Velan Balance Sheet

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

Millions USD. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	May '26 May 31, 2026	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	34.57	53.35	34.87	36.45	50.51	54.02
Short-Term Investments	4.86	3.71	4.05	15.69	7.6	15.6
Cash & Short-Term Investments	39.43	57.06	38.92	52.14	58.11	69.62
Cash Growth	-37.74%	46.62%	-25.35%	-10.28%	-16.53%	-16.77%
Accounts Receivable	66.85	68.69	53.72	109.87	113.05	107.71
Other Receivables	13.29	12.19	14.51	16.17	14.2	11.08
Receivables	80.14	80.88	68.23	126.05	127.25	118.79
Inventory	139.24	147.14	134.97	208.7	202.65	223.2
Other Current Assets	0.01	0.06	176.79	0.13	0.11	0.55
Total Current Assets	258.82	285.14	418.9	387.01	388.11	412.16
Property, Plant & Equipment	49.71	50.94	51.35	69.92	68.21	73.91
Goodwill	-	-	-	8.46	8.28	8.79
Other Intangible Assets	3.9	4.48	5.89	8.08	7.87	7.91
Long-Term Deferred Tax Assets	4.23	5.28	25.1	5.19	4.66	4.77
Other Long-Term Assets	0.77	0.77	0.72	0.73	0.72	0.9
Total Assets	317.43	346.61	501.97	479.39	477.86	508.43
Accounts Payable	64.95	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	17.59	11.86	2.51	-	0.26	0.55
Current Portion of Long-Term Debt	2.79	3.74	2.1	24.43	8.18	8.11
Current Portion of Leases	1.58	1.59	1.44	1.61	1.3	1.36
Current Income Taxes Payable	1.41	1.33	1.82	1.57	2.83	3.81
Current Unearned Revenue	13.97	20.21	22.34	30.4	28.2	41.34
Other Current Liabilities	9.31	11.11	266.38	15.14	17.65	20.68
Total Current Liabilities	111.59	134.18	374.29	160.39	136.96	154.68
Long-Term Debt	14	14.49	14.11	4.35	21.72	22.93
Long-Term Leases	3.64	3.97	4.73	11.04	9.46	11.07
Long-Term Unearned Revenue	14.59	5.58	3.88	35.08	27.94	30.14
Long-Term Deferred Tax Liabilities	1.28	1.35	0.74	3.46	3.97	4.03
Other Long-Term Liabilities	5.29	4.94	5.49	81.82	76.98	20.08
Total Liabilities	150.39	164.5	403.23	296.13	277.02	242.92
Common Stock	72.7	72.7	72.7	72.7	72.7	72.7
Additional Paid-In Capital	6.36	6.36	6.36	6.26	6.26	6.26
Retained Earnings	120.52	131.57	65.95	141.91	162.14	218
Comprehensive Income & Other	-33.09	-29.14	-47.14	-38.69	-41.21	-32.13
Total Common Equity	166.48	181.48	97.86	182.18	199.89	264.82
Minority Interest	0.56	0.63	0.88	1.08	0.95	0.69
Shareholders' Equity	167.04	182.1	98.74	183.26	200.84	265.51
Total Liabilities & Equity	317.43	346.61	501.97	479.39	477.86	508.43
Total Debt	39.6	35.65	24.88	41.42	40.91	44.02
Net Cash (Debt)	-0.17	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	-0.01	0.99	0.65	0.50	0.80	1.19
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	147.23	150.96	44.61	226.62	251.15	257.48
Book Value Per Share	7.71	8.41	4.53	8.44	9.26	12.27
Tangible Book Value	162.58	177	91.97	165.63	183.74	248.13
Tangible Book Value Per Share	7.53	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