Covalon Technologies Ltd V.COV

Alternate Symbol(s): CVALF

Healthcare Medical Instruments & Supplies

Covalon Technologies Ltd. is a Canada-based patient-driven medical device company that provides healthcare solutions for advanced wound care, infection control, and medical device coatings. The Company's solutions are designed for patients and made for care providers. The Company leverages its patented medical technology platforms and expertise in two ways: by developing products that are sold under Covalon's name, and by developing and commercializing medical products for other medical companies under development and license contracts. The Company has three proprietary platform technologies that have the potential to be developed into a number of medical devices and products: Collagen matrix, Antimicrobial silicone adhesive and Medical coatings. Its product type includes advanced wound care, antimicrobial dressings, collagen dressings, IV dressings, and perioperative dressings. Its brands include ColActive PLUS, CovaClear, CovaView, CovaWound, IV Clear, SurgiClear, and VALGuard.

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Covalon Technologies Ltd > Strong earnings

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Post by profitprophet1on Jan 07, 2025 8:32am

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Post# 36391991

Strong earnings

Outstanding progress made towards long-term company growth vision Highlights:

Strong sales growth:
- Q4 revenue of $8.9 million (29% growth)
- Full year 2024 revenue of $31.2 million (17% growth)

Solid gross profit acceleration:
- Q4 gross profit of $5.3 million (82.8% growth)
- Full year 2024 gross profit of $18.9 million (31.3% growth)

Robust profitability turnaround:
- Q4 Adjusted EBITDA of $1.1 million ($2.9 million improvement over Q4 FY’23)
- Full year 2024 Adjusted EBITDA of $4.8 million ($7.5 million improvement over full year 2023)
- Q4 Earnings Per Share of $0.02 (+ $0.14 YoY improvement over Q4 FY’23)
- Full year 2024 Earnings Per Share of $0.11 ($0.29 improvement over full year 2023)