TORONTO, Nov. 14, 2025 (GLOBE NEWSWIRE) — Avicanna Inc. (“Avikanna” or “Company”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce and report third quarter 2025 results.
Management comment:
“The third quarter reflects the continued progress of our strategy to build a diversified and sustainable biopharmaceutical business. We are pleased with the impact of our medical initiatives and increased engagement with the Canadian medical community, which contributed to sequential revenue growth in Canada over the subsequent quarters. We also continued to translate our scientific leadership into tangible value through new intellectual property and global collaborations. Despite short-term pressure on profitability, we remain confident in our path to sustainable profitability as we continue to focused on disciplined execution and delivering long-term value to our shareholders,” said Aras Azadian, CEO of Avicanna Inc.
Financial results for the second quarter of 2025:
- Income: The company's revenue for the three- and nine-month periods ended September 30, 2025 was $6.40 million and $18.88 million. Revenue in Canada increased 4%, marking the second consecutive quarter of revenue growth for its Canadian business units. This is a direct result of increased investment in health initiatives. International revenue also increased approximately 6% compared to the second quarter of 2025.
- Gross profit and margin: Gross profit was $3.15 million and $9.88 million for the three and nine months. This resulted in gross margins of 49% and 52%, respectively. This represents a near-term decline in gross margin from 57% in the prior-year three-month period and is due to one-time costs, the Canada Post strike and one-time adjustments. The nine-month profit represents a slight improvement from 50% in the prior period and is largely the result of changes in sales mix from product sales to licensing and services revenue.
- Adjusted EBITDA: The company reported an adjusted EBITDA loss of $0.79 million, down from the corresponding three-month period in 2024. Nine-month adjusted EBITDA loss was $0.61 million, a slight improvement from the nine-month loss of $0.72 million in 2024. The short-term decline in Adjusted EBITDA is largely the result of lower gross profit driven by non-recurring factors and one-time adjustments.
Other corporate events in the third quarter of 2025:
- Canadian commercial achievements: Canadian commercial gains in the third quarter across all business units resulted in record sales of 62,987 units, up 39% from the same period in 2024. The MyMedi.ca platform saw growth for the second quarter in a row, driven by efforts in the medical sector. Other Canadian business units, including B2B Medical, saw a 113% increase in product sales. In addition, the Adult Use business unit entered three new provinces and territories, including Newfoundland, Yukon and the Northwest Territories.
- Avicanna announces the grant of a USPTO patent covering topical cannabinoid compositions for skin cleansing: The United States Patent and Trademark Office has issued Patent No. US 12,343,315 B2 covering a topical gel formulation that contains cannabinoids in combination with antioxidants, antimicrobial and anti-inflammatory agents, and its potential for the treatment and prevention of skin diseases and conditions, including but not limited to acne, wrinkles, rosacea and erythema.
- Avicanna subsidiary has completed the export of CBD-dominant cannabis flower to Switzerland: This was the first export of organic certified flowers for SMGH, the 20thth international market for products under the Aureus brand and 23rddistrict market for all Avicanna products. This is the result of improvements to SMGH's infrastructure and expansion of Aureus' portfolio to meet the growing demand for medicinal cannabis flower in Europe and Australia.
- Avicanna LATAM SAS and Harrington Wellness launch re+PLAY CBD Wellness brand feature stories in the USA: re+PLAY is a CBD wellness brand founded by NBA veteran Al Harrington whose products utilize Avicanna's proprietary and proprietary CBD formulas. Initial product offerings include a localized 3% CBD cream and a 2% CBD and 1% CBG transdermal gel that utilizes Avicanna's proprietary deep tissue technology. The CBD and CBG used in the formulations were sourced from USDA certified hemp grown by Avicanna's Santa Marta Golden Hemp SAS subsidiary and produced by the Avicanna LATAM SAS team in Colombia.
About Avikanna:
Avicanna is an international commercial-stage biopharmaceutical company focused on advancing and commercializing cannabinoid-based products and formulations for the global medical and pharmaceutical market segment. Avicanna has an established scientific platform including research and development and clinical development leading to the commercialization of more than thirty evidence-based, patented, finished products supporting four core commercial-stage businesses.
- Medical Cannabis Formulary (RHO Phyto™): Formulary offers a wide range of proprietary products including oral, sublingual, topical and transdermal formulations in varying cannabinoid ratios, supported by ongoing education of patients and the medical community. RHO Phyto is an established brand in Canada, now available across the country through multiple channels and expanding into new international markets.
- Medical Marijuana Care Platform (MyMedi.ca): MyMedi.ca is a medical marijuana care platform created to better serve the needs of medical marijuana patients and empower medical marijuana patients. MyMedi.ca is operated by Northern Green Canada Inc. and offers a diverse portfolio of products and bilingual pharmacist-led patient support programs. MyMedi.ca also provides specialized services to specific patient populations, such as veterans, and partners with public and private payers for adjudication and reimbursement. MyMedi.ca provides educational resources to the medical community to facilitate the inclusion of medical cannabis in healthcare regimens.
- Pharmaceutical pipeline: Leveraging Avicanna's scientific platform, vertical integration and real-world evidence, Avicanna has developed a portfolio of proprietary cannabinoid candidates with specific indications that are in various stages of clinical development. These cannabinoid-based candidates address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders.
- Active Pharmaceutical Ingredients (Aureus Santa Marta™): Active Pharmaceutical Ingredients, supplied by the Company's majority-owned subsidiary Santa Marta Golden Hemp SAS (“SMGH”), is a commercial enterprise dedicated to supplying various forms of high-quality CBD, THC and CBG to the Company's international partners for use in the development and production of food, cosmetic, medical and pharmaceutical products. SMGH is also part of the company's supply chain and a source of trusted raw materials for retail, medical cannabis and pharmaceutical products worldwide.
SOURCE Avicanna Inc..
Stay in touch
For more information about Avicanna, visit our website or contact Ivana Maric by email: [email protected].
Cautionary Note Regarding Forward-Looking Information and Statements
This press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release can be identified by the use of words such as “may,” “will,” “could,” “would,” “likely,” “expect,” “anticipate,” “believe,” “intend,” “plan,” “forecast,” “project,” “estimate,” “outlook” and other similar expressions. Forward-looking information contained in this press release includes, but is not limited to, statements regarding the Company's future business operations, management's opinions or beliefs and future business objectives. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on forward-looking information as the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated in these statements. Forward-looking information is subject to a number of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to, current and future market conditions, including the market price of the Company's common shares, as well as the risk factors set forth in the Company's annual information form dated April 11, 2025, filed with the Canadian securities regulatory authorities and available under the Company's profile on SEDAR+ at www.sedarplus.ca. The statements in this press release are made as of the date hereof. The Company disclaims any intention or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
