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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
FLUENT
FLUENT (TIUM.U) investor relations material
FLUENT Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary21 Aug, 2026
Executive summary
Revenue for Q2 2026 was $17.1 million, down from $22.8 million year-over-year, with Florida revenue at $12.8 million versus $19.2 million.
Gross profit before fair value adjustments was $4.3 million (25.2% margin), compared to $8.9 million (38.8% margin) in Q2 2025.
Adjusted EBITDA for the quarter was $0.3 million, a significant decline from $3.6 million year-over-year, mainly due to retail price pressure in Florida.
Ended the quarter with $4.5 million in cash and $79.7 million in total debt.
Appointed a new Interim CEO and focused on cost reductions, including closing the Ruskin cultivation facility in Florida.
Financial highlights
Cash flow from operations was $0.8 million, down from $3.2 million in Q2 2025.
Net loss from continuing operations was $11.1 million, compared to a net loss of $10.0 million in Q2 2025.
Cash and cash equivalents decreased to $4.5 million from $22.9 million year-over-year.
Total liabilities increased to $240.5 million as of June 30, 2026.
Adjusted EBITDA for the six months ended June 30, 2026, was $1.6 million, down from $7.2 million in the prior year period.
Outlook and guidance
Management remains focused on completing the Vireo transaction and optimizing operations, especially in Florida.
Strategic initiatives are underway to strengthen liquidity, including the pending sale of Texas operations for $30 million.
The company continues to pursue cost reductions and operational efficiencies.
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Latest events from FLUENT
- Revenue and margins declined in Q1 2026, with liquidity risks and major transactions pending.TIUM.U
Q1 2026 - Revenue and margins fell, with liquidity and going concern risks highlighted.TIUM.UQ4 2025
- Net revenue was $79.5M with a $(32.0M) net loss; margin recovery expected from premium production.TIUM.UQ3 2025
- Net loss widened to $18.4M on $53.4M revenue as margins fell and strategic changes began.TIUM.UQ2 2025
- Q3 revenue up 3.5% to $26.1M; RIV Capital merger and Florida expansion to drive growth.TIUM.UQ3 2024
- Q2 revenue up 12% to $27.3M, with Florida growth and RIV Capital integration progressing.TIUM.UQ2 2024
- Q1 2025 revenue up 6% to $26.8M; EBITDA fell, net loss widened, cash rose to $30.7M.TIUM.UQ1 2025
- Record $103.6M revenue, NY expansion, and strong cash flow set up 2025 growth despite impairment.TIUM.UQ4 2024
Next FLUENT earnings date
Q3 202627 Nov, 2026
FLUENT
Next FLUENT earnings date
Q3 202627 Nov, 2026
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Frequently asked questions
Cansortium Inc. is a vertically integrated cannabis company that focuses on the cultivation, processing, and retail of medical cannabis products. The company operates under the Fluent brand, offering a variety of cannabis products, including flower, tinctures, capsules, and vape cartridges. Cansortium serves the medical cannabis market, with operations concentrated in key U.S. states such as Florida, Pennsylvania, and Texas, as well as select international markets. The company is committed to providing high-quality, consistent products to patients through its network of dispensaries and delivery services. The company is headquartered in Miami, Florida, USA, and its shares are listed on the CSE.