MustGrow Biologics (MGRO) Q2 2025 earnings summary

Executive summary

• Achieved record Q2-2025 revenue of $2.8 million, including $312,832 from TerraSante™ sales in the U.S.

• Gross profit margin improved to 20.9% in Q2-2025, up from 14.3% in Q1-2025.

• Sold out of TerraSante™ inventory in the U.S., with sales tripling all of 2024's total.

• Canadian NexusBioAg division experienced slower sales due to seasonal factors, with expectations for a strong Q4.

Financial highlights

• Q2-2025 sales revenue reached $2.8 million, compared to no revenue in Q2-2024.

• Gross profit was $594,718, representing a 20.9% margin.

• Cash and equivalents stood at $1.8 million as of June 30, 2025; inventory also at $1.8 million.

• Net loss for the quarter was $1.1 million, or $0.02 per share (basic).

Outlook and guidance

• U.S. TerraSante™ sales ramp-up underway, with production increasing to meet demand.

• Canadian sales expected to strengthen in Q4, following traditional seasonal patterns.

• Focus remains on revenue growth for both NexusBioAg and TerraSante™ product lines.