InnoCan Pharma (INNO) Q4 2025 earnings summary

Executive summary

• Revenues for the year ended December 31, 2025, were US $26.6M, down 9.6% year-over-year.

• Gross profit was US $23.9M, a decrease of 8.6% compared to the prior year.

• Gross margin remained robust at 89.9% despite revenue decline.

• Operating loss was US $1.255M, nearly flat year-over-year.

• Strategic focus remains on innovative drug delivery and wellness products, with progress toward a U.S. public offering.

Financial highlights

• Revenues decreased 9.6% to US $26.6M for 2025.

• Gross profit fell 8.6% to US $23.9M.

• Gross margin improved slightly to 89.9% from 89.0% year-over-year.

• Operating loss increased marginally by 0.7% to US $1.255M.

Outlook and guidance

• Sales declines are moderating quarter over quarter, with positive momentum into Q1 2026.

• The company is advancing toward a U.S. public offering to create additional investor value.