Ayurcann Holdings Corp. reported $7.6 million in net revenue and $2.9 million in gross profit in the three months ended March 31, 2025 (Q3 2025) but a net loss of $561,770.

Net revenues increased by 17% in Q3 2025 compared to Q3 2024, while the cost of sales increased 16%. Gross profit increased 18% year-over-year while operating expenses increased 23%. Net losses were up from a net loss of $121,718 in the previous quarter. 

Ayurcann’s gross revenue in the first three months of 2025 was $14.2 million, with most product sales in the B2C Canadian market ($13.6 million), while $564,743 were in the B2B market. The company incurred $6.5 million in excise fees from its gross revenue, a rate of 45.5%. 

Ayurcann sells on the recreational market in Canada with proprietary products and formulations including cannabis vape carts, pre-rolls, concentrates and extracts.

According to Hifyre IQ, Ayurcann is one of the top three vape producers in Ontario by volume, with a 5% share of the national vape market and an 8% share in Ontario.

Ayurcann operates a fully licensed 13,585-square-foot extraction and manufacturing facility in Pickering, Ontario. It sells cannabis under its house brands like Fuego, XPLOR, and Happy and Stoned, in BC, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, and Yukon.

On March 1, 2025, the company acquired all of the assets and intellectual property of Joints and Hustle & Shake Inc., a wholly owned subsidiary of Ayurcann. On March 20, 2025, Joints and Hustle & Shake Inc. was dissolved.

The company’s total operating expenses were $3.2 million, including $1.3 million in sales and marketing. The company’s accounts receivable consists of Harmonized Goods and Services Tax due from the Federal Government of Canada and amounts receivable from customers. The Company’s maximum exposure to credit risk as at March 31, 2025, was $4,838,406 ($5,027,514 as at March 31, 2024), representing trade and other receivables.