PVLA Nasdaq Pharmaceutical Preparations Financials FY2016βFY2025
Palvella Therapeutics, Inc. had $2.6M of revenue in fiscal 2025, up 303.4% on the year before. Over five years, revenue changed β38.5% a year on average.
Last close Β· Oct 23, 2026
$125.10
1.0%Hi! I read Palvella Therapeutics, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+303.4%
Yes. Sales grew 303.4% last year.
Does it make a profit?
β1,610.6%
No. It lost money last year.
How healthy are the accounts?
2 / 7
Weak. It passes 2 of 7 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Palvella Therapeutics, Inc. had $2.6M of revenue in fiscal 2025, up 303.4% on the year before. Over five years, revenue changed β38.5% a year on average. Its operating margin was β1,490.4%, up 705.1Β pts: of every 100 in sales, about β1,490 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Palvella Therapeutics, Inc. lost $41.7M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders bought $0.8M and sold $13.8M of shares on the open market.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.8M
2 insiders
Sold, 12 months
$13.8M
3 insiders
Of sales under plans
100%
$13.8M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 21, 2026 | Kathleen GoinChief Operating Officer | Sold plan | 4,313 | $124.58 | $0.5M | Form 4 |
| Oct 14, 2026 | George M JenkinsDirector | Sold plan | 7,174 | $123.49 | $0.9M | Form 4 |
| Oct 13, 2026 | George M JenkinsDirector | Sold plan | 7,174 | $130.36 | $0.9M | Form 4 |
| Oct 12, 2026 | George M JenkinsDirector | Sold plan | 13,152 | $133.69 | $1.8M | Form 4 |
| Sep 16, 2026 | Kathleen GoinChief Operating Officer | Sold plan | 4,302 | $152.24 | $0.7M | Form 4 |
| Sep 15, 2026 | George M JenkinsDirector | Sold plan | 1,777 | $150.15 | $0.3M | Form 4 |
| Sep 14, 2026 | George M JenkinsDirector | Sold plan | 13,352 | $151.96 | $2.0M | Form 4 |
| Sep 11, 2026 | George M JenkinsDirector | Sold plan | 12,371 | $151.28 | $1.9M | Form 4 |
| Sep 2, 2026 | Christopher P KiritsyDirector | Sold | 313 | $157.00 | $0.0M | Form 4 |
| Aug 19, 2026 | Kathleen GoinChief Operating Officer | Sold plan | 4,302 | $152.21 | $0.7M | Form 4 |
| Jul 15, 2026 | Kathleen GoinChief Operating Officer | Sold plan | 4,302 | $149.28 | $0.6M | Form 4 |
| Jun 17, 2026 | Kathleen GoinChief Operating Officer | Sold plan | 4,302 | $110.73 | $0.5M | Form 4 |
| May 20, 2026 | Kathleen GoinChief Operating Officer | Sold plan | 4,302 | $110.56 | $0.5M | Form 4 |
| Apr 15, 2026 | Kathleen GoinChief Operating Officer | Sold plan | 4,302 | $127.24 | $0.5M | Form 4 |
| Mar 30, 2026 | George M JenkinsDirector | Bought | 445 | $112.30 | $0.0M | Form 4 |
| Mar 18, 2026 | Kathleen GoinChief Operating Officer | Sold plan | 4,302 | $117.99 | $0.5M | Form 4 |
| Feb 27, 2026 | Elaine J HeronDirector | Bought | 2,400 | $125.00 | $0.3M | Form 4 |
| Feb 27, 2026 | George M JenkinsDirector | Bought | 4,000 | $125.00 | $0.5M | Form 4 |
| Feb 18, 2026 | Kathleen GoinChief Operating Officer | Sold plan | 4,302 | $79.40 | $0.3M | Form 4 |
| Jan 21, 2026 | Kathleen GoinChief Operating Officer | Sold plan | 4,302 | $97.63 | $0.4M | Form 4 |
| Dec 17, 2025 | Kathleen GoinChief Operating Officer | Sold plan | 4,302 | $96.47 | $0.4M | Form 4 |
| Nov 19, 2025 | Kathleen GoinChief Operating Officer | Sold plan | 4,302 | $86.23 | $0.4M | Form 4 |
Can it carry its debts, and how well does it use its money?
Cash, debt and the ratios that show how comfortably Palvella Therapeutics, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $118M | $59.2M | $16.3M | $83.6M | $58.0M |
| Interest coverage | β | β | β | β32.8x | β |
| Current ratio | 2.5x | 2.0x | 3.2x | 7.3x | 5.2x |
| Quick ratio | 2.5x | 2.0x | 3.2x | 7.3x | 5.2x |
| Total assets | $154M | $95.5M | $7.5M | $88.2M | $59.6M |
| Total liabilities | $103M | $67.6M | $11.4M | $25.6M | $31.6M |
| Shareholders' equity | $50.8M | β$93.8M | β$74.5M | $62.6M | $28.0M |
| Net debt (β = net cash) | β | β | β | β | β |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Palvella Therapeutics, Inc. passes 2 of 7 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 4 / 7 | 2 / 7 | 4 / 7 | 0 / 7 | 2 / 7 | β / 6 | β / 6 | 2 / 7 | 2 / 7 |
| Accruals ratio | β24.0% | β97.0% | β21.0% | 19.1% | 7.0% | β29.5% | 21.4% | 62.9% | β13.8% | β22.6% |
| Altman Z'' | β6.67 | β1.81 | β0.39 | β0.63 | β4.95 | β3.92 | β11.90 | β45.86 | 3.69 | β5.59 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $5.8M | $25.3M | $29.1M | $46.3M | $29.3M | $31.4M | $25.9M | $42.8M | $0.6M | $2.6M |
| Net interest income | β | β | β | β | β | β | β | β | $0.6M | $2.6M |
| Research and development | $19.7M | $22.3M | $41.5M | $55.0M | $46.5M | $66.7M | $53.0M | $8.8M | $8.2M | $22.8M |
| Operating income | β$22.8M | β$14.6M | β$30.8M | β$27.2M | β$33.9M | β$51.8M | β$43.5M | β$11.9M | β$14.1M | β$38.6M |
| Interest expense | β | β | β | β | β | β | β | $0.0M | $0.4M | $0.0M |
| Pretax income | β$22.6M | β$16.5M | β$27.1M | β$25.5M | β$37.1M | β$45.7M | β$33.3M | $18.7M | β$17.4M | β$41.7M |
| Income tax | $0.2M | $1.1M | β$0.3M | $0.0M | $0.2M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | β$22.8M | β$17.6M | β$26.8M | β$25.5M | β$37.2M | β$45.7M | β$33.3M | $18.7M | β$17.4M | β$41.7M |
| Net income to common | β | β | β$26.8M | β$28.3M | β$37.2M | β | β | $17.9M | β$17.4M | β |
| Diluted EPS | β$0.55 | β$0.40 | β$0.50 | β$0.56 | β$0.68 | β$0.71 | β | $2.17 | β$7.83 | β$3.71 |
| Diluted shares | 0.04B | 0.04B | 0.05B | 0.05B | 0.05B | 0.06B | β | 0.00B | 0.00B | 0.01B |
| Cash flow | ||||||||||
| Cash from operations | β$14.4M | $49.8M | β$1.1M | β$52.5M | β$45.9M | β$7.7M | β$59.9M | β$13.7M | β$10.8M | β$25.0M |
| Capital expenditure | $0.6M | $2.0M | $1.7M | $2.5M | $2.7M | $0.9M | $1.0M | $0.2M | β | β |
| Free cash flow | β$14.9M | $47.8M | β$2.8M | β$54.9M | β$48.6M | β$8.6M | β$61.0M | β$13.9M | β | β |
| Depreciation and amortization | $0.4M | $0.4M | $0.6M | $0.6M | $2.1M | $2.5M | $2.8M | $1.9M | β | β |
| Stock-based compensation | $1.9M | $3.0M | $4.9M | $5.4M | $5.1M | $5.2M | $4.4M | $0.6M | $0.8M | $6.4M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $29.4M | $72.6M | $128M | $104M | $70.4M | $118M | $59.2M | $16.3M | $83.6M | $58.0M |
| Current assets | $32.7M | $89.8M | $135M | $115M | $75.7M | $128M | $73.4M | $7.5M | $88.2M | $59.0M |
| Current liabilities | $8.4M | $45.8M | $48.1M | $27.0M | $22.1M | $50.6M | $36.6M | $2.4M | $12.0M | $11.3M |
| Property and equipment, net | $2.3M | $4.0M | $5.0M | $19.5M | $22.0M | $19.1M | $17.0M | $0.0M | β | β |
| Total assets | $35.1M | $104M | $141M | $141M | $105M | $154M | $95.5M | $7.5M | $88.2M | $59.6M |
| Total liabilities | $9.8M | $92.4M | $101M | $89.7M | $74.0M | $103M | $67.6M | $11.4M | $25.6M | $31.6M |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $25.2M | $11.5M | $39.9M | $51.4M | $31.0M | $50.8M | β$93.8M | β$74.5M | $62.6M | $28.0M |
| Margins | ||||||||||
| Operating margin | β390.3% | β57.7% | β105.9% | β58.7% | β115.7% | β165.0% | β167.8% | β27.7% | β2,195.5% | β1,490.4% |
| EBITDA margin | β384.1% | β56.3% | β104.0% | β57.4% | β108.5% | β157.1% | β157.1% | β23.3% | β | β |
| Net margin | β391.0% | β69.8% | β91.9% | β55.0% | β127.0% | β145.6% | β128.5% | 43.7% | β2,715.6% | β1,610.6% |
| FCF margin | β256.4% | 189.1% | β9.5% | β118.7% | β165.8% | β27.4% | β235.4% | β32.4% | β | β |
| Net interest share of revenue | β | β | β | β | β | β | β | β | 100.0% | 100.0% |
| Returns | ||||||||||
| Return on capital employed | β85.3% | β25.1% | β33.1% | β23.8% | β40.9% | β50.3% | β73.8% | β228.8% | β18.5% | β80.1% |
| Return on equity | β90.4% | β96.0% | β104.0% | β55.8% | β90.4% | β111.9% | β | β | β | β92.1% |
| Return on assets | β65.0% | β25.4% | β21.8% | β18.0% | β30.3% | β35.4% | β26.7% | 36.3% | β36.4% | β56.5% |
| Return on tangible equity | β90.4% | β153.2% | β67.0% | β55.1% | β120.0% | β90.1% | β | β | β27.8% | β149.1% |
| Growth | ||||||||||
| Revenue growth | β | 333.5% | 15.1% | 59.0% | β36.6% | 7.1% | β17.6% | 65.3% | β98.5% | 303.4% |
| Net income growth | β | β | β | β | β | β | β | β | β193.3% | β |
| EPS growth | β | β | β | β | β | β | β | β | β460.8% | β |
| FCF growth | β | β | β105.8% | β | β | β | β | β | β | β |
| Share count change | β | 5.3% | 20.8% | β4.6% | 7.6% | 18.5% | β | β | 24.1% | 405.5% |
| Financial health | ||||||||||
| Interest coverage | β | β | β | β | β | β | β | β | β32.8x | β |
| Current ratio | 3.9x | 2.0x | 2.8x | 4.3x | 3.4x | 2.5x | 2.0x | 3.2x | 7.3x | 5.2x |
| Quick ratio | 3.9x | 2.0x | 2.8x | 4.3x | 3.4x | 2.5x | 2.0x | 3.2x | 7.3x | 5.2x |
| Capital allocation | ||||||||||
| Capex / revenue | 9.6% | 7.7% | 5.8% | 5.3% | 9.3% | 3.0% | 4.0% | 0.4% | β | β |
| Stock comp / revenue | 32.7% | 12.1% | 17.0% | 11.6% | 17.4% | 16.6% | 17.0% | 1.4% | 129.3% | 247.1% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 4.0 | 2.0 | 4.0 | 0.0 | 2.0 | β | β | 2.0 | 2.0 |
| Altman Z'' | β6.7 | β1.8 | β0.4 | β0.6 | β4.9 | β3.9 | β11.9 | β45.9 | 3.7 | β5.6 |
| Accruals ratio | β24.0% | β97.0% | β21.0% | 19.1% | 7.0% | β29.5% | 21.4% | 62.9% | β13.8% | β22.6% |
Source: SEC EDGAR XBRL filings (CIK 0001583648). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
