Velan Inc. Reports Solid Performance in the Third Quarter of Fiscal 2026

MONTREAL, Jan. 14, 2026 (GLOBE NEWSWIRE) — Velan Inc. (TSX: VLN) (“Velan” or the “Company”), a world-leading manufacturer of industrial valves, announced today financial results for its third quarter ended November 30, 2025. All amounts are expressed in U.S. dollars unless indicated otherwise.

THIRD-QUARTER HIGHLIGHTS FROM CONTINUING OPERATIONS

IFRS MEASURES

• Sales of $71.7 million, versus $73.4 million last year.
• Gross profit of $27.2 million, or 37.9% of sales, compared to $28.3 million, or 38.6% of sales, last year.
• Operating income of $5.9 million, compared to an operating loss of $62.4 million a year ago.
• Net income of $3.0 million, or $0.14 per share, versus a net loss of $47.8 million, or $2.22 per share, last year.
• Solid financial position with access to total liquidity of approximately $86 million and a net cash position of $20.2 million as at November 30, 2025.

NON-IFRS AND SUPPLEMENTARY FINANCIAL MEASURES

• Backlog of $296.8 million, up 8.0% since the beginning of the fiscal year.
• Bookings of $77.9 million, versus $59.1 million last year.
• Adjusted net income of $4.0 million, versus adjusted net income of $8.5 million last year.
• Adjusted EBITDA of $9.5 million, compared to $14.3 million last year.

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