Edmonton, Alberta, August 19, 2025 – 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.
