Avicanna Inc. Reports First Profitable Quarter in Q1 2025
Toronto, May 15, 2025 — Avicanna Inc., a commercial-stage biopharmaceutical company based in Toronto, has announced its financial results for the first quarter of 2025, marking a significant milestone with its first profitable quarter. The company, which specializes in the development, advancement, and commercialization of cannabinoid-based products, reported a revenue of $6.32 million for the quarter ended March 31, 2025. This figure represents a slight 2% decrease compared to the same period in 2024.
Despite the marginal decline in revenue, Avicanna achieved a net income of $74,154 and a comprehensive income of $876,092. These results were driven by cost efficiencies and margin improvements, underscoring the company’s strategic focus and operational discipline. Following the announcement, Avicanna Inc. shares rose by $0.04, reaching a close price of 0.275 CAD on the Toronto Stock Exchange.
Aras Azadian, CEO of Avicanna, expressed optimism about the company’s future, stating, “Starting 2025 with positive momentum, we are proud to report our first profitable quarter—a milestone that reflects our strategic focus and operational discipline. With this solid foundation, we are now positioned to focus on scaling our Canadian operations, international expansion, and advancing our R&D pipeline and intellectual property.”
Avicanna Inc. is listed on the Toronto Stock Exchange under the ticker symbol AVCN. The company has a market capitalization of 25,900,000 CAD and a price-to-earnings ratio of -6.09. Its shares have fluctuated between a 52-week high of 0.55 CAD on July 14, 2024, and a 52-week low of 0.2 CAD on June 20, 2024.
As Avicanna continues to build on its achievements, the company remains committed to its mission of developing innovative cannabinoid-based products for consumer, medical, and pharmaceutical markets. For more information about Avicanna’s activities and offerings, interested parties can visit their official website at www.avicanna.com .