Cannara Biotech reports Q1 EPS C$0.03 vs. C$0.02 last year

Reports Q1 revenue C$25.1M vs. C$19.5M last year. “I am pleased to report to our shareholders that our Q1 2025 results delivered the strongest quarter in company history, producing company records for market share, revenue, adjusted EBITDA, operating cash flow, and free cash flow showcasing our successful execution of our long-term business strategy and industry leadership,” stated Zohar Krivorot, CEO. “Net revenues grew by 29% to C$25.1M compared to Q1 2024, marking the highest quarterly revenue in our history. During the quarter, we achieved record market share, increasing our Canadian market share by 28% to 4.1%, with notable gains across all provinces where we are licensed to sell. These results highlight the growing adoption of our premium-grade cannabis products and the strong execution of our sales and marketing strategies. As we look ahead to 2025, we are excited to continue building on this momentum with plans to open two new growing zones increasing our capacity by 6,000 kg per year and introduce over 20 products in existing and previously unmet product segments. Our expanding capacity and these product launches position us to capitalize on increasing consumer demand for our brands, while further solidifying our leadership in the Canadian cannabis market. We remain committed to driving sustainable revenue growth, scaling our production capabilities, and delivering exceptional value to our customers and stakeholders.”