Avicanna Inc., a leading biopharmaceutical company specializing in plant-derived cannabinoid-based products, has officially released its audited financial statements for the full year 2025. The company reported achieving positive adjusted EBITDA in the fourth quarter of 2025, alongside a near break-even performance for the entire year, marking a substantial improvement in its financial health.
Financial Performance Highlights
In the fourth quarter of 2025, Avicanna generated a positive adjusted EBITDA of $0.31 million, a significant turnaround from the $(0.79) million reported in the third quarter. For the full year ended December 31, 2025, the company achieved near break-even adjusted EBITDA at $(0.29) million, representing a 76% improvement compared to the $(1.01) million recorded in 2024. This enhancement was primarily driven by higher gross margins and a 10% reduction in operating expenses.
Revenue and Gross Profit Details
Revenue for Q4 2025 totaled $6.6 million, consistent with the prior year's Q4 performance. For the full year, revenue reached $25.48 million, slightly up from $25.46 million in 2024. Gross margin expanded to 53% in 2025 from 51% in the previous year, resulting in a gross profit of $13.4 million compared to $12.9 million in 2024. This margin expansion reflects ongoing optimization of the product mix and increased cost efficiencies across operations.
Business Unit Advancements
Throughout 2025, Avicanna made significant strides across its business units, research and development programs, and clinical initiatives. The company strengthened its leadership in cannabinoid-based medicine by deepening engagement with the Canadian medical community and advancing its product development efforts.
Canadian Commercial Platform Growth
In Canada, Avicanna expanded its commercial platform with new SKUs, channels, and listings. The MyMedi.ca platform recovered from a modest Q1 performance, experiencing three consecutive quarters of growth. This resulted in 211,090 units of proprietary products sold during 2025, an approximate 5% increase from 2024. By the end of Q4, the company had 52 commercial SKUs and 174 commercial listings across medical and adult-use channels, representing 27% growth in proprietary commercial SKUs and a 32% growth in total listings from Q4 2024.
Strategic Investments and Future Outlook
Avicanna CEO Aras Azadian emphasized that targeted investments across platforms have supported commercial scalability and advanced product development. These initiatives are designed to position the company for efficient scaling, international expansion, and unlocking the full value of its business units and intellectual property globally. The company's operational discipline and optimization efforts have contributed to what Azadian described as the strongest financial performance in Avicanna's history.
Earnings Call Announcement
Management will host an earnings call and corporate update on Tuesday, April 7th, at 8:00 a.m. Eastern time. Presenters will include CEO Aras Azadian, Interim CFO Nick Hillborn, and EVP of Medical Affairs Dr. Karolina Urban. This call will provide further insights into the company's financial results and strategic direction moving forward.
