Edmonton, Alberta – August 18, 2026 - TheNewswire – Innovotech Inc. (TSXV: IOT; OTCQB: IOTCF) (“Innovotech” or the “Company”), a life sciences services and technology company focused on applied microbiology, analytical chemistry, and regulated laboratory services, today reported its financial results for the three months ended June 30, 2026.

 

Revenue for the second quarter of 2026 was $679,841, compared to $984,327 in the second quarter of 2025. Revenue for the six months ended June 30, 2026 was $1,327,981, compared to $2,142,512 for the same period in 2025.  The Company reported a net and comprehensive loss of $655,700 ($0.02 per share) for the quarter ended June 30, 2026, compared to a net and comprehensive loss of $241,199 ($0.00 per share) in the second quarter of 2025. For the six months ended June 30, 2026, the Company reported a net and comprehensive loss of $1,056,994.

 

During the first half of 2026, the Company changed its financial leadership with the appointment of Craig Kalvin as Chief Financial Officer and expanded its access to U.S. investors through the commencement of trading on the OTCQB Market under the symbol IOTCF.

 

"Our priority is to align the business with current market opportunities while positioning Innovotech for future growth," said Craig Milne, Chief Executive Officer. "We are implementing tighter cash management practices, right-sizing the organization to near term opportunities, and continuing to invest in business development activities.  While recent results reflect the impact of customer concentration, we are encouraged by growing engagement from both new and existing clients and remain focused on building a more diversified and resilient business."

 

Despite a challenging first half, the Company continued to invest in strategic growth initiatives. Capital investments included the acquisition of a MALDI-TOF mass spectrometry system for microbial species identification, a high-capacity autoclave, expanded cleanroom infrastructure supporting GMP-associated sterility testing services, and leasehold improvements to laboratory facilities.

 

Subsequent to quarter-end, Innovotech launched InnovoTEST™ Hazardous Drug Wipe Testing Kits, an environmental monitoring service designed to help compounding pharmacies, hospitals, and other healthcare facilities detect hazardous drug contamination on workplace surfaces and support evolving regulatory compliance requirements.

 

"We have taken decisive steps to improve operational efficiency while continuing to invest in areas that support future growth," added Milne. "We believe the actions taken during the first half of the year have positioned the Company to pursue a broader and more diversified customer base."

The Company’s unaudited consolidated financial statements and Management’s Discussion and Analysis (“MD&A”) have been filed on SEDAR+ and the OTCIQ.

 

About Innovotech

Innovotech Inc. is a leading life sciences services and technology company specializing in contract research, analytical, and microbial testing within regulated healthcare markets. The Company is a recognized leader in biofilm science and antimicrobial testing and provides advanced laboratory services supporting medical device, pharmaceutical, and industrial product development. Innovotech combines deep scientific expertise with proprietary methodologies and products, including its widely used MBEC Assay® platform for high-throughput antimicrobial and antibiotic testing. Operating through ISO-certified and GMP-accredited laboratories, Innovotech supports clients across multiple sectors and geographies, delivering reliable, decision-enabling data aligned with regulatory expectations such as those of the U.S. Food and Drug Administration and Health Canada. Learn more at https://www.innovotech.ca.

  

Craig Milne, CEO    Innovotech Inc.

+1-604-239-1819 craig.milne@innovotech.ca

 

This document may contain forward-looking statements that are predictive in nature and subject to risks and uncertainties that cannot be predicted or quantified; consequently, actual results may differ materially from past results and those expressed or implied by any forward-looking statements. Factors that could cause or contribute to such risks or uncertainties include, but are not limited to: the regulatory environment including the difficulty of predicting regulatory outcomes; changes in the value of the Canadian dollar; the Company’s reliance on a small number of customers including government organizations; fluctuations in operating results; government policies or actions; progress and cost of clinical trials; reliance on key strategic relationships; uncertainty related to intellectual property protection and potential costs associated with its defense; the Company’s exposure to lawsuits and other matters beyond the control of management. Should known or unknown risks or uncertainties materialize, or should management’s assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly make or update any forward- looking statements, except as required by applicable law.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

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