Innocan Pharma Reports Financial Results for Q3 2025, with Revenues at US $21.6M

Executive Summary

• Innocan Pharma reported nine‑month (Q3) 2025 revenues of US $21.6 M, a 10% decline versus the same period in 2024.
• Gross profit fell 10.5% to US $19.5 M, but gross margin remained high at 90.2%.
• Operating loss was stable at US $0.333 M (up 1.5% from prior year).

Key Details

• Revenues: US $21.624 M for nine months ended Sep 30 2025 vs. US $24.036 M in 2024 (‑10%).
• Gross Profit: US $19.501 M vs. US $21.778 M in 2024 (‑10.5%).
• Gross Margin: 90.2% in 2025 versus 90.6% in 2024.
• Operating Loss: US $0.333 M in 2025, a 1.5% increase from the US $0.328 M loss recorded in 2024.
• Management Commentary: CEO Iris Bincovich highlighted encouraging pre‑clinical pharmacokinetic and safety data for LPT‑CBD in minipigs, supporting IND‑enabling studies and future FDA submissions.
• Business Segments: Consumer Wellness segment continued to show resilience and profitability despite a weak U.S. market; the company remains a 60% shareholder of joint‑venture B.I. Sky Global Ltd.
• Future Outlook: Company is progressing toward a U.S. public offering and will host an earnings call/Investor update on Thursday, Nov 27 2025 at 1:00 pm EST (Zoom link provided).
• Access to Full Statements: Unaudited condensed interim consolidated financial statements for three‑ and nine‑month periods are available on the company website and SEDAR+ profile.

Notable Quotes

“The Company continues to deliver strong gross margins, reflecting the strength of our business model and operational execution.” – Iris Bincovich, CEO, Innocan Pharma
“We developed and implemented a strategic response to tariffs and optimized our supply chain, resulting in substantial cost savings and improved gross profit performance.” – Roni Kamhi, CEO of B.I. Sky Global & COO of Innocan Pharma

Materiality Assessment: Material – Neutral (the release contains full quarterly financial results that are material for investors, though the net change is modestly negative on revenue.)