- Glow Lifetech (GLWLF, Financial) achieves 238% year-over-year revenue growth in Q1 2025.
- EBITDA loss narrows by 44%, nearing breakeven with improved financial strength.
- Expands retail presence to over 850 stores in Ontario, with strategic market expansion.
Glow Lifetech Corp. (GLWLF) reported impressive financial results for Q1 2025, with a significant 238% increase in revenue year-over-year, reaching $478,327. The company also achieved a 44% quarter-over-quarter revenue growth, marking its third consecutive quarter of over 40% sequential growth.
The company maintained strong gross margins of 66%, although slightly down from 70% the previous year. Gross profit increased by 211% year-over-year to $318,024. Additionally, Glow Lifetech narrowed its EBITDA loss by 44% quarter-over-quarter to $65,116, showing progress toward achieving breakeven.
The financial position of Glow Lifetech strengthened considerably, with a cash balance of $1.1 million and a working capital surplus of $1.7 million. The company's current ratio also improved to 2.88x from 0.17x in Q1 2024, reflecting enhanced financial stability.
In terms of market presence, Glow's MOD™ brand continues to hold the #3 position in Ontario's oils category, with its MOD™ THC 1000 achieving the #2 ranked SKU. The company expanded its retail footprint to over 850 cannabis stores in Ontario, covering approximately half of the province's licensed cannabis retailers. Furthermore, Glow made its debut in Atlantic Canada by launching MOD™ THC products in New Brunswick, broadening its national distribution.
With a strong foundation and expanding market share, Glow Lifetech aims to drive continued growth and work towards profitability by further scaling its operations and launching innovative new products, such as the MOD™ CBN:THC Drops scheduled for Spring 2025.
