Delivra Health Brands (DHB) AI Stock Analysis

• Market Cap: C$5.00M
• Dividend Yield: N/A
• Average Volume (3M): 26.13K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.57
• Revenue Growth: 13.01%
• EPS Growth: -2445.45%
• Country: CA
• Employees: 22
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): -0.01
• Shares Outstanding: 31,261,782
• 10 Day Avg. Volume: 58,945
• 30 Day Avg. Volume: 26,134
• PEG Ratio: 0.02
• Price to Book (P/B): 1.30
• Price to Sales (P/S): 0.41
• P/FCF Ratio: -7.30
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.01
• Revenue Forecast (FY): C$14.97M

• Rating: 44 Neutral
• Price Target: C$0.17 ▼(-5.56% Downside)
• Action: Reiterated Date: 03/02/26
• Date: Action: Reiterated 03/02/26

The score is primarily held back by continued losses and inconsistent/negative recent cash flow despite improved gross profitability, alongside weak technical trend signals (below major moving averages with negative MACD). Valuation is also constrained by a negative P/E and no dividend yield data.

Positive Factors

Sustained High Gross Margin

Consistently ~50% gross margins provide structural profit leverage for Delivra’s topical and OTC product mix. High unit economics give room to invest in marketing and distribution while protecting margins as revenue scales, supporting a durable path toward operating profitability.

Multi-year Revenue Expansion and Operational Improvement

Several years of revenue expansion and operational improvement indicate a working commercial model and product-market fit. Sustained growth from 2021–2025 suggests the company can scale distribution and reduce per-unit costs, improving durability of future margins if trends continue.

Manageable Leverage and Positive Equity Cushion

Moderate debt levels and positive equity provide balance-sheet flexibility for a small issuer, limiting refinancing pressure. Manageable leverage supports continued investment in retail and e-commerce channels and reduces bankruptcy risk compared with highly leveraged peers over the medium term.

Negative Factors

Inconsistent Cash Generation

Volatile cash flow with a recent material annual cash burn undermines financial flexibility. Inconsistent free cash flow limits the company’s ability to self-fund marketing, inventory and working capital needs, increasing reliance on external capital and diluting long-term shareholder value risk.

Ongoing Net Losses

Persistent negative net margins and slightly negative EBIT show the turnaround is incomplete. Without durable operating profitability, losses can erode equity over time and constrain reinvestment capacity, making sustainable returns dependent on sustained revenue scale or cost reductions.

Slowing Recent Revenue Momentum

A TTM revenue decline after prior multi-year expansion signals vulnerability in demand or distribution execution. Slowing top-line momentum impairs operating leverage and delays margin recovery, making achievement of consistent positive cash flow and profits less certain over the next several quarters.

Delivra Health Brands Business Overview & Revenue Model

Company Description

Delivra Health Brands Inc. through its subsidiaries, provides lifestyle and wellness products to consumers and patients in regulated markets worldwide. The company is involved in selling of cannabis, liquid sleep shots, sleep powder packets, gummies, and pain relief creams. It offers its products under LivRelief, Dream Water, and LivRelief infused brand names. The company was formerly known as Harvest One Cannabis Inc. Delivra Health Brands Inc. is headquartered in Vancouver, Canada.

How the Company Makes Money

Delivra Health Brands generates revenue primarily through the sale of its topical products, which are distributed across various retail and online channels. The company capitalizes on its proprietary delivery systems to offer differentiated products that appeal to consumers seeking effective health and wellness solutions. Additionally, DHB may engage in strategic partnerships or licensing agreements with other companies to expand its market reach and enhance its product offerings. These collaborations can contribute to revenue generation by enabling access to new markets and customer segments.

Delivra Health Brands Financial Statement Overview

Summary

Operational metrics have improved versus 2021–2022 and gross margin is healthy (~50%), but the latest TTM shows slightly declining revenue (~-2.4%), continued net losses (TTM net margin ~-6% and EBIT slightly negative), and inconsistent cash generation with TTM operating/free cash flow slightly negative and a larger 2025 annual cash burn.

Income Statement

Revenue expanded strongly from 2021–2025 annual, but the latest TTM (Trailing-Twelve-Months) shows a slight decline (about -2.4%), suggesting momentum has cooled. Profitability has improved materially versus 2021–2022 (when losses and margins were extremely weak), and gross margin is now healthy around ~50% in both 2025 annual and TTM. However, the company is still losing money (TTM net margin ~-6% and EBIT slightly negative), indicating the turnaround is incomplete and earnings remain sensitive to cost control and scale.

Balance Sheet

Leverage appears manageable, with debt around ~$2.1–$2.3M and debt-to-equity roughly ~0.5–0.6 in the most recent periods, which is not excessive for a small issuer. Equity remains positive, providing some balance sheet cushion. The key weakness is ongoing losses driving weak returns for shareholders (negative return on equity in all periods shown, including TTM), which can pressure equity over time if profitability does not improve.

Cash Flow

Cash generation is currently a concern: TTM (Trailing-Twelve-Months) operating cash flow and free cash flow are slightly negative (about -$0.1M), and the most recent annual period shows a much larger cash burn (about -$0.75M). While 2024 annual showed positive cash flow, the reversal back to negative in 2025 signals volatility and reduces financial flexibility. Overall, the business has not yet demonstrated consistent, repeatable free-cash-flow generation.

Breakdown	TTM	Sep 2025	Sep 2023	Sep 2022	Sep 2021	Sep 2020
Income Statement
Total Revenue	13.09M	13.37M	12.38M	9.79M	8.14M	7.96M
Gross Profit	6.36M	6.78M	6.40M	3.49M	485.00K	-297.00K
EBITDA	307.00K	427.00K	2.35M	1.40M	-4.25M	-7.04M
Net Income	-405.00K	-1.19M	876.00K	-184.00K	-7.01M	-28.54M
Balance Sheet
Total Assets	8.04M	9.61M	10.05M	10.56M	11.59M	19.06M
Cash, Cash Equivalents and Short-Term Investments	3.23M	3.30M	4.20M	2.73M	1.11M	5.14M
Total Debt	2.26M	2.11M	2.03M	1.96M	2.11M	2.16M
Total Liabilities	4.25M	5.37M	4.86M	7.17M	8.21M	9.09M
Stockholders Equity	3.80M	4.24M	5.19M	3.39M	3.37M	9.98M
Cash Flow
Free Cash Flow	-111.00K	-754.00K	756.00K	-1.13M	-4.46M	-9.68M
Operating Cash Flow	-111.00K	-754.00K	756.00K	-1.09M	-4.44M	-9.65M
Investing Cash Flow	0.00	0.00	11.00K	2.91M	1.35M	12.27M
Financing Cash Flow	-20.00K	-36.00K	594.00K	-255.00K	-309.00K	446.00K

Delivra Health Brands Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.18
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:DHB, the sentiment is Neutral. The current price of 0.18 is above the 20-day moving average (MA) of 0.18, below the 50-day MA of 0.19, and below the 200-day MA of 0.22, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 49.77 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:DHB.

Delivra Health Brands Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
DHB	44 Neutral	C$5.00M	-3.90	-9.77%	―	13.01%	-2445.45%
TGIF	44 Neutral	C$4.96M	13.38	―	―	-2.30%	―
PCLO	44 Neutral	C$10.00M	5.19	―	―	15.64%	58.47%
CDVA	41 Neutral	C$2.75M	-6.37	50.26%	―	1.60%	-213.10%

Delivra Health Brands Corporate Events

Delivra Health Q2 Revenue Slips as E-Commerce Growth Offsets Retail Weakness

Delivra Health reported weaker second-quarter fiscal 2026 results as net revenue fell 12% to $2.4 million, driven by lower Dream Water sales in the U.S. and Canada, reduced LivRelief retail and infused cream volumes, and a shift in distribution channels. Despite the revenue decline and a drop in gross margin to 40%, the company is seeing strong year-to-date e-commerce growth of 26% for Dream Water and 28% for LivRelief, while cutting expenses, and management is prioritizing stabilizing retail ordering patterns, optimizing channels and expanding high-margin direct-to-consumer and U.S. opportunities to restore consistent revenue growth.

The most recent analyst rating on (TSE:DHB) stock is a Hold with a C$0.17 price target. To see the full list of analyst forecasts on Delivra Health Brands stock, see the TSE:DHB Stock Forecast page.

Delivra Health Brands Adds Veteran CPG Executive John Barrett to Board

Delivra Health Brands has appointed John Barrett, a veteran consumer goods executive with senior leadership experience at Frito Lay, PepsiCo and Pernod Ricard, to its board of directors, replacing outgoing director Andrew Bayfield. Currently head of boutique consultancy Kites Advisors, Barrett brings extensive North American and international expertise in innovation, marketing, commercial strategy, major customer acquisition and profit-and-loss management, which the company’s executive chair says will be key as Delivra pursues its next phase of growth and seeks to strengthen execution of its strategic priorities and long-term value creation, subject to TSX Venture Exchange approval.

The most recent analyst rating on (TSE:DHB) stock is a Hold with a C$0.21 price target. To see the full list of analyst forecasts on Delivra Health Brands stock, see the TSE:DHB Stock Forecast page.