Vext Science (TSE:VEXT)
:VEXT
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Vext Science
(VEXT)
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Rating:55Neutral
Price Target:
C$0.29
▼(-10.31% Downside)
Action:Reiterated
Date:05/01/26
The score is held back primarily by weak profitability and large losses despite improved cash generation. Technicals are supportive with the stock trading above key moving averages, but near-overbought signals add risk. Valuation is constrained by negative earnings and no dividend, while earnings-call guidance is moderately positive on growth and cash flow but tempered by Arizona price pressure and Ohio permitting delays.
Positive Factors
Improved cash generation
Operating cash flow rose to roughly $11.9M in 2025 with positive free cash flow in 2024–2025. Durable internal cash generation reduces reliance on external financing, supports incremental store openings and working-capital needs, and underpins medium-term investment capacity if sustained.
Negative Factors
Profitability deterioration
The shift from prior profits to sizable operating and net losses and a collapsed gross profit in 2025 represents a structural threat to earnings quality. Persistent negative profitability erodes retained capital, limits reinvestment, and undermines returns unless margins and cost structure improve sustainably.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved cash generation
Operating cash flow rose to roughly $11.9M in 2025 with positive free cash flow in 2024–2025. Durable internal cash generation reduces reliance on external financing, supports incremental store openings and working-capital needs, and underpins medium-term investment capacity if sustained.
Read all positive factors
Vext Science (VEXT) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$71.48M
Dividend YieldN/A
Average Volume (3M)40.05K
Price to Earnings (P/E)―
Beta (1Y)0.75
Revenue Growth45.36%
EPS Growth17.86%
CountryCA
Employees173
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.09
Shares Outstanding180,409,180
10 Day Avg. Volume23,955
30 Day Avg. Volume40,052
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)0.83
Price to Sales (P/S)0.88
P/FCF Ratio5.55
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.02
Revenue Forecast (FY)C$56.60M
Vext Science Business Overview & Revenue Model
Company Description
Vext Science (VEXT) is a diversified cannabis company operating in the legal cannabis market, primarily focused on the production and sale of high-quality cannabis products. The company operates in multiple sectors, including cultivation, processi...
How the Company Makes Money
Vext Science makes money primarily by selling regulated cannabis products. Its key revenue streams are: (1) Retail sales through company-owned dispensaries: Vext generates revenue by selling cannabis flower and manufactured products (e.g., concent...
Vext Science Earnings Call Summary
Earnings Call Date:Nov 20, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Aug 26, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted strong revenue growth and positive cash flow, driven by retail expansion and yield improvements. However, challenges in the Arizona market and wholesale price pressures, along with permitting delays in Ohio, posed significant challenges.Positive Updates
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.
Negative Updates
Arizona Market Challenges
Statewide sales in Arizona were down about 12% sequentially and 6% year-over-year due to pricing pressure and typical summer seasonality.
Read all updates
Q3-2025 Updates
Positive
Negative
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.
Read all positive updates
Company Guidance
During the Vext Sciences Third Quarter 2025 Financial Results Conference Call, the company provided guidance reflecting a strong quarter with revenue reaching $12.7 million, a 41% increase year-over-year, driven by their operations in Ohio and Arizona. The company reported positive operating cash flow for the fourth consecutive quarter and an adjusted EBITDA of $2.1 million, representing a 16.7% margin. In Ohio, the retail expansion, including the opening of new dispensaries and the introduction of drive-thrus, contributed to steady revenue, while the mature Arizona market faced pricing pressures, impacting margins. Vext plans to open three additional dispensaries in Ohio by 2026, with improved cultivation yields expected to bolster revenue growth. The company remains focused on operational efficiency, cash generation, and a disciplined, capital-light strategy to support long-term growth and shareholder value.Vext Science Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
58
Neutral
Cash Flow
66
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 52.27M | 36.00M | 34.81M | 35.41M | 37.24M |
| Gross Profit | 2.32M | 8.98M | 12.04M | 23.10M | 18.69M |
| EBITDA | 6.80M | -2.02M | 16.77M | 15.03M | 12.80M |
| Net Income | -18.31M | -22.44M | 4.40M | 10.92M | 4.99M |
Balance Sheet | |||||
| Total Assets | 120.31M | 136.97M | 149.56M | 120.52M | 83.70M |
| Cash, Cash Equivalents and Short-Term Investments | 5.07M | 4.62M | 8.72M | 5.93M | 6.47M |
| Total Debt | 34.97M | 39.52M | 38.60M | 38.15M | 14.10M |
| Total Liabilities | 65.04M | 61.23M | 54.58M | 48.60M | 24.31M |
| Stockholders Equity | 55.27M | 75.74M | 94.98M | 71.92M | 59.39M |
Cash Flow | |||||
| Free Cash Flow | 8.29M | 1.82M | 1.69M | -2.94M | -7.10M |
| Operating Cash Flow | 11.92M | 3.29M | 4.42M | 5.92M | 11.68M |
| Investing Cash Flow | -5.76M | -5.44M | -4.82M | -30.31M | -27.10M |
| Financing Cash Flow | -5.69M | -1.95M | 3.19M | 23.86M | 20.14M |
Vext Science Technical Analysis
Positive
0.32
Price Trends
0.27
Positive
0.27
Positive
0.27
Positive
Market Momentum
<0.01
Positive
49.23
Neutral
20.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:VEXT, the sentiment is Positive. The current price of 0.32 is above the 20-day moving average (MA) of 0.30, above the 50-day MA of 0.27, and above the 200-day MA of 0.27, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 49.23 is Neutral, neither overbought nor oversold. The STOCH value of 20.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:VEXT.
Vext Science Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
56 Neutral | C$36.11M | -8.58 | -19.10% | ― | 0.66% | -14.29% | |
55 Neutral | C$71.48M | -0.80 | -21.73% | ― | 45.36% | 17.86% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | C$94.76M | -2.23 | -275.39% | ― | -2.64% | -36.69% | |
46 Neutral | C$59.15M | -1.55 | -112.30% | ― | -21.09% | -54.32% | |
46 Neutral | C$17.61M | -7.68 | -68.32% | ― | 1.96% | -24.60% | |
45 Neutral | C$58.88M | -0.85 | 136.59% | ― | ― | ― |
* Healthcare Sector Average
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Vext Science Corporate Events
Business Operations and Strategy
Vext Shifts Cultivation Strategy, Trims Arizona Footprint to Fuel Ohio Growth
Positive
Mar 30, 2026
Vext Science plans to shut down and sell its Eloy, Arizona cultivation facility as part of a broader effort to streamline its Arizona operations and bolster profitability in a market grappling with oversupply and price pressure. By shifting from i...
Business Operations and Strategy
Vext Science Secures Seventh Ohio Dispensary License as It Nears State Store Cap
Positive
Mar 3, 2026
Vext Science has secured a provisional dual-use license for a new dispensary on the west side of Columbus, Ohio, marking its seventh retail location in the state and second in the Columbus market. The store, designed as a standalone facility with ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.