Avant Brands (AVNT) Q3 2025 earnings summary

Executive summary

• Eighth consecutive quarter of positive adjusted EBITDA, reflecting operational discipline and international growth.

• Strong demand in both domestic and international markets, with a focus on premium cannabis products.

• Strategic shift toward higher-margin SKUs and cost management to drive long-term profitability.

Financial highlights

• Gross revenue rose 13% to $10.8M and net revenue increased 11% to $9.4M year-over-year.

• Gross profit increased 68% to $1.7M compared to Q3 2024.

• Adjusted EBITDA was $0.2M, marking eight consecutive quarters of positive results.

• YTD net cash flows from operating activities grew 111% to $3.7M year-over-year.

Segment performance

• Export wholesale revenue declined 16% to $4.3M, while domestic wholesale revenue surged 307% to $2.3M.

• Net recreational revenue decreased 3% to $2.7M due to higher sales returns and allowances.

• Combined domestic and export wholesale revenue increased 17% to $6.5M.

• Cannabis production was 3,231 KG (-6%), while sales reached 3,387 KG (+10%).