MustGrow Biologics posts record first quarter revenue
Published: 08:48 28 May 2025 EDT
MustGrow Biologics Corp. (TSX-V:MGRO, OTCQB:MGROF) has reported first quarter revenue of $3.8 million, a record for the company.
The developer of regenerative farming solutions posted a gross profit for the quarter of over $541,000 at a 14.3% gross margin.
The company exited the quarter with cash and cash equivalents of $2 million and inventory of $2.4 million. It reported a net loss of $1.6 million for Q1.
Operational highlights from the quarter included the addition of three new biological products, EZ-Gro Max, EZ-Gro Cyto, and Rootella, to its NexusBioAg platform and the signing of a five-year exclusive distribution agreement with Adjuvants Plus.
"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 (in December 2024)," MustGrow CEO Corey Giasson said.
Giasson called the $3.8 million revenue figure "meaningful" for the company, adding: "(W)ith additional products already secured for the NexusBioAg distribution platform and increasing commercial farmer interest in our TerraSante US biofertility product, we are accelerating our mission to improve the global food system through sustainable production solutions."
MustGrow added that it continues to focus on revenue growth through its Canadian NexusBioAg business and US-based TerraSante biofertility product.
