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Avant Brands (AVNT) investor relations material
Avant Brands Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net revenue for the six months ended May 31, 2025, increased 5% year-over-year to $17.1 million, driven by a strategic shift toward higher-margin international export sales, which now comprise 51% of net revenues.
Adjusted EBITDA for the six-month period was $2.9 million, down 55% from $6.5 million in the prior year, reflecting increased cost of sales and margin compression.
Gross margin adjusted for fair value adjustments declined to 30% from 47% year-over-year, primarily due to market price compression and higher production cost allocation.
Operating expenses decreased 7% year-over-year, mainly from reductions in overhead, but were offset by higher share-based payments.
Net loss for the six months was $5.0 million, an improvement from a $6.5 million loss in the prior year.
Financial highlights
Revenue rose 6% to $19.4 million; net revenue up 5% to $17.1 million for the six months ended May 31, 2025.
Export wholesale revenue grew 24% year-over-year, while recreational revenue declined 15%.
Gross margin adjusted for fair value adjustments was $5.2 million (30% of net revenue), down from $7.8 million (47%).
Adjusted net loss was $0.4 million, compared to adjusted net income of $2.6 million in the prior year.
Cash flows from operating activities before working capital changes were $3.0 million, down from $8.4 million year-over-year.
Outlook and guidance
Focus remains on accelerating global expansion, especially in Australia and Germany, and strengthening the BLK MKT brand internationally.
Strategic emphasis on product innovation, cultivation partnerships, and operational efficiency to drive long-term growth.
Ongoing efforts to optimize cost structure and maintain financial discipline amid market price pressures.
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