Business
Cannara Biotech Delivers Record Q2 Results as National Expansion Accelerates
Record Revenue: Net revenues of $26.6 million in Q2 2025, a 35% increase compared to $19.7 mill...
About this update from Cannara Biotech, Inc.
[{"type":"text","content":"Cannara Biotech Delivers Record Q2 Results as National Expansion Accelerates\n\n\n\n\n\n Record Revenue:\n \n Net revenues of $26.6 million in Q2 2025, a 35% increase compared to $19.7 million in Q2 2024, driven by national brand growth and product innovation.\n \n\n\n Record Profitability:\n \n Gross profit before fair value adjustments rose 52% to $10.8 million in Q2 2025 from $7.1 million in Q2 2024, with gross margins improving to 41%.\n \n\n\n Strong Adjusted EBITDA:\n \n Delivered sixteenth consecutive quarter of positive Adjusted EBITDA, more than doubling to a record $7.1 million, up 102% from Q2 2024\n \n 1\n \n .\n \n\n\n Expanding Market Presence:\n \n Increased national market share to 3.9% in Q2 2025, up 34.5% from same period of prior year, with notable share gains in Québec, Ontario, and Alberta\n \n 2\n \n .\n \n\n\n Strategic Execution on Track:\n \n Achieving Fiscal 2025 objective of activating two new grow zones, with the first brought online in April and the second scheduled for May, bringing total active grow zones to 12 and expanding active canopy by 50,000 sq. ft to over 300,000 sq. ft., supporting annual production capacity of up to 40,000 kg.\n \n\n\n\n All financial results are reported in Canadian dollars, unless otherwise stated.\n \n\n\n MONTREAL, April 28, 2025 (GLOBE NEWSWIRE) --\n \n Cannara Biotech Inc.\n \n (“\n \n Cannara\n \n ”, “the\n \n Company\n \n ”, “\n \n us\n \n ” or “\n \n we\n \n ”) (\n \n TSXV: LOVE\n \n ) (\n \n OTCQB: LOVFF\n \n ) (\n \n FRA: 8CB0\n \n ), a vertically integrated producer of premium-grade cannabis and derivative product offerings at affordable prices with two mega facilities based in Québec spanning over 1,650,000 sq. ft., today announced its financial and operating results for the three and six-month periods ended February 28, 2025.\n \n\n The full set of interim condensed consolidated financial statements for the three and six-month periods ended February 28, 2025, and the accompanying Management’s Discussion and Analysis can be accessed by visiting the Company’s website at\n \n investors.cannara.ca\n \n , or by accessing the Company’s SEDAR+ profile at\n \n www.sedarplus.ca\n \n .\n \n\n “Q2 2025 marks another record quarter for Cannara, driven by the continued national ...