Velan Balance Sheet

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

Millions USD. Fiscal year is Mar - Feb.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Feb '26 Feb 28, 2026	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
Cash & Equivalents	53.35	34.87	36.45	50.51	54.02
Short-Term Investments	3.71	4.05	15.69	7.6	15.6
Cash & Short-Term Investments	57.06	38.92	52.14	58.11	69.62
Cash Growth	46.62%	-25.35%	-10.28%	-16.53%	-16.77%
Accounts Receivable	68.69	53.72	109.87	113.05	107.71
Other Receivables	12.19	14.51	16.17	14.2	11.08
Receivables	80.88	68.23	126.05	127.25	118.79
Inventory	147.14	134.97	208.7	202.65	223.2
Other Current Assets	0.06	176.79	0.13	0.11	0.55
Total Current Assets	285.14	418.9	387.01	388.11	412.16
Property, Plant & Equipment	50.94	51.35	69.92	68.21	73.91
Goodwill	-	-	8.46	8.28	8.79
Other Intangible Assets	4.48	5.89	8.08	7.87	7.91
Long-Term Deferred Tax Assets	5.28	25.1	5.19	4.66	4.77
Other Long-Term Assets	0.77	0.72	0.73	0.72	0.9
Total Assets	346.61	501.97	479.39	477.86	508.43
Accounts Payable	47.21	30.07	46.29	39.9	34.31
Accrued Expenses	37.13	47.65	40.95	38.64	44.53
Short-Term Debt	11.86	2.51	-	0.26	0.55
Current Portion of Long-Term Debt	3.74	2.1	24.43	8.18	8.11
Current Portion of Leases	1.59	1.44	1.61	1.3	1.36
Current Income Taxes Payable	1.33	1.82	1.57	2.83	3.81
Current Unearned Revenue	20.21	22.34	30.4	28.2	41.34
Other Current Liabilities	11.11	266.38	15.14	17.65	20.68
Total Current Liabilities	134.18	374.29	160.39	136.96	154.68
Long-Term Debt	14.49	14.11	4.35	21.72	22.93
Long-Term Leases	3.97	4.73	11.04	9.46	11.07
Long-Term Unearned Revenue	5.58	3.88	35.08	27.94	30.14
Long-Term Deferred Tax Liabilities	1.35	0.74	3.46	3.97	4.03
Other Long-Term Liabilities	4.94	5.49	81.82	76.98	20.08
Total Liabilities	164.5	403.23	296.13	277.02	242.92
Common Stock	72.7	72.7	72.7	72.7	72.7
Additional Paid-In Capital	6.36	6.36	6.26	6.26	6.26
Retained Earnings	131.57	65.95	141.91	162.14	218
Comprehensive Income & Other	-29.14	-47.14	-38.69	-41.21	-32.13
Total Common Equity	181.48	97.86	182.18	199.89	264.82
Minority Interest	0.63	0.88	1.08	0.95	0.69
Shareholders' Equity	182.1	98.74	183.26	200.84	265.51
Total Liabilities & Equity	346.61	501.97	479.39	477.86	508.43
Total Debt	35.65	24.88	41.42	40.91	44.02
Net Cash (Debt)	21.42	14.04	10.72	17.2	25.6
Net Cash Growth	52.49%	31.04%	-37.68%	-32.82%	-
Net Cash Per Share	0.99	0.65	0.50	0.80	1.19
Filing Date Shares Outstanding	21.59	21.59	21.59	21.59	21.59
Total Common Shares Outstanding	21.59	21.59	21.59	21.59	21.59
Working Capital	150.96	44.61	226.62	251.15	257.48
Book Value Per Share	8.41	4.53	8.44	9.26	12.27
Tangible Book Value	177	91.97	165.63	183.74	248.13
Tangible Book Value Per Share	8.20	4.26	7.67	8.51	11.50
Land	7.92	7.9	9.41	9.38	9.57
Buildings	44.5	43.8	54.29	53.25	54.34
Machinery	137.38	131.69	151.88	147.49	153.11
Leasehold Improvements	2.25	1.92	3.92	3.38	3.3
Order Backlog	283.29	274.88	283.65	464.34	501.22