MustGrow Announces 2025 Financial Results

• MustGrow Biologics Corp. reported audited financial results for fiscal year ended December 31, 2025.
• Sales revenue increased significantly to $8.3 million from $0.4 million in 2024.
• Net loss widened to $7.3 million compared to a loss of $4.9 million in 2024.
• Expenses rose to $7.7 million in 2025, primarily due to NexusBioAg Canadian sales division costs.
• TerraSante™ U.S. Sales reached $0.6 million in 2025, a 377% increase from $0.1 million in 2024.
• TerraSante™ Gross Margin is reported at 20%.
• Cash and Equivalents as of December 31, 2025, stood at $0.9 million.
• Inventory as of December 31, 2025, was $2.0 million.
• The company closed its NexusBioAg Canadian distribution division in April 2026 to reallocate resources toward U.S. TerraSante™ growth.
• Financing: Raised $2 million via a new equity issue in January 2026.

• Revenue validation confirms the strategic pivot and market demand for TerraSante™, validating the business model after near-zero sales in prior years.
• The revenue jump from $0.4M to $8.3M is substantial but was anticipated based on the December 2025 CEO letter which stated "Anticipated significant increase in sales".
• Net loss widening ($4.9M to $7.3M) indicates high cash burn relative to revenue growth, raising solvency concerns despite recent financing.
• Closing the NexusBioAg Canadian division is a strategic shift that may reduce near-term revenue stability given Q3 2025 showed higher margins via this channel.
• Cash position of $0.9 million at year-end was precarious; the January 2026 $2M financing provided temporary relief but inventory levels ($2.0M) exceed cash reserves, indicating capital tied up in stock rather than operations.
• The Georgia registration (April 28 news) is a positive operational milestone but does not offset the financial burn rate risks identified in the earnings release.

• MustGrow Biologics Corp. develops mustard-derived biocontrol products for agriculture.
• Flagship Product 1: TerraSante™ (Biofertility) - Organic OMRI Listed® wettable powder improving soil microbiome health; registered in CA, FL, AZ, ID, OR, WA, and GA.
• Flagship Product 2: TerraMG™ (Biopesticide) - Clubroot disease suppression for canola; field trials showed up to 95% reduction in resting spores and yield increases of 7 bushels/acre.
• Distribution Arm: NexusBioAg (Canadian distribution division, now closed as of April 2026).
• Manufacturing: Contract manufacturing in Asia scaling up for continuous output in 2026.