Reported Earnings • May 26
First quarter 2026 earnings released: CA$0.003 loss per share (vs CA$0.003 loss in 1Q 2025) First quarter 2026 results: CA$0.003 loss per share (in line with 1Q 2025). Revenue: CA$15.4k (down 12% from 1Q 2025). Net loss: CA$106.6k (loss narrowed 12% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Oct 21
Ovation Science Inc. announced that it has received CAD 0.15835 million in funding On October 20, 2025, Ovation Science Inc closed the transaction. The company issued 3,167,000 units at a price of CAD 0.05 per unit for aggregate gross proceeds of CAD 158,350. A director of the company participated in the transaction and acquired 200,000 units. This participation is considered a related party transaction under MI 61-101 but is exempt from the formal valuation and minority shareholder approval requirements pursuant to sections 5.5(b) and 5.7(1)(b), as the value of the transaction is less than 25 per cent of the company's market capitalization. In connection with the offering, the company paid eligible finders a cash fee equal to 8 per cent of the gross proceeds raised from investors they introduced. Announcement • Sep 30
Ovation Science Inc. announced that it expects to receive CAD 0.2 million in funding Ovation Science Inc. announced a non-brokered private placement financing of 4,000,000 units at a price of CAD 0.05 per Unit for proceeds of CAD 200,000 on September 29, 2025. Under the Offering, each unit will consist of one common share and one share purchase warrant. Each Warrant will entitle the holder to purchase an additional share at a price of CAD 0.05 per share for a period of 24 months from the date of issue. The Units issued under the Offering will be subject to a statutory hold period of four months and one day from the date of issuance. In connection with the Offering, the Company will pay eligible finders a fee in cash equal to 8% of the gross proceeds raised from persons introduced by the Finder and/or share purchase warrants equal to 8% of the total number of Units subscribed for by persons introduced by the Finder. The broker’s warrants will be exercisable to purchase an additional share at CAD 0.05 per share for a period of 24 months from the date of issue. Announcement • Sep 29
Ovation Science Inc., Annual General Meeting, Nov 25, 2025 Ovation Science Inc., Annual General Meeting, Nov 25, 2025. Reported Earnings • Aug 30
Second quarter 2024 earnings released: CA$0.003 loss per share (vs CA$0.009 loss in 2Q 2023) Second quarter 2024 results: CA$0.003 loss per share (improved from CA$0.009 loss in 2Q 2023). Revenue: CA$42.2k (up CA$40.2k from 2Q 2023). Net loss: CA$75.8k (loss narrowed 71% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 47% per year, which means it is significantly lagging earnings. Board Change • Aug 15
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Joan Chypyha was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jul 23
Ovation Science Inc., Annual General Meeting, Sep 20, 2024 Ovation Science Inc., Annual General Meeting, Sep 20, 2024. Reported Earnings • May 07
Full year 2023 earnings released: CA$0.027 loss per share (vs CA$0.027 loss in FY 2022) Full year 2023 results: CA$0.027 loss per share (in line with FY 2022). Revenue: CA$61.9k (down 55% from FY 2022). Net loss: CA$813.1k (loss widened 2.4% from FY 2022). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. Announcement • Apr 12
Ovation Science Inc. announced that it has received $0.05 million in funding On April 11, 2024, Ovation Science Inc closed the transaction. Announcement • Mar 21
Ovation Science Inc. announced that it expects to receive CAD 0.0675 million in funding Ovation Science Inc. announced a private placement of 1,350,000 Units at a price of CAD 0.05 per Unit for a gross proceeds of CAD 67,500 on March 20, 2024. Each unit consists of one common share of the Company and one non-transferable share purchase warrant. Each warrant is exercisable to purchase an additional common share at a price of CAD 0.05 per share for a period of 24 months from closing of the private placement. The securities issued under the private placement will be subject to a hold period expiring four months and one day from the date of issuance pursuant to applicable Canadian securities laws and relevant restrictions under the securities laws of other jurisdictions where the placees may be residents. Reported Earnings • Nov 29
Third quarter 2023 earnings released: CA$0.007 loss per share (vs CA$0.007 loss in 3Q 2022) Third quarter 2023 results: CA$0.007 loss per share (in line with 3Q 2022). Revenue: CA$4.4k (down 87% from 3Q 2022). Net loss: CA$193.2k (loss narrowed 2.8% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 53% per year, which means it is significantly lagging earnings. New Risk • Oct 15
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.8% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (78% average weekly change). Negative equity (-CA$502k). Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m (CA$113k revenue, or US$83k). Market cap is less than US$10m (€1.09m market cap, or US$1.15m). Minor Risk Shareholders have been diluted in the past year (6.8% increase in shares outstanding). Announcement • Oct 13
Ovation Science Inc. announced that it has received CAD 0.2 million in funding On October 12, 2023, Ovation Science Inc. closed the transaction. Net proceeds of the offering are CAD 184,000 after payment of commissions totaling CAD 16,000. The Company issued a total of 480,000 brokers warrants. Announcement • Oct 05
Ovation Science Inc. announced that it expects to receive CAD 0.2 million in funding Ovation Science Inc. announced a proposed private placement of up to 4,000,000 units at a price of CAD 0.05 per unit for the gross proceeds of CAD 200,000 on October 3, 2023. Each Unit consists of one common share and one common share purchase warrant. Each warrant will entitle the holder to purchase an additional share at a price of CAD 0.05 per share for a two-year term. The Company will pay a commission of 8% cash and 480,000 broker warrants in connection with this offering. Reported Earnings • Sep 03
Second quarter 2023 earnings released: CA$0.009 loss per share (vs CA$0.007 loss in 2Q 2022) Second quarter 2023 results: CA$0.009 loss per share (further deteriorated from CA$0.007 loss in 2Q 2022). Revenue: CA$2.0k (down 93% from 2Q 2022). Net loss: CA$262.0k (loss widened 22% from 2Q 2022). Announcement • Jun 21
Ovation Science Inc., Annual General Meeting, Aug 22, 2023 Ovation Science Inc., Annual General Meeting, Aug 22, 2023. Reported Earnings • May 07
Full year 2022 earnings released: CA$0.027 loss per share (vs CA$0.081 loss in FY 2021) Full year 2022 results: CA$0.027 loss per share (improved from CA$0.081 loss in FY 2021). Revenue: CA$138.2k (down 39% from FY 2021). Net loss: CA$794.1k (loss narrowed 67% from FY 2021). Reported Earnings • Nov 30
Third quarter 2022 earnings released: CA$0.007 loss per share (vs CA$0.007 loss in 3Q 2021) Third quarter 2022 results: CA$0.007 loss per share (in line with 3Q 2021). Revenue: CA$34.5k (down 1.1% from 3Q 2021). Net loss: CA$198.8k (loss narrowed 1.9% from 3Q 2021). Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Director Ian Howard was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 28
Second quarter 2022 earnings released: CA$0.007 loss per share (vs CA$0.007 loss in 2Q 2021) Second quarter 2022 results: CA$0.007 loss per share (vs CA$0.007 loss in 2Q 2021). Revenue: CA$29.5k (down 61% from 2Q 2021). Net loss: CA$214.3k (loss widened 4.7% from 2Q 2021). Reported Earnings • May 04
Full year 2021 earnings released: CA$0.081 loss per share (vs CA$0.044 loss in FY 2020) Full year 2021 results: CA$0.081 loss per share (down from CA$0.044 loss in FY 2020). Revenue: CA$224.9k (down 70% from FY 2020). Net loss: CA$2.39m (loss widened 102% from FY 2020). Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Director Ian Howard was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 28
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: CA$0.007 loss per share (up from CA$0.01 loss in 3Q 2020). Revenue: CA$34.9k (down 81% from 3Q 2020). Net loss: CA$202.6k (loss narrowed 20% from 3Q 2020). Revenue was in line with analyst estimates. Reported Earnings • Sep 02
Second quarter 2021 earnings released: CA$0.007 loss per share (vs CA$0.025 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: CA$76.3k (down 24% from 2Q 2020). Net loss: CA$204.7k (loss narrowed 67% from 2Q 2020). Reported Earnings • Jun 03
First quarter 2021 earnings released: CA$0.006 loss per share (vs CA$0.005 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: CA$73.5k (down 75% from 1Q 2020). Net loss: CA$161.4k (loss widened 46% from 1Q 2020). Reported Earnings • May 02
Full year 2020 earnings released: CA$0.044 loss per share (vs CA$0.052 loss in FY 2019) The company reported a solid full year result with improved revenues and control over costs, although losses increased. Full year 2020 results: Revenue: CA$750.0k (up 148% from FY 2019). Net loss: CA$1.18m (loss widened 42% from FY 2019). Reported Earnings • Dec 02
Third quarter 2020 earnings released: CA$0.01 loss per share The company reported a solid third quarter result with improved revenues and control over expenses, though losses increased. Third quarter 2020 results: Revenue: CA$181.0k (up 129% from 3Q 2019). Net loss: CA$253.8k (loss widened 80% from 3Q 2019).