MustGrow Biologics (MGRO) Q1 2025 earnings summary

Executive summary

• Achieved record Q1-2025 revenue of $3.8 million, marking the first full quarter of revenue post-NexusBioAg acquisition.

• Focused on expanding both Canadian and U.S. sales platforms, with new product additions and exclusive agreements.

Financial highlights

• Q1-2025 sales revenue reached $3.8 million, compared to zero in Q1-2024.

• Gross profit was $541,221, representing a 14.3% gross profit margin.

• Net loss for the quarter was $1.6 million, with a net loss per share of $0.03 (basic).

• Cash and equivalents totaled $2.0 million, with inventory at $2.4 million as of March 31, 2025.

Outlook and guidance

• Accelerating commercial efforts for TerraSante™ biofertility in the U.S. and expanding NexusBioAg product offerings in Canada.

• Continued focus on securing new products and exclusive distribution agreements to drive revenue growth.