Avicanna Inc. reported $6.3 million in revenue for the three months ended March 31, 2025 (Q1 2025), $3.6 million gross profit, and net income of $74,154 in the company’s first profitable quarter. 

Gross profit was up 7% year-over-year while revenue decreased by 2%. 

Most of the company’s revenue came from sales in the Canadian market, $5.3 million, while another $1 million came from the international market. Revenue in the Canadian market comes from sales of Avicanna’s products, revenue generated from licensing intellectual property and research and development services, and revenue from sales through their medical cannabis platform, MyMedi.ca.

Canadian revenue was down 11% year-over-year, while International revenue was up 129%,  driven by new licensing and supply agreements.

Avicanna sold 38,624 units in Canadian channels in Q1 2025, down from 57,911 units in Q1 2024. The company says the number of units sold in 2024 was higher than in 2025 due to an initial onboarding of Avicanna products onto a third-party medical platform. 

API sales in international channels were 54 kg for the three months ended March 31, 2025, up from 27kg for the three months ended March 31, 2024, a 100% increase. International finished product sales were 1,000 units for the three months ended March 31, 2025, compared to 1,047 units for the three months ended March 31, 2024, a 5% decrease.

The gross margin on sales in Canada was 49%, and it was 99% in the international market.

“Starting 2025 with positive momentum, we are proud to report our first profitable quarter—a milestone that reflects our strategic focus and operational discipline,” said Aras Azadian, CEO of Avicanna. “With this solid foundation, we are now positioned to focus on scaling our Canadian operations, international expansion, and advancing of our R&D pipeline and intellectual property.”

The company is an international biopharmaceutical company focused on cannabinoid-based products, and operates the medical cannabis care platform MyMedi.ca, the Medical Cannabis brand RHO Phyto, as well as focusing on R&D and clinical development.

The company acquired Medical Cannabis by Shoppers Drug Mart in 2023, which it transitioned to the MyMedi platform.

Avicanna Inc. also recently announced it will host its 5th medical symposium on Cannabinoid-based Medicine – “From Emerging Evidence to Clinical Practice” in the MaRS Discovery District, Toronto, on Friday, June 6th, 2025.