Velan (TSE:VLN) reported modest sales growth and a larger year-end backlog for fiscal 2026, while management pointed to tariffs, geopolitical tensions and shifting customer delivery schedules as factors weighing on profitability and order timing.
On the company’s fourth-quarter earnings call, Chairman and CEO Jim Mannebach said Velan delivered “sound financial results” for the year ended Feb. 28, 2026, despite “a very challenging environment” that included tariff volatility and the conflict in the Middle East. He said those factors negatively affected order intake, deliveries, the supply chain and profitability.
