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The latest update is out from Avicanna ( (TSE:AVCN) ).
Avicanna reported full-year 2025 revenue of $25.48 million, flat year over year, but improved its gross margin to 53%, lifting gross profit to $13.4 million and helping the company deliver positive adjusted EBITDA in the fourth quarter and near break-even adjusted EBITDA of $(0.29) million for the year. Management attributed the stronger financial performance to product-mix optimization, cost efficiencies, and a 10% reduction in operating expenses, signaling a move toward sustainable profitability.
Operationally, Avicanna expanded its Canadian commercial footprint to 52 proprietary SKUs and 174 listings, saw MyMedi.ca return to growth with rising contributions from its own products, and increased proprietary product unit sales by about 5% to 211,090 in 2025. The company also advanced its R&D and clinical pipeline through the initiation of a placebo-controlled Phase II osteoarthritis pain study with University Health Network and the filing of a provisional patent for its PwdRx oral delivery platform, which showed markedly improved cannabinoid absorption and could enhance its competitive position in cannabinoid-based therapeutics.
The most recent analyst rating on (TSE:AVCN) stock is a Hold with a C$0.19 price target. To see the full list of analyst forecasts on Avicanna stock, see the TSE:AVCN Stock Forecast page.
Spark’s Take on AVCN Stock
According to Spark, TipRanks’ AI Analyst, AVCN is a Neutral.
The score is held back primarily by continued losses and negative cash flow despite strong revenue growth and improving gross margins, plus a weak technical trend (price below major moving averages and negative MACD). Valuation also screens poorly due to the negative P/E, consistent with the lack of current profitability.
To see Spark’s full report on AVCN stock, click here.
More about Avicanna
Avicanna Inc. is a Toronto-based biopharmaceutical company specializing in the development, manufacturing, and commercialization of plant-derived cannabinoid-based products. The company focuses on medical and pharmaceutical applications, with a growing presence in the Canadian medical and adult-use cannabis markets through proprietary formulations and its MyMedi.ca medical platform.
Average Trading Volume: 55,033
Technical Sentiment Signal: Sell
Current Market Cap: C$18.85M
Learn more about AVCN stock on TipRanks’ Stock Analysis page.