Ovation Science (OVAT) AI Stock Analysis

3 Followers

Ovation Science

(CNQX:OVAT)

Select Model

Rating:46Neutral

Price Target:CAD 0.02▲(0.00% Upside)

Action:reiterated

Date:11/03/26

The score is primarily held down by very weak financial performance (ongoing losses, negative gross profit in the latest period, negative free cash flow, and negative equity indicating elevated solvency/dilution risk). Technical indicators show only modest improvement in momentum, but the stock remains below key moving averages. Valuation is constrained by unprofitability (negative P/E) and the absence of a dividend yield.

Positive Factors

Focused topical-product modelA focused product model gives the company a clear commercial direction in topical personal care and skin health. Concentrating resources on a defined application area can support disciplined product development and brand positioning over the next several quarters.

Negative Factors

Persistent unprofitabilityPersistent losses and a return to negative gross profit indicate that the current business model has not established stable unit economics. Without sustained gross margins, revenue growth is less likely to convert into earnings and the company may struggle to fund development internally.

Ovation Science (OVAT) vs. iShares MSCI Canada ETF (EWC)

Market Cap: CAD 288.31K
Dividend Yield: ―
Average Volume (3M): 10.83K
Price to Earnings (P/E): -1.1
Beta (1Y): 1.09
Revenue Growth: -11.38%
EPS Growth: -35.88%
Country: Canada
Employees: 5
Sector: Healthcare
Sector Strength: 51
Industry: Drug Manufacturers - Specialty & Generic

Ovation Science Business Overview & Revenue Model

Company Description

Ovation Science Inc. specializes in the creation of cannabis and hemp-based products, distributed across Canada, the United States, and Mexico. A cornerstone of its offerings is Invisicare, a patented drug delivery technology employed in topical and...

Ovation Science Financial Statement Overview

Summary

Financial performance is very weak: persistent net losses and negative operating results across all periods, volatile revenue with a decline in the latest TTM, and gross profit turning negative again. The balance sheet is highly stressed with negative stockholders’ equity (about -$1.79M TTM), elevating solvency and dilution/recapitalization risk. Cash flow remains negative (TTM FCF roughly -$138K), though burn has improved versus prior years.

Income Statement

12Very Negative

Balance Sheet

8Very Negative

Cash Flow

18Very Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	57.34K	67.89K	113.22K	61.93K	138.15K	224.95K
Gross Profit	-170.25K	-312.45K	85.72K	-251.43K	134.11K	-168.75K
EBITDA	-625.02K	-598.18K	-404.15K	-778.83K	-786.73K	-2.39M
Net Income	-655.91K	-631.25K	-456.20K	-813.15K	-794.05K	-2.39M
Balance Sheet
Total Assets	25.71K	82.82K	63.90K	76.89K	104.89K	769.90K
Cash, Cash Equivalents and Short-Term Investments	13.22K	72.29K	3,312	48.85K	28.90K	647.56K
Total Debt	292.14K	283.06K	268.48K	192.62K	41.13K	0
Total Liabilities	1.82M	1.54M	1.15M	728.99K	187.84K	63.74K
Stockholders Equity	-1.79M	-1.46M	-1.09M	-652.10K	-82.95K	706.15K
Cash Flow
Free Cash Flow	-138.12K	-76.44K	-178.82K	-336.02K	-670.80K	-885.75K
Operating Cash Flow	-138.13K	-76.44K	-178.82K	-336.02K	-670.80K	-885.75K
Investing Cash Flow	0	0	0	0	0	1.16M
Financing Cash Flow	146.48K	146.48K	133.28K	356.16K	47.24K	0

Ovation Science Technical Analysis

Technical Analysis SentimentNegative

Last Price0.02

Price Trends

50DMA0.03Negative

100DMA0.03Negative

200DMA0.03Negative

Market Momentum

MACD-0.00Positive

RSI11.12Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:OVAT, the sentiment is Negative. The current price of 0.02 is below the 20-day moving average (MA) of 0.03, below the 50-day MA of 0.03, and below the 200-day MA of 0.03, indicating a bearish trend. The MACD of -0.00 indicates Positive momentum. The RSI at 11.12 is Positive, neither overbought nor oversold. The STOCH value of is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:OVAT.

Ovation Science Peers Comparison

Overall Rating

UnderperformOutperform

Sector (51)

Financial Indicators

TSE:OVAT against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TSE:LABS	53Neutral	CAD 25.63M	-5.60	-13.79%	―	-6.74%	43.54%
Sector *	51Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
TSE:VEXT	46Neutral	CAD 54.50M	-1.97	-31.34%	―	9.88%	0.18%
TSE:OVAT	46Neutral	CAD 768.83K	-1.13	41.93%	―	-11.38%	-35.88%
TSE:OILS	43Neutral	CAD 3.40M	-1.75	-43.92%	―	-18.30%	-397.37%
TSE:ATLE	42Neutral	CAD 45.69M	-0.76	-2099.75%	―	-100.00%	94.43%
TSE:BNXT	39Underperform	CAD 38.79M	-3.79	117.02%	―	―	―

* Healthcare Sector Average

Performance Comparison

TSE:OVAT and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TSE:OVAT	Ovation Science	0.02	-0.02	-50.00%
TSE:ATLE	Willow Biosciences	0.10	-0.07	-41.18%
TSE:LABS	Medipharm Labs (Otc)	0.07	-0.01	-7.14%
TSE:OILS	Nextleaf Solutions	0.02	-0.04	-63.64%
TSE:VEXT	Vext Science	0.22	-0.03	-12.00%
TSE:BNXT	Bionxt Solutions Inc	0.28	-0.49	-62.99%

Ovation Science Corporate Events

Business Operations and StrategyExecutive/Board Changes

Ovation Science Mourns Death of Key Executive and Board Member

Negative

Sep 17, 2026

Ovation Science Inc. announced the death of board member and senior executive Doreen McMorran, who had served as Vice-President since 2017, Chief Operating Officer since 2018 and Chief Financial Officer since 2023. The company described McMorran as i...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 03, 2026

Ovation Science AI Stock Analysis