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Top 10 Debt-Free Micro Cap Stocks (₹100 Cr to ₹1,000 Cr) in the US — Top 100 List

PosiCap · PositoAI classification

Of the 577 micro cap companies in the US on PositoAI, 152 report no debt (banks and lenders left out). First on the list is Dogwood Therapeutics, Inc. (Positivity Score 27,827). 148 of them have lease obligations (offices, buildings and similar) but no borrowings; the rest have neither. 1 of the top 10 has an active red or yellow flag.

Micro Cap is one of PosiCap, PositoAI's own size classes: companies with a market value ₹100 Cr to ₹1,000 Cr (about $11M to $106M). It is not the SEBI or index definition. About PosiCap

Positivity ScoreHigh dividendDebt freeLow debtLow PEBelow book valueHigh ROEHigh ROE + low PENo red flagsNo red or yellow flagsNear 52-week lowNear 52-week highHigh score near 52-week lowHigh score near 52-week high
#Company Score Market Cap
(INR Cr) / USD		 P/E P/B Owes vs
Owns		 Leases ROE Div
Yield		 FlagSector
1 Dogwood Therapeutics, Inc.DWTX 27,827 ₹359$38.07M 0.5 0.56 0.15× $0M -47.8% 0 — Healthcare
2 Tigo Energy, Inc.TYGO 26,077 ₹671$71.10M 5.4 1.59 0.43× $3M 43.1% 0 — Technology
3 Vyome Holdings, Inc.HIND 25,696 ₹119$12.63M 1.0 2.09 0.20× $0M -999.2% 0 — Healthcare
4 Verde Clean Fuels, Inc.VGAS 25,250 ₹417$44.23M Loss 1.53 0.04× $0M -21.9% 0 — Utilities
5 Mexco Energy CorporationMXC 24,917 ₹186$19.76M 12.9 0.97 0.08× $0M 8.0% 1.02% — Energy
6 Coda Octopus Group, Inc.CODA 24,561 ₹971$102.90M 20.3 1.64 0.09× $0M 8.4% 0 — Industrials
7 PodcastOne, Inc.PODC 24,549 ₹468$49.61M Loss 2.06 0.37× $0M -16.2% 0 — Communication Services
8 VIDA Global Inc.VIDA 24,451 ₹150$15.97M Loss 0.92 0.05× None — 0 — Technology
9 Mastech Digital, Inc.MHH 24,358 ₹714$75.68M 37.1 0.82 0.16× $2M 2.3% 0 ⚑ Industrials
10 NET Power Inc.NPWR 24,305 ₹783$82.99M Loss 0.99 0.08× $4M -142.0% 0 — Industrials

Top 20

11 AleAnna, Inc.ANNA 24,297 ₹915$97.03M 12.5 2.40 0.39× $2M 21.6% 0 — Energy
12 Spero Therapeutics, Inc.SPRO 24,273 ₹621$65.81M 8.1 1.49 0.16× $3M 19.2% 0 — Healthcare
13 AIB Data Centers Inc.AIB 24,033 ₹753$79.78M Loss 0.97 0.09× $0M -9.8% 0 ⚑ Technology
14 EyePoint, Inc.EYPT 23,787 ₹338$35.89M Loss 0.22 0.27× $21M -148.7% 0 — Healthcare
15 Astrotech CorporationASTC 23,642 ₹100$10.63M Loss 0.87 0.25× $3M -75.4% 0 — Technology
16 High Roller Technologies, Inc.ROLR 23,566 ₹526$55.81M Loss 1.88 0.19× $1M 1.5% 0 ⚑ Consumer Cyclical
17 Aware, Inc.AWRE 23,483 ₹179$18.99M Loss 0.83 0.31× $4M -35.0% 0 — Technology
18 CPS Technologies CorporationCPSH 23,464 ₹640$67.82M — 2.02 0.12× $0M -0.1% 0 — Technology
19 LENZ Therapeutics, Inc.LENZ 23,376 ₹963$102.12M Loss 0.47 0.07× $1M -59.2% 0 — Healthcare
20 Tvardi Therapeutics, Inc.TVRD 23,329 ₹122$12.97M Loss 1.55 0.52× $0M -126.2% 0 — Healthcare

Top 50

21 Connect Biopharma Holdings LimitedCNTB 23,300 ₹453$47.99M Loss 1.79 0.38× $1M -140.5% 0 — Healthcare
22 Lisata Therapeutics, Inc.LSTA 23,173 ₹102$10.86M Loss 1.32 0.28× None -101.7% 0 — Healthcare
23 AXIL Brands, Inc.AXIL 23,146 ₹371$39.37M 17.0 3.00 0.27× $0M 23.1% 0 — Technology
24 Kalaris Therapeutics, Inc.KLRS 23,079 ₹447$47.37M Loss 0.82 0.42× $1M -79.9% 0 — Healthcare
25 Health In Tech, Inc.HIT 23,009 ₹354$37.57M Loss 1.92 0.34× $0M -21.9% 0 ⚑ Technology
26 Caribou Biosciences, Inc.CRBU 22,955 ₹566$60.04M Loss 0.61 0.31× $27M -78.3% 0 — Healthcare
27 Metagenomi Therapeutics, Inc.MGX 22,928 ₹291$30.83M Loss 0.27 0.35× $41M -60.6% 0 — Healthcare
28 Geospace Technologies CorporationGEOS 22,923 ₹516$54.72M Loss 0.57 0.24× $1M -34.4% 0 ⚑ Energy
29 Aardvark Therapeutics, Inc.AARD 22,853 ₹815$86.45M Loss 1.16 0.08× $0M -66.0% 0 — Healthcare
30 Optex Systems Holdings, IncOPXS 22,755 ₹628$66.54M 17.4 2.40 0.15× $2M 15.3% 0 ⚑ Industrials
31 Tecogen Inc.TGEN 22,729 ₹589$62.49M Loss 3.53 0.44× $3M -78.3% 0 — Industrials
32 iBio, Inc.IBIO 22,705 ₹475$50.42M Loss 0.59 0.14× $2M -65.7% 0 — Healthcare
33 Pixelworks, Inc.PXLW 22,688 ₹303$32.18M 44.3 0.62 0.04× $1M -25.4% 0 — Technology
34 Cellectar Biosciences, Inc.CLRB 22,589 ₹104$11.06M Loss 0.37 0.18× $0M -119.6% 0 — Healthcare
35 LifeVantage CorporationLFVN 22,565 ₹710$75.28M 14.9 2.24 0.46× $10M 14.9% 3.34% — Consumer Defensive
36 Corbus Pharmaceuticals Holdings, Inc.CRBP 22,476 ₹753$79.88M Loss 0.78 0.19× $2M -95.6% 0 — Healthcare
37 IZEA Worldwide, Inc.IZEA 22,476 ₹386$40.93M Loss 0.86 0.12× $0M -5.1% 0 — Communication Services
38 Ascent Solar Technologies, Inc.ASTI 22,470 ₹164$17.38M Loss 1.14 0.16× $1M -86.6% 0 — Technology
39 Fabric.AI, Inc.FABC 22,430 ₹136$14.43M Loss 0.51 0.43× $0M -298.0% 0 — Technology
40 Franklin Wireless Corp.FKWL 22,358 ₹243$25.81M Loss 0.77 0.28× $1M -20.2% 0 — Technology
41 Tonix Pharmaceuticals Holding Corp.TNXP 22,356 ₹830$87.98M Loss 0.40 0.13× $1M -81.8% 0 ⚑ Healthcare
42 Nephros, Inc.NEPH 22,343 ₹360$38.23M 23.5 3.19 0.24× $1M 16.1% 0 — Healthcare
43 Adicet Bio, Inc.ACET 22,340 ₹378$40.07M Loss 0.33 0.19× $15M -78.1% 0 — Healthcare
44 BARK, Inc.BARK 22,275 ₹660$70.01M Loss 0.92 0.55× $38M -36.7% 0 — Consumer Cyclical
45 ImageneBio, Inc.IMA 22,249 ₹434$46.01M Loss 0.32 0.07× $3M -82.7% 0 — Healthcare
46 MIND Technology, Inc.MIND 22,158 ₹352$37.36M Loss 0.93 0.14× $1M -6.8% 0 — Technology
47 AmpliTech Group, Inc.AMPG 22,158 ₹756$80.14M Loss 1.71 0.20× $4M -19.4% 0 — Technology
48 Seres Therapeutics, Inc.MCRB 22,153 ₹201$21.40M Loss 0.62 0.66× $83M -66.6% 0 — Healthcare
49 ClearSign Technologies CorporationCLIR 22,124 ₹157$16.68M Loss 1.70 0.19× $0M -51.7% 0 — Industrials
50 Equillium, Inc.EQ 22,108 ₹760$80.53M Loss 1.44 0.05× $1M -59.0% 0 — Healthcare

Top 100

51 Ideal Power Inc.IPWR 22,096 ₹442$46.84M Loss 1.10 0.06× $0M -43.0% 0 — Technology
52 Aligos Therapeutics, Inc.ALGS 22,083 ₹284$30.10M Loss 0.94 0.52× $5M -113.6% 0 — Healthcare
53 Intellinetics, Inc.INLX 22,072 ₹195$20.68M Loss 2.11 0.37× $2M -26.6% 0 — Technology
54 Pioneer Power Solutions, Inc.PPSI 22,068 ₹244$25.86M Loss 1.04 0.21× $2M -26.7% 0 ⚑ Industrials
55 Fuel Tech, Inc.FTEK 22,039 ₹397$42.14M Loss 1.13 0.13× $1M -8.9% 0 — Industrials
56 Veru Inc.VERU 22,020 ₹368$39.05M Loss 1.38 0.23× $3M -64.5% 0 — Healthcare
57 LENSAR, Inc.LNSR 21,937 ₹698$73.96M 33.4 4.96 0.79× $3M 357.3% 0 — Healthcare
58 Rave Restaurant Group, Inc.RAVE 21,917 ₹295$31.27M 11.0 1.90 0.11× $1M 18.3% 0 ⚑ Consumer Cyclical
59 Microbot Medical Inc.MBOT 21,910 ₹597$63.26M Loss 0.85 0.05× $1M -32.9% 0 — Healthcare
60 Rallybio CorporationRLYB 21,867 ₹822$87.13M 2.0 0.92 0.04× $0M 64.9% 0 — Healthcare
61 Ebang International Holdings Inc.EBON 21,859 ₹118$12.56M Loss 0.05 0.03× $5M -6.2% 0 — Technology
62 Energy Focus, Inc.EFOI 21,780 ₹157$16.69M Loss 4.99 0.59× $0M -50.2% 0 — Consumer Cyclical
63 Koss CorporationKOSS 21,771 ₹310$32.94M Loss 1.09 0.18× $2M -1.3% 0 — Technology
64 BioVie Inc.BIVI 21,763 ₹104$11.11M Loss 1.08 0.28× $0M -150.8% 0 — Healthcare
65 KULR Technology Group, Inc.KULR 21,744 ₹694$73.59M Loss 1.01 0.27× $1M -97.8% 0 ⚑ Technology
66 LeonaBio, Inc.LONA 21,700 ₹441$46.83M Loss 1.39 0.41× $1M -431.4% 0 — Healthcare
67 OnKure Therapeutics, Inc.OKUR 21,699 ₹986$104.48M Loss 0.61 0.04× $1M -46.9% 0 — Healthcare
68 Birchtech Corp.BCHT 21,689 ₹283$29.99M Loss 3.68 0.58× $0M -134.4% 0 — Industrials
69 Acrivon Therapeutics, Inc.ACRV 21,683 ₹711$75.42M Loss 0.87 0.13× $3M -64.6% 0 — Healthcare
70 SCYNEXIS, Inc.SCYX 21,677 ₹357$37.91M Loss 0.57 0.11× $2M -18.4% 0 — Healthcare
71 INVE Technologies, Inc.INVE 21,665 ₹624$66.16M Loss 0.50 0.05× $1M -10.9% 0 — Industrials
72 Context Therapeutics Inc.CNTX 21,647 ₹204$21.65M Loss 0.57 0.17× $0M -76.1% 0 ⚑ Healthcare
73 InspireMD, Inc.NSPR 21,623 ₹199$21.15M Loss 0.67 0.29× $3M -202.8% 0 ⚑ Healthcare
74 Canterbury Park Holding CorporationCPHC 21,594 ₹779$82.57M 531.0 0.98 0.28× $0M 0.1% 1.75% — Consumer Cyclical
75 NextCure, Inc.NXTC 21,573 ₹203$21.61M Loss 1.78 0.46× $5M -204.6% 0 — Healthcare
76 Barnwell Industries, Inc.BRN 21,537 ₹118$12.56M Loss 1.54 0.62× $0M -61.2% 0 ⚑ Energy
77 Resources Connection, Inc.RGP 21,531 ₹835$88.49M Loss 0.52 0.34× $23M -25.1% 11.52% — Industrials
78 Pliant Therapeutics, Inc.PLRX 21,492 ₹505$53.58M Loss 0.36 0.23× $29M -50.3% 0 — Healthcare
79 Cardiff Oncology, Inc.CRDF 21,467 ₹681$72.19M Loss 2.72 0.29× $1M -94.1% 0 — Healthcare
80 Xilio Therapeutics, Inc.XLO 21,383 ₹498$52.84M Loss 0.73 0.53× $7M -55.0% 0 — Healthcare
81 MediciNova, Inc.MNOV 21,366 ₹655$69.40M Loss 1.86 0.08× $0M -25.6% 0 — Healthcare
82 Sensus Healthcare, Inc.SRTS 21,280 ₹445$47.25M Loss 1.28 0.11× $0M -34.8% 0 ⚑ Healthcare
83 CEL-SCI CorporationCVM 21,273 ₹267$28.32M Loss 2.58 0.49× $9M -252.5% 0 — Healthcare
84 Zedge, Inc.ZDGE 21,264 ₹414$43.92M Loss 1.79 0.28× $0M -4.3% 2.88% — Communication Services
85 Airgain, Inc.AIRG 21,198 ₹480$50.96M Loss 1.74 0.37× $5M -23.7% 0 — Technology
86 Solitario Resources Corp.XPL 21,190 ₹420$44.50M Loss 1.75 0.03× $0M -18.3% 0 ⚑ Basic Materials
87 Sera Prognostics, Inc.SERA 21,171 ₹759$80.48M Loss 1.36 0.32× $2M -45.0% 0 — Healthcare
88 Biomea Fusion, Inc.BMEA 21,162 ₹399$42.30M Loss 3.48 0.67× $2M -164.1% 0 — Healthcare
89 Acorn Energy, Inc.ACFN 21,128 ₹423$44.92M 29.0 5.12 0.34× $1M 19.9% 0 — Technology
90 Zevia PBCZVIA 21,049 ₹830$88.01M Loss 1.99 0.48× $1M -26.5% 0 — Consumer Defensive
91 aTyr Pharma, Inc.ATYR 21,043 ₹157$16.67M Loss 0.34 0.30× $12M -98.7% 0 ⚑ Healthcare
92 Bionano Genomics, Inc.BNGO 21,032 ₹131$13.90M Loss 0.44 0.34× $7M -83.6% 0 — Healthcare
93 The Cato CorporationCATO 20,984 ₹436$46.20M Loss 0.28 0.60× $150M -3.3% 0 — Consumer Cyclical
94 Passage Bio, Inc.PASG 20,883 ₹106$11.29M Loss 2.53 0.82× $24M -169.1% 0 — Healthcare
95 Intelligent Protection Management Corp.IPM 20,876 ₹209$22.16M Loss 1.37 0.43× $1M -20.7% 0 — Technology
96 Laird Superfood, Inc.LSF 20,834 ₹292$31.00M Loss 2.81 0.92× $0M -4.1% 0 — Consumer Defensive
97 Modular Medical, Inc.MODD 20,779 ₹171$18.14M Loss 1.69 0.12× $0M -247.9% 0 ⚑ Healthcare
98 Network-1 Technologies, Inc.NTIP 20,637 ₹332$35.21M Loss 0.94 0.03× None -6.9% 6.33% — Industrials
99 Where Food Comes From, Inc.WFCF 20,631 ₹681$72.21M 51.8 8.18 0.35× $1M 15.4% 0 — Industrials
100 GrowGeneration Corp.GRWG 20,596 ₹795$84.26M Loss 0.94 0.34× $29M -17.1% 0 — Consumer Cyclical

Debt free in other groups · United States

All of United StatesLarge CapMid CapSmall CapS&P MidCap 400S&P SmallCap 600Nano CapMicro CapMini CapMeso CapTito Cap

Debt free in other countries

India

Questions

Which micro cap companies in the US have no debt?

The first five on PositoAI's list are Dogwood Therapeutics, Inc. (27,827), Tigo Energy, Inc. (26,077), Vyome Holdings, Inc. (25,696), Verde Clean Fuels, Inc. (25,250), Mexco Energy Corporation (24,917).

How many micro cap companies in the US report no debt?

152 of the 577 micro cap companies in the US on PositoAI report no debt (banks and lenders left out); this page shows the top 100.

How is this list made?

Companies whose latest annual balance sheet shows no borrowings, ordered by Positivity Score. Lease obligations (for offices, buildings and similar) are not counted as borrowing; they are shown in the Leases column. Banks and lenders are left out, because borrowing is part of their business. The list is updated every day from PositoAI's data.

What is a Micro Cap stock?

Micro Cap is one of PosiCap, PositoAI's own size classes: companies with a market value ₹100 Cr to ₹1,000 Cr (about $11M to $106M). It is not the SEBI or index definition.

Are lease obligations counted as debt on this list?

No. Many companies rent offices, buildings or equipment on long leases, and accounts show those payments as lease obligations. This list counts only borrowings, so a company with leases but no loans is debt free here. Each company's lease amount is shown in the Leases column.

Companies whose latest annual balance sheet shows no borrowings, ordered by Positivity Score. Lease obligations (for offices, buildings and similar) are not counted as borrowing; they are shown in the Leases column. Banks and lenders are left out, because borrowing is part of their business. Score is the Positivity Score; Owes vs Owns is everything a company owes compared with everything it owns (what each figure means); ⚑ marks an active red or yellow flag. All top lists for United States. PositoAI is for research and education only and is not investment advice.

Disclaimer — PositoAI is a research and screening tool for educational and informational purposes. It is not investment advice or a recommendation to buy or sell any security or mutual fund. Scores and rankings are calculated by PositoAI's own method using publicly available data, which may be incomplete, delayed or inaccurate, and past performance does not indicate future results. AI summaries of company news may contain errors. PositoAI is not registered with the SEC, SEBI or any other regulatory authority. Please do your own research or consult a licensed financial advisor before investing.