NASDAQ · Financial Statements

KalVista Pharmaceuticals (KALV) Financial Statements

$27.00 NASDAQ: KALV Market Cap $1.44B

KalVista Pharmaceuticals most recently reported annual revenue of $74.0M, a net loss of $164.0M. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

KalVista Pharmaceuticals: Revenue rose from $2.0M in 2017 to $74.0M in 2026, a change of +3600.0% over 9 years; net profit was positive in 0 of 10 reported years; operating margin moved from -1485.3% to -233.4%, a shift of +1251.9 percentage points; the most recent year shows a net loss of $164.0M.

Income Statement — 10 Years (USD millions)

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Revenue	$2.0M	$8.0M	$16.0M	$13.0M	$0	$0	$0	$0	$0	$74.0M
Operating Expenses	$24.0M	$27.0M	$46.0M	$53.0M	$58.0M	$97.0M	$111.0M	$140.0M	$188.0M	$245.0M
Operating Profit	$-22.0M	$-19.0M	$-30.0M	$-41.0M	$-58.0M	$-97.0M	$-111.0M	$-140.0M	$-188.0M	$-172.0M
Operating Margin	-1485.3%	-222.8%	-184.9%	-319.4%	0.0%	0.0%	0.0%	0.0%	0.0%	-233.4%
Other Income	$4.0M	$3.0M	$9.0M	$12.0M	$12.0M	$14.0M	$18.0M	$5.0M	$8.0M	$0
Interest	$0	$0	$0	$0	$0	$0	$0	$0	$6.0M	$19.0M
Depreciation	$0	$0	$0	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M
Profit Before Tax	$-19.0M	$-16.0M	$-21.0M	$-29.0M	$-46.0M	$-82.0M	$-93.0M	$-135.0M	$-180.0M	$-171.0M
Tax	$0	$0	$-600,000	$-430,000	$0	$0	$0	$6.3M	$-1.9M	$4.2M
Net Profit	$-19.0M	$-16.0M	$-21.0M	$-29.0M	$-46.0M	$-82.0M	$-93.0M	$-127.0M	$-183.0M	$-164.0M
EPS	$-1.92	$-1.53	$-1.38	$-1.64	$-2.33	$-3.36	$-3.33	$-3.44	$-3.69	$-3.23
Dividend Payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

Metric	Jun '23	Sep '23	Dec '23	Mar '24	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26
Revenue	$0	$0	$0	$0	$0	$0	$0	$0	$0	$14.0M	$41.0M	$60.0M
Operating Expenses	$32.0M	$29.0M	$30.0M	$33.0M	$48.0M	$44.0M	$46.0M	$43.0M	$55.0M	$60.0M	$64.0M	$71.0M
Operating Profit	$-32.0M	$-29.0M	$-30.0M	$-33.0M	$-48.0M	$-44.0M	$-46.0M	$-43.0M	$-55.0M	$-46.0M	$-23.0M	$-12.0M
Operating Margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-336.3%	-57.4%	-19.2%
Interest	$0	$0	$0	$0	$0	$0	$0	$3.0M	$3.0M	$5.0M	$6.0M	$9.0M
Profit Before Tax	$-26.0M	$-25.0M	$-28.0M	$-29.0M	$-45.0M	$-40.0M	$-42.0M	$-44.0M	$-53.0M	$-47.0M	$-23.0M	$-12.0M
Tax	$0	$0	$0	$0	$0	$0	$0	$-9.6M	$1.6M	$-4.6M	$0	$56.9M
Net Profit	$-26.0M	$-25.0M	$-28.0M	$-29.0M	$-45.0M	$-40.0M	$-42.0M	$-49.0M	$-52.0M	$-49.0M	$-23.0M	$-5.0M
EPS	$-1.17	$-0.74	$-0.80	$-0.84	$-1.02	$-0.87	$-0.91	$-0.92	$-1.05	$-0.92	$-1.08	$-0.11

Over the 10 years reported for KalVista Pharmaceuticals, cash stood at $229.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 5.61 times.

Balance Sheet — 10 Years (USD millions)

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Total Assets	$34.0M	$61.0M	$118.0M	$93.0M	$272.0M	$204.0M	$183.0M	$235.0M	$251.0M	$335.0M
Current Assets	$34.0M	$59.0M	$116.0M	$89.0M	$264.0M	$194.0M	$172.0M	$226.0M	$242.0M	$320.0M
Cash	$31.0M	$51.0M	$32.0M	$16.0M	$51.0M	$31.0M	$56.0M	$32.0M	$99.0M	$229.0M
Inventory	$0	$0	$0	$0	$0	$0	$0	$0	$0	$3.0M
Receivables	$3.0M	$7.0M	$11.0M	$17.0M	$12.0M	$17.0M	$19.0M	$11.0M	$15.0M	$11.0M
Fixed Assets	$0	$2.0M	$2.0M	$4.0M	$8.0M	$10.0M	$11.0M	$9.0M	$2.0M	$13.0M
Capital Work in Progress	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Investments	$0	$0	$69.0M	$52.0M	$198.0M	$135.0M	$93.0M	$179.0M	$89.0M	$71.0M
Other Assets	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$3.0M	$34.0M	$21.0M	$9.0M	$15.0M	$19.0M	$22.0M	$29.0M	$155.0M	$338.0M
Current Liabilities	$3.0M	$23.0M	$18.0M	$8.0M	$10.0M	$12.0M	$15.0M	$23.0M	$45.0M	$57.0M
Borrowings	$0	$0	$0	$2.0M	$6.0M	$8.0M	$8.0M	$7.0M	$6.0M	$152.0M
Other Liabilities	$3.0M	$34.0M	$21.0M	$7.0M	$9.0M	$11.0M	$14.0M	$22.0M	$149.0M	$187.0M
Equity	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Reserves	$31.0M	$27.0M	$97.0M	$84.0M	$257.0M	$185.0M	$161.0M	$207.0M	$95.0M	$-3.0M

For KalVista Pharmaceuticals, operating cash flow was positive in 1 of 10 reported years; free cash flow in the latest year was negative at $83.0M; free cash flow was positive in 1 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Operating Cash Flow	$-24.0M	$11.0M	$-36.0M	$-45.0M	$-30.0M	$-78.0M	$-75.0M	$-89.0M	$-153.0M	$-82.0M
Investing Cash Flow	$68.0M	$-4.0M	$-71.0M	$17.0M	$-148.0M	$57.0M	$40.0M	$-85.0M	$91.0M	$17.0M
Financing Cash Flow	$0	$0	$0	$0	$2.0M	$0	$2.0M	$54.0M	$0	$0
Net Cash Flow	$9.0M	$20.0M	$-19.0M	$-16.0M	$35.0M	$-20.0M	$26.0M	$-24.0M	$100.0M	$98.0M
Free Cash Flow	$-24.0M	$9.0M	$-37.0M	$-45.0M	$-30.0M	$-79.0M	$-76.0M	$-90.0M	$-153.0M	$-83.0M

Valuation & Return Ratios

Metric	Value
PEG Ratio	-79.28
EV / EBITDA	—
FCF Yield	-1.67%
Quick Ratio	5.52
Interest Coverage	-9.05
Return 1Y	—
Return 3Y	—
Return 5Y	—

KalVista Pharmaceuticals (KALV) financials — frequently asked questions

What is KalVista Pharmaceuticals's annual revenue?

KalVista Pharmaceuticals (KALV) reported annual revenue of $74.0M in its most recent fiscal year.

What is KalVista Pharmaceuticals's net profit?

KalVista Pharmaceuticals (KALV) reported a net loss of $164.0M in its most recent fiscal year.

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