The earnings call highlighted strong strategic progress and backlog growth, particularly in the nuclear sector, and the successful start of operations in Saudi Arabia. However, financial performance was negatively impacted by rescheduled deliveries, tariffs, and decreased gross profit, resulting in increased net losses.
Company Guidance
In the Velan Inc. Q2 Financial Results Conference Call for fiscal 2026, several key financial metrics and operational updates were discussed. The company reported adjusted EBITDA of $3.4 million and operating income of $400,000 on sales of $67.6 million, which were negatively impacted by delivery rescheduling affecting over $12 million in orders. Despite these challenges, the order backlog grew to $285.8 million, a 4% increase since the beginning of the year, with 88.3% of it deliverable within 12 months. Bookings amounted to $65.2 million, down from $88.4 million in the same period last year, though early third-quarter order intake showed a rebound. Gross profit for the quarter was $15.7 million, down from $20 million the previous year, with a margin of 23.2% compared to 25.7% last year. The company also highlighted strategic developments, including the successful delivery from its new manufacturing plant in Saudi Arabia, contributing to a robust pipeline in the Middle East. Despite a net loss of $1.7 million, Velan maintains a strong financial position with $36.1 million in cash and cash equivalents, supported by a $35 million credit facility. The company remains confident in its growth prospects in nuclear and clean energy sectors and is considering capital structure options to support its strategic ambitions.
Saudi Arabia Plant Milestone
Velan delivered the first order from its new manufacturing plant in Saudi Arabia, part of a joint venture aimed at the largest market for oilfield valves worldwide. The plant has a robust pipeline and the backlog is already exceeding USD 500,000.
Strong Nuclear Industry Position
Velan secured significant contracts in the nuclear sector, including reactor cooling valves for a refurbishment project in Ontario, totaling more than $15 million. The company is also a key supplier for GE Hitachi's SMR project at Darlington, positioning Velan as a leader in nuclear energy.
Order Backlog Growth
The order backlog grew to $285.8 million, a 4% increase from the beginning of the year, with 88.3% deliverable within 12 months.
Velan Inc. SV (TSE:VLN) Earnings, Revenues Date & History
The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TSE:VLN Earnings-Related Price Changes
Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Oct 09, 2025
C$15.94
C$15.79
-0.94%
Jul 10, 2025
C$13.87
C$14.74
+6.27%
May 22, 2025
C$16.87
C$15.56
-7.77%
Jan 15, 2025
C$11.38
C$15.48
+36.03%
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Velan Inc. SV (TSE:VLN) report earnings?
Velan Inc. SV (TSE:VLN) is schdueled to report earning on Jan 14, 2026, TBA (Confirmed).
What is Velan Inc. SV (TSE:VLN) earnings time?
Velan Inc. SV (TSE:VLN) earnings time is at Jan 14, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.