Velan Inc. (VLNSF)

Velan Balance Sheet

Financials in millions USD. Fiscal year is March - February.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug 31, 2025	Feb 28, 2025	Feb 29, 2024	Feb 28, 2023	Feb 28, 2022	Feb 28, 2021
Cash & Equivalents	36.09	34.87	36.45	50.51	54.02	74.69
Short-Term Investments	4.68	4.05	15.69	7.6	15.6	8.96
Cash & Short-Term Investments	40.77	38.92	52.14	58.11	69.62	83.64
Cash Growth	-30.08%	-25.35%	-10.28%	-16.53%	-16.77%	3.08%
Accounts Receivable	63.21	53.72	109.87	113.05	107.71	122.22
Other Receivables	11	14.51	16.17	14.2	11.08	16.96
Receivables	74.2	68.23	126.05	127.25	118.79	139.17
Inventory	137.31	134.97	208.7	202.65	223.2	204.16
Other Current Assets	0.71	176.79	0.13	0.11	0.55	0.2
Total Current Assets	252.98	418.9	387.01	388.11	412.16	427.17
Property, Plant & Equipment	50.52	51.35	69.92	68.21	73.91	96.33
Goodwill	-	-	8.46	8.28	8.79	9.5
Other Intangible Assets	5.9	5.89	8.08	7.87	7.91	7.82
Long-Term Deferred Tax Assets	5.6	25.1	5.19	4.66	4.77	39.07
Other Long-Term Assets	0.78	0.72	0.73	0.72	0.9	0.95
Total Assets	315.79	501.97	479.39	477.86	508.43	580.83
Accounts Payable	74.6	30.07	46.29	39.9	34.31	37.08
Accrued Expenses	-	47.65	40.95	38.64	44.53	47.93
Short-Term Debt	6.62	2.51	-	0.26	0.55	11.74
Current Portion of Long-Term Debt	1.48	2.1	24.43	8.18	8.11	9.9
Current Portion of Leases	1.54	1.44	1.61	1.3	1.36	1.58
Current Income Taxes Payable	2.37	1.82	1.57	2.83	3.81	1.61
Current Unearned Revenue	14.94	22.34	30.4	28.2	41.34	32
Other Current Liabilities	5.14	266.38	15.14	17.65	20.68	35.65
Total Current Liabilities	106.68	374.29	160.39	136.96	154.68	177.49
Long-Term Debt	14.43	14.11	4.35	21.72	22.93	48.19
Long-Term Leases	4.48	4.73	11.04	9.46	11.07	12.65
Long-Term Unearned Revenue	9.52	3.88	35.08	27.94	30.14	30.08
Long-Term Deferred Tax Liabilities	1.53	0.74	3.46	3.97	4.03	2.55
Other Long-Term Liabilities	5.21	5.49	81.82	76.98	20.08	9.66
Total Liabilities	141.84	403.23	296.13	277.02	242.92	280.61
Common Stock	72.7	72.7	72.7	72.7	72.7	72.7
Additional Paid-In Capital	6.36	6.36	6.26	6.26	6.26	6.26
Retained Earnings	133.96	65.95	141.91	162.14	218	239.14
Comprehensive Income & Other	-39.88	-47.14	-38.69	-41.21	-32.13	-21.01
Total Common Equity	173.14	97.86	182.18	199.89	264.82	297.08
Minority Interest	0.81	0.88	1.08	0.95	0.69	3.14
Shareholders' Equity	173.94	98.74	183.26	200.84	265.51	300.22
Total Liabilities & Equity	315.79	501.97	479.39	477.86	508.43	580.83
Total Debt	28.55	24.88	41.42	40.91	44.02	84.05
Net Cash (Debt)	12.22	14.04	10.72	17.2	25.6	-0.41
Net Cash Growth	-38.75%	31.04%	-37.68%	-32.82%	-	-
Net Cash Per Share	0.57	0.65	0.50	0.80	1.19	-0.02
Filing Date Shares Outstanding	21.59	21.59	21.59	21.59	21.59	21.59
Total Common Shares Outstanding	21.59	21.59	21.59	21.59	21.59	21.59
Working Capital	146.31	44.61	226.62	251.15	257.48	249.69
Book Value Per Share	8.02	4.53	8.44	9.26	12.27	13.76
Tangible Book Value	167.23	91.97	165.63	183.74	248.13	279.77
Tangible Book Value Per Share	7.75	4.26	7.67	8.51	11.50	12.96
Land	-	7.9	9.41	9.38	9.57	26.5
Buildings	-	43.8	54.29	53.25	54.34	56.18
Machinery	-	131.69	151.88	147.49	153.11	161.2
Leasehold Improvements	-	1.92	3.92	3.38	3.3	3.12
Order Backlog	-	274.88	283.65	464.34	501.22	562.49

Updated Jan 15, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.