VANCOUVER, British Columbia — California and New York cannabis operator LEEF Brands Inc.reported its financial and operating results for the second quarter ended June 30, 2025. All figures are reported in U.S. dollars unless otherwise indicated.
Q2 2025 Financial Highlights
- Revenue: $8.7 million, up 10% from $7.9 million in Q2 2024, driven by a 19% year-over-year increase in unit sales.
- Gross Margin: 24%, compared to 34% in Q2 2024, reflecting higher input costs for clean extraction material.
- Net Loss: $2.9 million, or ($0.02) per share, a 45% improvement from a $5.5 million loss in Q2 2024.
- Adjusted EBITDA: ($1.2) million, compared to $0.3 million in Q2 2024, impacted by lower gross margins and increased operating expenses related to planting Salisbury Canyon Ranch and ramping operations in New York.
- Bitcoin: LEEF holds 4.4 Bitcoin with an average cost basis of $104,591 per coin. The Company is evaluating opportunities to meaningfully increase its Bitcoin holdings.
Management Commentary
“This quarter marked a pivotal transition for LEEF as we completed our first planting at Salisbury Canyon Ranch and secured our New York license,” said Micah Anderson, CEO of LEEF Brands, Inc. “The Salisbury Canyon Ranch harvest and the New York license are expected to strengthen our margins starting in Q3 2025 by reducing reliance on external biomass and opening new revenue streams.”
About LEEF Brands Inc.
LEEF Brands Inc. is a California and New York-based extraction and manufacturing cannabis company.
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