Auxly reported $32.7 million in net revenue for the three months ended March 31, 2025 (Q1 2025), $18.7 million gross profit and $12.1 million in net income. 

Net revenue was up 29% year-over-year from Q1 2024, while gross profits were up 97.7%. Net revenue increased by $38.1 million from a $26 million loss in Q1 2024. Auxly realized a gross profit of $18.7 million for the three months ended March 31, 2025, resulting in a 57% gross profit margin, compared to $9.5 million or 37% during the same period in 2024.

The company reported $16.5 million in excise from $49.2 million in revenue from cannabis sales, or 33.5%. 

Approximately 75% of Auxly’s cannabis sales in Q1 2025 originated from sales to British Columbia, Alberta and Ontario. The company has had sales in all Canadian provinces and the Yukon and Northwest Territories since 2024.

Auxly sells under the brands Parcel, Back Forty, Foray, Doescann, and Kolab Project, and provides wholesale bulk sales of dried cannabis to various licensed producers in Canada. 

Auxly operates Auxly Charlottetown in PEI, where the company does most of its cannabis 2.0 product development, and Auxly Leamington, where it grows and processes dried flower. 

In May 2024, the company sold its Auxly Ottawa facility for $1.7 million and applied the proceeds from the sale to support its ongoing operations. The company currently has no active international operations, although some wholesale sales enter the global market. 

“We are pleased to report another exceptional quarter of financial and commercial performance, highlighted by a 29% year-over-year increase in net revenue, and a 232% improvement in adjusted EBITDA,” said Hugo Alves, CEO of Auxly. “These results reflect the successful execution of our strategy and our focus on teamwork, innovation, and operational efficiency. We continued to see strong growth in distribution, driven in particular by the expanding reach of our flower portfolio. As we continue to strengthen our balance sheet and reduce debt, we are building a solid foundation for long-term leadership and sustainable growth. The future of Auxly is bright and we’re just getting started.”

As of March 31, 2025, Auxly’s selling price per gram was $0.13–$1.31. Average yield per plant was 124 grams, and the post-harvest cost per gram was $0.07.