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

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TSE:VLN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 14, 2026	2026 (Q3)	- / -	-3.957	―	―	―
Oct 09, 2025	2026 (Q2)	- / -0.15	0.008	-2037.50% (-0.16)	―	―
Jul 10, 2025	2026 (Q1)	- / -1.21	-0.07	-1632.86% (-1.14)	―	―
May 22, 2025	2025 (Q4)	- / -0.82	-0.13	-533.08% (-0.69)	―	―
Jan 15, 2025	2025 (Q3)	- / -3.96	-0.459	-762.09% (-3.50)	―	―
Oct 10, 2024	2025 (Q2)	- / <0.01	-0.131	106.11% (+0.14)	―	―
Jul 12, 2024	2025 (Q1)	- / -0.07	-0.521	86.56% (+0.45)	―	―
May 17, 2024	2024 (Q4)	- / -0.13	-2.947	95.59% (+2.82)	―	―
Jan 11, 2024	2024 (Q3)	- / -0.46	0.171	-368.42% (-0.63)	―	―
Oct 05, 2023	2024 (Q2)	- / -0.13	-0.22	40.45% (+0.09)	―	―

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$15.85	C$15.70	-0.95%
Jul 10, 2025	C$13.80	C$14.65	+6.16%
May 22, 2025	C$16.78	C$15.48	-7.75%
Jan 15, 2025	C$11.32	C$15.40	+36.04%

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).

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