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Vext Science
(VEXT)
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Rating:54Neutral
Price Target:
C$0.30
▲(7.50% Upside)
Action:Reiterated
Date:08/22/26
Overall score reflects (1) below-average financial performance driven by ongoing losses and negative returns despite positive cash flow, (2) constructive but somewhat stretched technical momentum with price above key moving averages but elevated RSI, and (3) valuation uncertainty due to a negative P/E and no dividend support. The latest earnings call modestly improves the outlook with clearer H2 improvement drivers and margin progress, but notable execution and balance-sheet/tax risks remain.
Positive Factors
Ohio expansion and market growth
Ohio is becoming Vext’s primary growth engine, supported by expanding retail capacity and stronger statewide demand. Continued dispensary openings and scaling operations could improve revenue mix and provide a durable platform for growth.
Negative Factors
Revenue decline and Arizona weakness
The top-line contraction shows that Arizona’s wind-down and weak wholesale conditions are outweighing growth elsewhere. A smaller revenue base raises execution pressure on Ohio and could limit operating leverage during the transition.
Read all positive and negative factors
Positive Factors
Negative Factors
Ohio expansion and market growth
Ohio is becoming Vext’s primary growth engine, supported by expanding retail capacity and stronger statewide demand. Continued dispensary openings and scaling operations could improve revenue mix and provide a durable platform for growth.
Read all positive factors
Vext Science (VEXT) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$66.88M
Dividend YieldN/A
Average Volume (3M)64.98K
Price to Earnings (P/E)―
Beta (1Y)0.54
Revenue Growth13.60%
EPS Growth11.06%
CountryCA
Employees173
SectorHealthcare
Sector Strength45
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.07
Shares Outstanding185,816,350
10 Day Avg. Volume147,065
30 Day Avg. Volume64,978
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)0.83
Price to Sales (P/S)0.88
P/FCF Ratio5.55
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.01
Revenue Forecast (FY)C$66.63M
Vext Science Business Overview & Revenue Model
Company Description
Vext Science, Inc., through its various subsidiaries, operates as a comprehensive agricultural technology, services, and property management company within the United States cannabis sector. Its operations span the entire product lifecycle, from c...
How the Company Makes Money
Vext Science makes money primarily by selling regulated cannabis products in the U.S. through two main revenue streams: (1) retail sales via company-operated dispensaries, where revenue is generated from direct-to-consumer purchases of cannabis fl...
Vext Science Earnings Call Summary
Earnings Call Date:Aug 20, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Dec 01, 2026
Earnings Call Sentiment Positive
The call emphasized meaningful operational and margin improvements driven by Ohio execution and higher cultivation yields, alongside successful financing and balance sheet progress. These positives were balanced against a lower top line (driven by a planned Arizona cultivation wind-down), ongoing market weakness in Arizona, a significant uncertain tax liability, and modest reported operating cash flow due to deliberate inventory and payable timing. Management communicated a clear strategy to redeploy capital from Arizona to Ohio and to pay down debt, and they reported concrete near-term actions and improving trends.Positive Updates
Improved Profitability and Margins
Gross profit rose to $6.7M from $4.9M a year ago and gross margin expanded to 55% (vs 36% prior year). Even before fair-value adjustments, margin improved to ~44% from ~39% year-over-year.
Negative Updates
Revenue Decline
Total revenue was $12.1M, down ~10% year-over-year; top-line decline driven primarily by a planned reduction in Arizona wholesale activity (wholesale revenue declined from $2.6M to $1.4M).
Read all updates
Q2-2026 Updates
Positive
Negative
Improved Profitability and Margins
Gross profit rose to $6.7M from $4.9M a year ago and gross margin expanded to 55% (vs 36% prior year). Even before fair-value adjustments, margin improved to ~44% from ~39% year-over-year.
Read all positive updates
Company Guidance
Management guided to improved H2 performance as Arizona’s repositioning to a capital‑light retail/third‑party sourcing model completes, Ohio inventory converts to cash, Fairfield and the broader Ohio footprint scale, and capital is directed to strengthening the balance sheet, paying down debt, and funding Ohio growth; Q2 metrics cited as context include revenue of $12.1M (≈‑10% YoY, flat QoQ) with wholesale revenue down to $1.4M from $2.6M, gross profit $6.7M (vs $4.9M a year ago) and gross margin 55% (36% YoY; 44% before fair‑value adj.), adjusted EBITDA $3.4M (+22% QoQ from a corrected Q1 $2.8M) with a 28% adjusted EBITDA margin (vs 23%), net loss narrowed to $0.3M (vs $1.5M), cash from operations $1.2M (~10% cash‑flow margin) despite a deliberate $2M Ohio inventory build (expected to convert through H2; Ohio wholesale set a preliminary monthly record in July), cultivation yields now >100 g/plant (up ~68% over 2.5 years), Eloy property reclassified held‑for‑sale at $7.8M with proceeds earmarked to pay secured debt, cash ~$4.5M, net working capital improved from ‑$11.7M to ≈‑$0.9M (would be positive excluding an $11.7M uncertain tax position up from $8.1M), WPCU financing gross proceeds ≈$17M (used to refinance ~$10.5M WPCU debt, acquire Jackson, OH for $6M and fund expansion), and the East West Bank note maturity extended to Jan 2028.Vext Science Financial Statement Overview
Summary
Income Statement
37
Negative
Balance Sheet
55
Neutral
Cash Flow
61
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 50.38M | 52.27M | 36.00M | 34.81M | 35.41M | 37.24M |
| Gross Profit | 9.28M | 2.32M | 8.98M | 12.04M | 23.10M | 18.69M |
| EBITDA | 6.05M | 6.80M | -2.02M | 16.77M | 15.03M | 12.80M |
| Net Income | -14.22M | -18.31M | -22.44M | 4.40M | 10.92M | 4.99M |
Balance Sheet | ||||||
| Total Assets | 116.96M | 120.31M | 136.97M | 149.56M | 120.52M | 83.70M |
| Cash, Cash Equivalents and Short-Term Investments | 4.53M | 5.07M | 4.62M | 8.72M | 5.93M | 6.47M |
| Total Debt | 33.71M | 34.97M | 39.52M | 38.60M | 38.15M | 14.10M |
| Total Liabilities | 62.87M | 65.04M | 61.23M | 54.58M | 48.60M | 24.31M |
| Stockholders Equity | 54.09M | 55.27M | 75.74M | 94.98M | 71.92M | 59.39M |
Cash Flow | ||||||
| Free Cash Flow | 3.46M | 8.29M | 1.82M | 1.69M | -2.94M | -7.10M |
| Operating Cash Flow | 7.25M | 11.92M | 3.29M | 4.42M | 5.92M | 11.68M |
| Investing Cash Flow | -3.69M | -5.76M | -5.44M | -4.82M | -30.31M | -27.10M |
| Financing Cash Flow | -3.52M | -5.69M | -1.95M | 3.19M | 23.86M | 20.14M |
Vext Science Technical Analysis
Positive
0.28
Price Trends
0.26
Positive
0.27
Positive
0.26
Positive
Market Momentum
<0.01
Positive
53.34
Neutral
29.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:VEXT, the sentiment is Positive. The current price of 0.28 is above the 20-day moving average (MA) of 0.28, above the 50-day MA of 0.26, and above the 200-day MA of 0.26, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 53.34 is Neutral, neither overbought nor oversold. The STOCH value of 29.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:VEXT.
Vext Science Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | C$66.88M | -2.65 | -25.01% | ― | 13.60% | 11.06% | |
53 Neutral | C$32.04M | -6.47 | -13.79% | ― | -6.74% | 43.54% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | C$60.36M | -0.70 | -131.11% | ― | -21.90% | -25.05% | |
49 Neutral | C$80.97M | -2.15 | 206.83% | ― | ― | ― | |
46 Neutral | C$16.80M | -3.70 | -108.44% | ― | -0.23% | -142.54% | |
44 Neutral | C$109.87M | -1.39 | -285.09% | ― | -7.77% | -52.56% |
* Healthcare Sector Average
TSE:VEXT
Vext Science
0.28
0.00
0.00%
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Vext Science Corporate Events
Business Operations and StrategyFinancial Disclosures
Vext Science Boosts Q2 Profitability as Ohio Growth Offsets Arizona Exit
Positive
Aug 20, 2026
Vext Science reported second-quarter 2026 revenue of $12.1 million, in line with the prior quarter, as growth in Ohio retail offset the planned wind-down of Arizona cultivation and wholesale operations. Adjusted EBITDA rose 22% sequentially to $3....
Business Operations and StrategyFinancial Disclosures
Vext Science Sets August 20 Date for Q2 2026 Results and Investor Call
Neutral
Aug 12, 2026
Vext Science, Inc., a vertically integrated U.S. cannabis operator active in Arizona and Ohio, manufactures and distributes Vapen-branded THC concentrates, edibles, and distillate cartridges through its cultivation, manufacturing facilities, and d...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.