Palvella Therapeutics Inc Financials
This page shows Palvella Therapeutics Inc (PVLA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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).
Palvella’s current model is financing-driven drug development, where equity-funded cash reserves absorb operating losses rather than revenue.
The clearest operating tell is that FY2023’s reported profit of$18.7M never became operating self-funding, because the company still posted an operating loss and negative operating cash flow while FY2024 needed$87.1M of financing to rebuild the balance sheet. FY2025 then returned to a cash-consuming loss pattern, with net loss of$41.7M and operating cash burn of$25.0M , showing the earlier profit was not an operating turning point.
FY2025’s wider loss reflects a deliberate cost-base step-up rather than a revenue-backed scale story: R&D rose to
Liquidity and solvency are telling different stories: cash of
Financial Health Signals
Palvella Therapeutics Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Palvella Therapeutics 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).
Palvella Therapeutics Inc reported a net loss of $41.7M while operations used $25.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Palvella Therapeutics Inc reported -$41.7M in net income in fiscal year 2025. This represents a decrease of 139.3% from the prior year.
Palvella Therapeutics Inc earned -$3.71 per diluted share (EPS) in fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Palvella Therapeutics Inc held $58.0M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Palvella Therapeutics Inc's ROE was -149.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 121.2 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Palvella Therapeutics Inc invested $22.8M in research and development in fiscal year 2025. This represents an increase of 180.2% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
PVLA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | $42.8M+65.3% | $25.9M-17.6% | $31.4M+7.1% | $29.3M-36.6% | $46.3M+59.0% | $29.1M+15.1% | $25.3M+333.5% | $5.8M+98.9% | $2.9M-45.4% | $5.4M-56.8% | $12.4M |
| R&D Expenses | N/A | $22.8M+180.2% | $8.2M-7.3% | $8.8M-83.4% | $53.0M-20.5% | $66.7M+43.3% | $46.5M-15.4% | $55.0M+32.6% | $41.5M+86.2% | $22.3M+13.1% | $19.7M+138.9% | $8.2M+47.2% | $5.6M-40.5% | $9.4M |
| SG&A Expenses | N/A | $15.8M+165.2% | $5.9M+93.2% | $3.1M-81.2% | $16.4M-1.2% | $16.6M-0.7% | $16.7M-9.4% | $18.4M0.0% | $18.4M+4.9% | $17.6M+97.8% | $8.9M+6.2% | $8.4M+20.2% | $7.0M+182.9% | $2.5M |
| Operating Income | N/A | -$38.6M-173.9% | -$14.1M-18.8% | -$11.9M+72.7% | -$43.5M+16.1% | -$51.8M-52.8% | -$33.9M-24.9% | -$27.2M+11.9% | -$30.8M-111.3% | -$14.6M+35.9% | -$22.8M-66.4% | -$13.7M-90.1% | -$7.2M-1399.7% | $554K |
| Interest Expense | N/A | $0-100.0% | $430K | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $2.7M+437.5% | $494K |
| Income Tax | N/A | $0 | $0 | $0 | $0 | $0-100.0% | $164K | $0+100.0% | -$312K-128.3% | $1.1M+580.9% | $162K-20.5% | $204K+1132688.9% | -$18 | N/A |
| Net Income | N/A | -$41.7M-139.3% | -$17.4M-193.3% | $18.7M+156.2% | -$33.3M+27.2% | -$45.7M-22.9% | -$37.2M-46.2% | -$25.5M+4.8% | -$26.8M-51.6% | -$17.6M+22.6% | -$22.8M-62.2% | -$14.1M-42.7% | -$9.8M-14980.0% | $66K |
| EPS (Diluted) | — | -$3.71 | -$7.83 | $2.17 | N/A | -$0.71-4.4% | -$0.68 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
PVLA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $59.6M-32.5% | $88.2M+1069.0% | $7.5M-92.1% | $95.5M-37.8% | $153.6M+46.2% | $105.0M-25.6% | $141.1M-0.2% | $141.3M+36.1% | $103.9M+196.3% | $35.1M+3.3% | $34.0M+55.3% | $21.9M+200.4% | $7.3M |
| Current Assets | $59.0M-33.1% | $88.2M+1069.0% | $7.5M-89.7% | $73.4M-42.5% | $127.6M+68.5% | $75.7M-34.2% | $115.0M-15.0% | $135.4M+50.8% | $89.8M+174.8% | $32.7M+3.2% | $31.7M+59.9% | $19.8M+310.9% | $4.8M |
| Cash & Equivalents | $58.0M-30.6% | $83.6M+1037.4% | $7.3M-81.0% | $38.6M-67.2% | $117.8M+67.2% | $70.4M+13.1% | $62.3M-16.8% | $74.9M+97.7% | $37.9M+29.0% | $29.4M0.0% | $29.4M+58.9% | $18.5M+400.7% | $3.7M |
| Accounts Receivable | $0-100.0% | $358K | $0-100.0% | $5.8M+75.4% | $3.3M+94.2% | $1.7M-74.9% | $6.8M+151.3% | $2.7M-82.6% | $15.5M+27173.7% | $57K | $0 | $0-100.0% | $482K |
| Total Liabilities | $31.6M+23.2% | $25.6M-68.8% | $82.0M-56.7% | $189.3M+84.1% | $102.8M+39.0% | $74.0M-17.6% | $89.7M-11.5% | $101.4M+9.8% | $92.4M+838.9% | $9.8M+248.6% | $2.8M-26.7% | $3.9M-42.4% | $6.7M |
| Current Liabilities | $11.3M-5.8% | $12.0M+410.1% | $2.4M-93.5% | $36.6M-27.6% | $50.6M+128.3% | $22.1M-18.0% | $27.0M-43.8% | $48.1M+5.0% | $45.8M+446.2% | $8.4M+199.5% | $2.8M-20.5% | $3.5M+98.9% | $1.8M |
| Total Equity | $28.0M-55.3% | $62.6M+184.1% | -$74.5M+20.6% | -$93.8M-284.8% | $50.8M+63.6% | $31.0M-39.6% | $51.4M+28.6% | $39.9M+246.6% | $11.5M-54.3% | $25.2M-19.0% | $31.1M+72.9% | $18.0M+2978.0% | $585K |
| Retained Earnings | -$135.4M-44.5% | -$93.7M-22.8% | -$76.3M+73.7% | -$290.4M-12.9% | -$257.1M-21.6% | -$211.4M-21.4% | -$174.2M-18.4% | -$147.1M-22.2% | -$120.3M-17.2% | -$102.7M-28.5% | -$79.9M-21.4% | -$65.8M-17.6% | -$56.0M |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
PVLA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$36.5M | -$25.0M-130.7% | -$10.8M+20.9% | -$13.7M+77.1% | -$59.9M-682.4% | -$7.7M+83.3% | -$45.9M+12.5% | -$52.5M-4821.9% | -$1.1M-102.1% | $49.8M+445.8% | -$14.4M-13.2% | -$12.7M-84254.5% | -$15K+99.5% | -$3.1M |
| Capital Expenditures | N/A | N/A | N/A | $171K-83.6% | $1.0M+9.7% | $949K-65.2% | $2.7M+10.7% | $2.5M+45.0% | $1.7M-12.9% | $1.9M+248.2% | $560K-9.8% | $621K+132.1% | $267K+440.5% | $49K |
| Free Cash Flow | N/A | N/A | N/A | -$13.9M+77.2% | -$61.0M-608.2% | -$8.6M+82.3% | -$48.6M+11.5% | -$54.9M-1887.3% | -$2.8M-105.8% | $47.8M+419.8% | -$14.9M-12.2% | -$13.3M-4617.8% | -$282K+91.0% | -$3.1M |
| Investing Cash Flow | N/A | N/A | N/A | $12.0M+156.5% | -$21.2M-2137.7% | -$949K-102.4% | $39.2M+298.6% | $9.8M+210.9% | -$8.9M+80.7% | -$45.9M | N/A | N/A | N/A | N/A |
| Financing Cash Flow | $216.2M | -$660K-100.8% | $87.1M+1641.8% | $5.0M-30.7% | $7.2M-87.8% | $59.1M+484.5% | $10.1M-68.6% | $32.2M-33.7% | $48.5M+1086.1% | $4.1M | N/A | N/A | $21K | N/A |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
PVLA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | N/A | N/A | -27.7% | -167.8% | -165.0% | -115.7% | -58.7% | -105.9% | -57.7% | -390.3% | -466.6% | -134.2% | 4.5% |
| Net Margin | N/A | N/A | 43.7% | -128.5% | -145.6% | -127.0% | -55.0%+36.9pp | -91.9%-22.1pp | -69.8% | -391.0% | -479.5% | -183.6% | 0.5% |
| Return on Equity | -149.1%-121.2pp | -27.9% | N/A | N/A | -90.1%+29.9pp | -120.0%-70.4pp | -49.6%+17.4pp | -67.0%+86.2pp | -153.2%-62.8pp | -90.4%-45.2pp | -45.2%+9.5pp | -54.7%-66.0pp | 11.3% |
| Return on Assets | -70.0%-50.3pp | -19.8%-267.4pp | 247.6%+282.5pp | -34.8%-5.1pp | -29.8%+5.7pp | -35.4%-17.4pp | -18.1%+0.9pp | -18.9%-1.9pp | -17.0%+48.0pp | -65.0%-23.6pp | -41.4%+3.6pp | -45.1%-46.0pp | 0.9% |
| Current Ratio | 5.20-2.1x | 7.33+4.1x | 3.20+1.2x | 2.01-0.5x | 2.52-0.9x | 3.42-0.8x | 4.26+1.4x | 2.82+0.9x | 1.96-1.9x | 3.90-7.4x | 11.32+5.7x | 5.63+2.9x | 2.73 |
| Debt-to-Equity | 1.13+0.7x | 0.41 | N/A | N/A | 2.03-0.4x | 2.38+0.6x | 1.75-0.8x | 2.54-5.5x | 8.02+7.6x | 0.39+0.3x | 0.09-0.1x | 0.21-11.2x | 11.44 |
| FCF Margin | N/A | N/A | -32.4% | -235.4% | -27.4% | -165.8% | -118.7% | -9.5% | 189.1% | -256.3% | -454.5% | -5.3%+19.9pp | -25.1% |
Not reported in any period shown, so not listed: Gross Margin.
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.
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Where Palvella Therapeutics Inc Ranks
Frequently Asked Questions
Is Palvella Therapeutics Inc profitable?
No, Palvella Therapeutics Inc (PVLA) reported a net income of -$41.7M in fiscal year 2025.
What is Palvella Therapeutics Inc's return on equity (ROE)?
Palvella Therapeutics Inc (PVLA) has a return on equity of -149.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Palvella Therapeutics Inc's operating cash flow?
Palvella Therapeutics Inc (PVLA) recorded an outflow of $25.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Palvella Therapeutics Inc's total assets?
Palvella Therapeutics Inc (PVLA) had $59.6M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Palvella Therapeutics Inc spend on research and development?
Palvella Therapeutics Inc (PVLA) invested $22.8M in research and development during fiscal year 2025.
What is Palvella Therapeutics Inc's current ratio?
Palvella Therapeutics Inc (PVLA) had a current ratio of 5.20 as of fiscal year 2025, 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 1.13 as of fiscal year 2025, 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 -70.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Palvella Therapeutics Inc's cash runway?
Based on fiscal year 2025 data, Palvella Therapeutics Inc (PVLA) had $58.0M in cash against an annual operating cash burn of $25.0M. This gives an estimated cash runway of approximately 28 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 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 Palvella Therapeutics Inc's earnings high quality?
Palvella Therapeutics Inc (PVLA) reported a net loss of $41.7M while operations used $25.0M 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.