Edmonton, Alberta, May 13, 2025 – TheNewswire - Innovotech Inc. (TSX-V: IOT) (“Innovotech” or the “Company”) reports record revenue of $1,158,185 for the period ending March 31, 2025. This surpassed the previous record revenue posted for Q4-2024 of $1,045,837, and the comparable Q1-2024 of $313,976.  The strong growth is a result of increased contract research at subsidiary Innovotech Labs Corporation together with the consolidated revenues from Keystone Labs Inc.  The accretive acquisition of Keystone Labs in Q4-2024 continues to contribute substantially to revenue growth, profitability and to building a strong management team.

 

The Company posted $63,523 net and comprehensive income for the period.

 

“Our team has managed the growth exceptionally well, continuing to deliver the quality outcomes that our clients expect and maintaining our research and development programs that will continue to drive the business forward,” said Craig Milne, CEO.

  

About Innovotech:

Innovotech Inc. is a diversified Canadian technology company with business operations in a growing portfolio of specialized laboratory services, biotechnology businesses, and proprietary intellectual property. Innovotech Inc. manages several subsidiary companies.  Innovotech Labs Corporation is a contract research organization that owns and provides proprietary devices for antimicrobial testing in multiple applications and commercializes antimicrobial silver solutions. Learn more at www.innovotech.ca. Keystone Labs Inc. is a DEL-accredited lab serving the Canadian pharmaceutical industry and industrial markets. Learn more at www.keystonelabs.ca.  Innovotech Inc. owns a 60% stake in NouLifeSciences Inc., a company holding intellectual property related to antioxidant molecules with potential applications in cosmetics and various medical conditions including neuropathies.

 

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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