Revenue Growth
Revenue for Q3 2025 was $12.7 million, up 41% year-over-year. Year-to-date revenue reached $37.6 million, up 46% from 2024, driven by expansion in Ohio and steady performance in Arizona.
Positive Operating Cash Flow
Vext generated positive operating cash flow for the fourth consecutive quarter, with $1.26 million in Q3 2025, despite temporary working capital impacts.
Ohio Retail Expansion
Ohio continues to be a growth engine with steady retail growth from dispensaries in Athens and Jeffersonville. The addition of drive-thrus has been successful, increasing convenience and visit frequency.
Cultivation Yield Improvements
Weighted average yields improved by 10% in Q3 2024 and 15% in Q3 2025. Pilot programs showed test yields nearly 50% above current averages, indicating potential for cost efficiency.