MustGrow announces record Q1-2025 results: $3.8 million revenue, 14.3% gross profit margin, $4.4 million in cash and inventory

MustGrow Biologics Corp. (TSXV:MGRO) (OTC:MGROF) (FRA:0C0) (the ″Company″ or ″MustGrow″), a leading provider of biological and regenerative agriculture solutions, announced its operating and financial results for the three months ended March 31, 2025. 

Key Financial Highlights:

• Sales revenue of $3.8 million was recorded in Q1-2025 vs. zero in Q1-2024

• Gross profit of $541,221 (14.3% gross profit margin) in Q1-2025⁽¹⁾

• Cash and equivalents on hand as at March 31, 2025 was $2.0 million with Inventory of $2.4 million

• Net loss for the three-month period ended March 31, 2025 was $1.6 million and the net loss per share was $0.03 (basic) for the same period

″Our 2025 first quarter marked a pivotal milestone for MustGrow, reflecting the first full quarter of revenue since the acquisition of the NexusBioAg sales and distribution business on December 31, 2024,″ stated Corey Giasson, President and CEO of MustGrow. ″$3.8 million is a meaningful revenue figure for us, and with additional products already secured for the NexusBioAg distribution platform and increasing commercial farmer interest in our TerraSanteTM U.S. biofertility product, we are accelerating our mission to improve the global food system through sustainable production solutions.″

The Company continues to focus on capital allocation that generates revenue and revenue growth of both its NexusBioAg Canadian sales and distribution business and TerraSanteTM biofertility sales in the United States.

In the first quarter, MustGrow secured access to several additional agriculture products through its NexusBioAg sales and distribution platform in Canada, including a five-year exclusive distribution agreement with Adjuvants Plus Inc. (a Canadian regenerative agriculture company) and the addition of three new biological solutions to its product lines designed to enhance crop health, boost yield potential, and improve environmental resilience: EZ-Gro Max, EZ-Gro Cyto, and Rootella^® mycorrhizal inoculants. MustGrow is continually working on securing new and meaningful products for Canadian farmers. 

Notes:

1. Gross margin is a non-IFRS financial measure. This ratio expresses gross profit as a percentage of revenue for a given period. It assists in explaining the Company’s results from period to period and measuring profitability. This ratio is calculated by dividing gross profit for a period by the corresponding revenue for the period. There is no directly comparable IFRS measure.