MTL Cannabis Reports Q4 and Record Full Year 2025 Financial Results Driven by $105.2M of Revenue, $21.7M of EBITDA, and $18.2M of Cash Flows from Operations

Cision Canada

21-07-2025

PICKERING, ON, July 21, 2025 /CNW/ - MTL Cannabis Corp. (CSE: MTLC) (OTCQX: MTLNF) ("MTL" or the "Company") is pleased to report it has filed the annual financial statements for the year ending March 31, 2025. Complete details may be found at www.sedarplus.ca.
Income Statement:
Revenue of $105,239,109, an increase of $22,175,221, or 27%, compared to $83,063,888 in the prior year.
Gross margin before fair value adjustments of 55%, an increase of 9%, compared to 46% in the prior year.
Operating Income of $16,051,858, an increase of $11,439,188, or 248%, compared to $4,612,670 in the prior year.
Net Income and Comprehensive Income of $6,826,256, an increase of $4,376,733, or 179%, compared to $2,449,523 in the prior year.
EBITDA (1) of $21,722,218, an increase of $12,495,154, or 135%, compared to $9,227,064 in the prior year.
Adjusted EBITDA (1) of $20,266,508, an increase of $7,622,341, or 60%, compared to $12,644,167 in the prior year.
(1) See "Non-IFRS financial measures" section for reconciliation of EBITDA and Adjusted EBITDA.
Statement of Cash Flows:
Net cash inflows from operating activities of $18,230,108, an increase of $4,499,228, or 32%, compared to $13,780,880 in the prior year.
Net cash used in investing activities of ($5,484,584), an increase of ($3,273,646), compared to ($2,210,938) in the prior year.
Net cash used in financing activities of ($8,416,701), a decrease of $2,238,657, compared to ($10,655,358) in the prior year.
Overall net cash increased to $5,680,958, an increase of $4,328,823, or 320%, compared to $1,352,135 at the beginning of the fiscal year.
Additionally, the company was able to demonstrate retained earnings of $5,705,091, an increase of $6,319,256, or 1029%, compared to an accumulated deficit of ($614,165) in the prior year.
Management Commentary:
"We've entered a new era at MTL as we move from building the foundation to achieving record-breaking results," said Michael Perron, CEO of MTL. "This achievement reflects the dedication of our people, the strength of our disciplined operating model, and our team's ability to execute at a high level. We have built a strong and scalable platform, and at the core of it all is an unwavering commitment to delivering the highest quality products and services to our patients and customers. I am deeply grateful to the entire MTL team for making that possible."
Richard Clement, Chair of the board of directors, commented "I am extremely proud of our team for their focus, determination, and the incredible efforts to help build the company to what it is today. We look forward to continuing to deliver strong results for our customers, patients, and shareholders."
Non-IFRS financial measures
In addition to results reported in accordance with IFRS, the Company uses certain non-IFRS financial measures as supplemental indicators of its financial and operating performance. These non-IFRS financial measures include Adjusted EBITDA. The Company believes these supplementary financial measures reflect the Company's ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of trends in its business.
The Company defines EBITDA as earnings before interest, taxes, depreciation and amortization. The Company defines Adjusted EBITDA as income (loss) from continuing operations, as reported, adjusted for depreciation and amortization, financing costs, gains and losses on sale of marketable securities, interest and accretion, share-based payments, change in fair value of biological assets realized through inventory sold, and unrealized gains and losses on changes in fair value of biological assets. The Company uses EBITDA as a measure of the cash generating capacity of its business. The Company uses Adjusted EBITDA to assist with comparatives to other companies by eliminating variability resulting from differences in capital structures, management decisions related to resource allocation, and the impact of fair value adjustments on biological assets and inventory, which may be volatile on a period-to-period basis. EBITDA and Adjusted EBITDA should not be considered alternatives to net income (loss), cash flow from operating activities or other measures of financial performance defined under IFRS. EBITDA and Adjusted EBITDA are intended to provide a proxy for the Company's operating cash flow and are widely used by industry analysts and investors to compare the Company to its competitors and derive expectations of the future financial performance of the Company.
The Company's method of calculating EBITDA and Adjusted EBITDA may differ from other companies and, accordingly, they may not be comparable to similar measures used by other companies.
The table below provide a reconciliation of Net Income as reported under IFRS in the annual financial statements to EBITDA and Adjusted EBITDA for each of the twelve-month periods ended March 31, 2025 and 2024.
About MTL Cannabis Corp.
MTL Cannabis Corp. is the parent company of Montréal Medical Cannabis Inc. ("MTL Cannabis"), a licensed producer operating from a 57,000 sq. ft. licensed indoor grow facility in Pointe Claire, Québec; Abba Medix Corp., a licensed producer in Pickering, Ontario that operates a leading medical cannabis marketplace; IsoCanMed Inc., a licensed producer in Louiseville, Québec growing best-in-class indoor cannabis, in its 64,000 sq. ft. production facility; and Canada House Clinics Inc., operating clinics across Canada that work directly with primary care teams to provide specialized cannabinoid therapy services to patients suffering from simple and complex medical conditions.
As a flower-first company built for the modern street, MTL Cannabis uses proprietary hydroponic growing methodologies supported by handcrafted techniques to produce products that are truly craft for the masses. MTL Cannabis focuses on craft quality cannabis products, including lines of dried flower, pre-rolls and hash marketed under the "MTL Cannabis", "Low Key by MTL" and "R'belle" brands for the Canadian market through nine distribution arrangements with various provincial cannabis distributors. MTL Cannabis has also developed several export channels for bulk and unbranded GACP quality cannabis.
It is MTL's goal for Abba Medix Corp. to become the leading distributor of medical cannabis in Canada and for Canada House Clinics to be the leading Canadian provider of medical cannabis clinic services.
For further information, please visit www.mtlcorp.ca/ or the Company's public filings at www.sedarplus.ca.
Cautionary Statement Regarding Forward-Looking Information.
This press release contains forward- looking statements, including statements that relate to, among other things, the Company's clinic, production and technology businesses, its future plans, the Company's markets, objectives, goals, strategies, intentions, beliefs, expectations and estimates, and can generally be identified by the use of words such as "may", "will", "could", "should", "would", "likely", "possible", "expect", "intend", "estimate", "anticipate", "believe", "plan", "objective" and "continue" (or the negative thereof) and words and expressions of similar import. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Material assumptions used to develop forward-looking information in this news release include, the regulations related to cannabis use under the Cannabis Act (Canada); Company liquidity and capital resources, including the availability of additional capital resources to fund its activities and repay its outstanding indebtedness; level of competition; the ability to adapt products and services to the changing market; the ability to attract and retain key executives; the ability to execute strategic plans; continued integration of business unit, expansion activities at all our operating locations; and the leveraging of cash flow from operations to accelerate growth and further improve the Company's balance sheet. Additional information about material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the Company's Listing Statement dated August 14, 2023 and its most recent annual and interim Management's Discussion and Analysis under "Risk and Uncertainties" as well as in other public disclosure documents filed with Canadian securities regulatory authorities. The Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by law.