Velan Reports Modest Sales Growth and Improved Backlog Amid Profitability Challenges
Velan Inc. reported fiscal 2026 sales growth to $296.4 million, but profitability weakened with a decline in gross margin from 28.8% to 27.4%. Management attributed the challenges to tariffs and geopolitical tensions affecting order timing and margins. The company ended the year with an increased backlog of $283.3 million.
Tickers: $MCD
Topics: backlog earnings profitability sales growth