MTL Cannabis Corp. reported $25.6 million in revenue for the three months ended December 31, 2024 (Q3 2025), net revenue of $20 million, and a $1.2 million loss. 

Revenue was up 8% compared to Q3 2024, while gross profit was down 4%. The company incurred $5.6 million in excise taxes in the most recent quarter, a 29% increase from the same quarter in the previous year. 

Net loss increased 369% from net income of $453,004 in Q3 2024. The company reported net income of $1.2 million in Q2 2024.

The company says the revenue increase is primarily due to the 2023 Canada House Cannabis Group acquisition. There are 12 Canada House clinics across Canada: one in each of the provinces of Alberta, Prince Edward Island, and Newfoundland, two in New Brunswick, two in Nova Scotia, and five in Ontario. 

MTL is the parent company of Montréal Medical Cannabis Inc., a licensed producer operating from a 57,000 sq ft licensed indoor grow facility in Pointe-Claire, Québec; Abba Medix Corp., a licensed producer in Pickering, Ontario that operates a leading medical cannabis marketplace; IsoCanMed Inc., a licensed producer in Louiseville, Québec, growing best-in-class indoor cannabis in its 64,000 sq. ft. production facility; and Canada House Clinics Inc., operating clinics across Canada that work directly with primary care teams to provide specialized cannabinoid therapy services to patients suffering from simple and complex medical conditions

ICM and Abba supplement Montréal Cannabis with additional cultivation capacity to meet ongoing demand and growth. MTL says it currently has more than 3,400 veterans registered with Abba. 

MTL has also established export channels in Germany, Australia, Poland, Portugal, and the UK.

As of December 31, 2024, MTL had an estimated total production capacity of 19,500 kg per annum after recently completed retrofits and expansions of both Abba and ICM, which added an estimated 2,500 kg and 8,000 kg, respectively.

“Our resilient strategy underpins the strong results we’ve delivered quarter-over-quarter, demonstrating that our high-quality products and leading industry performance are driving enhanced value for shareholders,” said Michael Perron, CEO of MTL. “With robust opportunities for continued growth, our company is well-positioned to deliver superior products for our expanding client base both domestically and internationally.”

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