Velan Inc. SV (TSE:VLN) has released an update.
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Velan Inc. has announced a strong finish to fiscal 2024, with a significant increase in new orders and sales, resulting in a year-end backlog surge to $491.5 million. Despite a net loss, the company experienced improved execution quality and healthy profit margins, with a positive outlook for sales growth in fiscal 2025. The firm’s robust balance sheet and cash position are expected to support ongoing operations and global expansion initiatives.
For further insights into TSE:VLN stock, check out TipRanks’ Stock Analysis page.
