Covalon Technologies Income Statement

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

Millions CAD. Fiscal year is Oct - Sep.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	32.82	31.17	26.6	18.15	19.56
Revenue Growth (YoY)	5.29%	17.20%	46.56%	-7.23%	44.81%
Cost of Revenue	15.34	12.24	12.23	10.65	9.86
Gross Profit	17.47	18.93	14.36	7.49	9.7
Selling, General & Admin	14.39	15.19	17.48	15.27	7.72
Research & Development	1.32	1.59	1.41	1.37	1.14
Operating Expenses	15.71	16.78	18.89	16.64	8.86
Operating Income	1.76	2.15	-4.53	-9.14	0.84
Interest Expense	-	-0.09	-	-0.11	-0.42
Interest & Investment Income	0.44	-	0.07	-	-
Other Non Operating Income (Expenses)	-0.15	0.61	-	-	-
EBT Excluding Unusual Items	2.06	2.67	-4.46	-9.25	0.42
Pretax Income	2.06	2.67	-4.46	-9.25	0.42
Earnings From Continuing Operations	2.06	2.67	-4.46	-9.25	0.42
Earnings From Discontinued Operations	-	-	-	-0.41	23.06
Net Income	2.06	2.67	-4.46	-9.66	23.48
Net Income to Common	2.06	2.67	-4.46	-9.66	23.48
Net Income Growth	-22.91%	-	-	-	-
Shares Outstanding (Basic)	27	25	25	26	26
Shares Outstanding (Diluted)	28	25	25	26	26
Shares Change (YoY)	11.79%	-0.45%	-2.68%	-0.24%	0.01%
EPS (Basic)	0.08	0.11	-0.18	-0.38	0.91
EPS (Diluted)	0.07	0.11	-0.18	-0.38	0.91
EPS Growth	-34.97%	-	-	-	-
Free Cash Flow	1.65	3.18	-3.68	-8.98	0.13
Free Cash Flow Per Share	0.06	0.13	-0.15	-0.35	0.01
Gross Margin	53.24%	60.74%	54.00%	41.30%	49.57%
Operating Margin	5.37%	6.90%	-17.03%	-50.38%	4.29%
Profit Margin	6.27%	8.57%	-16.77%	-53.25%	120.02%
Free Cash Flow Margin	5.01%	10.21%	-13.83%	-49.48%	0.67%
EBITDA	2.14	2.64	-3.95	-8.46	1.3
EBITDA Margin	6.53%	8.49%	-14.87%	-46.63%	6.63%
D&A For EBITDA	0.38	0.49	0.57	0.68	0.46
EBIT	1.76	2.15	-4.53	-9.14	0.84
EBIT Margin	5.37%	6.90%	-17.03%	-50.38%	4.29%
Revenue as Reported	32.82	31.17	26.6	18.15	19.56

Source: S&P Global Market Intelligence. Standard template. Financial Sources.