InnoCan Pharma (INNO) Q3 2025 earnings summary

Executive summary

• Reported revenues of $21.6M for the nine months ended September 30, 2025, down 10% year-over-year.

• Gross profit reached $19.5M, a 10.5% decrease year-over-year, with gross margin remaining high at 90.2%.

• Operating loss was $0.333M, relatively stable with a 1.5% increase year-over-year.

• Consumer Wellness segment maintained profitability and resilience despite an unstable US market.

• Progress continues in preclinical development of LPT-CBD for pain management and epilepsy.

Financial highlights

• Revenues declined 10% to $21.6M for the nine-month period compared to the prior year.

• Gross profit decreased 10.5% to $19.5M for the same period.

• Gross margin remained robust at 90.2%.

• Operating loss was $0.333M, up 1.5% year-over-year.

Outlook and guidance

• Advancing toward a U.S. public offering as the next milestone.

• Continued focus on regulatory compliance and IND-enabling studies for LPT-CBD.