Avicanna Reports Q3 2025

Executive Summary

• Avicanna reported Q3 2025 revenue of $6.40 M (three‑month) and $18.88 M (nine‑month), marking consecutive quarters of growth in Canada and a 6% increase internationally.
• Gross profit was $3.15 M (49% margin) for the quarter; margins were pressured by non‑recurring costs, a Canada Post strike, and one‑time adjustments.
• Adjusted EBITDA loss narrowed to $0.79 M for Q3 2025 versus a larger loss in the comparable period of 2024, indicating improving profitability trends.

Key Details

• Revenue: $6.40 M (Q3) and $18.88 M (nine‑month); Canadian revenue up 4%, international revenue up ~6% YoY.
• Gross Profit & Margin: $3.15 M gross profit; gross margin 49% for the quarter, down from 57% YoY due to non‑recurring items and strike impacts. Nine‑month margin improved slightly to 52% vs. 50% prior period.
• Adjusted EBITDA: Loss of $0.79 M for Q3 2025; nine‑month loss of $0.61 M, an improvement from the $0.72 M loss in the same period 2024.
• Canadian Commercial Performance: Sold 62,987 units (record), a 39% increase YoY; SKU count rose to 52 with 174 commercial listings (+29% YoY).
• Medical Affairs Impact: Growth driven by increased medical‑affairs initiatives and expansion of the MyMedi.ca platform.
• Adult‑Use Expansion: Entered three new Canadian provinces/territories (Newfoundland, Yukon, Northwest Territories).
• Patent Milestone: USPTO issued Patent No. US 12,343,315 B2 for a topical cannabinoid gel formulation targeting skin conditions.
• International Export: First export of organic‑certified CBD‑dominant flower to Switzerland, marking the 20th international market for Aureus products.
• New U.S. Brand Launch: Avicanna LATAM SAS and Harrington Wellness launched “re+PLAY” CBD wellness topicals in the United States, featuring patented 3% CBD cream and 2% CBD/1% CBG transdermal gel.

Notable Quotes

“Q3 reflects the continued progress of our strategy to build a diversified and sustainable biopharmaceutical business… despite short‑term margin pressures, we remain confident in our path toward sustainable profitability.” – Aras Azadian, CEO, Avicanna Inc.