KalVista Pharmaceuticals, Inc. :KALV-US: Earnings Analysis: Q4, 2017 By the Numbers : August 1, 2017

KalVista Pharmaceuticals, Inc. reports financial results for the quarter ended April 30, 2017.

Highlights

  • Summary numbers: Revenues of USD 0.11 million, Net Earnings of USD -4.20 million.
  • Change in operating cash flow of 59.00% compared to same period last year is about the same as change in earnings, likely no significant movement in accruals or reserves.
  • Earnings growth from operating margin improvements as well as one-time items.

The table below shows the preliminary results and recent trends for key metrics such as revenues and net income growth:

2017-04-30 2017-01-31 2015-12-31 2015-09-30 2015-06-30
Relevant Numbers (Quarterly)
Revenues (mil) 0.11 0.25 0.01 0.01 0.01
Revenue Growth (%YOY) 1528.57 3442.86 0 0 N/A
Earnings (mil) -4.2 -7.64 -5.66 -4.99 -9.01
Earnings Growth (%YOY) 53.37 -47.45 -20.05 N/A N/A
Net Margin (%) -3685.96 -3082.26 -70737.5 -71300 -128742.86
EPS -0.43 -1.03 -3.01 -2.66 -5.18
Return on Equity (%) -12.7 -18.17 -10.89 -8.76 -36.11
Return on Assets (%) -46.43 -64.48 -38.09 -30.79 -95.73

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Market Share Versus Profits

Revenues History
Earnings History

Compared to the same period last year, KALV-US‘s change in revenue was close to the amount of its change in earnings. It remains to be seen how the rest of its peer group’s results will turn out and if KALV-US‘s performance is a sign of any major shift in the composition of market share in this sector. Also, for comparison purposes, revenues changed by -54.03% and earnings by 45.03% compared to the previous period.

Cash Versus Earnings – Sustainable Performance?

It is important to examine a company�s cash versus earnings numbers to gauge whether its performance is sustainable.

KALV-US‘s year-on-year change in operating cash flow of 59.00% is around its change in earnings. This suggests that there are likely no significant movement in accruals or reserves for managing earnings this period.

Margins

The company’s earnings growth has also been influenced by the following factors: (1) Improvements in operating (EBIT) margins from -80,957.14% to -4,461.40% and (2) one-time items. The company’s pretax margins are now -3,685.96% compared to -128,742.86% for the same period last year.

EBIT Margin History
PreTax Margin History

Access our Ratings and Scores for KalVista Pharmaceuticals, Inc.

Company Profile

KalVista Pharmaceuticals, Inc. is a pharmaceutical company, which engages in the discovery, development, and commercialization of small molecule protease inhibitors. It offers small molecule plasma kallikrein for the treatment of hereditary angioedema; diabetic macular edema; and other plasma kallikrein-associated diseases. The company was founded by Crockett, T. Andrew, Edward P. Feener, and Lloyd P. Aiello and is headquartered in Cambridge, MA.

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