Xmax Inc. balance sheet

At the end of fiscal 2025, Xmax Inc. had total assets of $35.5m, total liabilities of $7.6m and shareholders' equity of $28.0m. It held $6.7m in cash against $5.0m of debt.

Balance sheet

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

Xmax Inc.: balance sheet, annual
Fiscal year	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	1	3	3	2	1	1	3	6	0	9	9	6	1	0	0	7	35
Receivables	6	19	22	28	43	43	42	54	67	0	1	0	0	0	0	2	3
Inventory	1	2	3	3	4	3	3	6	6	30	33	3	5	2	3	2	2
Total current assets	9	24	32	38	57	66	70	75	85	68	43	26	8	4	8	12	47
Goodwill	—	0	0	1	0	0	0	0	0	0	0	0	0	0	0	—	—
Total assets	18	35	51	61	81	90	77	80	90	72	46	30	12	6	10	36	121
Accounts payable	1	7	7	7	10	6	2	2	4	0	1	0	0	0	1	0	0
Deferred revenue (current)	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0	0	0
Total current liabilities	3	8	16	9	22	17	12	3	12	1	2	2	2	4	6	2	2
Long-term debt	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	5	5
Total debt	0	0	7	7	8	8	8	4	12	0	0	0	0	0	0	5	5
Total liabilities	5	12	20	22	29	30	14	11	15	6	6	6	5	6	7	8	15
Shareholders' equity	13	23	30	39	52	60	63	68	75	66	41	23	7	0	3	28	106
Shares outstanding	—	—	—	—	—	—	—	—	—	—	—	—	1m	2m	—	—	64m

US$ millions unless shown otherwise. Fiscal quarters.

Xmax Inc.: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	0	0	0	0	8	2	2	3
Inventory	5	3	2	2	2	2	2	2
Total current assets	3	8	10	10	12	12	20	47
Goodwill	0	0	—	—	—	—	—	—
Total assets	5	10	12	36	18	36	47	121
Accounts payable	0	1	0	0	1	0	0	0
Deferred revenue (current)	—	0	0	0	0	0	0	0
Total current liabilities	4	6	4	4	4	2	2	2
Long-term debt	—	—	—	—	—	5	5	5
Total debt	—	—	—	—	—	5	5	5
Total liabilities	6	7	5	5	5	8	7	15
Shareholders' equity	−1	3	7	7	14	28	40	106
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	24	—	—	—	—
Shares outstanding	4m	7m	14m	14m	34m	42m	54m	64m

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 Xmax Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Xmax Inc.