Kaival Brands Innovations Group, Inc. (KAVL)
Kaival Brands Innovations Group, Inc. operates as a distributor of electronic nicotine delivery systems (ENDS) and related components across the United States. The company's product line features the Bidi Stick, a disposable and tamper-proof ENDS device available in a variety of flavors, alongside the Bidi Pouch, a tobacco-free nicotine formulation made with natural fibers and a chew-base filler, also offered in diverse flavor options. These products are sold to non-retail customers directly through its website, bidivapor.com. The entity, which changed its name from Quick Start Holdings, Inc. to Kaival Brands Innovations Group, Inc. in July 2019, is headquartered in Grant-Valkaria, Florida, and functions as a subsidiary of Kaival Holdings, LLC.
Sector: Retail-Nonstore Retailers
Industry: Tobacco
Kaival Brands Innovations Group, Inc.
OTC:KAVLConsumer Defensive · Tobacco
-7.92%$0.0221
Mkt Cap$432K
Float5.62M
O/S19.54M
Inst Own-
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$47K
Net Income-$16.65M
Total Assets$669K
Free Cash Flow-$2.77M
Debt & Equity
Equity 99%
Preferred 1%
Total Debt$0
Total Equity$100K
Preferred Stock$900
Shares Outstanding
Short Interest
Split History2 splits · 2 reverse
- 1:21Reverse splitJan 25, 202421 shares → 1
- 1:12Reverse splitJul 20, 202112 shares → 1
Balance Sheet Details
Assets$669K
Liabilities$569K
Accounts Receivable$120K
Accounts Payable$349K
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 | 2020-10-31 | 2019-10-31 | 2018-10-31 |
| Revenue | $47K | $6.89M | $13.09M | $12.76M | $58.78M | $64.31M | $0 | $0 |
| YoY Growth | -99.3% | -47.4% | 2.6% | -78.3% | -8.6% | - | - | - |
| Cost of Revenue | -$438K | $4.28M | $10.51M | $11.52M | $46.84M | $54.26M | $0 | $0 |
| Gross Profit | $485K | $2.6M | $2.58M | $1.24M | $11.93M | $10.06M | $0 | $0 |
| Gross Margin | 1036.6% | 37.8% | 19.7% | 9.7% | 20.3% | 15.6% | - | - |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $7.29M | $8.31M | $13.24M | $15.63M | $22.4M | $4.7M | $69K | $4K |
| Other | $10.28M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $17.56M | $8.31M | $13.24M | $15.63M | $22.4M | $4.7M | $69K | $4K |
| Operating Income (EBIT) | -$17.08M | -$5.71M | -$10.66M | -$14.39M | -$10.47M | $5.36M | -$69K | -$4K |
| Operating Margin | -36526.0% | -82.9% | -81.5% | -112.8% | -17.8% | 8.3% | - | - |
| Interest Expense | $9K | $730K | $467K | $0 | $0 | $0 | $0 | $0 |
| Interest Income | $0 | $0 | $0 | $4 | $395 | $1K | $0 | $0 |
| Other Income (Expense) | $429K | -$970K | -$467K | $4 | $395 | $1K | $0 | $0 |
| Income Before Tax (EBT) | -$16.65M | -$6.68M | -$11.13M | -$14.39M | -$10.47M | $5.36M | -$69K | -$4K |
| Income Tax Expense | $19K | $20K | $2K | -$18K | -$1.44M | $1.51M | $0 | $0 |
| Net Income | -$16.65M | -$6.7M | -$11.13M | -$14.37M | -$9.03M | $3.85M | -$69K | -$4K |
| Net Income Margin | -35616.3% | -97.3% | -85.1% | -112.6% | -15.4% | 6.0% | - | - |
| Supplementary Data | ||||||||
| EPS | -1.51 | -1.62 | -4.13 | -7.60 | -7.90 | 1.88 | -0.03 | -0.00 |
| Diluted EPS | -1.51 | -1.62 | -4.13 | -7.60 | -7.90 | 1.88 | -0.03 | -0.00 |
| Weighted Average OS | 11.03M | 4.31M | 2.72M | 1.89M | 1.14M | 2.05M | 2.27M | 2.27M |
| EBITDA | -$15.85M | -$5.16M | -$10.34M | -$14.26M | $31 | $5.36M | $0 | $22K |
| EBITDA Margin | -33906.6% | -75.0% | -79.0% | -111.7% | 0.0% | 8.3% | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 | 2020-10-31 | 2019-10-31 | 2018-10-31 |
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and Cash Equivalents | $534K | $3.9M | $534K | $3.69M | $7.76M | $7.42M | $0 | $0 |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $534K | $3.9M | $534K | $3.69M | $7.76M | $7.42M | $0 | $0 |
| Accounts Receivable | $120K | $264K | $1.87M | $3.72M | $1.99M | $1.42M | $0 | $0 |
| Inventory | $0 | $0 | $4.07M | $1.24M | $15.33M | $6K | $0 | $0 |
| Other Current Assets | $0 | $0 | $0 | $0 | $4.74M | $0 | $0 | $0 |
| Total Current Assets | $669K | $4.51M | $6.91M | $9.07M | $30.13M | $8.85M | $0 | $0 |
| Long-Term Assets | ||||||||
| Property, Plant & Equipment Net | $0 | $812K | $1.01M | $1.2M | $56K | $70K | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $10.68M | $11.47M | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $2.16M | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Assets | $0 | $11.49M | $12.48M | $3.36M | $56K | $70K | $0 | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $669K | $16M | $19.39M | $12.44M | $30.19M | $8.92M | $0 | $0 |
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $349K | $57K | $2.85M | $40K | $12.91M | $1.41M | $0 | $0 |
| Short-Term Debt | $0 | $208K | $799K | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $1.33M | $1.33M | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $392K | $280K | $317K | $623K | $0 | $0 |
| Other Current Liabilities | $50K | $0 | $0 | $0 | $0 | $1.33M | $0 | $0 |
| Total Current Liabilities | $569K | $1.53M | $4.96M | $1.59M | $13.82M | $4.44M | $45K | $3K |
| Long-Term Liabilities | ||||||||
| Long-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $0 | $662K | $866K | $1.05M | $46K | $59K | $0 | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $569K | $2.19M | $5.83M | $2.64M | $13.87M | $4.5M | $45K | $3K |
| Stockholders' Equity | ||||||||
| Preferred Stock | $900 | $900 | $900 | $0 | $3K | $3K | $544K | $571K |
| Common Stock | $12K | $9K | $3K | $56K | $30K | $277K | $572K | $572K |
| Retained Earnings | -$54.09M | -$37.46M | -$30.76M | -$19.63M | -$5.26M | $3.77M | -$73K | -$4K |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | -$544K | -$571K |
| Other Stockholders' Equity | $54.18M | $51.27M | $44.32M | $29.38M | $21.55M | $368K | -$544K | -$571K |
| Total Equity | $100K | $13.82M | $13.56M | $9.8M | $16.32M | $4.42M | -$45K | -$3K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $669K | $16M | $19.39M | $12.44M | $30.19M | $8.92M | $0 | $0 |
| Supplementary Data | ||||||||
| Total Debt | $0 | $1.07M | $1.85M | $1.22M | $59K | $71K | $0 | $0 |
| Net Debt | -$534K | -$2.83M | $1.32M | -$2.47M | -$7.7M | -$7.35M | $0 | $0 |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 | 2021-10-31 | 2020-10-31 | 2019-10-31 | 2018-10-31 |
| Operating Activities | ||||||||
| Net Income | -$16.63M | -$6.7M | -$11.13M | -$14.37M | -$9.03M | $3.85M | -$69K | -$26K |
| Depreciation & Amortization | $787K | $787K | $328K | $133K | $10.47M | $4K | $69K | $26K |
| Deferred Income Tax | $0 | $0 | -$584K | $0 | $0 | -$4K | $0 | $0 |
| Stock-Based Compensation | $2.87M | $170K | $3.39M | $6.28M | $11.22M | $797K | $27K | $8K |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | $144K | $1.58M | $3.97M | $1.41M | -$568K | -$1.42M | $0 | $0 |
| Inventory | $0 | $4.01M | -$3.32M | $13.83M | -$15.32M | -$6K | $0 | $0 |
| Accounts Payable | $171K | -$1.38M | $2.81M | -$12.87M | $11.5M | $1.41M | $0 | $0 |
| Other Working Capital | -$142K | $123K | -$204K | $3.18M | -$7.13M | $2.97M | $42K | $18K |
| Total Working Capital Change | $172K | $4.33M | $3.26M | $1.99M | -$11.52M | $2.96M | $42K | $18K |
| Other Non-Cash Items | $10.02M | $744K | $1.77M | $260K | -$10.45M | $780 | -$42K | -$26K |
| Net Cash from Operating | -$2.77M | -$673K | -$2.97M | -$5.71M | -$9.31M | $7.6M | $27K | $0 |
| Investing Activities | ||||||||
| Capital Expenditures | $0 | $0 | -$3K | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | -$312K | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | $0 | $0 | -$316K | $0 | $0 | $0 | $0 | $0 |
| Financing Activities | ||||||||
| Debt Repaid | - | - | - | - | - | - | - | - |
| Common Stock Issuance | $24K | $6M | $0 | $1.63M | $8.31M | $0 | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | -$180K | $0 | $0 |
| Dividends Paid | $0 | -$270K | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | -$88K | $0 | -$60K | $1.41M | $0 | $0 | $0 |
| Net Cash from Financing | -$595K | $4.04M | $137K | $1.57M | $9.72M | -$180K | $0 | $0 |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$3.37M | $3.37M | -$3.15M | -$4.14M | $404K | $7.42M | $27K | $0 |
| Supplementary Data | ||||||||
| Operating Cash Flow | -$2.77M | -$673K | -$2.97M | -$5.71M | -$9.31M | $7.6M | $27K | $0 |
| Capital Expenditure | $0 | $0 | -$3K | $0 | $0 | -$3 | $0 | $0 |
| Free Cash Flow | -$2.77M | -$673K | -$2.98M | -$5.71M | -$9.31M | $7.6M | $27K | $0 |
| Cash at Beginning | $3.9M | $534K | $3.69M | $7.83M | $7.42M | $27K | $0 | $0 |
| Cash at End | $534K | $3.9M | $534K | $3.69M | $7.83M | $7.42M | $27K | $0 |