Palvella Therapeutics, Inc (PVLA) Income Statement
PVLA 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsPVLA revenue and net income
PVLA profit margins
PVLA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
PVLA quarterly EPS vs estimates
Palvella Therapeutics beat the analyst EPS estimate in 1 of the last 7 quarters. Next report: November 10, 2026 (estimate $-1.63).
PVLA income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $25.9M | $31.4M | $29.3M | $46.3M | $29.1M | $25.3M | $5.8M |
| Cost of revenue | — | — | — | $2.8M | $2.4M | $0 | — | — | — | — |
| Gross profit | — | — | — | $23.1M | $29.1M | $29.3M | — | — | — | — |
| Research & development | $22.8M | $8.2M | $8.8M | $50.2M | $64.2M | $44.2M | $54.4M | $40.9M | $21.9M | $19.7M |
| Sales, general & admin | $15.8M | $5.9M | $3.1M | $16.4M | — | — | — | — | — | — |
| Total operating expenses | $38.6M | $14.1M | $11.9M | $66.6M | $80.9M | $61.1M | $72.4M | $59.4M | $39.5M | $28.2M |
| Operating income | −$38.6M | −$14.1M | −$11.9M | −$43.5M | −$51.8M | −$33.9M | −$27.2M | −$30.8M | −$14.6M | −$22.8M |
| Interest income | $2.6M | $642,000 | $6.3M | — | — | — | — | — | — | — |
| Interest expense | $5.8M | $4.3M | $0 | — | — | — | — | — | — | — |
| Income before taxes | −$41.7M | −$17.4M | $18.7M | −$33.3M | −$45.7M | −$37.1M | −$25.5M | −$27.1M | −$16.5M | −$22.6M |
| Income taxes | — | — | — | −$1.0M | — | $164,000 | — | −$312,000 | $1.1M | $161,970 |
| Net income | −$41.7M | −$17.4M | $18.7M | −$33.3M | −$45.7M | −$37.2M | −$25.5M | −$26.8M | −$17.6M | −$22.8M |
| EBITDA | −$35.9M | −$13.1M | $18.7M | −$30.5M | −$43.4M | −$34.9M | −$24.4M | −$26.5M | −$16.2M | −$22.3M |
| EPS (diluted) | −$3.71 | −$14.28 | −$22.81 | −$36.00 | −$56.80 | −$54.40 | −$44.00 | −$26.87 | −$31.76 | −$43.57 |
| Gross margin | — | — | — | 89.3% | 92.5% | 100.0% | — | — | — | — |
| Operating margin | — | — | — | −167.8% | −165.0% | −115.7% | −58.7% | −105.9% | −57.7% | −390.3% |
| Net margin | — | — | — | −128.5% | −145.6% | −127.0% | −55.0% | −91.9% | −69.8% | −391.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $53,000 | $1.3M | $19.5M |
| Cost of revenue | — | — | — | — | — | — | — | — | — | −$30,000 | $0 | $739,000 |
| Gross profit | — | — | — | — | — | — | — | — | — | $83,000 | $1.3M | $18.8M |
| Research & development | $12.5M | $9.3M | $7.1M | $6.5M | $5.1M | $4.1M | $2.5M | $3.2M | $1.4M | $984,000 | $4.5M | $9.6M |
| Sales, general & admin | $8.9M | $5.5M | $4.2M | $3.6M | $4.1M | $3.8M | $1.8M | $1.9M | $1.5M | $775,000 | — | — |
| Total operating expenses | $21.4M | $14.9M | $11.3M | $10.2M | $9.2M | $7.9M | $4.4M | $5.1M | $2.9M | $1.8M | $6.8M | $15.7M |
| Operating income | −$21.4M | −$14.9M | −$11.3M | −$10.2M | −$9.2M | −$7.9M | −$4.4M | −$5.1M | −$2.9M | −$1.8M | −$5.5M | $3.1M |
| Interest income | $2.0M | $1.1M | $520,000 | $628,000 | $690,000 | $752,000 | — | $187,000 | — | $86,000 | — | — |
| Interest expense | $2.3M | $2.0M | $1.7M | $1.5M | $1.4M | $1.2M | $1.3M | $1.2M | $1.1M | $805,000 | — | — |
| Income before taxes | −$21.9M | −$15.8M | −$12.7M | −$11.3M | −$9.5M | −$8.2M | −$4.0M | −$6.8M | −$4.2M | −$2.5M | −$4.6M | −$10.8M |
| Net income | −$21.9M | −$15.8M | −$12.7M | −$11.3M | −$9.5M | −$8.2M | −$4.0M | −$6.8M | −$4.2M | −$2.5M | −$4.6M | −$10.8M |
| EBITDA | −$21.6M | −$17.8M | −$11.0M | $342,000 | −$8.1M | −$7.0M | −$2.6M | −$1.7M | −$3.1M | −$1.7M | −$4.6M | −$10.0M |
| EPS (diluted) | −$1.52 | −$1.20 | −$1.08 | −$1.03 | −$0.86 | −$0.74 | −$5.37 | −$2.19 | −$2.76 | −$3.95 | −$3.71 | −$8.70 |
| Gross margin | — | — | — | — | — | — | — | — | — | 156.6% | 100.0% | 96.2% |
| Operating margin | — | — | — | — | — | — | — | — | — | −3,318.9% | −422.0% | 15.8% |
| Net margin | — | — | — | — | — | — | — | — | — | −4,784.9% | −352.9% | −55.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in PVLA's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
PVLA financial results
Palvella Therapeutics reported no revenue in fiscal year 2025 (ended December 31, 2025). It had a net loss of $41.7 million. Diluted earnings per share came to −$3.71.
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PVLA income statement FAQ
Does Palvella Therapeutics have revenue?
Palvella Therapeutics reported no revenue for fiscal year 2025, which ended on December 31, 2025.
Is Palvella Therapeutics profitable?
No. Palvella Therapeutics reported a net loss of $41.7 million in fiscal 2025.
How much does Palvella Therapeutics spend on research and development?
Palvella Therapeutics spent $22.8 million on research and development in fiscal 2025.
What are Palvella Therapeutics's earnings per share?
Palvella Therapeutics earned $-3.71 per diluted share in fiscal 2025, compared with $-14.28 a year earlier.
When will Palvella Therapeutics report its next earnings?
Palvella Therapeutics is expected to report results for the quarter ending September 30, 2026 on November 10, 2026.
When does Palvella Therapeutics's fiscal year end?
Palvella Therapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.