Glow Lifetech (GLOW) Q2 2025 earnings summary

Executive summary

• Achieved 196% year-over-year revenue growth in Q2 2025, with strong gross margins and improved cash flow, reflecting commercial momentum and progress toward profitability.

• Expanded production capacity and retail penetration, now in over 1,000 Ontario cannabis stores, representing about 60% of the province's licensed retailers.

• Launched new CBN-based products and maintained market leadership with the MOD™ brand, now the #2 oils brand in Ontario.

Financial highlights

• Net revenue reached $436,325, up 196% from Q2 2024; gross profit was $293,141, up 182% year-over-year.

• Gross margin improved to 67%, reflecting operational efficiency at scale.

• Cash used in operating activities reduced to $31,153, down from $119,486 in Q2 2024.

• EBITDA loss narrowed to $166,896, a 25% improvement from Q2 2024.

• Cash balance of $1,059,855 and working capital surplus of $1,411,355, a $3M+ improvement from a deficit in Q2 2024.

• Current ratio improved to 2.24x from 0.30x year-over-year.

Outlook and guidance

• Entering H2 2025 with strong commercial momentum, expanded capacity, and growing national retailer penetration.

• Early Q3 momentum supports scalability and progress toward profitability.

• Focus remains on unlocking new strategic accounts, expanding across provinces, and building long-term market leadership.