- Auxly Cannabis Group (CBWTF, Financial) reports a 29% YoY increase in Q1 2025 net revenues, reaching $32.7 million.
- The company achieved a net income of $12.1 million, a significant turnaround from a $26 million loss in Q1 2024.
- Auxly secures its position as the 4th largest Canadian Licensed Producer with a 5.8% market share.
Auxly Cannabis Group Inc. (CBWTF) has announced its financial results for the first quarter of 2025, showcasing a strong performance with net revenues amounting to $32.7 million, marking a 29% year-over-year increase. This growth underscores the company’s successful strategic execution in the competitive cannabis market.
The company reported an adjusted EBITDA of $7.4 million, 23% of net revenue, which represents a substantial 232% increase from the same period in the previous year. Auxly also achieved a net income of $12.1 million, demonstrating a significant financial rebound from a loss of $26 million experienced in Q1 2024.
Auxly’s gross margin improved to 48% from 38% year-on-year, benefiting from streamlined manufacturing processes and enhanced operating cost efficiencies. These improvements have been instrumental in bolstering the company’s profitability.
Back Forty, one of Auxly's key brands, emerged as Canada’s leading cannabis brand, reinforcing Auxly’s market presence. The company held the fourth position among Canadian Licensed Producers, capturing a 5.8% market share. Auxly also maintained $17.1 million in cash at the end of the quarter and successfully reduced its debt by 5% from the end of 2024.
Revenue growth was prominently driven by the sales of dried flower and pre-roll products, which comprised 63% of the total revenue. Notably, 75% of these sales originated from key regions including British Columbia, Alberta, and Ontario. These strategic markets have continued to fuel Auxly’s robust sales performance.
