Covalon Technologies Ltd Stock Price, News & Analysis

Covalon Technologies (TSXV: COV; OTCQX: CVALF) reported strong Q3 fiscal 2024 results, with significant year-on-year growth. Key highlights include:

- Q3 revenue of $9.2 million, up 47% year-on-year
- Q3 gross profit of $5.4 million, up 51% year-on-year
- Q3 EBITDA of $1.7 million and adjusted EBITDA of $2.4 million
- Earnings per share (EPS) of $0.06

The company's performance was driven by expansion in US hospitals and stronger demand for its collagen dressing. Gross margin improved to 59%, while operating expenses decreased due to restructuring efforts. The company's CEO, Brent Ashton, emphasized that these results demonstrate progress on key priorities and the success of foundational work to strengthen Covalon.

Covalon Technologies (TSXV: COV; OTCQX: CVALF), an advanced medical technologies company, has announced it will release its Q3 Fiscal 2024 financial results on Wednesday, August 21, 2024, before markets open. The company will hold a conference call and webcast to discuss these results on the same day at 8:30am ET.

Participants can join the webcast or dial in to the conference call using the provided links and numbers. The call will include a Q&A session where participants can ask questions to Company management. A recording of the call will be available on Covalon's website under the Investors tab. Financial statements and MD&A can be accessed on SEDAR PLUS and the company's website.

Covalon Technologies announced strong Q2 fiscal 2024 results, with a 16% year-on-year revenue increase to $8.4 million. The company achieved an EBITDA of $1.7 million, adjusted EBITDA of $2.5 million, and an EPS of $0.06. US product segment revenue surged by 54%, contributing to the overall growth. Gross margins improved to 63%, the highest in recent company history. Operating expenses were reduced by 22% compared to the previous year, further boosting profitability. Additionally, the company noted a significant reduction in development and consulting services revenue to $0.06 million for the half-year period, down 97% from the prior year. A conference call to discuss these results is scheduled for May 29, 2024.

Covalon Technologies (TSXV: COV; OTCQX: CVALF) will release its Q2 Fiscal 2024 financial results on May 29, 2024, before markets open. A conference call and webcast to discuss these results will be held the same day at 8:15am ET. Participants can join the call by dialing the provided phone numbers or access the live webcast via a link. The conference call will include a Q&A session where management will answer questions. A recording will be available on the Covalon website. Financial statements and MD&A can be accessed on SEDAR PLUS and Covalon’s website.

Covalon Technologies announced its participation in the Infusion Nurses Society Annual Meeting and Exhibition in Kansas City from May 18 to May 20, 2024. At booth #420, Covalon will showcase its advanced vascular access and infection control solutions, including VALGuard, IV Clear, and CovaClear IV. These products emphasize comfort, protection, and patient safety during infusion treatments. CEO Brent Ashton highlighted the company's dedication to combining efficacy and empathy in patient care.