20	27	24	16	12	14	2
Short-term debt	—	4	0	—	—	1	0	2	4	1
Long-term debt	—	0	0	—	—	—	0	0	1	—
Total debt	0	11	0	0	0	1	1	3	6	1
Total liabilities	—	27	18	21	29	25	21	14	25	6
Shareholders' equity	−42	−61	88	61	44	31	13	3	−19	19
Non-controlling interests and other (assets − liabilities − equity)	—	52	—	—	—	—	—	—	—	—
Net debt (negative = net cash)	−4	0	−84	−28	−17	−9	−9	1	5	1

US$ millions unless shown otherwise. Fiscal quarters.

Token Cat Ltd: balance sheet, quarterly
Quarter	2018 Q1Mar 2018	2018 Q2Jun 2018	2018 Q3Sept 2018	2018 Q4Dec 2018	2019 Q1Mar 2019
Receivables	—	—	—	8	—
Total current assets	—	—	—	102	—
Total assets	—	—	—	106	—
Accounts payable	—	—	—	1	—
Deferred revenue (current)	—	—	—	2	—
Total current liabilities	—	—	—	18	—
Short-term debt	—	—	—	0	—
Long-term debt	—	—	—	0	—
Total debt	—	—	—	0	—
Total liabilities	—	—	—	18	—
Shareholders' equity	—	—	—	88	—

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Token Cat Ltd's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Token Cat Ltd.