Income Statement Voyageur Pharmaceuticals Ltd. Toronto S.E.

Stocks

VM

CA92916K1057

Pharmaceuticals

Delayed Toronto S.E.			5-day change	1st Jan Change
- ^CAD	-.--%		+7.14%	-

09-25	Voyageur Pharmaceuticals to Issue Shares to Settle Debt of CA$192,300	MT
08-10	Voyageur Pharmaceuticals Ltd. Advances Mueller Iodine Extraction Process with 99.8% Purity Results and Planned Field Pilot Testing	CI

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Published financial data: VOYAGEUR PHARMACEUTICALS LTD.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: November	2021 (CAD)	2022 (CAD)	2023 (CAD)	2024 (CAD)	2025 (CAD)
Revenues	-	-	-	-	11.68K
Total Revenues	-	-	-	-	11.68K
Cost of Goods Sold, Total	-	-	-	-	11.68K
Gross Profit	-	-	-	-	0
Selling General & Admin Expenses, Total	1.23M	1.45M	987K	1.1M	2.08M
Exploration / Drilling Costs, Total	-	-	-	-	-
Stock-Based Compensation (IS)	738K	152K	234K	417K	810K
Depreciation & Amortization - (IS)	2.25K	2.91K	2.18K	1.57K	1.13K
Impairment of Oil, Gas & Mineral Properties - (IS)	-	-	-	-	-
Other Operating Expenses, Total	1.97M	1.61M	1.22M	1.51M	2.89M
Operating Income	-1.97M	-1.61M	-1.22M	-1.51M	-2.89M
Interest Expense, Total	-	-	-	-	-
Net Interest Expenses	-	-	-	-	-
Other Non Operating Income (Expenses)	-77.21K	-147K	-123K	-184K	-639K
EBT, Excl. Unusual Items	-2.05M	-1.75M	-1.35M	-1.7M	-3.53M
Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-6.21K	-	-	-
Asset Writedown	-	-	-48.61K	-7.94K	-
Other Unusual Items	-	4.24K	-4.48K	-	-
EBT, Incl. Unusual Items	-2.05M	-1.75M	-1.4M	-1.71M	-3.53M
Earnings From Continuing Operations	-2.05M	-1.75M	-1.4M	-1.71M	-3.53M
Net Income to Company	-2.05M	-1.75M	-1.4M	-1.71M	-3.53M
Net Income - (IS)	-2.05M	-1.75M	-1.4M	-1.71M	-3.53M
Net Income to Common Incl Extra Items	-2.05M	-1.75M	-1.4M	-1.71M	-3.53M
Net Income to Common Excl. Extra Items	-2.05M	-1.75M	-1.4M	-1.71M	-3.53M
Per Share Items
Net EPS - Basic	-0.02	-0.02	-0.01	-0.01	-0.02
Basic EPS - Continuing Operations	-0.02	-0.02	-0.01	-0.01	-0.02
Basic Weighted Average Shares Outstanding	94.68M	108M	131M	138M	166M
Net EPS - Diluted	-0.02	-0.02	-0.01	-0.01	-0.02
Diluted EPS - Continuing Operations	-0.02	-0.02	-0.01	-0.01	-0.02
Diluted Weighted Average Shares Outstanding	94.68M	108M	131M	138M	166M
Normalized Basic EPS	-0.01	-0.01	-0.01	-0.01	-0.01
Normalized Diluted EPS	-0.01	-0.01	-0.01	-0.01	-0.01
Supplemental Items
EBITDA	-1.97M	-1.6M	-1.22M	-1.51M	-2.89M
EBITA	-1.97M	-1.61M	-1.22M	-1.51M	-2.89M
EBIT	-1.97M	-1.61M	-1.22M	-1.51M	-2.89M
EBITDAR	-	-	-	-	-
Normalized Net Income	-1.28M	-1.09M	-841K	-1.06M	-2.21M
Supplemental Operating Expense Items
Marketing Expenses	497K	528K	281K	287K	908K
Selling and Marketing Expenses	497K	528K	281K	287K	908K
General and Administrative Expenses	418K	511K	376K	466K	762K
Research And Development Expense From Footnotes	-	-	-	-	0
Exploration/Drilling Costs	-	-	-	-	-
Net Rental Expense, Total	-	-	-	-	-
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	738K	152K	234K	417K	810K
Total Stock-Based Compensation	738K	152K	234K	417K	810K

Fiscal Period: November	2021 (CAD)	2022 (CAD)	2023 (CAD)	2024 (CAD)	2025 (CAD)
Assets
Cash And Equivalents	813K	31.56K	2.08K	166K	267K
Short Term Investments	5.95K	5.95K	3.5K	3.5K	3.5K
Total Cash And Short Term Investments	819K	37.51K	5.58K	169K	271K
Other Receivables	41.54K	23.89K	35.94K	52.07K	134K
Total Receivables	41.54K	23.89K	35.94K	52.07K	134K
Inventory	9.71K	10.32K	10.32K	66.82K	49.17K
Prepaid Expenses	17.15K	85.46K	36.78K	70.66K	143K
Total Current Assets	887K	157K	88.63K	359K	596K
Gross Property Plant And Equipment	1.72M	1.93M	2.07M	2.24M	2.51M
Accumulated Depreciation	-54.62K	-10.29K	-12.48K	-14.05K	-15.18K
Net Property Plant And Equipment	1.67M	1.92M	2.06M	2.23M	2.49M
Other Long-Term Assets, Total	14K	14K	14K	14K	14K
Total Assets	2.57M	2.1M	2.16M	2.6M	3.11M
Liabilities
Accounts Payable, Total	553K	524K	218K	909K	822K
Accrued Expenses, Total	-	-	-	-	-
Short-term Borrowings	-	-	-	16.44K	-
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	16.56K	-	-	-	-
Unearned Revenue Current, Total	-	-	-	-	96.77K
Other Current Liabilities	51.76K	66.94K	456K	1.17M	894K
Total Current Liabilities	621K	591K	674K	2.09M	1.81M
Long-Term Debt	25.52K	25.52K	40K	40K	40K
Long-Term Leases	-	-	-	-	-
Other Non Current Liabilities	14K	14K	14K	14K	-
Total Liabilities	661K	631K	728K	2.15M	1.85M
Common Stock, Total	6.27M	7.55M	8.69M	9.14M	12.64M
Additional Paid In Capital	1.61M	1.64M	1.86M	2.13M	2.96M
Retained Earnings	-5.97M	-7.73M	-9.13M	-10.84M	-14.37M
Comprehensive Income and Other	-	-	11.64K	20.93K	20.95K
Total Common Equity	1.91M	1.46M	1.44M	450K	1.25M
Total Equity	1.91M	1.46M	1.44M	450K	1.25M
Total Liabilities And Equity	2.57M	2.1M	2.16M	2.6M	3.11M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	102M	133M	139M	139M	179M
ECS Total Common Shares Outstanding	102M	115M	133M	139M	179M
Book Value / Share	0.02	0.01	0.01	0	0.01
Tangible Book Value	1.91M	1.46M	1.44M	450K	1.25M
Tangible Book Value Per Share	0.02	0.01	0.01	0	0.01
Total Debt	42.08K	25.52K	40K	56.44K	40K
Net Debt	-777K	-11.99K	34.42K	-113K	-231K
Debt Equivalent Oper. Leases	-	-	-	-	-
Account Code - Inventory Valuation	3	-	3	6	6
Inventories - Raw Materials, Total	-	-	-	3.62K	-
Inventories - Finished Goods, Total	-	-	-	63.2K	49.17K
Machinery, Total	84.34K	18.3K	18.3K	18.3K	18.3K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-

Fiscal Period: November	2021 (CAD)	2022 (CAD)	2023 (CAD)	2024 (CAD)	2025 (CAD)
Net Income	-2.05M	-1.75M	-1.4M	-1.71M	-3.53M
Depreciation & Amortization - CF	2.25K	9.21K	2.18K	1.57K	1.13K
Impairment of Oil, Gas & Mineral Properties - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	2.25K	9.21K	2.18K	1.57K	1.13K
(Gain) Loss From Sale Of Asset	-	6.21K	-	-	-
Asset Writedown & Restructuring Costs	-	-	48.61K	7.94K	-
Stock-Based Compensation (CF)	738K	152K	234K	417K	810K
Other Operating Activities, Total	-1	112K	13.24K	51.3K	20
Change In Accounts Receivable	-	-	-12.05K	-16.13K	-81.98K
Change In Inventories	168	-610	-	-56.5K	17.65K
Change In Accounts Payable	-81.88K	-192K	71.08K	1.03M	-131K
Change in Unearned Revenues	-	-	-	-	96.77K
Change in Other Net Operating Assets	-261K	-50.65K	51.12K	-33.88K	-72.03K
Cash from Operations	-1.65M	-1.72M	-991K	-302K	-2.89M
Capital Expenditure	-432K	-283K	-175K	-166K	-270K
Sale of Property, Plant, and Equipment	-	8.76K	-	-	-
Cash Acquisitions	-	-	-	-	-
Other Investing Activities, Total	1	-	-	-	-
Cash from Investing	-432K	-274K	-175K	-166K	-270K
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-18.85K	-16.56K	-	-	-
Total Debt Repaid	-18.85K	-16.56K	-	-	-
Issuance of Common Stock	3.09M	1.29M	1.2M	494K	3.35M
Other Financing Activities, Total	-176K	-59K	-63.45K	138K	-81.23K
Cash from Financing	2.9M	1.21M	1.14M	632K	3.26M
Net Change in Cash	810K	-781K	-29.48K	163K	101K
Supplemental Items
Levered Free Cash Flow	-1.05M	-1.19M	-584K	604K	-1.67M
Unlevered Free Cash Flow	-1.05M	-1.19M	-584K	604K	-1.67M
Change In Net Working Capital	128K	64.52K	-119K	-1.3M	402K
Net Debt Issued / Repaid	-18.85K	-16.56K	-	-	-

Fiscal Period: November	2021 (CAD)	2022 (CAD)	2023 (CAD)	2024 (CAD)	2025 (CAD)
Profitability
Return on Assets	-64.23	-43.03	-35.9	-39.76	-63.41
Return on Total Capital	-97.81	-58.35	-51.55	-95.53	-201.04
Return On Equity %	-185.44	-104.07	-96.5	-181.07	-415.01
Return on Common Equity	-185.44	-104.07	-96.5	-181.07	-415.01
Margin Analysis
Gross Profit Margin %	-	-	-	-	0
SG&A Margin	-	-	-	-	17.82K
EBITDA Margin %	-	-	-	-	-24.75K
EBITA Margin %	-	-	-	-	-24.76K
EBIT Margin %	-	-	-	-	-24.76K
Income From Continuing Operations Margin %	-	-	-	-	-30.23K
Net Income Margin %	-	-	-	-	-30.23K
Net Avail. For Common Margin %	-	-	-	-	-30.23K
Normalized Net Income Margin	-	-	-	-	-18.89K
Levered Free Cash Flow Margin	-	-	-	-	-14.28K
Unlevered Free Cash Flow Margin	-	-	-	-	-14.28K
Asset Turnover
Asset Turnover	-	-	-	-	0
Fixed Assets Turnover	-	-	-	-	0
Inventory Turnover (Average Inventory)	-	-	-	-	0.2
Short Term Liquidity
Current Ratio	1.43	0.27	0.13	0.17	0.33
Quick Ratio	1.39	0.1	0.06	0.11	0.22
Operating Cash Flow to Current Liabilities	-2.66	-2.91	-1.47	-0.14	-1.6
Days Outstanding Inventory (Average Inventory)	-	-	-	-	1.81K
Average Days Payable Outstanding	-	-	-	-	-52.95K
Long Term Solvency
Total Debt/Equity	2.21	1.74	2.79	12.54	3.19
Total Debt / Total Capital	2.16	1.71	2.71	11.14	3.09
LT Debt/Equity	1.34	1.74	2.79	8.89	3.19
Long-Term Debt / Total Capital	1.31	1.71	2.71	7.9	3.09
Total Liabilities / Total Assets	25.74	30.11	33.64	82.68	59.67
EBIT / Interest Expense	-	-	-	-	-
Total Debt / EBITDA	-0.02	-0.02	-0.03	-0.04	-0.01
Net Debt / EBITDA	0.39	0.01	-0.03	0.07	0.08
Total Debt / (EBITDA - Capex)	-0.02	-0.01	-0.03	-0.03	-0.01
Net Debt / (EBITDA - Capex)	0.32	0.01	-0.02	0.07	0.07
Growth Over Prior Year
Gross Profit, 1 Yr. Growth %	-	-	-	-	-
EBITDA, 1 Yr. Growth %	100.29	-18.83	-23.49	23.94	91.1
EBITA, 1 Yr. Growth %	73.46	-18.7	-23.79	23.85	90.98
EBIT, 1 Yr. Growth %	73.46	-18.7	-23.79	23.85	90.98
Earnings From Cont. Operations, 1 Yr. Growth %	80.04	-14.51	-20.21	21.99	106.92
Net Income, 1 Yr. Growth %	80.04	-14.51	-20.21	21.99	106.92
Normalized Net Income, 1 Yr. Growth %	80.04	-14.6	-23.15	26.21	107.88
Diluted EPS Before Extra, 1 Yr. Growth %	34.12	-24.93	-34.07	15.68	71.91
Inventory, 1 Yr. Growth %	-1.7	6.28	0	547.33	-26.42
Net Property, Plant and Equip., 1 Yr. Growth %	34.79	15.53	7.11	7.99	12.08
Total Assets, 1 Yr. Growth %	101.29	-18.37	3.26	20.09	19.5
Tangible Book Value, 1 Yr. Growth %	522.25	-23.17	-1.97	-68.66	178.35
Common Equity, 1 Yr. Growth %	522.25	-23.17	-1.97	-68.66	178.35
Cash From Operations, 1 Yr. Growth %	507.76	4.27	-42.33	-69.5	856.96
Capital Expenditures, 1 Yr. Growth %	166.82	-35.42	-38.24	-5.02	62.71
Levered Free Cash Flow, 1 Yr. Growth %	-4.96K	12.9	-50.94	-203.39	-376.53
Unlevered Free Cash Flow, 1 Yr. Growth %	-4.96K	12.9	-50.94	-203.39	-376.53
Compound Annual Growth Rate Over Two Years
EBITDA, 2 Yr. CAGR %	92.81	27.31	-21.19	-2.62	53.9
EBITA, 2 Yr. CAGR %	92.53	18.75	-21.29	-2.85	53.79
EBIT, 2 Yr. CAGR %	92.53	18.75	-21.29	-2.85	53.79
Earnings From Cont. Operations, 2 Yr. CAGR %	92.73	24.07	-17.41	-1.34	58.88
Net Income, 2 Yr. CAGR %	92.73	24.07	-17.41	-1.34	58.88
Normalized Net Income, 2 Yr. CAGR %	92.73	24	-18.99	-1.51	61.98
Diluted EPS Before Extra, 2 Yr. CAGR %	50.25	0.34	-29.65	-12.67	41.02
Inventory, 2 Yr. CAGR %	-2	2.21	3.09	154.43	118.25
Net Property, Plant and Equip., 2 Yr. CAGR %	18	24.79	11.24	7.55	10.02
Total Assets, 2 Yr. CAGR %	26.39	28.19	-8.19	11.36	19.8
Tangible Book Value, 2 Yr. CAGR %	58.99	118.65	-13.21	-44.57	-6.6
Common Equity, 2 Yr. CAGR %	58.99	118.65	-13.21	-44.57	-6.6
Cash From Operations, 2 Yr. CAGR %	61.05	151.29	-22.45	-58.06	70.83
Capital Expenditures, 2 Yr. CAGR %	56.97	32.18	-36.85	-23.41	24.32
Levered Free Cash Flow, 2 Yr. CAGR %	16.72	640.82	-25.57	-28.78	69.09
Unlevered Free Cash Flow, 2 Yr. CAGR %	16.72	640.82	-25.57	-28.78	69.09
Compound Annual Growth Rate Over Three Years
EBITDA, 3 Yr. CAGR %	-	44.36	7.44	-8.35	21.92
EBITA, 3 Yr. CAGR %	32.65	44.44	2.43	-8.45	21.7
EBIT, 3 Yr. CAGR %	32.65	44.44	2.43	-8.45	21.7
Earnings From Cont. Operations, 3 Yr. CAGR %	54.54	46.99	7.09	-5.94	26.29
Net Income, 3 Yr. CAGR %	54.54	46.99	7.09	-5.94	26.29
Normalized Net Income, 3 Yr. CAGR %	34.71	46.93	5.72	-6.08	26.34
Diluted EPS Before Extra, 3 Yr. CAGR %	22.82	19.22	-12.77	-16.97	9.45
Inventory, 3 Yr. CAGR %	-	0.68	1.47	90.19	68.26
Net Property, Plant and Equip., 3 Yr. CAGR %	17.64	17.17	18.59	10.15	9.04
Total Assets, 3 Yr. CAGR %	26.55	9.25	19.27	0.41	14.01
Tangible Book Value, 3 Yr. CAGR %	54.62	24.77	67.35	-38.2	-5.08
Common Equity, 3 Yr. CAGR %	54.62	24.77	67.35	-38.2	-5.08
Cash From Operations, 3 Yr. CAGR %	49.97	39.16	53.85	-43.19	18.95
Capital Expenditures, 3 Yr. CAGR %	9.68	17.28	2.57	-27.64	-1.54
Levered Free Cash Flow, 3 Yr. CAGR %	27.16	15.43	199.73	-16.95	11.94
Unlevered Free Cash Flow, 3 Yr. CAGR %	27.16	15.43	199.73	-16.95	11.94
Compound Annual Growth Rate Over Five Years
EBITDA, 5 Yr. CAGR %	-	-	-	23.33	24.05
EBITA, 5 Yr. CAGR %	23.11	21.15	7.66	23.25	20.51
EBIT, 5 Yr. CAGR %	23.11	21.15	7.66	23.25	20.51
Earnings From Cont. Operations, 5 Yr. CAGR %	24.23	21.2	20.28	25.32	25.4
Net Income, 5 Yr. CAGR %	24.23	21.2	20.28	25.32	25.4
Normalized Net Income, 5 Yr. CAGR %	24.23	23.28	9.92	25.2	25.4
Diluted EPS Before Extra, 5 Yr. CAGR %	-2.59	-2.47	-1.72	5.26	5.71
Inventory, 5 Yr. CAGR %	-	-	-	45.88	37.84
Net Property, Plant and Equip., 5 Yr. CAGR %	54.23	20.31	15.04	13.22	15.09
Total Assets, 5 Yr. CAGR %	63.14	19.22	11.31	10.09	19.48
Tangible Book Value, 5 Yr. CAGR %	44.41	75	22.73	-9.81	32.53
Common Equity, 5 Yr. CAGR %	44.41	75	22.73	-9.81	32.53
Cash From Operations, 5 Yr. CAGR %	57.88	22.45	15.11	-13.87	60.43
Capital Expenditures, 5 Yr. CAGR %	21.43	-11.9	-11.81	-1.1	10.77
Levered Free Cash Flow, 5 Yr. CAGR %	29.99	10.65	2.64	-4.84	138.39
Unlevered Free Cash Flow, 5 Yr. CAGR %	30.02	10.65	2.64	-4.84	138.39