Cannabis Bioscience International Holdings Reports Revenue Decline and Increased Net Loss for Quarter Ended February 28, 2025

Cannabis Bioscience International Holdings, Inc. reported its financial results for the three and nine months ended February 28, 2025, revealing a significant decline in revenue compared to the previous fiscal period. For the three months, the company generated revenues of $14.9 million, a decrease of 59% from $36.4 million in the same period last year. The nine-month revenue also increased to $268.1 million from $173.0 million, marking a 55% rise. However, the company faced a gross loss of $4.5 million for the quarter, contrasting with a gross profit of $24.6 million in the prior year, while the nine-month gross profit rose to $232.5 million from $137.3 million.

The financial performance reflects a notable increase in operating expenses, which totaled $136.9 million for the three months ended February 28, 2025, compared to $184.6 million in the same period last year. The increase in expenses was primarily driven by higher general and administrative costs, which rose to $62.3 million from $25.3 million. The company reported a net loss of $192.4 million for the quarter, slightly improved from a net loss of $209.2 million in the prior year. For the nine-month period, the net loss was $337.1 million, down from $515.4 million in the previous year.

In terms of strategic developments, Cannabis Bioscience has focused on expanding its operations and enhancing its service offerings. The company has been involved in clinical trials and educational services related to medical cannabis, which are expected to drive future revenue growth. The company’s total assets decreased significantly to $14.9 million as of February 28, 2025, from $57.2 million at the end of the previous fiscal year, primarily due to a reduction in cash and accounts receivable.

Operationally, the company reported a working capital deficiency of $960.9 million, indicating ongoing financial challenges. The cash balance at the end of the reporting period was $548, down from $755 at the end of May 2024. The company has also seen a decrease in accounts receivable, which fell to $2.6 million from $20.1 million. The company’s reliance on a few key customers is evident, as three customers accounted for 51%, 30%, and 15% of gross revenue for the nine months ended February 28, 2025.

Looking ahead, Cannabis Bioscience International Holdings, Inc. faces substantial doubt regarding its ability to continue as a going concern. The company has indicated that its future operations depend on successfully executing its business plan, which includes expanding its service offerings and securing additional financing. The management has acknowledged the need for substantial capital to fund operations and repay debts, emphasizing that failure to obtain adequate financing could materially impact its operations or lead to a cessation of business activities.