MustGrow Announces Record Q2-2025 Results: $2.8 Million Revenue and 20.9% Gross Profit Margin for the Quarter

Executive Summary

• MustGrow Biologics Corp. reported operating and financial results for the three months ended June 30, 2025, marking a significant shift from zero revenue in the prior year period to $2.8 million in sales revenue.
• The company achieved a gross profit of $594,718 with a 20.9% gross profit margin, an improvement from 14.3% in Q1 2025, driven largely by U.S. sales of its TerraSante™ biofertility product.
• The company reported a net loss of $1.1 million for the quarter, with cash and equivalents on hand totaling $1.8 million as of June 30, 2025.

Key Details

• Revenue: $2.8 million in Q2 2025, compared to no revenue in Q2 2024.
• U.S. Sales Specifics: Included $312,832 from sales of TerraSante™ biofertility product in the U.S.
• Gross Profit: $594,718 in Q2 2025.
• Gross Margin: 20.9% in Q2 2025, up from 14.3% in Q1 2025.
• Net Loss: $1.1 million for the three months ended June 30, 2025.
• Net Loss Per Share: $0.02 (basic) for the same period.
• Balance Sheet: Cash and equivalents of $1.8 million and inventory of $1.8 million as at June 30, 2025.
• Operational Update: TerraSante™ inventory in the U.S. sold out during Q2, representing triple the sales of all of 2024. The company is ramping up production to meet growing demand.
• Regional Context: Canadian sales (NexusBioAg) are in the slower 'shoulder season' (Q2/Q3), with Q1 and Q4 traditionally being stronger periods. Margins in the Canadian segment improved from Q1.

Notable Quotes

• "Our second quarter 2025 showed a gross profit margin improvement over the first quarter end March 31, 2025 resulting from sales of TerraSanteTM biofertility product in the U.S.," stated Corey Giasson, President and CEO of MustGrow. "We sold out of our TerraSanteTM inventory in the U.S. during this second quarter, which was triple our TerraSanteTM sales in all of 2024. The TerraSanteTM initial sales ramp-up has started and we are working on producing more product to meet the growing demand. For our Canadian sales and distribution division, NexusBioAg, Q2 and Q3 are considered the slower 'shoulder season' whereas Q1 and Q4 are traditionally stronger sales periods for Canadian farmers purchasing crop inputs. Margins in this segment have picked up from the first quarter and we are looking to finish the year with a strong Q4."