KALA · Kala Pharmaceuticals, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $61.0K | - | $6.13M | $6.23M | $6.05M | - | $5.17M | $5.32M | $6.35M | - |
| SG&A | $1.74M | - | $4.53M | $4.64M | $4.59M | - | $4.95M | $4.96M | $5.42M | - |
| Total Operating Expenses | $1.80M | - | $7.24M | $11.03M | $10.67M | - | $9.99M | $9.61M | $11.93M | - |
| D&A | - | - | - | - | $68.0K | - | - | - | $66.0K | - |
| Operating Income | ($1.80M) | - | ($7.24M) | ($11.03M) | ($10.67M) | - | ($9.99M) | ($9.61M) | ($11.93M) | - |
| Interest Expense | - | - | $963.0K | $1.08M | $1.46M | - | $1.46M | $1.46M | $1.46M | - |
| Income Tax | - | - | - | - | - | - | - | - | - | - |
| Net Income | ($1.62M) | - | ($7.56M) | ($11.15M) | ($8.95M) | - | ($8.95M) | ($9.58M) | ($11.81M) | - |
| EPS - Basic | ($0.14) | - | ($53.50) | ($85.50) | ($70.50) | - | ($96.50) | ($158.00) | ($210.00) | - |
| EPS - Diluted | ($0.14) | - | ($53.50) | ($85.50) | ($210.00) | - | ($96.50) | ($158.00) | - | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.76M | $7.56M | $21.10M | $31.94M | $42.22M | $51.18M | $49.20M | $54.20M | $48.48M | $50.90M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $1.04M | $986.0K | $917.0K | $658.0K | $931.0K | $628.0K | $711.0K | $665.0K | $732.0K | $919.0K |
| Current Assets | $12.32M | $9.49M | $24.27M | $33.66M | $45.72M | $52.80M | $51.28M | $58.85M | $50.09M | $52.87M |
| Total Assets | $12.32M | $9.49M | $25.02M | $36.05M | $48.25M | $55.48M | $54.08M | $61.61M | $53.03M | $55.95M |
| Current Liabilities | $1.56M | $2.49M | $32.57M | $16.02M | $22.98M | $16.96M | $23.87M | $19.19M | $11.88M | $8.35M |
| Long-term Debt | - | - | $26.95M | $18.79M | $15.12M | $20.10M | $17.16M | $22.83M | $28.51M | $34.19M |
| Total Liabilities | $1.56M | $2.49M | $33.69M | $39.26M | $42.54M | $43.15M | $47.22M | $47.89M | $46.37M | $48.45M |
| Stockholders' Equity | $10.76M | $7.00M | ($8.66M) | ($3.21M) | $5.71M | $12.33M | $6.86M | $13.72M | $6.66M | $7.50M |
| Retained Earnings | ($696.52M) | ($694.90M) | ($695.59M) | ($688.02M) | ($676.87M) | ($667.92M) | ($659.75M) | ($650.79M) | ($641.22M) | ($629.41M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($2.90M) | - | - | ($16.56M) | ($8.82M) | - | - | - | ($10.84M) | - |
| Investing Cash Flow | ($7.00M) | - | - | - | - | - | - | - | ($13.0K) | - |
| Financing Cash Flow | $4.10M | - | - | - | ($135.0K) | - | - | - | $8.44M | - |
| CapEx | - | - | - | - | - | - | - | - | - | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - | - | - | - | - |
| EBITDA margin | - | - | - | - | - | - | - | - | - | - |
| Net margin | - | - | - | - | - | - | - | - | - | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | - | - |
| FCF / Net income | - | - | - | - | - | - | - | - | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -13.2% | - | -30.2% | -30.9% | -18.5% | - | -16.5% | -15.5% | -22.3% | - |
| Return on equity | -15.1% | - | 87.3% | 347.9% | -156.7% | - | -130.5% | -69.8% | -177.3% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 7.91 | 3.81 | 0.75 | 2.10 | 1.99 | 3.11 | 2.15 | 3.07 | 4.22 | 6.33 |
| Quick ratio | 7.91 | 3.81 | 0.75 | 2.10 | 1.99 | 3.11 | 2.15 | 3.07 | 4.22 | 6.33 |
| Cash ratio | 1.13 | 3.03 | 0.65 | 1.99 | 1.84 | 3.02 | 2.06 | 2.82 | 4.08 | 6.10 |
| Leverage | ||||||||||
| Debt / Equity | - | - | -3.11 | -5.86 | 2.65 | 1.63 | 2.50 | 1.66 | 4.28 | 4.56 |
| Debt / Assets | - | - | 1.08 | 0.52 | 0.31 | 0.36 | 0.32 | 0.37 | 0.54 | 0.61 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | -7.5x | -10.2x | -7.3x | - | -6.8x | -6.6x | -8.2x | - |
| Equity multiplier | 1.14 | 1.36 | -2.89 | -11.25 | 8.45 | 4.50 | 7.88 | 4.49 | 7.96 | 7.46 |
| Liabilities / Assets | 0.13 | 0.26 | 1.35 | 1.09 | 0.88 | 0.78 | 0.87 | 0.78 | 0.87 | 0.87 |
| Efficiency | ||||||||||
| Asset turnover | - | - | - | - | - | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 9.5x | - | - | - | 318.5x | - | 192.3x | 78.3x | 168.3x | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 83.1% | - | 27.5% | -14.8% | 10.6% | - | -14.0% | -0.1% | -2.1% | - |
| Net income growth (YoY) | 81.9% | - | 15.5% | -16.5% | 24.2% | - | -2.8% | 8.0% | 18.3% | - |
| EPS growth (YoY) | 99.9% | - | 44.6% | 45.9% | - | - | -2729.9% | -3523.9% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 88.5% | -43.3% | - | - | -14.3% | 64.3% | -38.9% | -21.6% | -71.6% | -60.5% |
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing Kala Pharmaceuticals against the 5 most active filers in the same SIC group.