SIMPLY SOLVENTLESS ANNOUNCES RECORD Q2 2025 GROSS REVENUE OF $13.0 MILLION AND CASH FLOW FROM OPERATIONS OF $1.0 MILLION
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CALGARY, AB, Aug. 28, 2025 /CNW/ - Simply Solventless Concentrates Ltd. (TSXV:HASH) ("SSC") is pleased to announce its Q2 2025 financial and operating results including record quarterly gross revenue of $13.0 million, EBITDA of $4.3 million, adjusted EBITDA of $3.2 million and positive cash flow from operations of $1.0 million. The information set out in this press release should be read in conjunction with SSC's condensed interim consolidated financial statements as at and for the three and six months ended June 30, 2025 and the related management's discussion and analysis, which are available for review on SSC's SEDAR+ profile at www.sedarplus.ca.
"We delivered another strong quarter of profitable growth, driven by focused and disciplined execution across all of our business units. The SSC platform is allowing our acquired subsidiaries, including Humble, ANC, and Cannmart, to operate on an integrated and complimentary manner. We are now seeing the benefits of increased scale and critical mass beginning to take shape, resulting in record Q2 2025 gross revenue and adjusted EBITDA, and most importantly, positive cash flow from operations of $1.0 million. We have significantly improved our balance sheet in part through the ANC promissory note settlement and deferral, and we will continue to focus on driving further growth in cash generation from our assets as we launch new products, including the Sluggers brand in late Q3 2025, and as we pursue additional key markets through the remainder of 2025." said President and CEO Jeff Swainson.
Q2 2025 Highlights
INCOME STATEMENT FIGURES
For the three months ended,
June 30, 2025
March 31, 2025
QoQ % INCREASE
Gross Revenue
$13.0M
$12.4M
5 %
Gross Revenue/Share
$0.118
$0.115
3 %
Net Revenue
$11.0M
$9.9M
11 %
Net Revenue/Share
$0.099
$0.091
9 %
Gross Margin
$5.3M
$4.8M
10 %
Gross Margin/Share
$0.047
$0.044
7 %
EBITDA(1)
$4.3M
$9.5M
(55 %)
EBITDA/Share(2)
$0.039
$0.087
(55 %)
Adjusted EBITDA(1)
$3.2M
$3.2M
0 %
Adjusted EBITDA/Share(2)
$0.029
$0.030
(3 %)
Net Income
$3.4M
$8.4M
(60 %)
Net Income/Share(2)
$0.031
$0.078
(60 %)
Normalized Net Income (NNI)(1)
$2.0M
$1.5M
33 %
NNI/Share(2)
$0.018
$0.014
29 %
Cash from Operations Prior to Changes in Working Capital
$2.3M
$2.0M
15 %
Cash from (used in) Operations After Changes in Working Capital
$1.0M
-$2.8M
136 %
Gross Margin %
43.0 %
48.9 %
(12 %)
(1)
Non-IFRS financial measure. See discussion in the Non-IFRS Financial Measures advisories section of this press release below.
(2)
Based on 115,502,799 common shares of SSC outstanding as of June 30, 2025 and 108,627,799 common shares of SSC outstanding as of March 31, 2025, as applicable.
BALANCE SHEET FIGURES
As at
June 30, 2025
December 31, 2024
% INCREASE
Total Assets
$60.5M
$38.6M
57 %
Net Assets
$31.9M
$15.5M
106 %
Working Capital(1)
$20.3M
$1.6M
1,148 %
