EarningsQ2 2026 Earnings Report

Vext Science (VEXTF) Q2 2026 Earnings Report

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Previous Report: Q1 2026

VEXTF Q2 2026 EPS Results

Actual EPS$0.00

Consensus EPS$0.00

Beat/MissMet expectations

One Year Ago EPS-$0.01

VEXTF Q2 2026 Revenue Results

Actual Revenue$11.77M

Expected Revenue$12.30M

Beat/MissMissed by -$526.25K

YoY Revenue Growth-9.60%

Earnings Announcement Details

QuarterQ2 2026

Date08/20/2026

TimeAfter Close

Conference CallThursday, August 20, 2026

VEXTF Upcoming Earnings

Vext Science's next earnings date is estimated for December 1, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

VEXTF Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

No slide deck is available for this earnings event.

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Aug 20, 2026|

% Change Since:

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.

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.

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.

Adjusted EBITDA Growth

Adjusted EBITDA was $3.4M, up 22% sequentially from $2.8M, with adjusted EBITDA margin improving to 28% from 23%.

Material Narrowing of Net Loss

Net loss narrowed to $0.3M in Q2 from $1.5M a year ago — an improvement of roughly 80% (about $1.2M).

Ohio: Primary Growth Engine

Ohio sales and operations grew: statewide Ohio sales were up ~28% in the first half of the year (state data). Opened the sixth dispensary (Fairfield) in June which is ramping, and a seventh Columbus dispensary is planned to open in Q1 FY27 under a dual-use license.

Significant Yield and Inventory Progress

Cultivation yields improved, now eclipsing 100 grams per plant for the first time; yield per plant is up ~68% over the last 2.5 years. Management intentionally built ~$2M of Ohio inventory in Q2 to supply retail growth and reports Ohio wholesale set a new monthly record in July.

Balance Sheet and Financing Actions

Completed a ~$17M financing with Wright-Patt Credit Union (gross proceeds) used to refinance ~$10.5M debt, acquire Jackson, OH facility for $6M, and fund Ohio expansion. Ended Q2 with ~$4.5M cash and remained in compliance with debt covenants. Net working capital improved from negative $11.7M at year-end to about negative $0.9M at Q2.

Strategic Asset Repositioning to Improve Capital Allocation

Eloy (Arizona cultivation property) reclassified as held for sale at $7.8M; expected net proceeds are earmarked to reduce secured debt and redeploy capital to higher-return Ohio operations.

VEXTF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Dec 01, 2026	2026 (Q3)	0.00 / -	-0.01	―
Aug 20, 2026	2026 (Q2)	0.00 / 0.00	-0.01	―
May 21, 2026	2026 (Q1)	- / -	-0.01	―
Apr 29, 2026	2025 (Q4)	-0.01 / 0.00	-0.01	―
Nov 20, 2025	2025 (Q3)	>-0.01 / -0.01	-0.01	0.00% (0.00)
Aug 20, 2025	2025 (Q2)	>-0.01 / -0.01	-0.01	0.00% (0.00)
May 21, 2025	2025 (Q1)	- / -	-0.03	―
Mar 31, 2025	2024 (Q4)	-0.01 / -0.01	-0.03	66.67% (+0.02)
Nov 21, 2024	2024 (Q3)	>-0.01 / -0.01	-0.01	0.00% (0.00)
Aug 20, 2024	2024 (Q2)	-0.01 / -0.01	0.004	-350.00% (-0.01)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed