The company remains in a pre-revenue stage with operating losses expanding to $1.6 million in 2026Q1, driven by escalating R&D costs of $684,000.
| Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | - | - | - | - | - | - | - |
| Cost of Goods Sold | -80K | 0 | 160K | 160K | 160K | 98K | 0 |
| COGS % of Revenue | - | - | - | - | - | - | - |
| Gross Profit | 80K | 0 | -160K | -160K | -160K | -98K | 0 |
| Gross Margin % | - | - | - | - | - | - | - |
| Gross Profit Growth % | - | 100% | 0% | 0% | -63.27% | - | - |
| Operating Expenses | 6.15M | 5.57M | 2.18M | 1.55M | 411K | 1.84M | 1.05M |
| OpEx % of Revenue | - | - | - | - | - | - | - |
| Selling, General & Admin | 3.55M | 3.44M | 1.77M | 1.47M | 324K | 1.66M | 1.03M |
| SG&A % of Revenue | - | - | - | - | - | - | - |
| Research & Development | 2.33M | 2.13M | 414K | 82K | 87K | 183K | 20K |
| R&D % of Revenue | - | - | - | - | - | - | - |
| Other Operating Expenses | 275K | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -6.07M | -5.57M | -2.34M | -1.71M | -571K | -1.94M | -1.05M |
| Operating Margin % | - | - | - | - | - | - | - |
| Operating Income Growth % | - | -137.81% | -36.7% | -200.18% | 70.61% | -85.77% | - |
| EBITDA | -5.91M | -5.41M | -2.18M | -1.55M | -411K | -1.84M | -1.05M |
| EBITDA Margin % | - | - | - | - | - | - | - |
| EBITDA Growth % | -87.23% | -147.92% | -40.48% | -278.1% | 77.72% | -76.4% | - |
| D&A (Non-Cash Add-back) | 160K | 160K | 160K | 160K | 160K | 98K | 0 |
| EBIT | -5.8M | -5.45M | -1.74M | -1.71M | -571K | -1.94M | -1.05M |
| Net Interest Income | 157K | 125K | -859K | -98K | -479K | -202K | -5.41K |
| Interest Income | 157K | 125K | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 859K | 98K | 479K | 202K | 5.41K |
| Other Income/Expense | 232K | 125K | -260K | -98K | -479K | -202K | -5.41K |
| Pretax Income | -5.84M | -5.45M | -2.6M | -1.81M | -1.05M | -2.15M | -1.05M |
| Pretax Margin % | - | - | - | - | - | - | - |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -5.84M | -5.45M | -2.6M | -1.81M | -1.05M | -2.15M | -1.05M |
| Net Margin % | - | - | - | - | - | - | - |
| Net Income Growth % | -64.85% | -109.26% | -43.65% | -72.57% | 51.05% | -104.02% | - |
| Net Income (Continuing) | -5.84M | -5.45M | -2.6M | -1.81M | -1.05M | -2.15M | -1.05M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.28 | -0.30 | -0.23 | -0.17 | -0.10 | -0.17 | -0.09 |
| EPS Growth % | -12.27% | -30.43% | -35.29% | -70% | 41.18% | -81.43% | - |
| EPS (Basic) | - | -0.30 | -0.23 | -0.17 | -0.10 | -0.17 | -0.09 |
| Diluted Shares Outstanding | 21.01M | 18.43M | 11.36M | 10.38M | 10.24M | 12.84M | 11.22M |
| Basic Shares Outstanding | 21.01M | 18.43M | 11.36M | 10.38M | 10.24M | 12.84M | 11.22M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Imminent liquidity and dilution risk
As indicated by the company's recent financial disclosures, quarterly R&D expenditures have climbed to $684,000 in 2026Q1, reflecting a significant intensification of clinical trial activity that continues to outpace the firm's ability to generate any form of top-line revenue or sustainable operational cost offsets.
The upward trend in R&D spending suggests that the company is accelerating its clinical development timeline, likely in an attempt to reach critical data milestones before exhausting its limited capital. Investors should monitor whether this increased spending translates into tangible clinical progress, as the current trajectory of rising SG&A costs alongside R&D suggests a lack of operational discipline that could further compress the remaining cash runway.
Based on reported income statements, KAPA exhibits a complete lack of operating leverage, with quarterly operating losses widening to $1.6 million as of 2026Q1, a direct consequence of the firm's pre-revenue status and the necessity of funding high-cost clinical development through external capital.
The absence of revenue means that every dollar spent on R&D and administrative overhead flows directly to the bottom line as a loss, leaving no room for operational scaling. This structure implies that the company will remain highly sensitive to capital market conditions until a licensing deal or commercial partnership can be established to provide non-dilutive funding.
According to the provided financial data, the company's net income remains consistently negative, with 2026Q1 net losses reaching $1.7 million, highlighting that reported EPS figures are currently driven by persistent cash burn rather than any underlying operational profitability or recurring business performance.
The presence of non-zero stock-based compensation in 2025Q1 suggests that the company is utilizing equity-based incentives to manage cash outflows, which may lead to future shareholder dilution. Analysts should be wary of interpreting these losses as purely operational, as they reflect the high-risk nature of a clinical-stage entity that has yet to prove the efficacy of its lead assets.
As reported in recent filings, the company's cash position of approximately $4.49 million appears insufficient to support long-term clinical trials, suggesting that the firm faces a high probability of significant equity dilution or a potential liquidity crisis if clinical milestones are not met in the near term.
Short-sellers would likely focus on the widening gap between the company's cash burn rate and its limited liquidity, which creates a precarious environment for existing shareholders. The reliance on external financing to sustain operations means that any delay in trial enrollment or regulatory feedback could force the company into unfavorable capital raises, further eroding the value of current equity stakes.
Quick answers to the most common questions about buying KAPA stock.
For fiscal year 2025, Kairos Pharma, Ltd. (KAPA) reported total revenue of $0.0M.
Kairos Pharma, Ltd. (KAPA) reported a net loss of $5.4M for the fiscal year ending 2025.