Which robotics companies carry going-concern flags?

Every flagged company

1. Vicarious Surgicalgoing-concern flag

   Substantial-doubt going-concern: cash/ST investments $3.7M at Mar 31 2026, management states only funds operations through Q2 2026 absent new capital; NYSE delisting notice Mar 3 2026, now OTCQB/OTCID: RBOT.

   SEC filing →

   3 mo runway

   distressed
2. Aescapegoing-concern flag

   DISTRESS: original Aescape Inc entity entered insolvency/creditor proceedings Apr 2026 (USD 150M+ debt) after an SVB default notice Dec 2025; assets sold via ~USD 16.625M credit bid to successor Aescape Recovery Inc (~Mar 2026), which continues under restructuring.

   distressed
3. Agerrisgoing-concern flag

   WOUND DOWN: Australian ag-robotics startup (University of Sydney ACFR spinout) raised AUD 6.5M in 2019 (Uniseed, BridgeLane, Carthona Capital) but CEASED OPERATIONS around late 2021-2022 with no further activity; IP/robot design carried into successor efforts. Treat as wound down.

   wound down
4. AutoXgoing-concern flag

   Wound down China robotaxi operations; founder pivoted to Tensor (US).

   wound down
5. Cartwheel Roboticsgoing-concern flag

   WOUND DOWN: shut down ~Feb 6 2026. Raised only ~USD 3M seed; founder cited inability to raise hardware-scaling capital. Company defunct.

   wound down
6. Cyngngoing-concern flag

   Public (NASDAQ:CYN); FY2025 10-K carries an explicit auditor going-concern doubt. Revenue only about 219K USD (down YoY), net loss 23.5M USD, accumulated deficit 216.8M USD, plus a warrant-accounting restatement.

   distressed
7. Dendra Systemsgoing-concern flag

   DENDRA SYSTEMS LTD (UK) entered administration Sep 24 2025 (FRP Advisory); Australian entity faced a winding-up order Feb 2026; FY2023 swung to a post-tax loss over GBP 2.7M with net liabilities ~GBP 2.2M.

   wound down
8. DIH Holdinggoing-concern flag

   Public but DELISTED (was DHAI; trading suspended Nov 7 2025). FY ended Mar 31 2025 revenue 62.9M USD; FY2025 10-K carries explicit going-concern doubt with only 1.9M USD cash, sub-12-month runway, and operations SUSPENDED pending strategic alternatives. Rehab-robotics maker.

   distressed
9. EasyMilegoing-concern flag

   Entered French judicial reorganization (redressement judiciaire) Jul 2024 due to inability to finance operations; now under a 10-year continuation plan approved Mar 31 2025 backed by shareholders Alstom, Continental, Bpifrance, Searchlight.

   distressed
10. Embodiedgoing-concern flag

    Wound down 2023.

    wound down
11. Eviation Aircraftgoing-concern flag

    Company laid off most staff and paused development in February 2025 while seeking funding

    distressed
12. Fetch Roboticsgoing-concern flag

    Zebra subsidiary; AMR business being wound down (2025).

    wound down
13. GAC Groupgoing-concern flag

    H1 2026 net loss of RMB 4.06-4.57 billion, nearly doubled from prior year; traditional JV profit model collapsing while heavy EV investments not yet profitable

    distressed
14. Gaussingoing-concern flag

    HARD INSOLVENCY: Euronext Growth Paris-listed (ALGAU). Safeguard then receivership (Vesoul Commercial Court, Sept 24, 2024), then JUDICIAL LIQUIDATION ordered Nov 29, 2024 after both takeover bids rejected; ~EUR 140M debt, 235 creditors, ~65 employees affected. Sold subsidiary Metalliance to Corail-SM (2024). Treat as wound down.

    wound down
15. German Bionicgoing-concern flag

    Status: filed for insolvency/bankruptcy Nov 2025 (private company).

    distressed
16. Humanegoing-concern flag

    HP acquired assets Feb 2025; operations wound down.

    wound down
17. iRobotgoing-concern flag

    Auditor going-concern explanatory paragraph in FY2024 10-K (filed Mar 12 2025); substantial doubt reiterated through 2025; filed Chapter 11 bankruptcy Dec 14 2025.

    SEC filing →

    distressed
18. Iron Oxgoing-concern flag

    Defunct; pivoted to Inevitable Tech ~Jun 2023; cessation 2024-06-30.

    wound down
19. Jibogoing-concern flag

    Defunct (2019).

    wound down
20. Karakurigoing-concern flag

    Defunct (administration Jun 2023; assets sold ~GBP 350k).

    wound down
21. Kodiak AIgoing-concern flag

    Public (NASDAQ:KDK, SPAC Sep 2025); auditor expressed substantial doubt about going concern, under one year of cash runway, Q1 2026 operating loss about 37.9M USD, FY2026 FCF guided negative 160-170M USD; raised 100M USD PIPE May 2026.

    distressed
22. Microvastgoing-concern flag

    Public (NASDAQ:MVST); FY2025 revenue 427.5M USD up 13 pct with a GAAP net loss of 29.2M USD (non-GAAP adjusted profit). Deloitte flagged substantial going-concern doubt in the FY2025 10-K driven by near-term debt maturities (about 93.1M USD due within 12 months plus a 26.5M USD convertible) against about 105M USD cash; refinancing is the key risk.

    distressed
23. Monarch Tractorgoing-concern flag

    Defunct; assets/IP acquired by Caterpillar (Apr 2026).

    wound down
24. Nauticus Roboticsgoing-concern flag

    SEC filing →

    distressed
25. Navyagoing-concern flag

    Failed: entered receivership Feb 1 2023 (Lyon Commercial Court), placed in judicial liquidation; on Apr 18 2023 all assets sold to Gaussin and Macnica for EUR 1.4M and the listed entity was delisted from Euronext Paris.

    wound down
26. Neato Roboticsgoing-concern flag

    Ceased operations May 2023; Vorwerk terminated cloud services 2025.

    wound down
27. Oasagoing-concern flag

    Founder confirmed shutdown in open letter (May 2025)

    wound down
28. Peanut Roboticsgoing-concern flag
    distressed
29. SoftBank Robotics (Pepper)going-concern flag
    distressed
30. Rapid Roboticsgoing-concern flag

    WOUND DOWN: ceased operating as an independent company. Germanys RobCo acquired Rapid Robotics ASSETS (hardware, customers, local team) Sept 9 2025 as an asset acquisition, not a going-concern equity deal; prior workforce reductions reported. Assets now inside RobCo.

    wound down
31. Small Robot Companygoing-concern flag

    WOUND DOWN. Entered Creditors Voluntary Liquidation Feb 1, 2024 (Companies House no. 10846464; liquidators Kroll) after lead investor pulled out in 2023 and crowdfunding could not sustain scale; ~50+ staff laid off. Company dissolved Apr 30, 2026. ~GBP 14.2M raised (grants + 6 Crowdcube rounds) lost. Asset/IP buyer not confirmed.

    wound down
32. Trinseogoing-concern flag

    Filed for Chapter 11 bankruptcy protection on May 26, 2026. FY2025 net loss USD 546M, negative free cash flow USD 153M.

    distressed
33. Trunk.Techgoing-concern flag

    Only 30.7 million yuan cash as of June 2025; cumulative losses near 8 billion yuan; asset-liability ratio 106.56 percent indicating insolvency; IPO filing to replenish funds.

    distressed
34. Volocoptergoing-concern flag
    acquired
35. Willow Garagegoing-concern flag

    Defunct (2014).

    wound down
36. Wootzanogoing-concern flag

    In liquidation after Innovate UK enforcement; Edinburgh Court of Session granted a sist (May 2026) pausing liquidation, supervised trading under interim managers. Active going-concern doubt.

    distressed
37. Zotye Autogoing-concern flag

    Wikipedia reports Zotye unable to continue vehicle production due to liquidity problems as of June 2025; 1B RMB loss on 558M RMB revenue in 2024

    distressed
38. 3D Systemselevated risk

    Public (NYSE:DDD); FY2025 revenue 386.9M USD (down 12 pct). GAAP net income 29.9M USD was driven by about 139.6M USD asset-disposition gains while core adjusted EBITDA stayed negative (about -45.4M USD). 2025 debt equitization cut near-term maturities; cash 97.1M USD vs debt about 90.3M USD; restructuring ongoing.

    mature
39. Aevaelevated risk

    Public (NASDAQ:AEVA); FY2025 revenue 18.1M USD (up about 99 pct) with net loss 145.4M USD. About 121.9M USD cash/securities against about 115.1M USD operating burn implies roughly 12-month runway absent new financing; pre-commercial lidar.

    growth
40. AICRoboelevated risk

    Indoor-logistics AMR / navigation-OS maker founded 2015 (Shenzhen). Small Series A; reportedly possibly dormant. No confirmed wind-down, but elevated uncertainty on continued operations.

    early
41. AirForestryelevated risk

    Private, pre-revenue early stage; raised 10.3M EUR seed led by Northzone (Oct 2024) plus a pre-Series A convertible.

    early
42. Amprius Technologies, Inc.elevated risk

    Public (NYSE:AMPX); FY2025 revenue 73.0M USD up about 202 pct with a net loss of 44.0M USD (incl. 22.5M USD facility impairment; Q4 non-GAAP adjusted EBITDA positive). About 91.9M USD cash; guiding toward profitability. No going-concern doubt.

    growth
43. ams OSRAMelevated risk

    Public (SWX:AMS); FY2025 revenue EUR 3,323M with a net loss of EUR 129M (much improved from -785M) and positive free cash flow EUR 144M. High leverage (net debt EUR 1,518M) plus a Feb 2026 Simplify program (about 2,000 job cuts); no going-concern flag found.

    mature
44. Artificialelevated risk
    early
45. Asanaelevated risk

    Public (NYSE:ASAN). Work-management SaaS firm; FY2025 (ended Jan 2025) revenue about 724M USD, still GAAP-loss-making but with a large cash balance and improving free cash flow. Elevated = persistent GAAP losses; solid liquidity, no going-concern doubt.

    growth
46. BlackSkyelevated risk

    Public (NYSE:BKSY); FY2025 revenue 106.6M USD up 4.4 pct with net loss 70.3M USD. Cash 42.4M USD against long-term debt 193.2M USD; levered relative to cash but no insolvency/going-concern signals.

    growth
47. Boeingelevated risk

    Public (NYSE:BA). Aerospace prime under multi-year financial strain: FY2024 revenue about 66.5B USD with a net loss of about 11.8B USD, heavy debt, and 737/787 program and certification headwinds plus a 2024 labor strike. Solvent and systemically important but distressed earnings/cash profile; raised about 24B USD equity in late 2024 to shore up liquidity.

    mature
48. CALBelevated risk

    Public (HK:3931; China Aviation Lithium Battery). EV-battery maker; FY revenue in RMB, low/negative margins amid the battery price war as a smaller-share player. Solvent. Elevated.

    growth
49. Cambrian Roboticselevated risk
    early
50. Covariantelevated risk

    Acquired/merged; continuity tied to acquirer per status. Stored verified total funding/raised: ~$160M.

    wound down
51. Dexai Roboticselevated risk

    Early-stage private company (seed/Series A per status); limited disclosed capitalization.

    early
52. Einrideelevated risk

    Well-funded private maker; PIPE pre-SPAC Feb 2026; ~$113M total raised. No going-concern signal.

    growth
53. Estun Automationelevated risk

    Public (SHE:002747); FY2024 (last fully audited) revenue CNY 4.0B with a net loss of about CNY 810M on impairments and weak demand; FY2025 reportedly returned to a small profit (preliminary). High leverage (net debt about CNY 3.05B) and weak interest coverage.

    growth
54. Fortem Technologieselevated risk

    US counter-UAS company (DroneHunter), about USD 69M raised with strategic investors (Lockheed Martin USD 25M Series B Apr 2026, plus Boeing, Hanwha). Watch flag: employee reviews reference past layoffs and a temporary pay cut (prior cash strain); no formal going-concern evidence and now strategically backed.

    growth
55. Haima Automobileelevated risk

    Public (SZSE:000572; Haima Automobile). Small automaker with a history of losses and going-concern/delisting-risk warnings in past years; thin volumes. FY revenue in RMB. Financially weak. Elevated.

    distressed
56. Happy Healthelevated risk

    Early-stage private company (seed/Series A per status); limited disclosed capitalization. Stored verified total funding/raised: ~$60M.

    early
57. Hullbotelevated risk

    Private (Australia); raised AUD 16M (about 10.6M USD) Series A (Nov 2025, led by Regeneration.VC) to scale autonomous hull-cleaning robots.

    growth
58. Hydromeaelevated risk
    early
59. Hyphenelevated risk

    Early-stage private company (seed/Series A per status); limited disclosed capitalization.

    early
60. Hytera Communicationselevated risk

    Public (SZSE:002583). Two-way-radio maker hit by a major US Motorola trade-secret judgment and a US import/criminal case; FY revenue in RMB. Litigation/sanctions overhang. Solvent but elevated legal risk.

    mature
61. indiGO Technologieselevated risk

    Early-stage US EV / in-wheel-motor startup (Woburn MA; SmartWheels in-wheel motor; founded by MIT Prof. Ian Hunter). Took a Foxconn/Hon Hai strategic investment (2024). Private, pre/early-revenue with no disclosure; no verified bankruptcy/going-concern evidence. Distinct from Indigo Ag and indiGO auto-group dealerships.

    early
62. Intel RealSenseelevated risk

    Product line/operations reported discontinued per status.

    distressed
63. JA Solarelevated risk

    Public (SZSE:002459). Solar-module maker hit hard by the 2024-25 PV-overcapacity price collapse, swinging to losses. Solvent but financially pressured. Elevated.

    growth
64. Lucid Motorselevated risk

    Public (NASDAQ:LCID); FY2025 revenue 1.35B USD up 68 pct with a net loss of about 2.7B USD (loss roughly 2x revenue). About 4.6B USD total liquidity, Saudi PIF backed; heavy dilutive burn but no going-concern flag.

    growth
65. MGI Techelevated risk

    Public (SH:688114; MGI Tech). Gene-sequencer maker; FY revenue in RMB, loss-making in recent years amid US litigation/patent disputes and post-COVID normalization. Solvent. Elevated.

    growth
66. Microbot Medicalelevated risk

    SEC filing →

    early
67. MicroPort Scientific Corporationelevated risk

    China-based medical-device group (HKEX:0853), USD-native reporter. FY2024 revenue USD 1,031.1M; loss-making (net loss about USD 214.0M, narrowed 59% YoY; EBITDA turned positive). PRIOR going-concern history: KPMG flagged material uncertainty tied to a 2024 convertible-bond redemption, resolved mid-2024 via a USD 150M convertible facility plus USD 300M credit support; pressure has eased but the group remains leveraged.

    mature
68. Miso Roboticselevated risk

    Well-funded private maker; ~$127M raised; Series E; Zignyl merger announced Feb 2026. No going-concern signal.

    growth
69. Naio Technologieselevated risk
    distressed
70. Nano Dimensionelevated risk
    growth
71. Nebiuselevated risk

    Public (NASDAQ:NBIS). AI-cloud/infrastructure firm (former Yandex N.V. successor); rapidly growing AI revenue but heavy capex and operating losses funded by a large post-restructuring cash balance (multi-billion USD). Elevated = early-stage AI buildout burn; well-capitalized, no going-concern doubt.

    growth
72. NetPosa Technologieselevated risk

    Public (SZSE:300367; NetPosa Technologies). AI video-surveillance firm with weak/negative profitability and a small cap; FY revenue in RMB. Solvent but financially weak. Elevated.

    growth
73. NewSpace Research and Technologieselevated risk

    DISTRESS SIGNALS: FY24 operating revenue collapsed to near-nil from ~INR 103 Cr FY23; loss ~INR 62 Cr; CARE Ratings (Mar 2025) flagged nil operating income across FY24-9MFY25 due to MoD offtake delays. Company remains Active and raised venture debt (INR 115 Cr, Aug 2025); no NCLT/insolvency. going_concern_flag left FALSE absent a formal going-concern/insolvency event.

    distressed
74. NIOelevated risk

    Public (NYSE:NIO); FY2025 revenue RMB 87.5B up 33 pct with a net loss of RMB 14.9B (narrowed 33 pct; Q4 2025 turned GAAP profitable). Persistent but improving losses, no going-concern disclosed.

    growth
75. NSG Groupelevated risk

    Public (TYO:5202; Nippon Sheet Glass). Glass maker carrying high leverage with thin/volatile profitability and preferred-share refinancing needs. Solvent but stretched. Elevated.

    mature
76. Ohmioelevated risk

    Private (New Zealand); autonomous-shuttle maker with deployments in several countries but only minor disclosed grant funding (NZD 150K, 2022) and no verified venture round as of 2025.

    early
77. Open Vision Engineering (Hey Pocket)elevated risk

    Early-stage private company (seed/Series A per status); limited disclosed capitalization.

    early
78. Persona AIelevated risk
    early
79. Pliant Energy Systemselevated risk
    early
80. QKM Technologyelevated risk
    mature
81. QuantumScapeelevated risk

    Public (NYSE:QS); pre-revenue (GAAP revenue about 0; 19.5M USD customer billings) with a FY2025 net loss of 435.1M USD. About 970.8M USD liquidity and a stated runway into about 2028 aided by PowerCo licensing; no going-concern doubt.

    growth
82. Red Cat Holdingselevated risk

    Prior substantial-doubt going-concern resolved via 2025 registered offerings (Apr/Jun/Sep, incl. ~$172.5M Sep); cash rose from $9.2M (2024) to $167.9M (end 2025); company states doubt no longer exists.

    SEC filing →

    growth
83. Redwire Corporationelevated risk

    Public (NYSE:RDW). Space-infrastructure firm; FY2024 revenue about 310M USD, historically loss-making with modest cash and meaningful execution/financing risk; merged with Edge Autonomy (2025) to scale. Elevated small-cap space risk; no going-concern doubt found.

    growth
84. Sarcos Roboticselevated risk

    Public (NASDAQ:PDYN, Palladyne AI); about 57.1M USD cash/securities (Q3 2025), debt-free, stated 12-month-plus runway. FY2025 net income about 10M USD was a non-cash warrant artifact while operations burned about 27.6M USD. Elevated burn is a watch item.

    growth
85. Seamless Visionelevated risk

    Seed-stage Israeli startup (founded 2017). No verified distress event, but no funding or major news since ~2020-2021; flagged as stale/low-activity. going_concern_flag left FALSE absent an insolvency event.

    early
86. SenseTimeelevated risk

    Public (HK:0020); FY2024 revenue RMB 3.77B with a net loss of RMB 4.3B (loss exceeds revenue, narrowing). Persistent large cash burn funded by equity (about RMB 13.2B cash); near-term runway covered but profitability distant.

    growth
87. Serve Roboticselevated risk

    Prior going-concern doubt (recurring losses, negative operating cash flow) alleviated by 2025 raises incl. $100M direct offering; cash ~$260M Mar 2026, runway stated through end of 2026.

    SEC filing →

    growth
88. Sharp Corporationelevated risk

    Public (TYO:6753; Foxconn-controlled). Electronics maker that posted large losses (FY ended Mar 2024 net loss) driven by its LCD-panel business, prompting display-fab closures and restructuring. Foxconn-backed but financially strained. Elevated.

    mature
89. Solid Powerelevated risk

    Public (NASDAQ:SLDP); FY2025 revenue and grant income about 21.7M USD with a net loss of 93.4M USD. About 336.5M USD total liquidity and a multi-year runway (2026 cash-use guide 85-100M USD); no going-concern doubt.

    growth
90. Somaticelevated risk
    early
91. Spire Globalelevated risk

    Public (NYSE:SPIR); FY2025 revenue 71.6M USD (down after the Apr 2025 maritime-business sale). Prior 2024 going-concern doubt RESOLVED: now debt-free with 81.8M USD cash/securities. Watch items: ongoing operating burn and a Jul 2025 SEC subpoena.

    growth
92. Stargate Infrastructureelevated risk
    early
93. Tinavi Medical Technologieselevated risk

    SEC filing →

    distressed
94. Touchlabelevated risk
    early
95. TP-Link Technologieselevated risk

    Chinese networking-equipment maker (Shenzhen entity after the 2024 split from the international/US TP-Link Systems). No audited public financials; revenue not verifiable (third-party estimates only). Key risk: an Oct 2025 US Commerce interagency review concluded a US home-router ban is warranted on national-security grounds (existential to the US entity if enacted, not a solvency event as of mid-2026). No bankruptcy/default flags.

    mature
96. Transforma Roboticselevated risk

    Early-stage NTU spin-off (founded 2017) with incubator/grant funding (NTUitive, SPRING Singapore, Lion City Angel). Activity appears to have stalled after ~2020 and primary domain is now parked/for-sale, indicating likely wind-down, but no confirmed insolvency filing.

    distressed
97. Trina Solarelevated risk

    Public (SSE:688599). Solar-module maker hit by the 2024-25 PV price collapse and overcapacity, with sharply lower/negative profit. Solvent but pressured. Elevated.

    growth
98. TuSimpleelevated risk

    Product line/operations reported discontinued per status. Stored verified total funding/raised: ~$1.43B.

    distressed
99. u-bloxelevated risk

    Public (SIX:UBXN); FY2024 (last fully reported) revenue CHF 262.9M with a net loss of CHF 88.9M (incl. CHF 31.0M impairment). Underwent strategic restructuring (exited Cellular, about 20 pct workforce cut) but holds CHF 101M net cash and is returning to profitability. Not insolvency.

    mature
100. Unibapelevated risk

     PUBLIC (Unibap Space Solutions AB; Nasdaq First North Growth Market Stockholm, ticker UNIBAP). Loss-making across 2025 outside Q1 (Q2 net loss, Q3 operating loss). No formal going-concern/auditor warning found; management denied capital-raise plans (Q3 2025 call). Third-party analyst flagged negative FCF / short cash runway (model, not a company statement).

     mature
101. Whirlpool Corporationelevated risk

     Public (NYSE:WHR). Major appliance maker; FY2024 revenue about 16.6B USD. Carries elevated leverage, dividend pressure, and weak housing-driven demand; solvent but financially stretched. Elevated.

     mature
102. Wyca Roboticselevated risk
     early
103. YOGO Robotelevated risk
     growth
104. ZMPelevated risk
     mature