GLG Life Tech Corporation Reports 2025 Third Quarter Financial Results

Executive Summary

• GLG Life Tech reported Q3 2025 revenue of $2.1 M, down 36% YoY, and a net loss of $5.2 M from continuing operations.
• For the nine months ended September 30 2025, revenue fell 22% to $8.2 M, but net income surged to $15.4 M (up $26.9 M YoY) driven by the final disposition of the former Runhai subsidiary.
• The company disclosed ongoing cash‑flow constraints and a heightened risk of insolvency without additional financing, while noting that its cease‑trade order has been lifted and it is preparing to resume trading on the NEX exchange.

Key Details

• Revenue: Q3 2025 – $2.144 M (‑36% YoY); 9‑month total – $8.173 M (‑22% YoY).
• Cost of Sales: Q3 2025 – $1.827 M (‑34% YoY); 9‑month total – $6.974 M (‑19% YoY).
• Gross Profit: Q3 2025 – $0.316 M (‑48% YoY); 9‑month total – $1.199 M (‑38% YoY).
• SG&A Expenses: Q3 2025 – $0.299 M (‑23% YoY); 9‑month total – $0.916 M (‑34% YoY).
• Net Loss (Continuing Ops): Q3 2025 – $(5.166) M (‑47% vs. prior year loss of $(3.521) M).
• Net Income (Continuing Ops, 9 mo): $15.362 M (up 233% YoY); includes $27 M other income from the Runhai asset disposition.
• Earnings per Share: Q3 loss $0.13 vs. $0.09 loss prior year; 9‑month profit $0.40 vs. $‑0.30 loss prior year.
• AGM Results (May 22 2025): All five directors re‑elected with >99% support; Mr. David Bishop added as fifth director on March 27 2025.
• Runhai Facility Transfer: Approved by shareholders (>99.99% in favor); transferred for a nominal amount to Xiaogang, improving balance sheet and reducing exposure to Chinese regulatory risk.
• Going‑Concern Warning: Management highlighted insufficient cash without further financing; noted positive EBITDA trends but significant interest accruals.
• Regulatory Status: Cease‑trade order (FFCTO) lifted in May 2025; company preparing submission to NEX exchange to resume trading after delisting from TSX on 3 Sept 2024.
• Liquidity Actions: Ongoing negotiations for third‑party revolving loan facilities to replace prior related‑party financing.

Notable Quotes

(No direct quotes were provided in the release.)