Flora Growth Corp. reported its financial results for the third quarter of 2025, revealing a revenue of $9.7 million, a 34.8% increase from $7.2 million in the same period last year. However, the company experienced a net loss of $6.7 million for the quarter, compared to a loss of $3.8 million in Q3 2024. For the nine months ending September 30, 2025, total revenue was $26.3 million, down from $28.2 million in the prior year, while the net loss remained consistent at $9.8 million for both periods.
The company's operational expenses rose to $3.6 million in Q3 2025 from $2.6 million in Q3 2024, primarily due to a contingency loss related to a legal proceeding. Gross profit for the quarter was $0.3 million, reflecting a gross margin of 3%, down from 7% in the previous year, attributed to a higher percentage of lower-margin sales. The company also reported a significant loss from discontinued operations of $3.0 million, driven by a $1.4 million goodwill impairment at its former TruHC subsidiary.
Strategically, Flora Growth has undergone significant changes, including the sale of its legacy hemp and cannabis business on September 26, 2025, which allowed the company to focus on its pharmaceutical distribution operations through its subsidiary, Phatebo. The company also initiated a new digital asset treasury strategy, acquiring digital assets valued at $55.4 million as of September 30, 2025. This strategy is expected to enhance the company's growth potential in the digital asset market.
In terms of liquidity, Flora Growth reported cash and restricted cash of $13.1 million as of September 30, 2025, up from $5.2 million at the end of 2024. The increase was bolstered by a successful private placement that raised approximately $13.3 million in gross cash proceeds. The company believes that its existing cash and digital assets will be sufficient to meet its working capital requirements and future obligations. Looking ahead, Flora Growth aims to leverage its digital asset strategy and expand its pharmaceutical distribution capabilities to drive future growth.
About Flora Growth Corp.
Flora Growth Corp. is a multinational cannabis company specializing in the manufacturing and distribution of consumer packaged goods, medicinal cannabis, and pharmaceutical products. Its core segments include wellness, nutraceuticals, accessories, and medical cannabis, with key brands like JustCBD and Vessel. The company leverages a diversified strategy, global supply chain expertise, and regulatory licenses to serve markets in North America, Europe, and beyond, focusing on quality, innovation, and strategic acquisitions.
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