Palvella Therapeutics Inc Financials

PVLA

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

2/9

Palvella Therapeutics Inc passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.62x

For every $1 of reported earnings, Palvella Therapeutics Inc generates $0.62 in operating cash flow (-$10.8M OCF vs -$17.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-32.8x

Palvella Therapeutics Inc earns $-32.8 in operating income for every $1 of interest expense (-$14.1M vs $430K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Palvella Therapeutics Inc (PVLA) 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).

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Key Financial Metrics

Revenue

N/A

EBITDA

N/A

Free Cash Flow

N/A

Net Income

-$17.4M

YoY-193.1%

Palvella Therapeutics Inc reported -$17.4M in net income in fiscal year 2024. This represents a decrease of 193.1% from the prior year.

EPS (Diluted)

$-7.83

Palvella Therapeutics Inc earned $-7.83 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 460.8% from the prior year.

Cash & Debt

$83.6M

YoY+1037.4%

5Y CAGR+6.1%

10Y CAGR+16.3%

Palvella Therapeutics Inc held $83.6M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

11M

Palvella Therapeutics Inc had 11M shares outstanding in fiscal year 2024. This represents an increase of 522.1% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$8.2M

YoY-7.3%

5Y CAGR-31.7%

10Y CAGR+3.8%

Palvella Therapeutics Inc invested $8.2M in research and development in fiscal year 2024. This represents a decrease of 7.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

PVLA Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	$42.8M+65.3%	$25.9M-17.6%	$31.4M+7.1%	$29.3M-36.6%	$46.3M
Cost of Revenue	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
R&D Expenses	$8.2M-7.3%	$8.8M-83.4%	$53.0M-20.5%	$66.7M+43.3%	$46.5M-15.4%	$55.0M
SG&A Expenses	$5.9M+93.2%	$3.1M-81.2%	$16.4M-1.2%	$16.6M-0.7%	$16.7M-9.4%	$18.4M
Operating Income	-$14.1M-18.8%	-$11.9M+72.7%	-$43.5M+16.1%	-$51.8M-52.8%	-$33.9M-24.9%	-$27.2M
Interest Expense	$430K	$0	N/A	N/A	N/A	N/A
Income Tax	$0	$0	$0	$0-100.0%	$164K	$0
Net Income	-$17.4M-193.1%	$18.7M+156.2%	-$33.3M+27.2%	-$45.7M-22.9%	-$37.2M-46.2%	-$25.5M
EPS (Diluted)	$-7.83	$2.17	N/A	$-0.71-4.4%	$-0.68	N/A

Metric	Q3'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Revenue	N/A	$0	$0-100.0%	$53K-95.9%	$1.3M-93.3%	$19.5M-2.7%	$20.1M+935.9%	$1.9M
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	$6.5M+105.2%	$3.2M+120.7%	$1.4M+46.5%	$984K+103.4%	-$28.6M-397.6%	$9.6M-33.0%	$14.3M+6.7%	$13.4M
SG&A Expenses	$3.6M+94.1%	$1.9M+28.2%	$1.5M+89.2%	$775K+106.8%	-$11.4M-267.4%	$6.8M+86.7%	$3.7M-8.9%	$4.0M
Operating Income	-$10.2M-101.0%	-$5.1M-74.1%	-$2.9M-65.3%	-$1.8M-113.1%	$13.4M+213.4%	-$11.8M-672.3%	$2.1M+113.3%	-$15.5M
Interest Expense	$0-100.0%	$220K+658.6%	$29K-66.3%	$86K	N/A	N/A	N/A	N/A
Income Tax	$0	$0	$0	$0	N/A	N/A	N/A	N/A
Net Income	-$11.3M-67.5%	-$6.8M-62.4%	-$4.2M-64.5%	-$2.5M-106.6%	$38.6M+459.5%	-$10.8M-370.4%	$4.0M+130.2%	-$13.2M
EPS (Diluted)	$-1.03+73.9%	$-3.94	$-2.47	$-1.54	N/A	$-8.70-340.3%	$3.62	N/A

PVLA Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$88.2M+1069.0%	$7.5M-92.1%	$95.5M-37.8%	$153.6M+46.2%	$105.0M-25.6%	$141.1M
Current Assets	$88.2M+1069.0%	$7.5M-89.7%	$73.4M-42.5%	$127.6M+68.5%	$75.7M-34.2%	$115.0M
Cash & Equivalents	$83.6M+1037.4%	$7.3M-81.0%	$38.6M-67.2%	$117.8M+67.2%	$70.4M+13.1%	$62.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$358K	$0-100.0%	$5.8M+75.4%	$3.3M+94.2%	$1.7M-74.9%	$6.8M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$25.6M-68.8%	$82.0M-56.7%	$189.3M+84.1%	$102.8M+39.0%	$74.0M-17.6%	$89.7M
Current Liabilities	$12.0M+410.1%	$2.4M-93.5%	$36.6M-27.6%	$50.6M+128.3%	$22.1M-18.0%	$27.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$62.6M+184.1%	-$74.5M+20.6%	-$93.8M-284.8%	$50.8M+63.6%	$31.0M-39.6%	$51.4M
Retained Earnings	-$93.7M-22.8%	-$76.3M+73.7%	-$290.4M-12.9%	-$257.1M-21.6%	-$211.4M-21.4%	-$174.2M

Metric	Q3'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Total Assets	$66.9M-24.1%	$88.2M+252.2%	$25.1M-15.1%	$29.5M+290.8%	$7.5M-87.3%	$59.4M-32.2%	$87.5M+6.4%	$82.3M
Current Assets	$66.9M-24.1%	$88.2M	N/A	N/A	$7.5M-87.2%	$59.1M-11.1%	$66.5M+9.9%	$60.5M
Cash & Equivalents	$63.6M-24.0%	$83.6M+323.7%	$19.7M+3.4%	$19.1M+159.6%	$7.3M-77.7%	$32.9M-26.8%	$44.9M+13.1%	$39.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$0-100.0%	$358K-75.9%	$1.5M-19.4%	$1.8M	$0-100.0%	$1.0M+9.8%	$952K-9.8%	$1.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$28.3M+10.3%	$25.6M-75.8%	$105.9M-0.5%	$106.4M+29.7%	$82.0M+184.2%	$28.9M-38.6%	$47.0M-29.6%	$66.8M
Current Liabilities	$10.3M-14.3%	$12.0M+89.7%	$6.3M-15.8%	$7.5M+219.2%	$2.4M-91.8%	$28.9M-16.0%	$34.4M-19.8%	$42.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$38.7M-38.2%	$62.6M+177.5%	-$80.8M-5.1%	-$76.9M-3.2%	-$74.5M-344.1%	$30.5M-24.7%	$40.5M+162.0%	$15.5M
Retained Earnings	-$122.7M-30.9%	-$93.7M+71.0%	-$323.4M-1.1%	-$319.9M-319.2%	-$76.3M+75.4%	-$310.4M-3.6%	-$299.6M+1.3%	-$303.6M

PVLA Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$10.8M+21.2%	-$13.7M+77.1%	-$59.9M-682.4%	-$7.7M+83.3%	-$45.9M+12.5%	-$52.5M
Capital Expenditures	N/A	$171K-83.6%	$1.0M+9.7%	$949K-65.2%	$2.7M+10.7%	$2.5M
Free Cash Flow	N/A	-$13.9M+77.2%	-$61.0M-608.2%	-$8.6M+82.3%	-$48.6M+11.5%	-$54.9M
Investing Cash Flow	N/A	$12.0M+156.5%	-$21.2M-2137.7%	-$949K-102.4%	$39.2M+298.6%	$9.8M
Financing Cash Flow	$87.1M+1641.8%	$5.0M-30.7%	$7.2M-87.8%	$59.1M+484.5%	$10.1M-68.6%	$32.2M
Dividends Paid	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

Metric	Q3'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Operating Cash Flow	-$7.9M-47.2%	-$5.4M-233.9%	-$1.6M-45.5%	-$1.1M-105.4%	$20.4M+310.3%	-$9.7M+27.6%	-$13.4M-22.1%	-$11.0M
Capital Expenditures	N/A	$0	$0	$0+100.0%	-$13K-118.8%	$69K+3.0%	$67K+39.6%	$48K
Free Cash Flow	N/A	-$2.7M-71.1%	-$1.6M-45.5%	-$1.1M-105.4%	$20.4M+308.7%	-$9.8M+27.5%	-$13.5M-22.2%	-$11.0M
Investing Cash Flow	N/A	$142K-93.5%	$2.2M-75.8%	$9.0M+160.9%	$3.4M+273.8%	-$2.0M-45.2%	-$1.4M-111.5%	$11.9M
Financing Cash Flow	$242K-99.7%	$74.8M+656.0%	$9.9M	$0+100.0%	-$14.8M	$0-100.0%	$19.8M	$0
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

PVLA Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	-27.7%+140.1pp	-167.8%-2.9pp	-165.0%-49.3pp	-115.7%-57.0pp	-58.7%
Net Margin	N/A	43.7%+172.1pp	-128.5%+17.1pp	-145.6%-18.6pp	-127.0%-71.9pp	-55.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-19.7%-267.4pp	247.6%+282.5pp	-34.8%-5.1pp	-29.8%+5.7pp	-35.4%-17.4pp	-18.1%
Current Ratio	7.33+4.1	3.20+1.2	2.01-0.5	2.52-0.9	3.42-0.8	4.26
Debt-to-Equity	0.41+1.5	-1.10+0.9	-2.02-4.0	2.03-0.4	2.38+0.6	1.75
FCF Margin	N/A	-32.4%+203.0pp	-235.4%-208.0pp	-27.4%+138.4pp	-165.8%-47.1pp	-118.7%

Metric	Q3'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
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	-3318.9%-4349.3pp	1030.5%+1091.0pp	-60.5%-70.8pp	10.3%+811.5pp	-801.2%
Net Margin	N/A	N/A	N/A	-4784.9%-7760.3pp	2975.4%+3030.4pp	-55.1%-74.9pp	19.8%+700.8pp	-680.9%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	9.8%	N/A
Return on Assets	-17.0%+16.1pp	-33.0%-16.4pp	-16.7%-8.1pp	-8.6%-520.7pp	512.1%+530.2pp	-18.1%-22.7pp	4.5%+20.6pp	-16.0%
Current Ratio	6.49-0.8	7.33	N/A	N/A	3.20+1.2	2.05+0.1	1.93+0.5	1.41
Debt-to-Equity	0.73+0.3	0.41+1.7	-1.31+0.1	-1.38-0.3	-1.10-2.0	0.95-0.2	1.16-3.2	4.32
FCF Margin	N/A	N/A	N/A	-2079.3%-3652.3pp	1573.1%+1623.2pp	-50.2%+17.1pp	-67.3%+503.2pp	-570.5%

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Frequently Asked Questions

Is Palvella Therapeutics Inc profitable?

No, Palvella Therapeutics Inc (PVLA) reported a net income of -$17.4M in fiscal year 2024.

What is Palvella Therapeutics Inc's earnings per share (EPS)?

Palvella Therapeutics Inc (PVLA) reported diluted earnings per share of $-7.83 for fiscal year 2024. 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.

What is Palvella Therapeutics Inc's operating cash flow?

Palvella Therapeutics Inc (PVLA) generated -$10.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Palvella Therapeutics Inc's total assets?

Palvella Therapeutics Inc (PVLA) had $88.2M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does Palvella Therapeutics Inc spend on research and development?

Palvella Therapeutics Inc (PVLA) invested $8.2M in research and development during fiscal year 2024.

How many shares does Palvella Therapeutics Inc have outstanding?

Palvella Therapeutics Inc (PVLA) had 11M shares outstanding as of fiscal year 2024.

What is Palvella Therapeutics Inc's current ratio?

Palvella Therapeutics Inc (PVLA) had a current ratio of 7.33 as of fiscal year 2024, which is generally considered healthy.

What is Palvella Therapeutics Inc's debt-to-equity ratio?

Palvella Therapeutics Inc (PVLA) had a debt-to-equity ratio of 0.41 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Palvella Therapeutics Inc's return on assets (ROA)?

Palvella Therapeutics Inc (PVLA) had a return on assets of -19.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Palvella Therapeutics Inc's cash runway?

Based on fiscal year 2024 data, Palvella Therapeutics Inc (PVLA) had $83.6M in cash against an annual operating cash burn of $10.8M. This gives an estimated cash runway of approximately 93 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 Palvella Therapeutics Inc's Piotroski F-Score?

Palvella Therapeutics Inc (PVLA) has a Piotroski F-Score of 2 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Palvella Therapeutics Inc's earnings high quality?

Palvella Therapeutics Inc (PVLA) has an earnings quality ratio of 0.62x, 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 Palvella Therapeutics Inc cover its interest payments?

Palvella Therapeutics Inc (PVLA) has an interest coverage ratio of -32.8x, 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.