Innovotech Reports Financial Results for Q2 and First Half of 2026

Edmonton, Alberta — August 18, 2026 — Leads & Copy — Innovotech Inc., a life sciences services and technology company, reported its financial results for the three months and six months ended June 30, 2026. The company experienced a decrease in revenue for the second quarter of 2026, with revenue totaling $679,841, compared to $984,327 in the same period of 2025. For the first six months of 2026, revenue was $1,327,981, down from $2,142,512 in the first half of 2025. Innovotech also reported a net and comprehensive loss of $655,700, or $0.02 per share, for the second quarter of 2026, an increase from a net and comprehensive loss of $241,199, or $0.00 per share, in the second quarter of 2025. The net and comprehensive loss for the first six months of 2026 was $1,056,994.

During the first half of 2026, Innovotech made significant changes to its financial leadership, appointing Craig Kalvin as Chief Financial Officer. The company also expanded its reach to U.S. investors by commencing trading on the OTCQB Market under the symbol IOTCF.

Craig Milne, Chief Executive Officer of Innovotech, stated that the company's priority is to align its business with current market opportunities and position itself for future growth. This includes implementing tighter cash management practices, right-sizing the organization for near-term opportunities, and continuing to invest in business development. Milne acknowledged that recent results reflect the impact of customer concentration but expressed encouragement regarding growing engagement from both new and existing clients, emphasizing a focus on building a more diversified and resilient business.

Despite a challenging first half, Innovotech continued its investment in strategic growth initiatives. Capital investments during this period included the acquisition of a MALDI-TOF mass spectrometry system for microbial species identification, a high-capacity autoclave, and expanded cleanroom infrastructure to support GMP-associated sterility testing services. Leasehold improvements to laboratory facilities were also made.

Subsequent to the end of the quarter, Innovotech launched InnovoTEST™ Hazardous Drug Wipe Testing Kits. This new environmental monitoring service is designed to assist compounding pharmacies, hospitals, and other healthcare facilities in detecting hazardous drug contamination on workplace surfaces, thereby supporting 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.

Innovotech Inc. is a life sciences services and technology company specializing in contract research, analytical, and microbial testing within regulated healthcare markets. It is recognized for its expertise in biofilm science and antimicrobial testing, offering advanced laboratory services for medical device, pharmaceutical, and industrial product development. Innovotech utilizes proprietary methodologies and products, including its 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, providing reliable data aligned with regulatory expectations from bodies such as the U.S. Food and Drug Administration and Health Canada.