Kaival Brands Innovations Group, Inc. (KAVL) Form 10-Q — Sep 14, 2026
Kaival Brands' fiscal Q3 2026 10-Q carries going-concern language: the company ended July 31, 2026 with only $133,221 in cash against a $265,407 working capital deficit and states it will not have sufficient cash to support operations for the next twelve months without raising additional capital. Revenue is now solely PMI royalties and is shrinking: Q3 royalty revenue was $55,254 versus $142,425 a year earlier, and nine-month revenue fell to $185,722 from $392,073, as U.S. Bidi Stick sales remain halted by FDA marketing denial orders and the R.J. Reynolds ITC matter that blocks imports until the patent expires in October 2026.
Key figures
- Eps
- -$0.02 (Q3); -$0.10 (nine months)
- Revenue
- Q3 FY2026: $55,254 (all royalty); nine months FY2026: $185,722
- Net Income
- -$243,868 (Q3); -$1,439,199 (nine months)
- Revenue Yoy
- Q3 down from $142,425; nine months down from $392,073, primarily due to lower royalty revenue
- Cash Position
- 133221
- Shares Outstanding
- 19535402
- Payable To Bidi
- 55000
- Royalty Revenue Q3
- 55254
- Option Exercise Price
- 0.0152
- Receivable From PMPSA
- 135254
- Options Granted March2026
- 7586060
- Credit Risk Reserve On Notes
- 94300
- Royalty Revenue Nine Months
- 185722
- Restricted Shares Issued Nine Months
- 6000000
AI analysis
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