Welcome to our dedicated page for Covalon Technologies news (Ticker: CVALF), a resource for investors and traders seeking the latest updates and insights on Covalon Technologies stock.
Covalon Technologies Ltd. (CVALF) is described in its news releases as an advanced medical technologies and medical device company with expertise in advanced wound care, vascular access, and surgical consumables. The Covalon news flow often combines clinical, commercial, and financial updates, giving investors and healthcare professionals insight into how its technologies are being adopted and how the business is performing.
Recent announcements include detailed financial results, where the company has reported multiple years of revenue growth, profitability, and a debt-free balance sheet, as well as the declaration and payment of its first-ever special cash dividend. These financial updates are accompanied by commentary on revenue by product category and sales channel, including U.S. Vascular Access and Surgical Consumables, U.S. Advanced Wound Care, and International channels.
Covalon’s news also highlights clinical milestones and conference activity. The company has announced a peer-reviewed study in the Journal of the Association for Vascular Access evaluating its VALGuard ae Vascular Access Line Guard in pediatric central line care, with reported reductions in CLABSI rates. It regularly reports on participation in major professional meetings such as the Association for Vascular Access Annual Scientific Meeting, the Association of Pediatric Hematology/Oncology Nurses Conference, and the ANCC National Magnet & Pathway to Excellence Conference, where it showcases VALGuard ae, CovaClear ae, IV Clear ae, and SurgiClear ae dressings.
Investors following CVALF news can expect updates on quarterly and annual financial results, dividend decisions, board and executive changes, new clinical evidence, health economic findings, and Covalon’s presence at investor conferences such as the Planet MicroCap Showcase. This combination of financial, clinical, and market-facing news provides context on how the company positions its technologies and on the evolution of its business across its key sales channels.
Covalon Technologies reported a strong fiscal Q1 2023 with a 25% revenue growth, totaling $6.2 million, compared to $4.9 million in Q1 2022. The company achieved a 60% gross margin, significantly up from 46% year-over-year, attributed to improved supply chain and operational efficiencies. Net loss narrowed to $0.4 million or $0.02 per share, compared to $1.5 million or $0.06 per share last year. Covalon continues to strengthen its market presence, particularly in the U.S., and has a solid cash position of $14.1 million with no debt, fueling future growth initiatives.
Covalon Technologies Ltd. (OTCQX: CVALF) will participate in the NEO Conference for Neonatology in Las Vegas from February 22 to 24, 2023. This marks the company's first appearance at the event, aimed at enhancing neonatal care through innovative solutions. Covalon's products focus on preventing infections in infants, significantly aiding top pediatric hospitals in the U.S. The company offers solutions such as VALGuard and IV Clear. With a commitment to improving patient outcomes, Covalon emphasizes compassionate care, which is vital for vulnerable neonates.
Covalon Technologies Ltd. (TSXV: COV, OTCQX: CVALF) will release its Q1 Fiscal 2023 financial results on February 23, 2023, before markets open. A conference call and webcast are scheduled for the same day at 9:00 am EST. Participants can join the call by dialing North American Toll-Free: 1-888-664-6392 or through a provided link for a callback option. The call will allow participants to engage in a Q&A session with management. Financial statements will be available on SEDAR and Covalon's website. The company focuses on advanced medical technologies aimed at improving patient outcomes.
Covalon Technologies Ltd. (CVALF) announced its fiscal 2022 Q4 and year-end results, reporting a 7% decline in revenue to $18.1M from $19.6M in the prior year. The company experienced a net loss of $9.7M, or $0.38 per share, compared to a profit of $23.5M in fiscal 2021. Operating expenses surged to $16.6M, driven by investments in marketing and leadership. Despite challenges, Covalon is optimistic about future revenue growth, especially in the U.S. market, where it secured its products in over 70 hospitals. The management commits to enhancing margins and profitability through operational improvements.
Covalon Technologies Ltd. (TSXV: COV, OTCQX: CVALF) will announce its Q4 and Fiscal 2022 financial results on January 25, 2023, after market close. A conference call is scheduled for January 26, 2023, at 9:00 AM EST, to discuss these results. Participants can join the call via telephone or through a live webcast. A recording will be available post-call until February 9, 2023. Financial statements will be accessible through SEDAR and the company's website. Covalon specializes in advanced medical technologies that enhance patient outcomes in various medical fields.
Covalon Technologies Ltd. (OTCQX:CVALF) will present at the Planet MicroCap Investor Showcase: VIRTUAL 2022 on December 7, 2022, at 8:30 AM EST. CEO Brian Pedlar will lead the session and answer questions afterward. Covalon specializes in patented medical technologies that enhance patient care by reducing infection risks and improving healing processes. Interested investors can access the live presentation via webcast and can schedule 1-on-1 meetings. More details are available through the provided links.
Covalon Technologies Ltd. has launched a new campaign titled 'CLABSI Conscious' to combat the rising rates of Central Line Associated Blood Stream Infections (CLABSIs) in U.S. hospitals, particularly among pediatric patients. This initiative comes in response to a staggering 47% increase in CLABSI rates reported by the CDC. The campaign focuses on using advanced technology to enhance infection prevention practices, alongside a new blog and renewed social media outreach to raise awareness about infection risks. An expert-led webinar is scheduled for November 9, 2022, to discuss solutions for reducing CLABSI rates.
Covalon Technologies Ltd. presented its advanced wound care product, ColActive Plus Powder, at the Symposium on Advanced Wound Care held from October 13 to 16, 2022, in Las Vegas. A case study by Dr. Alton Johnson Jr. at the University of Michigan showcased its effectiveness in treating chronic wounds. Notably, an 83-year-old patient with non-healing post-amputation wounds healed within 28 days using this product. This success highlights its potential to significantly impact patient care for those with chronic wounds.
Covalon Technologies Ltd. (CVALF) announced its participation in the ANCC Magnet Conference in Philadelphia from October 13 to 15, 2022. The company, known for its advanced medical technologies, will showcase its innovative infection prevention solutions, including VALGuard, which reduces catheter-related infection risks. CEO Brian Pedlar emphasized the importance of infection-free environments for hospitalized children. Attendees can visit Covalon at booth 1557 to learn more about their products aimed at improving patient outcomes and caregiver experiences.
Covalon Technologies Ltd. will participate in the 12th International Pediatric Intestinal Failure and Rehabilitation Symposium in Toronto from September 30 to October 2, 2022. This event unites healthcare professionals focused on the care of children suffering from intestinal failure. The company aims to showcase its innovative products that offer enhanced infection protection for patients, particularly those needing long-term intravenous access. Covalon emphasizes that CLABSIs have surged during the pandemic, highlighting the urgency for effective infection prevention protocols.
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