Kiora Pharma Financials
This page shows Kiora Pharma (KPHMW) 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).
A one-year operating rebound sits inside a broader pattern of R&D-funded cash burn supported by balance-sheet inflows.
The FY2024 cash-and-profit burst looks episodic because operating cash flow swung from$8.6M in FY2024 to-$10.0M in FY2025, a full reversal of the prior year's operating picture. Because cash still ended FY2025 at$8.7M while operating cash flow was-$10.0M , non-operating inflows rather than recurring business activity preserved liquidity.
A current ratio near 6.0x and cash of
R&D of
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Kiora Pharma's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Kiora Pharma carries a low D/E ratio of 0.50, meaning only $0.50 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 92/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 5.99, Kiora Pharma holds $5.99 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Kiora Pharma generates a -0.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 11/100. This is down from 0.0% the prior year.
Kiora Pharma passes 1 of 9 financial strength tests. No profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Kiora Pharma generates $919.35 in operating cash flow (-$10.0M OCF vs -$11K net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Kiora Pharma earns $-642.8 in operating income for every $1 of interest expense (-$12.8M vs $20K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Kiora Pharma generated $0 in revenue in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Kiora Pharma's EBITDA was -$12.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 382.7% from the prior year.
Kiora Pharma reported -$11K in net income in fiscal year 2025. This represents a decrease of 401.4% from the prior year.
Kiora Pharma earned $-2.64 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 403.4% from the prior year.
Cash & Balance Sheet
Kiora Pharma generated -$10.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 217.8% from the prior year.
Kiora Pharma held $8.7M in cash against $0 in long-term debt as of fiscal year 2025.
Kiora Pharma had 4M shares outstanding in fiscal year 2025. This represents an increase of 25.4% from the prior year.
Margins & Returns
Kiora Pharma's ROE was -0.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.1 percentage points from the prior year.
Capital Allocation
Kiora Pharma invested $10.8M in research and development in fiscal year 2025. This represents an increase of 37.5% from the prior year.
Kiora Pharma invested $111K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 1670.9% from the prior year.
KPHMW Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | $0 | $0 | $0 | N/A | $0-100.0% | $20K |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $2.1M | N/A | $2.7M+5.4% | $2.6M+2.3% | $2.5M | N/A | $2.2M+6.7% | $2.0M |
| SG&A Expenses | $1.6M | N/A | $1.4M+6.6% | $1.4M-9.1% | $1.5M | N/A | $1.4M-10.2% | $1.5M |
| Operating Income | -$2.5M | N/A | -$794K+66.8% | -$2.4M-2.8% | -$2.3M | N/A | -$3.6M-41.5% | -$2.5M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $0 | N/A | -$643K-473.9% | -$112K-191.1% | $123K | N/A | $0 | $0 |
| Net Income | -$2.4M | N/A | $27K+101.2% | -$2.2M+1.8% | -$2.2M | N/A | -$3.4M-53.6% | -$2.2M |
| EPS (Diluted) | $-0.58 | N/A | $0.01+101.9% | $-0.54-3.8% | $-0.52 | N/A | $-0.81-52.8% | $-0.53 |
KPHMW Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $21.2M-12.5% | $24.3M-18.8% | $29.9M-6.5% | $31.9M-6.1% | $34.0M-6.8% | $36.5M-5.3% | $38.5M-5.6% | $40.8M |
| Current Assets | $18.7M-14.1% | $21.7M-4.2% | $22.7M-8.3% | $24.7M-8.7% | $27.1M-8.7% | $29.7M-6.1% | $31.7M-0.6% | $31.8M |
| Cash & Equivalents | $11.0M+26.0% | $8.7M+57.9% | $5.5M+435.7% | $1.0M-72.7% | $3.8M-0.6% | $3.8M-32.7% | $5.6M-14.3% | $6.6M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $1.5M+1.4% | $1.5M+25.5% | $1.2M-49.8% | $2.4M+80.8% | $1.3M+122.5% | $601K-66.3% | $1.8M+33.0% | $1.3M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $7.3M-10.3% | $8.1M+9.0% | $7.5M-24.1% | $9.8M-4.9% | $10.3M-3.8% | $10.7M+26.5% | $8.5M+9.9% | $7.7M |
| Current Liabilities | $2.8M-22.9% | $3.6M+40.7% | $2.6M-19.0% | $3.2M-39.6% | $5.3M-12.2% | $6.0M+70.3% | $3.5M+113.0% | $1.7M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $13.9M-13.6% | $16.1M-28.0% | $22.4M+1.3% | $22.1M-6.6% | $23.7M-8.0% | $25.8M-14.2% | $30.0M-9.3% | $33.1M |
| Retained Earnings | -$156.6M-1.6% | -$154.2M-4.4% | -$147.7M0.0% | -$147.7M-1.5% | -$145.6M-1.5% | -$143.4M-3.0% | -$139.2M-2.5% | -$135.7M |
KPHMW Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.2M-45.0% | -$2.2M-71.3% | -$1.3M+66.5% | -$3.8M-40.6% | -$2.7M-20.1% | -$2.3M-344.8% | $920K+124.6% | -$3.7M |
| Capital Expenditures | $5K-93.6% | $78K+18035.3% | $431-98.7% | $32K | $0+100.0% | -$45K | $0 | N/A |
| Free Cash Flow | -$3.2M-40.2% | -$2.3M-77.4% | -$1.3M+66.8% | -$3.8M-41.8% | -$2.7M-17.7% | -$2.3M-349.7% | $920K | N/A |
| Investing Cash Flow | $5.4M+1.0% | $5.3M-6.8% | $5.7M+764.3% | $664K-75.2% | $2.7M+453.7% | $483K+125.1% | -$1.9M+91.0% | -$21.2M |
| Financing Cash Flow | -$842-384.5% | $296 | $0-100.0% | $265K | $0 | $0 | $0-100.0% | $251K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
KPHMW Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -12724.4% |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -11108.2% |
| Return on Equity | -17.3% | N/A | 0.1%+9.8pp | -9.7%-0.5pp | -9.3% | N/A | -11.4%-4.7pp | -6.7% |
| Return on Assets | -11.4% | N/A | 0.1%+6.8pp | -6.7%-0.3pp | -6.5% | N/A | -8.9%-3.4pp | -5.4% |
| Current Ratio | 6.68+0.7 | 5.99-2.8 | 8.79+1.0 | 7.76+2.6 | 5.14+0.2 | 4.94-4.0 | 8.97-10.2 | 19.22 |
| Debt-to-Equity | 0.52+0.0 | 0.50+0.2 | 0.33-0.1 | 0.440.0 | 0.44+0.0 | 0.42+0.1 | 0.28+0.0 | 0.23 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Frequently Asked Questions
What is Kiora Pharma's annual revenue?
Kiora Pharma (KPHMW) reported $0 in total revenue for fiscal year 2025. This represents a -100.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Kiora Pharma's revenue growing?
Kiora Pharma (KPHMW) revenue declined by 100% year-over-year, from $16.0M to $0 in fiscal year 2025.
Is Kiora Pharma profitable?
No, Kiora Pharma (KPHMW) reported a net income of -$11K in fiscal year 2025.
What is Kiora Pharma's EBITDA?
Kiora Pharma (KPHMW) had EBITDA of -$12.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Kiora Pharma's return on equity (ROE)?
Kiora Pharma (KPHMW) has a return on equity of -0.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Kiora Pharma's free cash flow?
Kiora Pharma (KPHMW) generated -$10.1M in free cash flow during fiscal year 2025. This represents a -217.8% 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 Kiora Pharma's operating cash flow?
Kiora Pharma (KPHMW) generated -$10.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Kiora Pharma's total assets?
Kiora Pharma (KPHMW) had $24.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Kiora Pharma's capital expenditures?
Kiora Pharma (KPHMW) invested $111K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Kiora Pharma spend on research and development?
Kiora Pharma (KPHMW) invested $10.8M in research and development during fiscal year 2025.
What is Kiora Pharma's current ratio?
Kiora Pharma (KPHMW) had a current ratio of 5.99 as of fiscal year 2025, which is generally considered healthy.
What is Kiora Pharma's debt-to-equity ratio?
Kiora Pharma (KPHMW) had a debt-to-equity ratio of 0.50 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Kiora Pharma's return on assets (ROA)?
Kiora Pharma (KPHMW) had a return on assets of -0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Kiora Pharma's cash runway?
Based on fiscal year 2025 data, Kiora Pharma (KPHMW) had $8.7M in cash against an annual operating cash burn of $10.0M. This gives an estimated cash runway of approximately 10 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Kiora Pharma's Piotroski F-Score?
Kiora Pharma (KPHMW) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. 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 Kiora Pharma's earnings high quality?
Kiora Pharma (KPHMW) has an earnings quality ratio of 919.35x, considered low quality (accrual-driven). 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 Kiora Pharma cover its interest payments?
Kiora Pharma (KPHMW) has an interest coverage ratio of -642.8x, meaning it can struggle to cover its interest obligations. 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.
How financially healthy is Kiora Pharma?
Kiora Pharma (KPHMW) scores 65 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.