Company: KAVL
Filing Date: 2025-01-29
Form Type: NT 10-K
Source: 0001731122-25-000133
Chunk: 2

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-01-29
Form: NT 10-K
Chunk 2
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 year ended 2023. Revenues decreased in fiscal year ended 2024, primarily due to sales pressure
related to the MDO received in January 2024, which resulted to decrease in the number of sticks sold to customers. Gross profit in fiscal
year ended 2024 was approximately $2.6 million, compared to approximately $2.6 million for fiscal year ended 2023. Total cost of revenue
was approximately $4.3 million for fiscal year ended 2024, compared to approximately $10.5 million for fiscal year ended 2023. The slight
increase in gross profit volume is primarily driven by the decrease in cost of revenue.

<div align='center'>Kaival Brands Innovations Group, Inc.

__________________________________

(Name of Registrant as Specified in Charter)</div>

Has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.

| Date: | January 28, 2025 | Kaival Brands Innovations Group, Inc. 
 By :                                  | /s/ Mark Thoenes                |
|:------|:-----------------|:--------------------------------------|:--------------------------------|
|       |                  |                                       | Mark Thoenes                    |
|       |                  |                                       | Interim Chief Executive Officer |