MTL Cannabis earns $6.82-million in fiscal 2025

Executive Summary

• MTL Cannabis Corp. reported record full-year financial results for the fiscal year ending March 31, 2025, driven by significant growth in revenue, profitability, and cash flow.
• The company achieved $105.2 million in revenue, a 27% increase year-over-year, alongside a 135% increase in EBITDA to $21.7 million.
• Net income surged 179% to $6.8 million, and the company transitioned from an accumulated deficit to retained earnings of $5.7 million, while generating $18.2 million in cash flow from operations.

Key Details

• Revenue: $105,239,109, an increase of $22,175,221 (27%) compared to $83,063,888 in the prior year.
• Gross Margin: 55% before fair value adjustments, an increase of 9 percentage points from 46% in the prior year.
• Operating Income: $16,051,858, an increase of $11,439,188 (248%) compared to $4,612,670 in the prior year.
• Net Income: $6,826,256, an increase of $4,376,733 (179%) compared to $2,449,523 in the prior year.
• EBITDA: $21,722,218, an increase of $12,495,154 (135%) compared to $9,227,064 in the prior year.
• Adjusted EBITDA: $20,266,508, an increase of $7,622,341 (60%) compared to $12,644,167 in the prior year.
• Cash Flow from Operations: Net cash inflows of $18,230,108, an increase of $4,499,228 (32%) compared to $13,780,880 in the prior year.
• Investing Activities: Net cash used of ($5,484,584), an increase in usage of ($3,273,646) compared to ($2,210,938) in the prior year.
• Financing Activities: Net cash used of ($8,416,701), a decrease in usage of $2,238,657 compared to ($10,655,358) in the prior year.
• Net Cash Increase: Overall net cash increased to $5,680,958, a 320% increase from $1,352,135 at the beginning of the fiscal year.
• Retained Earnings: Demonstrated retained earnings of $5,705,091, a significant turnaround from an accumulated deficit of ($614,165) in the prior year (an increase of $6,319,256 or 1,029%).

Notable Quotes

• Michael Perron, CEO: "We've entered a new era at MTL as we move from building the foundation to achieving record-breaking results... This achievement reflects the dedication of our people, the strength of our disciplined operating model and our team's ability to execute at a high level."
• Richard Clement, Chair of the Board: "I am extremely proud of our team for their focus, determination and the incredible efforts to help build the company to what it is today. We look forward to continuing to deliver strong results for our customers, patients and shareholders."