Investment Thesis
ENDRA is a pre-revenue medical device company with severe liquidity constraints and unsustainable cash burn. With only $356.5K in cash against $1.1M annual operating cash burn and a current ratio of 0.64x, the company has approximately 4 months of runway and faces imminent capital needs. While loss reduction year-over-year is positive, the absence of revenue and ongoing negative cash flows present existential risk.
Strengths
- Losses improved 38.9% YoY and diluted EPS improved 84.3% YoY, indicating cost control progress
- Zero long-term debt eliminates leverage risk and provides future financing flexibility
- Operating in high-potential electromedical device sector with significant market opportunity if product commercializes
Risks
- Pre-revenue company with zero sales; no demonstrated commercial viability or market traction
- Critical liquidity crisis: current ratio of 0.64x and only $356.5K cash against $1.1M annual burn rate implies 4-month runway
- Negative operating and free cash flows with no clear path to profitability; company faces imminent capital needs
- Minimal asset base ($3.4M total assets) leaves no buffer for operational challenges or extended development timelines
Key Metrics to Watch
- Cash position and burn rate relative to runway; any capital raise activity or debt financing
- Revenue recognition from product commercialization or clinical trials progression
- Operating cash flow trajectory; whether cash burn accelerates or stabilizes
Financial Metrics
Revenue
0.0
Net Income
-1.3M
EPS (Diluted)
$-1.09
Free Cash Flow
-1.1M
Total Assets
3.4M
Cash
356.5K
Profitability Ratios
Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
ROE
-73.4%
ROA
-38.1%
FCF Margin
N/A
Balance Sheet & Liquidity
Current Ratio
0.64x
Quick Ratio
0.64x
Debt/Equity
0.00x
Debt/Assets
48.0%
Interest Coverage
N/A
Long-term Debt
0.0
Disclaimer: This analysis is generated by AI based on publicly available SEC EDGAR filings.
It does not include stock price data and should not be considered financial advice.
All fundamental data is sourced from SEC public domain filings.
Always conduct your own research before making investment decisions.
Data Source: SEC EDGAR |
Analysis Date: 2026-05-23T08:52:46.335886 |
Data as of: 2026-03-31 |
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