Cannabis operator Vext Science's Q1 revenue rises 5%, Ohio sales up 34%
Overview
U.S. cannabis operator's Q1 revenue rose 5% yr/yr, adjusted EBITDA increased sharply
Ohio revenue grew 34% yr/yr, driven by improved cultivation yields
Arizona repositioning underway as company exits Eloy cultivation amid market oversupply
Outlook
Company expects business to generate strong cash flow through 2026 and beyond
Arizona cultivation exit expected to complete by end of Q2 2026
Result Drivers
OHIO GROWTH - Ohio revenue rose 34% yr/yr, driven by improved cultivation yields and expansion to five dispensaries
ARIZONA REPOSITIONING - Co is exiting cultivation in Arizona due to market oversupply and price compression, focusing on dispensaries and manufacturing
Company press release: ID:nNFCbN6C4F
Key Details
Metric |
Beat/Miss |
Actual |
Consensus Estimate |
Q1 Revenue |
|
$12.16 mln |
$12.4 mln (2 Analysts) |
Q1 Adjusted EBITDA |
|
$3.56 mln |
$2.7 mln (2 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the healthcare facilities & services peer group is "buy"
Wall Street's median 12-month price target for Vext Science Inc is C$0.40, about 45.5% above its May 20 closing price of C$0.28
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