Cantourage Group (HIGH) Q3 2025 TU earnings summary

Executive summary

• Revenue surged 148% year-over-year to EUR 75 million for the first nine months of 2025, reflecting strong operating performance in a challenging regulatory environment.

• The company consolidated its position as a leading player in the European medical cannabis market, with robust development in Germany and expansion in the UK and Poland.

• Strategic preparations are underway to enter new European markets such as Spain and Italy, aiming to capitalize on market liberalization.

Financial highlights

• Q3 2025 revenue reached EUR 20.1 million, up from EUR 13.2 million in Q3 2024.

• Total group revenue for the first nine months was EUR 74.9 million, compared to EUR 30.2 million in the same period last year.

• EBITDA for Q3 2025 was approximately EUR 3.9 million, up from EUR 2.1 million in Q3 2024.

Outlook and guidance

• Confident outlook for Q4 and full year 2025, with a focus on further growth and geographic diversification.

• The company remains attentive to potential market changes and regulatory developments.