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GOLD 4186.90 +0.4% SILVER 57.40 +0.4% COPPER 6.59 +0.5% OIL 96.85 −1.1% PALLADIUM 1120.25 −0.7% MON 0.385 −6.1% OMI 0.255 +2.0% BUFF 0.800 +2.6% FEO 0.670 +3.1% LIB 0.700 −2.8% NPR 0.640 +3.2% QZM 0.380 +0.0% BVA 0.750 −1.3% ONAU 0.530 +1.9% FMR 0.225 +0.0% GSVR 0.350 +2.9% PHNM 0.345 +1.5% SLG 5.63 −1.4% CASA 0.065 +8.3% DRY 0.220 +2.3% SOMA 0.580 +3.6% GOLD 4186.90 +0.4% SILVER 57.40 +0.4% COPPER 6.59 +0.5% OIL 96.85 −1.1% PALLADIUM 1120.25 −0.7% MON 0.385 −6.1% OMI 0.255 +2.0% BUFF 0.800 +2.6% FEO 0.670 +3.1% LIB 0.700 −2.8% NPR 0.640 +3.2% QZM 0.380 +0.0% BVA 0.750 −1.3% ONAU 0.530 +1.9% FMR 0.225 +0.0% GSVR 0.350 +2.9% PHNM 0.345 +1.5% SLG 5.63 −1.4% CASA 0.065 +8.3% DRY 0.220 +2.3% SOMA 0.580 +3.6%
Earnings

MTL Cannabis Corp. Reports Second Quarter Results with $25.4 Million of Revenue, Strong Gross Margins, and Strengthened Balance Sheet

By The Northwire Desk — AI Analysis Nov 28, 2025 · 08:30 MTLC · 0.475 MTL Cannabis Corp.
MTLC · Price

Executive Summary

  • MTL Cannabis Corp. reported Q2 FY2026 revenue of $25.37 M (down ~4% YoY) and Adjusted EBITDA of $2.22 M, maintaining positive cash‑generating performance.
  • The company disclosed a new credit agreement dated July 30 2025 providing up to $26.02 M of revolving and term facilities to fund capital expenditures, working capital, and debt refinancing.
  • Management highlighted operational improvements—including the transition of medical fulfillment to Montreal and ongoing cultivation technology investments—aimed at enhancing margins and long‑term balance‑sheet strength.

Key Details

  • Financial Highlights (Q2 FY2026):
  • Revenue: $25,365,570 vs. $26,434,502 in Q2 FY2025.
  • Net revenue: $20,613,664 vs. $20,869,898 YoY.
  • Gross margin before fair‑value adjustments: 50% (7 ppt increase QoQ; 4 ppt decrease YoY).
  • Adjusted EBITDA: $2,223,919 (down from $5,091,902 FY2025).

  • Net loss: $(8,322,063) vs. net income of $1,245,778 FY2025.

  • Non‑IFRS Measures:

  • EBITDA: $872,713 (FY2026) vs. $5,482,777 (FY2025).

  • Adjusted EBITDA excludes share‑based compensation, fair‑value adjustments on biological assets and inventory.

  • Credit Agreement Summary (effective July 30 2025):

  • Uncommitted revolving credit facility: up to $4,000,000.
  • Committed non‑revolving term facilities: $6,750,000 (single draw) and $12,150,000 (single draw).
  • Uncommitted delayed‑draw term facility: up to $4,120,000 (multiple draws possible).
  • Total available credit: $26.02 M; maturity July 28 2028.
  • Interest rate: Canadian Overnight Repo Rate Average (CORRA) + margin or Canadian prime + margin.

  • Security: first‑ranking mortgage on all present and after‑acquired assets plus the property at 551 Rue Saint‑Marc, Louiseville, QC.

  • Management Commentary (CEO Michael Perron):

  • Emphasized stable revenue, strong margins, and continued positive Adjusted EBITDA.
  • Noted supply‑chain realignment, successful transition of medical fulfillment to Montreal, and ongoing cultivation technology investments.

  • Highlighted balance‑sheet improvement through legacy debt reduction and the new credit facilities.

  • Operational Updates:

  • Continued integration of internal capacity enhancements across cultivation sites in Québec (Pointe Claire, Louiseville) and medical distribution in Ontario.
  • Ongoing investments aimed at improving profitability and supporting future growth initiatives.

Notable Quotes

“We are incredibly proud of our continued progress as a business… the successful transition of our medical fulfillment operations from Pickering to Montreal… and continued investments into cultivation technologies… will have meaningful and positive contributions towards our future margins and profitability.” – Michael Perron, CEO

All forward‑looking statements are subject to risks and uncertainties detailed in the release.

Read the original news release →

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