Strong Revenue Growth
Total net revenue increased by 105% to $12 million in Q1 2025 compared to the same period in 2024, largely due to the acquisition of the Natroba business.
Natroba Business Performance
Natroba generated $6.7 million in revenue with a gross margin of approximately 87%, positioning the business well for upcoming warmer months.
Canadian Product Portfolio Growth
Canadian product revenue increased by 41% compared to the same quarter in the prior year, contributing to overall product revenue growth.
Adjusted EBITDA Increase
Adjusted EBITDA rose by 73% to $6.2 million due to the Natroba acquisition and growth in the Canadian product portfolio.
Debt Repayment
A repayment of $15 million was made on the revolving credit facility, reducing the outstanding debt to $25 million.