Cannara Biotech reports FY25 EPS C$0.14 vs. C$0.07 last year

Reports FY25 revenue C$107.3M vs. C$82.2M last year. “Fiscal 2025 represents the strongest annual performance in Cannara Biotech’s (LOVFF) history and reflects our ability to execute on the significant growth opportunity in front of us,” stated Zohar Krivorot, President and Chief Executive Officer of Cannara. “During the year, we set new annual records for revenue, adjusted EBITDA, net income, operating cash flow and free cash flow, delivering substantial year over year growth across almost all key financial metrics. We also delivered strong share gains across our markets, increasing our national market share by almost 32% year over year to 3.81%. In our home province of Quebec, we continued to capture and maintain consumer loyalty, increasing our provincial market share by over 53% year over year to 12.72%. In the near term, our focus is on a successful execution of the November vape category launch in Quebec, where Cannara has secured 20% of all accepted SKUs by the SQDC,” Mr. Krivorot continued. “We also look ahead to our Fiscal 2026 post processing initiative at Valleyfield, which will position Cannara for its next phase of cultivation expansion. Over time, we plan to operationalize the remaining 12 grow rooms at our flagship Valleyfield facility, which would increase our total cultivation capacity by approximately 100% over the next four years. We would also like to note the passing of Jack M. Kay, and acknowledge his strong leadership, experience and support as a member of our Board since 2019,” Mr. Krivorot added. “Jack made a lasting impact on Cannara and all those who had the privilege of working with him. On behalf of the entire Company, we extend our deepest condolences to his family and loved ones.”