PVLA net incomeQ3 2026-$24.64M
PVLA net income was -$24.64M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$11.35M a year earlier. For the full fiscal 2025 it was -$41.72M, compared with -$17.43M in fiscal 2024.
Palvella Therapeutics Inc. (PVLA) financials
For the twelve months ended Sep 30, 2026, Palvella Therapeutics Inc. reported -$74.99M of net income.
- Net income, TTM
- -$74.99M
- EPS, diluted, TTM
- -$5.50
- Cash
- $193.30M
- Market cap
- $2.54B
FY2016FY2023
FY2016FY2025
FY2016FY2023
PVLA revenue and earnings growth
PVLA EPSQ3 2026-$1.70
PVLA diluted EPS was -$1.70 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$1.03 a year earlier. For the full fiscal 2025 it was -$3.71.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | $42.81M | $25.90M | $31.42M | $29.32M | $46.28M | $29.10M | $25.27M | $5.83M |
| Research and development | $22.84M | $8.15M | $8.79M | $52.98M | $66.66M | $46.53M | $55.00M | $41.49M | $22.29M | $19.70M |
| Selling, general and admin | $15.76M | $5.94M | $3.08M | $16.39M | $16.59M | $16.71M | $18.44M | $18.44M | $17.58M | $8.89M |
| Operating income | -$38.60M | -$14.10M | -$11.87M | -$43.47M | -$51.83M | -$33.92M | -$27.16M | -$30.83M | -$14.59M | -$22.76M |
| Pre-tax income | -$41.72M | -$17.43M | $18.69M | -$33.28M | -$45.74M | -$37.07M | -$25.47M | -$27.07M | -$16.54M | -$22.64M |
| Income tax | $0 | $0 | $0 | $0 | $0 | $164.0K | $0 | -$312.0K | $1.10M | $162.0K |
| Net income | -$41.72M | -$17.43M | $18.69M | -$33.28M | -$45.74M | -$37.23M | -$25.47M | -$26.75M | -$17.65M | -$22.80M |
| EPS, basic | -$3.71 | -$7.83 | $2.19 | -$36.00 | -$56.80 | -$54.40 | -$44.80 | -$40.00 | -$32.00 | -$44.00 |
| EPS, diluted | -$3.71 | -$7.83 | $2.17 | - | -$56.80 | -$54.40 | -$44.80 | -$40.00 | -$32.00 | -$44.00 |
| Diluted shares | 11.3M | 2.2M | 1.8M | - | 806,837.5 | 681,012.5 | 632,812.5 | 663,512.5 | 549,137.5 | 521,412.5 |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $57.98M | $83.60M | $7.35M | $38.63M | $117.76M | $70.44M | $62.26M | $74.87M | $37.88M | $29.36M |
| Short-term investments | $0 | - | $8.97M | $20.53M | $0 | $0 | $41.89M | $53.24M | $34.75M | $0 |
| Receivables | $0 | $358.0K | $0 | $5.81M | $3.31M | $1.71M | $6.79M | $2.70M | $15.55M | $57.0K |
| Current assets | $58.99M | $88.23M | $7.55M | $73.42M | $127.63M | $75.72M | $115.01M | $135.38M | $89.79M | $32.67M |
| Total assets | $59.56M | $88.23M | $7.55M | $95.49M | $153.56M | $105.01M | $141.10M | $141.34M | $103.88M | $35.06M |
| Current liabilities | $11.34M | $12.04M | $2.36M | $36.58M | $50.56M | $22.14M | $27.00M | $48.08M | $45.77M | $8.38M |
| Total liabilities | $31.58M | $25.63M | $11.43M | $67.56M | $102.81M | $73.98M | $89.75M | $101.41M | $92.35M | $9.84M |
| Shareholders' equity | $27.98M | $62.61M | -$74.48M | -$93.78M | $50.76M | $31.03M | $51.35M | $39.94M | $11.52M | $25.23M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$25.01M | -$10.84M | -$13.70M | -$59.93M | -$7.66M | -$45.90M | -$52.47M | -$1.07M | $49.75M | -$14.39M |
| Capital expenditures | - | - | $171.0K | $1.04M | $949.0K | $2.73M | $2.46M | $1.70M | $1.95M | $560.0K |
| Free cash flow | - | - | -$13.87M | -$60.97M | -$8.61M | -$48.62M | -$54.93M | -$2.76M | $47.80M | -$14.95M |
| Investing cash flow | - | - | $12.00M | -$21.24M | -$949.0K | $39.21M | $9.84M | -$8.88M | -$45.88M | -$560.0K |
| Financing cash flow | -$660.0K | $87.09M | $5.00M | $7.21M | $59.13M | $10.12M | $32.17M | $48.51M | $4.09M | $15.22M |
| Stock-based compensation | $6.40M | $830.0K | $603.0K | $4.40M | $5.21M | $5.09M | $5.37M | $4.94M | $3.05M | $1.91M |
| Depreciation and amortization | - | - | $1.90M | $2.77M | $2.46M | - | - | - | - | - |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | - | - | 65.3% | -17.6% | 7.1% | -36.6% | 59.0% | 15.1% | 333.5% | 98.9% |
| Operating margin | - | - | -27.7% | -167.8% | -165.0% | -115.7% | -58.7% | -105.9% | -57.7% | -390.3% |
| Net margin | - | - | 43.7% | -128.5% | -145.6% | -127.0% | -55.0% | -91.9% | -69.8% | -391.0% |
| Free cash flow margin | - | - | -32.4% | -235.4% | -27.4% | -165.8% | -118.7% | -9.5% | 189.1% | -256.4% |
| Return on equity | -149.1% | -27.8% | - | - | -90.1% | -120.0% | -49.6% | -67.0% | -153.2% | -90.4% |
| Return on assets | -70.0% | -19.8% | 247.6% | -34.8% | -29.8% | -35.5% | -18.1% | -18.9% | -17.0% | -65.0% |
| Current ratio | 5.20 | 7.33 | 3.20 | 2.01 | 2.52 | 3.42 | 4.26 | 2.82 | 1.96 | 3.90 |
Income statement
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | $0 | $0 | $53.0K | $1.30M |
| Research and development | $10.82M | $12.47M | $9.33M | $7.12M | $6.53M | $5.12M | $4.07M | $2.54M | $3.18M | $1.44M | $984.0K | -$28.55M |
| Selling, general and admin | $11.90M | $8.93M | $5.52M | $4.18M | $3.65M | $4.13M | $3.80M | $1.82M | $1.88M | $1.47M | $775.0K | -$11.45M |
| Operating income | -$22.73M | -$21.41M | -$14.86M | -$11.30M | -$10.18M | -$9.25M | -$7.87M | -$4.37M | -$5.06M | -$2.91M | -$1.76M | $13.39M |
| Pre-tax income | -$24.64M | -$21.87M | -$15.77M | -$12.71M | -$11.35M | -$9.47M | -$8.19M | -$3.95M | -$6.78M | -$4.17M | -$2.54M | - |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | - |
| Net income | -$24.64M | -$21.87M | -$15.77M | -$12.71M | -$11.35M | -$9.47M | -$8.19M | -$3.95M | -$6.78M | -$4.17M | -$2.54M | $38.65M |
| EPS, basic | -$1.70 | -$1.52 | -$1.20 | -$1.08 | -$1.03 | -$0.86 | -$0.74 | - | -$3.94 | -$2.47 | -$1.54 | - |
| EPS, diluted | -$1.70 | -$1.52 | -$1.20 | -$1.08 | -$1.03 | -$0.86 | -$0.74 | - | -$3.94 | -$2.47 | -$1.54 | - |
| Diluted shares | 14.5M | 14.4M | 13.1M | - | 11.1M | 11.1M | 11.0M | - | 1.8M | 1.8M | 1.8M | - |
Balance sheet
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $193.30M | $187.80M | $206.39M | $57.98M | $63.57M | $70.43M | $75.63M | $83.60M | $19.36M | $19.73M | $19.08M | $7.35M |
| Short-term investments | $43.38M | $62.78M | $55.46M | $0 | - | - | - | - | $0 | $0 | $0 | $8.97M |
| Receivables | - | - | - | $0 | $0 | $0 | $0 | $358.0K | $373.0K | $1.49M | $1.84M | $0 |
| Current assets | $238.97M | $253.03M | $263.23M | $58.99M | $66.94M | $73.75M | $79.44M | $88.23M | - | - | - | $7.55M |
| Total assets | $239.40M | $253.51M | $263.76M | $59.56M | $66.94M | $73.75M | $79.44M | $88.23M | $20.52M | $25.05M | $29.50M | $7.55M |
| Current liabilities | $14.93M | $11.95M | $9.12M | $11.34M | $10.31M | $9.62M | $8.98M | $12.04M | $4.25M | $6.35M | $7.53M | $2.36M |
| Total liabilities | $41.48M | $36.64M | $31.45M | $31.58M | $28.25M | $25.97M | $23.86M | $25.63M | - | - | - | $11.43M |
| Shareholders' equity | $197.92M | $216.87M | $232.31M | $27.98M | $38.68M | $47.78M | $55.58M | $62.61M | -$87.40M | -$80.83M | -$76.87M | -$74.48M |
Cash flow
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$14.43M | -$12.85M | -$10.86M | -$4.93M | -$7.88M | -$5.43M | -$6.77M | -$5.39M | -$2.74M | -$1.60M | -$1.10M | $20.45M |
| Capital expenditures | - | - | - | - | - | - | - | - | $0 | $0 | $0 | -$13.0K |
| Free cash flow | - | - | - | - | - | - | - | - | -$2.74M | -$1.60M | -$1.10M | $20.43M |
| Investing cash flow | $19.57M | -$7.03M | -$55.44M | - | $0 | $0 | $0 | - | $142.0K | $2.18M | $9.00M | $3.45M |
| Financing cash flow | $452.0K | $1.28M | $214.73M | -$49.0K | $242.0K | $349.0K | -$1.20M | $74.78M | $2.41M | $9.89M | $0 | -$14.78M |
| Stock-based compensation | $5.42M | $5.16M | $3.38M | $2.08M | $1.79M | $1.43M | $1.09M | $268.0K | $199.0K | $217.0K | $146.0K | -$2.29M |
| Depreciation and amortization | - | - | - | - | - | - | - | - | $0 | $0 | -$30.0K | -$198.0K |
Key ratios
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | - | - | - | - | - | - | - | - | -100.0% | -100.0% | -97.4% | -77.8% |
| Operating margin | - | - | - | - | - | - | - | - | - | - | -3318.9% | 1030.5% |
| Net margin | - | - | - | - | - | - | - | - | - | - | -4784.9% | 2975.4% |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - | -2079.2% | 1573.1% |
| Current ratio | 16.01 | 21.18 | 28.88 | 5.20 | 6.49 | 7.67 | 8.84 | 7.33 | - | - | - | 3.20 |
Source: XBRL data Palvella Therapeutics Inc. files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures and share counts are restated for stock splits the filings show: 1-for-80, first reported Aug 14, 2024.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
PVLA peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| PVLA | - | - | -$74.99M | - | $2.54B |
| LLY | $86.46B | +45.5% | $27.58B | 31.9% | $1.33T |
| JNJ | $99.33B | +7.8% | $16.09B | 16.2% | $679.13B |
| ABBV | $66.01B | +10.7% | $10.34B | 15.7% | $518.44B |
| MRK | $67.38B | +4.9% | $2.45B | 3.6% | $366.73B |
| NVS | $54.53B | +8.4% | $13.98B | 25.6% | $312.35B |
| AZN | $58.74B | +8.6% | $10.22B | 17.4% | $293.69B |
| ABT | $48.23B | +10.0% | $4.70B | 9.7% | $191.40B |
| NVO | DKK 309.06B | +6.4% | DKK 102.43B | 33.1% | $183.23B |
PVLA FAQ
5 questionsIs PVLA profitable?
No. Palvella Therapeutics Inc. reported a net loss of $74.99M for the twelve months ended Sep 30, 2026.How much cash and debt does PVLA have?
Palvella Therapeutics Inc. reported $193.30M in cash and cash equivalents on its most recent balance sheet in SEC filings.What is PVLA earnings per share?
Diluted earnings per share were -$5.50 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.When did PVLA last report financial results?
The latest statements here come from Palvella Therapeutics Inc.'s 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.Where does this PVLA financial data come from?
Quantisnow builds these statements from the structured XBRL data Palvella Therapeutics Inc. files with the SEC. It is provided for information only and is not investment advice.