Q4 2025 Leef Brands Inc Earnings Call Transcript

Mar 25, 2026 / 09:00PM GMT

Release Date Price: €0.161 (+5.92%)

Transcript

Key Points

Positve

Leef Brands Inc (LEEEF) achieved a 22% year-over-year revenue growth in 2025.
The company successfully doubled its gross margins in the last two quarters of 2025.
Leef Brands Inc (LEEEF) converted approximately $12 million worth of debentures, strengthening its balance sheet.
The company processed over 200 acres' worth of raw cannabis material annually, becoming a major concentrate provider.
Leef Brands Inc (LEEEF) generated positive operating cash flow of $1.3 million and positive free cash flow of $1.2 million in Q4 2025.

Negative

The company experienced a GAAP net loss in Q4 2025, heavily impacted by a $10 million non-cash charge related to debenture conversion.
Leef Brands Inc (LEEEF) anticipates a softer Q2 2026 due to running out of its own cultivated material.
The company faces challenges in expanding its cultivation footprint due to county ordinances in Santa Barbara.
Leef Brands Inc (LEEEF) is still reliant on third-party sourcing for some of its raw materials, affecting consistency.
The market demand for higher-margin products like live resin is limited, impacting potential revenue optimization.

Operator

Good day and thank you for standing by. Welcome to the Leef Brand's full-year and fourth-quarter 2025 earnings conference call. (Operator Instructions)

Please be advised that today's call is being recorded. I would now like to hand it over to our first speaker, Jesse Redmond, Chief strategy and Investor Relations Officer. Please go ahead.

Jesse Redmond

Leef Brands Inc - Chief Strategy & Investor Relations Officer

Good afternoon, everyone, and thank you for joining us. Welcome to Leef Brand's fourth-quarter and full-year 2025 earnings call. Joining me today are Micah Anderson, our Chief Executive Officer, and Kevin Wilson, our Chief Financial Officer.

Please note that today's discussion will include forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from what we discussed today. For a full discussion of these risks, please refer to our filings on SEDAR+ and on our website. Our financial results and press release for the quarter are available at leefbrands.com in the

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