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SEDAR Interim Financial Statements

By The Northwire Desk — AI Analysis Jan 14, 2026 · 21:40 VLN · 18.79 Velan Inc
VLN · Price

[ { "companyName": "Velan Inc.", "reportingPeriodEnd": "2025-11-30", "reportStatus": "Unaudited", "auditorName": "PricewaterhouseCoopers LLP", "auditorKeyMatters": [], "balanceSheet": { "cashAndCashEquivalents": 36320, "shortTermInvestments": 383, "accountsReceivable": 78615, "incomeTaxesRecoverable": 5711, "inventories": 154933, "depositsAndPrepaidExpenses": 4162, "derivativeAssets": 249, "assetsHeldForSale": 0, "totalCurrentAssets": 280373, "propertyPlantAndEquipment": 50398, "intangibleAssetsAndGoodwill": 6375, "deferredIncomeTaxes": 5193, "otherAssets": 740, "totalNonCurrentAssets": 62706, "totalAssets": 343079, "bankIndebtedness": 16097, "accountsPayableAndAccruedLiabilities": 76726, "incomeTaxesPayable": 2304, "customerDeposits": 11559, "provisions": 7875, "derivativeLiabilities": 145, "currentPortionOfLongTermLeaseLiabilities": 1560, "currentPortionOfLongTermDebt": 3722, "liabilitiesHeldForSale": 0, "totalCurrentLiabilities": 119988, "longTermLeaseLiabilities": 4221, "longTermDebt": 13967, "incomeTaxesPayableNonCurrent": 0, "deferredIncomeTaxesNonCurrent": 1339, "customerDepositsNonCurrent": 11908, "otherLiabilities": 5090, "totalNonCurrentLiabilities": 36525, "totalLiabilities": 156513, "totalEquity": 186566, "totalLiabilitiesAndEquity": 343079, "cashPerShare": 1.6829, "workingCapitalPerShare": 7.4305 }, "incomeStatement": { "sales": 211500, "costOfSales": 148022, "grossProfit": 63478, "administrationCosts": 50147, "restructuringExpenses": 7369, "otherExpenses": 3520, "operatingIncome": 2442, "financingExpenses": -893, "incomeBeforeIncomeTaxes": 1549, "incomeTaxExpenseRecovery": -17483, "netIncomeFromContinuingOperations": 19032, "resultsFromDiscontinuedOperations": 58599, "netIncome": 77631, "netIncomeAttributableToShareholders": 77631, "basicEarningsPerShare": 3.60, "dilutedEarningsPerShare": 3.60, "weightedAverageSharesOutstandingBasic": 21585635, "weightedAverageSharesOutstandingDiluted": 21585635 }, "cashFlowStatement": { "netIncome": 77631, "lessResultsFromDiscontinuedOperations": -58599, "netIncomeFromContinuedOperations": 19032, "adjustmentsToReconcileNetLossToCashProvidedByOperatingActivities": -9538, "changesInNonCashWorkingCapitalItems": -50679, "cashProvidedUsedByOperatingActivitiesFromContinuedOperationsExcludingAsbestosSettlement": -41185, "asbestosSettlementTransaction": -143553, "cashProvidedUsedByOperatingActivitiesFromContinuedOperations": -184738, "shortTermInvestments": -33, "additionsToPropertyPlantAndEquipment": -4653, "additionsToIntangibleAssets": 0, "proceedsOnDisposalOfPropertyPlantAndEquipment": 1158, "netChangeInOtherAssets": 13, "cashProvidedUsedByInvestingActivitiesFromContinuedOperationsExcludingProceedsOnDisposalOfFranceAssets": -3515, "proceedsOnDisposalOfFranceAssets": 182363, "cashProvidedUsedByInvestingActivitiesFromContinuedOperations": 178848, "dividendsPaid": -8294, "increaseInLongTermDebt": 3311, "repaymentOfLongTermDebt": -1904, "repaymentOfLongTermLeaseLiabilities": -1232, "cashUsedByFinancingActivitiesFromContinuedOperations": -8119, "effectOfExchangeRateDifferencesOnCashAndCashEquivalents": 1868, "netChangeInCashDuringThePeriodFromContinuedOperations": -12141, "netChangeInCashDuringThePeriodFromDiscontinuedOperations": 8745, "netChangeInCashAndCashEquivalents": -3396, "netCashBeginningOfPeriod": 32364, "netCashEndOfPeriod": 20223, "supplementaryInterestPaid": 42, "supplementaryIncomeTaxesPaid": -4152 }, "investmentsAndOtherAssets": [ { "type": "Marketable Securities", "description": "Short-term investments", "ownershipPercentage": null, "value": 383, "notes": "" } ], "shareStructure": { "authorizedShares": null, "issuedShares": null, "classesOfShares": [ "Subordinate Voting Shares", "Multiple Voting Shares" ], "warrants": [], "options": [], "rightsConvertibleInstruments": null }, "managementCompensation": null, "subsequentEvents": [ { "eventDate": "2026-01-14", "description": "Controlling shareholder Velan Holding Co. Ltd. agreed to sell its multiple voting shares to Birch Hill Equity Partners at C$13.10 per share, representing approximately 72.1% of outstanding shares.", "impactValue": 203922040.80 } ] } ]

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