Velan Q3 Earnings Call Highlights

2 days ago 3

MarketBeat

Thu, January 15, 2026 astatine 9:27 AM CST 7 min read

Velan logo

Velan Holdings agreed to merchantability its ~72% aggregate voting stock involvement to Birch Hill Equity Partners astatine CAD 13.10 per share, with the woody expected to adjacent successful H1 2026; Velan disclosed ~CAD 10–11M of nonstop transaction fees positive astir CAD 5M of change-of-control costs and has suspended dividends until closing.
In Q3, income dipped 2.4% to CAD 71.7M and adjusted EBITDA fell to CAD 9.5M (from CAD 14.3M a twelvemonth earlier), though gross borderline held dependable astatine astir 37.9% acknowledgment to higher‑margin task execution and outgo controls.
Bookings climbed 32% to CAD 77.9M and backlog roseate 8% to CAD 296.8M, led by atomic and lipid & state demand, highlighted by a >CAD 20M valve bid from Ontario Power Generation for the Pickering refurbishment.
Interested successful Velan Inc.? Here are 5 stocks we similar better.

Velan (TSE:VLN) executives highlighted stronger bid intake, dependable gross borderline performance, and an update connected a pending change-of-control transaction during the company’s third-quarter fiscal 2026 net call, covering the play ended November 30, 2025. Management besides discussed timing-related shipment delays that affected quarterly income and operating currency flow.

Chairman and CEO Jim Mannebach said the institution delivered adjusted EBITDA of CAD 9.5 cardinal connected income of CAD 71.7 million, attributing the effect to execution connected higher-margin projects and “continued choky absorption of operating expenses.”

→ Inside D-Wave’s Major Acquisition—What Changes for Investors

Chief Financial Officer Rishi Sharma reported that income of $71.7 cardinal were down 2.4% from $73.4 cardinal a twelvemonth earlier. He said the diminution chiefly reflected little shipments from the company’s Italian operations aft a beardown prior-year quarter, on with customer-driven timing shifts that pushed “orders totaling a fewer cardinal dollars” into aboriginal periods. Those factors were partially offset by higher income successful India and Germany and a favorable overseas speech impact.

Gross nett was CAD 27.2 million, down from CAD 28.3 cardinal past year, portion gross borderline was comparatively unchangeable astatine 37.9% versus 38.6%. Sharma said higher-margin projects helped prolong profitability, though results were offset by little absorption from reduced measurement and tariff impacts. Currency movements provided a flimsy payment to gross nett for the period.

→ Why Apple Chose Google to Power the Future of AI

Administrative costs decreased to CAD 16.5 cardinal (23% of sales) from CAD 17.0 cardinal (23.2% of sales), which Sharma attributed to outgo simplification initiatives. The 4th included CAD 1.3 cardinal of restructuring expenses consisting of transaction-related costs.