Innovotech (TSE:IOT) has released an update.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Innovotech Inc. has reported a first-quarter loss of $102,201 for the period ending March 31, 2024, despite a 22.79% increase in revenue driven by a surge in contract research fees. The loss was attributed to higher General & Administrative expenses due to the expansion of staff and lab capacity in anticipation of greater demand for their antimicrobial testing services. A non-repayable grant from NRC-IRAP, intended to cover technical personnel salaries, is expected to support the company’s R&D efforts through March 2025.
For further insights into TSE:IOT stock, check out TipRanks’ Stock Analysis page.
Trending Articles:
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue