Avicanna (AVCN) Q2 2025 earnings summary

Executive summary

• Achieved positive adjusted EBITDA for the first half of 2025, reflecting improved financial discipline and operational focus.

• Expanded engagement with the Canadian medical community and grew commercial channels, highlighting a strong proprietary product portfolio.

• Advanced clinical research with the sponsorship of a Phase II osteoarthritis pain study and secured a new US patent for topical cannabinoid compositions.

Financial highlights

• Q2 2025 revenue reached $6.16 million, a 1% increase year-over-year; six-month revenue was $12.48 million, down 1% from the prior year.

• Gross profit for Q2 was $3.13 million, with a gross margin of 51%, up from 47% in Q2 2024.

• Adjusted EBITDA loss for Q2 was $0.25 million, a significant improvement from a $0.44 million loss in Q2 2024.

• Six-month adjusted EBITDA turned positive at $0.18 million, compared to a $0.42 million loss in the same period last year.

Outlook and guidance

• Positioned for domestic and international scale-up, supported by financial discipline and operational improvements.

• Management anticipates continued growth through proprietary product expansion and clinical research initiatives.