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Nutriband Inc

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What Do They Do?

Develops transdermal pharmaceutical products, including abuse-deterrent patches. Through its subsidiaries, provides contract manufacturing to health, wellness and over-the-counter pharmaceutical customers and contract research and development to pharmaceutical and medical-device customers.

How Do They Make Money?

Revenue comes from sales of manufactured goods, with sales counted when products are transferred to customers; its subsidiaries also provide contract manufacturing and contract research and development services.

FY2026 revenue

Who Are Their Customers?

Brands use the subsidiaries for manufacturing, while pharmaceutical and medical-device companies use them for research and development work.

Do Revenues Turn Into Profits?

No. It lost $8.2M in FY2026.

Operating income, FY2026
−408% of revenue
▼ −19% (Loss) vs FY2025 (−$10.3M, −481%)
Net income, FY2026
−404% of revenue
▼ −21% (Loss) vs FY2025 (−$10.5M, −490%)
Free cash flow, FY2026
−252% of revenue
▲ +9% (Loss) vs FY2025 (−$4.7M, −221%)

How Are They Changing?

Since the FY2026 annual report
Latest quarter: Q2 FY2027, the three months to Jul 31, 2026
Revenue
▼ −30%
vs $622.5K in Q2 FY2026
Net income
▼ −56% (Loss)
vs −$2M in Q2 FY2026

Growing. Revenue grew 43% in 4 years, from $1.4M in FY2022 to $2M in FY2026, about 9% a year.

Kindeva development arrangement The Kindeva arrangement moved from testing whether AVERSA technology could fit its manufacturing process to commercial development and clinical supply, with shared development costs exchanged for milestone payments.

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