Covalon Technologies Ltd Stock Price, News & Analysis

Covalon Technologies Ltd. reported a significant 25% drop in Q3 revenue to $4.5 million and a net loss of $1.6 million, compared to a profit of $0.7 million in Q3 2021. Despite a 10% rise in U.S. product revenue over nine months, total revenue was consistent at $12.8 million year-to-date. Operating expenses increased by $1.3 million as the company invests in sales and marketing. The company remains financially strong with no debt, and has initiated a share buyback program to enhance shareholder value.

Covalon Technologies Ltd. will release its Q3 Fiscal 2022 financial results on August 29, 2022, before market opening. A conference call and webcast to discuss these results will take place at 9:00am EST on the same day. Participants can join the call by dialing 1-888-664-6392 for North American toll-free access. A recording will be available following the call and can be accessed through Covalon's website and SEDAR. Covalon focuses on advanced medical technologies in wound care and surgical procedures, trading under the symbols COV and CVALF.

Covalon Technologies Ltd. (OTCQX: CVALF) has entered into an automatic share purchase plan with PI Financial Corp. to facilitate the repurchase of its common shares under its normal course issuer bid, effective June 29, 2022. This plan allows share buybacks during blackout periods when the company is usually restricted from purchasing shares. The NCIB commenced on June 1, 2022, allowing the company to buy back up to 1,296,433 shares until May 31, 2023, or when the maximum number is acquired.

Covalon Technologies Ltd. reported Q2 fiscal 2022 results with revenue of $3.3 million, down from $4.3 million last year, primarily due to COVID-related shipping delays in Shanghai. However, total revenue for the six months ended March 31, 2022, grew by 19% year-over-year to $8.2 million. The company has a strong cash position of $22 million and no debt, allowing it to withstand supply chain disruptions. Despite a net loss of $2.5 million this quarter, management remains optimistic about growth opportunities in the coming year and plans to buy back up to 5% of shares.

Covalon Technologies Ltd. (CVALF) will release its Q2 Fiscal 2022 financial results on May 30, 2022, before market opening. A conference call and webcast to discuss these results is scheduled for the same day at 9:00 AM EST. Participants can join via a toll-free number or online. Recordings will be made available for future access. Covalon develops patented medical products aimed at enhancing patient care in advanced wound care and infection management. Investors can find financial statements and further information on the company's website or SEDAR.

Covalon Technologies Ltd. has appointed Mark Doolittle as Senior Vice President of Commercial Sales.

Doolittle, with over 20 years in medical and B2B sales, previously served at Cantel Medical, driving its growth from $30M to $350M and contributing to its $3.6B acquisition in 2021. CEO Brian Pedlar expressed optimism about Doolittle’s expertise enhancing Covalon’s efforts in infection prevention and biological collagen solutions.

Covalon Technologies Ltd. (CVALF) announced its participation at the Planet MicroCap Showcase 2022 in Las Vegas. The presentation is scheduled for May 4, 2022, at 5:00 PM EST, hosted by CEO Brian Pedlar. This event will include 1-on-1 investor meetings over two days. Covalon is recognized for its innovative medical technology aimed at enhancing patient care, particularly in wound care and infection management. Interested investors can access the webcast and register for meetings to learn more about Covalon's ongoing developments.

Covalon Technologies Ltd. announced the appointment of Ron Hebert as Senior Vice President of Marketing on April 26, 2022. Hebert brings nearly 30 years of healthcare experience, having held senior marketing roles at firms like Bayer Diagnostics and VIVEX Biologics. His expertise in growth-focused marketing will support Covalon's mission in infection prevention and advanced wound care. CEO Brian Pedlar expressed confidence in Hebert's ability to drive the Company’s growth strategies.

Covalon Technologies Ltd. (CVALF) announced on March 29, 2022, the approval of stock options for 507,500 common shares to various stakeholders including directors and employees. The options have an exercise price of $2.19, aligning with the average trading price over the preceding five days. They will vest over three years (34% after year one, 33% after year two, and 33% after year three) and expire five years from the grant date. The company continues to focus on advanced medical technologies aimed at improving patient outcomes.