Covalon Technologies Income Statement

Financials in millions CAD. Fiscal year is October - September.

Millions CAD. Fiscal year is Oct - Sep.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Sep '24 Sep 30, 2024	Sep '23 Sep 30, 2023	Sep '22 Sep 30, 2022	Sep '21 Sep 30, 2021
Revenue	31.54	32.82	31.17	26.6	18.15	19.56
Revenue Growth (YoY)	-9.04%	5.29%	17.20%	46.56%	-7.23%	44.81%
Cost of Revenue	15.05	15.34	12.24	12.23	10.65	9.86
Gross Profit	16.49	17.47	18.93	14.36	7.49	9.7
Selling, General & Admin	14.75	14.39	15.19	17.48	15.27	7.72
Research & Development	1.24	1.32	1.59	1.41	1.37	1.14
Total Operating Expenses	15.98	15.71	16.78	18.89	16.64	8.86
Operating Income	0.5	1.76	2.15	-4.53	-9.14	0.84
Interest Expense	0.4	0.44	-0.09	0.07	-0.11	-0.42
Other Non-Operating Income (Expense)	0.05	0.15	-0.61	-	-	-
Total Non-Operating Income (Expense)	0.45	0.59	-0.7	0.07	-0.11	-0.42
Pretax Income	0.95	2.36	1.45	-4.46	-9.25	0.42
Net Income	0.98	2.06	2.67	-4.46	-9.66	23.48
Net Income to Common	0.98	2.06	2.67	-4.46	-9.66	23.48
Net Income Growth	-79.32%	-22.91%	-	-	-	-
Shares Outstanding (Basic)	27	27	25	25	25	26
Shares Outstanding (Diluted)	28	28	25	25	25	26
Shares Change (YoY)	7.86%	11.79%	-0.45%	-1.41%	-1.52%	0.28%
EPS (Basic)	0.03	0.08	0.11	-0.18	-0.38	0.91
EPS (Diluted)	0.03	0.08	0.11	-0.18	-0.38	0.91
EPS Growth	-83.33%	-27.27%	-	-	-	-
Free Cash Flow	-	0	3.18	-3.68	-8.59	0.45
Free Cash Flow Per Share	-	-	0.13	-0.15	-	0.02
Gross Margin	52.27%	53.24%	60.74%	54.00%	41.29%	49.57%
Operating Margin	1.59%	5.37%	6.90%	-17.03%	-50.38%	4.29%
Profit Margin	3.03%	7.18%	4.65%	-16.77%	-51.00%	2.14%
FCF Margin	-	0.00%	10.21%	-13.83%	-47.36%	2.28%
EBITDA	0.5	1.76	3.14	-3.56	-8.11	1.54
EBITDA Margin	1.59%	5.37%	10.07%	-13.38%	-44.69%	7.87%
EBIT	0.5	1.76	2.15	-4.53	-9.14	0.84
EBIT Margin	1.59%	5.37%	6.90%	-17.03%	-50.38%	4.29%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.