Q4 2026 Velan Inc Earnings Call Transcript

May 15, 2026 / 12:00 PM GMT

Release Date Price: C$15.95 (+1.33%)

Transcript

Key Points

Positve

Annual sales improved year-over-year to $296.4 million, supported by the global reach of Velan Inc (VLNSF)'s sales network and manufacturing operations.
Order backlog grew 3.1% to $283.3 million at year-end, with over 76% deliverable in the next 12 months.
Strong cash position of more than $53 million at year-end with only $18 million in long-term debt.
Secured a significant $20 million valve order from Ontario Power Generation, confirming a leading position in the Canadian nuclear market.
The transaction with Birch Hill Equity Partners is advancing as planned, expected to provide support for sustained growth.

Negative

The ongoing conflict in the Middle East negatively affected order intake, delivery, supply chain, and profitability.
Gross profit margin decreased to 27.4% from 28.8% the previous year, due to a less favorable product mix and tariffs.
Adjusted EBITDA decreased to $20.7 million from $27.5 million in 2025, primarily due to lower gross profit.
Adjusted net income fell to $0.9 million from $6.6 million in 2025, reflecting lower adjusted EBITDA.
Lower bookings from German and Chinese operations, which had previously benefited from strong order flow.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

VLN.TO - Velan Inc
Q4 2026 Velan Inc Earnings Call
May 15, 2026 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, ladies and gentlemen, and welcome to the Zeeland Inc. Q4 Financial Results Conference Call.

At this time, all lines are in a listen-only mode. Following the presentation, we'll conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press *0 for the operator.

This call is being recorded on Friday, May 15th, 2026.

I would now like to turn the conference over to Rishi Sharma, CFO. Please go ahead.

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Unidentified_2 [2]
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Thank you, operator. Good morning. Bonjour.

Thank you

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