Kaival Brands Innovations (KAVL) Operating Expenses (2019 - 2026)
Kaival Brands Innovations' Operating Expenses came in at $314,422 for fiscal Q3 2026 (quarter ended Jul 31, 2026), down 55.1% from $700,944 a year earlier and down 48.6% from the prior quarter.
Kaival Brands Innovations (KAVL) Operating Expenses (2019 - 2026) Analysis & Trends
Over the trailing twelve months to Jul 31, 2026, Kaival Brands Innovations reported Operating Expenses of $11.75 million, up 32.3% year-over-year; for FY2025 (ended Oct 31, 2025), it was $17.12 million, up 106.0% from FY2024.
- Operating Expenses carries a five-year compound annual growth rate of 29.5% (FY2020 to FY2025).
- Going back by fiscal year, Operating Expenses was $8.31 million in FY2024 (-37.2%), $13.24 million in FY2023 (-15.3%), $15.63 million in FY2022 (-30.2%) and $22.4 million in FY2021 (+376.7%).
- The fiscal Q3 2026 figure represents the lowest quarterly Operating Expenses since fiscal Q1 2020.
- Year-over-year, Operating Expenses has declined for three consecutive quarters, with growth averaging 25.2% over the last eight quarters.
- The fastest year-over-year change in Operating Expenses over five years came in fiscal Q4 2025 (growth of 443.5%), and the weakest in fiscal Q1 2026 (a decline of 83.3%).
- Business Quant data shows KAVL's Operating Expenses at $612,074 (Q2 2026), $713,725 (Q1 2026) and $10.11 million (Q4 2025) in the three fiscal quarters before Q3 2026.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 310.95 Bn | 289.94 Bn | 7.85 Bn | - |
| 2 | British American Tobacco p.l.c | 137.57 Bn | 114.22 Bn | - | - |
| 3 | Altria | 124.10 Bn | 110.30 Bn | 3.82 Bn | 21.00 Mn |
| 4 | RLX Technology | 2.51 Bn | -1.24 Bn | 52.74 Mn | -33.52 Mn |
| 5 | Verano Holdings | 2.17 Bn | 1.84 Bn | 99.70 Mn | 96.56 Mn |
| 6 | Curaleaf Holdings | 2.09 Bn | 1.70 Bn | 169.91 Mn | 165.69 Mn |
| 7 | Trulieve Cannabis | 2.00 Bn | 614.45 Mn | 162.29 Mn | 532.81 Mn |
| 8 | Turning Point Brands | 1.28 Bn | 415.13 Mn | 93.70 Mn | 76.99 Mn |
| 9 | Cronos | 1.24 Bn | -1.98 Bn | 28.45 Mn | 21.05 Mn |
| 10 | Kaival Brands Innovations | 312,505.79 | -1.43 Mn | - | 314,422.00 |
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 314,422.00 |
| Apr 30, 2026 | 612,074.00 |
| Jan 31, 2026 | 713,725.00 |
| Oct 31, 2025 | 10.11 Mn |
| Jul 31, 2025 | 700,944.00 |
| Apr 30, 2025 | 2.04 Mn |
| Jan 31, 2025 | 4.28 Mn |
| Oct 31, 2024 | 1.86 Mn |
| Jul 31, 2024 | 1.79 Mn |
| Apr 30, 2024 | 1.76 Mn |
| Jan 31, 2024 | 2.91 Mn |
| Oct 31, 2023 | 2.90 Mn |
| Jul 31, 2023 | 2.95 Mn |
| Apr 30, 2023 | 3.84 Mn |
| Jan 31, 2023 | 3.55 Mn |
| Oct 31, 2022 | 3.83 Mn |
| Jul 31, 2022 | 4.30 Mn |
| Apr 30, 2022 | 5.41 Mn |
| Jan 31, 2022 | 2.09 Mn |
| Oct 31, 2021 | 4.31 Mn |
Kaival Brands Innovations Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=KAVL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "KAVL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=KAVL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();