Herzliya, Israel – September 04, 2026 -- Innocan Pharma Corporation (CSE: INNO) (OTCQB: INNPF) reported second-quarter fiscal 2026 revenue of US$5.25 million (CAD 7.3 million), a 25.06% decline from US$7.01 million in the same period last year, as shifting U.S. customs and tariff policy under the Trump administration disrupted sales.
Gross margin holds above 90% despite revenue drop
Gross profit fell 23.0% to US$4.769 million, but gross margin remained elevated at 90.8% for the three months ended June 30, 2026, up from 88.4% a year earlier. The company attributed the resilience to its direct-to-consumer model and disciplined cost structure at consumer wellness subsidiary B.I. Sky Global Ltd., which it owns 60%.
Operating loss widens 228% as tariff volatility bites
Innocan swung to an operating loss of US$0.508 million, compared with an operating profit of US$0.396 million in the prior-year quarter -- a 228.3% deterioration. CEO Iris Bincovich said the fluctuating U.S. tariff environment created significant uncertainty that weighed on sales during the period.
Balance sheet holds US$6.4 million in cash against US$10.37 million in total assets
As of June 30, 2026, the company held approximately US$6.4 million in cash and cash equivalents against total assets of US$10.37 million, which it says provides a foundation to sustain operations and growth initiatives.
VALITIC skincare brand retains Amazon Best Seller badge
B.I. Sky's flagship VALITIC skincare brand continues to hold Amazon's "Best Seller" badge in its category, a designation based on hourly-updated sales volume rather than customer ratings, along with Amazon's Choice recognition.
B.I. Sky pushes beyond Amazon into retail and DTC channels
Roni Kamhi, CEO of B.I. Sky and COO of Innocan, said the company is expanding relationships with major U.S. retail and distribution networks and increasing presence across additional online platforms. B.I. Sky has also launched its own direct-to-consumer website, now operational, to build direct customer relationships and strengthen brand engagement independent of Amazon.