RenX Enterprises Corp
RENX
RenX Enterprises Corp AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill of 23.4M is 1,178% of equity (1.98M) - any impairment would wipe out entire book value and trigger covenant issues[Goodwill]
- Current liabilities 32.6M vs current assets 3.3M = current ratio of 0.10x; cash of 233K covers <1% of near-term obligations[Current Liabilities]
- Operating loss of -7.3M TTM on 5.0M revenue (-146% margin) vs industry median +19% - burning 1.5x revenue annually[Operating Income TTM]
Watch Triggers
- Cash and Equivalents: Falls below 100K or requires emergency financing — At current burn, 233K cash lasts weeks; any delay in financing = default risk
- Goodwill: Any impairment charge recorded — 23.4M goodwill vs 2M equity - even 10% writedown eliminates book value
- Total Debt: Covenant waiver requests or restructuring announcements — 26M debt with 4.7M interest on 5M revenue is unsustainable
Bull Case
Gross margin of 26% (1.3M TTM) shows core operations can generate value if overhead restructured; 5M revenue base exists
23.4M goodwill implies prior acquisitions with potential strategic value to acquirer at distressed prices
Bear Case
Debt/equity ratio of 13x with interest expense (4.7M) nearly equal to revenue (5.0M) - mathematically insolvent structure
Operating expenses of 8.6M are 173% of revenue; would need 3.4x revenue growth just to break even at current cost base
Bull vs Bear Balance
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Forward Thesis
Liquidity crisis likely within 6-12 months without dilutive financing or asset sales
- Cash of 233K vs 32.6M current liabilities due
- Operating cash burn of -501K TTM accelerating
- Debt of 26M with 4.7M interest expense unsustainable
Valuation Context
Caveats
Public Strategies Rankings
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RENX Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
Beta 5Y (Monthly) | unknown | — |
RENX Dividend History
RENX Stock Splits
RENX SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/14/25 | 09/30/25 | 10-Q | |
08/15/25 | 06/30/25 | 10-Q | |
05/15/25 | 03/31/25 | 10-Q | |
03/31/25 | 12/31/24 | 10-K | |
11/14/24 | 09/30/24 | 10-Q | |
08/14/24 | 06/30/24 | 10-Q | |
05/15/24 | 03/31/24 | 10-Q | |
04/01/24 | 12/31/23 | 10-K | |
11/14/23 | 09/30/23 | 10-Q | |
09/12/23 | 06/30/23 | 10-12B/A | |
08/10/23 | 03/31/23 | 10-12B/A | |
09/12/23 | 12/31/22 | 10-12B/A | |
02/06/23 | 09/30/22 | 10-12B/A | |
09/12/23 | 06/30/22 | 10-12B/A | |
08/10/23 | 03/31/22 | 10-12B/A | |
02/06/23 | 09/30/21 | 10-12B/A |