What is KalVista Pharmaceuticals, Inc.'s earnings per share (EPS)?

KalVista Pharmaceuticals, Inc. (KALV) reported diluted earnings per share of -$3.69 for fiscal year 2025. This represents a -7.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

KalVista Pharmaceuticals, Inc. (KALV) Financials

KALV

FY2025 annual

Net Income -$183.4M -44.9% YoY

EPS (Diluted) -$3.69 -7.3% YoY

Free Cash Flow -$153.3M -71.8% YoY

Operating Cash Flow -$152.9M -71.4% YoY

Source SEC Filings (10-K/10-Q) Latest period Q4 FY2026, ended Mar 31, 2026 Reported May 14, 2026 Currency USD FYE April

Newest figures come from the 10-Q for Q4 FY2026, filed May 14, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the KALV SEC filings page.

This page shows KalVista Pharmaceuticals, Inc. (KALV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI KALV FY2025 2026-10-04

KalVista’s development spending is accelerating losses, while 2025 financing increasingly supported a cash-consuming business.

Between FY2024 and FY2025, SG&A rose from $54M to $116M while R&D contracted, shifting spending toward administration and selling activities. That mix coincided with an operating loss reaching $188M and operating cash outflow reaching $153M, showing added overhead had not yet improved cash efficiency.

FY2024 revenue was $50M, while R&D exceeded it at $86M, showing the reported business was still funding development rather than operating at commercial scale. The resulting operating loss of $140M was larger than the free-cash-flow deficit of $89M, because non-cash and working-capital effects separated accounting loss from cash use.

FY2025 financing inflow was $160M, nearly matching operating cash outflow of $153M, so cash availability depended heavily on capital raised rather than operations. Reported cash and investments equaled 17.3 months of latest annual operating outflow, describing funding capacity without implying operating self-sufficiency.

Financial Health Signals

Financial health score pending refresh

We are recalculating KalVista Pharmaceuticals, Inc.'s peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

1/6

KalVista Pharmaceuticals, Inc. passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality No Cash Backing

N/A

KalVista Pharmaceuticals, Inc. reported a net loss of $183.4M while operations used $152.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

KalVista Pharmaceuticals, Inc. reported an operating loss of $188.0M against $5.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$40.9M

KalVista Pharmaceuticals, Inc. generated $40.9M in revenue in Q4 2026.

EBITDA

-$23.1M

YoY+53.3%

KalVista Pharmaceuticals, Inc.'s EBITDA was -$23.1M in Q4 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 53.3% from the same quarter a year earlier.

Net Income

-$23.5M

YoY+54.7%

KalVista Pharmaceuticals, Inc. reported -$23.5M in net income in Q4 2026. This represents an increase of 54.7% from the same quarter a year earlier.

EPS (Diluted)

-$0.43

YoY+56.1%

KalVista Pharmaceuticals, Inc. earned -$0.43 per diluted share (EPS) in Q4 2026. This represents an increase of 56.1% from the same quarter a year earlier.

Cash & Balance Sheet

Free Cash Flow

-$14.6M

YoY+69.5%

KalVista Pharmaceuticals, Inc. recorded an outflow of $14.6M in free cash flow in Q4 2026, representing a cash shortfall after capex. This represents an increase of 69.5% from the same quarter a year earlier.

Cash & Debt

$213.8M

YoY+62.4%

QoQ-6.8%

5Y CAGR+33.4%

10Y CAGR+16.0%

KalVista Pharmaceuticals, Inc. held $213.8M in cash against $172.2M in long-term debt as of Q4 2026.

Shares Outstanding

53M

YoY+6.6%

QoQ+3.9%

5Y CAGR+16.9%

10Y CAGR+7.3%

KalVista Pharmaceuticals, Inc. had 53M shares outstanding in Q4 2026. This represents an increase of 6.6% from the same quarter a year earlier. Against the prior quarter it is up 3.9%.

Dividends Per Share

Not reported for Q4 2026.

Margins & Returns

Gross Margin

92.4%

KalVista Pharmaceuticals, Inc.'s gross margin was 92.4% in Q4 2026, indicating the percentage of revenue retained after direct costs.

Operating Margin

-57.4%

KalVista Pharmaceuticals, Inc.'s operating margin was -57.4% in Q4 2026, reflecting core business profitability.

Net Margin

-57.5%

KalVista Pharmaceuticals, Inc.'s net profit margin was -57.5% in Q4 2026, showing the share of revenue converted to profit.

Return on Equity

Not reported for Q4 2026.

Capital Allocation

R&D Spending

$12.4M

YoY-12.4%

KalVista Pharmaceuticals, Inc. invested $12.4M in research and development in Q4 2026. This represents a decrease of 12.4% from the same quarter a year earlier.

Capital Expenditures

$121K

YoY-58.0%

KalVista Pharmaceuticals, Inc. invested $121K in capex in Q4 2026, funding long-term assets and infrastructure. This represents a decrease of 58.0% from the same quarter a year earlier.

Share Buybacks

Not reported for Q4 2026.

KALV Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

KALV quarterly income statement

Metric	FY2510-KT/A	FY2410-Q	FY2310-KT/A	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1410-K	FY1310-K
Revenue	N/A	$50.0M	N/A	N/A	N/A	$12.7M-21.3%	$16.1M+92.1%	$8.4M+458.1%	$1.5M-29.5%	$2.1M	N/A	N/A
R&D Expenses	$71.7M-16.8%	$86.2M+7.3%	$80.3M+14.4%	$70.2M+70.0%	$41.3M+2.7%	$40.2M+14.8%	$35.0M+92.0%	$18.2M+44.0%	$12.7M-21.8%	$16.2M	$8.3M+96.1%	$4.2M
SG&A Expenses	$116.3M+114.2%	$54.3M+77.4%	$30.6M+15.7%	$26.4M+59.0%	$16.6M+27.7%	$13.0M+19.2%	$10.9M+23.3%	$8.9M-20.7%	$11.2M+129.7%	$4.9M	$3.4M+143.4%	$1.4M
Operating Income	-$188.0M-33.9%	-$140.4M-26.7%	-$110.9M-14.8%	-$96.6M-66.8%	-$57.9M-42.9%	-$40.5M-35.9%	-$29.8M-59.4%	-$18.7M+16.3%	-$22.3M-6.2%	-$21.0M	-$11.7M-123.9%	-$5.2M
EBITDA	-$187.1M-34.0%	-$139.6M-26.8%	-$110.2M-14.7%	-$96.0M-67.4%	-$57.4M-43.4%	-$40.0M-35.9%	-$29.4M-58.9%	-$18.5M+16.9%	-$22.3M-6.7%	-$20.9M	-$11.6M-124.0%	-$5.2M
Interest Expense	$5.8M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1.2M	$1.1M+167.2%	$405K
Income Tax	$3.4M	$0	$0	$0	$0+100.0%	-$124K-200.0%	$124K	$0	$0	$0	$0	$0
Net Income	-$183.4M-44.9%	-$126.6M-36.3%	-$92.9M-12.8%	-$82.3M-78.1%	-$46.2M-58.8%	-$29.1M-39.9%	-$20.8M-31.7%	-$15.8M+15.0%	-$18.6M+25.1%	-$24.8M	-$13.4M-135.3%	-$5.7M
EPS (Basic)	-$3.69-7.3%	-$3.44-3.3%	-$3.33+0.9%	-$3.36-38.8%	-$2.42-47.6%	-$1.64	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	-$3.69-7.3%	-$3.44-3.3%	-$3.33+0.9%	-$3.36-38.8%	-$2.42-47.6%	-$1.64	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	50M+35.0%	37M+31.9%	28M+14.0%	24M+28.2%	19M+7.6%	18M	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q
Revenue	$40.9M	N/A	$13.7M	$1.4M	N/A	N/A	$0	$0
Cost of Revenue	$3.1M	N/A	$1.2M	N/A	N/A	N/A	N/A	N/A
Gross Profit	$37.8M	N/A	$12.5M	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$12.4M-12.4%	N/A	$12.0M-35.8%	$15.2M-43.0%	$14.2M	$12.6M-44.1%	$18.7M-2.1%	$26.6M+37.8%
SG&A Expenses	$48.8M+37.3%	N/A	$46.5M+87.6%	$44.7M+153.9%	$35.5M	$30.3M+185.5%	$24.8M+132.7%	$17.6M+79.9%
Operating Income	-$23.4M+52.8%	N/A	-$46.0M-5.9%	-$59.0M-33.5%	-$49.7M	-$42.9M-29.5%	-$43.5M-46.2%	-$44.2M-52.0%
EBITDA	-$23.1M+53.3%	N/A	N/A	-$58.8M-33.6%	-$49.5M	-$42.7M-29.6%	-$43.3M-46.4%	-$44.0M-52.2%
Interest Expense	$1.3M-55.7%	N/A	$4.8M	$3.5M	$2.9M	N/A	N/A	N/A
Income Tax	$0-100.0%	N/A	$2.2M	$2.2M	$4.2M	$4.2M	$0	$0
Net Income	-$23.5M+54.7%	N/A	-$49.5M-26.6%	-$57.6M-42.8%	-$51.8M-20.3%	-$48.5M-67.1%	-$39.1M-41.4%	-$40.3M-59.3%
EPS (Basic)	-$0.43+56.1%	N/A	-$0.92-9.5%	-$1.12-28.7%	-$0.98	-$0.92-9.5%	-$0.84-5.0%	-$0.87-17.6%
EPS (Diluted)	-$0.43+56.1%	N/A	-$0.92-9.5%	-$1.12-28.7%	-$0.98	-$0.92	-$0.84-5.0%	-$0.87-17.6%
Diluted Shares (Avg)	55M+2.9%	N/A	54M+15.7%	53M+15.7%	53M	53M	47M+34.8%	46M+34.3%

KALV Balance Sheet

KALV quarterly balance sheet

Metric	FY2510-KT/A	FY2410-Q	FY2310-KT/A	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1410-K	FY1310-K
Total Assets	$250.8M+6.5%	$235.4M+28.5%	$183.2M-10.1%	$203.9M-25.0%	$272.0M+194.0%	$92.5M-21.7%	$118.1M+92.4%	$61.4M+78.7%	$34.3M-30.9%	$49.7M	$6.6M	N/A
Current Assets	$241.7M+7.1%	$225.7M+31.0%	$172.3M-11.0%	$193.6M-26.7%	$264.3M+197.9%	$88.7M-23.2%	$115.5M+94.6%	$59.4M+73.6%	$34.2M-30.9%	$49.5M	$4.6M	N/A
Cash & Equivalents	$131.6M+314.0%	$31.8M-43.5%	$56.2M+83.0%	$30.7M-39.3%	$50.6M+220.4%	$15.8M-50.7%	$32.0M-37.3%	$51.1M+65.0%	$30.9M-36.1%	$48.5M	$3.9M-60.2%	$9.8M
Short-Term Investments	$89.0M-50.2%	$178.6M+91.8%	$93.1M-31.2%	$135.5M-31.7%	$198.3M+282.0%	$51.9M-24.5%	$68.8M	$0	$0	$0	$0	$0
Accounts Receivable	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$155.4M+439.1%	$28.8M+30.0%	$22.2M+18.0%	$18.8M+26.8%	$14.8M+68.9%	$8.8M-59.0%	$21.4M-37.3%	$34.1M+1031.1%	$3.0M-54.3%	$6.6M	$50.8M	N/A
Current Liabilities	$45.2M+98.0%	$22.8M+51.7%	$15.0M+29.9%	$11.6M+18.4%	$9.8M+26.6%	$7.7M-57.2%	$18.1M-22.2%	$23.2M+669.3%	$3.0M-21.7%	$3.9M	$7.1M	N/A
Non-Current Liabilities	$110.2M+1732.3%	$6.0M-15.8%	$7.1M-0.9%	$7.2M+42.9%	$5.0M+377.4%	$1.1M-68.4%	$3.3M-69.4%	$10.9M	$0-100.0%	$2.8M	$43.7M	N/A
Total Equity	$116.8M-46.3%	$217.6M+35.1%	$161.0M-13.0%	$185.1M-28.0%	$257.2M+207.1%	$83.8M-13.4%	$96.7M+255.0%	$27.3M-13.0%	$31.3M-27.3%	$43.1M	-$44.2M-31.1%	-$33.7M
Retained Earnings	-$653.2M-39.1%	-$469.7M-36.9%	-$343.1M-37.1%	-$250.2M-49.1%	-$167.8M-38.0%	-$121.6M-31.5%	-$92.5M-29.0%	-$71.7M-28.3%	-$55.9M+29.5%	-$79.2M	-$47.8M	N/A

Metric	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q
Total Assets	$328.9M+31.2%	$335.4M+13.8%	$339.9M+111.4%	$215.5M+7.6%	$250.8M+6.5%	$294.8M+158.7%	$160.8M+15.9%	$200.2M+24.9%
Current Assets	$314.2M+30.0%	$320.1M+11.9%	$325.2M+113.6%	$205.9M+7.4%	$241.7M+7.1%	$286.0M+174.7%	$152.3M+18.4%	$191.6M+27.9%
Cash & Equivalents	$213.8M+62.4%	$229.3M+25.8%	$243.5M+485.6%	$124.3M+290.3%	$131.6M+314.0%	$182.3M+690.8%	$41.6M-27.9%	$31.8M-35.5%
Short-Term Investments	$71.3M-19.9%	$70.9M-17.6%	$65.7M-30.3%	$67.2M-52.8%	$89.0M-50.2%	$86.0M+63.8%	$94.2M+107.0%	$142.4M+92.9%
Inventory	$4.0M	$3.4M	$458K	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	$5.8M	$1.9M	$0	$0	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$348.6M+124.3%	$338.1M+159.2%	$322.9M+2525.2%	$156.1M+709.8%	$155.4M+439.1%	$130.5M+710.4%	$12.3M-49.4%	$19.3M-8.2%
Current Liabilities	$60.8M+34.6%	$57.4M+119.6%	$45.1M	$38.4M	$45.2M+98.0%	$26.1M	N/A	N/A
Non-Current Liabilities	$287.8M+161.1%	$280.7M+166.7%	$277.9M+5843.6%	$136.3M+2633.4%	$110.2M+1732.3%	$105.3M+1582.1%	$4.7M-28.6%	$5.0M-27.3%
Long-Term Debt	$172.2M	$172.2M	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	-$19.7M-116.8%	-$2.7M-101.6%	$17.0M-88.6%	$59.4M-67.1%	$116.8M-46.3%	$164.4M+67.9%	$148.5M+29.8%	$180.9M+29.9%
Retained Earnings	-$786.2M-20.4%	-$762.7M-31.5%	-$739.1M-33.8%	-$713.3M-39.8%	-$653.2M-39.1%	-$580.2M-36.5%	-$552.4M-39.5%	-$510.2M-38.5%

Not reported in any period shown, so not listed: Goodwill.

KALV Cash Flow Statement

KALV quarterly cash flow statement

Metric	FY2510-KT/A	FY2410-Q	FY2310-KT/A	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1410-K	FY1310-K
Operating Cash Flow	-$152.9M-71.4%	-$89.2M-18.6%	-$75.3M+3.7%	-$78.1M-159.0%	-$30.2M+32.7%	-$44.8M-23.2%	-$36.4M-444.4%	$10.6M+144.5%	-$23.7M-80.3%	-$13.2M	-$11.3M-131.6%	-$4.9M
Depreciation & Amortization	$941K+15.3%	$816K+13.6%	$718K+27.3%	$564K+5.0%	$537K+4.9%	$512K+35.4%	$378K+110.0%	$180K+350.0%	$40K-69.9%	$133K	$54K+100.0%	$27K
Stock-Based Compensation	$12.3M-43.9%	$21.9M+120.9%	$9.9M-10.5%	$11.1M+55.7%	$7.1M+60.0%	$4.4M+50.0%	$3.0M+179.8%	$1.1M+169.0%	$394K-49.8%	$785K	$381K+60.1%	$238K
Capital Expenditures	$434K+933.3%	$42K-96.5%	$1.2M+28.5%	$931K+1035.4%	$82K-62.7%	$220K-79.6%	$1.1M-24.2%	$1.4M+1828.4%	$74K-88.8%	$659K	$159K+783.3%	$18K
Free Cash Flow	-$153.3M-71.8%	-$89.3M-16.8%	-$76.5M+3.3%	-$79.1M-161.3%	-$30.3M+32.8%	-$45.0M-20.3%	-$37.4M-510.1%	$9.1M+138.4%	-$23.8M-72.2%	-$13.8M	-$11.4M-134.0%	-$4.9M
Investing Cash Flow	$91.0M+207.4%	-$84.7M-304.6%	$41.4M-28.4%	$57.9M+139.2%	-$147.7M-981.4%	$16.8M+124.1%	-$69.4M-4764.9%	-$1.4M-104.2%	$34.1M+309781.8%	-$11K	N/A	N/A
Financing Cash Flow	$159.7M+6.0%	$150.7M+159.3%	$58.1M+3575.9%	$1.6M-99.3%	$212.1M+1731.1%	$11.6M-86.8%	$87.9M+878.7%	$9.0M+449200.0%	$2K-100.0%	$33.0M	N/A	N/A

Metric	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q
Operating Cash Flow	-$14.5M+69.6%	N/A	N/A	-$54.5M-35.5%	-$47.6M-214.9%	-$32.7M-18.5%	-$39.6M-100.0%	-$40.2M-50.5%
Depreciation & Amortization	$355K+41.4%	N/A	N/A	$252K+12.5%	$251K+14.6%	$229K+10.6%	$227K+15.2%	$224K+16.1%
Stock-Based Compensation	$5.1M+56.4%	N/A	N/A	$5.4M+76.9%	$3.2M	N/A	N/A	$3.0M-6.6%
Capital Expenditures	$121K-58.0%	N/A	N/A	$290K+1281.0%	$288K+1820.0%	$24K+26.3%	$108K+5300.0%	$21K+250.0%
Free Cash Flow	-$14.6M+69.5%	N/A	N/A	-$54.8M-36.2%	-$47.9M-216.5%	-$32.7M-18.5%	-$39.8M-100.5%	-$40.2M-50.5%
Investing Cash Flow	-$901K+75.8%	N/A	N/A	$21.3M-42.8%	-$3.7M+97.1%	$8.5M+227.1%	$48.7M+70.4%	$37.2M+89.5%
Financing Cash Flow	$1.5M-34.1%	N/A	N/A	$23.2M+673.7%	$2.2M-98.5%	$151.8M+53341.2%	$295K+130.5%	$3.0M+1370.6%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

KALV Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

KALV quarterly financial ratios

Metric	FY2510-KT/A	FY2410-Q	FY2310-KT/A	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1410-K	FY1310-K
Operating Margin	N/A	-280.9%	N/A	N/A	N/A	-319.4%	-184.9%	-222.8%	-1485.3%	-986.2%	N/A	N/A
Net Margin	N/A	-253.2%	N/A	N/A	N/A	-229.4%	-129.1%	-188.3%	-1236.9%	-1164.8%	N/A	N/A
Return on Equity	-157.1%-98.9pp	-58.2%-0.5pp	-57.7%-13.2pp	-44.5%-26.5pp	-18.0%+16.8pp	-34.8%-13.2pp	-21.5%+36.5pp	-58.0%+1.4pp	-59.4%-1.7pp	-57.7%	N/A	N/A
Return on Assets	-73.1%-19.4pp	-53.8%-3.1pp	-50.7%-10.3pp	-40.4%-23.4pp	-17.0%+14.5pp	-31.5%-13.8pp	-17.6%+8.1pp	-25.8%+28.4pp	-54.2%-4.1pp	-50.0%	-201.1%	N/A
Current Ratio	5.35-4.5x	9.90-1.6x	11.46-5.3x	16.73-10.3x	27.04+15.5x	11.49+5.1x	6.40+3.8x	2.56-8.8x	11.33-1.5x	12.83	0.65	N/A
Debt-to-Equity	1.33+1.2x	0.130.0x	0.140.0x	0.100.0x	0.060.0x	0.10-0.1x	0.22-1.0x	1.25+1.2x	0.10-0.1x	0.15	N/A	N/A
Asset Turnover	N/A	0.21	N/A	N/A	N/A	0.140.0x	0.140.0x	0.14+0.1x	0.040.0x	0.04	N/A	N/A
FCF Margin	N/A	-178.6%	N/A	N/A	N/A	-354.9%	-232.2%	108.8%	-1582.2%	-647.7%	N/A	N/A

Metric	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q
Gross Margin	92.4%	N/A	91.0%	N/A	N/A	N/A	N/A	N/A
Operating Margin	-57.4%	N/A	-336.1%	-4214.9%	N/A	N/A	N/A	N/A
Net Margin	-57.5%	N/A	-361.2%	-4114.0%	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	-291.1%-264.8pp	-96.9%-74.6pp	-44.4%-24.6pp	-29.5%+0.2pp	-26.3%-2.1pp	-22.3%-4.1pp
Return on Assets	-7.1%+13.5pp	N/A	-14.6%+9.7pp	-26.7%-6.6pp	-20.7%-2.4pp	-16.4%+9.0pp	-24.3%-4.4pp	-20.2%-4.4pp
Current Ratio	5.17-0.2x	5.58-5.4x	7.22	5.37	5.35-4.5x	10.95	N/A	N/A
Debt-to-Equity	N/A	N/A	19.00+18.9x	2.63+2.5x	1.33+1.2x	0.79+0.6x	0.08-0.1x	0.110.0x
Asset Turnover	0.12	N/A	0.040.0x	0.010.0x	N/A	N/A	0.00	0.00
FCF Margin	-35.7%	N/A	N/A	-3913.7%	N/A	N/A	N/A	N/A

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
KalVista Pharmaceuticals, Inc. KALV	FY2025	N/A	-$183.4M	N/A	$1.4B	—
GH Research PLC GHRS	FY2025	N/A	-$48.3M	N/A	$1.6B	—
ArriVent BioPharma, Inc. AVBP	FY2025	N/A	-$166.3M	N/A	$1.4B	—
Tango Therapeutics, Inc. TNGX	FY2025	$62.4M	-$101.6M	N/A	$3.9B	65/100
Gyre Therapeutics, Inc. GYRE	FY2025	$116.6M	$9.9M	8.5%	$753.9M	39/100
Mind Medicine (MindMed) Inc. MNMD	FY2025	N/A	-$183.8M	N/A	$1.5B	—

Where KalVista Pharmaceuticals, Inc. Ranks

Frequently Asked Questions

Is KalVista Pharmaceuticals, Inc. profitable?

No, KalVista Pharmaceuticals, Inc. (KALV) reported a net income of -$183.4M in fiscal year 2025.

What is KalVista Pharmaceuticals, Inc.'s EBITDA?

KalVista Pharmaceuticals, Inc. (KALV) had EBITDA of -$187.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is KalVista Pharmaceuticals, Inc.'s return on equity (ROE)?

KalVista Pharmaceuticals, Inc. (KALV) has a return on equity of -157.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is KalVista Pharmaceuticals, Inc.'s free cash flow?

KalVista Pharmaceuticals, Inc. (KALV) recorded an outflow of $153.3M in free cash flow during fiscal year 2025. This represents a -71.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is KalVista Pharmaceuticals, Inc.'s operating cash flow?

KalVista Pharmaceuticals, Inc. (KALV) recorded an outflow of $152.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are KalVista Pharmaceuticals, Inc.'s total assets?

KalVista Pharmaceuticals, Inc. (KALV) had $250.8M in total assets as of fiscal year 2025, including both current and long-term assets.

What are KalVista Pharmaceuticals, Inc.'s capital expenditures?

KalVista Pharmaceuticals, Inc. (KALV) invested $434K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does KalVista Pharmaceuticals, Inc. spend on research and development?

KalVista Pharmaceuticals, Inc. (KALV) invested $71.7M in research and development during fiscal year 2025.

How many shares does KalVista Pharmaceuticals, Inc. have outstanding?

KalVista Pharmaceuticals, Inc. (KALV) had 50M shares outstanding as of fiscal year 2025.

What is KalVista Pharmaceuticals, Inc.'s current ratio?

KalVista Pharmaceuticals, Inc. (KALV) had a current ratio of 5.35 as of fiscal year 2025, which is generally considered healthy.

What is KalVista Pharmaceuticals, Inc.'s debt-to-equity ratio?

KalVista Pharmaceuticals, Inc. (KALV) had a debt-to-equity ratio of 1.33 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is KalVista Pharmaceuticals, Inc.'s return on assets (ROA)?

KalVista Pharmaceuticals, Inc. (KALV) had a return on assets of -73.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

How does KalVista Pharmaceuticals, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, KalVista Pharmaceuticals, Inc. (KALV) held $220.6M in cash, cash equivalents and investments, and reported an operating cash outflow of $152.9M over that year. Dividing the one by the other, the reported balance equals about 17 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is KalVista Pharmaceuticals, Inc.'s Piotroski F-Score?

KalVista Pharmaceuticals, Inc. (KALV) has a Piotroski F-Score of 1 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are KalVista Pharmaceuticals, Inc.'s earnings high quality?

KalVista Pharmaceuticals, Inc. (KALV) reported a net loss of $183.4M while operations used $152.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can KalVista Pharmaceuticals, Inc. cover its interest payments?

KalVista Pharmaceuticals, Inc. (KALV) reported an operating loss of $188.0M against $5.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.