Red Light Holland Reports 2025 Audited Year-End Results - Demonstrates Continued Fiscal Discipline, Strategic Growth, and Psilocybin R&D Expansion

Executive Summary

• Red Light Holland Corp. released its Audited Annual Consolidated Financial Statements and MD&A for fiscal years ended March 31, 2025, and 2024, reporting a modest increase in revenue but a significant reduction in EBITDA losses.
• The company highlighted strategic operational wins, including re-orders from Costco Canada, entry into the U.S. retail market via Albertsons, and the launch of Health Canada-approved functional mushroom gummies.
• Key strategic shifts include a $2M Bitcoin balance sheet strategy, the first global shipment of psilocybin to a U.S. partner lab, and the sale of the Oss retail location to streamline Dutch operations.

Key Details

• Financial Performance (FY 2025 vs FY 2024):
  • Revenue: $4.944M (up $0.192M or +4.05% from $4.752M).
  • Gross Profit: $1.913M (down $0.107M or -5.31% from $2.020M).
  • EBITDA Loss: $3.354M (improved by $3.228M or -49.04% from $6.582M).
  • Adjusted EBITDA Loss: $2.532M (improved by $0.779M or -23.54% from $3.311M).
  • Total Cash Balance: $12.838M (down from $14.372M).
  • Total Assets: $21.221M (down from $24.084M).
• Strategic Initiatives & Partnerships:
  • Bitcoin Strategy: Allocated up to $2M in Bitcoin-related assets, led by crypto analyst Scott Melker, to mitigate institutional debanking risks.
  • U.S. Expansion: Entry into the U.S. retail market via Albertsons (Safeway banner) for Happy Caps Mushroom Home Grow Kits.
  • Costco Partnership: Happy Caps products reordered and distributed in over 60 Costco Canada locations.
  • Product Launch: Health Canada-approved Functional Mushroom Gummies (NPN #80137179) launched on Amazon and HappyCaps.ca.
  • Psilocybin R&D: Received U.S. Controlled Substances Import Permit in May 2025; successfully shipped naturally occurring psilocybin from the Horst facility (Europe) to FDA-Compliant/DEA-Registered Irvine Labs in California for microdosing capsule development.
  • Scientific Advisory: Appointed Dr. Robin Carhart-Harris as Scientific Advisor; collaborating with Arizona State University on the Psychedelic Genome Project.
• Operational Updates:
  • AEM New Brunswick: Experienced temporary shiitake production decline but showed recovery with rising weekly sales.
  • AEM Ontario (Peterborough): Construction halted due to RBC debanking over reputation concerns; company exploring sale of land, plans, and permits to consolidate capital.
  • Dutch Operations: Sold Oss retail location for €25,000; launched dedicated e-commerce platform www.MushRoomandMore.nl for DTC sales in the Netherlands.
  • Cash-Positive Subsidiaries: Nearly all operating subsidiaries were cash-positive in FY 2025, excluding non-cash and corporate costs. SR Wholesale and the Horst facility remained cash-positive.
• Upcoming Events:
  • Live Q&A session scheduled for July 30, 2025, at 11:00 AM EST.

Notable Quotes

• Todd Shapiro, CEO: "The entire team at Red Light Holland is proud of our 2025 audited year-end results as we continue to grow revenues and reduce our EBITDA loss... While revenue growth was modest, this was a deliberate outcome of phasing out unprofitable sales channels following a comprehensive review."
• Todd Shapiro, CEO: "I'm especially proud of our momentum in psilocybin R&D; including our groundbreaking and precedent setting milestone as Red Light Holland's first global shipment, via USA Controlled Substances import permit, of naturally occurring Psilocybin from our facility in Europe was successfully delivered to the Company's Partner FDA-Compliant and DEA-Registered Irvine Labs in California."
• Todd Shapiro, CEO: "After experiencing institutional debanking in Canada, the Company is exploring Bitcoin as a financial infrastructure alternative for operational flexibility."