Vext Science has EBITDA of $2.31M (U.S.) in Q3 2025

Executive Summary

• Vext Science Inc. reported its Q3 2025 financial results, highlighting a 41% year-over-year increase in revenue and strong operational cash flow.
• The company achieved $12.7 million in revenue for the quarter and generated $8.5 million in year-to-date operating cash flow.
• Management cited Ohio as a primary growth engine due to expanded retail footprint and higher-margin channels, while Arizona operations outperformed state averages despite broader market declines.

Key Details

• Q3 2025 Revenue: $12.7 million, representing a 41% increase year-over-year.
• Operating Cash Flow: Year-to-date operating cash flow reached $8.5 million.
• Geographic Performance:
  • Ohio: Identified as a growth engine driven by an expanded retail footprint and a higher-margin channel mix.
  • Arizona: Operations outperformed state averages on a per-store basis, maintaining steady performance despite a broader market decline.
• Future Outlook & Strategy:
  • Focus remains on maximizing performance across five existing Ohio dispensaries.
  • Construction and licensing are advancing for three additional locations planned for 2026.
  • Q4 cash flow is expected to improve as the company works through inventory built up in Q3.
• Recent Corporate Activity:
  • On Sept. 17, 2025, Vext received regulatory approval from the Ohio Department of Commerce to transfer ownership of the Herbal Wellness Center dispensary in Portsmouth, Ohio.
  • The closing and associated title transfers for the Portsmouth dispensary were completed on Oct. 1, 2025.
• Conference Call Details:
  • Date: Thursday, Nov. 20, 2025
  • Time: 8 a.m. ET
  • Dial-in: 1-647-849-3159 or 1-833-752-3966
  • Replay: 1-412-317-0088 or 1-555-669-9658 (Playback No.: 4318941, expires Dec. 4, 2025)

Notable Quotes

• "Vext delivered another solid quarter, with revenue of $12.7-million, up 41 per cent year over year, and year-to-date operating cash flow of $8.5-million," said Eric Offenberger, chief executive officer of Vext.
• "Even with mixed market dynamics during the quarter, our operational discipline remained evident. Ohio continued to be a growth engine for Vext, with our expanded retail footprint and higher-margin channel mix contributing to meaningful year-over-year gains."
• "For the remainder of 2025, we expect continued operational momentum and remain focused on maximizing performance across our five Ohio dispensaries, while advancing construction and licensing of the three additional locations planned for 2026."