MustGrow Announces Record Q3-2025 Results

Executive Summary

• MustGrow Biologics reported Q3‑2025 sales of $0.8 M, up from zero in the same quarter last year, with a gross profit of $180,555 and a 22.9% gross margin.
• Cash and cash equivalents stood at $3.3 M as of September 30 2025, alongside inventory of $1.9 M.
• Management highlighted improved margins from higher‑margin product sales through NexusBioAg and expressed confidence in stronger Q4‑2025 and Q1‑2026 performance.

Key Details

• Revenue: $0.8 million for the three months ended September 30 2025 (vs. $0 in Q3‑2024).
• Gross Profit: $180,555, representing a 22.9% gross profit margin (up from 20.9% in Q2‑2025).
• Cash Position: $3.3 million cash and cash equivalents on hand at quarter end.
• Inventory: $1.9 million recorded as of September 30 2025.
• Margin Commentary: Gross margin improvement attributed to higher‑margin product sales via the Canadian NexusBioAg distribution channel.
• Seasonality Note: Q3 is traditionally a low‑revenue “shoulder season” for Canadian agriculture; stronger sales are expected in Q4 and Q1‑2026 as farmers prepare for the next growing season.
• Strategic Focus: Continued capital allocation toward revenue growth of NexusBioAg (Canadian distribution) and TerraSante™ biofertility products (U.S. market).

Notable Quotes

“The third calendar quarter is typically the lowest product revenue ‘shoulder season’ for Canadian agriculture… We are looking forward to a strong finish to the year in Q4 and also Q1‑2026 as farmers purchase products in preparation for the 2026 growing season.” – Corey Giasson, President & CEO

Materiality Assessment: Material – Positive (earnings release with revenue generation and positive margin trend).