Top Line Growth
Revenue for Q2 2025 was $65 million, up from $63.8 million last quarter and $64.6 million in Q2 2024, driven by retail revenue increases of $2.6 million sequentially and $2.4 million year-over-year.
Gross Profit Improvement
Gross profit for Q2 2025 was $28.9 million or 44% of revenue, compared to $25.8 million or 40% in Q1 2025, reflecting early improvements in gross margin.
Net Loss Reduction
Net loss for Q2 2025 was $12.3 million, a reduction from $17 million last quarter, showing a sequential improvement.
Retail Expansion Success
Ohio's retail expansion with 5 stores has been a significant growth driver. The company remains on track to open 10 new stores by early 2026.
Strategic Investments in Grower-Processor Operations
High-return investments in Pennsylvania and Virginia are expected to increase canopy by 35% to 45% in Pennsylvania and 50% in Virginia by 2026.
Brand and Product Portfolio Expansion
Launch of 602 new product SKUs in Q2 2025, enhancing offerings in the higher-quality market.