| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-07-31 |
|---|---|---|---|---|
| Total revenues | 27,171 | NaN | 12,266 | NaN |
| Cost of revenue | 1,858 | NaN | NaN | NaN |
| Clinical development | -16,866 | NaN | NaN | NaN |
| Research | -24,479 | NaN | NaN | NaN |
| Regulatory & qa | -5,126 | NaN | NaN | NaN |
| Total operating expenses | NaN | NaN | 108,001 | NaN |
| Commercial | -37,707 | NaN | NaN | NaN |
| Operating loss | NaN | NaN | -95,735 | NaN |
| Other sg&a | -21,811 | NaN | NaN | NaN |
| Other (expense) income | -1,424 | NaN | 309 | NaN |
| Loss before income tax expense | NaN | NaN | -95,426 | NaN |
| Segment net loss | -23,487 | NaN | NaN | NaN |
| Income tax expense | NaN | NaN | 3,392 | NaN |
| Adjustments and reconciling items | 0 | NaN | NaN | NaN |
| Net loss | -23,487 | 49,390 | -98,818 | -60,096 |
| Depreciation and amortization | 355 | 102 | 615 | 252 |
| Stock-based compensation expense | 5,068 | -817 | 6,853 | 5,379 |
| Realized loss (gain) from sale of marketable securities | -11 | -525 | 1,165 | 587 |
| Non cash operating lease expense | NaN | 605 | -251 | 218 |
| Non-cash operating lease expense | 158 | NaN | NaN | NaN |
| Accretion of discount on marketable securities | -100 | -659 | 29 | -7 |
| Foreign currency exchange loss (gain) | -1,687 | -6,324 | 7,364 | -485 |
| Non-cash interest expense and amortization of issuance costs | 4,432 | 1,227 | 7,116 | 3,453 |
| Fair value adjustment to derivative liability | -1,605 | -2,120 | -206 | -1,100 |
| Impairment of right of use assets | NaN | 0 | 1,190 | NaN |
| Research and development tax credit receivable | 1,355 | 15,425 | -9,790 | -826 |
| Accounts receivable, net | 7,322 | -3,186 | 3,853 | 1,926 |
| Inventory | 665 | 2,971 | 457 | NaN |
| Prepaid expenses and other assets | 184 | -13,941 | 4,760 | -1,597 |
| Accounts payable | -149 | -1,902 | 3,583 | 2,510 |
| Accrued expenses | NaN | NaN | NaN | -8,199 |
| Accrued expenses and other liabilities | -5,220 | 326 | -4,154 | NaN |
| Deferred revenue | 10,711 | -10,608 | 10,758 | 493 |
| Net cash used in operating activities | -14,455 | 45,364 | -72,483 | -54,502 |
| Purchases of marketable securities | 16,428 | -20,988 | 85,793 | 19,979 |
| Sales and maturities of marketable securities | 15,730 | -22,525 | 86,212 | 41,677 |
| Acquisition of property and equipment | 121 | -156 | 1,573 | 290 |
| Disposal of property and equipment | NaN | NaN | 12 | NaN |
| Capitalized website development costs | 82 | -205 | 247 | 147 |
| Net cash used in investing activities | -901 | -1,188 | -1,389 | 21,261 |
| Proceeds from sale of convertible notes, net of offering costs | NaN | -389 | 139,438 | NaN |
| Proceeds from the royalty agreement | NaN | NaN | -662 | 21,921 |
| Proceeds from the royalty agreement, net of issuance costs | NaN | 21,670 | NaN | NaN |
| Issuance of common stock from equity incentive plans | 793 | -1,311 | 1,944 | 595 |
| Issuance of common stock from employee stock purchase plan | 672 | -460 | 460 | 694 |
| Net cash provided by financing activities | 1,465 | -1,749 | 141,180 | 23,210 |
| Effect of exchange rate changes | -1,683 | -5,873 | 1,319 | 2,723 |
| Net decrease in cash, cash equivalents and restricted cash | -15,574 | 36,554 | 68,627 | -7,308 |
| Cash, cash equivalents and restricted cash at beginning of the period | 230,145 | 244,297 | 182,978 | NaN |
| Cash, cash equivalents and restricted cash at end of the period | 214,571 | 230,145 | 244,297 | NaN |
| Less restricted cash in other assets | 803 | 803 | NaN | NaN |
| Cash and cash equivalents | 213,768 | 229,342 | NaN | NaN |
KalVista Pharmaceuticals, Inc. (KALV)
KalVista Pharmaceuticals, Inc. (KALV)