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Edmonton, Alberta, August 19, 2025 TheNewswire - Innovotech Inc. (TSX-V: IOT) ("Innovotech" or the "Company") generated strong revenues in the quarter at $984,327, bringing the half-year revenues to $2,142,512. The Company has recorded a second quarter loss of $241,199. A one-time expense related to executive severances of $213,263 significantly dragged on bottom line results. Revenues were down from Q1-2025 ($1,158,185) but up year-over-year on Q2-2024 and the half-year ($712,563).
"We continue to execute on several linked, sequential projects from clients that have extended across several quarters and will continue to do so. Revenues can be spiky but we are focussed on long-term profitable growth and pleased with the progress to date," said Craig Milne, CEO.
During the second quarter, the Company acquired intangible assets from BDS Microbial Services Inc. and is providing continuity of service for existing clients by re-directing them towards Innovotech's Keystone Labs division. The acquisition has expanded Innovotech's service offering and has already contributed meaningfully to revenues.
About Innovotech:
Innovotech Inc. is a diversified Canadian technology company with business operations in a growing portfolio of specialized laboratory services, biotechnology businesses, and proprietary intellectual property. Innovotech Inc. manages several subsidiary companies. Innovotech Labs Corporation is a contract research organization that owns and provides proprietary devices for antimicrobial testing in multiple applications and commercializes antimicrobial silver solutions. Learn more at www.innovotech.ca . Keystone Labs Inc. is a DEL-accredited lab serving the Canadian pharmaceutical industry and industrial markets. Learn more at www.keystonelabs.ca. Innovotech Inc. owns a 60% stake in NouLifeSciences Inc., a company holding intellectual property related to antioxidant molecules with potential applications in cosmetics and various medical conditions including neuropathies.
Craig Milne, CEO Innovotech Inc.
+1-604-239-1819 craig.milne@innovotech.ca
This document may contain forward-looking statements that are predictive in nature and subject to risks and uncertainties that cannot be predicted or quantified; consequently, actual results may differ materially from past results and those expressed or implied by any forward-looking statements. Factors that could cause or contribute to such risks or uncertainties include, but are not limited to: the regulatory environment including the difficulty of predicting regulatory outcomes; changes in the value of the Canadian dollar; the Company's reliance on a small number of customers including government organizations; fluctuations in operating results; government policies or actions; progress and cost of clinical trials; reliance on key strategic relationships; uncertainty related to intellectual property protection and potential costs associated with its defense; the Company's exposure to lawsuits and other matters beyond the control of management. Should known or unknown risks or uncertainties materialize, or should management's assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly make or update any forward- looking statements, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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